2022-03-31-accounts

Risk								Owner	MitigaUen
Ca	e
Operational		Inability	to recruit and retain					Board/	Regular benchmarking ofpay
		appropriately		qualified stalf and loss of				Director	rates; appraisal system to
		key personnel		temporarily		or			capture stalf feedback.
		permanently							Able to make use of casual
									stafFto fill temporarily vacant
									posts where possible.
									Annual review of pay.
									Implementation of appraisal
									system and subsequent
									identification of training
									needs. Access to LCC online
									training in place. JDs
									reviewed prior to any
									recruitment.
Operational		Terrorism	-threat to		life and property			Director	Regular liaison with police.
		from the	actions ofextremists.						Additional measures put in
									place for high-risk events.
									Emergency Plan reviewed
									July 2021.
Financial		Rising costs (e.g. fuel, energy, cost of						Director	Regular reviews of Trust
		living) impact		on Trust's operating			costs		suppliers and prices paid to
		and/or visitor		spend habits					ensure best value achieved;
									re ular monitorin of income

REPORT	OFTHE TRU	STEES F	ORTHE YEAR EN	DED 32 MAR	CH 2022 (CONTINUED)
					(car parking, cafe) to
					understand visitor trends.
					Consider alternative cost
					savings measures that could
					be implemented ifcore costs
					I'Isa.
					Ensure park remains an
					attractive prospect to visitors
					reasonable parking
					charges, events 8 activities
					on offer, suitable cafe menu.
Operational	Safeguarding	- failure	to comply with	Director /	Safeguarding policies
	Government	guidance	for charities lt	Board	adopted 2020 and reviewed
	Trustees-				2022.
	https://www.	gov.uk/guidance/safeguardi			Ensure all staff and Trustees
	ng-for-charities-and-trustees				are aware of policies and
					receive appropriate training.
					Raise staff awareness so that
					any concerns are highlighted
					as soon as they arise.

	ACCOUNT)	FORTHE	YEAR ENDED 3	2 MARCH 202	2
			Unreslrlclad	Restricted	Tolal	Total
			funds	funds	2022	2021
		Notes	E	F.
Income from:
Donations and legacies		4	124,879	17,600	142,479	151,181
Charitable activities		5	1,560,684	3,779	1,564,463	1,625,672
Investment income		6	106,452		106,452	76,828
Other income		7	25,900		25,900	4,885
Total			1,817,915	21,379	1,839,294	1,858,566
~xpendlture on:
Charitable activities:
Visitor Services			976,332	11,908	988,240	891,930
Estate Maintenance	and Management		601,283	11,360	612,643	539,217
Total		8	1,577,615	23,268	1,600,883	1,431,147
Net gains on investment	properties	14
Net income/(expenditure)			240,300	(1,889)	238,411	427,419
Other reco0nlsed (losses)/gains
Actuarial (losses)/gains	on defined	benefit
pension scheme		18	285,000		285,000	(237,000)
Net movement in funds			525,300	(1,889)	523,411	190,419
ReconcElatlon offunds
Total funds brought forward			700,865	224,769	925,634	735,215
Tolal funds cerned forward			1,226,165	222,880	1,449,045	925,634

			31March	31March
			2022	2021
			f.	E
Fixed assets
Tangible assets Heritage assets Investment properties		13 13 14	188,160 454,916 275,000	145,079 426,047 510,000
Total fixed assets			918,076	1,081,126
Cutsent assets
Stocks		15	58,690	75,726
Debtors		16	27,724	11,360
Cash at bank and in hand			1,139,115	717,733
Total current assets			1,225,529	804,819
Current SahSIHes
Creditors: Amounts	falling
due within one year		17	(112,560)	(107,311)
Net current assets			1,112,969	697,508
Total assela less	cunent liahiliHes excluding
pension llahgltf			2,031(045	1,778,634
Defined benefit pension
scheme liability		18	(582,000)	(853,000)
Total net assets			1,449,045	925,634
The funds ofthe Restricted funds	chatfty	19	222,880	224,769
Unrestricted funds
- Designated funds —General funds			643,406 1,164,759	505,984 1,047,881
- Pension reserve			(582,000)	(853,000)
Tots I unrestricted	funds	19	1,226,165	700,865
Total chadtY funds			1,449,045	925,634

				2022		2022
			E	E	E	E
Cash flows flem operating lfstcash pruvhfsd/trrsud)	activities: rn
opsrurinp Bc&tftAw		22		191,260		429,794
Cash flows from Investing
acgvitles:
Investment income			106,452		76,828
Proceeds from the sale oftangible
assets			30,900		4,885
Proceeeds from the sale of investment
properties			230,000
Purchase oftangible and heritage assets			(137,230)		(28,190)
ffetcash provided by investrng acthdtfw				230,122		53,523
Change In Cash and cash equivalents
In the mportlng period				421,382		483,317
Cash and cash equivalents	atthe
beginning ofthe ruporgng	period			717,733		234,416
Cash and cash equivalents	atthe
end ofthe reporting period				1,139,115		717,733

		FORTHE Y	EAR	ENDED 21MA	RCH 2022 (CONTINU	ED)
						Unrwdric}nd	fisnde
7.	Other income					2022	2021
						F.
	Sale offixed	assets				25,900	4,885
8.	ExpendRuru	Analyeis
	Charitable	AcUv}Uee
					Estate
				Y}eRer	Maintenance and	Total	Total
				Services	Management	2022	2021
				E		E	E
	Staff costs (see note 10)			529,060	284,878	813,938	801,548
	Other direct	costs		267,653	228,001	495,654	360,285
	Support costs (see note 9)			191,527	99,764	291,291	269,314
				988,240	612,643	1,600,883	1,431,147
9.	Anal}rale efsupport coals
					Estate
				Via}ter Services	Maintenance and Management	Total 2022	Telnl 2021
				E	E	E	E
	Electricity, water and rates			61,392	15,348	76,740	50,322
	Insurance, administration		and
	overheads			81,450	44,577	126,027	1'}3,188
	Depreciation			32,640	32,640	65,280	58,682
	Pension finance cost			11,050	5,950	17,000	14,000
	Governance	costs		4,995	1,249	6,244	3,122
				191,527	99,764	291,291	269,314

Net Income/(expenditure)
This is arrived aRer charging/(crediting):-		2022	2022
		E	E
Depreciation ofowned fixed tangible and heritage assets		65,280	58,682
Profit on disposal offixed tangible assets		(25,900)	(4,885)
Operating rentals receivables		(67,100)	(27,305)
Operating rentals payable Net interest on defined benefit pension	liability	2,073 17,000	1,209 14,000
Non-audit fees bourne by the charity		1,500	5,750

ils ofassets owned by the	Charity are	given	bel	ow:
						2022	2022
Heritage assess:
Land (acres) comprising	Bradgate	Park	and	Swithland	Wood	1,289	1,289
Country Park and associated	protective	cordon		of agricultural	land
and woodland.
Buildings:
Deer Barn Buildings						1
Ruins of Bradgate House						1
Old 3ohn Tower						1
Yeomanry War Memorial						1
Country Park Tea Room it Shop						1
Toilet Blocks						3
Residenbal Properties						4
Assela capltaEsed
Vehicles
Residential properties

The investment property comprises one property h party. One property was sold during the year.	eld by the charity which is leased to a third
	E
At 1April 2021	510,000
Disposals	(235,000)
At 31 March 2022	275,000

15.	Stnchs
						2022	2021
						E
	Deer herd					44,605	47,138
	Stock for	resale				14,085	28,588
						58,690	75,726
16.	Debhno
						2022	2021
						E	E
	Trade debtors					11,748	6,239
	Other debtors					15,976	5,121
						27,724	11,360
	Trade debtors are		stated after a bad debt provision of anil (2021:anil).
17.	Cteditorst Amounts				falling due within one year
						2022	2021
						E	E
	Trade creditors					45,122	51,140
	Taxes and social secudty					31,778	19,082
	Accruals and deferred				income	35,660	37,089
						112,560	107,311
						2022	2021
						E
	Defamed	income
	Deferred	income at		1	April 2021	553	4,582
	Resources	deferred		in	the year	5,842	553
	Amounts	released	from previous years			(553)	(4,582)
	Deferred	income at 31 March 2022				5,842	553

present value ofthe	defi	ned	ben	elit obli	gatio	n.
								2022	2021
								ear	Sb
Discount rate								2.7	2.0
Future expected rate Future expected rate	of of	increase increase		of pensions in saladies				3.2 3.7	2.9 3.4
Hortali ty assumptions
The average life expectancy			for a pensioner			retiring	at 65 on	the reporting date is:
								2022	2021
								Years	Years
Retiring today - Males								21.5	21.7
- Females								24.0	24.2
Retiring in 20 years - Males								22.4	22.6
- Females								25.7	25.9
Amounts recognised	in	the	Statement		of Financial		Activities	in respect of the defined	benefit
scheme are as follows:
								2022	2021
								E	E
Net interest on defined		benefit liabilities						17,000	14,000
Current service cost								49,000	30,000
								66,000	44,000

defined benefit plans are	as foll	ows:
					2022	2021
						E
Present value ofdefined	benefit	obligations			(1,998,000)	(2,128,000)
Fair value of plan assets					1,416,000	1,275,000
Deficit in scheme					(582,000)	(853,000)
Movements in the present	value	ofdefined	benefit	obligations;
Liabilities at 1April 2021						2,128,000
Current service cost						49,000
Interest cost						42,000
Contributions by scheme	participants					6,000
Benefits paid						(65,000)
Actuarial gains						(162,000)
Liabilities at 31 March 2022						1,998,000
Movements in the fair value of plan assets:
Fair value ofassets at 1April 2021						1,275,000
Interest income						25,000
Return on plan assets (excluding		amounts	included	in net interest)		123,000
Contributions by scheme	participants					6,000
Benefits paid						(65,000)
Contributions by the employer						52,000
Fair value ofassets at 31March		2022				1,416,000

The charity's share ofthe scheme assets at th	e reporting date were as follows:
	2022	2021
	E	E
Equity instruments	835,440	777,750
Bonds	410,640	331,500
Property	113,280	89,250
Cash	56,640	76,500
Total fair value ofassets	1,416,000	1,275,000

Reconciliation and an	alysis	of movement	offunds fo	r the year ended	31March 202	2:
					Pension	Balance at
	Balance at			Gains Erfund		31March
	IAprB 2022		Income	Expenditure	tsunsfesu	2022
		E	E	E	E
Restricted lUnds
Heritage fund		110,000				110,000
Leicester Rotary		55,125		(10,500)		44,625
TS Shipman		4,897		(933)		3,964
Biffa Grant		26,250		(5,000)		21,250
Big Lottery fund		197				197
Life Long Learning fund		28,300		(166)		28,134
Severn Trent Woodland
Workshop Grant Waddlikutes Field			3,779 17,600	(3,779) (2,890)		14,710
Total restricted funds		224,769	21,379	(23,268)		222,880
Unreslhcted funds
DeslBnated funds:
Development fund Vehicles renewals fund		123,637 137,627	1,031 30,969	(63,607) (29,995)	228,888	289(949 138,601
Equipment renewals	fund	54,468	27			54,495
Property maintenance fund		34,796	40	(14,745)	60,000	80,091
Memorial Wood
Development fund		155,456	59,416	(27,714)		187,158
Emergency expenditure fund					122,000	122,000
Total designated fund		505,984	91,483	(136,061)	410,888	872,294
General funds:
Revenue reserve		503,613	1,726,432	(1,427,554)	(134,468)	668,023
Fixed asset revaluation		496,736			(228,888)	267,848
Capital financing		47,532			(47,532)
Total general funds		1,047,881	1,726,432	(1,427,554)	(410,888)	935,871
Pension reserve		(853,000)		(14,000)	285,000	(582,000)
Total unrestricted funds		700,885	1,817,915	(1,577,615)	285,000	1,226,165
Total charity funds		925,634	1,839,294	(1,600,883)	285,000	1,449,045

prior year					Pension	Balance at
	Balance at 1April 2020		Income	gains Srfund Expenditure transfers		31March 2021
		d			E	E
Restricted funds
Heritage fund		110,000				110,000
Leicester Rotary		65,625		(10,500)		55,125
TS Shipman		5,830		(933)		4,897
Biffa Grant		31,250		(5,000)		26,250
Big Lottery Fund		197				197
Life Long Learning	Fund	28,300				28,300
Total restricted funds Un~ funds		241,202		(16,433)		224,769
Designated funds:
Development fund		121,357	2,280			123,637
Vehicles renewals fund		132,673	4,954			137,627
Equipment renewals	fund	54,441	27			54,468
Property maintenance
fund		42,427	17	(7,648)		34,796
Memorial Wood
Development fund		124,789	56,620	(25,953)		155,456
Total designated fund		475,687	63,898	(33,601)		505,984
General funds:
Revenue reserve		96,058	1,794,668	(1,387,113)		503,613
Fixed asset revaluation		496,736				496,736
Capital financing		47,532				47,532
Total general funds		640,326	1,794,668	(1,387,113)		1,047,881
Pension reserve		(622,000)		6,000	(237,000)	(853,000)
Total unrestricted funds		494,013	1,858,566	(1,414,714)	(237,000)	700,885
Total charity funds		735,215	1,858,566	(1,431,147)	(237,000)	925,634

Analysis ofn	et assets	hetareen	funds
			Restricted	DeslSnated	Geneml
			funds	funds	fund	Total
			E	E	E	E
Fund balances	at 31March 2022
are represented	by:
Fixed assets			179,839		738,237	918,076
Net current assets			43,041	643,406	426,522	1,112,969
Defined benefit	pension	scheme
liability					(582,000)	(582,000)
			222,880	643,406	582,759	1,449,045
			Restricted funds	Designated funds	General fund	Total
			E	F.	F.	F.
Fund balances	at 31 March 2021
are represented	by:
Fixed assets			196,272		884,854	1,081,126
Net current assets			28,497	505,984	163,027	697,508
Defined benefit	pension	scheme
liability					(853,000)	(853,000)
			224,769	505,984	194,881	925,634

The to	tal fu	ture minimum lease payments und	er non-cancellable operating leases are	as follows:
			2022	2021
			E	E
Within	one	year	2,073	2,073
Within	2-5	years	864	2,937
			2,937	5,010

At the year end, the charity had contracted wit leases, for the following future minimum lease	h tenants, under non-cancellable operat payments:	ing
	2022	2021
Amounts receivable:	E	E
Within one year	22,500
Within 2-5 years	73,125
	95,625

FORTHE	FORTHE	FORTHE	YEAR ENDED 31MARCH 2022 (CONTIN	YEAR ENDED 31MARCH 2022 (CONTIN	UED)
24. Shdnment ofFlnandal			Acthddes forthe year ended 31March		2021
				Unrestricted	Restricted
				fnnds	fends	Total
				E	E	E
Income from:
Donations and legacies				151,181		151,181
Charitable activities				1,625,672		1,625,672
Investment income				76,828		76,828
Other income				4,885		4,885
Total				1,858,566		1,858,566
RxpendRnm on:
Charitable activities:
Visitor services				883,713	8,217	891,930
Estate maintenance	and	management		531,001	8,216	539,217
Tonal				1,414,714	16,433	1,431 147
Net gains on investment	properties
Net income				443,852	(16,433)	427,419
Other recognised gains
Actuarial gains on defined		benefit
pension scheme				(237,000)		(237,000)
Net mcwement in fUnds				206,852	(16,433)	190,419