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|||Page|
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|Timstee report||2-8|
|Independent
auditors'|report|9-10|
|Statement offinancial|activities||
|Balance sheet||12|
|Notes to the financial|statements|13-26|
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|||||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|||||||||
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|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|
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|||||||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|
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|||||||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|
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|||||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|
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|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|
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|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|
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|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|
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|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|
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|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|
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|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||
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|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|
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|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|
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