2022-03-31-accounts

	BROKERS&NOMINEE COMPANY:	Cheviot Asset Management	Cheviot Asset Management	Cheviot Asset Management	Limited
		90Long Acre
		LONDON
		WC2E 9RA
9	BANKERS:	National Westminster		Bank	Plc
		31 High Street
		DEAL
		Kent CT146EW
		Scottish Widows	Bank
		67Morrison Street
		Edinburgh
		EH3 SYJ
10	SOLICITORS:	Furley Page LLP
		39StMargaret's	Street
		CANTERBURY
		Kent CT12TX
		Williamson &Barnes
		12/14 Queen Street
		DEAL
		Kent CT146EU
11	ARCHITECTS &BUILDING ~NANCE	Duncan Graham 8 Cecil Square	Partnership
		MARGATE
		Kent CT9 1BD
12	SURVEYOR:	Mr Julian Sampson, Mr Jim			Pace, Mr Nick Rook
		G WFinn & Sons
		Chartered Surveyors
		I King Street
		SANDWICH
		Kent CT139BT

Hi Kent					f480
Sandwich	Technology	School			f,10,000
Sandwich Community Christmas Gazen Salts Nature Reserve			Lights		f2,500 f6,077
Sandwich	Open Golf	Green Initiative		Fund	82,000

			2022	2022	2022	2021
			Unrestricted	Restricted	Total	Total
		Note
INCOME AND ENDOWMENTS FROM:
Investment income			61,450		61,450	45,933
Charitable activities			110,560		110,560	2,933
Donations and grants received				1,000	1,000	9,433
Profit on sale ofkeehold	property		187,862		187,862	67,432
Fee for loan ofhistorical	artifacts		35,000		35,000
TOTAL			394,872	1,000	395,872	125,731
EXPENDITURE ON:
Charitable activities
Donations and grants			21,057		21,057	15,184
Bridge Fund Pensions						481
Running ofThe Guildhall			328,884		328,884	85,941
Running ofthe Sandwich	Museum		5,066	1,767	6,833	4,405
Other projects			108		108	1,986
Support costs		5	68,499		68,499	56,488
			423,614	1,767	425,381	164,485
Other expenditure
Governance costs		6	7,319		7,319	8,112
Invesiment managers' fees			11,515		11,515	10,888
TOTAL			442,448	1,767	444,215	183,485
Net outgoing resources before
transfers and valuations			(47,576)	(767)	(48,343)	(57,754)
Transfers between funds			(142)	142
Realised and unrealised	(losses) /gains
Realised k unrealised gains on investments		9	113,089		113,089	395,565
NET INCOME / (EXPENDITURE)			65,371	(625)	64,746	337,811
TOTAL FUNDS BROUGHT FORWARD			2,578,218	2,897	2,581,115	2,243,304
TOTAL FUNDS CARRIED FORWARD			2,643,589	2,272	2,645,861	2,581,115

				2022		2021
		Note
FIXEDASSETS
Tangible assets				88,894		93,569
Heritage assets				216,484		216,484
Investments				2,003,159		2,109,759
				2,308,537		2,419,812
CURRENT ASSETS
Stock oftown guides			2,621		2,621
Loan to Sandwich	Tennis Club		4,000		5,000
Debtors - sundry			29457		11,741
Cash at bank and in hand			312,827		143,361
			348,705		162,723
CURRENT LIABILITIES
Creditors			11,381		1,420
NET CURRENT	ASSETS			337,324		161,303
				2,645,861		2,581,115
ACCUMULATED	FUND
Unrestricted Funds		12		2,643,589		2,578,218
Restricted Funds		13		2,272		2,897
		14		2,645,861		2,581,115

3	INVESTMENT INCOME	INVESTMENT INCOME	INVESTMENT INCOME
					2022f	2021
	Rent receivable				8,060	8,070
	Property insurance	reimbursed			2,059	2,350
	Bank and loan interest				16	16
	Dividends, etc				36,866	35,497
	Car park dues				14,449
					61,450	45,933
4	~ABLEACTIVITIES
					2022f	2021
	VAT refund				7,461	2,300
	Guildhall hire fees				45,521
	STC contribution to Guildhall			costs	54,406
	Tours and lectures				465
	Museum fees, donations		and	souvenir sales	2,707	633
					110,560	2,933
5	SUPPORT COSTS
					2022f	2021f
	Admin salary recharges				32,196	49,623
	General admin and	oflice expenses			453	1,146
	Insurance ofother	properties			3,263	2,967
	Repairs and maintenance				165	452
	VAT (including non recoverable)				32,422	2,300
					68,499	56,488
6	GOVERNANCE	COSTS
					2022	2021
	Independent examiner's		fees		1,640	1,280
	Depreciation				4,675	5,267
	Bank charges				160	67
	Professional fees					1,498
					7,319	8,112

7	TANGIBLE FIXEDASSET	S
		Freehold	Improvements	Fixtures,	Total
		Property	to Leasehold	Fittings 6t
			Property	Equipment
	Cost
	As at 1 April 2021		108,014	27,033	145,297
	Additions
	Disp oasis
	As at 31March 2022	10,250	108,014	27,033	145797
	Depreciation
	As at 1 April 2021		28,758	22,970	51,728
	Charge for year		2,160	2,515	4,675
	Eliminated on disposal
	As at 31March 2022		30,918	25,485	56,403
	Net book value c/f	10,250	77,096	1,548	88,894
	Net book value b/f	10,250	79,256	4,063	93,569
8	HERITAGE ASSETS
	Cost
	As at 31March 2021 and 31March 2022			216,484

INVESTMENTS —MANAGED PORTFOLIO	INVESTMENTS —MANAGED PORTFOLIO
		2022	2021f
At Valuation
Valuation as at 1 April 2021		2,109,759	1,717,146
Additions in year at cost		26,596	237,793
Sale proceeds		(246,285)	(240,745)
Realised and unrealised	gains	113,089	395,565
Valuation as at 31March 2022		2,003,159	2,109,759
		2022	2021f
At Cost
Cost as at I April 2021		1,395,659	1,421@00
Additions in year at cost		26,596	237,793
Disposals in year at cost		(174,903)	(263,334)
Cost as at 31March 2022		1,247,352	1,395,659

		Brought	Incoming	Outgoing	Gains	Transfer	Carried
		forward	resources	resources	and losses		forward
		f	f		f.
General funds		2,562,370	359,872	(442,448)	113,089	(142)	2,592,741
Designated	funds:
Sandwich	Guildhall
Museum		15,848					15,848
Archive fund			35,000				35,000
		2,578,218	394,872	(442,448)	113,089	(142)	2,643,589

		Brought	Incoming	Outgoing	Transfer	Carried
		forward	resources	resources		forward
internship	fund	625	1,000	(1,767)	142
SEMDP	fund	2,272				2,272
		2,897	1,000	(1,767)	142	2,272

14	ANALYSIS O	F NET ASSETSBET	WEEN FUNDS
		Unrestricted	Restricted	Total	Total
		Fund	funds	funds	funds
				2022	2021
Fixed assets		2,308,537		2,308,537	2,419,812
Current	assets	346,433	2,272	348,705	162,723
Current	liabilities	(11,381)		(11,381)	(1,420)
		2,643,589	2,272	2,645,861	2,581,115

15 COMPARA	TIV	ES FORTHE STATE	MENT OF FINANC	IAL ACTIVITI	ES
			Year	ended 31March	2021
			Unrestricted	Restricted	Total
INCOMING RESOURCES:
Investment income			45,933		45,933
Charitable activities			2,933		2,933
Donations and grants	received			9,433	9,433
Profit on sale oftreehold		property	67,432		67,432
TOTAL			116,298	9,433	125,731
RESOURCES EXPENDED:
Charitable activities
Donations and grants			15,184		15,184
Bridge Fund Pensions			481		481
Running ofThe Guildhall			85,941		85,941
Running ofSandwich	Museum		3,915	490	4,405
Other projects			176	1,810	1,986
Support costs			51,137	5,351	56,488
			156,834	7,651	164,485
Other expenditure
Governance costs			8,112		8,112
Investment managers'	fees		10,888		10,888
TOTAL			175,834	7,651	183,485
Net outgoing resources		before
transfers and valuations			(59,536)	1,782	(57,754)
Transfers between funds
Realised and unrealised		losses
Realised &unrealised	gains on investments		395,565		395,565
NKT INCOME			336,029	1,782	337,811
TOTAL FUNDS BROUGHT FORWARD			2,242,189	1,115	2,243,304
TOTAL FUNDS CARRIED FORWARD			2,578,218	2,897	2,581,115