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|||Page No|
|---|---|---|
|Report ofthe Trustees||1-8|
|Auditor's
Report||9-11|
|Statement of Financial|Activities|12|
|Balance Sheet||13|
|Notes to the Accounts||14-24|
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|Balance Sheet
31March 2022|||||
|---|---|---|---|---|
|||Notes|2022|2021|
||||f|B|
|Fixed assets|||||
|Tangible assets|||421|495|
|Investments|||4,971,738|4,967,203|
||||4,972,159|4,967,698|
|Current assets|||||
|Cash at bank and|in|hand|43,776|41,779|
||||43,776|41,779|
|Creditors: amounts||falling due within|||
|one year||6|(191,375)|(195,875)|
|Net current liabilities|||(147,599)|(154,096)|
|Total assets less current liabilities|||4,824,560|4,813,602|
|Creditors: amounts|falling due after more||||
|than one year||7|(509,148)|(670,681)|
|Net assets|||4 315412|4 142921|
|Funds|||||
|Endowment
Fund||10|1,500,000|1,500,000|
|Designated
Funds||10|850||
|Income Fund||16|2614562|2642921|
||||4 315412|4 142921|
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|e|nded 31March 2022|nded 31March 2022||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|2|Investment
Income|||||||||2022|2021|
|||||||||||E|E|
||Dividend
Income|||||||||138,658|135,407|
||Bank Interest|||||||||6|90|
||Rental Income|||||||||10,542|10,542|
|||||||||||149,206|146,039|
||Income from investments||was E149,206 (2021:E146,039)of||which E47,989|(2021:E48,345)|||was attributable|to endowment|funds|
||and E101,217(2021:E97,694) was attributable|||to Unrestricted|funds|||||||
|3|Total expenditure|||||||||||
||||||*Charitable||activities *|||||
|||||Raising|Grant|Support||Governance||||
|||||funds|funding||costs||costs|2022|2021|
|||||E|E||E||E|E|E|
||Investment
management||costs|38,069||||||38,069|34,994|
||Grants||||21,958|||||21,958|34,660|
||Keswick Park||||||5,900|||5,900||
||Low Road Expenses|||||16,486||||16,486|1,485|
||Insurance||||||715|||715|745|
||Sundry expenses||||||||||35|
||Depreciation||||||74|||74|165|
||Bank Charges||||||93|||93|54|
||Finance costs|||||18,468||||18,468|34,231|
||Copy/Post/Computer|Services|||||||1,337|1,337|1,568|
||Executive Officer's expenses||||||||343|343|0|
||Executive Officer's Charge||||||||9,525|9,525|13,475|
||Managing
Trustees'|travel|||||||345|345|0|
||Managing
Trustees'|meetings|||||||961|961|150|
||Audit||||||||5,216|5,216|4,660|
||Accountancy||||||||5,200|5,200|5,200|
||Subscriptions||||||||411|411|569|
|||||38,069|21,958|41,736|||23,338|125,101|131,991|
##
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|4|Tangible fixed asset|s||||
|---|---|---|---|---|---|
||||||Computer|
||||||equipment|
||||||2022f|
||Cost|||||
||At 1 April 2021 and 31 March 2022||||3,742|
||Depreciation|||||
||At 1 April 2021||||(3,247)|
||Charge for the year||||(74)|
||At 31 March 2022||||(3,321)|
||Net book value at 31 March 2022||||421|
||Net book value at 31 March 2021||||495|
||All fixed assets are for the Charity's||own use.|||
|5|Investments|||||
|||||2022
f.|2021f|
||Investment
properties|||295,000|295,000|
||Securities|||4,676,738|4,672,203|
|||||4,971,738|4,967,203|
||Investment
properties|||||
|||||2022
f.|2021f|
||59 Low Road Keswick|(original cost|630,800)|||
||Valuation|||95,000|95,000|
||Pasture
land adjoining|Keswick Hall|(original cost 628,750)|||
||Valuation|||200,000|200,000|
|||||295,000|295,000|
|ea|r ended 31March 2022|r ended 31March 2022||||||
|---|---|---|---|---|---|---|---|
|5|Investments
[continued]|||||||
|||||||2022|2021|
||Securities|||||||
||Market value at 1 April 2021|||||4,672,203|3,959,185|
||Additions|||||7,046|869,314|
||Disposal proceeds|||||(150,896)|(937,561)|
|||||||4,528,353|3,890,938|
||Unrealised
gains/losses|||||148,385|781,265|
||Market value at 31March 2022|||||4,676,738|4,672,203|
|6|Creditors: amounts
due|within one year||||2022|2021|
||Accruals|||||8,000|12,500|
||Deferred
income (note 8)|||||3,375|3,375|
||Grants committed
- Diocesan||RE advisers|(note 9)||180,000|180,000|
|||||||191,375|195,875|
|7|Creditors:
amounts
due|after|more than|one year||2022|2021|
||Long Term Grant Commitment||for Diocesan||RE advisers (note 9)|509,148|670,681|
|||||||509,148|670,681|
|8|Deferred income|||||2022|2021|
||Deferred
income brought|forward||||3,375|3,375|
||Released
during the year|||||(3,375)|(3,375)|
||Deferred
during the year|||||3,375|3,375|
||Deferred
income carried forward|||||3,375|3,375|
##
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|9|Grant com|mitm|ent|s|||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||Commitments|||Increase in|||||||Commitments|
||||||||||||brought|||forward
at 1.4.21|commitments
less variations||||Payments
in year||carried forward
at31.3.22||
||Grants|||||||||||||8,000|||13,958||(18,958)|||3,000|
||Diocesan RE advisers|||||||||||||850,681|||18,467||(180,000)|||689,148|
|||||||||||||||858,681|||32,425||(198,958)|||692,148|
|10|Funds||||Balance|||at|||||||Transfers|||||Gains/||Balance at|
||||||||1.4.21||||Income||Expenditure||between||funds||(losses)|||31.3.22|
||2022||||||||||6|||||||||6||6|
||Endowment|Fund|||||1,500,000||||47,989|||(12,368)||(117,479)||||81,858||1,500,000|
||Designated|Funds-|||||||||||||||||||||
||Keswick Park||||||||||6,750|||(5,900)||||||||850|
||Low Road||||||||||3,792|||(16,486)|||12,694||||||
||Unrestricted|Income||Fund||2,642,921|||||90,675|||(90,347)||104,785||||66,527||2,814,562|
||Totalfunds|||||4,142,921|||||149,206|||125,101||||||148,385||4,315,412|
||Funds||||Balance|||at|||||||Transfers|||||Gains/||Balance at|
||||||||1.4.20||||Income||Expenditure||between||funds||(losses)|||31.3.21|
||||||||||||f.|||6|||6|||6||6|
||Endowment|Fund||||1~506~810|||||48~345|||(22~080)||(278~221)||||245~146||1~500~000|
||Unrestricted|Income||Fund||1,840,798|||||97,694|||(109,911)|||278,221|||536,119||2,642,921|
||Totalfunds|||||3,347,608|||||146,039|||(131,991)|||||781,265|||4,142,921|
||The Endowment||Fund||is invested||to protect||the value ofthe||||Income Fund, and to provide supplementary|||||||income.||During the year|
||2018/2019 the Trustees adopted|||||a total return||||investment||policy||and released|funds from endowed||||funds,
retaining|||a permanent|
||endowment|of6733,000 and an||||unapplied|||total return of6767,000.||||||||||||||
||Under the terms||of|the|Trust (Capital and|||Income) Act 2013|||||the|Restricted
Investment|||Fund has|to|be retained at||the level of||
||61,500,000.||||||||||||||||||||||
||Designated|funds: The|||Trustees|decided||in|the|year to allocated||||the budgeted|income||and expenditure|||for Keswick||Park and 59 Low|
||Road to designated|||funds, to ensure that||||the cost ofthese||||properties
was openly and||||accurately||shown||seperately||from the normal|
||income and|expenditure|||of running||the charity|||in|the accounts.||||||||||||
|11|Analysis ofnet||assets between||||funds||||||||||||||||
||||||||||||||Unrestricted||Designated|||Endowment||||Total|
||2 22|||||||||||||6|||6||||||
||Fixed assets|||||||||||||421||||||||421|
||Investments|||||||||||||3,471,738|||||1,500,000|||4,971,738|
||Net current|liabilities||||||||||||(148,449)|||850|||||(147,599)|
||Long term liabilities|||||||||||||(509,148)||||||||(509,148)|
|||||||||||||||2,814,562|||850||1,500,000|||4,315,412|
||||||||||||||Unrestricted||Designated|||Endowment||||Total|
||2021|||||||||||||6|||6|||6||6|
||Fixed assets|||||||||||||495||||||||495|
||Investments|||||||||||||3,467,203|||||1,500,000|||4,967,203|
||Net current|liabilities||||||||||||(154,096)||||||||(154,096)|
||Long term liabilities|||||||||||||670,681||||||||670,681|
|||||||||||||||2 642 921|||||1|500 000||4 142921|
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|During the year seven Managing
Trust
training
costs of6150).
13 Financial
instruments|During the year seven Managing
Trust
training
costs of6150).
13 Financial
instruments|ees wer|e reimbursed|for travel expenses of634|5 (2021:one reimb|ursed
for|
|---|---|---|---|---|---|---|
|The carrying
amounts
ofthe charity's||financial|instruments|are as follows:|2022|2021|
||||||E|E|
|Financial assets|||||||
|Measured
at fair value through|net income;||||4,676,738|4,672,203|
|Fixed asset listed investments|(note 5)||||||
|14Total return investment|||||Unapplied||
|||||Endowment|Total Return|Total|
|At start ofaccounting
period:|||||||
|Trust for permanent
endowment||||733,000||733,000|
|Unapplied
total return|||||767,000|767,000|
|Movements
in the accounting
period:|||||||
|Investment
return
(dividends,|interest)||||47,989|47,989|
|Investment
return
(gains/losses)|||||81,858|81,858|
|Less investment
management|costs||||(12,368)|(12,368)|
|Unapplied
total return allocated to|income||||(117,479)|(117,479)|
|Net movements
in the accounting|period||||||
|At end ofaccounting
period:|||||||
|Trust for investment/permanent|endowment|||733,000||733,000|
|Unapplied
total return|||||767,000|767,000|
|||||733,000|767,000|1,500,000|
|Held as follows:|||||||
|Deposit account||||||1,493,409|
|Stock account||||||6,591|
|||||||1,500,000|