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||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||||
##
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|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|
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||||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|
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|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|
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|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||
##
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|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|