| PAGES | ||
|---|---|---|
| Trustees' Annual Report | 1to 4 | |
| Independent Auditor's |
Report to the Members | 5to9 |
| Statement ofFinancial | Activities | 10 |
| Statement ofFinancial | Position | 11 |
| Statement ofCash Flows | 12 | |
| Notes to the Financial | Statements | 13to21 |
| 2022 | 2022 | 2021 | ||||
|---|---|---|---|---|---|---|
| Unrestricted | ||||||
| funds | Total funds | Total funds | ||||
| Note | ||||||
| Income and endowments | ||||||
| Donations and legacies |
4 | 212,091 | 212,091 | 101,752 | ||
| Investment income |
5 | 267,384 | 267/84 | 455,833 | ||
| Total income | 479,475 | 479,475 | 557,585 | |||
| Expenditure | ||||||
| Expenditure on raising funds: |
||||||
| Investment management |
costs | 6 | (88,963) | (88,963) | (84,882) | |
| Expenditure on charitable |
activities | 7,8 | (1,224,999) | (1,224,999) | (1,137,849) | |
| Total expenditure | (1,313,962) | (1,313,962) | (1,222,731) | |||
| Net gains on investments | 11 | 416,240 | 416440 | 673,979 | ||
| Net (expenditure)/income | and net movement | in funds | (418,247) | (418,247) | 8,833 | |
| Reconciliation offunds | ||||||
| Total funds brought forward | 7,691,401 | 7,691,401 | 7,682,568 | |||
| Total funds carried forward | 7,273,154 | 7,273,154 | 7,691,401 |
| Note | 2022 | 2021 f |
||||
|---|---|---|---|---|---|---|
| FIXEDASSETS | ||||||
| investments | 15 | 4,960,329 | 7,000,851 | |||
| CURRENT ASSETS | ||||||
| Debtors | 17 | 967,963 | 747,421 | |||
| Cash at bank and in hand | 1,645,642 | 948,181 | ||||
| 2,613,605 | 1,695,602 | |||||
| CREDITORS: amounts | falling due | |||||
| withia one year | 18 | (300,780) | (511,752) | |||
| NET CURRENT ASSETS | 2312,825 | 1,183,850 | ||||
| TOTAL ASSETSLESSCURRENT | ||||||
| LIABILITIES | 7,273,154 | 8,184,701 | ||||
| CREDITORS: amounts | falling due | |||||
| after more than oae year | 19 | (493,300) | ||||
| NET ASSETS | 7,273,154 | 7,691 401 | ||||
| FUNDS OF THE CHARITY | ||||||
| Unrestricted funds |
7,273,154 | 7,691,401 | ||||
| Total charity funds | 21 | 7r273s154 | 7,691,401 |
| THE CHEDVA CHARITABLE TRUS STATEMENT OF CASH FLOWS YEARENDED 31MARCH 2022 |
T | |
|---|---|---|
| 2022 | 2021 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net (expenditure)/income | (418,247) | 8,833 |
| Adjustments for: | ||
| Net gains on investments | (416440) | (673,979) |
| Dividends, interest and rents from investments |
(267,244) | (454,709) |
| Other interest receivable and similar income |
(140) | (1,124) |
| Interest payable and similar charges | 4,227 | 10,735 |
| Expenditure on investment properties |
84,736 | 74,147 |
| Donations in kind |
(98,681) | |
| Changes in: | ||
| Trade and other debtors | (152,522) | |
| Trade and other creditors | (7,994) | (1,023) |
| Cash generated from operations |
(1,272,105) | (1,037,120) |
| Net cash used in operating activities |
(1,272,105) | (1,037,120) |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Dividends, interest and rents from investments |
97,041 | 344,908 |
| Expenditure on investment properties |
(78,242) | (73,552) |
| Proceeds from sale oftangible assets |
2,334,136 | |
| Purchases ofother investments | (7,410) | |
| Proceeds from sale ofother investments | 129,670 | 2,981 |
| Net cash from investing activities |
2,475,195 | 274,337 |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Proceeds from borrowings | 45,000 | |
| Repayments ofborrowings |
(505,694) | (145,261) |
| Interest paid | (304) | (4,010) |
| Net cash used in financing activities |
(505,998) | (104,271) |
| NET INCREASE/(DECREASE) IN CASH AND CASH |
||
| EQUIVALENTS | 697,092 | (867,054) |
| CASH AND CASH EQUIVALENTS AT BEGINNING OFYEAR | 948,181 | 1,815,235 |
| CASH AND CASH EQUIVALENTS AT END OF YEAR | 1,645,273 | 948,181 |
| DONATIO | NS AND LEGAC |
IES | |||
|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| DONATIONS | |||||
| Donations | received | 212,091 | 212,091 | 101,752 | 101,752 |
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | ||
| Income from investment | properties | 232,006 | 232,006 | 419,329 | 419,329 |
| Income from listed investments | 35,238 | 35,238 | 35,380 | 35,380 | |
| Bank interest receivable | 140 | 140 | 1,124 | 1,124 | |
| 267,384 | 267,384 | 455,833 | 455,833 |
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||
|---|---|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |||
| 8 | ||||||
| Property | management | expenses | 84,736 | 84,736 | 74,147 | 74,147 |
| Interest | payable and | similar charges | 4,227 | 4427 | 10,735 | 10,735 |
| 88,963 | 88,963 | 84,882 | 84,882 |
| 7. | EXPENDIT | URE ON CHARITABLE | ACTIVITIE | S BYFUND T | S BYFUND T | YPE | |
|---|---|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||
| Funds | 2022 | Funds | 2021 | ||||
| Grants paid | 1,210,000 | lo210,000 | 1,123,500 | 1,123,500 | |||
| Support costs | 14,999 | 14,999 | 14,349 | 14,349 | |||
| 1,224,999 | Io224,999 | 1,137,849 | 1,137,849 | ||||
| 8. | EXPENDITURE ON CHARITABLE | ACTIVITIES | BYACTIVITY TYPE | ||||
| Grant funding | Total funds | Total fund | |||||
| ofactivities | Support costs | 2022 | 2021 | ||||
| Grants paid | 1,210,000 | 1810,000 | 1,123,500 | ||||
| Governance | costs | 14,999 | 14,999 | 14,349 | |||
| 1,210,000 | 14,999 | 1/24,999 | 1,137,849 | ||||
| 9. | ANALYSIS | OF SUPPORT COSTS | |||||
| Support costs | Total 2022 | Total 2021 | |||||
| 6 | |||||||
| Governance | costs | 14,999 | 14,999 | 14,349 | |||
| 10. | ANALYSIS | OF GRANTS |
| NET GAINS | ON INV | ESTMENTS | ||||
|---|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||
| Funds | 2022 | Funds | 2021 | |||
| 5 | ||||||
| Gains/(losses) | on investment property |
34,136 | 34,136 | 551,842 | 551,842 | |
| Gains/(losses) | on listed | investments | 357,067 | 357,067 | 124,449 | 124,449 |
| Realised losses/(gains) | on disposal of | |||||
| investment assets |
25,037 | 25,037 | (2,312) | (2,312) | ||
| 416,240 | 416,240 | 673,979 | 673,979 | |||
| NET (EXPENDITURE)/INCOME | ||||||
| Net (expenditure)/income | is stated after charging/(crediting): | |||||
| 2022 | 2021 | |||||
| Fees payable | for the audit ofthe financial | statements | 12,500 | 12,500 |
| The charity did not meet any individual to the charity. INVESTMENTS |
expenses incur |
red by the tru |
stees for servi | ces provided |
|---|---|---|---|---|
| Listed | Investment | Other | ||
| investments | properties | investments | Total | |
| Cost or valuation | ||||
| At 1 April 2021 | 1,343,657 | 5,350,194 | 307,000 | 7,000,851 |
| Additions | 7,410 | 7,410 | ||
| Disposals | (104,999) | (2,300,000) | (2,404,999) | |
| Fair value movements | 357,067 | 357,067 | ||
| At 31March 2022 | 1,603,135 | 3,050,194 | 307,000 | 4,960,329 |
| Impairment | ||||
| At 1 April 2021 and 31March 2022 | ||||
| Carrying amount At 31March 2022 |
1,603,135 | 3,050,194 | 307,000 | 4,960829 |
| At 31March 2021 | 1,343,657 | 5,350,194 | 307,000 | 7,000,851 |
| The aggregate assets, liabilities, capital and reserv the charity as at 31March 2022 were as follows: |
es ofTenbest Limited that are at | tributable to |
|---|---|---|
| 2022 | 2021 | |
| f, | ||
| Fixed assets | 2,325,402 | 2,325,405 |
| Current assets | 830,510 | 824,160 |
| Current liabilities | (1,366,049) | (1,312,394) |
| Non-current liabilities |
(1,380,754) | (1,428,059) |
| Aggregate capital and reserves |
409,109 | 409,112 |
| year ended 31 | Mar | ch 2022 is as follows: | ||
|---|---|---|---|---|
| 2022 | 2021 | |||
| TulTlovel | 267,440 | 237,488 | ||
| Administrative | expenses | (203,619) | (170,311) | |
| Interest receivable | and similar income | 6 | 12 | |
| Interest payable | and similar expenses | (63,829) | (67,186) | |
| (2) | 3 |
| DEBTORS | YEARENDED 31MA | RCH 2022 | |
|---|---|---|---|
| 2022 | 2021 | ||
| Trade debtors | 241,048 | 231,565 | |
| Prepayments | and accrued income | 10,209 | 16,705 |
| Other debtors | 716,706 | 499,151 | |
| 967,963 | 747,421 |
| CREDITORS: amounts falling due within one ye |
ar | |
|---|---|---|
| 2022 | 2021 | |
| Bank loans and overdrafts | 12,394 | |
| Trade creditors | 9,150 | 9,150 |
| Accruals and deferred income | 53,346 | 197,289 |
| Social security and other taxes | 7,994 | |
| Other creditors | 238,284 | 284,925 |
| 300,780 | 511,752 |
| 19. | CREDITORS: amounts falling due after more t |
han one year | |
|---|---|---|---|
| 2022 | 2021 | ||
| Bank loans and overdrafts | 45,000 | ||
| Other creditors | 448,300 | ||
| 493,300 | |||
| 20. | DEFERRED INCOME | ||
| 2022 | 2021 | ||
| At 1 April 2021 | 90,031 | 97,185 | |
| Amount released to income | (90,031) | (97,185) | |
| Amount deferred in year | 40,846 | 90,031 | |
| At 31March 2022 | 40,846 | 90,031 |
| At | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| At | Gains and 31March 20 | |||||||||||
| 1 April 2021 | Income | Expenditure | losses | 22 | ||||||||
| General funds | 7,691,401 | 479,475 | (1,313,962) | 416,240 | 7073,154 | |||||||
| At | ||||||||||||
| At | Gains and 31March 202 | |||||||||||
| 1 April 2020 | Income | Expenditure | losses | 1 | ||||||||
| General funds | 7,682,568 | 557,585 | (1,222,731) | 673,979 | 7,691,401 | |||||||
| 22. | ANALYSIS OFNET ASSETSBETWEEN | FUNDS | ||||||||||
| Unrestricted | Total Funds | |||||||||||
| Funds | 2022 | |||||||||||
| 4 | ||||||||||||
| Investments | 4,960,329 | 4,960,329 | ||||||||||
| Current assets | 2,613,605 | 2,613,605 | ||||||||||
| Creditors less than | 1 year | (300,780) | (300,780) | |||||||||
| Creditors greater than | 1 year | |||||||||||
| Net assets | 7,273,154 | 7,273,154 | ||||||||||
| Unrestricted | Total Funds | |||||||||||
| Funds | 2021 | |||||||||||
| f | ||||||||||||
| Investments | 7,000,851 | 7,000,851 | ||||||||||
| Current assets | 1,695,602 | 1,695,602 | ||||||||||
| Creditors less than | 1 year | (511,752) | (511,752) | |||||||||
| Creditors greater than | 1 year | (493,300) | (493,300) | |||||||||
| Net assets | 7,691,401 | 7,691,401 | ||||||||||
| 23. | FINANCIAL INSTRUMENTS | |||||||||||
| The carrying amount for | each category offinancial | instrument | is as follows: | |||||||||
| 2022 | 2021 | |||||||||||
| Financial assets measured | at fair value through | income and | expenditure | |||||||||
| Financial assets measured | at | fair value through | income | and | ||||||||
| expenditure | 1,910,135 | 1,650,657 |
| At | At | ||||
|---|---|---|---|---|---|
| 1Apr 2021 | Movements | 31Mar | 2022 | ||
| 4 | 4 | ||||
| Cash | at bank and in hand | 948,181 | 697,461 | 1,645,642 | |
| Debt | due within one year | (12,394) | 12,394 | ||
| Debt | due after one year | (45,000) | 45,000 | ||
| 890,787 | 754,855 | 1,645,642 |
| The total as follows: |
future minimum lease payments receivable unde |
r non-cancellable operating |
leases are |
|---|---|---|---|
| 2022 | 2021 | ||
| Not later than 1 year |
65,000 | 54,958 | |
| Later than | 1year and not later than 5 years | 228,000 | 106,500 |
| Later than | 5 years | 26,625 | |
| 293,000 | 188,083 |