Charlty nttmbtr.. 283617 Cobtree Manor Estate Trustee's Report and Fillancial Statements For the Ye4r Ended 31 March 2022 Cobtrtt M*nor Est•t¢ Conttits Page R¢f¢r¢n£e and Adtninistrallvt Details of th¢ Charity, 11$ Tn￿teS and Advisers TnJste£'s R¢Èy)rt Inde￿ndent Audiiors, R¢p)rt on th¢ Fin8nciaJ Statejllents ststemenl ofFitwJ¢2al A¢tlVjl1¢5 Balane¢ Sh¢¢t io Notes to the FingJJ¢ial Stat¢m¢nts Cobtree Manor Es¢•t¢ R¢f¢r¢Dtt and Admini$tT4tiv¢ D¢tsil$ of the ChArity, its Trusttts *lld Advist For the Y¢ar Elldtd JJ Ma￿h 2022 Trn$tte$ Maidstone Borough Council Th¢r¢ are no individual tA￿￿¢s. All elertcd members of the Maidsknne Borough Council t￿rrOr￿ duties of ttustees but are not InJst¢es in th¢ir right. A ￿1] list of members is availabl¢ on reques¢. Ch&rity Ttgistertd number 283617 Prineipgl 0￿1¢¢ Maidmone Bomugh Council Maid5ton¢ House King Street Maidstone Kent ME156JQ Indtptndtut 4udltts UHY Kejjt LLP UHY Hacker Young Chartered Accountants Statutrkry Auititors Tham¢5 Hou5¢, Roman Squ&r¢ SittingtM)urnt Ktni MEIO 4BJ BADk¢ All fi]nds we managed by Maidstone Borough Countil ai.. Lloyds Bank pl¢. City Office Badey ￿1ve Gillingham Kent ME5 OLS Solititors Head of Legal Patknetship Mid-Kenl Legal Services Maid5tone Borough Council Msidslone Hous¢ Maid51on¢ Kettt MEIS 6JQ P￿tI Cobtree M**or Est*¢e Trn$tee'$ Report For the Ye8r Ended 31 MArch 2022 The Maidsione Bortsugh Countil a¢iin8 as CoTp)rnt¢ Trustee to the rtgi5tered Charity knowTr as-Cobtr¢¢ Manor E5tat¢" pr¢s¢nts its atmual rqx)rt Tdation to th¢ fmaucial year eJJdinB 31 Ma￿h 2022. Trnstets llJ¢ trust¢¢ who soval during the year IS 8tK>WTh on th¢ infor[[￿1]0￿ we. OWEcnvES AND ACTIVITIES Governitt¢ Oble¢t The goV￿ning Obj￿ of the Charity remains thai d¢fin¢d in the Iwe of the Cobtree Ests*dat¢d 13 July 1971 between the Cobiree Charity Trust Limsled (the lessoT} and the Maidstone Borough Th)uncil (the lessee). The 8ovemin8 objfxt 18 slatrd as.. "To hold Cobtr¢¢ M*nor aNI Cobtr¢e Manor Estate for the Lwjefit of the inhabitsnts of Maid5tone atsd other memben ofthe 8ener8] public one OT otheror all of the following ways.. By maintainitig Ihecobiree Manor Esgaie as an op¢n space defind by thc SpauE Act 154J6 if th¢ I¢s5¢¢S think fit providing the￿al fa¢iliiie8 f4)r organi5¢d games and other Sports" With the co[￿¢￿1 of . .[the Cobtr¢¢ Charity Trust Limited atsd the Kent County Councill... in wch oth¢r wdy for the benefit of the inhabitants of Maidston¢and oih¢rm¢mb¢rs of the genthl public a5 the Council sha]1 from tim¢ io tsni¢ thitth appropTia*." Object ofthe Ch•rlty The la* Sir Garrard Tyrwhitt-Drake Iwueathed his fOrn￿r ¢#at¢ lo th¢ Cobtree Charity TTU51 Limittyj and sctdown in the codicils to his Will wtsirements for its futhrc use. In seeking to interpret thes4 x)rnaim¢s wnfli¢tin& ¢odicils the M￿dItorte Borough Council and Cobtree Charity Trust Limit￿ aw¢d thai th¢ E$late in its cntiTety. attd the intended chariTrbl¢obJwt5. should b¢ leas￿1 to and govL¥n￿ by, th¢ Maidstone Bomuth Coun¢il. The MaLdsione Borough Council, ascoryornle Trustee to the Cjmity. has d¢i¢rnin¢d gnd regularly review5 a SErie50fpt>li¢i¢s to guide the actions of its and employees ill fuifjlling th¢ governing obje£t of the Charity. Manb¢rsof the Cobtre¢ ManorEstsle ChaTity C4)mmittee manage all aSP￿ts of the Chttrity on bthalf of ihe Council. Inforn￿l liaison ¢L)niinues with the Tw*e¢s to the Cobiree Charity Ttusi Limsityj. particularly with reg3rd to considering potelltial developrnents. Membths of the Cobiree Charity TTUSt Limita are invital to attend ihe me¢tin8s of th¢ Cobtree Manor Estate Charity Comrnilte¢. ACHIEVEMENTS AND PERFORMANCE Oryatthdoll of the Charfty Thc Trust￿ to the Rcgisi¢r¢d Charity known &% the Cobtree M￿Or Esrat¢ Temwns th¢ cor￿rate BLxly of the Maidstorte ￿)rough Council. How the funcliot15 of the CorpornT¢ Trus*¢ are implemented is reittraicd in the section ab)v¢. All individua] d¢cted M¢mb¢rs to the Maid51one B0￿U￿h Council ar¢ ins¢Nctd to ptyforrn any duties and rtSPL)nsibilitie8 they have in relation 10 the charity ￿ though they were act￿8 as individu81 In￿1¢￿ alb¢it that they are not individual trustees irt Charity taw. All elected Members and Officcrs ofih¢ Q)un¢sl ar¢ T¢minded of the Council's obli¥aiions ￿ ihe Charity howth¢% n¢¢d io b¢ considered quite separdtely fiom the nornial duii¢s of th¢ Council acting as the Lo¢al Auihoriiy. An A lo Z'aid m¢moir- is mad¢ available 10 all M¢mb¢T5 and oificers i'la thB Council's irtiernal intratt¢i sli¢. Underthe terrns of the lease upon which the Charity holds the Cobtree Martor Estate, atvj in thc sp¢cifid cir¢umst4w¢s, th¢ Coun¢il ¢oniinues ￿ liaise with IK>th the freehold owierof lh¢ Estst¢, the Cobiree C.haTity Trust Limited, and the K¢ni County Council. Advlet to Trnstees Th¢advice for tru51ees publishd by the Chanty Commission is givo to new Mem￿ of the charity committ¢¢ and n¢w guidanc¢ 18 notifi￿ and mad¢ availabl¢ lo the]D ￿ il is r￿e1Ved from lh¢ Commission. Committee metnbeT5 h8w¢ free access 10 all members of staff10 ensure thai rh¢y can be fully aware of the SPL*ial considerdiion5, acflvjties and i]nplications of, and for. the charity. Page 2 Cobtree M•nor E$tst¢ Trn5tee's Report For the Year Ended JI MAr¢h 2022 Aetlvltl The following para8Taphs aT¢ in¢lude41 tod¢D￿nstrate how th¢ c1￿)ty is It￿]n8 itsoblE8Rtion to provide a publiebellefji. The primary activities of the Charity are to matwe and maimain three facilities to which the generdl public haVe￿C￿5.. the Cobtrec ma￿)rP￿rk- which is a par￿atsd environnKni with woodland and meadows contsinirtg & wide v4ri¢ty of tr¢es 5htub5 and which is freely ac*5sible 10 the genthxl publi¢, 92Jd the Cobtree ManorPaTk Golf Cour5e- which is apay and play facility accessible to ail. and Kent Life-a fann heritsge attraction, includuJ8 acollection of histOTi¢ artefacty whi¢h 15 OP•) to the public eithtton a pay on ejjty or through an annual membership fee. Cobtrttcolf Couryt Ytar 2012121113 Routtth Ha ed 201312014 36,923 37,482 39,927 40J93 2014noJ5 2015ll016 201612017 11 201712L118 35,972 36008 26,006 27281 38A(K) 201812019 201912020 2020Q021 202112022 Round5 playd in 2021r2022 38.500 which i5 the highe$1 total sirt¢e 201&Q017. The signifiunt increlse in golf participation seen during th¢ Covid-19 pgnd¢mi¢ hgs b¢¢n sustained at Col)tree. Golf was oneof the first leisuTe activiti¢s that could ￿ done each Covid lockdown period was ¢8styJ. which result￿ in many pwpl¢plgyin8 al Cobire£ in 202012021 when regulations peTmill them to. Ji is Pl&￿ing to xe ￿ many of these visitors contitiuitig to Vi5jl atsj play Cobtree M￿￿rF*k Golf Course as w¢ emerge from the palldemic. Cobtrne Mltyor P•rk Thepark was award¢d aGr¢A Flag Award for 202112022. The park has continued ￿ anraci ¢xirthi¢ly high visitor Dwnkn in 21r2in022 a result of the Covid-19 pa)yJemi¢. although numb¢TS w¢r¢ not os high 35 they were in 202(V2021. With TestrictK)ns limiting where pwple could go and whai they ¢ould do. the park b¢¢ame & very busy desllljation every day of the pandemic and il's encouTawng lo see that 80 many orth¢ n¢w visitors it attr8¢t￿ in 2020 wntinud ￿ visit in 2021. Carpark irtwme totalled £132,532 for 202112022 Financa*l Year which was 151hTr on 202012021, ahhough 202012021 r¢wrd y¢4r lorcwpork ￿¢$. Comparthl to 2019Q020 the 202112022 are 2￿￿ higher. The amalgamation of staff at Cobtree Manor PBrk with the parks and open 5pa¢esdwarttneni at tbe council has been a rea] sucttss. Thep*k btJJ¢fJts ftt)m beit)8 part of a ¢oll¢¢liv¢ of parks with a mBna8ement dep8rtment behind it. Managemelli L5 In0￿ resilient ond the departn￿lI ens￿e$ its eoll#tive skills 8￿j experien￿9 are deploy￿ at Q>btr¢¢. Outdwr theatK return￿ in the 5uThmerof 2021. delivered by partners a¢ the Hazlitt Theatre. Th¢perfon￿ces of Ali¢¢ in Wond¢rlgnd drew audiences of JmTe than 250 each evening. Ticket pri￿ were s* at affordabl¢ family rale5 to enabl¢ th¢air¢ ￿ t¢ broughi to new audiencts. Ihe Ha7.litt t¢am gr¢ returning in the 5llmmerof 2022 to deliver family outthr theairc once again. In Decemiw 2021 thep*k host￿ the inau8urg1 Glow evcnt at CobtreG a wint¢r-th¢m¢d lights tiwl ihroughotst thepllrk and woodland. It attracted Ihou5andsof Yisito￿ across 8 fortnight of eveninRs in th¢ run up to Christmas. Thi5 ¢vetil also returns in the wini¢r of 2022 aftty a Su¢￿$sfUl f￿51 year. Page 3 Cobtr¢e Manor Estate Trnste¢'s Report For the Year Ended 31 March 2022 Kent Ufe Having 5llffer￿ multiple ¢losure8 in 2020r2021 b¢¢ause of the Covid-19 partdemic. Keni Life r¢cov¢r¢d strongly in 102112022. Visitor nyjnbers were litn11￿1 by social distancing in the Spring and ¢prly 5ymnw of 2021. bul by the ¢J¥J of ihe year visitor numbers 8nd scTrM)ol bookings were rcturning to norn)￿. Ihe winter events pro8ramrt￿ wa8deliver￿ on asmaller scale in 2021. so thai the Site￿uld ranain agil¢ lo any further Covid.19 oulbr¢aks and T¢Strictions. Into 2022 and the K￿1 Life managem¢Dt t¢4m is working on thetreatioJJ of anew T¢#aurant on SLI¢ that will deliver a new larger mtnu off¢ring lo ils Tl]any wisiiors. Addldonal VoluDteer Help •Dd IntsD¥lblt lrttojnt The Cobtrev M¢n'$ Shed group mov¢d from its Elephanl House location in spring 2022 and transfrrred to a ￿llnt building at Kent Lif& This vertue. altlK)ugh smallLY. wves th¢ sh￿ Group i￿tter &xessibility and a greater tlow of cuslotner5. The sh￿ Group is a]r￿[Y contributing volunteerhours and caTWlry items 10 K¢nt Life, includin8 5￿me new farMYW￿ enclosures forthe animal$. Revlew of Public B¢nefi¢ The Tnjstee continues to con8id¢r ynd ensure that the Charity meets its r¢qUirem￿l to ¢omply the testof public bet)efJt. The Cfjbtreemanor P** remains fr¢¢ly a£¢¢ssible lo the general publi¢ and the pay and play golf wurse 15 acce55ible to a]1 th0￿ who wish w take adv￿ts￿e of it facilities at reasonable wsL whilst Kent Lifeprovides a family day out for a rvdsonable fee. Rel*t¢d Party Dlsd08U Th¢ MaidstODe BotDU8h Council is the Corporatr T￿￿ of the Chuity. In addititin the a)un¢il itseifowjs part of th¢ lat0 uron which the Cobir¢e Manor Park Golf Cou]se is buili. Th¢ acwunting arrdngements between the Council and the Chwiiy aT¢ that th¢ Council is T¢swins¢bl¢ for all r￿lP1S and p3yrnents forboih the golf cours¢ and th¢ Cobtree Manor Park. Ai the end of each fillancial yeaT the tot￿ net opLYattng sU￿lUS or d¢fi¢it of the Manor Park is Im￿ferred to the Charity ￿¢9￿llts. Foi the goifcouTse 719ths of th¢ total nel operating sU￿lUS OT defi¢bl IS trattsf¢rr¢4 10 th¢ ChBrity a£county refi￿ting the split of land ownership. The r¢maining Y9ths ar¢ sho￿) ll) the accounts of thecouncil. The Cfjun¢il akn ￿nployS aMaJJager who jointly tnanages Mote PaTk and the ManorPark A park rdnger ettLployd by the counckl is as5ign¢d ￿ the Manor Park ￿50.. These ￿lSts exist as part of a service level agreement for Parks amd opcn spa¢¢s manag¢m¢ni of Cobtr¢¢ Mawr Park, the total LX)$1 of which is sFM)wn irl th¢ Charity ￿cOuntS under the arran8¢ments sp¢£ified atove. Wh reqlli￿. wjdiiional lth)UT for wv¢rin8 rsnger holiday and some weekends in lh¢ summw se￿￿ ts alw paid forby the Charity. O¢h¢r officers of the Council aTe from tim¢ to titn¢ in d￿til% sp￿]fiC￿lY TelatLMI to the operaiion and mgnagem¢nl of the EsLg1¢. They are not part of the afor¢rn¢niioned service l¢v¢l agr¢anent Iheirtime and asso¢iatLwJ costs gre apportionoj ac£4)rditWy to the Cobty¢¢ acCow￿. FINANaAL REVIEW Flnancial Review Ahd lthvegtment Poll¢y Income for the Y￿ anx)unt¢d to £494l a slight increase on total iJLcom¢ of£463k in the previou5 year. All main its¢om¢ classes s]M)wn on the Stat￿nen4 of Fingn¢i&l Actiwties I"SoFA}" remain￿ consisienL ￿ThOugh within the heading for income from ¢&￿itable activities there were increases in K¢nt Lif¢ and café inco]De and stllall rèJudiOnS in ¢arpatk 8t￿ 8olf course inQX￿. Charitabl¢ Costs f¢ll sli8hdy kn £484k froTn £5(X)k in the pr¢vious y¢ar. Before gains rwrted on inv¢stm¢nts this m¢8nl the result for Iheyear was a surplus of£9k12021.. £36kl. The £60k on in￿stM￿lS1202l.. £155kl bTings thei income for the y¢ar perthe SOFA lo £69k12021.. £119kl. Th¢ gaJD on InV￿lmentS represents the mov¢m¢ni in the y¢ar on the charity, li5tcd investment st£urit1¢5. as 5knwn in noi¢ 15. The final movem￿1 in funds for the yeaT T¢lates 10 fix￿ assd revaluaiions. Th¢ ¢anyin8 V3Jue of the fLxd a58ets ha5 bttn in¢re&*J by £73k lo refiect the latcst valuations. Th¢ ov¢r811 t[￿Ve￿ent irt funds was therefore an incrcas¢ of £143k12021.. £59kl. The SUTplus generate4J as p¢rth¢ Stat&nent of Financia] Accounts ¢ontinu¢J to b¢ used to a>uJplete the repaym&)tof debi due to the Maids¥>neBoTouW) Council. Page4 Cobtree M*Dor Estate Trn$tee's Rep)rt For the Year EDded 31 MAr¢b 2022 Int¢t¢st du¢ to the Clwity in re5PXt of thePem8￿ent endownent heldon the Ch￿￿ty,$ beha]fby the Blirough Council is included P8rt ofthe ut)resth¢toJ income. The Balance sheet 5how$ nel ossels al 31 March 2022 of £4.58m. up from £4.44m at th¢ ¢nd ofih¢ prioryear. Much of this va]u¢ T¢lat¢d to th¢ charity's tangible fixed a55ets and oth¢r investmtnts held in endownent fund4 which ￿MpriS¢ £4.21m of the total. The remaining funds sit as unresiri¢ied free reserves of £438k and negative restricted furtds of £69k. This fund is in deficii as 11 Comptises th¢ [K￿k walue of the CaT park iTnprovement Works and the balance of the *%socialed loan that fiJnd¢d Ih¢m', the depreciatio Ch￿ writing the &ssetoff ovw its expected useful life brought the carying va]u¢ of rhc asset down beneAth th¢ valu¢ of th¢ r¢maining loan balanK Thk4 is not consid¢r¢d ty b¢ a conc¢m gnd will catch up UJ time when moreof the loaD 1$ rw(L Reserves Policy Restri¢¢￿1 Teserves are Maintain￿ in of the perniw)ent ¢ndowment funds. Risk MauEem¢Dt Th¢ Trusie¢ conllDUeS to th¢ business and owational risks wthi¢h th¢ Charity faces, identifies wher appropriat¢ steps to minimise the impa¢1 of any risks. All ¢ontrdCiOTS working on th¢ Eslai¢ also rry4uirtyJ lo undertake risk ¥sstssments appropyi*e kn their acti￿litt. PLANS FOR FUTURE PEIUODS The Trnstee has now implemented the master plan foT the Cobtree ManorPark and has reserve funds for its implementatiot with the pern)ission of the Clwity CoJJJmissioJJ, which will ￿d￿allY be re-p￿. Jn bjtllre al[￿ plan for the estate &8 a whole will need to be devised. TRUSTEE'S RESPONSIBILITIES The Trustee is resrM)tl8ibleforprq)tring the financial statethents ill a¢u)rdance with applic4bl¢ law and the Uttited King(knm GEn￿]Y Acnsible for assessitig the thotity's ability to corltinue as & gOUJ8 ¢on¢¢rn, dixlosing. as appliublt. mau¢rs r¢l8t¢d to going ¢oneern using the going concern knis of ac¢ounting unless th¢ Trusites either intend to liquidait iht eharity or to ¢use op¢Taiion4 or hav¢ no reaJistt¢ a]*rn&tive but to &) so. Audhork, rtspoL8lbtutkJ for tht Audlt of the flna•ei*l 5t*ttm¢ntJ We have been appoinled a5 auditor under section 144 of Iht Charities Act 2011 and report in ae¢oTda]kce with the Act and rekvaDt gulaiions made or having ¢ffeftther¢under. Our obj¢¢tiv¢s gre to obtain reasonable assurance aknut wthether the financial stotements Ls a Nthole are free from material rnisstat¢ynent. wheih¢r due io fTrud or error. and to issue an Audilors, Report tbBI includes our opiwon. Keasonable assurnn¢¢ is a high level of &ssurance. bjt is not a gUar￿te¢ that an auditcondu¢t¢d in ￿￿ord￿n¢¢ with JSAS IUKI will Slways d¢tsci a marerial misstatemeJJt whe il exists. Mi55tale]nertts ¢an ari$¢ from frdud or ¢rror and ar¢ ¢on5id¢r¢d ma*rial if, individually or in th¢ a8gT¢8ate, Ihey could rew50tthly be expect￿ to tiJfluen¢e the ec0t￿Mie de¢i8ions of users taken oll the basis of these fujanciai statsments. Irr¢gularities. including fraud. are instartc*$ of lltrn-compliance with laws and regulaiions. We desigo p]Y>ceduTes in line our r¢stM)nsibilitie5, outlit￿d above, lo delecl material rnisstalements in tC5pecl of its¢gulaTilies, including fraud. The exleDt kn which our procedures are capable of d¢i¢¢ting irr¢gularities, ijjcluding ￿￿d is detailed below.. How tht fjudli w*$ t•n8ldtred tAp*ble of de¢e¢liDff irr¢yl•ritles iDtlydill¥ fr•¥d Our approach to identifying gnd a$5essing the risks of material missts*mtni u) reyei of irr¢8ularittes, in¢ludin8 fraud a[￿ non. ¢ompliatLCt with laws Ind T¢gu14tions. 45 follows.. we ideniified the laK¥s and ttgulaiions applicable to the chsrity through diwu55ions with mgna8¢m¢nL and from ow commer¢i81 knowl¢dg¢ ¢xp¢ri¢n¢t of th¢ ¢harity and not.for-profJt s¢ctor.' we fotused on specifit 18WS 8nd regulations which we consid¢red may have a ¢JiTect material effect on the 8ctounts or the OPEralioll5 of the charity. including the Chariiics A¢1 201 I: identified laws and regulations were co]]Jmuni¢aied within the audit team and the *am remoined olert 10 iDst4Jt£es of non ¢ompliow¢ throughout the &udit. We ￿Se￿ed the susceptibiltty of th¢ ¢harity's acwunts to t[￿terial misstatsthent. thcluding obtsiniDg an wJd¢rs¢andu)g of how fraud might occur. by-. Tngking enquiries of mallogement a810 itythere they ¢onyidered there susttptibility io fraud, their knowlcdgt of thBI. suspected and alleged fraud,. 3nd considering ih¢ int¢rnal controls in placc ￿ miligate risks of frhttd and ttott-¢ompliance with laws and Teguiations. To address the ri%k of Iraudthrough mgnag¢tn¢nt bias 8nd override of controls, we.. perforjned gnalyii¢al pro¢edures 10 identify >ny unusual or un¢xp¢¢t¢d T¢lationships' t¢5t¢d journal entries to identify Un￿u&l IAtssacTions' assessed whether judgements atbd assumplions mad¢ in de¢¢rminin8 tht a¢eouniing tstimaies sei out irj IhE actountlJlB pjlicies wer¢ indicaiiv¢ of pot¢ntial bias.. inv¢sti8a*d th¢ ra¢ion4]¢ belLind signifi£ant or urlusual trat￿tio￿%. Page 7 Cobtrtt Manor E$t*te IDdeptndent AudIt0￿, Report to the Mwbers of CobtTet M*Aor Esiate Itontinuedl In respoll￿ 10 the risk of ￿regUlaritIeS and wJKornpliance with laws aod re8ulaiions, w¢ desi8Ded procedures which included, but were rlot lirnited to.. agreeing fin8nci815tatem£nl disclosures to Underlyll￿ supporting documentst￿n,. readin8 minu*$ of me¢lings ofihose charged with 8ov¢rnan¢e", and enquiring of mart8gemeni as 10 actug18nd wt¢ntlg1 litigation and ¢laims. Theye are inh¢T¢nt lifflitstions in our audit procedures de8¢rib¢d abov¢. As a result there is a risk thai w¢ will not (k*ct all irr¢gularitie includin8 those kadin8 to a InAlerial misstatemEnt in the finatt¢ial stal¢m¢nts or non-compliance *iih regulation. This risk in¢reas¢s ih¢ MOJE that ¢omplian¢¢ with a law or r¢gulation is removed fmm th¢ events aJ)d transactions reflecled in IhE financial Siaitmenis, as w¢ 'ill be kss likely lo btt4)me awar¢ of insi4nct.s of non-cojllpliance. lkne risk is al￿ gr¢ai¢T r¢garding irtegularities oc*utting due fraud r¥ther thBn e]Tor. lls fraud involves in*ni¢ongJ conceaimetLt, forgery, CDllu$ion, omisbion or misrepre5entalion. A funheT description of our res￿￿$]billiles forthe audii of th¢ financial Slatsments is lo¢at¢d on th¢ Financial Rep)rtin8 Council's w¢bsifr ai.. rrc.or uklauditorsres ibilities. Thi$ dcs¢ripiion fomis p&rt of our Auditors. Report. [1st of reporl This rewrt is madc soltly lo th¢ ¢harity's t￿steeS, as a bDdy, in awoThlan¢t with Pan 4 of the Charitie5 (Accounts and Rep)ts} R¢gulations 2008. Our audit work has bc¢n undertaken so that mighi siaie io Ik ¢hgrity's tNsfr£s those matter5 we gre required to stsi¢ io Ihejn in an Auditors, Rewrt and foT no Other PUT￿$¢. To th¢ tiillest extent pmnitted by law, do noi ￿¢¢pt or 855urne restx>nsibility to anyone other than the and iis irnsk¢s. as a body> for our audit work for ihi$ report. or for the opinions hAv¢ formed. IIHY KtDt LLP Chart¢r¢d A¢counlant5 sto￿10ry Audi￿rS Th?mes Ilouse. Roman Square SittingFourne E104W 26 January 2023 UHY Kejji LLP Va UHY Ha¢k¢rYoun8 are eligible 10 arf as auditors in t¢rn)s of section 1212 of thE Companies Ati 2006. Page 8 Cobtree Mxll•r Estate Stat¢mtNt of fiD4Bfi&l •¢t1￿tiO FOT the Yt*T Endtd 31 M8rth 2022 Unrtjlritted EMdowm¢Dt funds 2022 Tot*1 ruDds 2022 Tolol Restrkttd 2022 2022 2021 Note ID¢omt iDd tAdowrn¢n¢$ DonHtion5 and ]cgacies Charitsble activitie5 34,596 34,596 373.42 43,331 42236 27,041 352.040 47,771 36,155 373,420 43,331 42,236 Other trading activities Investments Toi*l ith¢ome and 458,987 34.596 493,583 463,OlJ7 Exptnditurt ott.. Charitsble activities 330,382 77.456 76,547 484.385 499.504 Total expeDdity 330,382 77.456 76,547 484,385 499,564 Net Incom41{txp¢ndifyr¢l belore ntl g•in$ on 128,605 142,8601 176,5471 60,150 9,198 60.150 (30.557) 155.245 Net galljs on investtnents Nel iocomellexptnditurtl TraDsfers betw￿￿r￿d5 128.605 {85J92 142,860) 46,034 116.397} 39.358 69,348 J18,688 21 Nct movrmtht in funds before other r¢eoKnh¢d gaingl(Iossu} 43,213 3,174 22,961 69,348 lJ8.688 Other rtto8nised 8aibslOo$$esl'. Gainslllo$xsl on re¥aJuatiOll of r￿ed assets 73.142 73,142 (60,QOII) rnovtment ity fuAd8 43,213 3,174 96.103 142,490 58,688 Re¢on¢ilixtioll of fuDds'. Totsl funds broU￿t fon¥ard Net movement in fund5 395.197 43,213 {72.0981 3.174 4.115.547 96,103 4,438,646 142,490 4.379,958 58,688 Tot#1 funds ¢arri fonvaTd 438,410 {68,924) 4.211.650 4,581.136 4.438.046 The Statement ofFuw¢iat A¢tivitl¢5 inrlud¢s all 80ins Hnd Ios5¢5 ye￿gniSed in the ye8r. Th¢ notes on pages I l To 25 foym part of these finan¢ial sts*menis. Pagt 9 Coblrte Mlttor FJlxte B•lanct Sheet As at 31 March 2022 Asresluted 2021 21J22 Nott Fixtd Issets Tangibl¢ os%ts Inv¢simenls 2,439,443 885.543 1,102.500 2.553.165 825.393 ILv¢stm¢ni PTop¢rty 14 4,427.480 4,377.558 Cyrr¢MI *sKts Debiors 16 307,842 182,779 257.914 242,668 Cash ai bank and in hand 490.621 500,582 c1edito￿.. amounts fallin8 du¢ within ODE year 17 1201.9391 (J65,167) Ntt £urrt#t *i*ets 288.682 335.415 Total ajsety leys curreht liAbilitit* 4,716.168 4,712,973 CTtditor5.' gmount5 f8iluJg due after mott than one y¢aT 1135,032} (274.527) Totsl *sstlS 4,581.136 4.438,646 Ch*rity funds EndoMTn¢nt fuThds R¢strict¢d funds Unrestricttd funds 21 4,211,650 168,9241 438.410 4,J15,547 (72,098) 395,J97 Tot*1 fuhd$ 4,5¥1.136 4.438.646 Tr rinan¢ial Sts1¢￿IentS w¢r¢ 2pproved and authorised for issu¢ by th¢ Trus*¢ and signed on Ihtir b¢haifby.' Councillor David Burton Ch4irni%n ofthe Cobtree Manor Est*te Charity Commltttt Date.. iig s-- 2022 The no*s on pages I 110 25 forni part of these fi]wi¢ial staiem¢nts. Page 10 Cobtret Manor ￿lItt Notes to th¢ Fin•n¢ial St*tem¢nts For ibt YtirEndtd 31 M%￿h 2022 Gtlltr*l inforjnatio Cobtr¢¢ Manor Estat¢ is untncorporated charity with the chartty number 283617. A¢tollntkng polldt$ 2.1 B*yis Of prep*r*tioM of t￿1￿<]￿1 st4temEDts The financi￿ 5tatem¢nts hav¢ b¢en prepared in &c¢ordanc¢ with th¢ Chariti¢s SORP IFRS 102} (second edition) Ac¢ouniin8 and R¢poning by Chariti¢s.' Stat¢meni of R¢eomm¢nded Pra¢ii¢e 8pplicable to charitk¢s pTeparing their accounts in ac¢ordan¢e the Financial Reporting Siandard applicable in the UK and Republic of Ireland IFRS 1021 {effective Marth 20181. the Fil￿¢]dI Reporting standa￿ applicabl¢ in the UK alld R¢publi¢ of Ireland (FRS 102) 4]Jd the Ch3ritie5 Act 2011. Cobtr¢¢ Manor E¥iat¢ m¢tts th¢ defmition of a publi¢ b¢n¢fJi ¢niiry undtr FRS 102. Assets And liabiliti¢$ air jiiiiially r¢coBni8¢d at historical cost or traDsacTioD valu¢ urLl¢ss oth¢rwis¢ stated in th¢ r¢kv8nl Oe¢OUUting TX)Iicy. 2.2 Goittg concertt Th¢ mJst¢¢S 8$5¢ss w]Kth¢r th¢ us¢ of going con¢¢rn 15 gPPTopriai¢ i.¢. wh¢th¢T The￿ 8]t any material unc¢rtainii¢s ￿lated to ¢v¢nis or ¢onditÈons that may ¢*st $i8nifi¢anl doubi on th¢ abilty of th¢ ¢haJiiable company lo cont5nue as a going ¢on¢enJ. The I￿$￿e$ tnake this tqsessment ill resrrtt of A period of Ai least one year from the date Lif authorisaiion for iS￿e of th fin8n¢i&l 5tat¢ments. The impact ofthe Covid-19 pandemic on operaiions ha5 now largely ceased. The golf course ¢ontractOT is now payin8 their rtni ots an am¢nded basil with a ￿rfOrmanc¢ ¢ltm¢ni now fomiing part of ihe annual payment. However, the re¢ovtry from the p8ndemi¢ has kert strotlg Ai the golf course, and this h&$ reflea¢d in those p¢rfomianc< PEtyinenls. Elsewth¢Te on the estate the Kent Life attraction ond the c4fe are operalins were prior lo the pAll&rnic aDd meeting theirllgreed contrllctual obligatiot Going forward the golf ¢OUTse ¢ontY•¢i 1$ du¢ kn c¢￿¢ at the end of September 2023, and chan8¢5 in the rngxkei for such coJJtta¢ts meons that the Esrao is aDticipaiin8 a thop in the anllual reJJts] p8)Thettts. Comclusion PnJd¢nt r¢vis¢d for¢¢2sts hav¢ b¢¢n PT¢par¢d for th¢ yur. taking th¢ atrrf)ve attouttt. attd usujg th¢ assumption thai rhe charity will ￿ able 10 Coniinue Providing setvices even in th¢ ¢vent ofany futhre lockdowi p¢riods. T&kirtg the aknve irtttr a¢tount the trustee$ httve ¢oo¢lud￿ there aTe ]xo m*ertAI ￿t￿¢r[ainti¢B a￿ul the ¢lwity's ability to cotttinue a going concern that it remains appropriate to Cotitinue to ath)pt th¢ gou18 ¢on¢ern basis of a¢countiti8 in preparing the filla￿ClaI slaletllenls. 2J In¢om¢ All incoine is Te¢ogniscd trn¢c the charity has entlilemtni 10 the income, it is probable that th¢ in¢om¢ wryll be received and the amount of ineome tEceivable con be ]ne8SUrtd reliably. 2.4 Expendltu Expenditure is reeo8nised once there is a le8al or consttuctive obligation to transfer e￿nOMic benefjl to J thlrd paFty, il is probable thai a transfer of ¢¢onomi¢ E¢nefits will be r¢quiT¢d in stlllem¢ni and tbe aJJJount of th¢ obligation can be meagtsred reliobly. ExE¢ndiiure is classified by activity. The costs of each aeiivity ate mad¢ up of th¢ Total of di[￿1 costs and shaTcd costs, including support cos15 involvcd in undcrtaking each aclivitv. Direcl costs allribuiable 10 a single activity are ajlocaled d￿eCtlY to that activity. St￿ed costs which colltribule to ￿ore on¢ a¢iivity ajjd support costs whi¢h aT¢ not BttributRble to a single aCti￿ty or¢ ap￿rtIoned betwEen those &clivitie5 on a basis eonsistent w'ith the use of rewur¢¢& Central statT￿sIS are allocal¢d on the basis of lime spen¥ and deprecL8IjoD ch8r8¢s allo¢ated on the ￿￿rtiOn of the asset's Pa8¢ 11 Cob¢rtt Mgnor Estite Nott8 to the Fin4nci*l Stxtttbtnts For tht Year Ended 31 J122 Actountillg policies l¢ontinutdl IA ExpeDdltM￿ I¢0Dtiniedl Exp¢ndiiur¢ on ¢haritsble activitie5 is incutttd on diredly ynd¢rtJking the &ctivitye5 whiFh further the ¢harity's objediv¢s. As well 8$ any a$￿¢l&*d suppon costs. 2.5 Intangible wets *Md #mortis*ilon Mai¢rial intangibl¢ a￿1$ capitalised and Tecognised when fuNr¢ ¢conomi¢ b¢n¢fits are probable and the or valut of the as5el ¢sn be measured Trliably. Intangible assels are initially tecognis¢d ai cosi gnd are 511bseqiienily measured at st n¢tof an￿rtisatiOn and any provision for impairnieni. ATllOrti$ation is provi(kd on the followryng b4si$'. Website development 25 % 5traighi lint 2.6 T*Diibk fixed •sJ¢ts •Dd dep￿¢￿%¢10 Tangible fjxed assets are ¢arri¢d ai eost or v4]uotion, nel of depTe¢iaiion and any provi5Lon for itDpairmellt. A revi¢w for impalrment of a fixed as*1 is c8rri¢d out if ¢v¢nts or chsnges in circumstsn¢es indi¢a* thai the ¢arying valu¢ of atsy fLxed asset may not be recoverable. Shortfalls b¢liTrttn lh¢ Carrying valu¢ of fixcd a55e15 and thrir rt¢trverable amounts Ate recogttised as impainn¢Dts. Impginllent losses ale retognised in lh¢ Stat¢m¢nt orrinancial activities. D¢pr¢¢iation is ¢harg¢d so as to allocate the ¢ost oftangibl¢ fix¢d a$5¢ts less th¢ir residual value over th¢ir ¢siimat¢d u%ful lives, using the ￿raig￿l-1)ne method. D¢pr¢ciation is provided on the followng bases.. Long-ierm le0￿h01￿ property Motor vehicles FixtutES #tsd fJttllJ8S - 12.5VLrf>n cost l(k25•/oon Cost The ass¢is' T¢sidual vyJue4 useful lives and depreciation methods are r£vieM¢d, and adjustsd PrOS￿¢tiV¢1Y ifappropriat¢, or if IhcT¢ is an indi¢aiion of g significant change sinc< the last retx)rting dat¢. tA>n8-lerni leasehold prope]ty in¢ludcs Cobtrtt Manor Park Golf Course. Kent Life Mus¢um and CobtT¢¢ Mynor Park Visiwr centr¢. A5 disclosed in noie 13 ihese are h¢ld und¢r a 999 yesr lea*. No depTe¢iaiion is charged on Ikse assets on the basis that ih¢y w¢ ￿valued annually. L¢as¢hold propert). a150 includes, at ¢osL improv¢ments at the CObt￿e Play Arta io th¢ c8r park at Cobtree Msnor Park. These assets are depreciated over their d¢¢m¢d useful lives. PA8e 12 Coblrtt Minor Estlts Nottt to the Fiti*tttiAI St*temtttts For tht Ytsr Ended 31 M*r¢h 2022 Attountin¥ ptslltles {tothtiiutrJl 2.7 1nvcstrnellt5 Fix¢d a5S¢t inv¢stm¢nts *Te ¥ forni of uJs(nJtnellt alld are initially r¢co8lliy*d ai their traJJs&¢tiott ¢05t subsequenily measured at thtir fair valu¢ ai th¢ Balanct 5h¢¢i dat¢ for investment properties c105LtiE qWt¢d makni pricc foT oih¢r listed inv¢stments. All gains and ar¢ taken to the Stattmetyt of financia] activiti¢s they artx. Reajised 8aiti$ artd losses Oll inv¢strn¢nts ar¢ ¢alcuia*d as the ditTerence between sales proceeds and their op¢ning ¢*nyin8 Value or their purchase value if acquired subsequeni to th¢ fiTSt day of the financial y¢aT. Unrea]is¢d gains and losses arc c3lculat¢d as the diffeTence between the fair Val￿ ai th¢ y¢ar end attd their rawin8 valuE. Inve$i]nenl gains gnd losses, wtrKther realised or utsreaiised, Are eombined And shown in the beaditig 'Gait￿l{lOSSes} OJJ investDxettts' in th¢ Stat¢m¢nl of fLn8nciai a¢iivittes. Inves1m¢ni properlies ar¢ measured al tair value at each reporting dale with changes in fair va]ue recoglli5ed uj 'g8ins on rtvaluaiion of r￿ed as8e18' and add¢d to th¢ ¢ndown¢ni fimd to whi¢h ih¢y rtlaie. 2.8 Finoncial instruments The ¢haTity ollty fjnancial Hssets and f￿anCial liabilities of a kind that qualify as bssi¢ fmancia] instrllthen￿ Basic rJnan¢ial inS￿MentS ar¢ initjglly T¢¢ognis¢d * transaciion valu¢ and 5ubs¢qucntly meaSU￿d ai their settlement valu¢ with the eX￿pIlon of bakk loans which are subsequ¢ntly measured at amorti￿d Cosi using the ¢tTeclive interest m¢lhod. General funds utuestri¢*d funds which ar¢ availabl¢ for us¢ at the discr¢iion of Ihe TTUStee in fiJnh¢rnnc¢ of ihe ettera] objective$ of the ¢harity and which have nLli been d¢si8natrd for other puypose5. Restricted fund5 are funds which are to be used in acKordance with 5pKific rv5triction5 impos¢d by donors or which have b¢¢n rais¢d b). the charity for psrticular purposes. The costs ofraisujg and adrninist¢Ting such fuThd$ *t charged against the 5Pttific b2nd. Tht aim and us¢ of toch ￿ 8tri£i¢d tsnd is s¢t out in th¢ notcs to the fijjancial statemetrts. Inve$tmeni inL¥)mt, gain$ and losses art allocaled to ih¢ appfopTia* fuJJd. l•¢om¢ frybm doDatiOll$ 8Dd lo8*eits UAresirltted funds 2022 Rtttri¢ted funds Tol41 fwnds 2022 TtTrlal fvnds 2021 2022 Will TTU51 iKome 34.396 34.596 26,465 570 Donatigns 34.596 34.596 27.641 Analysis of20211otsl byfynd 576 26.465 27.041 Pa￿ 13 Cobtrtt Manor E5t*¢t Notss to the StsttmeThts For th¢ Y¢¥r Ended 31 March 2022 ID¢ome from cbaritablt activiti¢s Umre$tritttd d$ 2021 Total fvnds Tolul ftmds 202J 2122 Gol(¢lub revenue 131.309 33,140 135.371 73.600 131.309 33,140 135,371 73.61)0 13J.745 17,924 146.641 53. 7311 Caf¢ income c￿ park income Kent Life income 373.420 373.420 352,(14(P Apwly$i¥ ÉJf2021 iolal bVI￿rnI 352.040 352.040 Income fyom otbtr tradinE Attfvltie$ ltsttrmt from Aon rb*ritsblt tr*dkng *ttfvities Ujrejtrlcted To¢al fulld$ 2022 Total Iwids 2021 2Q22 R¢ntsl incorne 43331 43,331 47.771 Andysts of2021 iol¢Jl tyfiuld 47.771 47.771 Invtstm¢DI incomt Unrtstri¢ted ttd$ 2022 Total Tolal 2022 2021 Investment income 42,236 42,236 36.J55 AK471ysi$ of2Q2J iotol 36.155 56.155 Pag¢ 14 Cobtrtt Mgnor EJlAte Nottj to tht Finimeiil Stattments OT tb¢ Y¢*r End¢d 31 Marfh 2Q22 Analysis of upenditure on ¢baritible ottiviti Summxry by futtd typt Illlrutriettd fuThd5 Rutrkttd fun(b Eidowmtttt fI￿dI Totxl 2012 Tothl 2021 2022 2022 2022 Charltable activities 330,382 77.456 76.547 484,385 499.504 of2Q2J iotol 357.894 65.123 76,547 499.564 Symm*ry by tAptttditsrt typt Stsff t￿11 2022 Dtprtthtio 2022 Othtrtojts 2022 Total 2022 Totol 2021 Charitable activities 122,722 361,663 484,385 499,564 Analys￿ 0/2021 totul 87,458 122.722 289.384 499,564 of txpeDdll¥tt by*etlTraties Total funds rtsial Dlrttt tosts 2022 2022 2021 Charitabl¢ #¢tiviti¢S 484,385 484.385 499,564 AJhglyKis of2021 total 499.564 499.564 PIKe 15 Cobtrtt MAnor ￿tale No¢¢5 to tbe Fii*ttti*l St*lemeDts For tht Ytir EDd¢d 31 Mxrtk 2022 An4tysis of ￿penditUrt by *¢tivities Itontinu¢dl An¥lyis of dirtmpatiie& atsd * portion of the is aix) inv¢si¢d in th¢ shares of dividend paying cornpanics li51¢d overs¢as. Ji is. Ih¢r¢foTe, subject to the price vtslaiilily of the UK and ovewas $io¢km8rk¢ts and th¢ p¢rformgnce of individual Compatties. Th¢ fund m¥y also be subjecl lo fluclulllions th turrenry exchange rdte5. Th¢ fund's focus is otL good quiliry companies with attraciiye dividend gr0￿h prospeths. Dividend distributions from th¢ fund's holdittgs howei'er ate nol 8U3ranleed and may vary. Divtrsification across industries and market ¢apilalisaiion is k¢y IJJ mana8ing liquidity risk and reducing maTket risk. The fund's risks are m¢asur£d ]nanaged by M&G as an iniegrn] w ofthe investment pro¢e$s. 16. Dtbtorj 2022 2Q21 Trode dEbtors 45,467 22.524 239,851 220.279 Oth¢r dEbtOTS Pr¢paym¢nts and accrued illcot 37.635 307.842 257.974 17. Creditors.. Arnoullts hllittg due within one year A5 re$ialed 2022 2021 Other lax&lion and socia] securi Amount 0￿d lo Maid$ion¢ Borough Coun¢il Other CredI￿rS 251 196.239 5.700 lJ9.37J 5.545 201,939 165, 167 A forrnttl ]tpaymeni agte¢m¢ni was ¢slablished with Maidsto]Je Borough Coun¢il forthe eharity lo repay the rnoney logned by th¢ the Council in respect of ¢apiial expenditUT¢ in T¢S￿¢t of the itDpro¥emeni to Cobtre¢ Manor Park w park. Repa>m¢niq began from l April 2019 ott¢e the work was eompl¢te, aDd inleresl i5 payable #i a raie of 3% IPubli¢ Works Loan Board raie 20/0 plus 1%). Ihe total balance owing to thc Coun¢il in r¢sp¢cl orth¢ car park loan at 31 March 2022 wos £262.213 {2021- £304.045). In addition lo the car park ltsart the totsl balan¢e ow¢d lo the Council also in¢ludES 0ih¢r amounts of £69.058 (2(121 £129.053). Th¢ ¢ombin¢d totsl of £331,271 (2021. £435,698) has k¢n split amounts fHlling due within one year las above) and after more than on¢ yeBr {see llole 181. Page 20 Cobtree M**or Estate Notu to th¢ FiD*Drial St*t¢ments For the YeAr Ended 31 mA￿h 2021 18. Cr¢ditors.' Amounts falling dut after mDre tban ont ye4r Asresiuied 2022 2Q21 Amount owed kn Maid5ton¢ Borough Counctl 135.032 274,327 See nmtive at the end of note 17 explaillthg the b*l8nce owed te the Coullcil. 19. Flnathtlll lllitrumEtsts 2022 2021 Fl•xntSal *$$ets Fi]Jan¢ioJ assets meawTed al fa￿ value through illcotDe and expendiluye 885,543 825.393 Finan¢iHI &55¢1$ m¢gsur¢d al fair valu¢ through incom¢ and exp¢ndiluT¢ cTrmpris¢ li5*d inv¢sllnents. 20. Prloryt*r *djustmt*ts A prior year adju51ment hss been nvdde to the COTrect the 108n elemeTht of the arnount 0￿rd to Maid$tone Borough Council. This was incorr¢¢ily dI￿10s¢d to expect¢d loan repaymenw part of th¢ ov¢rall bal8n¢e owijjg ￿ Mai(L%tone Borough Coun¢il, t￿1 b¢ing made as pcr ik loan a8rttment. The Ii)an is brated as a restri¢kd ¢r¢dilOr. The effect of the prior year &djuslJnent has been to reduce restricted ￿ndS at 31 Morch 2021 by £104,470 and illCTeas¢ ￿t￿estricted fllnds by the &gme amount. Aft¢r ¢off¢¢ling the loan b318n¢¢ the split of cr¢ditors has also been amended., ¢r¢ditor5 ra]ling du¢ within on¢ y¢ar as at 31 Ma￿h 2021 have be¢n reduced by £139.294 and Credi￿r$ failitjg due after more than one year incjrased by the same 8mouDI. The prior yc8r adju5m]ent therefote no implld on th¢ Statement of FinHnci&l Activiii¢s nor ihe ov*811 net asset position refiecfrd on the B￿ance Sheet. Page 21 Ctsbtr¢t M*llor Estite Notes to the Fin•nriAI Stattments For the Year Ended 31 Mlrth 2022 21. St*t¢ment of fundj St#t¢meDt of httdy- turrtAt y¢*r As rtJtittd BalxDCt it I ApTiI 2021 Tmmsfers lout G*illyl B*knnce 4t 31 ILo55es March 21122 Ibtomt EsptDditure IlnrtJtricl¢d funds General funds 395.197 458,987 1330.3821 185,3921 438.410 Eidowmefjl fund$ Endowtnenl capiial 4,115.547 176.547) 39.358 133,292 4.21 1,650 Restrict¢d fvnds Will Tnjsi Cobitee Manor Park pa￿ MBC car park loan 34,596 (34.596} 231,947 (304.0451 (38.6581 14.202) 193,289 (262.213) 46.034 172,098} 34,596 {77.4561 46.034 168,9241 Tot41 of fullds 4,438,646 493.583 1484.3851 133.292 4,581,136 Ullrcstrirted Fund$ These comprise funds ihai the tnJ5t¢es ate free to use th ae¢oTdanc¢ with th¢ rhHritablr objetts. Rt5trirted Fullds The Will Trusi Fund, the incoine froni whith is used io maintain the nLTal park. Thc assets of this fund ar¢ h¢ld by Cobtr¢e Charity Trust Limited, a s¢parat¢ ¢niity. Cobtree Manor P8rk w park and associated loan fTOJn MBC- thi5 reprcseLts th¢ n¢1 book valu¢ of the rar park and the amount of the outstandmg associa*d l(WL Pem*neDt EDdowmtnt CAplthl Fund The pennaneni endo￿¢llt ¢apitBI fimd comprises th¢ long-t¢rn) fixed &sseis ofthe ¢hariry, F¢llJg th¢ long-leasehold atLd buildings, ittvesimtnl PTOFrties and the portfolio of lisicd invtstm¢nts as detailed th notes 13. 14 and 15. Page 22 Coblret M*Mc¢r Es¢it¢ Notea to the Fin*nciil St*temtDts For the Y¢JLr Ended 31 ￿r¢h 2022 21. St•lem¢ffjt of fund$- priory¢ar Ats resiaied BoliTn¢e &t J Awi12020 As re$ioted Eyjenditwe Tra￿FIer$ irnlout GoipLY/ 6alon¢e al (Losses) 51 Morch 202J JpKome UDrt4tri¢l¢d fvnd• General funds 344.363 436.542 1396.5521 JO.844 395,197 Ettdowmeni t*pitAI Dds EndowTll¢nt ¢apitsl fvnds 4.Q90.849 (76.547) 95.245 4.115,547 Restritted futhd$ Will TTUSt 20,405 (26,465) Cobtree Manor Park ¢arpgrk MBC C￿ park loan 270.605 (331.859) (38.658) 27.814 231.947 (304,045) (61.254) 26,465 Q6.465) (30.844) (72.098) Totsl of 4,379,958 403.007 (499,564) 95.245 4.438.646 22. Analysi¥ of •$set$ b¢tweu funds All#1￿￿ Atstti bttwttm httds- tUrYt￿t ye*r Ullrtstrlrtrd fundj 2022 Rtstricted nd 2Q Endowm￿1 nd$ 2022 Toi*l funds 2022 TaTJgible fixed assets Fix¢d w¢t inv¢strn¢nts In￿5￿1¢nI proF¢ty Curr¢ni assets 22.547 193,289 2,223,607 885.543 ,102.500 2.439,443 885.543 1,102.500 490,621 1201,9391 1135,0321 490.621 174,758} Credirors due within oke year Credrtots due in mort than one year 1135,032) Total 438,410 {68,924} 4,211,650 4,581,136 Pag¢ 23 Cobtrtt Manor Est*¢¢ Notes to the Finanei#l Slgt¢m¢uts For thr Yt*r Emotd 31 M*r¢h 2022 22. Allatyyis of Det btN¢¢n funds l¢ontilluedl The r¢sirici¢d ¢T¢diior balances relate to balan¢e8 Owed ￿ ihe Cor￿rat¢ tru5t¢¢. Maidstone Borough Council: in re5pe¢t of funds provided during 2018.19 kn fund the new car park works that havt been ¢apilalis¢d &$ tangible fixed asset additions. It is a requiretnent of the Tepayment agrtemeni ti*r th¢s¢ gmounts to bE trellted as ond dis¢]osed as a r¢5tyi¢¢¢d bglan¢¢ in th¢ annual ¢ounts. Analysiy of Det aJJtts bttwetn fuMds- prior yur As resloied Unre$irl¢i¢d As Yesioied fynds ReJtricledftsnd$ Ejthwmenl 2021 2021 2021 2021 Tangible fLxed ossets FiK¢d 85S¢t invesbhents 30.064 231,947 2.29Q.154 825.393 I,000,otso 2.JJ2.105 825.593 1.000,000 500.562 (165. 107) Q74.527) Invtstm¢nl prop¢rty CuTrerti as8eis 500.582 {135.449) Creditors due withirt one year Creditors du¢ in trlore than otte year (29.718) Q74.327) Tot*1 395.J97 172.n98} 4, 115.547 4.438.646 Page 24 Cobtree Manor E$tAte r4ott5 to tht Fim*thti*l stsiettJtDts For Ihe Ytir Ended 31 Ma￿h 2012 23. R¢l*t¢d party traD$i¢tioAs Maidsione BoTough Countil IMBCI is the Coryorats Trustet of the Charity. MBC owns p?rt of tbE lond upon which the Bolf course i5 built. The accountin8 aTrng¢ments beNeen MBC And the cknity 4r¢ th￿ MBC 15 responsible for receipts and p&>ments for both th¢ golf cours¢ and ih¢ Matt(br PaTk. Al the end of ¢a¢h finan¢ial y¢aT th¢ ih¢ iD¢om¢ and ¢xp¢ndilur¢ r¢laiing 10 Coblr¢¢ Manor Esiatt is Shown in thc Charity'5 4CCOILnis. For the golf c4)urye 71(kn of the totsl Tevertue is t[anSfe￿ed lo thE kn15t accoun￿ ￿li¢￿ting th¢ split of land ownetship. The rema￿1n8 219ths are in the accounts of Ihe Council. Th¢ Statement of Financial A¢tivili¢s irlcludes incom¢ of £209,236 (2n21_ £207.98]) in [eI￿l0￿ to operatits8 the estate in a¢¢oT¢J*n¢e with ihis arrangemenL ag broken down below. 2022 2021 Golf Club revenue Will Irusl income Rental illcome 131.309 34,596 43.331 133,745 26.465 47,771 209,236 207,981 Expenditure refleeied Ih]L)ugh the Statement of FinaDciai Activities inclu(ks operating costs in rtlation ￿ Ill￿Me Streams A￿V¢. A5 disclosed in not¢ 10, in th¢ pri(kTyUT MBC ¢mployed stalTwh05¢ roles ¢xisted solely for the benefit ofthe Charity, and h¢nce ih¢ ¢osr of iheir ¢MpIo￿n¢nt was previously showi within staff cosrs. In total. sraff tosi$ include £Nil (2021. £87,458) of r¢¢har8¢d tmploymtni cos During the year MBC provided VaTi04]s other SCTVite5 to the Charity. which h&v¢ b¢¢n in¢ludcd wthin di￿¢1 Chatitable eX￿ndIture. Tolaj rech3Tges of £207,122 (202J - £18.193} ￿Te for these services. This iotsl wmprises.. Patks & Open Spa¢¢- £121,372. 5thff ￿charge$- £72.875., l¢g¥l and PTof¢55ional f¢¢s- £9.684: equipment hi￿ artd m8intenanct- £1,641.. oth¢r f¢¢s and servi¢es- £787 gnd stsff unifonn$- £763. At 31 March 2022, the Charlty owed £220,159 (2021- 1433.698) 10 Maidstone Borough Council. 24. CoDtrolliDg party Th¢ Charity i5 un(kFth¢ ¢ontToI of the Corpordt¢ Tru*¢¢. Maidsion¢ Borough Couneil. TaIatioD Coblret Manor Eststs 18 a regtstered charity and 1$ thtTefor¢ p)tsntially exempt from tsxation on its in¢ome and gains as the Charity falls within the defjrtilion trf a charitable tru￿ as defu]ed in Port I, Schedule 6 of th¢ Financ¢ Aci 2010. No thx ¢harge hgs arisen during the yesr. Page 25