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||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|
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|||||||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|
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|||||||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||
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||||||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)|
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|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|||||
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|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|
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|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||
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||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|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|
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|||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|
##
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|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|
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|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|
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||||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|
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|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|
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|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|