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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|
|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||||
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||||||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|
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|||||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|
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|15|||
|---|---|---|
||2,313,887|2,378,115|
||2,313,887|2,378,115|
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|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|
|---|---|
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|||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|
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|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|
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|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|
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|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|
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|||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|
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|||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|