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|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|
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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|
|Independent|Examiner|:|Ian Scott BA (Hons), FCA, DChA|
||||Saint & Co|
||||Chartered Accountants|
||||12/13 Church Street|
||||Whitehaven|
||||Cumbria|
||||CA28 7AY|
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|**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|
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|||||**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|||
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|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%|
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|**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)**|
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|**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|
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|---|---|---|---|---|
|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|
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|**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|
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|otional Div|idends receive|d during the year were as follo|ws:||
|---|---|---|---|---|
||||**2023**|**2022**|
||||**£**|**£**|
|Charifund|Accumulation|Shares|596|742|
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|**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|
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|||**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|
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|**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|
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|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|
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||||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|
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