Charity registration number 237267
SOCIETY OF FRIENDS - CHARNEY MANOR
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
SOCIETY OF FRIENDS - CHARNEY MANOR
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Deborah Arrowsmith Nigel Braithwaite Ian Charles (Appointed 31 January 2023) Janet Harland (Appointed 5 May 2023) Katharine Nicholas Alan Pearmain (Appointed 31 January 2023) Peter Wilkinson Jill Green Charity number 237267 Independent examiner Critchleys Audit LLP Beaver House 23-38 Hythe Bridge Street Oxford OX1 2EP Bankers Barclays Bank UK PLC
SOCIETY OF FRIENDS - CHARNEY MANOR
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 9 - 17 |
SOCIETY OF FRIENDS - CHARNEY MANOR
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
The Trustees present their annual report and financial statements for the year ended 31 December 2022.
Charney Manor was placed at the disposal of Friends Trusts Limited for use by the Religious Society of Friends by Henry & Lucy Gillett in a declaration of Trust dated 21 January 1949. Subsequently a scheme for Charney Manor, including the appointment of trustees, was sealed by the Charity Commissioners on 12 July 1985 under charity reference 237267. Ownership was transferred to London Yearly Meeting, the governing body of the Religious Society of Friends. On 4 May 1999 the Charity Commissioners amended the governing document for Charney Manor which involved the appointment of new trustees. Ownership has been transferred from Britain Yearly Meeting, successors to London Yearly Meeting, to the new trustees as the governing body for Charney Manor. Charney Manor has accordingly now been included as an asset on the balance sheet.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
Objectives and activities
The land and buildings are to be used for such religious and other charitable purposes of the Religious Society of Friends as the Managing Trustees think fit and in particular as a venue for conferences, lectures and other educational purposes.
Achievements and performance
The primary activity of Charney Manor is as a residential Conference and Retreat Centre. Programmes are organised to explore these and other relevant areas:
-
Approaches to prayer and the Bible
-
Personal relationships as a path to spiritual growth
-
Interfaith dialogue
-
Concern for the world
-
Aspects of the arts
-
Aspects of the sciences
During 2022 other church and faith groups used the Manor on several occasions and there were also bookings for arts and spiritual development events. Other bookings were related to education and other charities, and the NHS used the Manor for management and staff training. The marquee erected in 2021 received retrospective planning consent for three years.
Trustee meetings .
In addition to the trustees listed above Sarah Gillett acts as an Honorary Advisors (pending their change to Trustees status when Charney becomes a CIO in 2023), new trustees joined us early in 2023 (Alan Pearmain and Janet Harland), Rabert Kyte and Catherine Hilliard resigned in early 2023 and Stewart Jeffrey reached a slightly early end of his term as trustee at the meeting on May 26[th] 2023. The Trustees and Advisors met as a body on seven occasions together with the Manager Gill Peaston. Subgroups of Trustees also met in person or on Zoom e.g. to process the transition to CIO status.
Public Benefit
The Trustees are mindful of their duty to ensure that the charity’s activities exist for the public benefit. They have considered Charity Commission guidance and are satisfied that the performance and achievements of the charity during the year, as outlined below, are consistent with this duty. Most of the retreats and conferences organised by other groups (apart from those restricted to particular congregations) are open to all and are advertised as such.
- 1 -
SOCIETY OF FRIENDS - CHARNEY MANOR
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
Restrictions to the building
As a Grade 1 listed building there are strict regulations which do not allow alterations to the fabric of the Manor building. We are not, for example, permitted to install a lift to facilitate access by disabled persons to meetings in the 13th century Solar on the 1st floor in the Manor.
The buildings are: The Manor House, including the Solar and Undercroft dating from the 13th century, the Manor Barn converted into a main conference facility, the Vokins building which contains residential accommodation and the Gilletts Cottage for additional accommodation for residential retreats or hired by families or self-catering groups. On 2 May 2000 the buildings were professionally valued, on an existing use basis. The balance sheet records the value of building developments and accumulated depreciation.
In 1987 the Society received a bequest from the estate of Winifred Potter for the charitable purposes of Charney Manor. The capital is held as a designated fund with the income applied as revenue for general purposes.
Insurance values, on a replacement basis, with Ansvar Insurance are: - Buildings £9,334,453.00 Contents £452,335.00
Ownership
The property of Charney Manor and its investments are held by Friends Trusts Limited as the Custodian Trustee.
Staff
Gill Peaston is the non-resident manager in charge of the operation of Charney Manor and reports directly to the Trustee body. She is assisted by a staff of 15 people including an Assistant Manager, a Finance Administrator, Office Administrator; Catering Manager and Housekeeping Supervisor. A Resident Warden is also available to help with general duties.
Outlook and subsequent events
2021 Accounts showed a healthy surplus of income over expenditure of £46,000 and we budgeted for a similar balance in 2022.However totally unexpected sharp increases in the costs of food and fuel, legal costs arising from the ongoing CIO Registration and the outsourcing of the Catering function, increases in staff salaries to stay in line with current market rates, plus the cancellation of some Quaker retreats (due to lack of take-up) have all produced the deficit outlined in the Accounts despite a 30% increase in growth and turnover.
During 2023 the charity intends to register as a CIO and set-up a new subsidiary to operate some of its activities.
Financial review
Charney Manor recorded income for the year of £552,387 (2021: £427,120) and total expenditure of £646,963 (2021: £400,706). The net movement in funds, after changes in investment value, was a reduction of £137,397 (2021: increase of £82,534). Total reserves at 31 December 2022 were £1,590,135 (2021: £1,727,532). The Trustees consider that the reserves remain adequate to Charney Manor’s needs and in view of our anticipated activities.
Reserves Policy
It is the policy of the Trustees to maintain a balance on unrestricted funds equivalent to three to six months unrestricted expenditure.
- 2 -
SOCIETY OF FRIENDS - CHARNEY MANOR
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
The Trustees who served during the year and up to the date of signature of the financial statements were: Deborah Arrowsmith
Nigel Braithwaite Ian Charles (Appointed 31 January 2023) Janet Harland (Appointed 5 May 2023) Stewart Jeffrey (Presiding Clerk) (Resigned 26 May 2023) Katharine Nicholas Alan Pearmain (Appointed 31 January 2023) Peter Wilkinson Robert Kyte (Treasurer) (Resigned 24 March 2023) Jill Green Catherine Hilliard (Recording Clerk) (Resigned 24 March 2023)
The Trustees' report was approved by the Board of Trustees.
.............................. Alan Pearmain Trustee
Date: ............................................. 28 July 2023
- 3 -
SOCIETY OF FRIENDS - CHARNEY MANOR
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2022
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that year.
In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
- 4 -
SOCIETY OF FRIENDS - CHARNEY MANOR
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF SOCIETY OF FRIENDS - CHARNEY MANOR
I report to the Trustees on my examination of the financial statements of Society of Friends - Charney Manor (the Charity) for the year ended 31 December 2022.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the ICAEW, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
-
2 the financial statements do not accord with those records; or
-
3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Critchleys Audit LLP
Beaver House 23-38 Hythe Bridge Street Oxford OX1 2EP
Dated: .........................
- 5 -
SOCIETY OF FRIENDS - CHARNEY MANOR
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| Unrestricted Designated funds funds 2022 2022 Notes £ £ Income and endowments from: Donations and legacies 2 27,681 - Charitable activities 3 524,520 - Investments 4 186 - Other income 5 - - Total income 552,387 - Expenditure on: Charitable activities 6 647,995 - Other (1,032) - Total resources expended 646,963 - Net gains/(losses) on investments - (42,821) Net movement in funds (94,576) (42,821) Fund balances at 1 January 2022 1,310,851 416,681 Fund balances at 31 December 2022 1,216,275 373,860 |
Total Unrestricted Designated funds funds 2022 2021 2021 £ £ £ 27,681 55,241 - 524,520 289,629 - 186 187 - - 82,063 - 552,387 427,120 - 647,995 405,776 - (1,032) (5,070) - 646,963 400,706 - (42,821) - 56,120 (137,397) 26,414 56,120 1,727,532 1,284,437 360,561 1,590,135 1,310,851 416,681 |
Total 2021 £ 55,241 289,629 187 82,063 427,120 405,776 (5,070) 400,706 56,120 82,534 1,644,998 1,727,532 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 6 -
SOCIETY OF FRIENDS - CHARNEY MANOR
BALANCE SHEET
AS AT 31 DECEMBER 2022
| Notes Fixed assets Tangible assets 11 Investments 12 Current assets Stocks 13 Debtors 14 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 17 Net assets Designated funds - general Unrestricted funds |
2022 £ £ 1,317,434 274,002 1,591,436 2,800 13,817 197,090 213,707 (121,043) 92,664 1,684,100 (93,965) 1,590,135 373,860 1,216,275 1,590,135 |
2021 £ £ 1,351,008 316,823 1,667,831 2,800 20,645 225,534 248,979 (76,024) 172,955 1,840,786 (113,254) 1,727,532 416,681 1,310,851 1,727,532 |
|---|---|---|
In preparing these financial statements as Trustees we hereby confirm:
(a) that for the year in question the Trust was entitled to the exemption conferred by section 145 of the Charities Act 2011 and
(b) we acknowledge our responsibilities for:
maintaining proper accounting records and for preparing accounts which have been prepared in accordance with the Charities Act 2011.
The financial statements were approved by the Trustees on ......................... 28 July 2023
..............................
Trustee
- 7 -
SOCIETY OF FRIENDS - CHARNEY MANOR
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2022
| Notes Cash flows from operating activities Cash (absorbed by)/generated from operations 20 Investing activities Proceeds from disposal of investments Investment income received Net cash generated from investing activities Financing activities Repayment of bank loans Net cash (used in)/generated from financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year |
2022 £ - 186 (9,289) |
£ (19,341) 186 (9,289) (28,444) 225,534 197,090 |
2021 £ 25,162 187 50,000 |
£ 54,184 25,349 50,000 |
|---|---|---|---|---|
| 129,533 96,001 |
||||
| 225,534 |
- 8 -
SOCIETY OF FRIENDS - CHARNEY MANOR
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1 Accounting policies
Charity information
Society of Friends - Charney Manor is a registered charity.
1.1 Accounting convention
The financial statements have been prepared in accordance with the Charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.
1.4 Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 9 -
SOCIETY OF FRIENDS - CHARNEY MANOR
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Buildings 1% straight line / 5% straight line Equipment 33.3% straight line Land Nil
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8 Financial instruments
The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
- 10 -
SOCIETY OF FRIENDS - CHARNEY MANOR
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
2 Donations and legacies
| **Unrestricted ** | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| Donations and gifts | 17,021 | 27,184 |
| Grants | 10,660 | 28,057 |
| 27,681 | 55,241 |
3 Charitable activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| The Gilletts Cottage | 24,681 | 24,676 |
| The Barn | 69,061 | 10,557 |
| Residential conferences and retreats | 309,989 | 208,384 |
| Bed and breakfast | 75,159 | 32,487 |
| Quaker meetings and other income | 45,630 | 13,525 |
| 524,520 | 289,629 |
- 11 -
SOCIETY OF FRIENDS - CHARNEY MANOR
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
4 Investments
| **Unrestricted ** | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Investment income | 186 | 187 | |
| 5 | Other income | ||
| **Total ** | Unrestricted | ||
| funds | |||
| 2022 | 2021 | ||
| £ | £ | ||
| HMRC Furlough | - | 82,063 | |
| 6 | Charitable activities | ||
| Unrestricted | Unrestricted | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Staff costs | 308,358 | 225,474 | |
| Depreciation and impairment | 33,574 | 34,973 | |
| Food | 61,267 | 25,260 | |
| Housekeeping and laundry | 15,109 | 7,444 | |
| Rates | 1,818 | 2,476 | |
| Insurance | 11,381 | 11,521 | |
| Light and heat | 50,839 | 29,450 | |
| Repairs and replacements | 81,783 | 34,251 | |
| Garden upkeep | 10,067 | 1,065 | |
| Printing, postage, stationery, telephone & computer | 15,849 | 13,591 | |
| Travel and transport | 1,110 | 151 | |
| Miscellaneous | 40,438 | 10,951 | |
| Bursaries | 293 | - | |
| Items for sale | 871 | 619 | |
| Advertising | 8,861 | 4,894 | |
| Staff training | 921 | 718 | |
| 642,539 | 402,838 | ||
| Governance costs (see note) | 5,456 | 2,938 | |
| 647,995 | 405,776 |
- 12 -
SOCIETY OF FRIENDS - CHARNEY MANOR
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
7 Support costs
| Independent examination Bank charges Committee travel Analysed between Charitable activities |
Support costs Governance costs £ £ - 1,650 - 2,466 - 1,340 - 5,456 - 5,456 |
2022Support costs Governance costs £ £ £ 1,650 - 1,500 2,466 - 1,412 1,340 - 26 5,456 - 2,938 5,456 - 2,938 |
2021 £ 1,500 1,412 26 |
|---|---|---|---|
| 2,938 | |||
| 2,938 |
8 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
9 Employees
The average monthly number of employees during the year was:
| Employment costs Wages and salaries |
2022 Number 15 2022 £ 308,358 |
2021 Number 15 |
|---|---|---|
| 2021 £ 225,474 |
There were no employees whose annual remuneration was more than £60,000.
10 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
- 13 -
SOCIETY OF FRIENDS - CHARNEY MANOR
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
| 11 Tangible fixed assets Cost At 1 January 2022 At 31 December 2022 Depreciation and impairment At 1 January 2022 Depreciation charged in the year At 31 December 2022 Carrying amount At 31 December 2022 At 31 December 2021 12 Fixed asset investments Cost or valuation At 1 January 2022 Valuation changes At 31 December 2022 Carrying amount At 31 December 2022 At 31 December 2021 13 Stocks Finished goods and goods for resale |
Buildings £ 1,926,414 1,926,414 575,406 33,574 608,980 1,317,434 1,351,008 |
Equipment Total £ £ 55,793 1,982,207 55,793 1,982,207 55,793 631,199 - 33,574 55,793 664,773 - 1,317,434 - 1,351,008 Listed investments £ 316,823 (42,821) 274,002 274,002 316,823 2022 2021 £ £ 2,800 2,800 |
|---|---|---|
- 14 -
SOCIETY OF FRIENDS - CHARNEY MANOR
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
| 14 Debtors Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 15 Loans and overdrafts Bank loans Payable within one year Payable after one year |
2022 £ 1,482 27 12,308 13,817 2022 £ 40,711 10,000 30,711 |
2021 £ 10,906 - 9,739 |
|---|---|---|
| 20,645 | ||
| 2021 £ 50,000 |
||
| - 50,000 |
During 2021 a bounce back loan of £50,000 was taken out. This is repayable over 6 years, with no repayments in the first year, and incurs interest at 2.5% per annum.
16 Creditors: amounts falling due within one year
| Notes Bank loans (Covid bounceback loan) 15 Other taxation and social security Deposits in advance Trade creditors Other creditors Accruals and deferred income Creditors: amounts falling due after more than one year Notes Bank loans (Covid bounceback loan) 15 Other creditors |
2022 £ 10,000 26,385 72,003 12,083 - 572 121,043 2022 £ 30,711 63,254 93,965 |
2021 £ - 15,298 50,117 7,334 1,775 1,500 |
|---|---|---|
| 76,024 | ||
| 2021 £ 50,000 63,254 |
||
| 113,254 |
17 Creditors: amounts falling due after more than one year
- 15 -
SOCIETY OF FRIENDS - CHARNEY MANOR
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
18 Analysis of net assets between funds
| At 1 January 2022 Incoming resources Resources expended Other items (Losses)/Gains on investment At 31 December 2022 Investments Tangible fixed assets Net current assets Long term liability At 31 December 2022 |
Capital account Building repair fund 2022 2022 £ £ 396,681 20,000 - - - - - - (42,821) - 353,860 20,000 274,002 - - - 79,858 20,000 - - 353,860 20,000 |
Freehold property fund Income and expenditure account 2022 2022 £ £ 1,351,008 (40,157) - 552,387 (33,574) (614,421) - 1,032 - - 1,317,434 (101,159) - - 1,317,434 - - (7,194) - (93,965) 1,317,434 (101,159) |
Total 2022 £ 1,727,532 552,387 (647,995) 1,032 (42,821) 1,590,135 274,002 1,317,434 92,664 (93,965) 1,590,135 |
Total 2021 £ 1,644,998 427,120 (405,776) 5,070 56,120 1,727,532 316,823 1,351,008 172,955 (113,254) 1,727,532 |
|---|---|---|---|---|
Capital account
Represents the Winifred Potter bequest, the income from which is used for the charitable purposes of Charney Manor.
Building repair fund
To meet the future costs of repair work.
19 Related party transactions
There were no disclosable related party transactions during the year (2021 - none).
| 20 Cash generated from operations (Deficit)/surpus for the year Adjustments for: Investment income recognised in statement of financial activities Fair value gains and losses on investments Depreciation and impairment of tangible fixed assets Movements in working capital: Decrease/(increase) in debtors Increase in creditors Increase in deferred income Cash (absorbed by)/generated from operations |
2022 £ (137,397) (186) 42,821 33,574 6,828 13,133 21,886 (19,341) |
2021 £ 82,534 (187) (56,120) 34,973 (16,474) 3,706 5,752 54,184 |
|---|---|---|
- 16 -
SOCIETY OF FRIENDS - CHARNEY MANOR
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
| 21 | Analysis of changes in net funds | |||
|---|---|---|---|---|
| At 1 January | Cash flows At | 31 December | ||
| 2022 | 2022 | |||
| £ | £ | £ | ||
| Cash at bank and in hand | 225,534 | (28,444) | 197,090 | |
| Loans falling due within one year | - | (10,000) | (10,000) | |
| Loans falling due after more than one year | (50,000) | 19,289 | (30,711) | |
| 175,534 | (19,155) | 156,379 |
- 17 -