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2023-03-31-accounts
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|
Page |
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| ReportoftheTrustees |
1 |
to |
4 |
| ReportoftheIndependentAuditor |
5 |
to |
7 |
| StatementofFinancialActivities |
|
8 |
|
| StatementofFinancialPosition |
|
9 |
|
| StatementofCash Flows |
|
10 |
|
| Notes tothe StatementofCash Flows |
|
11 |
|
| Notes totheFinancial Statements |
12 |
to |
19 |
| Detailed StatementofFinancialActivities |
|
20 |
|
|
|
31.3.23 |
31.3.22 |
|
|
Unrestricted |
Total |
|
|
fund |
funds |
|
Notes |
£ |
£ |
| INCOME AND ENDOWMENTS FROM |
|
|
|
| Investment income |
2 |
583,391 |
582,995 |
| EXPENDITURE ON |
|
|
|
| Raising funds |
3 |
55,867 |
53,326 |
| Charitable activities |
4 |
|
|
| Charitable Donations |
|
489,671 |
563,881 |
|
|
-- |
|
| Total |
|
545,538 |
617,207 |
| Net gains/(losses) on investments |
|
(855,697) |
968,006 |
| NET INCOME/(EXPENDITURE) |
|
(817,844) |
933,794 |
| RECONCILIATION OF FUNDS |
|
|
|
| Total funds brought forward |
|
17,297,863 |
16,364,069 |
| TOTAL FUNDS CARRIED FORWARD |
|
16,480,019 |
17,297,863 |
Statement ofFinancial Position
31 March2023 |
|
|
|
|
|
31.3.23 |
31.3.22 |
|
|
Unrestricted |
Total |
|
|
fund |
funds |
|
Notes |
£ |
£ |
| FIXEDASSETS |
|
|
|
Investments
Investments
Investmentproperty |
9
10 |
14,840,645
415,875
- |
15,665,306
445,490 |
|
|
15,256,520 |
16,110,796 |
CURRENTASSETS
Debtors
Cashat bankandinhand |
11 |
11,951
1,217,184 |
76,412
l,130,lS8 |
|
|
1,229,135 |
1,206,570 |
CREDITORS
Amounts fallingduewithinoneyear |
12 |
(S,636) |
(19,503) |
|
|
- |
|
| NET CURRENT ASSETS |
|
1,223,499 |
1,187,067 |
TOTALASSETSLESSCURRENT
LIABILITIES |
|
16,480,019 |
17,297,863 |
| NETASSETS |
|
16,480,019 |
17,297,863 |
|
|
- |
|
FUNDS
Unrestrictedfunds |
14 |
16,480,019 |
17,297,863 |
| TOTALFUNDS |
|
16,480,019 |
17,297,863 |
|
|
31.3.23 |
31.3.22 |
|
Notes |
£ |
£ |
| Cash flows from operating activities |
|
|
|
| Cashgeneratedfromoperations |
|
(378,843) |
(674,462) |
| Interestpaid |
|
(87) |
(96) |
| Netcash usedinoperatingactivities |
|
(378,930) |
(674,558) |
| Cash flows from investing activities |
|
|
|
| Purchaseoffixedassetinvestments |
|
(391,330) |
(2,031,810) |
| Sale offixedassetinvestments |
|
374,851 |
1,320,686 |
| Interestreceived |
|
45,608 |
67,491 |
| Dividendsreceived |
|
512,033 |
489,504 |
|
|
-- |
|
| Netcashprovided by/(usedin) investingactivities |
|
541,162 |
(154,129) |
| Cash flows from financing activities |
|
|
|
| Newloans inyear |
|
(112,447) |
(20,000) |
| Loanrepayments inyear |
|
36,913 |
121,875 |
| Netcash(usedin)/providedby financingactivities |
|
(75,534) |
101,875 |
| Change in cash and cash equivalents in |
|
|
|
| the reporting period |
|
86,698 |
(726,812) |
| Cash and cash equivalents at the |
|
|
|
| beginning of the reporting period |
2 |
1,130,158 |
1,856,970 |
| Cash and cash equivalents at the end of |
|
|
|
| the reporting period |
2 |
1,216,856 |
1,130,158 |
| OPERATING ACTIVITIES |
|
|
|
31.3.23 |
31.3.22 |
|
£ |
£ |
| Net (expenditure)/income for the reporting period (as per the |
|
|
| Statement of Financial Activities) |
(817,844) |
933,794 |
| Adjustments for: |
|
|
| Losses/(gain)oninvestments |
946,289 |
(967,448) |
| Interestreceived |
(45,608) |
(67,491) |
| Interestpaid |
87 |
96 |
| Dividendsreceived |
(512,033) |
(489,504) |
| Decrease/(increase) indebtors |
64,461 |
(57,662) |
| Decreaseincreditors |
(14,195) |
(26,247) |
| Net cash used in operations |
(378,843) |
(674,462) |
| ANALYSIS OF CASH AND CASH EQUIVALENTS |
|
|
|
31.3.23 |
31.3.22 |
|
£ |
£ |
| Cashinhand |
5,027 |
|
| Noticedeposits (lessthan 3months) |
1,212,157 |
1,130,158 |
| Overdrafts includedinbankloans andoverdrafts fallingduewithinoneyear |
(328) |
|
| Totalcashandcashequivalents |
1,216,856 |
1,130,158 |
|
At 1.4.22 |
Cashflow |
At31.3.23 |
|
£ |
£ |
£ |
| Net cash |
|
|
|
| Cashatbankandin hand |
1,130,158 |
87,026 |
1,217,184 |
| Bankoverdraft |
|
(328) |
(328) |
|
1,130,158 |
86,698 |
1,216,856 |
| Total |
1,130,158 |
86,698 |
1,216,856 |
| 2. |
INVESTMENT INCOME |
|
|
|
|
31.3.23 |
31.3.22 |
|
|
£ |
£ |
|
Rents receivable |
25,750 |
26,000 |
|
Investment income receivable |
512,033 |
489,504 |
|
Deposit account interest |
8,414 |
17 |
|
Other interestreceived |
37,194 |
67,474 |
|
|
-- |
-- |
|
|
583,391 |
582,995 |
|
|
|
-- |
| 3. |
RAISING FUNDS |
|
|
|
Raising donations and legacies |
|
|
|
|
31.3.23 |
31.3.22 |
|
|
£ |
£ |
|
Support costs |
9,514 |
8,287 |
|
Investment management costs |
|
|
|
|
31.3.23 |
31.3.22 |
|
|
£ |
£ |
|
Portfolio management |
46,266 |
44,943 |
|
Interestpayable and similarcharges |
87 |
96 |
|
|
--- |
-- |
|
|
46,353 |
45,039 |
|
|
-- |
--- |
|
Aggregate amounts |
55,867 |
53,326 |
| 4. |
CHARITABLE ACTIVITIES COSTS |
|
|
|
|
|
Grant |
|
|
|
funding of |
|
|
|
activities |
|
|
|
(see note |
|
|
|
5) |
|
|
|
£ |
|
Charitable Donations |
|
489,671 |
|
|
|
-- |
| 5. |
GRANTS PAYABLE |
|
|
|
|
31.3.23 |
31.3.22 |
|
|
£ |
£ |
|
Charitable Donations |
489,671 |
563,881 |
|
31.3.23 |
31.3.22 |
|
£ |
£ |
| Art, Music andEntertainment |
71,729 |
40,500 |
| HealthandMedicalResearch |
81,000 |
91,210 |
| Religion |
16,500 |
30,000 |
| NatureConservation |
55,000 |
49,000 |
| Civil Society |
195,889 |
224,171 |
| Education |
12,553 |
73,000 |
| Care |
42,000 |
41,000 |
| Hospice |
15,000 |
15,000 |
|
489,671 |
563,881 |
|
|
-- |
|
|
|
Governance |
|
|
|
Management |
costs |
Totals |
|
|
£ |
£ |
£ |
| Raisingdonations |
andlegacies |
398 |
9,116 |
9,514 |
|
Unrestricted |
|
fund |
|
£ |
| INCOME AND ENDOWMENTS FROM |
|
| Investmentincome |
582,995 |
| EXPENDITURE ON |
|
| Raisingfunds |
53,326 |
| Charitable activities |
|
| CharitableDonations |
563,881 |
| Total |
617,207 |
| Netgains oninvestments |
968,006 |
|
|
|
|
Unrestricted |
|
|
|
|
fund |
|
|
|
|
£ |
|
NET INCOME |
|
|
933,794 |
|
RECONCILIATION OF FUNDS |
|
|
|
|
Total fundsbroughtforward |
|
|
16,364,069 |
|
TOTAL FUNDS CARRIED FORWARD |
|
|
17,297,863 |
| 9. |
FIXED ASSET INVESTMENTS |
|
|
|
|
|
|
31.3.23 |
31.3.22 |
|
|
|
£ |
£ |
|
Shares |
|
14,210,736 |
15,110,931 |
|
Loans |
|
629,909 |
554,375 |
|
|
|
14,840,645 |
15,665,306 |
|
Additional informationas follows: |
|
|
|
|
|
Listed |
Unlisted |
|
|
|
investments |
investments |
Totals |
|
|
£ |
£ |
£ |
|
MARKET VALUE |
|
|
|
|
At 1 April 2022 |
14,080,503 |
747,075 |
14,827,578 |
|
Additions |
391,330 |
|
391,330 |
|
Disposals |
(443,561) |
|
(443,561) |
|
Impairments |
|
(20,000) |
(20,000) |
|
At31 March2023 |
14,028,272 |
727,075 |
14,755,347 |
|
PROVISIONS |
|
|
|
|
At 1 April 2022 |
(400,522) |
117,169 |
(283,353) |
|
Revaluationadjustments |
641,026 |
186,938 |
827,964 |
|
At31 March2023 |
240,504 |
304,107 |
544,611 |
|
NET BOOK VALUE |
|
|
|
|
At31 March2023 |
13,787,768 |
422,968 |
14,210,736 |
|
At31 March2022 |
14,481,025 |
629,906 |
15,110,931 |
|
|
|
|
Other |
|
|
|
|
loans |
|
|
|
|
£ |
|
At 1 April 2022 |
|
|
554,375 |
|
Newinyear |
|
|
112,447 |
|
Repayments in year |
|
|
(36,913) |
|
At31 March2023 |
|
|
629,909 |
| INVESTMENT PROPERTY |
|
|
£ |
| FAIR VALUE |
|
| At 1 April 2022 |
445,490 |
| Impairments |
(29,615) |
| At31 March2023 |
415,875 |
|
-- |
| NET BOOK VALUE |
|
| At31 March2023 |
415,875 |
| At31 March2022 |
445,490 |
| 11. |
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
|
|
|
|
|
31.3.23 |
31.3.22 |
|
|
|
|
|
£ |
£ |
|
Otherdebtors |
|
|
|
11,951 |
76,412 |
| 12. |
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE ** |
|
YEAR |
|
|
|
|
|
|
|
|
31.3.23 |
31.3.22 |
|
|
|
|
|
£ |
£ |
|
Bankloans andoverdrafts (seenote 13) |
|
|
|
328 |
|
|
Othercreditors |
|
|
|
5,308 |
19,503 |
|
|
|
|
|
-- |
-- |
|
|
|
|
|
5,636 |
19,503 |
|
|
|
|
|
--- |
- |
| 13. |
LOANS |
|
|
|
|
|
|
Ananalysisofthematurityofloans is givenbelow: |
|
|
|
|
|
|
|
|
|
|
31.3.23 |
31.3.22 |
|
|
|
|
|
£ |
£ |
|
Amounts fallingduewithinoneyearondemand: |
|
|
|
|
|
|
Bankoverdrafts |
|
|
|
328 |
|
|
|
|
|
|
-- |
|
| 14. |
MOVEMENT IN FUNDS |
|
|
|
|
|
|
|
|
|
|
Net |
|
|
|
|
|
|
movement |
At |
|
|
|
At |
1.4.22 |
infunds |
31.3.23 |
|
|
|
|
£ |
£ |
£ |
|
Unrestricted funds |
|
|
|
|
|
|
General fund |
|
17,297,863 |
|
(817,844) |
16,480,019 |
|
TOTAL FUNDS |
|
17,297,863 |
|
(817,844) |
16,480,019 |
|
Netmovementinfunds, includedinthe above areas |
follows: |
|
|
|
|
|
|
Incoming |
Resources |
|
Gains and |
Movement |
|
|
resources |
expended |
|
losses |
infunds |
|
|
£ |
|
£ |
£ |
£ |
|
Unrestricted funds |
|
|
|
|
|
|
General fund |
583,391 |
(545,538) |
|
(855,697) |
(817,844) |
|
TOTAL FUNDS |
583,391 |
(545,538) |
|
(855,697) |
(817,844) |
|
|
Net |
|
|
|
movement |
At |
|
At 1.4.21 |
infunds |
31.3.22 |
|
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
| General fund |
16,364,069 |
933,794 |
17,297,863 |
| TOTAL FUNDS |
16,364,069 |
933,794 |
17,297,863 |
|
Incoming |
Resources |
Gains and |
Movement |
|
resources |
expended |
losses |
infunds |
|
£ |
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
| General fund |
582,995 |
(617,207) |
968,006 |
933,794 |
| TOTAL FUNDS |
582,995 |
(617,207) |
968,006 |
933,794 |
|
|
Net |
|
|
|
movement |
At |
|
At 1.4.21 |
infunds |
31.3.23 |
|
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
| General fund |
16,364,069 |
115,950 |
16,480,019 |
| TOTAL FUNDS |
16,364,069 |
115,950 |
16,480,019 |
|
Incoming |
Resources |
Gains and |
Movement |
|
resources |
expended |
losses |
infunds |
|
£ |
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
| General fund |
1,166,386 |
(1,162,745) |
112,309 |
115,950 |
| TOTAL FUNDS |
1,166,386 |
(1,162,745) |
112,309 |
115,950 |
Detailed Statement of Financial Activities
for the Year Ended 31 March 2023 |
|
|
|
31.3.23 |
31.3.22 |
|
£ |
£ |
| INCOME AND ENDOWMENTS |
|
|
| Investment income |
|
|
| Rents receivable |
25,750 |
26,000 |
| Investment income receivable |
512,033 |
489,504 |
| Deposit account interest |
8,414 |
17 |
| Other interestreceived |
37,194 |
67,474 |
|
-- |
-- |
|
583,391 |
582,995 |
|
-- |
-- |
| Total incoming resources |
583,391 |
582,995 |
| EXPENDITURE |
|
|
| Investment management costs |
|
|
| Portfolio management |
46,266 |
44,943 |
| Bank interest |
87 |
96 |
|
-- |
|
|
46,353 |
45,039 |
| Charitable activities |
|
|
| Grants to institutions |
489,671 |
563,881 |
| Support costs |
|
|
| Management |
|
|
| Travel costs |
398 |
169 |
| Governance costs |
|
|
| Auditors' remuneration |
5,372 |
5,044 |
| Sundries |
144 |
194 |
| Accountancy and professional |
3,600 |
2,880 |
|
9,116 |
8,118 |
|
|
--- |
| Totalresources expended |
545,538 |
617,207 |
| Net income/(expenditure) before gains and |
|
|
| losses |
37,853 |
(34,212) |
| Realised recognised gains and losses |
|
|
| Realised gains/(losses) on fixed asset investments |
(68,710) |
97,483 |
| Net (expenditure)/income |
(30,857) |
63,271 |