2022-03-31-accounts

							Page
	Trustees'	Annual Report (incorporating			the	Director's Report)	1-5
	Independent Auditor's		Report to the Trustees				6-10
	Statement	of Financial	Activities	(including		Income and
	Expenditure Account)
	Statement	of Financial	Position				12
'	Statement	ofCash Flows					13
	Notes to	the Financial	Statements				14-27

						2022	2022		2021
					Unrestricted	Restricted
					funds		funds	Total funds	Total funds
									As restated
				Note	E				E
Income and endowments
Donations and legacies				5	39,200			39,200
Charitable activities				6	276,916		31,000	307,916
Investment income				7	292,125			292,125	313,520
Total income					608,241		31,000	639,241	313,520
Expenditure
Expenditure on raising funds:
Expenditure on raising		funds		8	283,419		31,000	314,419	185,262
Expenditure on charitable	activities			9,10	241,699		—	241,699	172,220
Total expenditure					525,118		31,000	. 556,118	357,482
Net (losses)/gains on investments				12	(15,882)			(15,.882)	160,341
Loss on disposai of investment			property		(355,000)			(355,000)
Net income and net movement			in funds		(287,759)	-	—	(287,759)	116,379
Reconciliation offunds
Total funds brought forward				23	4,249,142			4,249,142	'4,132,763
Total funds carried forward				23	3,961,383		—	3,961,383	4,249,142

						2022	2021
				Note		f	f
							As restated
Fixed assets
Tangible fixed assets		(Heritage assets)		16		531,707	427,319
Investments				18		2,719,032	3,078.839
						3,250,739	3,506,158
Current assets					'			'
Debtors				19		242,938	86,139
Cash at bank and	in	hand				1,109,286	1,032,595
						1,352,224	1,118,734
Creditors; amounts		falling	due within one year	20		(356,580)	(88,750)
Net current assets						995,644	1,029,984
Total assets less	current		liabilities			4,246,383	4,536,142
Creditors; amounts		falling	due after more than one year	21		(285,000)	(287,000)
Net assets						3,961,383	4,249,142
Funds ofthe charity
Unrestricted funds						3,961,383	4,249,142
Total charity funds				24		3,961,383	4,249,142

					2022	2021
				Note		8
Net inflow/(outflow)		from operating	activities	29	(459,095)	(390,296)
Investing	activities
Dividends	and interest	received			24,687	17,604
Rent received					267,438	295,916
Adjustments to heritage assets					(3,839)
Disposal	of investment	property			355,000
Purchase	of heritage	assets			(107,500)
Net cash	inflowl(outflow) for the year			30	76,691	(76,776)

5,	contribute Donationa	such amounts as and legacies	may be req	uired in case o	fwinding up, n	ot exceeding f	10each.
				Unrestricted	Total Funds	Unrestricted	Total Funds
				Funds	2022	Funds	2021
				6	6	F
	Grants
	Grants receivable			39,200	39,200
6.	Charitable	activities
					Unrestricted	Restricted	Total Funds
					Funds	Funds	2022
						f	f
	Other income from charitable		activities		276,916	31,000	307916
					Unrestricted	Restricted	Total Funds
					Funds	Funds	2021
	Other income from charitable		activities

Investment	income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2022	Funds	2021
					2
Rental income		267,438	267,438	295,916	295,916
Dividends	received	20,731	20,731	12,900	12,900
Bank iriterest		3,956	3,956	4,704	4,704
		292,125	292,125	313,520	313,520

Expenditure	on raising funds
		Unrestricted	Restricted	Total	Funds
		Funds	Funds		2022
		2			2
Rent		33,423			33,423
Insurance		64,703			64,703
Management	charges	19,728			19,728
Services		97,581	31,000	128,581
Legal and professional		60,953			60,953
Depreciation Other costs		6,951 '80			6,951 80
		283,419	31,000	314,419
		Unrestricted	Restricted	Total Funds
		.Funds	Funds		2021
			2		2
Rent		24,567			24,567
Insurance .		63,169			63,169
Management	charges	19,728			1.9,728
Services		38„384			38,384
Legal and professional		32,881			32,881
Depreciation		6,461			6,461
Other costs		72			72
		185,262		185,262

Expenditu	re on charitable ac	tivities by fund type
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2022	Funds	2021
			2		2
Charitable	activities	237,699	237,699	169,220	169,220
Support costs		' 4,000	4,000	3,000	3,000
		241,699	241,699	172,220	172,220

Expenditure	on charitable acti	vities by activity type
		Activities	'Grant
		undertaken	funding of	Support	Total funds
		.directly	activities	costs	2022
		2		2	2
Charitable	activities	64,808	172,891		237,699
Governance	costs			4,000	4,000
		64,808	172,891	4,000	241,699
		Activities	Grant
		undertaken	funding of	Support	Total funds
		directly	activities	costs	2021
			2		2
Charitable	activities	34,274	134,946		169,220
Governance	costs			3,000	3,000
		34,274	134,946	3,000	172,220

Analysis ofgrants
				2022	2021
Grants to institutions
Exeter City Council -	Custom House			146,500	107,225
Honeyscribe - Herald	of Spring				10,000
Honeyscribe - Pilot Arts and Heritage		Programme		(15,000)	20,000
Northcott Theatre Devon and Cornwall	Record Society			(9,609) 2,000	9,609 3,000
University of Exeter					500
Haven Banks Outdoor Education Centre - Dragon			Boats	3,000
Promenade Promotions Ltd - Free-Quay Tuesdays Honey scribe Custom House project			on the Quayside	3,000 20,000	(9,345)
Burn the Curtain - Captain Peacock Other grants		Event		3,000 20,000	(6,043)
				172,891	134,946
Total grants				172,891	134,946

								'
				Unrestricted	Total Funds	Unrestricted	Total Funds
				Funds	2022	Funds	2021
					2		F
Gains/(losses)	on	investment	property	(50,000)	(50,000)	50,000	50,000
Gains/(losses)	on	listed investments		34,118	34,118	110,341	110,341
				(15,882)	(15,882)	160,341	160,341

s to the Financial	tateme	nts	(continued)
ended 31 March 2022
Net income
Net income is stated after charging/(crediting).
											2022	2021
												F
Depreciation oftangible	fixed assets (heritage assets)										6,951	6,461
Fees payable for the audit ofthe		financial		statements							4,000	3,000
Staff costs
The charitable company	had no	employees			other	than	the	Trustees	during		the year	(2021: nil).
Trustees received no remuneration (2021				Fnii) or		expenses		(2021:fnii).
The key management	personnel of		the		charity	comprise		the Trustees.			The total	employee
benefits ofthe key management		personnel			fcr the	charity were fnil (2021:6dil).
Trustee remuneration	and expenses
No remuneration or other benefits. from				employment			with	the charity		or	a related	entity were
received by the trustees.
Tangible fixed assets (heritage		assets)
												Long
												leasehold
												property
												6
Cost
At 1 April 2021												588,051
Additions												107,500
Adjustment												3,121
At 31 March 2022												698,672
Depreciation
At 1 April 2021												160,732
Charge for the year												6,951
Adjustrnsnt												(718)
At 31 March 2022												166,965
Carrying amount
At 31 March 2022												531,707
At 31 March 2021												427,319

		Listed	Investment
		investments f	properties	Total f
			As restated	As restated
Cost or valuation
At 1 April	2021 (As restated)	798,839	2,280,000	3,078,839
Additions		190,307		190,307
Disposals		(212,704)	(355,000)	(567,704)
Fair value	movements	34,118	(50,000)	(15,882)
Transfers		33,472		33,472
At 31 March 2022		844,032	1,875,000	2,719,032
Carrying	amount
At 31 March 2022		844,032	1,875,000	2,719,032
At 31 March 2021 (As restated)		798,839	2,280,000	3,078,839

Debtors
		2022	2021
			f
Trade debtors		32,056	85,736
Prepayrnents	and accrued income	10,882	403
Other debtors		200,000
		242,938	86,139

20.	Creditors	: amoun	ts	falling due within one year
					2022	2021
					5
	Accruals	and deferred		income	82,246	58,664
	Social security and other taxes				5,819	8,667
	Other creditors				268,515	21,419
					356,580	88,750
21.	Creditors: amounts			falling due after more than one year
					2022	2021
					6
	Accruals	and deferred		income	285,000	287,000
22.	Deferred	income
					2022	2021
						5
	At 1 April	2021			338,118	348,972
	Amount	released	to income		(51,118)	(111,835)
	Amount	deferred	in year		56,310	100,981
	At 31 March 2022				343,310	338,118

			At			Gains and	At 31
		1	April 2021	Income	Expenditure	losses	March 2022
			F	6	F
		As restated
Unrestricted Funds
General funds Designated Funds			2,333,407	608,241	(525,118)	(320,882)	2,095,648
Community Fund			90,000				90,000
Property Sinking Exe Water Sports	Fund		650,000 ' 400,000			(50,000)	600,000 400,000
One Off Project			300,000				300,000
Working General	Fund		475,735				475,735
Restricted Funds
Repairs Fund				31,000	(31,000)
			4,249,142	639,241	(556,118)	(370,882)	3,961,383
						Gains and	At 31
		At	i April2020	Income 5	Expenditure f	losses	March 2021 f
			As restated				As restated
Unrestricted Funds
General funds Designated Funds			2,267,028	313,520	(357,482)	110,341	2,333,407
Community Fund			90,000				90,000
Property Sinking	Fund		600,000			50,000	650,000
ExeWater Sports			400,000				400,000
One Off Project			300,000				300,000
Working General	Fund		475,735				475,735
			4.132,763	313,520	(357,482)	160,341	4,249,142
Fund desoriptions

Analysis of net as	set	s between funds
			Unrestricted	Total Funds
			Funds	2022
			f.
Tangible fixed assets		(Heritage assets}.	531,707	531,707
Investments			2,719,032	2,719,032
Current assets			1,352,224	1,352,224
Creditors less than	1 year		(356,580)	(356,580)
Creditors greater than		1 year	(285,000)	(285,000)
Net assets			3,961,383	3,961,383
			Unrestricted	Total Funds
			Funds	2021
			f	f
			As restated	As restated
Tangible fixed assets		(Heritage assets)	427,319	427,319
Investments			3,078,839	3,078,839
Current assets			1,118,734	1,118,734
Creditors less than	1	year	(88,750)	(88,750)
Creditors greater than		1 year	(287,000)	(287,000)
Net assets			4,249, 142	4,249,142

Financial in	strument	s	s	s
The carrying	amount	for each category of financial			instrument	is as follows:
						2022	2021
						f	f
Financial assets measured			at fair value through		income	and expenditure
Financial assets measured			at fair value th'rough	income and
expenditure						844,032	798,839

Operating lea As lessee	Operating lea As lessee	se commit	ments
The total future		minimum	lease payments	under non-cancellable	operating	leases are	as follows:
						2022	2021
							f
Not later than		1 year				35,423	62,423
Later than	1 year and not		later than 5years			141,693	249,693
Later than	5 years					673,042	1,248,466
						850,158	1,560,582

as follows;		py	operan
			2022	2021
			f
Not later than		1 year	226,767	197,502
Later than	1	year and not later than 5years	780,855	717,421
Later than	5	years	5,559,386	5,173,359
			6,567,008	6,088,282

Reconciliation of	net	movement	in funds to n	et cash inflowf	rom operating a	ctiv	ities
					2022		2021
					6
Statement of Financial		Activities;	Net movement	in funds	(287;759)		116.379
Depreciation Dividends and interest					6,951 (24,687)		6,461 (17,604)
Rent received					(267,438)	'	(295,916)
(Gains)/losses on Increase in debtors	investments				4,807 (156,799)		(163,589) (32,227)
Increase/(decrease)	in	creditors			265,830		(3,800)
					(459,095)		(390,296)

Analysis ofchan	ges in cash and cash eq	uivalents
Current year		2022 6	2021 6	Change F.
Cash at bank and	in hand	1,109,286	1,032,595	76,691
Prior year		2021 6	2020	Change F '
Cash at bank and	in hand	1,032,595	1,109,371	(76,776)

Analysis ofchang	es in net debt
Current year		At 1 April 2021	Cash flow movements	At 31 March 2022
			6
Cash at bank and	in hand	1,032,595	76,691	1.109,286
Prior year		At 1 April 2020	Cash flow movements	At 31 March 2021
			6	F
Cash at bank and	in hand	1,109,371	(76,776)	1,032,595