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2024-03-31-accounts

Page
Report ofthe Trustees to 5
Report oftheIndependent Auditor 6 to 8
Statement ofFinancial Activities 9
Statement ofFinancial Position 10
Statement ofCash Flows 11
Notes to the Statement ofCash Flows 12
Notes to the Financial Statements 13 to 20
Detailed Statement ofFinancialActivities 21

31.3.24 31.3.23
Unrestricted Total
fund funds
Notes £ £
INCOME AND ENDOWMENTS FROM
Investmentincome 2 528,580 583,391
EXPENDITURE ON
Raisingfunds 3 61,935 55,867
Charitable activities 4
CharitableDonations 523,251 489,671
Total 585,186 545,538
Netgains/(losses) on investments 703,154 (855,697)
NET INCOME/(EXPENDITURE) 646,548 (817,844)
RECONCILIATION OF FUNDS
Total funds broughtforward 16,480,019 17,297,863
TOTAL FUNDS CARRIED FORWARD 17,126,567 16,480,019
31.3.24 31.3.23
Unrestricted Total
fund funds
Notes £ £
FIXED ASSETS
Investments
Investments 9 16,116,561 14,840,645
Investmentproperty 10 391,822 415,875
16,508,383 15,256,520
CURRENT ASSETS
Debtors 11 5,150 11,951
Cashatbankand inhand 627,041 1,217,184
632,191 1,229,135
CREDITORS
Amounts fallingdue withinone year 12 (14,007) (5,636)
NET CURRENT ASSETS 618,184 1,223,499
TOTAL ASSETS LESS CURRENT
LIABILITIES 17,126,567 16,480,019
NET ASSETS 17,126,567 16,480,019
FUNDS 14
Unrestricted funds 17,126,567 16,480,019
TOTAL FUNDS 17,126,567 16,480,019

31.3.24 31.3.23
Notes £ £
Cash flows from operating activities
Cashgenerated fromoperations (542,501) (378,843)
Interestpaid (60) (87)
Netcash used in operating activities (542,561) (378,930)
Cash flows from investing activities
Purchase offixed assetinvestments (1,439,744) (391,330)
Sale offixedasset investments 281,126 374,851
Interestreceived 16,018 45,608
Dividends received 485,437 512,033
Netcash(used in)/providedby investing activities (657,163) 541,162
Cash flows from financing activities
New loans inyear (112,447)
Loanrepayments in year 609,909 36,913
Netcash provided by/(used in) financingactivities 609,909 (75,534)
Change in cash and cash equivalents in
the reporting period (589,815) 86,698
Cash and cash equivalents at the
beginning of the reporting period 2 1,216,856 1,130,158
Cash and cash equivalents at the end of
the reporting period 2 627,041 1,216,856
OPERATING ACTIVITIES
31.3.24 31.3.23
£ £
Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities) 646,548 (817,844)
Adjustments for:
(Gain)/losses on investments (703,154) 946,289
Interestreceived (16,018) (45,608)
Interestpaid 60 87
Dividendsreceived (485,437) (512,033)
Decrease in debtors 6,801 64,461
Increase/(decrease) increditors 8,699 (14,195)
Net cash used in operations 542.501) (378.843)
ANALYSIS OF CASH AND CASH EQUIVALENTS
31.3.24 31.3.23
£ £
Cash inhand 5,027 5,027
Notice deposits (lessthan 3 months) 622,014 1,212,157
Overdrafts included inbankloans andoverdrafts falling duewithin oneyear (328)
Totalcash and cashequivalents 627,041 1,216,856
At 1.4.23 Cash flow At31.3.24
£ £ £
Net cash
Cashatbankand inhand 1,217,184 (590,143) 627,041
Bankoverdraft (328 328
1,216,856 589.819 627,041
Total 1,216,856 (589.819 627,041

Notes to the Financial Statements - continued Notes to the Financial Statements - continued
**for the ** Year Ended 31 March 2024
2. INVESTMENT INCOME
31.3.24 31.3.23
£ £
Rentsreceivable 27,125 25,750
Investment incomereceivable 485,437 512,033
Depositaccount interest 14,616 8,414
Other interestreceived 1,402 37,194
528,580 583,391
3. RAISING FUNDS
Raising donations and legacies
31.3.24 31.3.23
£ £
Supportcosts 12,912 9,514
Investment management costs
31.3.24 31.3.23
£ £
Portfoliomanagement 48,963 46,266
Interestpayable and similarcharges 60 87
49,023 46,353
Aggregate amounts 61,935 55,867
4. CHARITABLE ACTIVITIES COSTS
Grant
fundingof
activities
(see note
5)
£
CharitableDonations 523,251
5. GRANTS PAYABLE
31.3.24 31.3.23
£ £
CharitableDonations 523,251 489,671

31.3.24 31.3.23
£ £
Art, Music andEntertainment 59,465 71,729
HealthandMedicalResearch 90,522 81,000
Religion 12,000 16,500
Nature Conservation 53,000 55,000
Civil Society 218,504 195,889
Education 30,760 12,553
Care 41,000 42,000
Hospice 18,000 15,000
523,251 489,671
Governance
Management costs Totals
£ £ £
Raising donations and legacies 352 12,560 12,912

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Investment income 583,391
EXPENDITURE ON
Raisingfunds 55,867
Charitable activities
CharitableDonations 489,671
Total 545,538
Netgains/(losses) on investments (855,697)
Unrestricted
fund
£
NET INCOME/(EXPENDITURE) (817,844)
RECONCILIATION OF FUNDS
Total funds broughtforward 17,297,863
TOTAL FUNDS CARRIED FORWARD 16,480,019
9. FIXED ASSET INVESTMENTS
31.3.24 31.3.23
£ £
Shares 16,096,561 14,210,736
Loans 20,000 629,909
16,116,561 14,840,645
Additional informationas follows:
Listed Unlisted
investments investments Totals
£ £ £
MARKET VALUE
At 1 April 2023 14,028,272 727,075 14,755,347
Additions 848,580 591,164 1,439,744
Disposals (288,707) (288,707)
At31 March2024 14,588,145 1,318,239 15,906,384
PROVISIONS
At 1 April 2023 240,504 304,107 544,611
Revaluation adjustments (774,928) 40,140 (734,788)
At31 March2024 (534,424) 344,247 (190,177)
NET BOOK VALUE
At31 March2024 15,122,569 973,992 16,096,561
At31 March2023 13,787,768 422,968 14,210,736
Other
loans
£
At 1 April 2023 629,909
Repayments inyear (609,909)
At31 March2024 20,000

INVESTMENT PROPERTY
£
FAIR VALUE
At 1 April2023 415,875
Impairments (24,053)
At31 March2024 391,822
NET BOOK VALUE
At31 March2024 391,822
At31 March2023 415,875
Notes to the Financial Statements - continued Notes to the Financial Statements - continued
**for the ** Year Ended 31 March 2024
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Otherdebtors 5,150 11,951
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Bank loans andoverdrafts (seenote 13) 328
Othercreditors 14,007 5,308
14,007 5,636
13. LOANS
Ananalysis ofthematurityofloans is givenbelow:
31.3.24 31.3.23
£ £
Amounts fallingdue withinoneyearondemand:
Bankoverdrafts 328
14. MOVEMENT IN FUNDS
Net
movement At
At 1.4.23 infunds 31.3.24
£ £ £
Unrestricted funds
General fund 16,480,019 646,548 17,126,567
TOTAL FUNDS 16,480,019 646,548 17,126,567
Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 528,580 (585,186) 703,154 646,548
TOTAL FUNDS 528,580 (585.186 703,154 646,548
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 (817.849 16,480,019
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) (817.849
Net
movement At
At 1.4.22 infunds 31.3.24
£ £ £
Unrestricted funds
General fund 17,297,863 (171,296) 17,126,567
TOTAL FUNDS 17,297,863 071.296 17,126,567
Incoming Resources Gains and Movement
resources expended losses infunds
£ £ £ £
Unrestricted funds
General fund 1,111,971 (1,130,724) (152,543) (171,296)
TOTAL FUNDS 1,111,971 (1,130,724) 0152.543) 071.296

Detailed Statement of Financial Activities
for the Year Ended 31 March 2024
31.3.24 31.3.23
£ £
INCOME AND ENDOWMENTS
Investment income
Rentsreceivable 27,125 25,750
Investmentincomereceivable 485,437 512,033
Depositaccount interest 14,616 8,414
Other interestreceived 1,402 37,194
528,580 583,391
Total incoming resources 528,580 583,391
EXPENDITURE
Investment management costs
Portfoliomanagement 48,963 46,266
Bank interest 60 87
49,023 46,353
Charitable activities
Grants to institutions 523,251 489,671
Support costs
Management
Travel costs 352 398
Governance costs
Auditors'remuneration 5,775 5,372
Sundries 192 144
Accountancyandprofessional 6,593 3,600
12,560 9,116
Totalresources expended 585,186 545,538
Net (expenditure)/income before gains and
losses (56,606) 37,853
Realised recognised gains and losses
Realisedgains/(losses) on fixedassetinvestments (7,581) (68,710)
Net expenditure (64,187) (30,857)