| CurrentTrustees | MrM Henderson(Chairman) | |
|---|---|---|
| MsCharlotteLambeth(Vice | ||
| Chairman) | ||
| MrGMurrin | ||
| Ms G Harflett | ||
| Rev'dSSwarbrick | ||
| MrsJ Grainger | ||
| MsAForeman | (Appointed 8 November2021) | |
| MrPKeeling | (Appointed21July2021) | |
| Ms SJohnson | (Appointed21July2021) | |
| MsAWiseman | ||
| MrsLWoodward | (Appointed 8 February 2022) | |
| Clerkto the Trustees | MrsLWoodward | (Resigned 31 March 2022) |
| MrAHemmings | (Appointed 1April2O22) | |
| Simpkins EdwardsLLP | ||
| MichaelHouse | ||
| Castle Street | ||
| Exeter | ||
| EX4 3LQ | ||
| Charity number | 247190 | |
| Auditor | Bush&CoLimited | |
| 2 Barnfield Crescent | ||
| Exeter | ||
| EX1lQT | ||
| Bankers | Natwest | |
| Exeter BankBranch | ||
| 59 High Street | ||
| Exeter | ||
| Devon | ||
| EX43DL | ||
| lnvestmentadvisors | lnvestec | |
| 16Dix'sField | ||
| Exeter | ||
| EXlIQA |
| Page | |
|---|---|
| Trustees'report | 1-4 |
| Statementoftrustees' responsibilities | 5 |
| lndependent auditor's report | 6-8 |
| Statementoffinancial activities | I |
| Balance sheet | 11 |
| Statement of cash flows | 10 |
| Notesto the financial statements | 12-25 |
icted funds were: |
|
|---|---|
| Property Extraordinary RepairFund | Ê358,996 |
| Church of St PetrockERIF: | t71,768 |
| Cyclical MaintenanceFund: | t380,674 |
| ReserveFund: | t120,780 |
| Unrestricted Restricted |
Unrestricted Restricted |
Total Unrestricted | Restricted | Total | |
|---|---|---|---|---|---|
| funds funds |
funds | funds | |||
| Notes | 2022 E 2022 s |
2022 2021 ÊÊ |
2021 Ê |
2021 Ê |
|
| lncomefrom: | |||||
| Charitable activities | 3 | 361,846 | 361,846 339,736 |
339,736 | |
| Othertrading activities | 4 | 8,643 | 8,643 8,940 |
8,940 | |
| lnvestments | 5 | 219,900 6,347 |
226,247 233,685 |
5,291 | 238,976 |
| Total income | 590,389 6,347 | 596,736582,361 | 5,291 | 587,652 | |
| Expenditureon: Raisingfunds |
7 | 80,827 4,919 | 85,746 102,669 10,403113,072 | ||
| Charitable activities | 6 | 251,790 19,357271,147253,778 45,675299,453 | |||
| Othercosts | I | 14,487 | 14,48712,456 | 12,456 | |
| Total expenditure | 347,104 24,276371,380368,903 56,078424,981 | ||||
| Netgains/(losses) on investments |
11 | (45,660) (40,s70)(86,230)91,158 | 75,004166,162 |
||
| Netincoming/(outgoing) resources beforetransfers |
197,625(58,499)139,126304,616 24,217328,833 | ||||
| Grosstransfers between funds |
(130,550)130,550 | (132,902)132p02 | |||
| Netmovement infunds | 67,075 72,051 |
139j26 171,714 |
157,119 | 328,833 | |
| Fund balances at1July2021 | 6,186,537 860,168 |
7,046,705 6,014,823 |
703,049 | 6,717,872 | |
| Fund balancesat30June | |||||
| 2022 | 6,253,612932,219 | 7,185,8316,186,537860,168 | 7,046,705 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Notes | g | t | Ê | Ê | |
| Gashflows fromoperatingactivities | |||||
| Cash generated from/(absorbedby) | 24 | ||||
| operations | 35,533 | (81,e55) | |||
| Investingactivities | |||||
| Purchase ofinvestments | (312,941) | (395,597) | |||
| Proceeds from disposalofinvestments | 317,974 | 401,286 | |||
| lnvestment incomereceived | 226,247 | 238,976 | |||
| Netcash generatedfrom investing | |||||
| activities | 231,280 | 244,665 | |||
| Financingactivities | |||||
| Repaymentofborrowings | (50,000) | ||||
| Repaymentofbankloans | (189,885) | (45,343) | |||
| Netcash used infinancing activities | (239,885) | (45,343) | |||
| Netincrease in cash and cashequivalents | 26,928 | 117,367 | |||
| Cash and cash equivalents at beginningofyear | 234,977 | 117,610 | |||
| Cashand cash equivalentsatend ofyear | 261,905 | ,:^,*: |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Notes | Ê | Ê | s | â | |
| Fixed assets | |||||
| Tangible assets | 13 | 3,367,822 | 3,383,989 | ||
| lnvestment properties | 14 | 2,750,297 | 2,750,298 | ||
| lnvestments | l5 | 1,169,478 | 1,260,741 | ||
| 7,287,597 | 7,395,028 | ||||
| Current assets | |||||
| Debtors | l6 | 75,062 | 67,431 | ||
| Cash atbankandin hand | 261,905 | 234,977 | |||
| 336,967 | 302,408 | ||||
| Creditors: amountsfallingduewithin | |||||
| oneyear | 17 | (166,410) | (140,e43) | ||
| Netcurrentassets | 170,557 | 16't,465 | |||
| Total assets lesscurrent liabilities | 7,458,154 | 7,556,493 | |||
| Creditors: amountsfallingdueafter more thanoneyear |
l9 | (272,323) | (509,788) | ||
| Netassets | 7,185,831 | 7,046,705 | |||
| : | |||||
| lncome funds | |||||
| Restricted funds | 21 | 932,219 | 860,168 | ||
| Unrestricted funds | 6,253,612 | 6,186,537 | |||
| 7,185,831 | 7,046,705 |
trustees responsibilitieswithrespecttothe mainte |
nanceofthe almshouse |
|---|---|
| PropertyExtraordinary repair fund | Ê200,000 |
| ChurchatStPetrockERIF: | [50,000 |
| Reserve fund: | e65,000 |
| Cyclicalmaintenancefund: | e73,000 |
| Gharitableactivities | ||
|---|---|---|
| Unrestricted Unrestricted funds funds |
||
| 2022 ÊÊ |
2021 | |
| ContributionsfromAlmshouse residents | 361,846 | 339,736 |
| : | : |
| Othertrading activities | ||
|---|---|---|
| UnrestrictedUnrestricted | ||
| funds | funds | |
| 2022 | 2021 | |
| E | Ê | |
| Solarpanel income | 8,643 | 8,940 |
| : |
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2022 | 2022 | 2022 | 2021 | 2021 | 2021 | |
| Ê | Ê | t | Ê | s | Ê | |
| Rentalincome | 210,040 | 210,040 | 225,718 | 225,718 | ||
| lnterest and dividends | 9,860 | æ4; | 16,207 | 7,967 | 5,291 | 13,258 |
| 219,900 | 6,347 : |
,a,r* | 1y* | 5,291 : |
238,976 |
| Gharitableactivities | ||||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted funds |
Restricted funds |
TotalUnrestricted 2022 funds |
Restricted funds |
Total 2021 |
||||
| 2022 Ê |
2022 f |
ÊÊ | 2021 | 2021 Ê |
â | |||
| Depreciationand | ||||||||
| impairment | 12,192 | 12,192 | 12,192 | 12,192 | ||||
| Service costs | 123,785 | 123,785 | 106,197 | 106,197 | ||||
| lnsurance | 9,046 | 9,046 | 8,191 | 8,191 | ||||
| Propertyrepairs | 28,172 | 19,357 | 47,529 | 45,182 | 45,675 | 90,857 | ||
| Legaland professional | 5,968 | 5,968 | 891 | 891 | ||||
| Clerk'sfees | 51,084 | 51,084 | 49,998 | 49,998 | ||||
| Otherexpenses | 4,931 | 4,931 | 3,509 | 3,509 | ||||
| Loaninterest | 13,162 | 13J62 | 19,218 | 19,218 | ||||
| 248,340 | 19,357 | 267,697 | 245,378 | 45,675 | 291,053 | |||
| Grantfunding of activities (seenote8) |
3,450 | 3,450 | 8,400 | 8,400 | ||||
| 251,790 | 19,357 | 271,147 | 253,778 | 45,675 | 299,453 | |||
| : | : | |||||||
| Analysisbyfund | ||||||||
| Unrestricted funds | 251,790 | 251,790 | 253,778 | 253,778 | ||||
| Restrictedfunds | 19,357 | 19,357 | 45,675 | 45,675 | ||||
| 251,790 | 19,357 | 271,147 | 253,778 | 45,675 | 299,453 |
| Raisingfunds | ||||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Unrestricted | Restricted | Total | ||
| funds | funds | funds | funds | |||
| 2022 | 2022 | 2022 | 2021 | 2021 | 2021 | |
| â | c | I | € | s | Ê | |
| Service costs | 12,791 | 12,791 | 13,845 | 13,845 | ||
| lnsurance | 13,151 | 13,151 | 12,134 | 12,134 | ||
| Legaland professional | ||||||
| fees | 1,522 | 1,522 | ||||
| Clerk'sfees | 18,576 | 18,576 | 18,181 | 18,181 | ||
| Depreciationand | ||||||
| impairment | 3,975 | 3,975 | 3,97s | 3,975 | ||
| 50,015 | 50,01548,135 | 48,135 |
| Raisingfunds | (Continued) | (Continued) | |||||
|---|---|---|---|---|---|---|---|
| Propertyrepairs | 12,375 | 12,375 | 37,255 | 6,180 | 43,435 | ||
| QueenStreet | |||||||
| managementfee | 12,000 | 12,000 | 12,000 | 12,000 | |||
| 24,375 | 24,375 | 49,255 | 6,180 | 55,435 | |||
| lnvestment management fees |
6,437 | 4,919 | 11,356 | 5,279 | 4,223 | 9,502 | |
| 80,827 | 4,919 | : | 85,746 | 102,669 | 10,403 | 113,072 |
| Grants payable | ||
|---|---|---|
| Unrestricted Unrestricted funds funds |
||
| 2022 €Ê |
2021 |
|
| Grantsto institutions: | ||
| St Petrock's Centre | 5,000 | |
| Grants payable to residents | 3,450 | 3,400 |
| 3,450 | _i1i |
| Other | costs | ||
|---|---|---|---|
| UnrestrictedUnrestricted | |||
| funds | funds | ||
| 2022 | 2021 | ||
| Ê | |||
| Clerk's | fees | 7,740 | 7,575 |
| Audit | 5,000 | 3,900 | |
| Legal, | professional andbankfees | 1,747 | 981 |
| 14,487 | 12,456 |
| Netgains/(losses) on i | nvestments | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | ||||
| funds | funds | funds | funds | ||||||
| 2022 | 2022 | 2022 | 2021 | 2021 | 2021 | ||||
| Ê | Ê | â | Ê | f | Ê | ||||
| Revaluation of | |||||||||
| investments | (46,424) | (40,797) | (87,221) | 90,231 | 75,088 | 165,319 | |||
| Gain/(loss) on saleof | |||||||||
| investmenls | 764 | 227 | 991 | 927 | (84) | 843 | |||
| (45,660)(40,570) | : | (86,230) | 91,158 | 75,004 | : | 166j62 |
| Tangiblefixedassets | |||||
|---|---|---|---|---|---|
| Freeholdland | Leasehold | FixturesandSolarpanels | Total | ||
| andbuildings | landand | fittings | |||
| buildings | |||||
| f | E | Ê E, |
Ê | ||
| Cost Al1July 2021 |
2,971,436 | 338,207 60,945 76,585 | 3,447,173 | ||
| At30June 2022 | 2,971,436 | 338,207 60,945 76,585 | 3,447,173 | ||
| Depreciation andimpairment | |||||
| At1July2021 | 30,266 32,918 |
63,184 | |||
| Depreciation chargedinthe year | 12,192 3,975 |
16,167 | |||
| Al30June2022 | 42,45836,893 | 79,351 | |||
| Carryingamount At 30 June 2022 |
2,971,436 | 338,207 | 18,487 39,692 | 3,367,822 | |
| : | |||||
| At 30 June2021 | 2,971,436 | 338,207 | 30,679 43,667 | 3,383,989 |
| Listed | |
|---|---|
| investments | |
| Ê | |
| Al1July 2021 | 1,260,741 |
| Additions | 312,941 |
| Valuationchanges | (86,239) |
| Changesinbank cash holdings | 10,065 |
| Disposals | (328,030) |
| At30June 2022 | 1,169,478 |
| Carryingamount | |
| At30June 2022 | 1J69í78 |
| At30 June 2021 | 1,260,741 |
| Debtors | ||
|---|---|---|
| Amountsfallingduewithinoneyear: | 2022 Í |
2021 Ê |
| Other debtors | 55,859 | 53,450 |
| Prepayments and accrued income | 19,203 | 13,981 |
| 75,062 | 67,431 |
| Greditors: amountsfallingduewithinoneyea | r | ||
|---|---|---|---|
| 2022 | 2021 | ||
| Notes | Ê | g | |
| Bankloans | l8 | 57,861 | 60,281 |
| Trade creditors | 17,162 | 13,167 | |
| Other creditors | 27,875 | 27,875 | |
| Accruals and deferred income | 63,512 | 39,620 | |
| 166,410 | :!:' |
| Loansandoverdrafts | ||
|---|---|---|
| 2022f | 2021I | |
| Bankloans | 208,899 | 398,784 |
| Otherloans | 50,000 | |
| 208,899 | yr^ | |
| Payablewithin one year | 57,861 | 60,281 |
| Payable after one year | '151,038 | 388,503 |
| Amounts included above which fall dueafter fìveyears | ||
| Payablebyinstalments | 125,242 |
| Creditors: amountsfallingdue aftermorethan o | neyear | |||
|---|---|---|---|---|
| Notes | 2022t | 2021 c |
||
| Bankloans | l8 | 151 | ,038 | 338,503 |
| Other borrowings | 50,000 | |||
| Deferred income | 20 | 121,285 | 121,285 | |
| 272,323 | 509,788 | |||
| : | ||||
| Deferredincome | ||||
| 2022 | 2021 | |||
| Ê | Ê | |||
| Arising from deferredgrantincome | 121,285 | 121,285 : |
| Theincome funds | of thecharityin | clude restricted | fundscomprising thefollow | fundscomprising thefollow | ingbalance | s held on trusl | for specificp | urposes: | urposes: | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Movèment infunds | Movemènt infunds | ||||||||||
| Balanco at IJuly2020 e |
rêsources Ê lnooming |
I Resgurces expendod |
Transfe6Revaluat¡ons, gains and lossês ÊE |
Bãlencê ât 1July2021 € |
lncoming resourceS ¿ |
R€sourcês expsnded feÊ |
TransforsRevaluat¡ons, gains and losses |
Balanco at 30June 2022 t |
|||
| Property ERF | 277,351 | 2,252 | (8,63e) | 33,858 | 39,243 | 344,065 | 3,511 | (2,643) | 31,506 | (17,441) | 358,998 |
| St Petrock's | |||||||||||
| Church ERF | 64,058 | 485 | (406) | 13,660 | 77,797 | 519 | (85e) | (5,689) | 71,768 | ||
| Cyclical | |||||||||||
| Maintenance | |||||||||||
| Fund | 270,891 | 1,495 | (3,679) | 56,876 | 12,826 | 338,409 | 1,292 | (3,882) | 56,876 | (12,021) | 380,674 |
| Reserve Fund | 90,749 | 1,059 | (43,354) | 42,168 | 9,275 | 99,897 | 1,025 | (16,892) | 42,168 | (5,41s) | 120,779 |
| 703,049 5,291 | (56,07S)132,902 75,004 860,168 6,347(24,276| | ',130,550 (40,570)932,219 |
| 22 | Analysis of net assetsbetweenfunds | Analysis of net assetsbetweenfunds | |||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Unrestricted | Restricted | Total | |||
| funds | funds | funds | funds | ||||
| 2022 s |
2022 Ê |
2022 €Ê |
2021 |
2021f | 2021 Ê |
||
| Fundbalances at 30 | |||||||
| June2022 are | |||||||
| representedby: | |||||||
| Tangibleassets | 3,367,822 | 3,367,822 | 3,383,989 | 3,383,989 | |||
| lnvestment properties | 2,750,297 | 2,750,297 | 2,750,297 | 2,750,297 | |||
| lnvestments | 666,711 | 502,767 | 1j69,478 | 712,496 | 548,245 | 1,260,741 | |
| Currentassets/(liabilities) | (258,895) | 429,452 | 170,557 | (150,457) | 311,923 | 161,466 | |
| Longterm liabilities | (272,323) | (272,323) | (509,788) | (50e,788) | |||
| 6,253,612932,219 | 7,185,831 | 6,186,537860,168 | 7,046,705 |
| 24 | Gashgeneratedfromoperations | 2022 | 2021 | |
|---|---|---|---|---|
| â | Ê | |||
| Surplusfor the year | 139,126 | 328,833 | ||
| Adjustmentsfor: | ||||
| lnvestment income recognisedinstatementoffinancialactivities | (226,247) | (238,976) | ||
| Gain ondisposal of investments | (ee1) | (843) | ||
| Fairvaluegainsand losses on investments | 87,221 | (165,319) | ||
| Depreciation and impairmentoftangible fixed assets | 16,167 | 16,167 | ||
| Movementsinworkingcapital: | ||||
| (lncrease)/decreaseindebtors lncrease/(decrease)increditors |
(7,630) 27,887 |
34,707 (*,tr) |
||
| Cashgenerated from/(absorbed by) operations | 35,533 | tï1, | ||
| 25 | Analysisof changesinnetfunds/(debt) | |||
| AtIJuly2021 â |
CashflowsAt30 ÊÊ |
June2022 | ||
| Cashat bank and inhand | 234,977 | 26,928 | 261,905 | |
| Loansfalling due within oneyear | (60,281) | 2,420 | (57,861) | |
| Loansfalling due aftermorethan oneyear | (388,503) | 237,465 | (151,038) | |
| (213,807) | 39t* | 53,006 |