2022-02-28-accounts

		Page
Reference and Administrative Details
Report ofthe Trustees		2 to	5
Statement ofTrustees'	Responsibilities
Report ofthe Independent Auditors		7 to	10
Statement of Financial	Activities
Statement of Financial	Position	12 to	13
Statement ofCash Flows		14
Notes tothe Statement	ofCash Flows	15
Notes tothe Financial	Statements	16 to	23
Detailed Statement of	Financial Activities	24 to	25

TRUSTEES	Mr R G Fernley Chairman	Mr R G Fernley Chairman
	The Hon R Lytton Cobbold
	Mr D W Morgan
	Mr R H I Rutter Vice Chairman
	The Hon. E Lytton Cobbold
	Mayor ofStevenage
	Chairman North Herts	Council
	Chairman Knebworth	Parish Council
	Miss M G Lytton Cobbold
PRINCIPAL ADDRESS	The Estate Office
	Knebworth House
	Knebworth
	Hertfordshire
	SG3 6PY
REGISTERED CHARITY NUMBER	289346
AUDITORS	Wags LLP t/a Wagstaffs
	Chartered Accountants	and Statutory	Auditors
	Richmond House
	Walkern Road
	Stevenage
	Hertfordshire
	SG13QP
SOLICITORS	Farrer and Co,
	66 Lincoln's Inn Fields,
	London,
	WC2A 3LH
INVESTMENT MANAGERS	Rathbone Investment	Management	Ltd,
	159New Bond Street,
	London,
	W1Y9PA

					2022	2021
			Unrestricted	Restricted	Total	Total
			funds	fund	funds	funds
		Notes	E	E	E	E
INCOME AND ENDOWMENTS	FROM
Donations and grants		3	405,201		405,201	105,048
Investment income		4	140,232		140,232	128,554
Other income			187,121		187,121	102,225
Tota'I			732,554		732,554	335,827
EXPENDITURE ON
Charitable activities
General			580,119		5&0,119	401,346
Net gains on investments			39,756		39,756	138,211
NET INCOME			192,191		192,191	72,692
RECONCILIATION OF FUNDS
Total funds brought forward			2,185,924		2,185,924	2,113,232
TOTAL FUNDS CARRIED FORWARD			2,378,115		2,378,115	2,185,924

				2022	2021
		Unrestricted	Restricted	Total	Tota I
		funds	fund	funds	funds
	Notes	E	E	E	f
FIXEDASSETS
Tangible assets	9	1,691,506		1,691,506	1,691,506
Investments	10	528,219		528,219	,493,729'
		2,219,725		2,219,725	2,185,229
CURRENTASSETS
Debtors	11	264,795		264,795	63,418
Cash at bank		97,371		97,371	153,731
		362,166		362,166	217,149
CREDITORS
Amounts falling due within one year	12	(46,276)		(46,276)	(168,954)
NET CURRENT ASSETS		315,890		315,890	48,195
TOTAL ASSETS LESSCURRENT LIABILITIES		2,535,615		2,535,615	2,233,424
CREDITORS
Amounts falling due after more than one
year	13	(157,500)		(157,500)	(47,500)
NET ASSETS		2,378,115		2,378,115	2,185,924

				2022	2021
		Notes		E	E
Cash flows from operating	activities
Cash generated from operations			1	(77,965)	18,245
Net cash (used in)/provided	by operating		activities	(77,965)	18,245
Cash flows from investing	activities
Purchase offixed asset investments				(47,146)	(24,272)
Sale offixed asset investments				66,725	27,550
Market value adjustment				(14,319)	609
Dividends received				18,845	15,346
Net cash provided by investing activities				24,105	19,233
Cash flows from financing	activities
New loans in year					50,000
Loan repayments in year				(2,500)
Net cash (used in)/provided	by financing		activities	(2,500)	50,000
Change in cash and cash equivalents		in
the reporting period				(56,360)	87,478
Cash and cash equivalents	at the
beginning ofthe reporting	period			153,731	66,253
Cash and cash equivalents	at the end	of
the reporting period				97,371	153,731

RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM	OPERATING ACTIVITIES	OPERATING ACTIVITIES
					2022	2021
					E	E
Net income for the	reporting		period (as per the Statement of
Financial Activities)					192,191	72,692
Adjustments for:
Gain on investments					(39,756)	(138,211)
Dividends received					(18,845)	(15,346)
Increase in debtors					(20' 377)	(27,488)
(Decrease)/increase	in	creditors			(10,178)	126,598
Net cash (used in)/provided			by operations		(77,965)	18,245
ANALYSIS OF CHANGES		IN NET FUNDS
			At 1/3/21		Cash flow	At 28/2/22
				f	E	E
Net cash
Cash at bank			153,731		(56,360)	97,371
			153,731		(56,360)	97,371
Debt
Debts falling due within		1year		(2,500)	(7,500)	(10,000)
Debts falling due after 1year			(47,500)		10,000	(37,500)
			(50,000)		2,500	(47,500)
Total			103,731		(53,860)	49,871

DONATIONS AND GRANTS
	2022	2021
	E	E
Donations	204,561	549
Grants	200,640	104,499
	405,201	105,048

INVES	TMENT INCOME
		2022	2021
		f	f
Rents	received	121,387	113,208
Listed	investments	18,845	15,346
		140,232	128,554

		Unrestricted	Restricted	Total
		funds	fund	funds
		E	f	6
INCOME AND ENDOWMENTS	FROM
Donations and grants		105,048		105,048
Investment income		128,554		128,554
Other income		102,225		102,225
Total		335,827		335,827
EXPENDITURE ON
Charitable activities
General		401,346		401,346
Net gains on investments		138,211		138,211
NET INCOME		72,692		72,692
RECONCILIATION OF FUNDS
Total funds brought forward		2,113,232		2,113,232
TOTAL FUNDS CARRIED FORWARD		2,185,924		2,185,924

TANGIBLE FIXEDASSETS
	Freehold	Long
	property E	leasehold E	Chattels f	Totals E
COST
At 1st March 2021 and
28th February 2022	900,000	775,000	16,506	1,691,506
NET BOOK VALUE
At 28th February 2022	900,000	775,000	16,506	1,691,506
At 28th February 2021	900,000	775,000	16,506	1,691,506

FIXEDASSET INVESTMENTS
	l.isted	Unlisted
	investments	investments	Totals
	E	f	E
MARKET VALUE
At 1st March 2021	493,644	79	493,723
Additions	47,146		47,146
Disposals	(41,184)		(41,184)
Movement in market value	28,534		28,534
At 28th February 2022	528,140	79	528,219
NET BOOK VALUE
At 28th February 2022	528,140	79	528,219
At 28th February 2021	493,644	79	493,723

		2022	2021
		E	E
Other debtors		227,270	12,775
VAT		7,362	23,201
Prepayments	and accrued income	741
Prepayments		29,422	27,442
		264,795	63,418

12.	CREDITORS:	AMOUNTS	FALLING DUE WITHIN ONE YEAR	FALLING DUE WITHIN ONE YEAR
						2022	2021
						f	f
	Bank loans and overdrafts			(see note 14)		10,000	2,500
	Trade creditors					5,603	31,602
	Other creditors					30,673	134,852
						46,276	168,954
13.	CREDITORS:	AMOUNTS	FALLING DUE AFTER MORE THAN		ONE YEAR
						2022	2021
						E	E
	Bank loans (see note 14)					37,500	47,500
	Other creditors					120,000
						157,500	47,500
14.	LOANS
	An analysis ofthe maturity			of loans is given below:
						2022	2021
						E	E
	Amounts falling due within			one year on demand:
	Bank loans					10,000	2,500
	Amounts falling between		one and two years:
	Bank loans -	1-2years				37,500	47,500
15.	MOVEMENT	IN FUNDS
						Net
						movement	At
					At 1/3/21	in funds	28/2/22
					f	f	E
	Unrestricted	funds
	General fund				2,185,924	192,191	2,378,115
	TOTALFUNDS				2,185,924	192,191	2,378,115

		Incoming	Resources	Gains and	Movement
		resources	expended	losses	in funds
		E	E	E	f
Unrestricted	funds
General fund		732,554	(580,119)	39,756	192,191
TOTALFUNDS		732,554	(580,119)	39,756	192,191

			Net
			movement	At
		At 1/3/20	in funds	28/2/21
		E	E	E
Unrestricted	funds
General fund		2,113,232	72,692	2,185,924
TOTAL FUNDS		2,113,232	72,692	2,185,924

		Incoming	Resources	Gains and	Movement
		resources	expended	losses	in funds
		E	E	E	E
Unrestricted	funds
General fund		335,827	(401,346)	138,211	72,692
TOTALFUNDS		335,827	(401,346)	138,211	72,692

		2022	2021
		E	E
INCOME AND ENDOWMENTS
Donations and grants
Donations		204,561	549
Grants		200,640	104,499
		405,201	105,048
Investment income
Rents received		121,387	113,208
Listed investments		18,845	15,346
		140,232	128,554
Other income
Income from house opening		187p121	102,225
Total incoming resources		732,554	335,827
EXPENDITURE
Charitable activities
Garden upkeep		99,339	91,943
House maintenance		86,689	88,011
Buildings and contents	insurance	31'748	32,013
Education programme	and direct trust costs	27,073	26,424
Management overheads		16,539	23,829
Strategic repairs		288,647	105,874
		550,035	368,094
Support costs
Governance costs
Trustees' indemnity	insurance	1,289	2,368
Investment managers	fee	3.122	2,649
Professional fees		14,623	12,938
Sundry expenses		2,828	615
Carried forward		21,862	18,570

			2022	2021
			E	E
Governance costs
Brought forward			21,862	18,570
Auditors' remuneration			5,600	5,250
Interest payable on	loan		2,622	117
COVID grant				9,315
			30,084	33,252
Totalresources expended			580,119	401,346
Net income/(expenditure)		before gains
and losses			152,435	(65,519)
Realised recognised	gains	and losses
Realised gains			25,541	13,267
Unrea lised gains / (losses)			14,215	34,944
Net income/(expenditure)			192,191	(17,308)