| Page | ||
|---|---|---|
| Timstee report | 2-8 | |
| Independent auditors' |
report | 9-10 |
| Statement offinancial | activities | |
| Balance sheet | 12 | |
| Notes to the financial | statements | 13-26 |
| 2023 | 2023 | 2023 | 2023 | 2022 | ||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | Total | ||||
| funds | funds | funds | funds | funds | ||||
| Note | ||||||||
| Income and cndowrnents | from: | |||||||
| Voluntary income |
2 | 32,930 | 46,490 | 79,420 | 47,331 | |||
| Investment income |
3 | 282,482 | 33,747 | 316,2Z9 | 285,403 | |||
| Total income | 315,4IZ | 80,237 | 395,649 | 332,734 | ||||
| Expenditure on: |
||||||||
| Investment management |
costs | 4 | 64,407 | 64,407 | 72,843 | |||
| Charitable activities |
5 | 415,353 | 53,091 | — | 468,444 | 434,198 | ||
| Total expenditure | 415,353 | 53,091 | 64,407 | 532,851 | 507,041 | |||
| Net (expenditure)/income | ||||||||
| before investment gains and |
losses | (99,941) | 27,146 | (64,407) | (137,202) | (174,307) | ||
| Net realised and unrealised |
(losses)/gains | |||||||
| on investments | 7 | (1429,132) | (1,229,132) | 946,253 | ||||
| Net (expenditure)/income | (99,941) | 27,146 | (1,293,539) | (1,366,334) | 771,946 | |||
| Transfers between funds |
102,865 | (102,865) | ||||||
| Net movement in funds |
2,924 | 27,146 | (1,396,404) | (1,366&334) | 771,946 | |||
| Total funds brought forward |
at I April | 21,413 | 761 | 14,853,754 | 14,875,928 | 14,103,982 | ||
| Total funds carried forward | at 31 March | 24437 | 27,907 | 13,457,350 | 13)509,594 | 14,875)928 | ||
| Continuing operations |
| Balance | sheet a | s | at 31March 20 | 23 | |||||
|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2023 | 2022 | 2022 | ||||||
| Note | 5 | ||||||||
| Fixed assets | |||||||||
| Tangible fixed assets | 10,087 | ||||||||
| Investment | portfolios | at market value | 13,441,100 | 14,836,372 | |||||
| 13,441,100 | 14,846,459 | ||||||||
| Current assets |
|||||||||
| Debtors | 371273 | 87,183 | |||||||
| Cash on deposit | |||||||||
| Cash at bank | 76,652 | 33,164 | |||||||
| 113)925 | 120,347 | ||||||||
| Creditors; | Amounts | falling due | |||||||
| within one | year | (45,431) | (90,878) | ||||||
| Net current | assets | 68)494 | 29,469 | ||||||
| Total net assets | 15 | 13,509)594 | 14,875,928 | ||||||
| Represented | by: | ||||||||
| Funds and | reserves | ||||||||
| Permanent | endowment | funds | 10 | 1,441,050 | 1,579,549 | ||||
| Expendable | endowment | funds | 11 | 12,016,300 | 13,274,205 | ||||
| 13,457,350 | 14,853,754 | ||||||||
| Restttcted fimds | 12 | 27J07 | 761 | ||||||
| Unrestricted | funds | ||||||||
| Designated | funds | 13 | 24,337 | 21,413 | |||||
| General funds | 14 | ||||||||
| 52,244 | 22,174 | ||||||||
| Total funds | 15 | 13,509,594 | 14,875,928 |
| 2023 | 2023 | 2023 | 2023 | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | ||||||
| funds | funds | fundsf | funds | ||||||
| Voluntary | iacome - 2023 | ||||||||
| Donations | fi'om members, | The | |||||||
| Worshipful Company of |
Saddlers | and others | 21,490 | 21,490 | |||||
| Donations | from Talk and Tours of | ||||||||
| Saddlers' | Hall | 950 | 950 | ||||||
| Donations | from the Apprenticing | Chiutt, Horlock Trust | |||||||
| And Walsall Business Centre for | WLSC | 31,980 | 31,980 | ||||||
| Donations | from Childwick | Trust, | Loriners Company, | ||||||
| Walsall Business Support | and an | anonymous | donor for EFC | 25,000 | 25,000 | ||||
| 32g30 | 46,490 | 79,420 | |||||||
| 2022 | 2022 | 2022 | 2022 | ||||||
| Unrestricted | Restricted | Endowment | Total | ||||||
| funds | funds | funds | funds | ||||||
| f | |||||||||
| Voluntary | income -2022 | ||||||||
| Donations | from members, | The | |||||||
| Worshipful Company ofSaddlers |
and others | 5BO | 12,586 | 13,166 | |||||
| Donations | from Talk and Tours of | ||||||||
| Saddlers' | Hall | 725 | 725 | ||||||
| Donations | fiom the Apprenticing Charity, Horlock Trust |
||||||||
| And Walsall Business Centre for | WLSC | 33,440 | 33,440 | ||||||
| 34,745 | 12,586 | 47,331 | |||||||
| 2023 | 2023 | 2023 | 2023 | ||||||
| Unrestricted | Restricted | Endowment | Total | ||||||
| funds | funds | funds | funds | ||||||
| f | f | ||||||||
| Investmentincorne -2023 |
|||||||||
| Dividends | and distributions | from | |||||||
| investment portfolio |
281,908 | 33,610 | 315,518 | ||||||
| Interest on | cash on deposit | and at bank | 574 | 137 | 711 | ||||
| 282,482 | 33,747 | 316&229 |
| 2022 | 2022 | 2022 | 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted Emlovvment | Total | |||||||
| funds | funds | funds | funds | ||||||
| 5 | 8 | 5 | |||||||
| 3. | Investment | income (continued) —2022 | |||||||
| Dividends | and distributions | from | |||||||
| investment | portfolio | 255,039 | 30,345 | 285,384 | |||||
| Interest on | cash on deposit | and at bank | 16 | 3 | 19 | ||||
| 255,055 | 30,348 | 285,403 | |||||||
| 2023 | 2023 | 2023 | 2023 | ||||||
| Um estricted | Restricted Endowment | Total | |||||||
| funds | funds | funds | funds | ||||||
| f | |||||||||
| Investment | manngeruent | costs -2023 | |||||||
| Investment | Managers' | fees | 64,407 | 64,607 | |||||
| 2022 | 2022 | 2022 | 2022 | ||||||
| Unrestricted | Restricted | Endowment | Total | ||||||
| funds | funds | funds | funds | ||||||
| 8 | |||||||||
| Investment | management | costs -2022 | |||||||
| Investment | Managers' | fees | 72,843 | 72,843 | |||||
| 2023 | 2023 | 2023 | 2023 | ||||||
| Unrestricted | Restricted | Endowment | Total | ||||||
| funds | funds | funds | funds | ||||||
| f | |||||||||
| Charitable | activities | —Z023 | |||||||
| Grants payable | 360,443 | 46,247 | 406,690 | ||||||
| Support costs: | |||||||||
| Staff costs | 43&068 | 5,619 | 48,687 | ||||||
| Travelling | expenses | 245 | 245 | ||||||
| ITcosts | 193 | 145 | 338 | ||||||
| Bank charges | 73 | 72 | 145 | ||||||
| Legal and | professional | fees | 4,751 | 4,751 | |||||
| Audit fee | 6,580 | 1,008 | 7,588 | ||||||
| 415,353 | 53,091 | 468)444 |
| 2022 | 2022 | 2022 | 2022 | ||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | ||||
| funds | funds | funds | funds | ||||
| f | 8 | g | |||||
| 5. | Charitable | activities (continued) —2022 | |||||
| Grants payable | 337,032 | 40,005 | 377,037 | ||||
| Support costs: | |||||||
| Statf costs | 41,546 | 5,057 | 46,603 | ||||
| Tmvelling | expenses | 101 | 101 | ||||
| IT costs | 48 | 48 | |||||
| Bank charges | 99 | 96 | 195 | ||||
| Legal and | professional | fees | 4 533 | 4 533 | |||
| Audit fee | 4,841 | 840 | 5,681 | ||||
| 388,200 | 45,998 | 434,198 |
| 6. | Tangible fixed asset (continued) | Tangible fixed asset (continued) | Tangible fixed asset (continued) | ||
|---|---|---|---|---|---|
| Wn la all | |||||
| Training | |||||
| ~Centref | Totalf | ||||
| Cost | |||||
| At 1 April 2022 | 30,261 | 30,261 | |||
| Additions | |||||
| Disposals | |||||
| At 31March 2023 | 30,261 | 30,261 | |||
| Depreciation | |||||
| At 1 April 2022 | 20,174 | 20&174 | |||
| Charge for the year | 10,087 | 10,087 | |||
| Disposals | |||||
| At 31 March 2023 | 30,261 | 30,261 | |||
| Net book value | |||||
| At 31March 2023 | |||||
| At 31 March 2022 | 10,087 | 10,087 | |||
| 2023 | 2022 | ||||
| Total | Total | ||||
| funds | funds | ||||
| Fixed assets —investment | portfolio | ||||
| Market value at 1 April 2022 | 14,836,372 | 13,961,910 | |||
| Add: Purchases at cost |
1,730,255 | 1,648,902 | |||
| Less: Equalisation | receipts | (1,874) | |||
| Less; Sale proceeds | (2,166,465) | (1,753,328) | |||
| Less: Net realised gains/(losses) | (12,376) | 375,345 | |||
| Less: Net unrealised | gains/(losses) | (1,216,756) | 570,908 | ||
| Movement in cash |
held as | part ofportfolio | 270,070 | 34,509 | |
| Market value at 31 | March | 2023 | 13,441,100 | 14,836,372 | |
| Cost at 31 March 2023 | 12,198&454 | 12,359,018 |
| 8. | Debtors | 2023f | 2022 | |||
|---|---|---|---|---|---|---|
| Sundry | debtors and prepayments | 37,273 | 87,183 | |||
| 2023 | 2022 | |||||
| 9. | Creditors: Amounts | falling due within | one year | |||
| Grunts | and donations | commitments | ||||
| Creditors and accruals |
45,431 | 90,878 | ||||
| 45,431 | 90,878 |
| to be held | permanently, | ||||||
|---|---|---|---|---|---|---|---|
| 2022 | 2023 | 2023 | |||||
| Movement | |||||||
| Total | in Year | Total | |||||
| Permanent | endowment | funds | - | 2023 | 1,579,549 | (138,499) | 1)441)050 |
| 2021 | 2022 | 2022 | |||||
| Movement | |||||||
| Total | tn Yearf | Total | |||||
| Permanent | endowment | funds | - | 2022 | 1,486,677 | 92,872 | 1,579,549 |
| Expendable | Expendable | endowment | funds | —2023 | |||||
|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2023 | 2023 | 2023 | 2023 | |||||
| Income | Movements | Transfer | |||||||
| in the | |||||||||
| year | |||||||||
| General | fund | 11)894,174 | (1,033,858) | (102)865) | 10,757,451 | ||||
| RM Sturdy fund | 974,832 | (85,550) | 889,282 | ||||||
| ME Priestley | fund | 300,517 | (26,444) | 274,073 | |||||
| Diamond | Jubilee fund | 104,682 | (9,188) | 95,494 | |||||
| Totals | 13,274,205 | (I)155,040) | (102,865) | 12,016,300 | |||||
| Expendable | endowment | funds | - 2022 | ||||||
| 2021 | 2022 | 2022 | 2022 | 2022 | |||||
| Income | Movements | Transfer | |||||||
| in the | |||||||||
| f | year | ||||||||
| General | fund | 11,295,310 | 699,278 | (100,414) | 11,894,174 | ||||
| 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 |
| 12. | Restricted | funds | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted | funds | —2023 | 2022 | 2023 | 2023 | 2023 | |||||
| Total | Income | Expenditure | Total | ||||||||
| funds | funds | ||||||||||
| Saddlers' | Company | Members' | Nominated | Charity fund | 19,247 | (19447) | |||||
| The Kaye's &Labourne's | Charity | 761 | 35,990 | (33,844) | 2,907 | ||||||
| The Equine Fitters | Council | 25,000 | 25,000 | ||||||||
| Totals | 761 | 80437 | (53,091) | 27,907 | |||||||
| Restricted | funds | —2022 | 2021 | 2022 | 2022 | 2022 | |||||
| Total | Income | Expenditure | Total | ||||||||
| fundsf | f | f | funds | ||||||||
| Saddlers' | Company | Members' | Nominated | Charity fund | 11,105 | (11,105) | |||||
| The Kaye's &Laboume's | Charity | 3,825 | 31,829 | (34,893) | 761 | ||||||
| Totals | 3,825 | 42,934 | (45,998) | 761 |
| Designated funds - 2023 |
Designated funds - 2023 |
Designated funds - 2023 |
2022 | 2023 | 2023 | 2023 | 2023 | ||
|---|---|---|---|---|---|---|---|---|---|
| Total | Income | Expenditure | Transfer | Total | |||||
| funds | fundsf | ||||||||
| Diamond | Jubilee fund | 14496 | 2,230 | (453) | 16,073 | ||||
| RM Sturdy fund | 6)263 | 20,761 | (19,842) | 7,182 | |||||
| ME Priestley fund | 854 | 6,417 | (6,189) | 1,082 | |||||
| Saddlers' | Company | StaffNominated | Charity | fund | 950 | (950) | |||
| Totals | 21,413 | 30,358 | (27,434) | — | 24,337 | ||||
| Staff | |||||||||
| Designated funds |
- 2022 | 2021 | 2022 | 2022 | 2022 | 2022 | |||
| Total | Income | Expenditure | Transfer | Total | |||||
| funds | funds | ||||||||
| Diainond | 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 | Nondnate | Charity | fund | 725 | (725) | |||
| Totals | 19,399 | 27,857 | (25,843) | — | 21,413 |
| 14. | Unrestricted | Unrestricted | funds | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | funds | - | 2023 | 2022 | 2023 | 2023 | 2023 | 2023 | ||
| Total | Income | Expenditure | Transfers | Total | ||||||
| funds | funds | |||||||||
| f. | f | |||||||||
| General | funds | 285,054 | (387,919) | (102,865) | ||||||
| Unrestricted | funds | - | 2022 | 2021 | 2022 | 2022 | 2022 | 2022 | ||
| Total | Income | Kxpenditure | Transfers | Total | ||||||
| funds | funds | |||||||||
| f | ||||||||||
| General | funds | 261,943 | (362,357) | 100,414 |
| Analysis | ofnet assets between | funds | ||||||
|---|---|---|---|---|---|---|---|---|
| Analysis | ofnct assets between | funds | - 2023 | |||||
| Permanent | Expendable | 2023 | ||||||
| endowment | endowment | Restricted | DesignatedUnrestricted | Totnl | ||||
| funds | funds | funds | funds | fund | funds | |||
| Tangible asset | ||||||||
| Invcstntent | portfolio | 1,440)113 | 12,000,987 | 13)441,100 | ||||
| Debtors | 4,834 | 2,508 | 29,931 | 37t273 | ||||
| Cash on deposit and at bank | 937 | 15,313 | 37J99 | 24)297 | (1,894) | 76,652 | ||
| Creditors | (14,926) | (2,468) | (28,037) | (45&431) | ||||
| Totals | 1,441,050 | 12,016,300 | 27,907 | 24,337 | —13,509,594 | |||
| Analysis | ofnet assets between | funds | —2022 | |||||
| Pemnanent | Expendable | 2022 | ||||||
| endowment | emlowment | Restricted | DesignatedUnrestricted | Total | ||||
| funds | funds | funds | funds | fund | funds | |||
| Tangible asset | 10,087 | 10,087 | ||||||
| Investntent | portfolio | 1,578,783 | 13,257,589 | 14,836,372 | ||||
| Debtom | 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 |
| Saddlers' |
Com an Char |
itable Fun |
d | |||||
|---|---|---|---|---|---|---|---|---|
| Permanent | Expendable | 2023 | ||||||
| endowment | endowment | Restricted | Designated | Unrestricted | Total | |||
| funds | funds | funds | funds | fund | funds | |||
| f | f | 5 | ||||||
| Tangible asset | ||||||||
| Investment | portfolio | 12,000,987 | —12,000,987 | |||||
| Debtors | 1,489 | 2,508 | 29J31 | 33,928 | ||||
| Cash on deposit and at bank | 15,313 | 30,075 | 24,297 | (1,894) | 67,791 | |||
| Creditors | (6,564) | (2,468) | (28,037 | (37,069) | ||||
| Totals | 12,016,300 | 25,000 | 24,337 | —12,065&637 | ||||
| The Ka e's | tk Laboume's | Chari | ||||||
| Permanent | Expendable | 2023 | ||||||
| endowtnent | endowment | Restricted | Designated | Unrestricted | Total | |||
| funds | funds | funds | fundsf | fund | funds | |||
| Investment | portfolio | 1,440,113 | 1,440,113 | |||||
| Debtors | 3,345 | 3,345 | ||||||
| Cash on deposit and at bank | 937 | 7,924 | 8,861 | |||||
| Creditors | (8,362) | (8,362) | ||||||
| Totals | 1,441,050 | 2,907 | 1,443,957 |
| Analysis | ofnet | ofnet | asse | ts between | ts between | chari | ties - 2022 | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Saddlers' | Com | an | Charitable | Fund | ||||||||
| Permanent | Expendable | 2022 | ||||||||||
| endowment | endowment | Restricted | Dcsignnted | Unrestricted | Total | |||||||
| funds | funds | funds | funds | fund | funds | |||||||
| f | f | f | ||||||||||
| 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) | 2S,858 | |||||
| Creditors | (5&529) | (8&061) | (69&4S5) | (83,075) | ||||||||
| Totals | 13&274&205 | 21,413 | —13,295,618 | |||||||||
| The Ka e's | &Labourne's | Chiud | ||||||||||
| Permanent | Expendable | 2022 | ||||||||||
| endowment | endowment | Reshicted | Designated | Unrestricted | Total | |||||||
| funds | funds | funds | funds | fund | funds | |||||||
| f | ||||||||||||
| 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 |