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2022-03-31-accounts
| Contents |
Page |
| Trust Information |
1 |
| The Trustees' Report |
2 |
| Statements o f Trustees' Responsibilities |
4 |
| Independent Examiners Report |
5 |
| Statement o f Financial Activities |
6 |
| Statement o f Financial Position |
7 |
| Notes to the Accounts |
8 — 16 |
| Rev. Gary Brown |
Chairman |
| Rev. Fergus Pearson |
Secretary |
| Rev. Robert Jackson |
Trustee |
| Mrs Suzanne Cooper |
Trustee |
| Ms Caroline Lowman |
Bookshop Manager |
| Mr Ken Frazer |
Treasurer |
| Mr Colin Campbell |
Business Manager |
| (June 2021) |
|
| Bankers |
: |
Barclays Bank Plc |
|
|
30 Main Street |
|
|
Cockermouth |
|
|
Cumbria |
|
|
CA139LQ |
| Solicitors |
: |
Brockbank, Curwen, Cain & Hall |
|
|
44 Duke Street |
|
|
Whitehaven |
|
|
Cumbria |
|
|
CA28 7RT |
| Auditors |
: |
Saint & Co |
|
|
Chartered Accountants & |
|
|
Registered Auditors |
|
|
12/13 Church Street |
|
|
Whitehaven |
|
|
Cumbria |
|
|
CA28 7AY |
| **Statement of Financial Activities ** |
**Statement of Financial Activities ** |
**Statement of Financial Activities ** |
**Statement of Financial Activities ** |
**for the year ** |
ended 31 March 2022 |
ended 31 March 2022 |
ended 31 March 2022 |
|
|
|
**Unrestricted ** |
|
Restricted |
Endowment |
|
Total |
Total |
|
|
Funds |
|
Funds |
Funds |
|
2022 |
2021 |
|
Notes |
|
£ |
£ |
£ |
|
£ |
£ |
| Incoming Resources |
|
|
|
|
|
|
|
|
| Incoming resources from generated |
|
funds: |
|
|
|
|
|
|
| Voluntary income |
|
3,619 |
|
|
5,334 |
|
5,334 |
5,334 |
| Activities for generating funds: |
|
|
|
|
|
|
|
|
| Bookshop Rent Receivable |
|
|
|
|
|
|
|
|
| Income from Trading Activities 2 |
|
|
|
26,692 |
|
|
13,523 |
13,523 |
| Investment Income & Interest: |
|
|
|
|
|
|
|
|
| Interest N/S Income Bond |
|
|
|
|
|
|
|
|
| Grants |
|
|
|
2,667 |
|
|
2,667 |
20,169 |
| Interest on Bank Account |
|
|
|
|
|
|
|
|
| Investment Re−distribution |
|
|
|
|
742 |
|
742 |
688 |
| Total Incoming Resources |
|
3,619 |
|
29,359 |
742 |
|
33,720 |
39,714 |
| Resources Expended |
|
|
|
|
|
|
|
|
| Costs o f generating funds: |
|
|
|
|
|
|
|
|
| Expenditure from Trad.Activ.2 |
|
|
|
4,5630 |
|
|
45,630 |
22,537 |
| Building Maintenance |
|
|
786 |
|
|
|
786 |
|
| Depreciation |
|
|
400 |
|
|
|
400 |
400 |
| Insurance |
|
|
356 |
|
|
|
356 |
352 |
| Investment Re−distribution |
|
|
|
|
|
|
|
|
| Gifts |
|
|
|
|
|
|
|
|
| Total Resources Expended |
|
1,542 |
|
45,630 |
|
|
47,172 |
22,389 |
| Net Incoming Resources before |
|
|
|
|
|
|
|
|
| **other recognised gains and ** |
losses |
2,077 |
|
(16,271) |
742 |
(13,452) |
|
16,425 |
| Unrealised Gains/(Losses) |
|
|
|
|
1,345 |
|
1,345 |
3,106 |
| on Investment Assets |
|
|
|
|
|
|
|
|
| Transfer between Funds: |
|
4,000 |
|
(4,000) |
|
|
|
|
| Net movement in Funds: |
|
6,077 |
|
(20,271) |
2,087 |
(12,107) |
|
19,531 |
| Reconciliation of funds: |
|
|
|
|
|
|
|
|
| Fund Balances brought forward |
|
|
|
|
|
|
|
|
| at 1April2021 |
|
50,789 |
|
(13,666) |
36,547 |
|
73,670 |
54,139 |
| Fund Balances carried forward |
|
|
|
|
|
|
|
|
| at 31 March 2022 |
|
56,866 |
|
(33,937) |
38,634 |
|
61,563 |
73,670 |
|
|
|
|
Page 7 |
| **Statement of Financial ** |
Position as at 31 March 2022 |
|
|
|
|
|
|
Total |
Total |
|
|
Notes |
2022 |
2021 |
| FIXED ASSETS |
|
|
|
|
| Tangible Fixed Assets |
|
5 |
10,815 |
11,240 |
| Investments |
|
6 |
18,634 |
16,547 |
|
|
|
29,449 |
27,787 |
| CURRENT ASSETS |
|
|
|
|
| Stocks |
|
9 |
31,697 |
24,224 |
| Debtors |
|
10 |
56,419 |
48,836 |
| Investments |
|
|
|
|
| Cash at Bank and in Hand |
|
11 |
9,364 |
24,285 |
|
|
|
97,480 |
97,345 |
| CREDITORS —amounts falling due within one |
year |
12 |
65,366 |
51,462 |
| NET CURRENT ASSETS |
|
|
32,114 |
45,883 |
| NET ASSETS |
|
|
61,563 |
73,670 |
| CAPITAL FUNDS |
|
|
|
|
| Recoupment Fund |
|
8 |
18,634 |
16,547 |
| Endowment Fund |
|
8 |
20.000 |
20.000 |
|
|
|
38,634 |
36,547 |
| INCOME FUNDS |
|
|
|
|
Restricted
−Trust General Fund |
|
|
56,866 |
50,789 |
Restricted
−Bookshop Accumulated Fund |
|
|
(33,937) |
(13,666) |
|
|
|
22,929 |
37,123 |
|
|
|
61,563 |
73,670 |
|
|
|
|
===== |
| Approved by the Board o f Trustees on the |
|
14 |
day o f 1:−(2.−c−e−wtx..e./ 2022 |
|
| and signed on its behalf by |
|
|
|
|
|
Trustee |
|
|
|
| REVEREND GARY BROWN |
|
|
|
|
| Profit and Loss Account |
|
|
|
|
|
|
|
2022 |
2021 |
| Turnover |
|
|
26,692 |
13,523 |
| Cost o f Sales |
|
|
17,486 |
8,678 |
| Gross Profit |
34.5 |
% (2021 : 35.8%) |
9,206 |
4,845 |
| Administrative Expenditure: |
|
|
|
|
| Salary |
|
|
21,512 |
14926 |
| Pension Costs |
|
|
486 |
634 |
| Website Charges |
|
|
762 |
|
| Printing and Stationery − |
|
|
56 |
|
| Postages and Return Carriage |
|
|
174 |
70 |
| Telephone |
|
|
531 |
900 |
| Repairs and Renewals |
|
|
181 |
644 |
| Xero Fees (Accountancy package) |
|
|
270 |
94 |
| Rates & Water Charges |
|
|
267 |
264 |
| Lighting and Heating |
|
|
1,382 |
1,257 |
| Cleaning |
|
|
108 |
95 |
| Depreciation |
|
|
25 |
25 |
| Insurance |
|
|
356 |
352 |
| Audit & Accountancy Fees |
|
|
2,040 |
2,007 |
| Bank Charges & Interest plus Credit Card |
|
|
627 |
494 |
| Training Costs |
|
|
199 |
|
| Travelling Expenses |
|
|
|
|
| EPOS System |
|
|
432 |
|
| Refreshments |
|
|
223 |
|
| Miscellaneous Expenses |
|
|
23 |
37 |
|
|
|
29654 |
21,799 |
| Miscellaneous Income |
|
CAP rent |
600 |
600 |
|
|
Furlough |
910 |
7,340 |
|
|
Grants |
2,667 |
20,169 |
| Net Profit for the ye |
r |
|
(16,271) |
11,155 |
|
Cost |
Price |
Selling |
Price |
|
2022 |
2021 |
2022 |
2021 |
| Books and Bibles |
10,260 |
4,678 |
16,062 |
7,585 |
| Recorded Stationery and Crafts |
2,898 |
1,700 |
3,621 |
2,581 |
| Cards and Posters |
4,153 |
2,050 |
6,834 |
3,197 |
| Stamps & Vouchers |
175 |
160 |
175 |
160 |
|
17.486 |
8.678 |
26.692 |
13.523 |
| Trust General and Endowment Funds: |
Land and |
Catering |
Domestic |
Total |
|
Buildings |
Equipment |
Equipment |
|
| Cost: |
|
|
|
|
| Balance at 1 April 2021 |
20,000 |
1,011 |
1,784 |
22,795 |
| Additions |
|
|
|
|
| Balance at 31 March 2022 |
20,000 |
1,011 |
1,784 |
22,795 |
| Accumulated Depreciation: |
|
|
|
|
| Balance at 1 April 2021 |
8,800 |
1,011 |
1,784 |
11,595 |
| Charge for year |
400 |
|
|
400 |
| Balance at 31 March 2022 |
9,200 |
1,011 |
1,784 |
11,995 |
| Net Book Value 2022 |
10,800 |
|
|
10,800 |
| Net Book Value 2021 |
11,200 |
|
|
11,200 |
| Bookshop Fund: |
Display |
Office |
Computer |
Total |
|
Units |
Equipment |
Equipment |
|
| Cost |
|
|
|
|
| Balance at 1 April 2021 |
1,217 |
1,417 |
552 |
3,186 |
| Additions |
|
|
|
|
| Balance at 31 March 2022 |
1,217 |
1,417 |
552 |
3,186 |
| Accumulated Depreciation: |
|
|
|
|
| Balance at 1 April 2021 |
1,191 |
1,403 |
552 |
3,146 |
| Charge for year |
14 |
11 |
|
25 |
| Balance at 31 March 2022 |
1,205 |
1,414 |
552 |
3,171 |
| Net Book Value 2022 |
12 |
3 |
|
15 |
| Net Book Value 2021 |
26 |
14 |
|
40 |
| Total Net Book Value 2022 |
|
|
|
10,815 |
| Net Book Value 2021 |
|
|
|
11,240 |
| otional Dividends received during the year were as follows: |
|
|
|
2022 |
2021 |
| Charinco Accumulation Shares — cashed April 2013 |
|
|
| Charifund Accumulation Shares |
742 |
688 |
| Units |
|
Cost |
Market Value |
|
|
£ |
E |
|
Merrill Lynch: |
|
|
| 471.899 |
Charinco Accumulation Shares |
4,278 |
|
|
M & G Securities: |
|
|
| 175.000 |
Charifund Accumulation Shares |
4,278 |
18,634 |
|
|
£8.556 |
16.547 |
|
2022 |
2021 |
| Market Value 1 April 2021 |
16,547 |
12,753 |
| Dividends Reinvested |
742 |
688 |
| Net Unrealised Investment |
|
|
| Gains/(Losses) |
1,345 |
3,106 |
| Funds Redistributed |
|
|
| Withdrawals |
|
|
| Market Value 31 March 2022 |
18.634 |
16.547 |
| Historical Cost at 31 March 2022 |
4,278 |
4.278 |
|
Unrestricted |
Restricted |
Endowment |
Total |
|
Funds |
Funds |
Funds |
Funds |
|
£ |
£ |
£ |
£ |
| Fund Balances at 31 March 2022 |
|
|
|
|
| are represented by: |
|
|
|
|
| Tangible Fixed Assets |
(9,200) |
15 |
20,000 |
10,815 |
| Investments |
|
|
18,634 |
18,634 |
|
(9,200) |
15 |
38,634 |
29,449 |
| Current Assets: |
|
|
|
|
| Stock |
|
31,697 |
− |
31,697 |
| Debtors |
55,696 |
723 |
− |
56,419 |
| Investments |
|
|
|
|
| Cash at Bank and in Hand |
3,502 |
5,862 |
|
9,364 |
|
59,198 |
38,282 |
|
97,480 |
| Current Liabilities |
|
65,366 |
|
65,366 |
| Transfers between Fund |
4,000 |
(4,000) |
|
|
| Total Net Assets |
53,998 |
(31,069) |
38,634 |
61,563 |
| ENDOWMENT FUNDS ANALY |
SIS |
|
|
|
|
|
|
Balance |
**MOVEMENT OF ** |
|
FUNDS |
|
Balance |
|
31 March |
Dividends |
Gains/ |
Re−dist. |
With |
31 March |
|
2021 |
|
Losses |
|
drawals |
2022 |
| Permanent Endowment Fund |
20,000 |
|
|
|
|
20,000 |
| Recoupment Fund |
16,547 |
742 |
1,345 |
|
|
18,634 |
|
36,547 |
742 |
1,345 |
|
|
38,634 |
| 9) |
STOCK |
|
|
|
|
2022 |
2021 |
|
Books and Bibles |
20,092 |
11,471 |
|
Tapes, Videos and Compact Discs |
862 |
994 |
|
Crafts |
4,502 |
4,678 |
|
Cards |
6,241 |
7,081 |
|
Stamps |
− |
− |
|
|
31,697 |
24,224 |
| 10) |
DEBTORS |
|
|
|
Trust Accounts |
2022 |
2021 |
|
Due from HIMRC |
434 |
450 |
|
Due from the Bookshop |
55,262 |
48,262 |
|
|
−−−− |
|
|
|
55,696 |
48,712 |
|
Bookshop Account |
|
|
|
Trade Debtors |
723 |
124 |
|
Prepayments |
|
|
|
|
723 |
124 |
|
|
|
==== |
|
Total |
56,419 |
48,836 |
|
Bookshop |
2022 |
2021 |
|
|
£ |
£ |
|
Cash at Bank |
5,682 |
16,087 |
|
Cash Float |
30 |
30 |
|
Cash in Hand |
|
|
|
Petty Cash |
150 |
150 |
|
|
5.862 |
16,267 |
|
Trust |
3,502 |
8,018 |
|
Total |
9,364 |
24,285 |
| 12) |
LIABILITIES — AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
Trust Account |
2022 |
2021 |
|
|
£ |
£ |
|
Accruals |
|
− |
|
|
|
− |
|
Bookshop Account |
|
|
|
Trade Creditors |
5,892 |
816 |
|
Sundry Creditors |
47 |
70 |
|
Inland Revenue |
882 |
811 |
|
Due to the Trust |
55,262 |
48,262 |
|
Accruals |
3,282 |
1,503 |
|
Total |
65,365 |
51,462 |
|
|
|
−−=== |