Charrty number.. Company number.. 244075 826993 Hl8hw•yTntst Umlted la regislered charity and a companv limrted by guarantee) Unaudiled Report and Financlal Statern•rts For the ye•r ended 31 December 2022 HIGHWAYTRUST UMITED la registered charity and a cThnpaTry limited by 8iiar4rtee) Reports and finandal ststemerbts forthe year ended 31 December 2022 Contents P•8e: Company information Trustees report +9 Indepen(ient examlners report I(￿11 Statement ol financlal actfvltie$ 12 Balance sheet 13 Notes to the flnanclal statements 14-19 The followlw p•8e5 do not fomi p•rt ol the ststutory fiMMlal statements Detailed income and expendrture accounts 2fTr21 HIGHWAY TRUST LIMITED lè registered dmrityand a cornpAny lim*ed IY•T8u•rart•el Report5 and financial statements forthe yarended 31 December 2022 COUNCIL OF MANAGEMENT Rev Davld Crouchley lchalrnianl Colln Rawllng ITreasurerl Ruth Brlddo¢k Isecretaryl David Wisdlsh Heather Cameron Irene Mckay Helen Nomian TIM 804den IAppolnted 18 Ortober20211 sECR￿ARy Ruth Briddock REGISTERED OFFICE Thornlelgh The Esplanadt Grang￿cweT-SandS Cumbrl LAII 7HH ACCOU14TANTS Rfm UlveTSton Ltd 8eltevue Prlnce's Street U￿erStOn Cumbrf LA12 7NB BANKERS The C¢Troperatlve Bank plc PO Box 250 Skelmefsdale WN8 6V Natwest 8uslness Banki Buslness Banklng Kendal 10 Elephantyard Kendal Cumbr1• LA9 4GS C(AMPANY NUMBER: 82ffl93 and Wale5 CHARifi NUMBER: HIGHWAYTRUST LIMITED la regislefed chafity and a company Iwnited by guarantee) Reports aml fkn•nd•l Statements for theyear ended 31 December 2022 TRUSTEES. REPORT The Trustees. who arè also diredors of the Charity for the purwses of the Companies Act. presenl their annual report and the unaudited financial statements for the year ended 31 Decembèr 2022. The ftnancial statements have been prepared under the historical cost convention, modified to include the re￿luatIOn of ￿rtain fixed assets, and in accordance with acceptable accounting policiès. Thè financial statemènts have been prepared in accordance with the Statement of Recommended Practice ISORPI."Accounting and Reporting by Charitles" issued in October 2019 and the Financial Reportin8 Standard 102 leffective January 20191 and applicable accountln8 Standards. OBJECTS OF THE QIARfTY. PRNapAL Ac￿￿￿Es AND ORGANISATION The Charity Is constituted as a company limited by guarantee, and is therefore ioverned by Memorandum and Articles of Association. The HiBhway Trust 8rew out of an Advisory Council representin8 An8lican. Methodlst and Free Chur¢hes. They were Incorporated In 1964 to provlde fadlltles for the advancement of the ChristTraA rèllglon Snitlally through Hlghway Holldays which they had brought into being some two years earlier. Over the years our actions have been consistently applied to this èffecL In plannlng our actlvltles for 2022 we have taken into conSiderat￿n the Charlty Commlsslon's guldance on publlc benefit, and specifically the gubdance for the advancement of religion. On a regular basis the Trustees rLwiew our tharitable oblect and misslon statement. Our Charitable Object is.. To further the Chrlstlan falth. To encourage Christlan action and mission. To promote the cause of Christian Unity. Our mlsslon statement is: To provide a unique Chrlstian dimension to holidays and hospitality, and reach out to others through social action and mission. to the yjory of God. In the past we have performed our Mission Statemènt in a number of way5 but we have in the last few years focussed on seeking to give 810ry to God through offering travel and hospitality Induding opportunities for rest and recuperation in a Christian hotel. More detai15 on our activities in 2022 are 8i¥en below. The Highway Trusvs Trustees are not paid in afty way. HIGHWAyTRu￿ ￿M￿ED (a re&l￿ered charlty and a ¢ompany Ilmlted by guarantee) Reports and flnandal statements for the yw ended 31 December 2012 TRUSTEES. REPORT continued DEVELOPMENT, AcnvmES AND ACHIEVEMENTS IN 2022 The HlglMTay Trust ThroughoLrt 2022 Highway Trust has been able to operate more fvlly than In the last few years, although given the nature of the operation and the ¢u5tomers we appeal to, we have still not been able to reach our full potential. We have endeavoured to exceed the our Customers needs and wishes. by continuin8 Wlth enhanced cleaning and carying out any other tasks to ensure customers b¢)ok and then eniw their stsy. Thornl•l8h Hotel The Hlghway Trust has operated Thomlei8h since 1973. Its initial object was to provide "evan8elism throu8h leisure" for those in the Christian faith. and this remains its object today. In the early years, house parties came to Grang￿ver-58ndS to enjoy reasonably-priced holidays with like-rninded people. The accomrnodatlon was fairly basic, as was the provlslon of food. In contrast, the current facilitles at Thornleigh are excellent and all the bedrooms are ensuite. The focKI Is sourced locally and Cooked fresh each meal. Careful plannlng of the menus gNes a varietv of wholesome meals, a highlight whilst staying at Thornleigh. The whole h¢xel and award wlnnln8 gardens are easily accessible for gue￿$ and visitffs wr¢h mobility issues. The gardens are malntalned by volunteers. In 2015, we achieved a Sifver award for Cumbria In Bloom and a Silver In Grange in Bloom. In 2016. we went ¢)ne better and athle￿d a Gold in Grange In Bloom. Thornleigh is metkulously clean and the attention to detail is dear for all to see. The lounges have different style5 of chairs to suit all guests and the rooms are Clean and comfortable for gue5t5 to relax In and admire the view or chat to other guests stayln8. There is also a chapel which guest5 can use for qulet tlmes. HIGHWAYTRusf LIMITED la re8Sstered charlty and a comwy Ilmlted by 8uarnrtee) Reports and flnanclal ststements forthe year ended 31 December 2022 TRUSTEES. REPORT continued There are four bedrooms on the ground flfyxihat glve access suitable for disabled guests and the less able-bodied. Nearby are toilet and shower facilit￿ for those of limited mobility. including wheelchair users. A passenger lift enables guests to conveniently reach other floors. A loop system has been installed at reception and in all public rooms to help those wrth impaired hearing. In addition, a 'deafguard' is available to enable guest5 With drfficulty in hearing to be awakened should the fire alan be sounded during the night. Assistance dogs are perniitted. Such additional assistance makes Thornleigh welcomin& inclusive and accessible for a wide range of people. fvernight cover, whh a trained first - alder, 8ives all guests peace of mind. The Thomlelgh management is committed to pr¢)vlding a personal and caring service to its 8uest& Thornlelgh glves ihe opportuntty to loln wlth people of 51mllar Interests whllst on hollday. They feel safe and among￿ friends due to the family atmosphere of the hotel. We have many elderly guests who are holidaying alone for the first time and we offer the space they need. Meals are seryed In a famlly stWe and all speaal dlets are catered for. The kitchen Is maSntained to the highest of standards and is awarded the top 8rade of fbve slars by the EHO. c(￿mUnitY activr¢ies and devotions are offered each evening. Although standards are comparable to a mlddle grade hotel, the tariff ￿MaInS at an affordable level and any profkt Is re-lnvested either into the fabric of the premises or into SUPPQrting the work of the Highway Trust. Thomleigh is a non-profft maklng establlshment. Our employees sometimes find Thornlelgh challenging to malntaln the high standards experted but feel safe, secure and nurtured by belng part of the Thornlel8h Team. We feel we offer a safe and carlng workingenvlronment for employees who may feel vulnerable abo￿ the work place. We actively encourage and support our staff in developing themselves fvrther, indudin8 SUPPOrtingfvrther qualificatlons. We offer work placements to the local school. Thornleigh currently offers many Speclal Interest and Theme Breaks to individuals who enjoy taklng part in particular activities.. Creatrve Writin& Walkin& Enpyin8 Music. Gospel singing, Blble Study Weeks, Fellowship Holidays, Craft and Knhtln& Palntln8 Tuition, Genealogy, chur¢h Visits and expl￿1n8 the nearby Lake District by coach. Guest5 can also come and just relax and flnd the space they need. Church partie5 use the hotel for weekend C(￿ferenCeS. church holidays or one-day event5. Thornleigh provides local groups in the town. both reliwous and secular, with • place to meet. These include a monthly lunch for A8e UK, pr￿lIded at a reduced cost, otering for the elderly people in the community- a fortnightly bible study for members of local churches,. a self-help group forthose who suffer from Fibromyalgia & M.E.ICFS and the Unrversity of the Third Age IU3AI. We also provide space for an 'artist in residence'_ presently a seventy year old IcKal artist who was the founder of Prom Art, one of the lar8est outdoor Art events in the North West. HIGHWAYTRUST LIM￿ED la ¥egistered charity and a company Hmlted by iuaranttt) Reports and flnand41 ststements forthe yearended 31 De(ember 2022 TRUSTEES, REPORT ¢onlinued The Hotel started a Development Fund in 2017, to receive donations indudingthose from guests and from the Friends of Thornleigh Hotel. This Fund was created to assist in the planned multi-year refurbishment of the Hotel. As at 31 December 2022 we have continued to focus on other public areas. such as the reception area. and on refurbishing a number of our bedrooms. along with upgrading staff accommodation we have on site. The Hotel a150 has a Bursuary Fund which can provide grants lo selerted guests who, for various reasons, cannot afford to Come on houday. Nomlnatlons for grants are received from third parties, and the fund distributed on the basis of need al￿e. in strirt ccffifidence. The fund is available for partial, and Sometimes, full payment of the net value of the beneficiarfs stay. The fund is also available to provide funding for specialist equipment that would be required for an indfvidual or group to have a more fulfilling stay, such as rental of a wheel chair aCCes￿bIe minbus. During 2022 support continued for many local and national charities. Fund-raising was undertaken for. Chrlstlan Ald. Water Aid, Marie CLsrie, NCH Artion for Children. NSPCQ Age UK, Fix the Fells, Woodland Trust, Ernbrace and Grange-over-sands community plantin8. Thornleigh is committed in working responsibly to help the local environment: we were the first bu51ness in Grange to earn the L￿e my Beach certificate. TRANSACTIONS AND FINANaAL POSMON The Statement of Flnancial Actlvltles shows a net surplus for the year of E18.006 from ordinary actlvltles. Fdl¢)wing revaluation of the freehold land and buildings a gain on revaluation of £811,229 has been included In the statement of flnancial activltles. Total fvnds stand at £1,463.572 at the year end. TANGIBLE FIXED ASSEtS FOR USE BYTHE OIARITY Details of movements in fixed assets are set out In note 5 to the accounls. The freehold land and bulldln8S were valued on 31 March 2023. The Trustees consider that this valuation feflects their value as at 31 December 2022 and so the freehold land and buildings have been induded in ihese financial statements at this value. The Trustees consider that ihe value of all other assets exceed the value they are included In the flnancial statemenis. HIGHWAYTRusf LIMWED {a re8Sstered charlty and a company Ilmlted by war•ntee) Reports and flnanclal ststements forthe ye•r ended 31 De¢ember 2022 TRUSTEES. REPORT continued RESERVES AND RISK MANAGEMENT During 2022, the hotel has been open more in line with its usual schedule. but is still not operating at previous levels of occupancy due to the type of actlvitles we offer arbd our clientele. The hotel has, found It difficult to retain and recruit staff, but ihe hotel is doing all rt can to ensure staffing levels remain appropriate. to meet the hotels high levels of customer experience and service, whilst maintaining excellent value. We will corrtinue to review the staffing situation and our underlyin8 financial position, allowing us to support continued actlvltles at Thornl￿8h Hotel, the CharIt￿S subsidiary activities, and the other charitable objects of the Charity, and therefore the Trustees consider the financial position of the Charity to be satlsfartory. The Charity has £644.189 of unrestricted funds at 31 Oecember 2022. The Trustees a￿1velY revlew as part of thelr re8ular board meetln8s all potential areas of risk faced by the various arms of the Charr(v. Procedures are In place to Identrfy and mitigate rlsks arising from adverse conditlons. DIRECTORS ANDmiusTEES The dlrectors of the company are the members of the councll of management, whose names appear on page 3. All directors are also Trustees of the Charity. The Trustees are not paid in any wav. TRUSTEES, RESPONSIBILMES IN RELATION TOTHE HNANCIAL STATEMENTS Company law requiresthe Trustees to prepare financial statemerrts for each finandal year whlch glve a true and falr view of the state of affairs of ihe charity at the end of the financlal year and of its surplus or deficit select Su￿able accountln8 polldes and then apply them conslstentty: make jud8ements and estlmatesthat are reasonable and prudent: state whether applicable a¢¢ountin8 standards have been followed. subkd to any material departures disclosed and explained in the financial statements. prepare the financial statements on the goin8 ¢on¢ern basl HIGHWAYTRusf UMITED la re81stered charlty and a cOmp￿Y Ilmlted by guarantee) Re￿rtS and fl11￿￿al ststements forthe year ernled 31 De¢embw 2022 TRUSTEES, REPORT corrtinued TRUSTEES. RESPONSIBILITIES IN REiATION TO THE ANANCIALSTATEMENTS conllnued The Trustees are responsible for maintaining proper accounting records which disclose wrth reasonable atturacy al any time the financial pos[1￿ of the Charity and enable them to ensure that the financial statements comply with the Companies Aci 1985. They are also responslble for safeguardingthe assets of the Charity and hence fortakln8 reas0ftab￿ steps for the prevention and detection of fraud and other irregularities. Signed on behalf of the Councll of Management h£ttdcLo.L If Zc>23 R Briddock- Company Secretary Date approved byihe Council HIGHWAYTRUST UMtTED (a re8lstered charlty and a Company Ilmlted by 8uarantee) Reports and finandal ststements for the year ended 31 December 2022 INDEPENDENT EXAMINER'S REpoirrTO THE TRUSTEES OF HIGHWAY TRUST UMITED I report on the accounts of Highway Trust Limited forthe year ended 31 December 2022. which are set oirt on pa8es 12 to 19. Respe¢tlwe resp￿sIbIlItIeS of truste￿ and exarnln•r The trustees (who are also directors of the company forthe purpose5 of company lawl are responsible for the preparation of the accounts. The trustees consider that an audit is not requbred for thi5 year under section 144121 of the Charities Act 2011 (the 2011 Act) and that an Independent examinatlon Is needed. The thariwsgross Income exceeded £250.OCM) and l am qualified to undertake the examination being a qualified member of the Institute of thartered Accountants In England and Wales. Havln8 Statlsfied myself that the charlty Is not subject to audit under cornpany law and is eligible for independent examlnation. It Is my responsibility to- examine the accounts under seciion 145 of the 2011 Aci: to follow the procedures laid down in the general Direclions wven by the Charity Commlsslon under sectlon 14515llbl of the 2011 Act,. and to state whether particular matters have come to my attention. Bwls of Ind•p•nd•nt •xamln•rfs r•pJrt My examination was carried out in accordance wr¢h the general Directions given by the Charlty Commlsglon. An examlnatlon Indudes a revlew of the accountln8 record5 kept by the ¢harlty and a comparis1￿ of the accounts presented with those records. ￿ also indudes conslderatlon of anv unusual iterns or disclosures in the a¢counts, and seekin8 explanations from you a5 trustees concerning any SLsch matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opion is given as to whether the accoLsnts present a'true and fair view" and the report is Ilmlted to those matters set out in the statement below. io HIGHWAY TRUST LIMITED la reglstered ¢harlty and a Company Ilmlted by 8uaranteel Reports and flnanclal statemerts for the year ended 31 0￿mber 2022 INOEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HIGHWAYTRUST lIm￿ED Independent examlnerfs Statement In connection with my examinatlon. no matter has come to my attention: 111 which glves me reasonable cause to believe that in any material ￿$￿t the requirements.. to keep accounting records In accordance with section 386 of the Companies Act 2(h)6; to prepare accounts whlch accord whh the a¢￿untIng records, comply wlth the accountln8 requSrernents of section 396 of the Companies Act 2￿6 and wlth the method5 and prlnclples of the Ststement of Recommended Pr3¢tlce.' AccountlnB and Reporting by Charities have not been met; or 121 to which, in my opinion, attention should be drawn In order to enable a proper understandlng of the accounts to be reached. On behalf of li HIGHWAY TRUST UMITEO 14 roglst•r•d ch•rlly and J ¢ompJnylrnlt•d lryyJmnt••) R•ports and flnattdal Si*t•m•tytsf•rth•yMr•Y￿•d 31 D•r•mb•r 2￿ St•t•m•nt of knl•l •cU¥lll•s Totsl Tot•1 20 INCOMING RESOURCES eom• and •ndowm•hrtsfrom •Mrnt•d fiwmls Donatlons and legades 4.3C6 7.622 Incornelrorn Investments ¢om• frorn th•rll•bl• •¢llb*ll•s Charges to guests- Thornl•lBh Hot•1 Other Income 425.618 20,985 42S,618 20.985 325,5)9 56.520 TOTAL INCOME AND ENOOWME1475 446,603 450,9J9 389,651 EXPENDITURE ON Expendlture on th•rlt•ble •ctlvlii•s Thornl•lgh hotel 17,764 4K6,433 424,197 337,488 Trust 350 Gov•rn•nu colts 251 251 29 Other expeThd￿ure Interest 8.075 8.075 8,421 TOTAL EXPENDITURE 17.764 415,139 432,9)3 346,288 Net In￿Me/ l•Jpendlturel ltsh581 31.464 i&￿6 43,383 OTHER GAINS AND LOSSES Tron51er betw••n r•Mry•s 12,95 2.957 C4plt•llsed durln8 year Galn on revaluallon ol •ss•ts 811,229 811,229 Net movement In funds 116AIS1 845.6YJ 829,235 43.363 Balance5 brought forward at l janu￿ 2022 24.569 609,768 634.337 s￿,974 Balances ufrled forward at 31 December 2022 &154 1.455.418 1.463.572 634,337 The Statement of Financial kbvities Irtdude5 all galn5 and losses retoqnlsed In the year. Thenotes on pa6e5 14 to 19 form part of these fin•nu¥l ststements. 12 HIGHWAYTRU5TtIMrrED 14 reglsteved c￿rIty and *campwty yw•tt••l Reports #nd fkn•Nl•l $W•m￿lO￿th•YWlfvd1d 31 8•lnnce sheet 22 2021 FIXEDA55ET5 Tanglble a55ets 1,577033 780,676 CURRENT ASSTS stock Debtors Cash at ￿nk and In harKI 920 9.115 231W3 241A38 BSO 9*Y8 186.239 196.987 CREDITOR5'. f•lllr*du•wlthln omymr 1120.821 IiW,5801 NEf CURREPIT ASSEfs 121.017 96,407 TOTAL ASSETSLESSCURRENT LIABILMES L698,89) 8?7,OB4 CREOITOR5: •mounts f•lllNdu• •ft•r morèthM(wwEyur 1235.Z781 1242,7461 NET ASSETS 1.463.572 634,337 114COME FUNDS Re5trlcted fund5 Unre51rirted fundj YOTAL FUNDS 8.154 1,455.418 IA63.572 22,697 611,640 63d,337 For ih•y•ai •nd@d 31 Decèmb*r 2W21 ¢ornp•ty W45 •rfhhdto•x•mp*lonfromaudh s•ctlon 477 01 th• Compan￿$ Act 2 re￿I￿nI io small companles. Olrectors, respDll51bilkles-. The mfftnbers have not iequlred the corbM>•ny loo￿art an of *ttounts foTthp year Inqu¢5tlon In •￿9rd¥n￿wIth 5ectlcm 476,. and Tht dlrethots a¢kr￿4¥18d￿* thdr repornlbiitths tor cony*lwwnhth• ￿q￿le￿Ints ol thopa w￿h re5pe£t to •ccountlng records amd the prtpar•tlon of ￿etsUn1$ These finan¢lal st*ements have been prepa￿0 in •¢¢•vkncewMhthe5peclal appkabl•to compan￿5 5ubJ•ct to thosmall companles reglmÈ. These financlal si*ementS Y4*rp *w)ro¥ed bYt￿tT￿l￿3 ￿ndaut￿* IoT155w on and are 5i8ned onth•r bphalFby= If 402 Rev Da¥hl Crouchley IChaim*nl The ThAe5 On PaV5 14 lo 19 fonn part of ihq5•financièl 5Lal¥mÈl￿. 13 HIGHWAYTRU5TLIPArrED la r•K15t•r•d ch*lty ind i ￿￿￿Try11m1t•d by8u•rnrt••l NotsJtoth•finanthl st•tsm•nts lorth•yMr•nd•d 31 D•c•m￿r2D22 ACCOUND￿ POLKIES The Ilnanclal statemÈnts h8¥e been pr*pIr￿ Yrtd•rt￿ hI￿Or1￿1 cost ¢orvention, modif*d to includo the revalu*ion of certain fixed assets. and in accordance with acceptable ￿Count￿l polKses. The financial statements have been prepared In ￿CordanceWlth the Ststeff*nt of ReCcffiff￿nded Practke ISORPI.'Accountln8 aNI Reportlng by Charltles" Issued It) October 2019 and the Flnan¢ial ReportlAoSt•d•rd 102 leffedhe January 20191 and app15cable actountln8 stsnd•rd& The Chaylty h•$ •v*l•d olP•r48r•ph 4111 of Sthedule l of th• Compani?s Act 2CQ6 and athpted the Companles Artlom1*5to reflertthe 5poclal natwe ofthe ChèrtiVsacU¥lth& C•th fiowststsrnqnt The finandèl stateff*Thts do Mt Indud• a cwh st•t•rnnt bK•ys•th• ¢omp•nyi •$• r•port5nRentlty, 1$ exempt from the wtslrÈmÈnt to prep•r* such • 5t•t•rr•nt und•r th* Fin•nrial Reportyn8 Stsndard 102 (effective Janu•ry 20151. C•mp•ny #•t The Ch•rfty Is a ¢omp•ny Ilmthl by8u•r•nt••. Th• m•mb•rsof th• comp•ny are th• 5er¥lni tnjstees, n•med on p¥• l. In the event ol the Charlty belnqwound up. the Il•blHtyln respertof Ihe auarantee Is Ilmlted to £1 per member of the Charlty. Th• trustees have ¢oThcluded that It15 appropdote to prepare accounts on the4olni concern bas15 asthe Charfty wlll have adequate cash resources and nnandal projertlorts Indk*e that the Charfty wln contlnuetotrnde whh5n Its exlstinq and n•80t18t￿ bank f•t11￿1* FubMI •¢¢ounl Gener•1 funds ère unrtstrkted funds whi¢h •re aV•ll•b￿ for •t the disu¢tion of th¢ tntstees In furtherance of the ieneral oblectl¥e5 of the Chwlty and whlch h4ve not be•n d•s*n•t•d forotl*r Restrfcted fund5 are funds whlch to be used In accordance wlth speclfk restrfrtlons Imposed by dongrs oiwhlth have been ralsed by the Charhy lor partlcukr purposes. The cost of ralslThi adrnlnlsterfng such lunds are charged a8alnstthe speclfl¢ fund. The alm and use of •￿h r•strfcted fund Is set out In the notes tothe flnanclal statem•nts. 6￿•m•no ¢0sts GoVern￿Ce costs are the costsassoclated with the 4￿marKe wranqements ofth• i￿￿rIty indud1￿ ￿￿oUntanCY costs and the necessary le8al prOcedu￿s1oreornpl0afftCeWfth statutory requlremer 14 HIGHWAYTRLisfLIMIFE• Notestothe Siller￿￿(orthPyt•rended3l1)I(eth2￿2(cI￿V1JThXdI Tan￿ble fixed assrtsatestated at C05t less deprecfjhtlorn Cost reprttems purthxepvKewhe¥*ithaThymdentalcostsfo Jcqul%tiorK Oepreciationis prowded. after 1•kiwacc￿I ofanyyants reC￿ble.￿lthefdloWlryI￿Ull rate5 in to ￿tepff ea¢hass*tOvW 11$ Istlmated Lsefd I￿.. FrÈeholdbuldin85- IIK¥nleith ￿￿**1 PtsDt andequiprnent Fixtwe5 andfittln Officttqulpmtnt and hbrnhuY• - 25%on red￿l￿&b￿￿T￿e . ayA￿ tedUt¥¥b•￿r*t The Lind domffitofthe freeWlaTrJ and b￿1*15 noid•pioLlat• Fr••hOld￿n￿ bnd bullthws•v•lKltyl•O1ttth••¢¢o￿￿¥lv1hth b*S•d￿ 5trxk conthisof put¢h•s•d ￿)d$ low rwl•. (tyt r*preS•￿ wi¢h•s*prt¢tt(vthw*4th•nyl￿￿ltTht￿ |||||||| |---|---|---|---|---|---|---| |Other| |Direct Costs|Staff Costs|Allocated|Depreciation|Total|2021| |Costs| |£|£|£|£|£|£| |Direct charitable| |expenditure| |Thornleigh Hotel|160,200|201,650|30,511|14,072|406,434|331,738| |Highway Trust|-|-|380|-|380|350| |160,200|201,650|30,891|14,072|406,814|332,088| |Donations|-|-|-|-|-|-| |-|-|-|-|-|-| |Bursary Fund| |-|-|-| |Development Fund|17,764|17,764|5,750| |Governance costs|-|-|251|-|251|29| |-|-|-| |Interest charges|8,075|8,075|8,421| |-|-|-| |26,090|26,090|14,200| |160,200|201,650|56,980|14,072|432,903|346,288| **----- End of picture text -----**
Staff costs - No employee earned more than £60,000 pa. The average number of employees was 15 (2020: 18) ## **Remuneration of Key Management Personnel** No remuneration was paid to the trustees for services as trustees during the year (2021: £Nil) Day to day management of the hotel is delegated to the Hotel Management Team and their remuneration is as follows: **----- Start of picture text -----**
|||| |---|---|---| |2022|2021| |£|£| |Hotel manager|37,581|32,282| |Hotel accountant|5,450|5,775| **----- End of picture text -----**
Out of pocket expenses were reimbursed to the trustees as follows: **----- Start of picture text -----**
||||| |---|---|---|---| |2022|2022|2021|2021| |Number|£|Number|£| |8|238|8|-| **----- End of picture text -----**
16 HIGHWAYTRUST LIMITED lè re¢lstered ¢harityand a cornpany Imited lry Notes tothe fin￿￿thI ststements fOrthe￿ar•￿dld 311)K•rnb•r 2022 Icontinu•d) NET MOVEME1￿ IN FUNDS FOR THE YEAR 2021 Thls Isststed after tharg5n8-. Depreclatlon lo tan8lble Ilxed asset$ Independent examlners fee 14,072 15.677 1,5L¥) TANGIBLE FIXED ASSE15 i•nd•nd Pl•nt& F￿& Office buldlnp E4i•IFTh•rt ffttI￿ Equlpm•nt Totsl COST CR REVALUATION At l January 2022 Addltlons RevJluatSon Disposals At 310ecember 2022 794.670 50,614 9).562 >10,480 811,229 811,229 i.EIB.899 50.614 9).562 4,634 1,751,709 DEPRECIATIC At l January 2022 ChaT8e for year Disposals At 31 Decernber 2022 49.453 6.447 34,558 2,793 71,534 4,757 4,259 75 159.804 14.072 55. 37,351 76,291 4,334 173,876 NET BCKIK VALUE >J22 1,549.999 13,263 14,271 1.577.833 NET BWK VALUE 2021 745.218 16,056 19,028 375 7ea,676 The property at The Esplanade, Gan8trover-S•ndswas revalued on 31 Marth 2023 byj Haley MRICS of Edward Thompson LLP at £I,5￿.(￿J. Thè trustes con￿der thè valuation tcs faidy reflert ¢he value of the property as at 31 December 2022. 50 has been refiected In these finandal ststernents. The property h45 been revalued at falr value thTou8h the statement of finandal actNltles. As at 31 December 2022 the Trust has completed the refurt)Ishment of the Garden Room. Dlnlna Room and lounge at Thomlelgh Hotel, and contlnued work on iefurblshln8 Other publlt areas. staff accommodation and bedrooms. Relevant ca￿tal costs Incurned in the refuvbishment have been tapltallsed at the year end. all other costs have been charged to profft and loss account as part of the development fvnd. At the completlon of the work any filrther eapital tosts will be upitslised. The refurblshment Is beine funded partly through donations Ilnduded In the development fvndl partly from accurnulated reserves. and throu8h a further Mort￿Re. 17 HIGHWAY TRUST LIMITED lo registered charityand a company lirnited byiuaranteel Notss to flnanchl gtatsments for the Y￿rende￿ 31 C)ecember 2022 Icontlwedl DEBTORS- Amounts du• within on• year 2022 2021 Prepayments Other debtors 18 9.097 9.115 8,054 1,844 9,898 CASH AT BANKAND IN HAIID 2021 Unrestrlcted Réstrkted 223.649 8.154 231.803 161,670 24,569 186,239 CREDITORS- •mounts hlllTh4 du• TAlthln one J••r 2021 Mortgage Deposlts recelved t)n •¢count Other taxes and socfj•l seturlty Trade credltors Other credltors and accwals Other Loans 9.979 34.331 14.880 16.491 39.577 5.563 120.821 16.570 28.764 1,239 6.631 40.758 6.618 ICKI.580 CREDITORS- •mounts •ft•r mo¥•th•n on• ￿•1 2022 2021 Mortgage Other Loans 196.117 39.160 235,278 199,211 43,535 242,746 The followln8 a88re8ate 1labl1lt￿ dlsdosed under tredltors falllng due after more than one year4re due fDr repayment after morE than five years from the balawtce theet d•t•: 173.107 158.213 The remaining temi ofthe repayrnent rnortgage is 16 years and 10 months atthe year etyj. The mortgage 55 setured on the land and buldings atTl￿1￿@h Hotel HIGHWAY TRUST UMrrED la re¢lstered tharfty and • cJ)ny•y Ilmlt•d by8uarantsel 10 RESTrICTED FUNDS Totsl FurMI 2022 2021 Openln8 balance Collectlons and donatlons durlng the year 20,238 1,546 21.784 4231 2,760 7JJ91 24,569 22.697 7.622 30.319 28*75 Grant5 made duTlng the year Transfer tolfrorn UnTestrlcted Reserve Expenditure durln8 the year Tr)nstsrrtd toifxed assets 13.8511 117.7641 12,9571 117,7641 15,7501 At 310ecemter 2022 169 7,985 8.154 24.569 The Bursary Fund Is monles CG41ected from hotel 8uests Fdends of Thornlel8h Hotel and other donatlons and used to subsldlsè travellers In need of a$5ts1ance. The Dev*lopm*nt Fund repre5errts monles collected •r•J used lor the multt-yeèr refurNshment plan for the Hotel. 11 ANALYSB OF NEf ASSETS BEfwEEN FUNDS Fund Totsl Tawlble ffxe¢J jssets Current a5set5 1.577,833 1,577,833 233,684 241,838 1120.8211 1120,8211 1235.2781 1235.2781 8.154 Long term Ilèbllltles Trtal net assets 8,154 1,455,418 1,463,572 12 cofrifROL The char￿V was under the contrd of the trustees throughout the whole of the current and prevlovsyear. 19 HIGHWAYTRUST LIMITED la registered charity and • comp•ny limtted by 8uaranttt) Highway Trust Income and E4)endlture actountfor the year ended 31 December Z022 2022 2021 INCOME Subscriptions and donations Other income Managemenl charge to Thornlelgh Hotel 4,000 4,0 4,000 4,(K)O 1022 2021 EXPENDITURE Coun¢ll, secretarial, conference and training expenses Accountan Miscellaneous 238 380 13 631 350 29 379 Surplus for the year 3,369 3,621 Dlv151on SUTplusl(d•lkltl for th• ye Hl8hway Trust Thornlei8h Hot 3,369 14,637 18.006 3,621 39,742 43,363 Thls page does not fomi part of the statutory accounts HIGHWAY TRUST UMrrED la reg45tered th•Tity ¥nd a (ompwny lirnited byquarantee) Thornlei8h Hotel In¢ome and Expenditure account lor the ¥￿Tended 31 December 2022 2022 2021 INCOME Charges to Hotel guèsts Donations othèr Income Job Retention Scheme Interest on Boun￿ Back Loan Business rates support Business Support Grants 425.618 4,306 15,296 325,509 7,622 42,946 521 1,689 4,th)0 450,909 13.OS3 389.651 EXPENDrruRE Provi5i0ns Staff costs Premise5 and equipment costs General and water rates Li8ht and heat Repair5 and ienewa15 Cleanln8 and laundry Activlty breaks Books for resale 53,675 201,650 36,666 178,720 13.556 24,446 48,125 13.89S 4.901 17.164 30,944 4,751 813 282,958 1,420 361,851 Advertlslng Audit and accountancy Bank charges Insurance Prlnting and stationery 15,514 2,475 3,313 7,248 3,098 lo,￿5 2,807 2,401 6.619 3,110 L 11 Telephone and postage General expenses Mortgagè tntÈrÈst Management charye Subscriptions, licences and donations 9,025 3,784 8,075 7,904 2,960 8,421 3,818 60,349 3,047 51.274 Depreciation: Freehold propertv FixluTes and fittings Office equipment Plant and equipment 6,447 4,757 75 2,793 14,072 6,447 6,343 93 2,794 15,677 Surplusl (deficit) lor the yèar 14,637 39,742 This page does not form part olthe ststutory accounts 21