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2023-03-31-accounts
| Contents |
Page |
| Trust Information |
1 |
| The Trustees' Report |
2 |
| Statements of Trustees' Responsibilities |
4 |
| Independent Examiners Report |
5 |
| Statement of Financial Activities |
6 |
| Statement of Financial Position |
7 |
| Notes to the Accounts |
8 —16 |
|
Bankers |
: |
Barclays Bank Plc |
|
|
|
30 Main Street |
|
|
|
Cockermouth |
|
|
|
Cumbria |
|
|
|
CA139LQ |
|
Solicitors |
: |
Brockbank, Curwen, Cain & Hall |
|
|
|
44 Duke Street |
|
|
|
Whitehaven |
|
|
|
Cumbria |
|
|
|
CA28 7RT |
| Independent |
Examiner |
: |
Ian Scott BA (Hons), FCA, DChA |
|
|
|
Saint & Co |
|
|
|
Chartered Accountants |
|
|
|
12/13 Church Street |
|
|
|
Whitehaven |
|
|
|
Cumbria |
|
|
|
CA28 7AY |
| **Statement of ** |
Financial Activities |
for the year |
ended 31 March 2023 |
ended 31 March 2023 |
|
|
Unrestricted |
Restricted |
Endowment |
Total |
Total |
|
Funds |
Funds |
Funds |
2023 |
2022 |
| Notes |
|
|
|
|
|
| Incoming Resources |
|
|
|
|
|
| Incoming resources from generated |
funds: |
|
|
|
|
| Voluntary income |
3,442 |
|
|
3,442 |
3,619 |
| Activities for generating funds: |
|
|
|
|
|
| Bookshop Rent Receivable |
|
|
|
|
|
| Income from Trading Activities 2 |
|
28,618 |
|
28,618 |
26,692 |
| Investment Income & Interest: |
7,000 |
|
|
7,000 |
|
| Interest N/S Income Bond |
|
|
|
|
2,667 |
| Grants |
|
|
|
|
|
| Interest on Bank Account |
− |
|
− |
|
|
| Investment Re−distribution |
|
|
596 |
596 |
742 |
| Total Incoming Resources |
10,442 |
28,618 |
596 |
39,656 |
33,720 |
| Resources Expended |
|
|
|
|
|
| Costs of generating funds: |
|
|
|
|
|
| Expenditure from Trad.Activ.2 |
− |
34,413 |
|
34,413 |
45,630 |
| Building Maintenance |
|
|
− |
− |
786 |
| Depreciation |
400 |
|
− |
400 |
400 |
| Insurance |
308 |
|
|
308 |
356 |
| Investment Re−distribution |
− |
− |
7,000 |
7,000 |
|
| Gifts |
|
|
|
|
|
| Total Resources Expended |
708 |
34,413 |
7,000 |
42,121 |
47,172 |
| Net Incoming Resources before |
|
|
|
|
|
| other recognised gains and losses |
9,734 |
(5,795) |
(6,404) |
(2,465) |
(13,452) |
| Unrealised Gains/(Losses) |
|
|
(823) |
(823) |
1,345 |
| Transfer between Funds: |
|
|
|
|
|
| Net movement in Funds: |
9,734 |
(5,795) |
(7,227) |
(3,288) |
(12,107) |
| Reconciliation of funds: |
|
|
|
|
|
| Fund Balances brought forward |
|
|
|
|
|
| at 1 April 2022 |
56,866 |
(33,937) |
38,634 |
61,563 |
73,670 |
| Fund Balances carried forward |
|
|
|
|
|
| at 31 March 2023 |
66,600 |
(39,732) |
31,407 |
58,275 |
61,563 |
|
|
|
|
Total |
Total |
|
|
Notes |
|
2023 |
2022 |
|
|
|
|
£ |
£ |
| FIXED ASSETS |
|
|
|
|
|
| Tangible Fixed Assets |
|
5 |
|
10,400 |
10,815 |
| Investments |
|
6 |
|
11,407 |
18,634 |
|
|
|
|
21,807 |
29,449 |
| CURRENT ASSETS |
|
|
|
|
|
| Stocks |
|
9 |
|
28,980 |
31,697 |
| Debtors |
|
10 |
|
56,171 |
56,419 |
| Investments |
|
|
|
|
|
| Cash at Bank and in Hand |
|
11 |
|
11,496 |
9,364 |
|
|
|
|
96,647 |
97,480 |
| CREDITORS —amounts falling due within one year |
|
12 |
|
60,020 |
65,366 |
| NET CURRENT ASSETS |
|
|
|
36,627 |
32,114 |
| NET ASSETS |
|
|
|
58,434 |
61,563 |
| CAPITAL FUNDS |
|
|
|
|
|
| Recoupment Fund |
|
8 |
|
11,407 |
18,634 |
| Endowment Fund |
|
8 |
|
20.000 |
20.000 |
|
|
|
|
31,407 |
38,634 |
| INCOME FUNDS |
|
|
|
|
|
Restricted
−Trust General Fund |
|
|
|
66,600 |
56,866 |
Restricted
−Bookshop Accumulated Fund |
|
|
|
(39,732) |
(33,937) |
|
|
|
|
26,868 |
22,929 |
|
|
|
|
58,275 |
61,563 |
gik
Approved by the Board of Trustees on the −
and signed on its behalf by |
day of |
|
2023 |
|
|
| Depreciation is calculated on the written down value each year at the |
following rates:− |
|
| Freehold Property |
2% straight |
line |
| Bookshop Display Units and Bookshop |
|
15% |
| Catering Equipment, Kitchen Equipment, Hardware |
|
|
| and Crockery, Bookshop Cassette Player and Office Equipment |
|
20% |
| Other Fixed Assets |
|
25% |
| Computer |
|
33% |
| Profit and Loss Account |
|
|
|
|
|
2023 |
2022 |
| Turnover |
|
28,618 |
26,692 |
| Cost of Sales |
|
18,967 |
17,486 |
Gross Profit
33.7 |
% (2022 : 34.5%) |
9,651 |
9,206 |
| Administrative Expenditure: |
|
|
|
| Salary |
|
8,101 |
21,512 |
| Website Charges |
|
1,018 |
762 |
| Pension Costs |
|
37 |
486 |
| Printing and Stationery |
|
17 |
56 |
| Postages and Return Carriage |
|
326 |
174 |
| Telephone |
|
1,009 |
531 |
| Repairs and Renewals |
|
347 |
181 |
| Xero Fees (Accountancy package) |
|
293 |
270 |
| Rates & Water Charges |
|
704 |
267 |
| Lighting and Heating |
|
778 |
1,382 |
| Cleaning |
|
59 |
108 |
| Depreciation |
|
15 |
25 |
| Insurance |
|
308 |
356 |
| Audit & Accountancy Fees |
|
1,806 |
2,040 |
| Bank Charges & Interest plus Credit Card |
|
390 |
627 |
| Training Costs |
|
|
199 |
| Travelling Expenses |
|
|
|
| EPOS System |
|
576 |
432 |
| Refreshments |
|
189 |
223 |
| Miscellaneous Expenses |
|
73 |
23 |
|
|
16,046 |
29,654 |
| Miscellaneous Income |
CAP rent |
600 |
600 |
| Furlough |
|
|
910 |
| Grants |
|
|
2,667 |
| Net Profit/Lossfor the year |
|
(5_,,795) |
.(16,271) |
| URCHASE ANALYSIS |
|
|
|
|
|
Cost |
Price |
Selling |
Price |
|
2023 |
2022 |
2023 |
2022 |
| Books and Bibles |
12,210 |
10,260 |
17,838 |
16,062 |
| Recorded Stationery and Crafts |
2,929 |
2,898 |
4,666 |
3,621 |
| Cards and Posters |
3,623 |
4,153 |
5,909 |
6,834 |
| Stamps & Vouchers |
205 |
175 |
205 |
175 |
|
18,967 |
17,486 |
28,618 |
26,692 |
|
|
|
|
|
| Trust General and Endowment Funds: |
Land and |
Catering |
Domestic |
Total |
|
Buildings |
Equipment |
Equipment |
|
|
E |
£ |
E |
E |
| Cost: |
|
|
|
|
| Balance at 1 April 2022 |
20,000 |
1,011 |
1,784 |
22,795 |
| Additions |
|
|
|
|
|
|
− |
|
|
| Balance at 31 March 2023 |
20,000 |
1,011 |
1,784 |
22,795 |
| Accumulated Depreciation: |
|
|
|
|
| Balance at 1 April 2022 |
9,200 |
1,011 |
1,784 |
11,995 |
| Charge for year |
400 |
|
− |
400 |
| Balance at 31 March 2023 |
9,600 |
1,011 |
1,784 |
12,395 |
| Net Book Value 2023 |
10,400 |
|
|
10,400 |
| Net Book Value 2022 |
10,800 |
− |
|
10,800 |
| Bookshop Fund: |
Display |
Office |
Computer |
Total |
|
Units |
Equipment |
Equipment |
|
|
E |
E |
E |
E |
| Cost |
|
|
|
|
| Balance at 1 April 2022 |
1,217 |
1,417 |
552 |
3,186 |
| Additions |
|
|
|
|
| Balance at 31 March 2023 |
1,217 |
1,417 |
552 |
3,186 |
| Accumulated Depreciation: |
|
|
|
|
| Balance at 1 April 2022 |
1,205 |
1,414 |
552 |
3,171 |
| Charge for year |
12 |
3 |
|
15 |
| Balance at 31 March 2023 |
1,217 |
1,417 |
552 |
3,186 |
| Net Book Value 2023 |
|
|
|
|
| Net Book Value 2022 |
12 |
3 |
|
15 |
| Total Net Book Value 2023 |
|
|
|
10,400 |
| Net Book Value 2022 |
|
|
|
10,815 |
| otional Div |
idends receive |
d during the year were as follo |
ws: |
|
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
| Charifund |
Accumulation |
Shares |
596 |
742 |
| Units |
|
Cost |
Market Value |
|
|
f |
f |
|
Merrill Lynch: |
|
|
| 471.899 |
Charinco Accumulation Shares |
4,278 |
|
|
M & G Securities: |
|
|
| 175.000 |
Charifund Accumulation Shares |
4,278 |
11,407 |
|
|
£8,556 |
18,634 |
|
|
2023 |
2022 |
|
| Market Value 1 April 2022 |
|
18,634 |
16,547 |
|
| Dividends Reinvested |
|
596 |
742 |
|
| Net Unrealised Investment |
|
|
|
|
| Gains/(Losses) |
|
(823) |
1,345 |
|
| Funds Redistributed |
|
|
|
|
| Withdrawals |
|
(7,000) |
|
|
| Market Value 31 March 2023 |
|
11,407 |
18,634 |
|
| Historical Cost at 31 March 2023 |
|
4,278 |
4,278 |
|
| ANALYSIS OF NET ASSETS BY FUNDS |
|
|
|
|
|
Unrestricted |
Restricted |
Endowment |
Total |
|
Funds |
Funds |
Funds |
Funds |
|
f |
£ |
£ |
£ |
| Fund Balances at 31 March 2023 |
|
|
|
|
| are represented by: |
|
|
|
|
| Tangible Fixed Assets |
(9,600) |
|
20,000 |
10,400 |
| Investments |
|
|
11,407 |
11,407 |
|
(9,600) |
|
31,407 |
21,807 |
| Current Assets |
|
|
|
|
| Stock |
|
28,980 |
|
28,980 |
| Debtors |
55,727 |
444 |
|
56,171 |
| Investments |
− |
− |
− |
|
| Cash at Bank and in Hand |
6,605 |
4,891 |
|
11,496 |
|
62,332 |
34,315 |
|
96,647 |
| Current Liabilities |
|
60,020 |
|
60,020 |
| Transfers between Fund |
|
|
|
|
| Total Net Assets |
52,732 |
(25.705) |
31.407 |
5: 434 |
| ENDOWMENT FUNDS ANALYSIS |
|
|
|
|
|
|
|
Balance |
**MOVEMENT ** |
|
OF FUNDS |
|
Balance |
|
31 March |
Dividends |
Gains/ |
Re−dist. |
With |
31 March |
|
2022 |
|
Losses |
|
drawals |
2023 |
|
£ |
£ |
£ |
£ |
£ |
£ |
| Permanent Endowment Fund |
20,000 |
− |
|
|
|
20,000 |
| Recoupment Fund |
18,634 |
596 |
(823) |
− |
(7,000) |
11,407 |
|
38,634 |
596 |
(823) |
|
(7,000) |
31,407 |
| 9) |
STOCK |
|
|
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Books and Bibles |
18,064 |
20,092 |
|
Tapes, Videos and Compact Discs |
540 |
862 |
|
Crafts |
4,117 |
4,502 |
|
Cards |
6,259 |
6,241 |
|
Stamps |
|
|
|
|
28,980 |
31,697 |
| 10) |
DEBTORS |
|
|
|
Trust Accounts |
2023 |
2022 |
|
|
£ |
£ |
|
Due from HMRC |
465 |
434 |
|
Due from the Bookshop |
55,262 |
55,262 |
|
|
55,727 |
55,696 |
|
Bookshop Account |
|
|
|
Trade Debtors |
444 |
723 |
|
Prepayments |
|
|
|
Accounts Receivable |
|
|
|
|
444 |
723 |
|
Total |
56,171 |
56,419 |
|
|
|
Pag |
|
**Notes forming part of the Accounts for the year ended 31 March ** |
2023 (continued) |
|
| 11) |
CASH AT BANK AND IN HAND |
|
|
|
Bookshop |
2023 |
2022 |
|
Cash at Bank |
4,681 |
5,682 |
|
Cash Float |
60 |
30 |
|
Cash in Hand |
|
|
|
Petty Cash |
150 |
150 |
|
|
4,891 |
5,862 |
|
Trust |
6,605 |
3,502 |
|
Total |
11,496 |
9,364 |
| 12) |
LIABILITIES — AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
Trust Account |
2023 |
2022 |
|
Accruals |
|
|
|
Bookshop Account |
|
|
|
Trade Creditors |
2,932 |
5,892 |
|
Sundry Creditors |
57 |
48 |
|
Inland Revenue |
288 |
882 |
|
Due to the Trust |
55,262 |
55,262 |
|
Accruals |
1,481 |
3,282 |
|
Total |
60,020 |
65,366 |