| 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 |
| Notes to the Financial | Statements | 14 to | 21 |
| Detailed Statement of | Financial Activities | 22 to | 23 |
| TRUSTEES | Mr R G Fernley - Chair | Mr R G Fernley - Chair | ||
|---|---|---|---|---|
| The Hon R Lytton Cobbold | ||||
| Mr D W Morgan | ||||
| Mr R H I Rutter Chairman |
||||
| The Hon. E Lytton Cobbold | ||||
| Mayor ofStevenage | ||||
| Chairman North Herts |
Council | |||
| Chairman Knebworth |
Parish Council | |||
| The Hon M G Lytton Cobbold | ||||
| PRINCIPAL ADDRESS | The Estate Office | |||
| Knebworth House |
||||
| Kneb worth |
||||
| Hertfordshire | ||||
| SG3 6PY | ||||
| REGISTERED CHARITY NUMBER | 289346 | |||
| AUDITORS | Menzies LLP |
|||
| 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 Borid Street, | ||||
| London, | ||||
| W1Y9PA |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| funds | fund | funds | funds | |||
| Notes | E | f | 6 | f | ||
| INCOME AND ENDOWMENTS | FROM | |||||
| Donations and grants |
153,904 | 153,904 | 405,201 | |||
| Investment income |
151,991 | 151,991 | 140,232 | |||
| Other income | 164,848 | 164,848 | 187,121 | |||
| Total | 470,743 | 470,743 | 732,554 | |||
| EXPENDITURE ON | ||||||
| Charitable activities |
||||||
| General | 539,368 | 539,368 | 580,119 | |||
| Net gains on investments | 4,397 | 4,397 | 39,756 | |||
| NET INCOME/(EXPENDITURE) | (64,228) | (64,228) | 192,191 | |||
| RECONCILIATION OF FUNDS |
||||||
| Total funds brought forward | 2,378,115 | 2,378,115 | 2,185,924 | |||
| TOTAL FUNDS CARRIED FORWARD | 2,313,887 | 2,313,887 | 2,378,115 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | fund | funds | funds | ||
| Notes | E | E | E | E | |
| FIXEDASSETS | |||||
| Tangible assets | 9 | 1,691,506 | 1,691,506 | 1,691,506 | |
| Investments | 10 | 476,568 | 476,568 | 528,219 | |
| 2,168,074 | 2,168,074 | 2,219,725 | |||
| CURRENT ASSETS | |||||
| Debtors | 11 | 228,472 | 228,472 | 264,795 | |
| Cash at bank | 80,190 | 80,190 | 97,371 | ||
| 308,662 | 308,662 | 362,166 | |||
| CREDITORS | |||||
| Amounts falling due within one year |
12 | (65,997) | (65,997) | (46,276) | |
| NET CURRENT ASSETS | 242,665 | 242,665 | 315,890 | ||
| TOTAL ASSETS LESSCURRENT LIABILITIES | 2,410,739 | 2,410,739 | 2,535,615 | ||
| CREDITORS | |||||
| Amounts falling due after more than one year |
13 | (96,852) | (96,852) | (157,500) | |
| NET ASSETS | 2,313,887 | 2,313,887 | 2,378,115 |
| 15 | ||
|---|---|---|
| 2,313,887 | 2,378,115 | |
| 2,313,887 | 2,378,115 |
| DONATIONS AND GRANTS |
|||
|---|---|---|---|
| 2023 | 2022 | ||
| E | f | ||
| Donations | 150,855 | 204,561 | |
| Grants | 3,049 | 200,640 | |
| 153,904 | 405,201 | ||
| INVESTMENT INCOME | |||
| 2023 | 2022 | ||
| E | E | ||
| Rents received | 129,003 | 121,387 | |
| Listed investments | 22,988 | 18,845 | |
| 151,991 | 140,232 | ||
| CHARITABLE ACTIVITIES COSTS | |||
| Support | |||
| Direct | costs (see | ||
| Costs | note 6) | Totals | |
| E | E | f | |
| General | 498,272 | 41,096 | 539,368 |
| 5. |
CHARITABLE ACTIVITIES COSTS General |
|---|---|
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| funds | fund | funds | ||
| E | E | E | ||
| INCOME AND ENDOWMENTS | FROM | |||
| Donations and grants |
405,201 | 405,201 | ||
| Investment income |
140,232 | 140,232 | ||
| Other income | 187,121 | 187,121 | ||
| Total | 732,554 | 732,554 | ||
| EXPENDITURE ON | ||||
| Chadtable activities |
||||
| General | 580,119 | 580,119 | ||
| Net gains on investments | 39,756 | 39,756 | ||
| NET INCOME | 192,191 | 192,191 | ||
| RECONCILIATION OF FUNDS |
||||
| Total funds brought forward | 2,185,924 | 2,185,924 | ||
| TOTAL FUNDS CARRIED FORWARD | 2,378,115 | 2,378,115 |
| 9. | TANGIBLE FIXEDASSETS | ||||
|---|---|---|---|---|---|
| Freehold | Long | ||||
| property | leasehold | Chattels | Totals | ||
| E | E | E | f | ||
| COST | |||||
| At 1st March 2022 and 28th February 2023 | 900,000 | 775,000 | 16,506 | 1,691,506 | |
| NET BOOK VALUE | |||||
| At 28th February 2023 | 900,000 | 775,000 | 16,506 | 1,691,506 | |
| At 28th February 2022 | 900,000 | 775,000 | 16,506 | 1,691,506 |
| FIXEDASSET INVESTMENTS | |||
|---|---|---|---|
| Listed | Unlisted | ||
| investments | investments | Totals | |
| E | E | E | |
| MARKET VALUE | |||
| At 1st March 2022 | 528,140 | 79 | 528,219 |
| Additions | 85,675 | 85,675 | |
| Disposals | (83,633) | (83,633) | |
| Movement in market value |
(53,693) | (53,693) | |
| At 28th February 2023 | 476,489 | 79 | 476,568 |
| NET BOOK VALUE | |||
| At 28th February 2023 | 476,489 | 79 | 476,568 |
| At 28th February 2022 | 528,140 | 79 | 528,219 |
| DEBTORS:AMOUNTS FALLING DUE WITHIN ON |
E YEAR | |
|---|---|---|
| 2023 | 2022 | |
| E | E | |
| Other debtors | 178,185 | 227,270 |
| VAT | 26,775 | 7,362 |
| Prepayments | 23,512 | 30,163 |
| 228,472 | 264,795 |
| 12. | CREDITORS: AMOUNTS | CREDITORS: AMOUNTS | FALLING DUE WITHIN ONE YEAR | FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| E | E | |||||
| Bank loans and overdrafts | (see note 14) | 10,648 | 10,000 | |||
| Trade creditors | 2,580 | 5,603 | ||||
| Other creditors | 52,769 | 30,673 | ||||
| 65,997 | 46,276 | |||||
| 13. | CREDITORS: | AMOUNTS | FALLING DUE AFTER MORE THAN ONE YEAR | |||
| 2023 | 2022 | |||||
| E | f | |||||
| Bank loans (see note 14) | 26,852 | 37,500 | ||||
| Other creditors | 70,000 | 120,000 | ||||
| 96,852 | 157,500 | |||||
| 14. | LOANS | |||||
| An analysis ofthe maturity | ofloans is given below: | |||||
| 2023 | 2022 | |||||
| E | f | |||||
| Amounts falling due within |
one year on demand: | |||||
| Bank loans | 10,648 | 10,000 | ||||
| Amounts falling between |
one and two years: | |||||
| Bank loans - 1-2years | 26,852 | 37,500 | ||||
| 15. | MOVEMENT | IN FUNDS | ||||
| Net | ||||||
| movement | At | |||||
| At 1/3/22 | in funds | 28/2/23 | ||||
| f | E | f | ||||
| Unrestricted | funds | |||||
| General fund | 2,378,115 | (64228) | 2,313,887 | |||
| TOTALFUNDS | 2,378,115 | (64,228) | 2,313,887 |
| Incoming | Resources | Gains and | Movement | |||
|---|---|---|---|---|---|---|
| resources | expended | losses | in funds | |||
| E | E | E | E | |||
| Unrestricted | funds | |||||
| General fund | 470,743 | (539,368) | 4,397 | (64,228) | ||
| TOTAL FUNDS | 470,743 | (539,368) | 4,397 | (64,228) | ||
| Comparatives | for movement | in funds | ||||
| Net | ||||||
| movement | At | |||||
| At 1/3/21 | in funds | 28/2/22 | ||||
| E | E | E | ||||
| Unrestricted | funds | |||||
| General fund | 2,185,924 | 192,191 | 2,378,115 | |||
| TOTAL FUNDS | 2,185,924 | 192,191 | 2,378,115 |
| Incoming | Resources | Gains and | Movement | ||
|---|---|---|---|---|---|
| resources E |
expended f |
losses E |
in funds f |
||
| Unrestricted | funds | ||||
| General fund | 732,554 | (580,119) | 39,756 | 192,191 | |
| TOTAL FUNDS | 732,554 | (580,119) | 39,756 | 192,191 |
| 2023 | 2022 | ||
|---|---|---|---|
| f | f | ||
| INCOME AND ENDOWMENTS | |||
| Donations and grants |
|||
| Donations | 150,855 | 204,561 | |
| Grants | 3,049 | 200,640 | |
| 153,904 | 405,201 | ||
| Investment income |
|||
| Rents received | 129,003 | 121,387 | |
| Listed investments | 22,988 | 18,845 | |
| 151,991 | 140,232 | ||
| Otherincome | |||
| Income from house opening | 164,848 | 187,121 | |
| Total incoming resources |
470,743 | 732,554 | |
| EXPENDITURE | |||
| Charitable activities |
|||
| Garden upkeep |
112,762 | 99,339 | |
| House maintenance | 83,957 | 86,689 | |
| Buildings and contents |
insurance | 38,892 | 31,748 |
| Education programme |
and direct trust costs | 33,544 | 27,073 |
| Management overheads |
82,472 | 16,539 | |
| Strategic repairs | 146,645 | 288,647 | |
| 498,272 | 550,035 | ||
| Support costs | |||
| Governance costs |
|||
| Trustees' indemnity |
insurance | 1,289 | 1,289 |
| Investment managers |
fee | 3,007 | 3,122 |
| Professional fees | 22,959 | 14,623 | |
| Sundry expenses | 2,388 | 2,828 | |
| Carried forward | 29,643 | 21,862 |
| 2023 | 2022 | ||
|---|---|---|---|
| E | f | ||
| Governance costs |
|||
| Brought forward | 29,643 | 21,862 | |
| Auditors' remuneration |
5,640 | 5,600 | |
| interest payable on loan | 5,813 | 2,622 | |
| 41,096 | 30,084 | ||
| Total resources expended | 539,368 | 580,119 | |
| Net (expenditure)/income | before gains and | ||
| losses | (68,625) | 152,435 | |
| Realised recognised gains | and losses | ||
| Realised gains | 45,816 | 25,541 | |
| Unrealised gains / (losses) |
(41,419) | 14,215 | |
| Net (expenditure)/income | (64,228) | 192,191 |