REGISTERED CHARITY NUMBER: 247231 Re ort of the TThs W Smedl
sws Contents f Financial Sta Pag¢ Epitome R¢port of the Trustees 2to6 Report of the Inde[dent Auditors 7t08 Ststemeni of Financial Activitie5 Balance Sheet 10 Notes th the Financial Stst¢m¢nts Detailed Statement of Financial Activities 161017
itome for the Year Ended 5 A Samuel Wallace smleY died on 27th December 1958. Under the tern15 of his Will he devised and bequeathed his residuary estate (subject to a life Énterest for his widow who died 5th May 1964) tt> his truslee5 upon tru51 to purchase land5 in such parLS of England and Scoiland as they dttmcd suitable, preference being given to those districts in which the testator had been engaged in the fruit growing busines and to erttt on any such lands a house or houses for th¢ fr¢¢ Occupati by such aged and nttdy and deserving r$5 &$ the tswstees select. As an altemalive, the trustees are empowered to purch lands with a suitable house OT houses erected thereon. The trustees are to retain suffi¢i¢ni of the residuary estate for the repair. insurance and generdl upkeep of suth home or homes and payment of all oUoigS thereon. The decision &8 to th¢ persons $uÈtsbk to be pmvidd with fffe homes is the absolute discretion of the trustees. In 1966 1969 the ts]tt$ purchased freehold land Cannon Stre¢ Wi5bech and at Blairgowrie in Scotland and have built Old Peoples, Homes on ihose sites. A further purch of freehold laThl at Cannon StreeL Wisbech was made by the trustees in 1977 on which three bungalows were built in 1983. The trn$tees sold a]1 the prowties in Blairgowrie over the period June 1993 to Mah 2007 th¢ h(se$ became va¢oni. The118t house and remaining land with planning pellnission foT six Iow-COSt houses were sold to anothercharitable tDJsL the Seryite Housing Association. The tru51e¢s purchased two bungalow5 in Et Dereham. Norfolk in 1992 and a further bungalow in 1995. No. 29 Trinity Close, Dereham was 501d in Febnjary 2006 and No. 7 in Db¢r20l1. Thc1&stremaining bungalow, 24 Trinity Close, was sold on 14th May 2015. In 1993 and 1994 the trustees PUTchased two cottages in Ston Easton. Bath. The sold Wootside Cottsge in May 2003 and Rounder Cottage iti February 2005. In 2001 the tr]s¢ees purchased two prcyerties, No's. 8 & 10 Clemens str t£amingt(Mi S The ttustees purth&s¢d shares in the National Association of Almshouses Common InVesent Fund under a %h¢m¢ made in 1962 by the Charity Commissioners under seuion 22 of the Charities Act 1960 for the benefit of Almshouse Charities. In 2008 the trustees resolved to move funds within the National Asso¢iatM)n Common Investment Fund to Quilter ChevioL In 2009 trusiees acquÉred two parcels of land at 4a Cannon Street and 38 West Stree( Wisbech. A further piece of land, 37 West Str¢ei h&$ been acquired on a 125-year le&se with an annual renl of £2,500 subject io review every ten years. Th¢ allnual reni is accounted for &s direct charitable expenditure. In January 2011. the tru5t¢es purchased 'Riviera", a bungalow on Cann(m Street. Renovations completed during 2011 and it is now the warden'5 r¢sidence. Durtng the financial year to 5th April 2013 WO was complets4 within budge¢ on the development of four flats on the th)ve-mentioned parcels of land. In October 2015 trustees all aCed to PToceed with phase 11 of the dev¢lopment of the above land. The construction of a further len flats w&4 completed in De¢ember2018. The re5iduary trust hos b¢en registered &s a charitable trus1 under the Chariiies Ad 1960 and has been all(ated the number 247231. Page I
The tsustees present their repi)rt logeth¢r with the audited financial sthtements of th¢ Charity for the year ended 5th April 2023. The trustees ¢onfJrni thai the annual report and financial stat¢rn¢nts comply with statutory requirements of the Trusts goveming documeni and the provisions of the Statement of Recomtnended Practice {SORP). applicable to charities prepartng their accounts in accordance with the Financial lieporting Standard 102 (effective l January 2019). OWECTIVES AND ACTIVITILS Objeetiveg aDd The obje¢tiv¢s of the clwity are the reli¢f, either generally ry individually. of elderly andlor disabled persons who are in condition5 of ne¢d. hardshRP or distress. There w¢r¢ no changes to the obFrtives of th¢ (knrity durtng the year under Teview. Sigrtifieant activities The Trust has provided accommodation in IK4nes in Wisbech for elderfy and deseTving persons. Public b¢nefh The TNslees have had due regard to guidance published by the Chartty Commission on public benefit and are satisfi the TtUSt meets all the rel¢vant crittti& Progress and ower¥iew of eh*rity The Charity has bec resPsIble for mainlaining the following homes residents during the year.. 51b Aprll 21123 5th April 2022 Homes Residents H(ffnes Residents Wisb¢ch 30 30 30 The costs of maintaining the above homes ar¢ more particulwty idents.fied in the annual Attounts. This Charity also owns properti&s in Warwirk5hire for th¢ use of Age UK Coventry & Warwickshire {AUKCW). for which a reDtsI income is received. AUKCW PTovid¢ a wide Tge of facilities for local aged and needy perTrs. Page 2
Re ort ofthe Tnlee$ for the Year Ended ACHIEVEMENT AND PERFORMANCE Chsritable aetivities During the year. the Tru continued to Provide comm(thion and grant assistance to assist elderly people in need. The Trustees also continued to provide management support to our cmploytts: the Wardens at Wisbech, and continued to be satisfied with their hard Work and dedicated serYi¢e. Occupancy kve15 in the fiats wert once again at l(W• for most of the year. The safety and stturity for all residents in the T4[n8 periryl was again constantly under review. To ¢ontinu¢ to ensure the safety and wellbeing of the Trusvs residents and employees; To continue w review its governance documenlation and policies. To continue to review its appropriate and effective use and PTud¢rtt investment of its finances" Funding of ¢hrlty and fiMDcial position Th¢ Charity's main source of fimding is the weekl). maintenantt ¢ontrÈbutions arEd housing benefrt from residents. Investment and renthl income also Contributr th the Clwitys funding as detsiled in the not¢s to these accounts. ition of The thjstees refer to the accounts for the y¢ar and report that the Genera] Fund of the charity has met th¢ day to day rLEnning costs of th¢ homes and other ¢lwitsble assistance. They also report that the Special Repair Fund have adequate resources to provid¢ rnonies for extensive r¢paits andlor retwildin8 of the homes at a future date. The trustees r¢port that there hav¢ b¢¢n no significant changes from the date of the accounts (5th April 2023) to the date of this report.
rt ofthe Trnstees f rth Year Ended 5 A "12023 ACHIEVEMENT AND PERFORMANCE IDve5tm¢nt p¢rforJn2n¢¢ The Trnsvs portfolio lost 4.6% over the period 6th April 2022 to 5th April 2023 whi¢h wmpares with a benchmark loss P¢riod 06.04.17- 05.04.18 06.04.18 - 05.04.19 06.04.19- 05.04.20 06.04.20- 05.04.21 06.04.21- 05.0422 06.04.22-05.04.23 Portfolio % Benchrnark V• -11.5 22.0 27.4 Investsnents are managed by (lIter Chevtot with the objective of providing a balance bett¥een income f the ongoing d¢velopm¢nt and maintenance of the existing properties and maintsining the real value of this income I capital over the long terni, a balanced Malal¢ with a m(wJerate attitude to risk. The perforniance of the rtfoliO is Mellred against an appropriate benchmark agreed between trustees and Quilter Chevith. A member of Quilter Ch¢viot attends a trustees. meeting once a yw to r¢port on the porfolio. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The basi5 for the Trust to the 27th April 1998 wa8 the Will of Samuel Wall¥e Smedley who died on 27th tkwnber 1958. An ¢piloTne of will is annexed to these Trust accounts. On 23rd April 1998, The Charity Commissioners approved a new xheme for the administrlon of the Charity {amded 4th July 2001). Organis•tioD¥I struethre and decisiop w•king The btrJ>' of Ttustees consists of no less than three nor mor¢ than nine competent peT50n5. The homes are underthe direct management and supervision of the trys. Trnsttts usually thke restx)nsibility for those propertie5 that are nearesi to them geogrnphically. Decision$ are taken by a majority of trustees voting on a pn)posal. The Chainnan has a wting vote whetheT he OT she has or has not vthed previously on the sam¢ question but no tn¢¢ in any circumstsnce5 shall have more thatl one vote. Trus*¢s are appointed for a ter of five years by a rw1ut1L of the trustee5 p¢d at a special meeting ofwhich not less than 21 days notice must be gtven. The Body of Trustees keeps the skill requirem¢nts of the Tn under constant review and if a trustee reiires or an additional new tnJste¢ is r¢quired, the ts] us¢ theirprofessional and personal cOn¢ts to re£ruLi the new mistee. Any prospective trustee is always invited to a full Trustees, meeting. On ¢Ili0n, a n¢w trusttt is given a welcom¢ pack which includes a brief hisw of the TTU51 ¢opy of most recen¢ minutes, pY of previous three years of annual accounts and a copy of the ¢hgrity scheme. All trustees and officers of the Trust are offered appropriate training. Pag¢ 4
S W Srnedl Charitable T rt of the Trustees f th Ycar Ended S A REFERENCE AND ADMINISTRATIVE DETAILS Registered Chgrity numb¢r 247231 Principal addrus la Lewis Road Radford Semele Leamington Spa CV31 IUB Trnstees Ms C F Smedl¢y (appointed to 10.07.24) Mr D D Salmon (appointed to 12.07.2T) Mrs E Morris (appointed to 12.0727) Mr I W Srnedley {appotnted to 12.07.27) Mr R J BIK)ty {appointed to 10.0724) Mrs S E Boldero {resigned 31.07.22) Auditors Moore Green 22 Friars Street Sudbury Suffolk COIO 2AA Solicitors Fr&5er Dawbarns 1-3 Yot Row Wisbech Cambs PE13 2EA Rtievllt Organiuthns Reeves & Partner5 Ltsl Chartered Surveyors and C4)mmercial Prop¢rty Consultants 2 Euston Place Leaminwon Spa Warwickshire CV32 4LE Boldero & Co. Chartered Accountants The Bircham Centre The Market Place Reepharn Notwich NRIO 4JJ Messrs. Grout & Judge Insurance Brokers Buckland House 29 Dingwall Road Croydon CRO 2NB Page 5
dle Charitable Tt rt of the Trustees for the Year Ended 5 A REFERENCE AND ADMINISTRATIVE DETAILS Relevant OryanisatioNs {¢onL) Lloyds Bank 16 Gentleman's Walk Norwich NR2 112 Quilter Cheviot One Kingsway London WC2B 6AN STATEMEf4T OF TRUSTEES RESPONSIBILITIES The tsSleeS are re5pon5tble for preparingthe financial statelnents in accordance with applicable law and United Kingdom Accounting Srandards (United Kingdom Generally Accepted Accountillg Pra¢ti¢e). The law applicable lo Charities in England and Wale& theCharitie5 A¢t2011. Chartry (Accounts and Reports) Regulations 2008 and the provisions of the tryst deed requires the tsuste¢sto prepare financial swem¢nLS for each financial year whith give a true and fair view of the stste of affairs of the ¢harity and of the incorning resources and application of resources, including th¢ income and expenditure, of the charity for wiixl. In preparing those fjnanciai statements. the ttustees are required to select suit&ble accounting FK)li¢ies and then apply them consistently; observe the methods and principles in the Charit), SORP; make judgements and estimates that are reasonable and prudent: prepare the finanrial sratements on the going concern basis unless it is inappropriate to presume that the charity will ontinue in busines5. The trustres are resEM)nsible for keeping proper accounting records whith disclose wÈth reasonable accuracy at any time the financial position of the charity and to enable them to en$ure that the fmancial statements comply with the Charities Act 201 I, the Chariry (Accounts and iieports) Regulation$ 2008 and the provision5 of the trust deed. They are also responsible forsafegu3rdingthe &ssetsofthe charit). and hence ftaking reasonable step5 forthe pmentiOD and detection of fraud and other irregularities. Approved by order of the ix)ard of nwees on ... z< and sign¢d on its behalf by.. Mr I W Srnedley- Trustee
Re ort of the Inde ndent Auditors to the TnL8ttts of Opiniott W¢ have audited th¢ finon¢ial ststements of S W Smedley Charitable Trusi (the "charity.) for the year ended 5 April 2023 which compris¢ Siatement of Financial Activities. Balance Sheet and notes to th¢ financial statements, including a summary of si1f]¢ont a¢counting policies. The financial reporting framework that has been applied in their preparation is applic8ble law and United Kingdom Accounting StaDdar(ts, including Financial Reporting Standard102 The FinémcialReporting.gi¢mdardapplicahle in ihe L'KandRepuhlic oflrelaKdlUnited Kingdom Generally Accepted Accounting Practice). Thi5 r¢port 15 made solely to the ¢harity's tThstees. as a b(MJy, in accor with Part 4 of the Charities (Accounts and Report8) R¢gulations 2008. Our audit work been undertaken so that we might state to the charity's tTree5 those matters we are required to Srare w them in an auditor's report and for no Oth PUT5¢. To the full¢st ext¢nt perniitted by ]aw. we do nol acc¢pt or assume responsibility to anyone other than the charity at]d the charity'5 tru5t¢e5 a btyjy, for our audit worL for this repor4 or for the opinions we have formed. In our opinion the financial staternents.. giv¢ a tru¢ and fair view of the state of the charity's affair5 as at 5 April 2023, and of its incoming r¢sour¢e5 and appli¢ation of resources, for the year then end¢d: have been properly prepared in aordanCe with United Kingdom Generally Accepted Accounting Practice: and have been prepared in accordance with th¢ requirements of the Charities Act 2011. Basis for opinion W¢ ¢onducted o%]r audit in accordance with International Stsndlrds on Audiiing (UK) IISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethica] r¢quireTnents that are relevant to our audit of the financial statements ill th¢ UK, includingthe FRC'S Ethical Standard. and we have fulfilled ourotherethical resp)n5ibiltlies in a¢¢ordan¢¢ with th¢se requirements. We believe that the audit evidence we have obtained is sutTicient and appropriate to provide a b&sis for our opinion. ConelvsioDS relating to goittg eoDeern We have nothing to report in respect of the following matter5 in relation to which th¢ ISAS (UK) require us to report to you wh¢re.' the tru5tees' use of the going cotkcern basis of a0ting in the preparntion of th¢ financial statrments is not appropriat¢; or the trustees have not dis¢losed in the fllwicial staternts any identified matertal uncertainties that may cast signifith]t doubt about the charity's ability to continue w adopt th¢ going concern basis of xcounting for a per1j of at least twelve mi)nths froTn the date when the f]nancial swements are authorised for issue. Other informatiDll Th¢ trustees are responsible for the other inforn)ation. The other inforn)ation Comprises the information in¢luded in the trustees, annual repo otherthan the financial stai¢ments and our auditor's report thereon. Chwopinion on the fu1¢1a[ ststements does not coverthe other inforniatio and. except to the exteni othenvise explicitly srated in our reporL we do not express any form of &8surance conclusion th¢reon. In connectiott with our audil of the financial sMement& OUT re5pon5ibility is to re1 the other infom)ation and. in doing $0. consider whether th¢ oth¢r infollnation is MeriallY inconsistent with th¢ fmancial Statements or our knowkdg¢ obfained in the audit or otherwise appears to be materially misstated. If we ideniify such material inconsi5t¢ncies or appar¢nt merta] misstalemenW we 8r¢ required to determin¢ wheiher there is a material misslatement in the financial statements or a MerIa] rnisstaternerjt of the other information. If. based on the Work we have perfomied. we conclude that there is a mawial misstatement of this rts informatton. we are required to report that faLt. We have nothing io report in this regard. [contlnued...]
rt of the Ind endent Auditors to th W Smedl Charitable Trust Matter5 Ort whieh we ar¢ required to Teport by exeeptlo We have nothingtoreport in respect ofthe following matters in relatioti to which theChaTities (Acwunts and iietths) Regu10n$ 2008 requtre us to report to you if, in our opinion.. the inforniation given in the fman¢ial statements is inconsient in any material reSpt with th¢ trust¢e5' report; or sutTicient accounling rewrds have not Fen kepr or the financial statements ar¢ nol in agreement with the xcounting Tec(Yds: or we have not received all the inforniation and explarwtis we require for our audTL Resptsnsibilitles of trust¢es As explained more fully in thettustees. responsibilities ststrment Iset (¥Jt on pag¢ 61. the tritses are responsible for the prepardtion of financial statements whi¢h give a rne and fair view. and for such internal control a5 the tyusiees detennine is n¢$S3ry to enable the preparation of financial ststements that aTe free from material misstatemenL whdher due to fraud or error. In preparing the financial statements, the trustees are responsible for asse&sing the charity'5 ability to continu¢ a going concern. disclosin a5 appli¢able, matter5 related to going concern and using the going concem basis of accounting unless th¢ trustees either intend to liquidate the charity or to cease opcralions. or have no realistic altemative bui to do so. AuditOT'S responslbilities for the *udlt ofthe finaD¢iil $tsttmeDts We have been appointed as auditor under section 144 of the Chariiies Act 2011 and repLYt in accordance with regulations made under section 154 of that Act. Our objectives are to obtsin reasonable assuran¢e about whetherth¢ fmancial statements as awhole arefree from materia] misstatem¢nL whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable &ssurance 15 a high level of &ssuran¢e, but is not a guarantee that an audit conducted in accordance with lSAs (UK) will always deteth a material mis5taiement when it exists. Misstatem¢nts can arise from fraud or ern)r and are considered material if. individually or in the aggregate. they could reawnably be expe¢t¢d to influence the ¢¢onomic decisions of uws tsken on the b]S of these financial ststements. A further description of our re5pon$ibilities for the audit of the fmaDrial statements is l(Kated on the Financial Reporting Council's w¢b5Lt¢ at.. www.frc.org.ukl itorsr¢sponsibilities. This description fiyms part of our allditor's rwrt Moore Green Statutory Audhtor Eligible to act as an auditor in ternis of Sertion 1212 of the Companie5 Act 2(K)6 22 Friars Street Sudbury Suffo]k COIO 2AA Date.. Moore Green eligible lo aa as an audiior In iernLf ofseclion 1212 ofthe Lomp¢mies Aci 2006. ge8
S W Smedl Charita Stat¢m¢nt of Financial Activiii e Year En 5A -1202 5.4.23 Total funds 5.4.22 Total funds I]¥COME AND ENDOWMENTS FROM Investment income 48,S89 39,816 Other ineome 152.583 185.226 Totsl 201,172 225.042 EXPENDITURE ON Portfolio management 15,052 15.444 Goyernance 26,171 21,888 Management 1,650 828 Charitable activities Upkeep of Almshouses 79.659 129,106 122.532 167,266 Net loss (2022 - gain) on investments (184299) 139.792 NET INCOME I (EXPENDITURE) (105.659) 197,568 Total fund$ brought forward 5,486,595 5.289,027 TOTAL FUNDS CARRIED FORWARD 5.380,9i6 5.486 595 CONTINUING OPERATIONS All incom¢ and expenditur¢ has aTisen from continuing &ttvitie& Page 9
W Smedle Charitabl¢ T Balance 5.423 Toral funds 5.4.22 Totsl funds Not&s FIXED ASSETS Tangible assets Investmenis 2.681.836 2.472.550 2,681,836 2,623.687 5.154.386 5.305.523 CURRENT ASSETS Pr¢payments and acCn income Cash at bank 116 231,717 188,903 231.833 188.903 CREDITORS Amounts falling due wtthin one year (5.283) (7,831) NET CURRENT A&SETS 226 550 181 072 TOTAL ASSETS LESS CURRENT LIABILITIES 5,380,936 5.486.595 NET ASSETS 5.380.936 5 486.595 FUNDS UDr¢stricted funds 5.380.936 5 486,595 TOTAL FUNDS 5.380 936 5.486,595 Th¢ financial statem¢nts were approv¢d by the B03rd of Tnee5 on . its behalf by: ¥2(t . and weTe signed on Mr I W Sm¢dley-TTU5tee Page 10
hari leT ded5A ACCOUNTING POLICIES Ba81s of prepAring the finaneiil statements The financial statements of the charity. which is a publ&c benefit entty under FRS 102, have be¢n prepared in accordance with the Charities SORP IFRS 102) 'Accounting and Reporting by Charities- Ststemenl of Recommended Practice applicable io charities preparing their accounts in accordance with th¢ Financial Reporting Stsndard applicable in the UK and Republic of Ir¢knd {FRS 102) (effedive l January 2019),. Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and th¢ Charities Act 201 l. The fmancial 5tstements have b¢¢n prar¢ und¢r th¢ historical cost convention with the exception of invtstments which are included at market valu¢ as modified by the revaluion of certaiE] assets. Intome All incom¢ i5 recognised in th¢ Sratement of Financial Activities once the charity has entitlement 10 fhe fuThJs; it is probable that the income will be rec¢iv¢d and the amount Con be m¢asured reliably. Eip¢nditur¢ Liabilities are recognised as expenditire as scth as there is a legal ConshCtiVe obliwion committing the chartry to that expenditure, li is probable a transfer of economic benefits will be required in settlement and the amounl of the obligation can be me&sur¢d reliably. ExpertditUT¢ is accounted for on an aecruals b&8is and has been classified under heing$ th aggregate all cost related io the category.. Where costs cannot be direetly a[tribud ro panicular headings they have b¢¢n allocat¢d to activities on a basis consistent with the use of Grdnts offered subject to conditions which have not been ma at th¢ yeareTrd date are noted &s a commitsnent but not ac¢rued as expendibjre. T*xation Th¢ chttrity is exempt from on its charitable activities. Pagell
tes to the Finan End ontinuoj 5A -12023 ACCOUIYTING POLICIES- ¢ontlnued Fund lecounting Unrestricted funds can used in aecordanee with the charitsble Ob1ve& at the discretion of the trustees. Restriaed fvnds can only b¢ us¢d forp8rti¢ular r¢stri¢ted purpos¢s within the objects of the ¢harity. R¢stri¢tion$ ri5e wh¢n SpLf1 by th¢ ¢Jonor or wh¢n fiuK15 ar¢ rnised for prti¢ular r¢stri¢t¢d purpos¢$. All the de$Lted funds ofthe Trust are unTestridd. General Fund This fund is for the day to day running of the TTUSt and inrlud¢s in¢iMne from Weekly Maintenance Contributions and housing benefit and rental income from Age UK who occupy Trust properties in Leamington Spa. The main fund expenditse is the up-keep of the homes in Wisbech and the provision of the Wardcn. Special Repairs Fund The monies in this fiujd hav¢ b¢en 5Ct lde for funtre major repair / refurbishment of homes. The current suggested rates to set aside for properties outside of iA)ndon are approximately £594 (new units) and £614 (units older than 20 years) per unli for "extraordinary repairs" al £700 (new units) and £1.004 (unit5 oldLY than 20 years) for"ry¢licai repairs" per annum. Tnjstees review this account annually to ensure that the fund 15 on targ to m¢¢1 such commitments and if necessary. transfer extrd funds frnn the get)¢ral fund. The flmd T¢mains above the level requi1 io meet repair obligation5 wuming a twenty-yearTepair cyck. As such no transfer from the general filnd was made during the p&st financial year. Property FuDd The freehold property in the pro fund C(rfnpT]S land and buildings stated at cost in Wisbech of £2.231.070 and L¢amin8ton Spa £450,766. Pensio ¢osÉs *ttd other post-retir¢mettt benefits The charity Oprtes a defined contributioT] W$iOD scheme. Contributions payable to the Chariry's p¢nsion seheme are charged to the Statrment of Finanrial Activitie5 in the to which they relatr. INVESTMENT INCOME 5.4.23 5.4.22 Dividends ¢¢iVable Interesl receivable 41,464 7.125 36,449 48.589 39.816 Page 12
Notes to the RAISING FUNDS Investment costs 5.4.23 5.4.22 Portfolio management TRUSTEES. REMUNERATION A]¥D BENEFrrs There were no trustees. remuneration or other benefits for the y¢ar ¢nd¢d S April 2023 nor for the year ended 5 April 2022. Trustees. expe1$ 5.423 5.4.22 Trustees, expenses 589 STAFF COSTS The averag¢ monthly number of employees during the year as follows: 5.4.23 5.4.22 Warden No employe¢s r¢¢¢ived emoluments in exc$ of £60,(KIO. TANGIBLE FIXED ASSEIS Freehold property COST At 6 April 2022 Additions 2,681.836 At 5 April 2023 2 681.836 NET BOOK VALUE At 3 April 2023 2681836 At 5 April 2022 2,681836 Page 13
tsble Tnt N tes io the Financi&l or the Year Ended 5 A ri1202 FIXED ASSET INVESTMENTS Lis*d investments MARKET VALUE At 6 April 2022 Additions Disposals Revaluations 2,623.687 33,162 184 At S April 2023 2 472 550 ET BOOK VALUE At 5 April 2023 2.472 550 At 5 April 2022 2 623 687 There wer¢ no inv¢stsnent outside the UK. The book cost of invesknents is £1.644.463. CREDITORS: AMOUNTS FALLINC DUE WITHIN ONE YEAR 5.4.23 5.4.22 Other creditors 5,283 MOVEMENT IN FUNDS Net movement Transfers in funds betw¢¢n fimd$ Ai 6.422 At 5.4.23 Unrestrleted funds Generdl Fund Special Repairs Fund Property Fund 2J75,597 429.162 2681836 (79.774) (25.885) 2.295.823 403.277 2 681836 5.486,595 (105.659) 5.380.936 TOTAL FUNDS 5.486.595 105.659 5.380 936 Page 14
Notes to the Financial Staiements- continu for the Year End 5A .12023 MOVEMEKf IN FUNDS- eontinued Net movem¢ni in fithds, in¢lud¢d in the above are &8 follows: Ineoming Resources expended Galng 2nd Movement in loss¢s funds Unr¢¥trict¢d funds General Fund Special Repairs Fund 193.387 7.78$ (120,073) {153.088) (79.774) 25 885) 201.172 (122J32) (184299) (105.659) TOTAL FUNDS 122532 184299) 105.659) io. RELATED PARTY DISCLOSURFS During the year £18 J27 (2022 £18,048) w&s paid to Boldero & Co. Chartered Accountani& for accountancy & secretarial services. 18n Boldero. the principal. is the son of Mrs S.E. Boldero who is a trustee of the Charity. Mrs S.E. Boldero does noi participate in th¢ d¢¢i$ionsconcerningthe ernploym¢nt of Boldero & Co. She resigned from the trf)ard 31° July 2022. GRANTS No grjnts were made during th¢ y¢ar. Page 15
SWSM haritable Tntst Drfaileil Sthtemenl of Financial Activities for the Year Ended 5 A ri12023 5.4.23 5.4.22 INCOME AND ENDOWMEIYTS Inv¢$tthettt in¢ome Dividends receivable Intrrest receivable 41.4fv1 7.1?5 36.449 3.367 48.589 39.816 Other ineome Housing benefit Monthly maintenanct income Leaminwon Spa rents Premium on surrender of lease 23,788 108.675 20.120 21,533 107,693 20,(K)O 152.583 185.226 Tot*1 incoming resource 201.172 225,042 EXPENDITURE IvestMent manag¢menl costs Portfolio management 15,052 15,444 Charitable a¢¢tvities Wages Pensions Council tsx l Rates Insurance Electricity Telephone Property management commi&8ion 29,941 1.841 1,309 4,343 3.662 1.299 25,363 1,430 1,457 3,572 5,353 1,577 1,920 137 82,586 2,500 1,681 1,530 720 29,051 2.500 1.989 lJ60 Repairs and rna1ntetwe Lease 37 We51 Str¢et Residents, alarms Christtnas vouchers and party 79,659 129,106 suPrt costs MaThagement Truste£s' expenses Sundry Subs¢riptions 589 668 393 35 309 1.650 828 Thi5 pag¢ doe5 not forni pan of th¢ stswtory fywirial $tatrm¢nts Page 16
W Smedl C Trust Detailed Statement of Fitwicial A¢tiviii for the Year Ended 5 A ri12023 5.4.23 5.4.22 Govern*llct eosts Audilors, retnuneration Accountancy and Secretarial Legal ftts 3.240 18.327 2,760 18.048 1,080 Tolll reure exPeDdl 122.532 167,266 Net income 78.640 57,776 This page does not fonn part of the #atutory financial ststements Page 17