# 

## 

# 

## 



## 

## 

## 

## 

## 



## 

## 

## 



R¢&w#til (knktyNo. 241149
ST
CCOUNT8
REND
CH20
E H. TAYLOR8
Accowthncy* T•xatlon and Advl
203 London Road
Hadl•lgK E1￿X
887 2RO

(Iwity No. 241149
THE CARNNAL E8TATE8 FUND
INDEPENDENT EXAMINER'8 REPORT TO THE TRUSTEE3 OF
THE CARMIVAL E8TATE8 FUND
I rowl on Ihe accourbts of the Tn￿t for the yw Ond￿1 31•1 202Z. 4rv *•1 oui n the FIn￿GI•1
statement• Appended {pages 1 to n.
Th chadty'• r#w)n8lble foi the w•paration Oft￿ afj￿unts.
T￿ charfty's trust•M conwder that an audlt 1$ not r•qulred for th1$ yoar und•r •ecllon 144 of the Chffiii8s Acl
2011 (tho ChariU•s Art) and Ihat •n Ind•p¢nd•nt •xamlnalh)n h nè•d•d.
It th my ￿1p￿￿lIty to:
accounts under •eAion 145 ofthe Ch•rth• Act
to folcmf pme*AlurM L•ld do*m in th• 9•r4y•l Dkn(￿ g￿rt by ts Charly Comml••ion {undar
14515)Ib> of th• Ch*lti88 Art) and
to state whoth•r parllojlar mattws hm com• to my att•ntiM.
My &Yamwi•tion G•rried out in aGGord•rKe Y41th 9•nèrnl DlreGtions 9rven by the Ch*ity Commimion. An
examlnakn Include8 4 r•vknwofthe xcountlng records kept by the chwlty and • comparI￿n oftho accoLmts
pr•8ent•d with tlv)s• rKonlJ. 11 also Includos consklorntlon of any unusual K•mJ or dlxlo•ure8 In th•
accounts, and ￿￿kIng •xpLanation* from the tru81••s Cor￿mIng any 8uth mattern. The procedur
undortak•n do Mt provid• all the 0￿d￿nCe that 7Aruld be rnqulred in an audt ￿nSequen￿Y no opinion18
ghen as to *thether ts a¢counts pr•i•nt a ond viow and Ith• report kl Umlt•d io thom matters ••t
out in the •tat•rnont b•knw.
rvHllonablB cwuBe to ￿1kn¥e that. In any matertal mpert Ihe roqulremfjnts..
to kogp accou￿rg recorth kn accord￿ *llh *cUon 130 ofth¢ Charllkns Ad; and
to prwre accounts vthlch aCc￿d V•lth th• a¢¢ountirwJ tocord¥ and cOM￿Y *ith the accountirvJ
IDWrnments of th• GhaM•J Act
h•v• not mrt or
To ￿lCh, in my oplnlon, att•ntlon •houhJ bo dra*n In ovd•r to on•bl• a prLpw urwJ#rntsnding of t
R MGConrwl FGA
E. H. Taykrn
203 LOn￿n Roaa
Hadl•igh. E￿X
SS7 2RD

REWtd c￿￿￿0. 241149
THE CARIINAL ESTATE8 FUND
8TATEIIiENT OF FINANCIAL ACTMTIES
FOR THE YEAR ENDED 31•1 MARCH 2022
INCOIAING RE80URCE8
IncomlrwJ rMource$ from pnwatod fvndi..
Volwrtary Incom•
Inveskn*rt Iw•
1,381
93,770
86,465
88.069
88,069
95,151
R&8OURCE8 EXPEIIDED
Coth Ofg•n•rn￿Nj fvnds..
CoAtx of voluntary Ineom•
Fundrnk8ww tradkn￿ cost8
Inveslment manag•mwft C￿1*
Charttabbo aclfvllle•
Governan￿ co8ti
52.217
8.325
52,217
8,325
101.085
7,606
60.542
60,542
108,691
27,527
27,527
(13.540)
N•t ineomknW{out9oln9) r￿QuIc00 bofore ott
r￿nI￿d galn&lllo8•88)
27,527
27,$27
(13.540)
OTHER RECOGNISED GAIN81ILO88E8)
G￿n81(Lou) on Inve•lment ats￿ts
2,295
2,295
Galn ¢)n diwsal oflanglbb ftted a880ts
Not movem•nt In fundj
29,822
29.822
(7.6181
REcoNC￿￿T￿)N OF FUIID8
547,767
547,767
577,589
577.589
547.767
Th• thtsmont ol financl&l acti¥ltkn¥ I￿ILKI￿ dl ylns and lo1￿ r•cognlwJ In th• y•ar. IrK(wnlng r•wurc
r•source4 expended derlve fr(th (x)ntlnukng a¢￿vIbel.
rth on paps 3 to 7 brm part 0fth￿6 flnanclal 8tatom*ts.

Rewed Ch•Jity No. 241149
THE CARNNAL ESTATES FUND
NCE SHErr
AS AT 31" IAARCM ZOZZ
FIXED AaaEra
Tangible
Inve8lm•nts
45,095
33,780
48,976
31.485
TOTAL FIXED AS8ET8
78,875
78.461
URRENT A8seT8
Calh at b￿k ar#J In hand
503.766
475,770
CREDITORS: hlllry du•
1,427
1.413
NEf CURRENT AS8Ef8
502,339
474.357
TOTAL A88ET8 LE88 CURRE¥T
UAoiUr￿0
501,214
CREDITOR8: Amounts f•lllng du•
•ft•r mor• th*n on• y••r
3.82S
S.051
NEf ¥A88Ef8
577,$89
547.787
THE FUND8 OF THE CHARrrY
577.$89
547,767
Cyclk41 malntenarK• fund
TOTAL FUNDS
577,589
547,767
T1￿ finan(*l ststomwts on po9￿ 1 ty 7 approved Dy IM trustws arvj sNned on b•h•ll
by'.-
M (/'fJ
CHAI
TRU3TEE

Re￿*￿ed CtityNo. 241149
THE CARNIVAL E8TATE8 FUND
IIOTES TO THE FIMANCIAL STATEIIEMTS
FOR THE YEAR ENDED JI" MARCH 2022
1.1 BAgIS OF PREPARATION
Thgse acc¢)unts boon prnparnd on the baJl8 of hl8iorlc co81 {eX￿pt thai knv•8m)•nM are Shown
at marttet value) In accordancé wilh Accounting and Rgporting by Charibes
Statsment of
Recommended Praclke (SORPI. FRS 102 2019 arml ￿7th th• accounting #tsndard8 and wllh the
Charrties A¢t 2011.
12 CHANGE IN BA818 OF ACCOUNTING
There ha¥ thango to the a￿Unting plKi88 (￿uatiOn rul8J and methods ofaGGounti19) sin¢•
last yaar.
1J CHANGE TO PREVIOU8 ACCOUNTa
No change8 have been made to accounts lor prevlou8 years.
AGGOVNTING POUCIE8
In pr¢parfng the a¢¢ounts the 101th￿r￿j a¢¢ountlng p0￿c￿ have l)•en adopt￿..
Incomlng oro IndU￿d in the Statwnwt of Fimncial AGtivitig8 {SoFA) 7thth0n:
th• tr￿te8¥ arn ￿rtUAllY ￿rtain they wll reuive the re8ourc•8,' arKI
the m(Thtary ￿u0 ¢an h measured 84rf1d•nt rdkqbilty.
I￿There incoming re¥ouT¢e$ hav¢ related expenditure, the incoming resour￿ and related
oxpand￿re reportèd gro85 in the Statement of Financial Activilies (SOFA). Investment income
b)
Inv•8lm•nt galn• aThl1088es Inch￿ any galn or kn88 on Ihe sale of inve8trnerts aNI any gakn or
loss rosultlng from tho revaluation of Invesm)eM8 to market ¥alJo at the end of the y￿.
c) EXpendI￿re is included in the SOFA a5 soon as th•r• is a Iggal or constrLKtive obligation
eommitliry th• charity to pay out r•sourc•s. Gov•rnane• eo•l• Includ• eo•ts of th• pr•par4tion
and examinatKm of statutory accourts, costs oftru8tee meetlngs and costs of any legal aomce b
Tangibl8 fixed assets are cap6tall8ed rf they can be used for more than one year and cost at least
£500. Thèy ara dèprae￿tÉd an x Atralght linè basis over thèlr èxtimated ustsful livès as folhJK*s:
Froofv)hl Land & Buiklin
2%
Invthn•nts quotod on a rncowlwl stock exchango are Valued at math•t vahje at the year end.

R¢p*wd Charity No. 241149
THE CARNNAL E8TATE8 FUND
NOTES TO THE AMANCIAL 8TATEIIENTS
FOR THE YEAR ENDED 31" MARCH 2022 Iconllnu•d)
INCOIIING RESOURCES
Voluntary irKome:
Dol￿tIOn¥
In¥e8tsnern IT￿¢.
Intorest recelved
D￿1d•nd* li•• not• 8)
1.803
1.379
1.804
1.381
Maintfjnanc8 GontributKJn•
ftenl Igt •tore
86.465
93.770
86,465
93,770
R&8OURCE8 EXPENDED
22
2021
Ctyjncll tax
In8urnnce
Ught and heat
Malntenance of 9aTden8 IlrKkwJing ¥vag•8)
MaintsnanGo of propert
Major repair I￿rkS
R&gular int8rval M￿nIansnr
2.702
1.914
309
8,310
2.508
1,871
1,733
8,180
29,599
3.228
2,416
3.836
1,881
64,070
16.894
2,414
3.$34
1,881
Residents. wdPdre
W•tw 3er¥iGe3
Deprecialion
52.217
101.085
General adminlBtrntlon
Finance c05t
Sdarle8 (see nots 6}
2,268
57
6,(N)O
1,536
70
6,000
8,325
7.606

CknityNo. 241149
THE CARNNAL ESTATE8 FUND
NOTE8 TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 3Irt MARCH 2022 (contlnu•dl
& EXPENSE8 INCURRED
Amourts pald to tnJ8t•M forth• Mmbiw8em•nt ol out of pocknt eXpn8￿ are # foll¢Aw'.
Ndurv of the expEnsei5."
Residents, wolfarn
550
578
315
G•n•ral admini•tratlon
Capllal proFwty ¢osts
maintena￿ of prO￿rth•s
Tatsl amount paKI
£sso
£893
Feu for •xamkAtlon ofth• accounts and other services yovthd arn as fol0￿.
Inde￿dent examinerfs ftts for r•portlThJ on the
flnwKlal
1,800
1,320
Othor fe88 pakl to the Indèpandent examlner
Total ￿OUnt paij
1,800
1,320
STAFF GO8T3
Gr￿ ￿￿ge¥
Employere Nallon•l Insura￿ costs
Pen8bn Costs
12.310
11.980
Totsl staff ¢o•ts
12.310
11,980
N￿b￿r of •mpby•u in th• year
ChArllabki actIv￿￿ {gaffhMr)
number ol ￿nplOY

RewAI ()thityNo. 241149
THE CAIINIVAL ESTATE8 FUND
NOTE8 TO THE FINANCIAL 8TATEMENT8
FOR THE YEAR ENDED 31ttt MARCH 2022 (GOrtIn￿dI
7. TANGIBLE FIXED A88Ers
Axat 1* W12021
94.072
94.072
at 3111 2022
94,072
94.072
DEPRECIATION
at 1* April 2021
Charg0 forthe yaar
Elknlnatsd on d*po
47.096
1.881
47,096
1,881
A at 31d March 2022
48,9TT
48,9TT
NEf BOOK VALUE
A al 31*1 M•M 2022
45,095
45,095
A• al 31•t March 2021
46,976
46,976
I. INVE8niENT8
Market value al 1 Aprll 2021
Additlons to investments al cost
Dl8poMkn at carrylng ¥8￿•
Nat gain on r￿auatiOn
31,485
2.295
M•rkot valuè •t 31* March 2022
33.760
AMty•l• of Inv••tm•nts
In¢om• fr(wn
Inv••lm•nt• forth•
31•t March 2022
IrNeslments lJl•d on a st￿k
exchangè or hokl kn common In¥e8lment funth.
£33,780
£1.603
InvMtm•nt• rnprn••ntlng mor• than 6% of
th• of th• chArV• Inv••kn•ni•
M•rk•t valu• at
31 IAarch 2022
M & G UnK• kn Charlfvnd
£33.780
100

ChryityNo. 241149
THE CARNIVAL E8TATE8 FUND
NOTE8 TO THE FINANCIAL STATEMENT8
FOR THE YEAR ENDED 31•t MARCH 2011 (Gonllnu•d
9. CREDrroR8
mihouse AA#ticlalion knan..
Dua lhthln one yaar
1,427
1,413
*Arfthln on• to yearn
Due wlthln to fve yoar8
Du• after more than flve yaarn
1.440
2,185
1.427
3.625
Dup aftor than yoar
3,62J
,OJ2
£5,052
£6.465
AJMshO￿O AS￿n h)an18 unMcur•d arKI Is r•p•yablè by In8lalm•nts o¥tt a ten year tern) to
ptemhr 2025.
10. RELATED PARTY TRAN8AcnoN8
Nom olthe tru8leM V•Yre paid any remuneratson or recelved any benoffta dLYlng Ihe year. ReThbursed
exp¢n$e8 have beon di8dos•d in note 5 of th# Ilnancial statsments.

Rtgislered Charilv No. 241149
THE CARNIVAL ESTATES FUND
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE CARNIVAL ESTATES FUND
I report on the accounts of the Trust for the year ended 31si March 2021, which are set out in the Financial
Statements Appended (pages 1 10 71.
Res
ective res
onsibilities of trustees and examiner
The charity's Iruslees are responsible for the preparation of the accounts.
The charity s trustees consider that an audit is not required for this year under secb'on 144 of the Charities Act
2011 Ilhe Charities Act) and that an independent examination is needed.
It is my responsibility to".
examine the accounts under section 145 of the Charities Act
lo follow the procedures laid down In the general Directions given by the Charity Commission (under
section 14515llbl of the Charities Act) and
lo slate whether particular matters have come lo my attention.
Basis of the inde
endent examiner's statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An
examination includes a review of the accounting records kept by the charity and a comparison of the accounts
presented with those records. It also includes consideration of any unusual items or disclosures in the
accounts, and seeking explanations from the trustees concerning any such matters. The procedures
undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is
given as to whether the accounts present a "true and fair" view and the report is limited to those mallers set
out in the statement below.
Inde
endent examiner's statement
In connection with my examination, no matter has come to my attention..
which gives me reasonable cause to believe that, in any material respect, the requirements..
lo keep accounting records in accordance with section 130 of the Charities Act,. and
lo prepare accounts which accord with the accounting records and comply with the accounting
requirements of the Charities Act
have not been mel., or
To which, in my opinion, allenlion should be drawn in order to enable a proper understanding of the
accounts lo be reached.
R Mcconnell Bsc FCA
E. H. Taylors
203 London Road
Hadleigh, Essex
SS7 2RD
Dale..