| Page | |||||
|---|---|---|---|---|---|
| Reference and administrative | details ofthe charitable | company, | its Council members | 1 | |
| and advisers | |||||
| Council members' report |
2-6 | ||||
| Independent auditors' |
report | on the financial statements | 7-10 | ||
| Statement offinancial | activities | ||||
| Balance sheet | 12 | ||||
| Notes to the financial | statements, | l3-23 |
| Council members | Council members | Council members | The Earl of Crawford | The Earl of Crawford | and | Balcarres |
|---|---|---|---|---|---|---|
| N J Barker | ||||||
| The Hon RJ E Elliott | ||||||
| S P Weil | ||||||
| The Earl ofWoolton | ||||||
| Dr W Zachs | ||||||
| Company | registered | |||||
| number | 02101229 | |||||
| Charity registered | ||||||
| numbers | 296766 and SC039480 | |||||
| Registered | office | 50 Broadway | ||||
| Westminster | ||||||
| London | ||||||
| SW1H OBL | ||||||
| Company | secretary | Broadway Secretaries | Limited | |||
| Independent | auditors | EQ Audit Services LLP | ||||
| Chartered Accountants |
||||||
| 14 City Quay | ||||||
| Dundee | ||||||
| DD1 3JA | ||||||
| Bankers | Royal Bank ofScotland | |||||
| 23/25 Rosslyn Street | ||||||
| Kirkcaldy | ||||||
| Fife | ||||||
| KY1 3HW | ||||||
| Solicitors | Charles Russell | Speechlys | ||||
| 5 Fleet Place | ||||||
| London | ||||||
| EC4M 7RD | ||||||
| Investment | Managers | James Hambro | 8 Partners | LLP | ||
| 45 Pall Mall | ||||||
| London | ||||||
| SW1Y5JG |
| Endowment | Unrestricted | Total | Total | ||||
|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | ||||
| 2023 | 2023 | 2023 | 2022 | ||||
| F | |||||||
| Income and endowments | from: | ||||||
| Charitable activities: |
|||||||
| Visitor income | 58,379 | 58,379 | 32,834 | ||||
| Investments | 175,658 | 175,658 | 151,729 | ||||
| Other income | 18,632 | 18,632 | 14,663 | ||||
| Total income and | endowments | 252,669 | 252,669 | 199,226 | |||
| Expenditure on: |
|||||||
| Raising funds | 41,530 | 128,422 | 169,952 | 52,567 | |||
| Charitable activities |
263,027 | 263,027 | 193,422 | ||||
| Total expenditure | 41,530 | 391,449 | 432,979 | 245,989 | |||
| Net expenditure before net |
|||||||
| (losses)/gains on |
investments | (41,530) | (138,780) | (180,310) | (46,763) | ||
| Net (losses)/gains | on investments | (133,893) | (156,661) | (290,554) | 320,778 | ||
| Net movement in |
funds before other | ||||||
| recognised gains |
(175,423) | (295,441) | (470,864) | 274,015 | |||
| Other recognised | gains: | ||||||
| Gains on revaluation | offixed assets | 4,243 | 4,243 | ||||
| Net movement in |
funds | (175,423) | (291,198) | (466,621) | 274,015 | ||
| Reconciliation of |
funds: | ||||||
| Total funds brought | forward | 6,841,652 | 748,681 | 7,590,333 | 7,316,318 | ||
| Net movement in funds |
(175,423) | (291,198) | (466,621) | 274,015 | |||
| Total funds carried | forward | 6,666,229 | 457,483 | 7,123,712 | 7,590,333 |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| E | ||||||
| Fixed assets | ||||||
| Tangible assets | 9 | 339,404 | 343,194 | |||
| Heritage assets | 10 | 109,362 | 109,362 | |||
| Investments | 11 | 6,666,229 | 7,132,430 | |||
| 7,114,995 | 7,584,986 | |||||
| Current assets | ||||||
| Debtors | 12 | 43,743 | 36,637 | |||
| Cash at bank and | in hand | 9,696 | 2,967 | |||
| 53,439 | 39,604 | |||||
| Creditors: amounts | falling due within one | |||||
| year | 13 | (44,722) | (34,257) | |||
| Net current assets | 8,717 | 5,347 | ||||
| Total assets less | current liabilities | 7,123,712 | 7,590,333 | |||
| Total net assets | 7,123,712 | 7,590,333 | ||||
| Charity funds | ||||||
| Endowment funds |
6,666,229 | 6,841,652 | ||||
| Restricted funds | ||||||
| Unrestricted funds |
457,483 | 748,681 | ||||
| Total funds | 7,123,712 | 7,590,333 |
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2023f | 2023 F |
|
| Rent and service charge income | 65,230 | 65,230 |
| UK listed investments | 57,098 | 57,098 |
| Foreign listed investments | 53,330 | 53,330 |
| 175,658 | 175,658 | |
| Unrestricted | Total | |
| funds | funds | |
| 2022f | 2022 | |
| Rent and service charge income | 66,026 | 66,026 |
| UK listed investments | 38,006 | 38,006 |
| Foreign listed investments | 47,697 | 47,697 |
| 151,729 | 151,729 |
| Unrestricted | Total | |||
|---|---|---|---|---|
| funds | funds | |||
| 2023f | 2023 F |
|||
| Single | farm payment | 14,919 | 14,919 | |
| Income | associated | with British Open | 3,713 | 3,713 |
| 18,632 | 18,632 | |||
| Unrestricted | Total | |||
| funds | funds | |||
| 2022f | 2022f | |||
| Single | farm'payment | 14,663 | 14,663 |
| Investment management |
Investment management |
fees |
|---|---|---|
| Rental property | insurance | |
| Rental property | repairs |
| Investment management |
Investment management |
fees |
|---|---|---|
| Rental property | insurance | |
| Rental property | repairs |
| Endowment | Unrestricted | Total |
|---|---|---|
| funds | funds | funds |
| 2023 | 2023 | 2023 |
| F | F | F |
| 41,530 | 41,530 | |
| 4,507 | 4,507 | |
| 123,853 | 123,853 | |
| 41,530 | 128,360 | 169,890 |
| Endowment | Unrestricted | Total |
| funds | funds | funds |
| 2022 | 2022 | 2022 |
| 44,244 | 44,244 | |
| 1,364 | 1,364 | |
| 6,959 | 6,959 | |
| 44,244 | 8,323 | 52,567 |
| Activities | ||
|---|---|---|
| undertaken | Support | Total |
| directly | costs | funds |
| 2023 | 2023 | 2023 |
| F | F | F |
| 192,787 | 70,240 | 263,027 |
| Activities | ||
| undertaken | Total | |
| directly | Support costs | funds |
| 2022 | 2022 | 2022 |
| E | E | |
| 137,919 | 55,503 | 193,422 |
| Heritage | Total | ||||
|---|---|---|---|---|---|
| activities | funds | ||||
| 2023 | 2023 | ||||
| E | E | ||||
| Depreciation | 33,181 | 33,181 | |||
| Property | heat and light | 29,679 | 29,679 | ||
| Property | insurance | 26,176 | 26,176 | ||
| Property | repairs and maintenance | 51,981 | 51,981 | ||
| Sundry | expenses | 16,530 | 16,530 | ||
| Garden | vehicle 8 machinery | repairs | 1,533 | 1,533 | |
| Other garden | expenses | 9,396 | 9,396 | ||
| Council | tax | 1,691 | 1,691 | ||
| Conservation | and restoration | 2,400 | 2,400 | ||
| Governance | costs | 20,220 | 20,220 | ||
| 192,787 | 192,787 | ||||
| Heritage | Totai | ||||
| activities | funds | ||||
| 2022 | 2022 | ||||
| Depreciation | 25,953 | 25,953 | |||
| Property | heat | and light | 17,574 | 17,574 | |
| Property | insurance | 22,427 | 22,427 | ||
| Property | repairs and maintenance | 17,272 | 17,272 | ||
| Sundry | expenses | 4,680 | 4,680 | ||
| Garden | vehicle 8 machinery | repairs | 416 | 416 | |
| Other garden | expenses | 7,397 | 7,397 | ||
| Council | tax | 1,898 | 1,898 | ||
| Conservation | and restoration | 7,848 | 7,848 | ||
| Governance | costs | 32,454 | 32,454 | ||
| 137,919 | i37,919 |
| FOR | THE YEAR E | NDED 5 A | PRIL 2023 | |||
|---|---|---|---|---|---|---|
| 7. | Staff costs | |||||
| 2023 | 2022 | |||||
| E | ||||||
| Wages and | salaries | 68,012 | 52,557 | |||
| Contribution | to defined | contribution | pension schemes | 1,488 | 1,997 | |
| 69,500 | 54,554 |
| 2023 | 2022 |
|---|---|
| No. | No. |
| 8. | Auditors' remuneration |
|||||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| Fees payable to the charitable | company's | auditor | for the audit ofthe | |||
| charitable company's annual |
accounts | 6,600 | 6,300 | |||
| Fees payable to the charitable | company's | auditor | in respect of: | |||
| All non-audit services not included above |
6,600 | 6,300 |
| Long-term | |||||
|---|---|---|---|---|---|
| Freehold | leasehold | Plant and | Motor | ||
| property E |
property | machinery f |
vehicles F |
Total E |
|
| Cost or valuation | |||||
| At 6 April 2022 | 234,158 | 554,918 | 3&,751 | 34,005 | 861,832 |
| Additions | 29,948 | 29,948 | |||
| Disposals | (9,900) | (9,900) | |||
| At 5April 2023 | 234,158 | 554,918 | 3&,751 | 54,053 | 881,880 |
| Depreciation | |||||
| At 6 April 2022 | 127,827 | 326,186 | 32,031 | 32,594 | 518,638 |
| Charge for the year | 7,320 | 16,480 | 1,680 | 7,701 | 33,181 |
| On disposals | (9,343) | (9,343) | |||
| At 5 April 2023 | 135,147 | 342,666 | 33,711 | 30,952 | 542,476 |
| Net book value | |||||
| At 5 April 2023 | 99,011 | 212,252 | 5,040 | 23,101 | 339,404 |
| At 5April 2022 | 106,331 | 228,732 | 6,720 | 1,411 | 343,194 |
| Assets at | ||||||
|---|---|---|---|---|---|---|
| Balcarres | ||||||
| Estate | Total | |||||
| 2023f | 2023f | |||||
| Carrying | value at 6 April 2022 8 5 April 2023 | 109,362 | 109,362 | |||
| 109,362 | 109,362 | |||||
| Analysis | of heritage asset transactions | |||||
| 2023 | 2022 | 2021 | 2020 | 2019 | ||
| E | E | |||||
| Purchases | ||||||
| Heritage | Assets | 500 | 5,500 |
| Listed | Investment | ||||
|---|---|---|---|---|---|
| investments | cash | Total | |||
| F | F | F | |||
| Cost or valuation | |||||
| At 6 April 2022 | 6,740,161 | 392,269 | 7,132,430 | ||
| Additions | 2,176,541 | 118,142 | 2,294,683 | ||
| Disposals | (2,188,728) | (281,602) | (2,470,330) | ||
| Revaluations | (290,554) | (290,554) | |||
| At 5 April 2023 | 6,437,420 | 228,809 | 6,666,229 | ||
| 12. | Debtors | ||||
| 2023 | 2022 | ||||
| Due within one year | |||||
| Other debtors | 17,332 | 12,859 | |||
| Prepayments | and accrued income | 26,411 | 23,778 | ||
| 43,743 | 36,637 |
| 13. | Creditors: Amounts | Creditors: Amounts | falling due within one year | ||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| F. | |||||
| Trade creditors | 18,567 | 9,396 | |||
| Other taxation | and social security | 1,911 | 342 | ||
| Accruals and deferred | income | 24,244 | 24,519 | ||
| 44,722 | 34,257 |
| Summary |
offunds - curr | ent year | ||||
|---|---|---|---|---|---|---|
| Balance at 6 | Gains/ | Balance at 5 | ||||
| April 2022 f |
Income f |
Expenditure | (Losses) f |
April 2023 f |
||
| General funds | 748,681 | 252,669 | (391,449) | (152,41&) | 457,483 | |
| Endowment | funds | 6,841,652 | (41,530) | (133,893) | 6,666,229 | |
| 7,590,333 | 252,669 | (432,979) | (286,311) | 7,123,712 |
| Summary |
offunds - prio | r year | ||||
|---|---|---|---|---|---|---|
| Balance at | ' Gainsi | Balance at | ||||
| 6April 2021 | Income | Expenditure | (Losses) | 5April 2022 f |
||
| General funds | 668,439 | 199,226 | (201,745) | 82,761 | 748,681 | |
| Endowment | funds | 6,647,879 | (44,244) | 238,0I7 | 6,841,652 | |
| 7,316,318 | 199,226 | (245,989) | 320,778 | 7,590,333 |
| Analysis ofnet assets between funds - curr | ent year | ||
|---|---|---|---|
| Endowment | Unrestricted | Total | |
| funds | furids | funds | |
| 2023 f |
2023 f |
2023f | |
| Tangible fixed assets | 339,404 | 339,404 | |
| Fixed asset investments | 6,666,229 | 6,666,229 | |
| Heritage assets | 109,362 | 109,362 | |
| Current assets | 53,439 | 53,439 | |
| Creditors due within one year | (44,722) | (44,722) | |
| Total | 6,666,229 | 457,483 | 7,123,712 |
| Endowment | Unrestricted | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 | 2022 | 2022 | |
| E | |||
| Tangible fixed assets | 343,194 | 343,194 | |
| Fixed asset investments | 6,841,652 | 290,778 | 7,132,430 |
| Heritage assets | 109,362 | 109,362 | |
| Current assets | 39,604 | 39,604 | |
| Creditors due within one year | (34,257) | (34,257) | |
| Tl | 6,841,652 | 748,681 | 7,590,333 |