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||Page|
|---|---|
|Reference and Administrative<br>Details ofthe Charity, its Trustee and Advisers||
|Trustee Report|2-8|
|Trustee Responsibilities<br>Statement||
|Independent<br>Auditors'<br>Report on the Financial Statements|10-13|
|Consolidated<br>Statement ofFinancial Activities|14-15|
|Consolidated<br>Balance Sheet|16-17|
|Charity Balance Sheet|18-19|
|Consolidated<br>Statement ofCash Flows|20|
|Notes to the Financial Statements|21 -51|





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|The directors|ofThe Co|mpany<br>are detailed<br>below:|mpany<br>are detailed<br>below:||||
|---|---|---|---|---|---|---|
|Directors||Edward<br>Bayntun-Coward,||Chair1, 2,4|||
|||Francesca Beauman,|Vice|Chairs, 4|||
|||Martin Clarkel|||||
|||Magdalen<br>Fisher2|||||
|||Sandra Forbes4|||||
|||Jeremy Garfield- Davies2|||||
|||Angela<br>Gillibrand1|||||
|||Sukie Hemming2|||||
|||Caroline<br>Howells|||||
|||Charlotte<br>Murphy|||||
|||Andrew Salmon|||||
|||Christopher<br>Stephens1,|2,4||||
|||Rohan Surana|||||
|||'|||||
|||Finance, Audit & Investment|||Committee||
|||~ Fundraising<br>Committee<br>' Learning<br>& Engagement||Advisory||Committee|
|||4 Nominations<br>Committee|||||
|Charity registered|||||||
|number||310288|||||
|Principal office||Great Pulteney Street|||||
|||Bathwick|||||
|||Bath|||||
|||BA2 4DB|||||
|Independent|auditors|Bishop Fleming<br>LLP|||||
|||Chartered<br>Accountants|||||
|||10Temple Back|||||
|||Bristol|||||
|||BS16FL|||||
|Bankers||CAF Bank|||||
|||PO Box289|||||
|||West Mailing|||||
|||Kent|||||
|||ME194TA|||||
|Solicitors||Stone King|||||
|||Upper Borough Court|||||
|||Upper Borough Walls|||||
|||Bath|||||
|||BA1 1RG|||||





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|||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|
|||funds|funds|funds|funds|funds|
|||2022|2022|2022|2022|2021|
||Note|||f.|||
|Income and|||||||
|endowments<br>from:|||||||
|Donations<br>and legacies||374,247|316,884|420,000|1,111,131|1,059,691|
|Charitable<br>activities||417,129|||41?,129|365,811|
|Other trading<br>activities||356,800|||356,800|232,116|
|Investments||1,394|||1,394|62|
|Other income||||||14,229|
|Total income and|||||||
|endowments||1,149,570|316,884|420,000|1,886,454|1,671,909|
|Expenditure<br>on:|||||||
|Raising funds|9,10|159,328||68,491|227,819|115,475|
|Charitable<br>activities|11|1,096,367|508,345||1,604,712|1,644,120|
|Total expenditure||1,255,695|508,345|68,491|1,832,531|1,759,595|
|Net|||||||
|(expenditure)/incom|||||||
|e before net|||||||
|(losses)/gains<br>on<br>investments||(106,125)|(191,461)|351,509|53,923|(87,686)|
|Net (losses)/gains<br>on<br>investments||||(370,239)|(370,239)|328,421|
|Net|||||||
|(expenditure)/incom<br>e||(106,125)|(191,461)|(18,730)|(316,316)|240,735|
|Transfers<br>between|||||||
|funds|22|(10,000)|10,000||||
|Net movement<br>In|||||||
|funds before other|||||||
|recognised<br>gains||(116,125)|(181,461)|(18,730)|(316,316)|240,735|
|Other recognised|||||||
|gains:|||||||
|Actuarial<br>gains on|||||||
|defined<br>benefit|||||||
|pension schemes|29|949,000|||949,000|211,000|
|Net movement<br>in|||||||
|funds||832,875|(181,461)|(18,730)|632,684|451,735|





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|||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|
|||funds|funds|funds|funds|funds|
|||2022|2022<br>F|2022<br>f|2022|2021|
|Reconciliation|of||||||
|funds:|||||||
|Total funds brought|||||||
|forward||691,549|8,526,203|3,309,438|12,527,'I 90|12,075,455|
|Net movement|in funds|832,875|(181,461)|(18,730)|632,684|451,735|
|Total funds carried|||||||
|forward||1,524,424|8,344,742|3,290,708|13,159,874|12,527,190|





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## 

|||Note||2022f||2021|
|---|---|---|---|---|---|---|
|Fixed assets|||||||
|Tangible assets||16||7,991,793||8,217,814|
|Heritage assets||17||827,000||817,000|
|Investments||18||4,075,603||4,094,333|
|||||12,894,396||13,129,147|
|Current assets|||||||
|Stocks||19|23,456||37,006||
|Debtors||20|386,010||118,285||
|Cash at bank and|in hand||191,028||474,647||
||||600,494||629,938||
|Creditors: amounts|falling due within one||||||
|year||21|(335,016)||(258,895)||
|Net current assets||||265,478||371,043|
|Total assets less|current liabilities|||13,159,874||13,500,190|
|Defined benefit pension scheme asset I|||||||
|liability||29||||(973,000)|
|Total net assets||||13,159,874||12,527,190|





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||||||2022||2021|
|---|---|---|---|---|---|---|---|
||||Note||||F|
|Fixed assets||||||||
|Tangible assets|||16||7,991,793||8,217,814|
|Heritage assets|||17||827,000||817,000|
|Investments|||18||4,075,703||4,094,433|
||||||12,894,496||13,129,247|
|Current assets||||||||
|Debtors|||20|504,351||231,865||
|Cash at bank and|in hand|||31,905||372,147||
|||||536,256||604,012||
|Creditors: amounts|falling due within one|||||||
|year|||21|(270,889)||(233,080)||
|Net current assets|||||265,367||370,932|
|Total assets less|current liabilities||||13,159,863||13,500,179|
|Net assets excluding<br>liability||pension asset I|||13,159,863||13,500,179|
|Defined benefit pension||scheme asset /||||||
|liability|||29||||(973,000)|
|Total net assets|||||13,159,863||12,527,179|





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||||||2022f|2021|
|---|---|---|---|---|---|---|
|Cash flows from operating||activities|||||
|Net cash|used<br>in operating|activities|||144,022|215,199|
|Cash flows from investing||activities|||||
|Dividends|and income from|investments|||1,394|62|
|Purchase|oftangible<br>fixed assets||||(9,035)||
|Purchase|of investments||||(420,000)|(722,500)|
|Net cash|used in investing|activities|||(427,641)|(722,438)|
|Cash flows from financing||activities|||||
|Net cash|provided<br>by financing<br>activities||||||
|Change|in cash and cash|equivalents|in|the year|(283,619)|(507,239)|
|Cash and|cash equivalents|at the beginning||ofthe year|474,647|981,886|
|Cash and cash equivalents||at the end|of|the year|191,028|474,647|
|The notes on pages 21 to 51 form part ofthese financial statements|||||||





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|Freehold<br>property|- 50years straight|- 50years straight|line||
|---|---|---|---|---|
|Leasehold<br>property|- over the period||ofthe|lease|
|Fixtures and fittings (pre-|- 20% reducing|balance|||
|development)|||||
|Fixtures and fittings (post-|- 15to 30years|straight||line|
|development)|||||



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||||Unrestricted|Restricted|Endowment|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
||||2021|2021|2021|2021|
||||F||||
|Donations|||||||
|General donations|||152,552|14,840||167,392|
|Raised from Patrons and||Friends|137,147|||137,147|
|University<br>contributions|||70,000|||70,000|
|Value ofHeritage|Assets|donated||56,000||56,000|
|Donations<br>to Endowment||Appeal|||35,000|35,000|
|Grants|||||||
|Covid support grants - Arts Council|||299,464|||299,464|
|Covid support grants - Bath City Council|||36,214|||36,214|
|General grants||||146,974||146,974|
|Total donations|&grants||695,377|217,814|35,000|948,191|
|Legacies|||111,500|||111,500|
|Total 2021|||806,877|217,814|35,000|1,059,691|



## 

## 

||||||Unrestricted|Total|
|---|---|---|---|---|---|---|
||||||funds|funds|
||||||2022|2022|
|||||||E|
|Museum|admissions||||383,608|383,608|
|Coronavirus||Job retention|Scheme||||
|Exhibition|costs recharged||||14,034|14,034|
|Learning|lectures, concerts, workshops|||etc.|19,487|19,487|
||||||417,129|417,129|





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|||||||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||funds|funds|funds|
|||||||||2021|2021|2021|
|||||||||F|E||
||Museum|admissions||||||317,320||317,320|
||Coronavirus||Job retention||Scheme||||7,781|7,781|
||Exhibition costs recharged|||||||35,974||35,974|
||Learning|lectures, concerts,||||workshops|etc.|4,736||4,736|
|||||||||358,030|7,781|365,811|
|6.|INCOME FROM OTHER||||TRADING ACTIVITIES||||||
||Income|from|fundraising||events||||||
|||||||||Unrestricted|Total|Total|
|||||||||funds|funds|funds|
|||||||||2022|2022|2021|
|||||||||||F|
||Plant sales|||||||1,890|1,890||
||Income|from|non charitable|||trading|activities||||
||||||||||Unrestricted|Total|
||||||||||funds|funds|
||||||||||2022|2022|
|||||||||||F|
||Museum|shop sales|||||||138,989|138,989|
||Income from||cafe and|car|parking||||100,277|100,277|
||Venue hire (including|||filming||fees)|||100,087|100,087|
||Other income||||||||15,557|15,557|
||||||||||354,910|354,910|





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||||Unrestricted|Total|
|---|---|---|---|---|
||||funds|funds|
||||2021|2021|
|||||F|
|Museum|shop sales||127,692|127,692|
|Income|from cafe and|car parking|67,108|67,108|
|Venue hire (including||filming fees)|36,532|36,532|
|Other income|||784|784|
||||232,116|232,116|



## 

|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2022|2022|
|||f.||
|Bank interest||1,394|1,394|
|||Unrestricted|Total|
|||funds|funds|
|||2021|2021|
|||E||
|Bank interest||62|62|
|OTHER|INCOMING RESOURCES|||
||||Total|
||||funds|
||||2022|
||||F|
|Museum|&Gallery Tax relief|||



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||||||Unrestricted|Total|
|---|---|---|---|---|---|---|
||||||funds|funds|
||||||2021|2021|
||||||F||
|Museum|8|Gallery|Tax|relief|14,229|14,229|



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|||||Unrestricted|Total|
|---|---|---|---|---|---|
|||||funds|funds|
|||||2022|2022|
|||||E||
|Salary|costs|||143,098|143,098|
|Other|costs|ofgenerating|funds|16,230|16,230|





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|||||Unrestricted|Total|
|---|---|---|---|---|---|
|||||funds|funds|
|||||2021|2021|
||||||E|
|Salary|costs|||43,996|43,996|
|Other|costs|ofgenerating|funds|22,341|22,341|



## 

||||Endowment|Total|
|---|---|---|---|---|
||||funds|funds|
||||2022|2022|
|Investment|management|fees|68,491|68,491|
||||Endowment|Total|
||||funds|funds|
||||2021|2021|
|||||F|
|Investment|management|fees|49138|49138|



|Endowment|Total|
|---|---|
|funds|funds|
|2021|2021|
||F|
|49,138|49,138|



## 

|||||||Unrestricted|Restricted||
|---|---|---|---|---|---|---|---|---|
|||||||funds|funds|Total|
|||||||2022|2022|2022|
|Museum|activities|(inc.|cost|ofshop|sales)|390,636|479,049|869,685|
|Learning|activities|||||222,107|29,296|251,403|
|Exhibition|activities|||||483,624||483,624|
|||||||1,096,367|508,345|1,604,712|





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|Summary|by fund|typ|e (co|ntinued)|||||
|---|---|---|---|---|---|---|---|---|
|||||||Unrestricted|Restricted||
|||||||funds|funds|Total|
|||||||2021|2021f|2021|
|Museum|activities|(inc.|cost|ofshop|sales)|690,503|298,451|988,954|
|Learning|activities|||||183,486|67,068|250,554|
|Exhibition|activities|||||404,612||404,612|
|||||||1,278,601|365,519|1,644,120|



## 

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|||||||Activities|||
|---|---|---|---|---|---|---|---|---|
|||||||undertaken|Support|Total|
|||||||directly|costs|funds|
|||||||2022|2022f|2022f|
|Museum|activities|(inc.|cost|ofshop|sales)|643,979|225,706|869,685|
|Learning|activities|||||87,402|164,001|251,403|
|Exhibition|activities|||||188,424|295,200|483,624|
|||||||919,805|684,907|1,604,712|



|||||||Activities|||
|---|---|---|---|---|---|---|---|---|
|||||||undertaken|Support|Total|
|||||||directly|costs|funds|
|||||||2021|2021|2021|
||||||||F||
|Museum|activities|(inc.|cost|ofshop|sales)|826,668|162,286|988,954|
|Learning|activities|||||126,608|123,946|250,554|
|Exhibition|activities|||||181,509|223,103|404,612|
|||||||1,134,785|509,335|1,644,120|





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||||INuseum|Education|Exhibition|Total|
|---|---|---|---|---|---|---|
||||Activities|Activities|Activities|funds|
||||2022<br>f|2022|2022<br>F|2022<br>f.|
|Staff costs|||37,413|31,177|56,119|124,709|
|Premises|||94,682|67,148|120,865|282,695|
|Other administrative||costs|78,811|65,676|118,216|262,703|
|Governance|costs||14,800|||14,800|
||||225,706|164,001|295,200|684,907|
||||Museum|Education|Exhibition|Total|
||||Activities|Activities|Activities|funds|
||||2021|2021|2021|2021|
|Staff costs|||38,596|32,163|57,894|128,653|
|Premises|||73,485|67,891|122,204|263,580|
|Other administrative||costs|36,655|23,892|43,005|103,552|
|Governance|costs||13,550|||13,550|
||||162,286|123,946|223,103|509,335|



## 

||||||2022f|2021<br>F|
|---|---|---|---|---|---|---|
|Fees payable to the|Charity's|auditor|for the audit ofthe Charity's|annual|||
|accounts|||||11,750|11,600|
|Fees payable to the|Charity's|auditor|in respect of:||||
|Taxation compliance|services||||?00|1,100|





## 

## 

|STAFF CO|STS||||||
|---|---|---|---|---|---|---|
||||Group|Group|Charity|Charity|
||||2022|2021|2022|2021|
||||||f.|F|
|Wages and salaries|||534,453|487,083|534,453|487,083|
|Social security costs|||58,620|46,689|58,620|46,689|
|Contribution|to pension schemes||17,822|12,126|17,822|12,126|
|Operating<br>schemes|costs ofdefined|benefit pension|17,000|18,000|17,000|18,000|
||||627,895|563,898|627,895|563,898|
|The average number of persons employed|||by the Charity during|the year was as follows:|||
||||Group|Group|Charity|Charity|
||||2022|2021|2022|2021|
||||No.|No.|No.|No.|
|Full time employees|||15|15|15|15|
|Part time employees|||5|5|5|5|
||||20|20|20|20|



|Group|Group|
|---|---|
|2022|2021|
|No.|No.|
|1|1|



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||||||||Heritage|
|---|---|---|---|---|---|---|---|
||||||||assets|
||||||||2022f|
|Carrying|value at 1 January 2022||||||817,000|
|Additions|||||||10,000|
|Carrying|value|at 31 December 2022|||||827,000|
|Analysis|ofheritage asset transactions|||||||
|Group and Charity||||||||
||||2022|2021|2020|2019|Pre 2019|
|||||E|E|E||
|Purchases||||||||
|Cabinet|||||||250,000|
|Bead basket|||||||78,000|
|Atherley|portrait||||||420,000|
|Ivory fan|||||||5,000|
|Various|etchings|||||8,000||
|Portraits|ofthe Burges Family||10,000|||||
|Donations||||||||
|Pablo Bronstein||inks x2||40,000||||
|Walter Sickert painting||||16,000||||
|Total additions|||10,000|56,000||8,000|753,000|





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|||Investments|||
|---|---|---|---|---|
|||in|||
|||subsidiary|Listed||
|||companies|investments|Total|
|Charity||E|F||
|Cost or valuation|||||
|At 1 January|2022|100|4,094,333|4,094,433|
|Additions|||420,000|420,000|
|Revaluations|||(370,239)|(370,239)|
|Management|fees||(68,491)|(68,491)|
|At 31 December 2022||100|4,075,603|4,075,703|



## 

|The follow|ing was|a subsidiary|undertaking<br>oft|he Charity:|||||
|---|---|---|---|---|---|---|---|---|
|Name|||Company|Registered|office or principal|Principal|activity||
||||number|place ofbusiness|||||
|Holbume|Trading|Company|06954139|Great Pulteney Street, Bath, BA2||Operation|of|the|
|Limited||||4DB||commercial||activities|
|||||||at The Holburne|||
|||||||Museum|||
|Class of|Holding||||||||
|shares|||||||||
|Ordinary||100'/o|||||||



|Name||||Income|Expendituref|Profit for<br>the year|Net assetsf|
|---|---|---|---|---|---|---|---|
|||||||E||
|Holburne|Trading|Company|Limited|753,374|563,192|190,182||





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||||Group|Group|
|---|---|---|---|---|
||||2022f|2021f|
|Goods|for|resale|23,456|37,006|



## 

|||Group|Group|Charity|Charity|
|---|---|---|---|---|---|
|||2022|2021f|2022f|2021f|
|Due within one year||||||
|Trade debtors||85,813|15,290|55,890|1,176|
|Amounts<br>owed by group undertakings||||215,279|154,636|
|Other debtors||108,872|60,601|99,333|57,796|
|Prepayments|and accrued income|164,595|29,385|133,849|18,257|
|Tax recoverable||26,?30|13,009|||
|||386,010|118,285|504,351|231,865|



## 

## 

|||Group|Group|Charity|Charity|
|---|---|---|---|---|---|
|||2022f|2021f|2022f|2021f|
|Trade creditors||167,821|218,143|162,080|206,714|
|Other taxation and social security||71,996|8,612|21,880||
|Other creditors||11,170||11,170||
|Accruals and deferred|income|84,029|32,140|75,759|26,366|
|||335,016|258,895|270,889|233,080|





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## 

||||||||Balance at|
|---|---|---|---|---|---|---|---|
|||Balance at 1|||||31|
|||January|||Transfers|Gains/|December|
|||2022f|Income<br>f|Expenditure<br>f|in/outf|(Losses)f|2022|
|Unrestricted||||||||
|funds||||||||
|General funds-||||||||
|charity||691,538|396,196|(502,321)|(10,000)|949,000|1,524,413|
|General funds-||||||||
|Holbume||||||||
|Trading||||||||
|Company||11|753,374|(753,374)||||
|||691,549|1,149,570|(1,255,695)|(10,000)|949,000|1,524,424|
|Endowment||||||||
|funds||||||||
|Endowment|fund|3,309,438|420,000|(68,491)||(370,239)|3,290,708|
|Restricted||||||||
|funds||||||||
|The Holburne||||||||
|Museum||||||||
|development||||||||
|project||7,535,311||(176,232)|||7,359,079|
|Heritage assets||||||||
|funds||817,000|||10,000||827,000|
|National<br>Lottery||||||||
|Comm Fund:||||||||
|Pathways||76,256||(72,444)|||3,812|
|Pathways<br>3||35,000|35,000|(29,496)|||40,504|
|Funds for other||||||||
|learning||||||||
|projects||6,500|7,000|(11,549)|||1,951|
|Ellerman<br>Found||||||||
|/ Traverse||||||||
|Trust - Curator||||||||
|funding||21 333||(21,333)||||
|Clore||17,200||(17,122)|||78|
|Conservation||14,103||(2,796)|||11,307|
|Stum pwork||3,500|3,000|(6,500)||||
|Alberta Whittle|||35,000|(3,398)|||31,602|
|Hockney|||60,172|(60,172)||||
|Mick Peter|||11,463|(11,463)||||





## 

## 

## 

## 

|STATEMENT O|F FUNDS - CURR|ENT YEAR|(continued)||||
|---|---|---|---|---|---|---|
|||||||Balance at|
||Balance at 1|||||31|
||January|||Transfers|Gains/|December|
||2022|Income|Expenditure|in/out|(Losses)|2022|
||E|E|||f.|E|
|Tudors||15,000|(15,000)||||
|Nalini Malani||42,000|(42,000)||||
|Impressionist<br>Sculpture||33,113|(23,616)|||9,497|
|Funding<br>for|||||||
|other|||||||
|Exhibitions||12,000|(10,585)|||1,415|
|Lighting<br>project||20,000||||20,000|
|Volunteers||3,000|(3,000)||||
|Re-imagine||40,136|(1,639)|||38,497|
||8,526,203|316,884|(508,345)|10,000||8,344,742|
|Total offunds|12,527,190|1,886,454|(1,832,531)||578,761|13,159,874|





## 



## 

## 

## 

## 

||||||||Balance at|
|---|---|---|---|---|---|---|---|
|||Balance at|||||31|
|||1 January|||Transfers|Gains/|December|
|||2021|Income|Expenditure|in/out|(Losses)|2021|
|||F|F||||F|
|Unrestricted||||||||
|funds||||||||
|General funds-||||||||
|charity||735,156|917,800|(851,323)|592,000|(702,095)|691,538|
|General funds-||||||||
|Holburne||||||||
|Trading||||||||
|Company||111|599,785|(599,885)||||
|||735,267|1,517,585|(1,451,208)|592,000|(702,095)|691,549|
|Endowment||||||||
|funds||||||||
|Endowment|fund|2,346,060|363,421|(320,043)|920,000||3,309,438|
|Restricted||||||||
|funds||||||||
|The Holburne||||||||
|Museum||||||||
|development<br>project||7,762,?48||(227,437)|||7,535,311|
|Heritage assets<br>funds||761,000|56,000||||817,000|
|National<br>Lottery||||||||
|Comm Fund:||||||||
|Pathways||67,327|75,997|(67,068)|||76,256|
|Pathways<br>3|||41,500||||41,500|
|Funds for other||||||||
|learning<br>projects||19,331|29,477|(27,475)|||21,333|
|Ellerman<br>Found||||||||
|/ Traverse||||||||
|Trust - Curator||||||||
|funding||20,000||(2,800)|||17,200|
|Clore||9,263|4,840||||14,103|
|Conservation||3,500|||||3,500|
|Neighbourhood||||||||
|Postcode||||||||
|Lottery||9,959||(9,959)||||
|Cayzer Trust||8,000||(8,000)||||





## 

## 

## 

||||||||Balance at|
|---|---|---|---|---|---|---|---|
|||Balance at|||||31|
|||1 January|||Transfers|Gains/|December|
|||2021|Income|Expenditure|in/out|(Losses)|2021|
|||F|F|F||F|E|
|Funding<br>for||||||||
|Exhibitions||5,000||(5,000}||||
|Other Funds|||10,000|(10,000)||||
|Coronavirus|Job|||||||
|Retention||||||||
|Scheme||||||||
|funding|||7,781|(7,781)||||
|Nalini Malani||||||||
|Impressionist||||||||
|Sculpture||||||||
|Funding<br>for||||||||
|other||||||||
|Exhibitions||||||||
|Lighting<br>project||||||||
|Volunteers||||||||
|Re-imagine||||||||
|||8,666,128|225,595|(365,520)|||8,526,203|
|Total offunds||"",747,455|2,106,601|(2,136,771)|1,512,000|(702,095}|12,527,190|



## 

||||||||Balance at|
|---|---|---|---|---|---|---|---|
|||Balance at 1|||||31|
|||January|||Transfers|Gains/|December|
|||2022|Income|Expenditure|in/out|(Losses)|2022|
|||||E|f.|||
|General funds||691,549|1,149,570|(1,255,695)|(10,000)|949,000|1,524,424|
|Endowment||||||||
|funds||3,309,438|420,000|(68,491)||(370,239)|3,290,708|
|Restricted|funds|8,526,203|316,884|(508,345)|10,000||8,344,742|
|||12,527,190|1,886,454|(1,832,531)||578,761|13,159,874|





## 

## 

## 

## 

## 

||||||||Balance at|
|---|---|---|---|---|---|---|---|
|||Balance at|||||31|
|||1 January|||Transfers|Gains/|December|
|||2021|Income|Expenditure|in/out|(Losses)|2021|
||||||||E|
|General|funds|735,267|1,517,585|(1,451,208)|592,000|(702,095)|691,549|
|Endowment||||||||
|funds||2,346,060|363,421|(320,043)|920,000||3,309,438|
|Restricted funds||8,666,128|225,595|(365,520)|||8,526,203|
|||11,747,455|2,106,601|(2,136,771)|1,512,000|(702,095)|12,527,190|



## 

## 

## 

|||Unrestricted|Restricted|Endowment|Total|
|---|---|---|---|---|---|
|||funds|funds|funds|funds|
|||2022|2022|2022|2022|
|||f.||E|E|
|Tangible|fixed assets|474,051|7,517,742||'7,991,793|
|Fixed asset investments||784,895||3,290,708|4,075,603|
|Heritage|assets||827,000||827,000|
|Current|assets|600,494|||600,494|
|Creditors|due within one year|(335,016)|||(335,016)|
|Total||1,524,424|8,344,742|3,290,708|13,159,874|



## 

|||Unrestricted|Restricted|Endowment|Total|
|---|---|---|---|---|---|
|||funds|funds|funds|funds|
|||2021|2021|2021|2021|
||||F|f.||
|Tangible|fixed assets|682,503|7,535,311||8,217,814|
|Fixed asset investments||784,895||3,309,438|4,094,333|
|Heritage assets|||817,000||817,000|
|Current assets||222,966|406,972||629,938|
|Creditors|due within one year|(25,815)|(233,080)||(258,895)|
|Provisions|for liabilities and charges|(973,000)|||(973,000)|
|Total||691,549|8,526,203|3,309,438|12,527,190|





## 

## 

## 

## 

## 

||||2022|2021|
|---|---|---|---|---|
|||||F|
|At 1 January|||3,309,438|2,346,060|
|Amounts<br>donated/transferred||in|420,000|955,000|
|Investment<br>management|costs||(68,491)|(49,138)|
|Gains/(losses)<br>on investment|||(370,239)|328,421|
|Transfer to income||||(270,905)|
|At 31 December|||3,290,708|3,309,438|



## 

## 

||||||||||Group|Group|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||2022|2021|
||||||||||f.||
|Net<br>income/expenditure|for|the|year|(as|per|Statement||of Financial|||
|Activities)|||||||||(316,316)|240,735|
|Adjustments<br>for:|||||||||||
|Depreciation<br>charges|||||||||235,056|235,421|
|Heritage assets donated|||||||||(10,000)|(56,000)|
|Gains/(losses)<br>on investments|||||||||370,239|(328,421)|
|Investment<br>management|costs||||||||68,491|49,138|
|Dividends<br>and income from investments|||||||||(1,394)|(62)|
|Decrease/(increase)<br>in|stocks||||||||13,550|(8,781)|
|Decrease/(increase)<br>in debtors|||||||||(267,725)|3,925|
|Increase<br>in creditors|||||||||76,121|79,244|
|Defined benefit pension|scheme cost less contributions||||||payable||(43,000)||
|Defined benefit pension|scheme finance cost||||||||19,000||
|Net cash provided<br>by operating|||activities||||||144,022|215,199|





## 

## 

## 

|||Group|Group|
|---|---|---|---|
|||2022|2021|
|||E.||
|Cash|in hand|191,028|474,647|
|Total|cash and cash equivalents|191,028|474,647|



## 

|||||||At 1||At 31|
|---|---|---|---|---|---|---|---|---|
|||||||January||December|
|||||||2022|Cash flows|2022|
|||||||f|E|E|
|Cash|at|bank|and|in|hand|474,647|(283,619)|191,028|
|||||||474,647|(283,619)|191,028|



## 

|Principal<br>actuarial<br>assumptions<br>at the Balance Shee|t date (expressed as weighted<br>averages):||
|---|---|---|
||At 31|At 31|
||December|December|
||2022|2021|
|Discount rate|4.80|1.95|
|Future salary increases|2.65|2.85|
|Future pension increases|2.65|2.85|
|Inflation assumption|2.65|2.85|





## 

## 

## 

||At 31|At 31|
|---|---|---|
||December|December|
||2022|2021|
||Years|Years|
|MORTALITY RATES (IN YEARS)|||
|-for a male aged 65 now|23.4|23.3|
|-at 65for a male aged 45 now|24.9|24.8|
|-for a female aged 65 now|25.5|24.5|
|-at 65for a female aged 45 now|27.5|27.4|



|The Group's|share ofthe assets<br>in the scheme was:|||
|---|---|---|---|
|||At 31|At 31|
|||December|December|
|||2022f|2021f|
|Equities|||569,000|
|Government|bonds||146,000|
|Other bonds|||104,000|
|Property|||86,000|
|Cash and other liquid assets|||30,000|
|Other||1,414,000|391,000|
|Total fair value ofassets||1,414,000|1,326,000|



|The amounts<br>recognise|d<br>i|n th|e Consolidated<br>St|atement<br>of Financial Activities|are as follows:||
|---|---|---|---|---|---|---|
||||||2022f|2021|
|Current service cost|||||17,000|17,000|
|Past service cost||||||1,000|
|Net interest on defined|benefit||liability||(26,000)|16,000|
|Interest cost|||||45,000|33,000|
|Total amount recognised||in|the Consolidated|Statement of Financial|||
|Activities|||||36,000|67,000|





## 

## 

## 

|Movements<br>in th|e present value ofthe defined<br>benefit obligation<br>were as follows:||
|---|---|---|
|||2022f|
|Opening<br>defined|benefit obligation|2,299„000|
|Current service|cost|17,000|
|Interest cost||45,000|
|Actuarial<br>gains||(931,000)|
|Benefits paid||(18,000)|
|Contributions<br>by|scheme participants|2,000|
|Closing defined|benefit obligation|1,414,000|
|Movements<br>in the fair value ofthe Group's share ofscheme assets were as follows:|||
|||2022|
|||f.|
|Opening<br>fair value ofscheme assets||1,326,000|
|Expected return|on assets|26,000|
|Actuarial<br>gains||18,000|
|Contributions<br>by|employer|60,000|
|Contributions<br>by|employer|2,000|
|Benefits paid||(18,000)|
|Closing fair value of scheme assets||1,414,000|



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