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|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|





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|<br>icted funds were:||
|---|---|
|Property Extraordinary RepairFund|Ê358,996|
|Church of St PetrockERIF:|t71,768|
|Cyclical MaintenanceFund:|t380,674|
|ReserveFund:|t120,780|



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||Unrestricted<br>Restricted|Unrestricted<br>Restricted|Total Unrestricted|Restricted|Total|
|---|---|---|---|---|---|
|||funds<br>funds|funds|funds||
||Notes|2022<br> <br>E<br>2022<br>s|2022<br>2021<br>ÊÊ|2021<br>Ê|2021<br>Ê|
|lncomefrom:||||||
|Charitable activities|3|361,846|361,846<br>339,736||339,736|
|Othertrading activities|4|8,643|8,643<br>8,940||8,940|
|lnvestments|5|219,900<br>6,347|226,247<br>233,685|5,291|238,976|
|Total income||590,389 6,347|596,736582,361|5,291|587,652|
|Expenditureon:<br>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<br>investments|11|(45,660) (40,s70)(86,230)91,158||<br>75,004166,162||
|Netincoming/(outgoing)<br>resources beforetransfers||197,625(58,499)139,126304,616 24,217328,833||||
|Grosstransfers between<br>funds||(130,550)130,550|(132,902)132p02|||
|Netmovement infunds||67,075<br>72,051|139j26<br>171,714|157,119|328,833|
|Fund balances at1July2021||6,186,537<br>860,168|7,046,705<br>6,014,823|703,049|6,717,872|
|Fund balancesat30June||||||
|2022||6,253,612932,219|7,185,8316,186,537860,168||7,046,705|





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|||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||,:^,*:|





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|||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<br>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|





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|<br>trustees responsibilitieswithrespecttothe mainte|<br>nanceofthe almshouse|
|---|---|
|PropertyExtraordinary repair fund|Ê200,000|
|ChurchatStPetrockERIF:|[50,000|
|Reserve fund:|e65,000|
|Cyclicalmaintenancefund:|e73,000|



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|Gharitableactivities|||
|---|---|---|
||Unrestricted Unrestricted<br>funds<br>funds||
||2022<br>ÊÊ|2021|
|ContributionsfromAlmshouse residents|361,846|339,736|
||:|:|





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|Othertrading activities|||
|---|---|---|
||UnrestrictedUnrestricted||
||funds|funds|
||2022|2021|
||E|Ê|
|Solarpanel income|8,643|8,940|
||:||



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||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<br>:|,a,r*|1y*|5,291<br>:|238,976|





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|Gharitableactivities|||||||||
|---|---|---|---|---|---|---|---|---|
||Unrestricted<br>funds|Restricted<br>funds||TotalUnrestricted<br>2022<br>funds||Restricted<br>funds||Total<br>2021|
||2022<br>Ê||2022<br>f|ÊÊ|2021||2021<br>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<br>(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|



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|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|





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|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<br>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|



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|Grants payable|||
|---|---|---|
||Unrestricted Unrestricted<br>funds<br>funds||
||2022<br>€Ê|<br>2021|
|Grantsto institutions:|||
|St Petrock's Centre||5,000|
|Grants payable to residents|3,450|3,400|
||3,450|_i1i|



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|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|



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|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|



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|Tangiblefixedassets||||||
|---|---|---|---|---|---|
||Freeholdland|Leasehold||FixturesandSolarpanels|Total|
||andbuildings||landand|fittings||
||||buildings|||
||f||E|Ê<br>E,|Ê|
|Cost<br>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<br>32,918|63,184|
|Depreciation chargedinthe year||||12,192<br>3,975|16,167|
|Al30June2022||||42,45836,893|79,351|
|Carryingamount<br>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|



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||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|



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|Debtors|||
|---|---|---|
|Amountsfallingduewithinoneyear:|2022<br>Í|2021<br>Ê|
|Other debtors|55,859|53,450|
|Prepayments and accrued income|19,203|13,981|
||75,062|67,431|



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|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|:!:'|





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|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|



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|Creditors: amountsfallingdue aftermorethan o|neyear||||
|---|---|---|---|---|
||Notes||2022t|2021<br>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<br>:|



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|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<br>IJuly2020<br>e|rêsources<br>Ê<br>lnooming|I<br>Resgurces<br>expendod|Transfe6Revaluat¡ons,<br>gains and<br>lossês<br>ÊE||Bãlencê ât<br>1July2021<br>€|lncoming<br>resourceS<br>¿|R€sourcês<br>expsnded<br>feÊ|TransforsRevaluat¡ons,<br>gains and<br>losses||Balanco at<br>30June<br>2022<br>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|||





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|22|Analysis of net assetsbetweenfunds|Analysis of net assetsbetweenfunds||||||
|---|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total Unrestricted||Restricted|Total|
|||funds|funds||funds|funds||
|||2022<br>s|2022<br>Ê|2022<br>€Ê|<br>2021|2021f|2021<br>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|



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|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<br>lncrease/(decrease)increditors||(7,630)<br>27,887|34,707<br>(*,tr)|
||Cashgenerated from/(absorbed by) operations||35,533|tï1,|
|25|Analysisof changesinnetfunds/(debt)||||
|||AtIJuly2021<br>â|CashflowsAt30<br>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|