| Page | ||
|---|---|---|
| Trustee report | 2-8 | |
| Independent auditors' |
report | 9-10 |
| Statement offinancial | activities | |
| Balance sheet | 12 | |
| Notes to the financial | statements | 13-25 |
| Statement offina | n | cia | l | activities - | year end | ed 31Marc | h 2022 | |||
|---|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2022 | 2022 | 2022 | 2021 | ||||||
| Unrestricted | Restricted | Endowment | Total | 'I'otal | ||||||
| funds | fun&is | fumls | funds | I'unds | ||||||
| Note | 8 | f. | ||||||||
| Income and endowments | from: | |||||||||
| Voluntary income Investment income |
2 3 |
34,745 255,055 |
12,586 30,348 |
47,331 285,403 |
93.244 296i,420 |
|||||
| Total income | 289,800 | 42,934 | 332,734 | 389.664 | ||||||
| Expenditure on: |
||||||||||
| Investment management Charitable activities |
costs | 4 5 |
388,200 | 45,998 | 72,843 | 72,tl43 434,198 |
63 41G 383.174 |
|||
| I'otal expenditure | 388,200 | 45,998 | 72,843 | 507,041 | 44(i.590 | |||||
| Nct (expenditure)/income | ||||||||||
| before investment gains |
and | losses | (98,400) | (3,064) | (72,843) | (174,307) | (56,926) | |||
| Realised gain on investment | propeny | |||||||||
| Net realised and unrealised |
gains | |||||||||
| on investments | 94G,253 | 946,253 | 3.171,826 | |||||||
| Total other recognised | gains | and losses | 946,253 | 946,253 | 3.171,826 | |||||
| Net (expenditure)/incoine | (98,400) | (3,064) | 873,410 | 771,946 | 3.114,900 | |||||
| Transfers between funds |
100,414 | (100,414) | ||||||||
| Nct movemcnt in funds |
2,014 | (3,064) | 772,99G | 771,946 | 3.114,900 | |||||
| 'I'otal funds brought forward |
at | I April | 19,399 | 3,825 | 14.080.758 | 14.103.982 | 10,989,082 | |||
| Total funds carried fonvard | at | 31 March | 21,413 | 761 | 14,853,754 | 14,875,928 | 14,103,982 | |||
| Continuing operations |
| 2022 | 2022 | 2021 | 2021 |
|---|---|---|---|
| 10,087 | 16,413 | ||
| 14,836,372 | 13,961,910 | ||
| 14,846,459 | 13,978,323 | ||
| 87,183 | 77,907 | ||
| 2,497 | |||
| 33,164 | 89,927 | ||
| 120,347 | 170,331 | ||
| (90,878) | (44,672) | ||
| 29,469 | 125,659 | ||
| 14,875,928 | 14,103,982 | ||
| 1,579,549 | 1,486,677 | ||
| 13,274,205 | 12,594,081 | ||
| 14,853,754 | 14,080,758 | ||
| 761 | 3,825 | ||
| 21,413 | 19,399 | ||
| 22,174 | 23,224 | ||
| 14,875,928 | 14,103.982 |
| 2022 | 2022 | 2022 | 2022 | |||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted Endowment | 1'otal | ||||||
| funds | fun&i& | fuads | fumls | |||||
| f | ||||||||
| Voluntary | income - 2022 | |||||||
| Legacy received | ||||||||
| Donations | from members, | The | ||||||
| Worshiplul | Company ofSaddlers and others | 580 | 12,586 | 13,1GG | ||||
| Donations | from Talk and Tours of | |||||||
| Saddlers | ilail | 725 | 725 | |||||
| Donations | fiom thc Apprenticing | Charity, | Ilorlock Trust | |||||
| And Walsall Business Centre for WLSC | 33,440 | 33,440 | ||||||
| 34,745 | 12,586 | 47331 | ||||||
| 2021 | 2021 | 2021 | 2021 | |||||
| Unrestricted | Restricted | I:,mlowmcnt | 1'otal | |||||
| funds | funds | fends | funds | |||||
| f | 6 | 8 | ||||||
| Voluntary | income - 2021 | |||||||
| Legacy received | 25.000 | 25.000 | ||||||
| Donations | from members | ofthe | ||||||
| Worshipful Company of |
Saddlers and others | 60.000 | 8,144 | 68.144 | ||||
| Donations | from Talk and Tours of | |||||||
| Saddlers' | Ilail | 100 | 100 | |||||
| 85.100 | 8.144 | 93.224 | ||||||
| 2022 | 2022 | 2022 | 2022 | |||||
| Unrestricted | Restricted | Endowment | Total | |||||
| funds | funds | funds | funds | |||||
| 5 | 5 | f | g | |||||
| Investment | income -2022 | |||||||
| Dividends | and distributions | from | ||||||
| investment portfolio |
255,039 | 30,345 | 285,384 | |||||
| Interest on | cash on deposit | and at | bank | 16 | 3 | 19 | ||
| Rent receivable | ||||||||
| 255,055 | 30,348 | 285,403 |
| 2021 | 2021 | 2021 | 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | |||||||
| funds | funds | funds | funds | |||||||
| 5 | ||||||||||
| 3. | Iavestment | income | (continued)-2021 | |||||||
| Dividends | and distributions | from | ||||||||
| investment | port | folio | 264,919 | 31,456 | 296,375 | |||||
| Interest on | cash | on deposit | and at bank | 39 | 6 | 45 | ||||
| Rent receivable | ||||||||||
| 264,958 | 31,462 | — | 296,420 | |||||||
| 2022 | 2022 | 2022 | 2022 | |||||||
| Unrestricted | Restricted | Endowment | Total | |||||||
| funds | funds | funds | funds | |||||||
| 5 | ||||||||||
| 4. | Investment | management | costs - 2022 | |||||||
| Investment | Managers | fees | 72,843 | 72,843 | ||||||
| 2021 | 2021 | 2021 | 2021 | |||||||
| Unrestricted | Restricted | Endowment | Total | |||||||
| funds | funds | funds | fundsf | |||||||
| Investment | management | costs - 2021 | ||||||||
| Investment | Managers | fees | 63,416 | 63,416 | ||||||
| 2022 | 2022 | 2022 | 2022 | |||||||
| Unrestricted | Restricted | Endowment | Total | |||||||
| funds | funds | funds | funds | |||||||
| 8 | ||||||||||
| Charitable | activities | —2022 | ||||||||
| Grants payable | 337,032 | 40,005 | 377,037 | |||||||
| Support costs; | ||||||||||
| Staffcosts | 41,546 | 5,057 | 46,603 | |||||||
| Travelling | expenses | 101 | 101 | |||||||
| IT costs | 48 | 48 | ||||||||
| Bank charges | 99 | 96 | 195 | |||||||
| Long leasehold | property | expenditure | ||||||||
| Legal and | professional | fees | 4,533 | 4,533 | ||||||
| Audit fee | 4,841 | 840 | 5,681 | |||||||
| 388,200 | 45,998 | 434,198 |
| 2021 | 2021 | 2021 | 2021 | |||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | |||||
| funds | funds f |
funds | funds | |||||
| Charitable | activities (continued) | —2021 | ||||||
| Grants payable | 285,706 | 37.144 | 322.850 | |||||
| Support costs: | ||||||||
| Staffcosts | 43,996 | 5.355 | 49,351 | |||||
| Travelling | expenses | 35 | 35 | |||||
| Bank charges | 78 | 147 | ||||||
| Long leasehold | properly | expenditure | ||||||
| I egal and | professional | fees | 4.870 | 4.870 | ||||
| Audit fee | 5,221 | 700 | 5,921 | |||||
| 339,906 | 43,268 | 383.174 |
| Tangible fixed a |
sset (c | ontinued) | ||
|---|---|---|---|---|
| Watsatl | ||||
| Training | ||||
| ~Centre | Total | |||
| 8 | ||||
| Cost | ||||
| At 1 April 2021 |
26,413 | 26,413 | ||
| Additions | 3,848 | 3,848 | ||
| Disposals | ||||
| At 31 March 2022 | 30,261 | 30,261 | ||
| Depreciation | ||||
| At 1 April 2021 |
10,000 | 10,000 | ||
| Charge for the year | 10,174 | 10,174 | ||
| Disposals | ||||
| At 31 March 2022 | 20,174 | 20,174 | ||
| Net book value | ||||
| At 31 March 2022 | 10,087 | 10,087 | ||
| At 31 March 2021 | 16,413 | 16,413 | ||
| 2022 | 2021 | |||
| Total | Total | |||
| funds | funds | |||
| Fixed assets —investment | portfolio | |||
| Market value at 1 April 2021 |
13,961,910 | 10,929,396 | ||
| Add: Purchases at cost |
1,648,902 | 3,730,781 | ||
| Less: Equalisation | receipts | (1,874) | (2,177) | |
| Less: Sale proceeds | (1,753,328)(4,106,023) | |||
| Less; Net realised gains | 375,345 | 133486 | ||
| Less:Net unreal ised gains |
570,908 | 3,038,340 | ||
| Movement in cash |
held as | part ofportfolio | 34,509 | 238,107 |
| Market value at 31 | March | 2022 | 14,836,372 | 13,961,910 |
| Cost at 31 March 2022 | 12,359,018 | 12,054,425 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| 8. | Debtors | |||||
| Sundry | debtors and prepayments | 87,183 | 77,907 | |||
| 9. | Creditors: Amounts | falling due tvithin | one year | 2022 | 2021f | |
| Grants | and donations | commitments | ||||
| Creditors and accrual | s | 90,878 | 44,672 | |||
| 90,878 | 44,672 |
| donors isn to be held |
o longer kno permanently. |
wn. th | e | Trustee has concluded that i |
t tvas reasonable to assume that the |
capital had b | een donated |
|---|---|---|---|---|---|---|---|
| 2021 | 2022 | 2022 | |||||
| Movement | |||||||
| Total | in Year | Totalf | |||||
| Permanent | endotvment | funds | - | 2022 | 1,486,677 | 92,872 | 1,579,549 |
| 2020 | 2021 | 2021 | |||||
| Movement | |||||||
| Total | in Year | Total | |||||
| Permanent | endowment | 1'unds | - | 2021 | 1.156.138 | 330,539 | 1,486,677 |
| Expenda | ble | endowment | funds - 2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 2022 | 2022 | 2022 | 2022 | ||||||
| Income | MovementsTransfer | |||||||||
| in the | ||||||||||
| yearf | ||||||||||
| General | fund | 11,295,310 | 699278 | (100d414) | ild894R174 | |||||
| RM Sturdy | fund | 917,465 | 57,367 | — | 974,832 | |||||
| ME Priestley | fund | 282,785 | 17,732 | 300,517 | ||||||
| Diamond | Jubilee fund | 98,521 | 6,161 | 104,682 | ||||||
| Totals | 12,594,081 | 780,538 | (100,414) | 13,274,205 | ||||||
| Expendable | endowment | funds - 2021 | ||||||||
| 2020 | 2021 | 2021 | 2021 | 2021 | ||||||
| Income | MovementsTransfer | |||||||||
| in the | ||||||||||
| f | year | |||||||||
| General | fund | 8,801,437 | 2,488,659 | 5,214 | 11,295,310 | |||||
| RM Sturdy | fund | 713,292 | 204, 173 | — | 917,465 | |||||
| ME Priestley | fund | 219,887 | 63,111 | (213) | 282,785 | |||||
| Diamond | Jubilee fund | 76,593 | 21,928 | 98,521 | ||||||
| Totals | 9,811,209 | 2.777,871 | 5,001 | 12,594,081 |
| 12. | Restricted | funds | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted | funds - | 2022 | 2021 | 2022 | 2022 | 2022 | |||||
| Total | Income | Expenditure | Total | ||||||||
| fundsf | funds f |
||||||||||
| Saddlers' | Company | Members' | Nominated | Charity | fund | 11,105 | (11,105) | ||||
| The Kaye | s &Labourne's | Charity | 3,825 | 31,829 | (34,893) | 761 | |||||
| 'I'otals | 3,825 | 42,934 | (45,998) | 761 | |||||||
| Restricted | funds - | 2021 | 2020 | 2021 | 2021 | 2021 | |||||
| Total | Income | Expenditure | Total | ||||||||
| fundsf | f | funds g |
|||||||||
| Saddlers' | Company | Members' | Nominated | Charit& | fund | 8.144 | (8.144) | ||||
| The Kaye's &.Labourne's | Charity | 7.487 | 31,462 | (35.124) | 3.825 | ||||||
| Totals | 7,487 | 39.606 | (43,268) | 3,825 |
| 13 | Designated | Designated | funds | -2022 | 2021 | 2022 | 2022 | 2022 | 2022 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total | Income | Expenditure | Transfer | Total | |||||||
| funds | funds | ||||||||||
| Diamond | Jubilee fund | 12,140 | 2,593 | (437) | 14,296 | ||||||
| RM Sturdy fund | 7,259 | 18,745 | (19,741) | 6,263 | |||||||
| ME Priestley | fund | 5,794 | (4,940) | 854 | |||||||
| Saddlers' | Company | StaffNominated | Charity | fund | 725 | (725) | |||||
| Totals | 19,399 | 27,857 | (25,843) | — | 21,413 | ||||||
| Designated | funds | - 2021 | 2020 | 2021 | 2021 | 2021 | 2021 | ||||
| Total | Income | Expenditure | Transfer | Total | |||||||
| funds | funds | ||||||||||
| 5 | |||||||||||
| Diamond | Jubilee fund | 10,516 | 2,087 | (463) | 12,140 | ||||||
| RM Sturdy fund | 3,732 | 19,430 | (15,903) | 7,259 | |||||||
| ME Priestley | fund | 6,006 | (6,219) | 213 | |||||||
| Saddlers' | Company | StaffNominated | Charity | fund | 100 | (100) | |||||
| Totals | 14,248 | 27,623 | (22,685) | 213 | 19,399 |
| Unrestricted | funds - 2022 | 2021 | 2022 | 2022 | 2022 | 2022 |
|---|---|---|---|---|---|---|
| Total | Income | Expenditure | Transfers | Total | ||
| funds | fundsf | |||||
| General funds | 261,943 | (362,357) | 100,414 | |||
| Unrestricted | funds - 2021 | 2020 | 2021 | 2021 | 2021 | 2021 |
| Total | Income | Expenditure | Transfers | Total | ||
| funds | funds | |||||
| 5 | 5 | 5 | ||||
| General funds | 322,435 | (317,221) | (5,214) |
| Analysis | ofnet assets | ofnet assets | ofnet assets | betvveen | betvveen | funds | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Analysis | ofnet assets | between | funds | - 2022 | ||||||||||
| Permanent | Expendable | 2022 | ||||||||||||
| endowment | endowment | Restricted | DesignatedUnrestricted | Total | ||||||||||
| funds | funds | funds | funds | fund | funds | |||||||||
| 5 | 5 | |||||||||||||
| Tangible | asset | 10,087 | 10,087 | |||||||||||
| Investment | portfolio | 1,578,783 | 13,257,589 | 14,836,372 | ||||||||||
| Debtors | 5,915 | 4,006 | 77,262 | 87,183 | ||||||||||
| Cash on deposit and | at | bank | 766 | 16,616 | 8,178 | 25,468 | (17,864) | 33,164 | ||||||
| Creditors | (13,332) | (8,061) | (69,485) | (90,878) | ||||||||||
| Totals | 1,579,549 | 13,274,205 | 761 | 21,413 | 14,875,928 | |||||||||
| Analysis | ofnet assets | between | funds | - 2021 | ||||||||||
| Permanent | Expendable | 2021 | ||||||||||||
| endovvment | endowment | Restricted | DesignatedUnrestricted | Total | ||||||||||
| funds | funds | funds | funds | fund | funds | |||||||||
| 5 | 5 | 5 | ||||||||||||
| Tangible | asset | 16,413 | 16,413 | |||||||||||
| Investment | portfolio | 1,485,800 | 12.476,110 | 13,961,910 | ||||||||||
| Debtors | 5,959 | 4,417 | 67,531 | 77.907 | ||||||||||
| Cash on | deposit and | at | bank | 877 | 117.971 | 7.284 | 16.653 | (50,361) | 92,424 | |||||
| Creditors | (9.418) | (1.671) | (33,583) | (44,672) | ||||||||||
| Totals | 1,486,677 | 12,594,081 | 3,825 | 19,399 | —14,103,982 | |||||||||
| Analysis | ofnet assets | between | charities | |||||||||||
| Analysis | ofnet assets | between | charities | - 2022 | ||||||||||
| ' | ||||||||||||||
| I r | m an | Charitable | Fund | |||||||||||
| Permanent | Expendable | 2022 | ||||||||||||
| endowment | endowment | Restricted | Designated | Unrestricted | Total | |||||||||
| funds | funds | funds | funds | fund | funds | |||||||||
| 5 | ||||||||||||||
| Tangible | asset | 10,087 | 10,087 | |||||||||||
| Investment | portfolio | 13,257,589 | 13,257,589 | |||||||||||
| Debtors | 891 | 4,006 | 77,262 | 82,159 | ||||||||||
| Cash on | deposit and | at | bank | 16,616 | 4,638 | 25,468 | (17,864) | 28,858 | ||||||
| Creditors | (Sr529) | (sr061) | (69,485) | (83,075) | ||||||||||
| Totals | 13)274,205 | 21,413 | 13,295,618 | |||||||||||
| he Ka e | s | &Labourne's | Charit | |||||||||||
| Permanent | Expendable | 2022 | ||||||||||||
| endowment | endowment | Restricted | Designated | Unrestricted | Total | |||||||||
| funds | funds | funds | funds f |
fund f |
funds 5 |
|||||||||
| Investment | portfolio | 1,578,783 | 1,578,783 | |||||||||||
| Debtors | 5,024 | 5,024 | ||||||||||||
| Cash on | deposit and | at | bank | 766 | 3,540 | 4,306 | ||||||||
| Creditors | (7,803) | (7,803) | ||||||||||||
| Totals | 1,579,549 | 761 | 1,580,310 |
| Saddlers' | Com | an | Charitable | Fund | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Permanent | Expendable | 2021 | ||||||||
| endowment | endowment | Restricted | Designated | Unrestricted | Total | |||||
| funds | funds | funds | funds | fund | funds | |||||
| 8 | ||||||||||
| Tangible asset | 16,413 | 16,413 | ||||||||
| Investment | portfolio | 12,476,110 | 12,476,110 | |||||||
| Debtors | 762 | 4,417 | 67.531 | 72,710 | ||||||
| Cash on deposit | and | at bank | 117,971 | 6,162 | 16,652 | (50,360) | 90,425 | |||
| Creditors | (6,924) | (1,670) | (33,584) | (42,178) | ||||||
| Totals | 12,594,081 | 19,399 | 12,613,480 | |||||||
| he Ka e's | & Laboume*s Ch ri | |||||||||
| Permanent | Expendable | 2021 | ||||||||
| endowment | endowment | Restricted | Designated | Unrestricted | Total | |||||
| funds | funds | funds | funds | fund | funds | |||||
| 8 | ||||||||||
| Investment | portfolio | 1,485,800 | 1,485,800 | |||||||
| Debtors | 5,197 | 5,197 | ||||||||
| Cash on deposit | and | at bank | 877 | 1,123 | 2,000 | |||||
| Creditors | (2,495) | (2,495) | ||||||||
| Totals | 1,486,677 | 3,825 | 1,490,502 |