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|**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|
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|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)||
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|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|
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|**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|
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|||||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|||||
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|**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|
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||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|
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|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|
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|**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|
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|otional Dividends received during the year were as follows:|||
|---|---|---|
||**2022**|**2021**|
|Charinco Accumulation Shares — cashed April 2013|||
|Charifund Accumulation Shares|742|688|
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|**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|
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||**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|
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||**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|
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|**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|
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|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|
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||**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|
||||−−===|
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