| Report ofthe Trustees | I to 3 | |
|---|---|---|
| Independent Examiners |
Report to the Trustees | |
| Statement ofFinancial | Activities | |
| Balance Sheet | ||
| Notes to the Financial | Statements | 7to IO |
| Total | Total | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | funds | funds | ||
| funds | funds | 2023 | 2022 | ||
| INCOMING RESOURCES | Notes | I | |||
| Investment income: |
|||||
| Rent receivable | 64,320 | 64,320 | 61,655 | ||
| Dividends and interest |
121,213 | 121,213 | 119,788 | ||
| TOTALINCOMINGRKSOURCES | 185,533 | - | 185,533 | 181,443 | |
| RESOURCKSEXPENDED | |||||
| Cost ofgenerating funds |
3 | 31,010 | 31,010 | 27,644 | |
| Charitable Activities: |
|||||
| School scholarships, grants for clothing, |
|||||
| book vouchers and donations |
259,631 | 259,631 | 196,492 | ||
| Apprenticeships | 4,171 | 4,171 | 2,322 | ||
| 263,802 | - | 263,802 | 198,814 | ||
| Direct and Support Costs: | |||||
| Administrative and general expenses |
4 | 29,488 | 29,488 | 25,998 | |
| TOTALRESOURCESEXPENDED | 324,300 | 324,300 | 252,456 | ||
| NET OUTGOING RESOURCES | |||||
| Before other recognised gains and losses |
(138,767) | (138,767) | (71,013) | ||
| GAINS ON INVESTMENTS | |||||
| Realised (loss)/gains on investments |
(22,166) | (22,166) | 27,561 | ||
| Unrealised (loss)/gains on investments |
(255,654) | (255,654) | 133,122 | ||
| Realised gain on investment properties |
65,830 | ||||
| NET MOVEMENT IN FUNDS | (138,767) | (277,820) | (416,587) | 155,500 | |
| BALANCES BROUGHT FORWARD | 222,208 | 4,956,559 | 5,178,767 | 5,023,267 | |
| BALANCES CARRIED FORWARD | 83,441 | 4,678,739 | 4,762,180 | 5,178,767 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Note | |||||
| FIXEDASSETS | |||||
| Tangible assets: | |||||
| Investment properties |
1,205,000 | 1,205,000 | |||
| Investments | 3,474,469 | 3,685,575 | |||
| 4,679,469 | 4,890,575 | ||||
| CURRENT ASSETS | |||||
| Debtors | 49,559 | 125,771 | |||
| Cash at bank and in hand | 43,128 | 171,996 | |||
| 92,687 | 297,767 | ||||
| CREDITORS: AMOUNTS FALLING | |||||
| DUE WITHIN ONE YEAR | 8 | 9,976 | 9,575 | ||
| NET CURRENT ASSETS | 82,711 | 288,192 | |||
| TOTAL ASSETSLESSCURRENT | |||||
| LIABILITIES | f4,762,180 | 65,178,767 | |||
| RESERVES | |||||
| Restricted funds |
4,678,739 | 4,956,559 | |||
| Unrestricted funds |
83,441 | 222,208 | |||
| 4,762,180 | g5,178,767 |
| year. Re-imbursement ofexp |
year. Re-imbursement ofexp |
year. Re-imbursement ofexp |
enses tot | alling FNII were paid in the year. |
|
|---|---|---|---|---|---|
| COST OFGENERATING | FUNDS | ||||
| 2023 | 2022 | ||||
| E | |||||
| Managing Agents fee |
11,963 | 8,033 | |||
| Portfolio Management | fee | 19,047 | 19,611 | ||
| $31,010 | f27,644 | ||||
| ADMINISTRATIVE | AND | GENERAL EXPENSES | |||
| Clerk's fees, expenses | and postage | 16,520 | 16,520 | ||
| Independent Examiner's |
fees | 3,630 | 3,270 | ||
| Property repairs |
5,343 | 3,305 | |||
| Heating, lighting and Council |
Tax | 23 | 207 | ||
| Insurance | 1,822 | 1,748 | |||
| Professional fees |
1,689 | 568 | |||
| Sundries | 81 | ||||
| Payments to Yardley Charities Estates |
Almshouses: | ||||
| Annual payments under |
detertnination | order | |||
| of5 June 1908 | 380 | 380 | |||
| f29,488 | f25,998 | ||||
| TANGIBLE ASSETS | |||||
| - INVESTMENT PROPERTIES | |||||
| At valuation | |||||
| At 31 March 2022 | 1,205,000 | 1,268,750 | |||
| Additions at cost |
|||||
| Revaluation | |||||
| Less: Disposals | (63,750) | ||||
| At 31 March 2023 | f.1,205,000 | f1,205,000 |
| 6. | INVESTMENTS | |||||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| Investments | 83,474,469 | 83,685,575 | ||||
| Quoted investments | ||||||
| Market value at 31 March | 2022 | 3,685,575 | 3,544, 133 | |||
| Add: | ||||||
| Additions at cost |
578,589 | 532,777 | ||||
| Less: | ||||||
| Disposal proceeds | (511,875) | (552,018) | ||||
| Add: | ||||||
| Realised (losses)/gains Unrealised (losses)/gains |
on revaluation | (22,166) (255,654) |
27,561 133,122 |
|||
| Market value at 31 March | 2023 | 83,474,469 | $3,685,575 | |||
| Cost at 31 March 2023 | 83,209,595 | 63,003,364 | ||||
| Unrealised gains included at 31March 2023 |
in valuation | 6264,874 | f682,211 | |||
| UK listed investments are represented by: UK Bonds and other fixed interest securities |
467,767 | 426,380 | ||||
| UK Equities Non-UK Equities and Overseas Bonds |
Bonds | 649,617 1,911,384 396,601 |
1,050,421 1,846,870 361,904 |
|||
| Cash Product | 49,100 | |||||
| Total | f3,474,469 | 83,685,575 |
| Amounts falling due within one year: |
||
|---|---|---|
| Due from Stockbrokers Due from Managing Agents Debtors and prepayments |
34,013 13,321 2,225 |
113,188 10,681 1,902 |
| 649,559 | f.125,771 |
| 8. | CREDITORS: AMOUNTS | FAILING DUE | FAILING DUE | ||
|---|---|---|---|---|---|
| WITHIN ONE YEAR | |||||
| 2023 | 2022 | ||||
| Accrued expenses | 5, 130 | 4,950 | |||
| Rental income and insurance | recharged | in advance | 4,846 | 4,625 | |
| K9,976 | K9,575 |
| ANALYSI | S OF | NET ASSE | TSBETWEE | N FUNDS | ||
|---|---|---|---|---|---|---|
| Net | ||||||
| Investment | current | |||||
| properties | Invesnnents | assets | Total | |||
| Restricted | funds: | |||||
| - Capital Fund | 1,205,000 | 3,159,225 | 314,514 | 4,678,739 | ||
| Unrestricted | funds: | |||||
| Accumulated | Income Fund | 315,244 | (231,803) | 83,441 | ||
| 1,205,000 | 3,474,469 | 82,711 | 4,762,180 |