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|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||
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||||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|
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||||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|
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||||||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|
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||||||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|||||||
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|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|
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||||||||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|
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|||||||
|---|---|---|---|---|---|
|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|
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|||||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|
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|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|
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|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|
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|||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|
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||||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|
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|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|