REGISTERED COMPANY NUMBER: 01959412 REGISTERED CHARITY NUMBER: 295399
Report of the Trustees and
Audited Financial Statements for the Year Ended 31 March 2023
for
Countypier Limited
Martin+Heller Statutory Auditor 5 North End Road London NW11 7RJ
Countypier Limited
Contents of the Financial Statements for the Year Ended 31 March 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Report of the Independent Auditors | 4 | to | 7 |
| Statement of Financial Activities | 8 | ||
| Balance Sheet | 9 | ||
| Cash Flow Statement | 10 | ||
| Notes to the Cash Flow Statement | 11 | ||
| Notes to the Financial Statements | 12 | to | 18 |
| Detailed Statement of Financial Activities | 19 |
Countypier Limited
Report of the Trustees for the Year Ended 31 March 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity was formed for the advancement of the education of persons expressing the orthodox Jewish faith, the advancement of the orthodox Jewish faith, and the relief of poverty in the orthodox Jewish community.
The charity is also actively involved in raising funds for general education, and relief of poverty, and to this end made substantial grants in the year under review.
Significant activities
There were no significant activities to be reported.
Public benefit
The trustees confirm their compliance with the duty to have regard to the Public Benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives in planning future activities.
Grantmaking
Countypier Limited has within its Articles of Association the ability to make donations.
Volunteers
During the year, the charity did not have any volunteers to help with the objective of the charity.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The trustees consider that the performance of the charity this year has been most satisfactory. Substantial funds have been granted to institutions during the period from contributions received from donors.
The Statement of Financial Activities shows a net gain of £272,918 after making total grants of £325,550 and the reserves stand at £7,282,392.
Investment performance
The trustees are currently satisfied with the investment performance of the assets. The Company has not expanded its activities during the current year, but is always looking at opportunities, the current investment property portfolio is producing good results which enhances its charitable activities.
Internal and external factors
The trustees have made a full assessment of the internal and external factors that may affect these financial statements and do not deem any factors material enough to have an impact.
FINANCIAL REVIEW
Principal funding sources
Countypier Limited is pleased and fortunate to receive donations from a number of organisations. Also through its investment policy the returns from the investments have produced good rental income.
Overall the charity has experienced a good year and hopes it will continue to do so next year.
Investment policy and objectives
Under the memorandum and articles of association, the charity has the power to make any investment, which the trustees see fit. The trustees have considered the most appropriate policy for investing funds and have found that investment in property meets their requirements to generate both income and capital growth.
Page 1
Countypier Limited
Report of the Trustees for the Year Ended 31 March 2023
FINANCIAL REVIEW
Reserves policy
The charity does not maintain a reserves policy, as reserves are distributed when they become available at the trustees' discretion. The present level of funding is adequate to support the continuation of its objects and the trustees consider the financial position of the charity to be satisfactory.
FUTURE PLANS
There are no significant future developments to report.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, the memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006, the Charities Act 2011 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005. The company was formed on 14 November 1995. The charity is managed and controlled by the directors who are the trustees, who meet regularly.
Recruitment and appointment of new trustees
Trustees are appointed according to the Articles of Association.
Organisational structure
The Chief Executive of the charity is Mr A Halpern, to whom day to day management of the charity has been delegated.
The Board of Trustees must, as per the governing document, have at least 4 trustees serving at anyone time.
The entire board meets on a regular basis, at least quarterly, or more if required.
Induction and training of new trustees
All new trustees are given, in the view of the board, sufficient training and have enough knowledge of their specific field to understand the nature of the charity and fully comply with the charities views of its progression.
New trustees undergo a briefing to ensure they are aware of both their legal and professional responsibilities under charity and company law.
Wider network
At present, Countypier Limited does not consider itself part of a wider network.
Related parties
Full details of the Related Party Transactions during the year ended 31 March 2022 can be found in Note 18 of the Financial Statements.
Risk management
The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived risks.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
01959412 (Not specified/Other)
Registered Charity number
295399
Registered office
5 North End Road Golders Green London NW11 7RJ
Page 2
Countypier Limited
Report of the Trustees for the Year Ended 31 March 2023
Trustees
A Halpern Mrs E Halpern Mrs C Klein L Lipschits (appointed 12.10.23)
Company Secretaries
Mrs E Halpern D Kesselman
Senior Statutory Auditor
Mr Adrian Heller FCA
Auditors
Martin+Heller Statutory Auditor 5 North End Road London NW11 7RJ
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Countypier Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
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there is no relevant audit information of which the charitable company's auditors are unaware; and
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the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
AUDITORS
The auditors, Martin+Heller, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................
A Halpern - Trustee
Page 3
Report of the Independent Auditors to the Members of Countypier Limited
Opinion
We have audited the financial statements of Countypier Limited (the 'charitable company') for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 18 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Page 4
Report of the Independent Auditors to the Members of Countypier Limited
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Page 5
Report of the Independent Auditors to the Members of Countypier Limited
Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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We assess compliance with applicable laws and regulations that could reasonably be expected to have a material effect on the financial statements. The key laws and regulations we have considered in this context included the Charities SORP (FRS 102). In addition, we have considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above. We discussed with management the extent of compliance with those laws and regulations as part of our audit procedures.
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We address the risk of fraud through management override of controls, by obtaining an understanding of internal control and by designing audit procedures that are appropriate and sufficient. We evaluated the appropriateness of accounting policies used and the reasonableness of accounting estimates and judgements made by management. We identified and assessed any significant transactions that are unusual or outside the normal course of business, and we incorporated testing of manual journal entries and corrections into our audit approach.
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Our audit procedures were designed to identify and assess risks of material misstatement in the financial statements, whether due to fraud or error. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve collusion, forgery, omissions, misrepresentations, or management override of controls. We communicated identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. The engagement partner considers the engagement team collectively had the appropriate competence and capabilities to identify or recognize non-compliance with laws and regulations.
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There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through collusion. Our responsibility is to conclude whether the financial statements represent the underlying financial position and activities of the charity and to ensure that the overall content and presentation of the financial statements gives a fair view.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Page 6
Report of the Independent Auditors to the Members of Countypier Limited
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Mr Adrian Heller FCA (Senior Statutory Auditor) for and on behalf of Martin+Heller Statutory Auditor 5 North End Road London NW11 7RJ Date: .............................................
Page 7
Countypier Limited
Statement of Financial Activities for the Year Ended 31 March 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Investment income 3 Total EXPENDITURE ON Raising funds 4 Charitable activities 5 Donations to Institutions Other Total Net gains on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31.3.23 Unrestricted fund £ 160,000 559,076 719,076 112,970 325,550 7,644 446,164 6 272,918 7,009,474 7,282,392 |
31.3.22 Total funds £ 300,000 558,886 |
|---|---|---|
| 858,886 | ||
| 94,857 263,500 7,623 |
||
| 365,980 | ||
| 35 | ||
| 492,941 6,516,533 |
||
| 7,009,474 |
The notes form part of these financial statements
Page 8
Countypier Limited
Balance Sheet 31 March 2023
| Notes FIXED ASSETS Investments Investments 11 Investment property 12 CURRENT ASSETS Debtors 13 Cash at bank CREDITORS Amounts falling due within one year 14 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 16 Unrestricted funds TOTAL FUNDS |
31.3.23 Unrestricted fund £ 393 7,250,000 7,250,393 51 98,244 98,295 (66,296) 31,999 7,282,392 7,282,392 7,282,392 7,282,392 |
31.3.22 Total funds £ 370 7,250,000 7,250,370 26 712,693 712,719 (953,615) (240,896) 7,009,474 7,009,474 7,009,474 7,009,474 |
|---|---|---|
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
.............................................
A Halpern - Trustee
The notes form part of these financial statements
Page 9
Countypier Limited
Cash Flow Statement for the Year Ended 31 March 2023
| Notes Cash flows from operating activities Cash generated from operations 1 Interest paid Net cash provided by operating activities Cash flows from investing activities Purchase of fixed asset investments Dividends received Net cash provided by investing activities Cash flows from financing activities Loan repayments in year Net cash used in financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
31.3.23 £ 288,084 (14,435) 273,649 (17) 43 26 (888,124) (888,124) (614,449) 712,693 98,244 |
31.3.22 £ 361,799 (22,637) 339,162 (9) 35 26 (77,554) (77,554) 261,634 451,059 712,693 |
|---|---|---|
The notes form part of these financial statements
Page 10
Countypier Limited
Notes to the Cash Flow Statement for the Year Ended 31 March 2023
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2.
| 31.3.23 | 31.3.22 | ||
|---|---|---|---|
| £ | £ | ||
| Net income for the reporting period (as per the Statement of Financial | |||
| Activities) | 272,918 | 492,941 | |
| Adjustments for: | |||
| Gain on investments | (6) | (35) | |
| Interest paid | 14,435 | 22,637 | |
| Dividends received | (43) | (35) | |
| Increase in debtors | (25) | (26) | |
| Increase/(decrease) in creditors | 805 | (153,683) | |
| Net cash provided by operations | 288,084 | 361,799 | |
| ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS | |||
| At 1/4/22 | Cash flow | At 31/3/23 | |
| £ | £ | £ | |
| Net cash | |||
| Cash at bank | 712,693 | (614,449) | 98,244 |
| 712,693 | (614,449) | 98,244 | |
| Debt | |||
| Debts falling due within 1 year | (888,124) | 888,124 | - |
| (888,124) | 888,124 | - | |
| Total | (175,431) | 273,675 | 98,244 |
The notes form part of these financial statements
Page 11
Countypier Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve. Investment properties are re-valued annually and included in the balance sheet at their open market value. No depreciation has been provided for in respect of investment properties. These properties are held for investment and the directors consider that the adoption of this policy is necessary to give a true and fair view.
2. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| Donations | 160,000 | 300,000 |
continued...
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Countypier Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
3. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| Rents received Dividends received |
31.3.23 £ 559,033 43 559,076 |
31.3.22 £ 558,851 35 |
| 558,886 |
4. RAISING FUNDS
Investment management costs
| Property repairs Legal and professional fees Rates & water Insurance Light & heat Sundries Communications Cleaning Management fee Interest payable and similar charges |
31.3.23 £ 33,895 1,965 1,046 5,448 9,657 188 795 3,541 42,000 14,435 112,970 |
31.3.22 £ 16,766 3,320 2,377 4,626 4,897 106 760 4,368 35,000 22,637 |
|---|---|---|
| 94,857 |
5. CHARITABLE ACTIVITIES COSTS
| Donations to Institutions 6. GRANTS PAYABLE Donations to Institutions The total grants paid to institutions during the year was as follows: Friends of Sanz Institutions Achisomoch Donations Under £10,000 Chevras Mo'oz Ladol Alexander Shtiebel Friends of Boyan Trust Beth Midrash Lemoroth Mifal Hachesed Vehatzedokoh Friends of Mercaz Hatorah Belz Macnivka Reb Shayale's Tzeduke |
Grant funding of activities (see note 6) £ 325,550 31.3.23 31.3.22 £ £ 325,550 263,500 31.3.23 31.3.22 £ £ 74,000 63,800 60,000 - 36,450 48,000 33,500 37,200 - 40,000 23,600 36,500 - 13,000 48,000 - 40,000 25,000 10,000 - 325,550 263,500 |
Grant funding of activities (see note 6) £ 325,550 31.3.23 31.3.22 £ £ 325,550 263,500 31.3.23 31.3.22 £ £ 74,000 63,800 60,000 - 36,450 48,000 33,500 37,200 - 40,000 23,600 36,500 - 13,000 48,000 - 40,000 25,000 10,000 - 325,550 263,500 |
|---|---|---|
| 31.3.22 £ 263,500 |
||
| 31.3.22 £ 63,800 - 48,000 37,200 40,000 36,500 13,000 - 25,000 - |
||
| 263,500 |
continued...
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Countypier Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
6. GRANTS PAYABLE - continued
7. SUPPORT COSTS
8.
| SUPPORT COSTS | |||
|---|---|---|---|
| Governance | |||
| Finance | costs | Totals | |
| £ | £ | £ | |
| Other resources expended | 444 | 7,200 | 7,644 |
| NET INCOME/(EXPENDITURE) | |||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 31.3.23 | 31.3.22 | ||
| £ | £ | ||
| Auditors' remuneration | 7,200 | 7,200 |
9. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Raising funds Charitable activities Donations to Institutions Other Total Net gains on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward |
Unrestricted fund £ 300,000 558,886 |
|---|---|
| 858,886 | |
| 94,857 263,500 7,623 |
|
| 365,980 | |
| 35 | |
| 492,941 6,516,533 |
continued...
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Countypier Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
| 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued TOTAL FUNDS CARRIED FORWARD 11. FIXED ASSET INVESTMENTS MARKET VALUE At 1 April 2022 Additions Revaluations At 31 March 2023 NET BOOK VALUE At 31 March 2023 At 31 March 2022 There were no investment assets outside the UK. Cost or valuation at 31 March 2023 is represented by: Valuation in 2019 Valuation in 2020 Valuation in 2021 Valuation in 2022 Valuation in 2023 Cost 12. INVESTMENT PROPERTY FAIR VALUE At 1 April 2022 and 31 March 2023 NET BOOK VALUE At 31 March 2023 At 31 March 2022 |
Unrestricted fund £ |
|
|---|---|---|
| 7,009,474 | ||
| Listed investments £ 370 17 6 393 393 370 Listed investments £ (230) (1,280) 81 35 6 1,781 393 £ 7,250,000 7,250,000 7,250,000 |
||
Page 15
continued...
Countypier Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
| 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 15) Rent deposit Accrued expenses 15. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans 16. MOVEMENT IN FUNDS At 1/4/22 £ Unrestricted funds General fund 7,009,474 TOTAL FUNDS 7,009,474 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 719,076 (446,164) TOTAL FUNDS 719,076 (446,164) |
31.3.23 £ 51 31.3.23 £ - 59,096 7,200 66,296 31.3.23 £ - Net movement in funds £ 272,918 272,918 Gains and losses £ 6 6 |
31.3.22 £ 26 31.3.22 £ 888,124 58,291 7,200 953,615 31.3.22 £ 888,124 At 31/3/23 £ 7,282,392 7,282,392 Movement in funds £ 272,918 272,918 |
|
|---|---|---|---|
Page 16
continued...
Countypier Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
16. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1/4/21 £ Unrestricted funds General fund 6,516,533 TOTAL FUNDS 6,516,533 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 858,886 (365,980) TOTAL FUNDS 858,886 (365,980) |
Net movement in funds £ 492,941 492,941 Gains and losses £ 35 35 |
At 31/3/22 £ 7,009,474 |
At 31/3/22 £ 7,009,474 |
|
|---|---|---|---|---|
| 7,009,474 | ||||
| Movement in funds £ 492,941 492,941 |
||||
| 492,941 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1/4/21 £ 6,516,533 6,516,533 |
Net movement in funds £ 765,859 765,859 |
At 31/3/23 £ 7,282,392 |
|---|---|---|---|
| 7,282,392 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 1,577,962 TOTAL FUNDS 1,577,962 |
Resources expended £ (812,144) (812,144) |
Gains and Movement losses in funds £ £ 41 765,859 41 765,859 |
Gains and Movement losses in funds £ £ 41 765,859 41 765,859 |
|---|---|---|---|
| 765,859 |
continued...
Page 17
Countypier Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
17. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
18. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES
In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
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Countypier Limited
Detailed Statement of Financial Activities for the Year Ended 31 March 2023
| Detailed Statement of Financial Activities for the Year Ended 31 March 2023 |
||
|---|---|---|
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 160,000 | 300,000 |
| Investment income | ||
| Rents received | 559,033 | 558,851 |
| Dividends received | 43 | 35 |
| 559,076 | 558,886 | |
| Total incoming resources | 719,076 | 858,886 |
| EXPENDITURE | ||
| Investment management costs | ||
| Property repairs | 33,895 | 16,766 |
| Legal and professional fees | 1,965 | 3,320 |
| Rates & water | 1,046 | 2,377 |
| Insurance | 5,448 | 4,626 |
| Light & heat | 9,657 | 4,897 |
| Sundries | 188 | 106 |
| Communications | 795 | 760 |
| Cleaning | 3,541 | 4,368 |
| Management fee | 42,000 | 35,000 |
| Bank loan interest | 14,435 | 22,637 |
| 112,970 | 94,857 | |
| Charitable activities | ||
| Grants to institutions | 325,550 | 263,500 |
| Support costs | ||
| Finance | ||
| Bank charges | 444 | 423 |
| Governance costs | ||
| Auditors' remuneration | 7,200 | 7,200 |
| Total resources expended | 446,164 | 365,980 |
| Net income | 272,912 | 492,906 |
This page does not form part of the statutory financial statements
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