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|||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|||
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||||||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|
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|||||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|
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|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|
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|||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|
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|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|
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|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|
##
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|||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|
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|||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|
##
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|||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|
##
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||||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)|