| Page | |||
|---|---|---|---|
| Trustees' | report | 1-3 | |
| Independent auditor's |
report | 4-6 | |
| Statement | of financial | activities | |
| Balance sheet | |||
| Statement | of cash flows | ||
| Notes to | the accounts | 10-20 |
| Unrestricted | Designated | Endowment | Total | Total | |||
|---|---|---|---|---|---|---|---|
| Notes | Funds F |
Funds f |
Funds f |
2022 6 |
2021 6 |
||
| Income and endowments | from: | ||||||
| Income from investments | 2 | 2,204 | 2,204 | 332 | |||
| Charitable activities |
3 | 563,740 | 563,740 | 521,027 | |||
| Total income | 565,944 | 565,944 | 521,359 | ||||
| Expenditure on: |
|||||||
| Charitable activities |
4 | 276,597 | 42,656 | 319,253 | 363,917 | ||
| Donation | 200,000 | ||||||
| Total expenditure | 276,597 | 42,656 | 319,253 | 563,917 | |||
| Net income I expenditure | 289,347 | (42,656) | 246,691 | (42,558) | |||
| Unrealised Gains (Losses) investments |
on | (15,265) | (15,265) | 25,125 | |||
| Revaluation oftangible fixed assets |
120,150 | 1,211,250 | 1,331,400 | 1,277,889 | |||
| Transfers between funds |
(42,656) | 42,656 | |||||
| Net movement In funds |
366,841 | (15,265) | 1,211,250 | 1,562,826 | 1,260,456 | ||
| Fund balances at 1 January | 2022 | 1,604,828 | 169,640 | 11,742,750 | 13,517,218 | 12,256,762 | |
| Fund balances at 31 December 2022 | 1,971,669 | 154,375 | 12,954,000 | 15,080,044 | 13,517,218 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Notes | ||||||
| Fixed Assets | ||||||
| Tangible assets | 13 | 14,269,950 | 12,938,550 | |||
| investments | 154,375 | 169,640 | ||||
| 14,424,325 | 13,108,190 | |||||
| Current Assets | ||||||
| Debtors | 14,973 | 13,746 | ||||
| Cash at Bank and in Hand | 12 | 688,918 | 470,059 | |||
| 703,891 | 483,805 | |||||
| Current Liabilities |
||||||
| Creditors | 10 | (48,172) | (74,777) | |||
| Net Current | Assets | 655,719 | 409,028 | |||
| Total Net Assets | 15,080,044 | 13,517,218 | ||||
| The Funds | ofthe Charity | |||||
| Endowment | Funds | 15 | 660,570 | 660,570 | ||
| Endowment | Funds Revaluation | Reserve | 12,293,430 | 11,082,180 | ||
| 12,954,000 | 11,742,750 | |||||
| Designated | Funds | 15 | 74,443 | 74,443 | ||
| Designated | Funds Revaluation | Reserve | 79,932 | 95,197 | ||
| 154,375 | 169,640 | |||||
| Unrestricted | Funds | 15 | 1,316,160 | 1,069,469 | ||
| Unrestricted | Funds Revaluation | Reserve | 655,509 | 535,359 | ||
| 1,971,669 | 1,604,828 | |||||
| Total Charity Funds | 15,080,044 | 13,517,218 |
| 2022 | 2021 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Notes | f | f | ||||||||
| Cash flows from operating | activities | |||||||||
| Cash generated from operations |
16 | 216,655 | 1,991 | |||||||
| Investing | activities | |||||||||
| Proceeds | from sale of investment | |||||||||
| Purchase | of investments | |||||||||
| Investment | interest received | 2,204 | 332 | |||||||
| Net cash | (used in)/ generated | from investing | activities | 2,204 | 332 | |||||
| Net Increase/(decrease) in |
cash | and cash equivalents | 218,859 | 2,323 | ||||||
| Cash and | cash equivalent brought |
forward | 470,059 | 467,736 | ||||||
| Cash and | cash equivalent | carried forward | 688,918 | 470,059 |
| 2 Investment income |
Tota I | Total | ||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| Interest receivable | 2,204 | 332 | ||||
| 3Income from charitable | activities | Total | Total | |||
| 2022 | 2021 | |||||
| Rents | 563,740 | 521,027 | ||||
| 4 Expenditure on charitable |
activities | |||||
| 2022 | 2021 | |||||
| Costs relating to charitable |
activities comprise: | |||||
| Legal and professional | fees | 3,586 | 1,899 | |||
| Structural survey reports (Unrestricted |
Fund) | 3,785 | 1,423 | |||
| Structural survey reports (Designated |
Fund) | 41,706 | ||||
| Ground rent |
196 | 142 | ||||
| Property valuation fee |
400 | 350 | ||||
| Insurance | 35,359 | 32,426 | ||||
| Unoccupied house expenses |
2,194 | 1,986 | ||||
| Agent commission | 70,659 | 65,183 | ||||
| Repair and maintenance | (Unrestricted | Fund) | 145,852 | 193,037 | ||
| Repair and maintenance | (Designated | Fund) | 950 | 54,157 | ||
| Postage and stationery | 264 | 474 | ||||
| Secretary's fee | 10,278 | 9,336 | ||||
| Auditor's remuneration |
3,732 | 3,504 | ||||
| Sundry expenses | 292 | |||||
| 319,253 | 363,917 |
| 7 Donatio | ns | payable | |||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Donations | to | institutions: | |||
| The Chadwick | Educational | Foundation | 200,000 |
| 9Debtors | |||
|---|---|---|---|
| 2022 | 2021 | ||
| Prepayments and accrued income |
14,973 | 13,746 | |
| 10Creditors | |||
| 2022 | 2021 | ||
| Trade creditors | 257 | 12,704 | |
| Accruals and deferred |
income | 47,915 | 62,073 |
| 48,172 | 74,777 | ||
| 11Fixed asset investments | Designated | ||
| Income | |||
| Investments | |||
| COlf Accumulation Shares |
|||
| Market value at 1 January 2022 | 169,640 | ||
| Disposals at opening book value |
|||
| Acquisitions at cost |
|||
| Change in value in the |
year | (15,265) | |
| Market value at 31 December 2022 | 154,375 | ||
| Historical cost: | |||
| At 31 December 2022 | 74,443 | ||
| At 31 December 2021 | 74,443 |
| 12Cash | at bank and in hand | ||||
|---|---|---|---|---|---|
| Unrestricted | Designated | Endowment | |||
| funds | funds | funds | Total | ||
| Royal Bank of Scotland Pic | 484,965 | 484,965 | |||
| Furnsss | Building Society | 203,945 | 203,945 | ||
| Cash | |||||
| 688,918 | 688,918 |
| Shorthold | Protected | Shorthold | Protected | ||||
|---|---|---|---|---|---|---|---|
| Tenancies | Tenancies | Tenancies | Tenancies | ||||
| Endowment | Endowment | Unrestricted | Unrestricted | Total | |||
| Fund | Fund | Fund | Fund | ||||
| Cost & valuation | |||||||
| At 1 January | 2022 | 4,675,950 | 150,600 | 4,826,550 | |||
| Additions | |||||||
| Revaluation | 464,400 | 15,000 | 479,400 | ||||
| Transfers | |||||||
| At 31 December | 2022 | 5,140,350 | 165,600 | 5,305,950 | |||
| At 31 December | 2021 | 4,675,950 | 150,600 | 4,826,550 | |||
| Leasehold | land | & buildings | |||||
| Shorthold | Protected | Shorthold | Protected | ||||
| Tenancies | Tenancies | Tenancies | Tenancies | ||||
| Endowment | Endowment | Unrestricted | Unrestricted | Total | |||
| Fund | Fund | Fund | Fund | ||||
| Cost &valuation | |||||||
| At 1 January | 2022 | 5,314,500 | 1,601,700 | 1,132,200 | 63,600 | 8,112,000 | |
| Additions | |||||||
| Revaluation | 573,150 | 158,700 | 113,850 | 6,300 | 852,000 | ||
| Transfers | 87,000 | (87,000) | |||||
| At 31 December | 2022 | 5,974,650 | 1,673,400 | 1,246,050 | 69,900 | 8,964,000 | |
| At 31 December | 2021 | 5,314,500 | 1,601,700 | 1,132,200 | 63,600 | 8,112,000 |
| Unrestricted | Designated | Endowment | Total | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | ||||
| Fund balances at 31 December 2022 | ||||||
| are represented by: |
||||||
| Tangible fixed assets |
1,315,950 | 12,954,000 | 14269950 | |||
| Investments | 154,375 | 154,375 | ||||
| Current assets | 703,891 | 703,891 | ||||
| Creditors: amounts | falling | due within | (48,172) | (48,172) | ||
| one year | ||||||
| 1,971,669 | 154,375 | 12,954,000 | 15,080,044 | |||
| Unrealised gains included |
above: | |||||
| On tangible fixed assets |
655,509 | 12,293,430 | 12,948,939 | |||
| On investments | 79,932 | 79,932 | ||||
| 655,509 | 79,932 | 12,293,430 | 13,028,871 | |||
| Reconciliation of movements in |
||||||
| unrealised gains |
||||||
| Unrealised gains at |
1 January 2022 | 535,359 | 95,197 | 11,082,180 | 11,712,736 | |
| Net gains on revaluations | in year | 120,150 | (15,265) | 1,211,250 | 1,316,135 | |
| Unrealised gains at |
31 December 2022 | 655,509 | 79,932 | 12,293,430 | 13,028,871 |
| 15Movement in funds |
|||||
|---|---|---|---|---|---|
| Balance at | Movement | in funds | Balance at 31 | ||
| Funds 1 January 2022 |
Income | Expenditure | Revaluation | Transfers | December 2022 |
| Endowment Fund 11,742,750 |
1,211,250 | 12,954,000 | |||
| Designated Fund 169,640 |
(42,656) | (15,265) | 42,656 | 154,375 | |
| Unrestricted Fund 1,604,828 |
565,944 | (276,597) | 120,150 | (42,656) | 1,971,669 |
| Total Funds 13,517,218 |
565,944 | (319,253) | 1,316,135 | 15,080,044 | |
| 16Cash generated from operations |
|||||
| 2022 | 2021 | ||||
| Net movement in funds |
1,562,826 | 1,260,456 | |||
| Deduct investment income |
(2,204) | (332) | |||
| Deduct gains/add back losses on investments |
15,265 | (25,125) | |||
| Deduct revaluation of fixed assets |
(1,331,400) | (1,277,889) | |||
| Movement in working capital: |
|||||
| (Increase)/decrease in debtors |
(1,227) | (488) | |||
| (Decrease)fincrease in creditors |
(26,605) | 45,369 | |||
| 216,655 | 1,991 |
| 17Comparatives for 2021 |
17Comparatives for 2021 |
|||||
|---|---|---|---|---|---|---|
| Statement of Financial | Activities | Unrestncted | Designated | Endowment | Total | |
| Funds | Funds f |
Funds f |
2021f | |||
| Income and endowments | from: | |||||
| Income from investments | 332 | 332 | ||||
| Charitable activities |
521,027 | 521,027 | ||||
| Total income | 521,359 | 521,359 | ||||
| Expenditure on: |
||||||
| Charitable activities |
309,760 | 54,157 | 363,917 | |||
| Donation | 200,000 | 200,000 | ||||
| Total expenditure | 509,760 | 54,157 | 563,917 | |||
| Net income I expenditure | 11,599 | (54,157) | (42,558) | |||
| Unrealised Gains (Losses) on investments |
25,125 | 25,125 | ||||
| Revaluation of tangible |
fixed | assets | 142,398 | 1,135,491 | 1,277,889 | |
| Transfers between funds |
(54,157) | 54,157 | ||||
| Net movement in funds |
99,840 | 25,125 | 1,135,491 | 1,260,456 | ||
| Fund balances at 1 January | 2021 | 1,504,988 | 144,515 | 10,607,259 | 12,256,762 | |
| Fund balances at 31 December 2021 | 1,604,828 | 169,640 | 11,742,750 | 13,517,218 | ||
| Cash at bank and in hand | Unrestricted | Designated | Endowment | |||
| funds | funds | funds | Total | |||
| Royal Bank of Scotland | Pic | 267,379 | 267,379 | |||
| Fumess Building Society |
202,672 | 202,672 | ||||
| Cash | ||||||
| 470,059 | 470,059 |
| Freehold la |
nd & buildings | |||||
|---|---|---|---|---|---|---|
| Shorthold | Protected | Shorthold | Protected | |||
| Tenancies | Tenancies | Tenancies | Tenancies | |||
| Endowment | Endowment | Unrestricted | Unrestricted | Tota I | ||
| Fund | Fund | Fund | Fund | |||
| Cost &valuation | ||||||
| At 1 January | 2021 | 4,229,325 | 144,120 | 4,373,445 | ||
| Additions | ||||||
| Revaluation | 446,625 | 6,480 | 453,105 | |||
| Transfers | ||||||
| At 31 December 2021 | 4,675,950 | 150,600 | 4,826,550 | |||
| At 31 December 2020 | 4,229,325 | 144,120 | 4,373,445 | |||
| Leasehold | land & buildings | Shorthold | Protected | Shorthold | Protected | |
| Tenancies | Tenancies | Tenancies | Tenancies | |||
| Endowment | Endowment | Unrestricted | Unrestricted | Total | ||
| Fund | Fund | Fund | Fund | |||
| Cost &valuation | ||||||
| At 1 January | 2021 | 4,691,754 | 1,542,060 | 930,852 | 122,550 | 7,287,216 |
| Additions | ||||||
| Revaluation | 532,746 | 149,640 | 136,458 | 5,940 | 824,784 | |
| Transfers | 90,000 | (90,000) | 64,890 | (64,890) | ||
| At 31 December 2021 | 5,314,500 | 1,601,700 | 1,132,200 | 63,600 | 8,112,000 | |
| At 31 December 2020 | 4,691,754 | 1,542,060 | 930,852 | 122,550 | 7,287,216 |
| Unrestricted | Designated | Endowment | Total | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | ||||
| Fund balances at 31 December 2021 | ||||||
| are represented by: |
||||||
| Tangible fixed assets |
1,195,800 | 11,742,750 | 12,938,550 | |||
| Investments | 169,640 | 169,640 | ||||
| Current assets | 483,805 | 483,805 | ||||
| Creditors: amounts | falling | due within | (74,777) | (74,777) | ||
| one year | ||||||
| 1,604,828 | 169,640 | 11,742,750 | 13,517,218 | |||
| Unrealised gains included |
above: | |||||
| On tangible fixed assets |
535,359 | 11,082,180 | 11,617,539 | |||
| On investments | 95,197 | 95,197 | ||||
| 535,359 | 95,197 | 11,082,180 | 11,712,736 | |||
| Reconciliation of movsmsnts in |
||||||
| unrealised gains |
||||||
| Unrealised gains at |
1 January 2021 | 392,961 | 70,072 | 9,946,689 | 10,409,722 | |
| Nst gains on revaluations | in year | 142,398 | 25,125 | 1,135,491 | 1,303,014 | |
| Unrealised gains at |
31 December 2021 | 535,359 | 95,197 | 11,082,180 | 11,712,736 |
| ement in fu |
nds | ||||||
|---|---|---|---|---|---|---|---|
| Balance at | Ililovement | in funds | Balance at 31 | ||||
| Funds | 1 January 2021 |
Income | Expenditure | Revaluation | Transfers | December 2021 |
|
| Endowment | Fund | 10,607,259 | 1,135,491 | 11,742,750 | |||
| Designated | Fund | 144,515 | (54,157) | 25,125 | 54,157 | 169,640 | |
| Unrestricted | Fund | 1,504,988 | 521,359 | (509,760) | 142,398 | (54,157) | 1,604,828 |
| Total Funds | 12,256,762 | 521,359 | (563,917) | 1,303,014 | 13,517,218 |
| 17Comparatives for 2021 continued |
17Comparatives for 2021 continued |
||||
|---|---|---|---|---|---|
| Statement ofCash Flows |
|||||
| Notes | 2021 | ||||
| f | |||||
| Cash flows from operating activities |
|||||
| Cash generated from operations |
1,991 | ||||
| Investing activities |
|||||
| Proceeds from sale of investment | |||||
| Purchase of investments | |||||
| Investment interest received |
332 | ||||
| Net cash (used in)/ generated from |
investing | activities | 332 | ||
| Net increase/(decrease) in cash and cash equivalents |
2,323 | ||||
| Cash and cash equivalent brought |
forward | 467,736 | |||
| Cash and cash equivalent carried forward |
470,059 | ||||
| Cash generated from operations |
|||||
| 2021 | |||||
| Net movement in funds |
1,260,456 | ||||
| Deduct investment income |
(332) | ||||
| Deduct gains/add back losses on investments |
(25,125) | ||||
| Deduct revaluation of fixed assets |
(1,277,889) | ||||
| Movement in working capital; |
|||||
| (Increase)/decrease in debtors |
(488) | ||||
| (Decrease)fincrease in creditors |
45,369 | ||||
| 1,991 |