COMPANY REGISTRATION NUMBER: N1042978 CHARITY REGISTRATION NUMBER: XR22318 Hanwood Trust Company Limlted Company Limited by Guarantee Financial Statements 31 March 2023
Hanwood Trust Company Limited Company Limited by Guarantee Financial Ststements Year ended 31 March 2023 Pago Trustees, annual report (incorporating the director's report) Independent auditor's report to the members Statement of financial activities (including income and expenditure account) Statement of financial position 10 11 Notes to the financial statements 12
Page 1 Hanwood Trust Company Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 March 2023 The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2023. Roference and admlnlstratlv8 detalls Reglstered charlty name Hanwood Trust Company Limited Charlty rogl8tratlon number Company regl8tratlon number N1042978 Prlnclpal offlce and regl8tered Hanwood Centre Kinr088 Avenue offlco Tullycamet Belfast Antrim BT5 7GE XR22318 The tru8tee• MrHKDFlynn Mr S Douglas Mr J White Mr P Carland MrBRea Mrs C Birch Mr J Blrch Company secretary Mrs C BlrGh Audltor Johnston Graham Limited Chartered accountants & statutory audltor 2161218 Holywo¢)d Road Belfast BT41PD Structure, governance and management Govemance of the Charlty The charity is controlled by its governing document, a deed of trust, and constltutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Related parties Belfast City Council is a related party of Hanwood Trust Company Limited by virtue of lease agreements which exist beeen Belfast City Council and the company on land and premises at Kinross Avenue, Tullycarnet. Risk management The directors have assessed the major risks to which the charity is exposed, in particular those related to the operations and fInanS of the charity, and are satisfied that the systems are in place to mitigate any exposure to the major risks.
Page 2 Hanwood Trust Company Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnued) Yaar ended 31 March 2023 Objectlves and actlvltles The objectives of the company as stated in the Memorandum of Association are the promotlon for the public benefr't of rural or urban regeneration and advancement of community development in areas of economic, physical and social deprivation and in particular, Tullycarnet by all or any of the following means: The relief of poverty in such ways as may be thought fit The relief of unemployment in such ways as may be thought fit, including assistance to find employment. The advancement of education, trainlng or retraining, particularly among unemployed people and providing unemployed peopl8 with work experlance. The provision of finanGSal 8SSiStance, technical assistance or business advice or consultancy in order to provide training and employment opportunities for unemployed people In cases of financial or other charity need through help., (i)in setting up their own busine88 (ii)to existing business88 The creation of training and employment opportunltles by the provlslon of work space, buildings andlor land for use In favourable terms; - The malntenance, improvement or provislon of public amenities., The advancement of amateur sport and the provision or assistance In the provlslon of recreatlonal facilities for the public at large or those who by reason of their youth, age, ill-health or disability, financlal hardship or social and economic circumstances, have need of such facilit168', The preservation and protection of health; - The advancement of community development., The promotlon of rellglous and raclal harmony and equality and diversity and Such other means as may from time to time de determined subject to the prlor wrltten consent of the Charity Commlssion for Norther Ireland. In support of these objectives, each year the company makes in klnd donations In support of community health initiatives and room hire. During the year ended 31 March 2023, the value of these haritable donations amounted to £43,000.
Page 3 Hanwood Trust Company Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directorf8 Report) (Gonllnued) Year ended 31 March 2023 Achlevements and performance Our last AGM was held on June 8th, 2022. At that meeting, we discussed how we had all emerged from the pandemic and were on the road to normality. The Hanwood Trust Board supported our tenants by reducing their rent by 500/0 and 25 % during various stages of total and partial lockdown. This helped us retain all of our tenants during that unprecedented time. However, with the rising costs of fuel, energy, rates, and living expenses, we face even greater challenges. We need to be prepared to spring into action with innovative financial and non-financial ideas to assist the community, tenants, and customers. FUNDING We contlnue to apply for funding, but it's becoming increasingly difficult 8S the avallable funding Is Ilmited, and the number of applicants has Increased. Nevertheless, we have be8n successful in securing various sources of funding for program delivery. The Trust does not generate any profit from funding packages. However, the finance provided enables us to run programs and services for local people. The Community Fund, whlch was set up to support communlty groups in the area with funding, has been hlghly successful. It has assisted local groups with food parcels, events, and emergency funds. Also durlng the last financial period the Board of the Hanwood Trust have introduced a Communlty Fund to asslst community groups In the area with funding if needed. The fund is set up and managed by the Hanwood Trust and 50Yo of any surplus made in a financial year (up to £5000) wlll go back into the local community after application appraisal and submission to the Trust from Tullycarnet Community Collective. PHASE 1 (Maln Building) and PHASE 3 (Sports Pitch and Gym) The football pitch Is now operating at full capacity, wlth the local Tullycarnet team occupying more slots due to their increased numb8rs. This is a posltlve development for the IoGal community and th6 Ghildren and adults involved with the team. Unfortunately, we lost the Football Academy this year due to lower enrolment numbers and restructuring of thelr organlsation. There has been a steady increase In fitness suite membership numbers each month, and we now have nearly 200 members per month. This is 8 signlficant Improvement from last year, when we had double-digit numbers at some stages, PHASE 2 Phase 2 of the Hanwood Business Park is currently 1000h occupied. Unfortunately, we lost one of our long-term tenants, Belfast Music, who had been with us for 13 years. However, another tenant, whose business is expanding, has taken up their two units. The rising costs of fuel. transportation, and living expenses, as well as Brexit, continue to affect our tenants and I feel the Hanwood Board should continue to explore ways to assist our tenants during this uncertain period. PHASE 4 Phase 4 is operating smoothly, and the Henderson's Group run a different operation than the smaller independent owners. However, they are up to date on all payments.
Page 4 Hanwood Trust Company Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnuedj Year ended 31 March 2023 The Hanwood Board members and staff work tirelessly to ensure the sustainability of the Hanwood development. It's incredible to think that a piece of wasta ground now accommodates 30 buslnesses and a sports complex, employing 176 people. Our most significant challenge in the immediate future is the ongolng price increases that may eventually affect our tenants and their customers. As a Board, we are prepared to assist our tenants, customers, and community when necessary. Flnanclal revlow Income for the year totalled £284,517 Includlng £92,793 received as grant Income. Total expendlture on charltable activities was £380,932 giving an overall deficit of £99,803 for the financial year. InGluded within the deficit is £99,803 of depreciation relatlng to the property whlch has been Included In the accounts as restrlcted funds. The company showed a small surplus of £3,389 for the year relating to Its unrestrlcted funds. ReseNes pollcy The Gharlty's pollcy Is to retaln a level of reseNes, which matches the needs of the organisatlon both at the current tlme and In the foreseeable future. The trustees have determined that it would be appropriate for the charity to hold a minimum unrestrlcted equlvalent to 6 months total operating costs and will continue to monltor compllance wlth thls pollcy on a regular basls and review the appropriateness of the pollcy annually. TrusteO8' responslbllltles Statement The trustees, who are also directors ft)r the purp08es of company law, are responslble for preparlng the trustees, report and the financial statements In accordance with appllcable law and Unlted Kingdom Accounting Standards (Unlted Kingdom Generally Accepted Accounting Practice). Company law requlres the charlty trustees to prepare financial statements for each year whlch glve a true and falr view of the state of affairs of the charitable company and the Incoming resources and application of resources, including the Income and expenditure, for that period. In preparlng these financlal statements, the trustees are requlred to.. select sultable accountlng policies and then apply them consistently; observ6 the methods and princlples in the applicable Charlties SORP; make judgments and accounting estimates that are reasonable and prudent. prepare the financlal statements on the going concern basis unless it Is inapproprfate to presume that the Gharity will continue in business.
Page 5 Hanwood Trust Company Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 March 2023 The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Audftor Each of the persons who is a trustee at the date of approval of thls report contlrms that: so far as they are aware, there Is no relevant audit Information of which the charity's auditor is unaware., and they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audlt information and to establish that the charity's auditor Is aware of that Information. The auditor Is deemed to hav8 been re-appolnted In accordance with section 487 of the Companies Act 2006. Small company provlslon8 This report has been prepared in accordance with the provlsions applicable to companles entitled to the small companies exemption. The trustees, annual report was approved on 28 June 2023 and signed on behalf of the board of trustees by.. Mrs C Blrch Charity Secretary
Page 6 Hanwood Trust Company Limited Company Limlted by Guarantee Independent Auditor's Report to the Members of Hanwood Trust Company Limited Year ended 31 March 2023 Oplnlon We have audited the financial statements of Hanwood Trust Company Limited (the 'charity') for the year ended 31 March 2023 which comprise the statement of financial activities (including income and expenditure account), statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied In their preparation Is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable In the UK and Republic of Ileland (Unlted Klngdom Generally Accepted Accounting Practice). In our oplnion the financial statements: give a true and fair vlew of the state of the charity's affalrs as at 31 March 2023 and of Its incoming resources and appllcation of resources, Including Its Sncome and expendlture, for the year then ended. have been properly prepared In accordance wlth United KSngdom Generally Accepted Accounting Practice., have been prepared In accordance wlth the requlrements of the Companies Act 2008. Ba818 for oplnlon We conducted our audit in accordance with International Standards on Audltlng (UK) (ISAS (UK)) and applicable law. Our responsibilities under thosa standards are further described In the audltor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audlt of the financial statements in the UK, Including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilitles In accordance with these requlrements. We believe that the audit evldence we have obtained is sufficient and approprlate to provlde a basis for our opinion. Conclu81on8 relatlng to golng concern In auditing the financlal statements, we have concluded that the trustees, use of the going concern basis of accounting In the preparation of the financial statements is appropriate. Based on the work we have performed, we have not Identified any material uncertainties relating to events or conditions that, individually or colSectively, may cast signiflcant doubt on the charity's ability to continue as a going concern for a period of at least e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to golng concern are descrlbed in the relevant sections of this report.
Page 7 Hanwood Trust Company Limited Company Limited by Guarantae Independent Auditor's Report to the Members of Hanwood Trust Company Limited fcontinued) Year ended 31 March 2023 Other Infomiatlon The other infomiation comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon, In connection with our audit of the financial statements, our responslblllty is to read the other Information and, in doing so, considèr whether the other information is materially Inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materlally misststed. If we identify such materlal inconslstencies or apparent material mlsstatements, we are required to determlne whether there is a material misststement In the financial statements or a material mlsstatement of the other information. If, based on the work we have performed, we conclude that there Is a materlal misstatement of this other information, we are required to report that fact. We have nothin9 to report In this regard. Oplnlons on other matter8 prescrlbed by the Companles Act 2006 In our oplnlon, based on the work undertaken in tha course of the audlt.. the information given in the trust8es' report for the flnancial year for whlch the financial statements are prepared Is consistent with the financial statements,. and the trustees, report has been prepared In accordance wlth applicable legal requirements. Matters on whlch we are requlred to report by exc8ptlon In the Ilght of the knowledge and understanding of the Gharlty and Its environment obtained In th8 course of the audlt, we have not identified material misstatements in the trustees, report. We have nothing to report in respect of the following matters In relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not vlsited by us., or the financial statements are not in agreement with the accounting records and retums. or certain disclosures of trustees, remuneration specified by law are not made, or we have not received all the Information and explanations we require for our audit; or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the direGtors' report and from the requirement to prepare a strategic report.
Page 8 Hanwood Trust Company Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Hanwood Trust Company Limited (continued) Year ended 31 March 2023 Re8pon8ibllltles of tru8te88 As explained more fully In the trustees, responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial ststements, the trustees are responsible for assessing the charity's ablllty to continue as a going concern, disclosing, as applicable, matiers related to going concern and using the going concern basis of accounting unless the trustees either Intend to liquidate the charity or to cease operatlons, or have no realistlc altematlve but to do so. Audltorfs respon81bllltle8 for the audlt of the flnanclal 8tatemont8 Our objectives are to obtain r8asonabl8 assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance Is a high level of assurance, but Is not a guarantee that an audit conducted in accordance wlth ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements, Irregulariti88, including fraud, are Instances of non-compliance wlth laws and regulatlons. We deslgn procedures Sn line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, Including fraud. The extent to which our procedure8 are capable of detecting irregularities, Including fraud is detailed below.. As part of the audit process we obtalned an understandlng of the legal and regulatory framework applicable to the entity, being FR102, Companies Act 2006 the UK taxation regime and compliance with regulations in relation to the Coronavirus Jobs Retention Scheme and the Coronavirus Buslness Interruptlon Scheme. In addition, we assessed the risks of material fraud through enquires with management and those charged with corporate governance and analytical procedures were used to assess any unusual or or unexpected relationships. AS Wlth all organisation of this slze, there remains an inherent difficulty In the detection of Irregularities. A further description of our responsibilitles for the audit of financial statements Is located on the FRC'S website at w.frc.Org.Uklaudlt0rsreSponSlbllitleS As part of an audit In accordance wlth ISAS (UK), we exercise professional judgment and maintain professional sceptiGism throughout the audit. We also: Identify and assess the risks of material mlsstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
Page 9 Hanwood Trust Company Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Hanwood Trust Company Limited (contlnued) Year anded 31 March 2023 Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the approprlateness of the trustees, use of the going concem basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern, If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evldence obtained up to the date of our auditor's report. However, future events or condltions may cause the charity to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, Including tha disclosures, and whether the financial statements represent the underlying transactlon8 and events In a manner that achieves fair presentation. We communicate with those charged wlth governanc8 regardlng, among other matters, the planned scope and timing of the audit and slgnificant audlt findlngs, Includlng any slgnificant deficlencles in intemal control that we identify during our audlt. U8• of our report This report is made solely to the charlty's members, as a body, In accordance wlth Chapter 3 of Part 18 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and ft)r no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed. MS E MULHOLLAND (Senlor Statutory Auditor) For and on behalf of Johnston Graham Llmited Chartered accountants & statutory auditor 2161218 Holywood Road Belfast BT41PD 28 June 2023
Page 10 Hanwood Trust Company Limited Company Limited by Guarantee Statement of Financial Actlvlties (including income and expenditure account) Year endad 31 March 2023 2023 Restricted fund8 Total fund8 Total funds 2022 Unrestricted funds Note Income and endowment8 Charitable activities Income from other trading activities Total Income 64,348 191,724 256,070 28,447 92,793 191,724 284,517 88,929 167,525 256,454 28,447 Expendlture Expenditure on charitable activities Total expendlturo 252,682 252,682 128,250 128,250 380.932 380,932 361,268 361,268 Not expendlturo and nat movomont In fund8 3,388 (99,803) {96,415) (104,814> Reconclllatlon of fund8 Total funds brought forward Total funds carrled fOard 157,315 160,703 2,676,103 2,576,300 2,833,418 2,737.003 2,938,232 2,833,418 The statement of financial activltlas Includes all galns and losses recognlsed In the year. All income and expenditure derive from contlnuing actlvlties. The notes on paggs 12 to 18 fomi part of these flnancial ststements.
Page11 Hanwood Trust Company Limited Company Limited by Guarantee Statement of Financial Position 31 March 2023 2023 2022 Note Flxed assets Tangible fixed assets 13 2,582,131 2,660,184 Current asset8 Debtors Cash at bank and in hand 14 12,162 252,048 264,210 24,891 238,825 261,716 Credltor8: amounts falllng duo wlthln one yoar Net current a8S8t8 15 89,338 88,482 173,234 2,833,418 174,872 2,737,003 Total a880ts 1088 curront Ilabllltlas Fund8 of the charlty Restricted funds Unrestricted funds 2,576,300 160,703 2,737,003 2,676,103 157,315 2,833,418 Totsl charlty fund8 16 These financial statements have been prepared in accordance wlth the provlslons appllcable to companies subject to the small companies, reyime. These financlal statements were approved by the board of trustees and authorised for Issue on 28 June 2023, and are signed on behalf of the board by.. MrBRea Trustee Mr J IA+hlte Trustee The notes on pages 12 to 18 forni part of theso financial statements.
Page 12 Hanwood Trust Company Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2023 Goneral infomiatSon The charity is a publlc benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is Hanwood Centre Klnross Avenue, Tullycarnet, Belfast, Antrim, BT5 7GE. statemont of compllanco These financial ststements have been prepared In compliance wlth FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Ststement of Recommended Practice applicable to charities preparing their aecounts in accordance with the Financial Reporting Standard applicable in th8 UK and Republic of Ireland {FRS 102) {Charlties SORP (FRS 102>) and the Companies Act 2006. Accountlng pollcles Ba818 of praparatlon The financial statements have been prepared on the historical cost basis, as modified by the revaluatlon of certaln financial assets and liabllltles and investment properties measured at fair value through Income or expenditure. The financlal statements are prepared in sterling, which Is the functional currency of the entlty. Golng concern Ther8 are no materlal uncertaintles about the charity's ability to continue. Judgement8 and key source8 of 88tlmatlon uncortalnty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the lated actual outcome. The key assumptions and other sources of estimatlon uncertainty that have a significant risk of causing a material adjustment to the carrylng amounts of assets and liablllties within the next financial year are as follows.. Fund accountlng Unrestricted funds are available for use at the discretlon of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for partlcular future project or commltment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall Into one of two sub-classes: restricted Income funds or endowment funds.
Page 13 Hanwood Trust Company Limited Company Limited by Guarantee Notes to the Financial Ststements (contlnuod) Year ended 31 March 2023 Accountlng pollcles (conllnued) Incomlng resource8 All incoming resources are included in the statement of financial activities when entitlement has passed to the charity., it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to partlcular categories of income: income from donations or grants is recognised when there Is evidence of entltlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when recelpt Is probable and entitlement Is establlshed. Income from donated goods Is measured at the falr value of the goods unless this 18 Impractical to measure rellably, in whlch case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and seNices are recognlsed in the accounts when received If the value Gan be reliably measured. No amounts are Included for the contribution of general volunteers. income from contracts for the supply of services Is recognlsed wlth the delivery of the contracted service. Thls Is classified as unrestricted funds unless there is a contractual requirement for It to be spent on a particular purpose and returned if unspent, in which case It may be regarded as restrlcted. R8source8 expended Expenditure is recognlsed on an accruals basls as a liabillty is Incurred. Expendlture includes any VAT which cannot be fully recovered, and is classified under headings of the statement of flnancial activities to whiGh it relates., expenditure on raislng funds includes the costs of all fundralslng actlvltSes, events, non-charitable trading activitles, and the sale of donated goods. expenditure on charltable actlvltles Includes all costs incurred by a charity In undertaking activitles that further Its charitsble aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned beeen the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets All fixed assets are initially recorded at cost.
Page 14 Hanwood Trust Company Limited Company Limitsd by Guarantee Notes to the Financial Statements (¢onllnu•d) Year énded 31 March 2023 Accountlng pollcles (contlnued) Dopre¢latlon Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows,. Freehold propety Fixtures and flttings 20/0 Straight line 20% reducing balance Impalrment of flxed assets A review for indicators of impairment Is carried out at each reporting date, wlth the recoverable amount being estimated where such indicators exist. ere the carrying value exceeds the recoverable amount, the asset is impaired aordinglY. Prior impairments are also reviewed for posslble reversal at each reporting date. For the purposes of Impalrment testing, when It is not posslble to estimate the recoverable amount of an Individual asset, an estimate Is made of the recoverable amount of the cash-generatlng unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business comblnatlon Is, from the acquisltlon date, allocated to each of thè cash-generating units that are expected to benefit from the synergies of the combination, IrrespeGtive of whether other assets or liabilities of the charity are assigned to those unlts. Llmltod by guarantee The company is limited by guarantee and has no authorised or Issued share capital. The company has charitable status accepted by the Inland Revenue under reference XR22318. Charltable actlvltles Unrestricted Restricted Total Fund8 Funds Funds 2023 other funding BCC 28,447 28,447 64,346 92,793 64,346 64,346 28,447 Unrestricted Funds Restricted Total Funds Funds 2022 Other funding BCC 9,891 19,038 9,891 79,038 60,000 60,000 28,929 88,929
Page 15 Hanwood Trust Company Limited Company Limited by Guarantea Notes to the Financial Statements (continued) Year ended 31 March 2023 Incomo from other trading actlvlties Unrestricted Funds Restricted Total Funds Funds 2023 Other income Room hire Rent Sports pitch rental Fitness suite income Phase 4 rental Job Retention Scheme 503 4,806 105,099 29,069 17,147 35,100 503 4.806 105.099 29,069 17,147 35,100 191,724 191,724 Unrestrlct8d Funds Restricted Totsl Funds Funds 2022 other income Room hire Rent Sports pltch rental Fltness sulte Income Phase 4 rental Job Retention Scheme 170 6,394 84,960 23,020 12,180 35,100 170 8,394 84,960 23,020 12,180 35,100 5,701 167,525 5,701 5,701 161,824 Expendlture on charltsble actlvltl88 by fund type Unrestricted Funds Re8tricted Totsl Fund8 Funds 2023 Costs of generating funds Property management costs Local projects Donations Support costs 213,904 27,235 6,292 99,803 22,155 220.196 127,038 22,155 1,790 9,753 380,932 1,790 9,753 252,682 128,250 Unrestricted Funds Restricted Total Funds Funds 2022 Costs of generating funds Propety management costs Local projects Donations Support costs 191,829 19,242 17,437 100,294 17,193 209,266 119,536 17,193 3,150 12,123 361,268 3,150 12,123 226,344 134,924
Page 16 Hanwood Trust Company Limited Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2023 Expondlture on charltable actlvltles by actlvlty type Activitie8 undertaken directly Support costs Total funds 2023 Total fund 2022 Costs of generating funds Charitable activities costs Property management costs Local projects Donations Governance costs 220,196 220,196 1,220 127,038 22,155 1,790 8,533 380,932 209,266 3,878 119,536 17,193 3,150 8,245 361,268 1,220 127,038 22,155 1,790 8,533 9,753 371,179 Net expendlturo Net expenditure Is Stated after charglngl(credltlng): 2023 2022 Depreciation of tsnglble fixed assets 99,803 101,548 10. Audltorn romuneratlon 2023 2022 Fees payable for the audit of the flnanclal statements 3,250 3,155 11. Staff co$t• The average head count of employees during the year was 7 (2022: 7). The average number of full-time equivalent employees during the year is analysed as follows: 2023 2022 No. No. Number of staff No employee received employee benefits of more than £60,000 during the year (2022: Nil). 12. Trustoe remuneratlon and expense8 No trustees received remuneration or other benefits through employment with the charity.
Page 17 Hanwood Trust Company Limited Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2023 13. Tanglble flxed a880ts Land and Fixtures and buildings fittings Total C08t At 1 April 2022 Additions 4,450,597 262,373 1,750 264,123 4,712,970 1,750 4,714,720 At 31 March 2023 4,450,597 Depreclatlon At 1 April 2022 Charge for the year At 31 March 2023 1,860,146 89,012 1,949,158 192,640 10,791 2,052,786 99,803 2.152,589 203,431 Carrylng amount At 31 March 2023 2,501,439 2,590,451 60,692 2,562,131 2,660,184 At 31 March 2022 69,733 14. Debtors 2023 2022 Trade debtors Other debtors 5,822 6,340 12.162 17,112 7,779 24,891 15. Credltors: amounts falllng due wlthln ono year 2023 2022 Trade creditors Social security and other taxes Other creditors 5,796 9.055 74,487 89,338 13,781 8,391 66,330 88,482
Page 18 Hanwood Trust Company Limited Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2023 16. Analys18 of charitable fund8 Unre8trlcted funds At J1 March 202 At 1 April 2022 Income Expenditure General funds 157,315 256,070 (252,682) 160,703 At 31 March 202 At 1 April 2021 Income Expenditure General funds 161,835 221,824 (226,344) 157,315 Re8trlcted funds At 31 March 202 At 1 April 2022 Income Expendlture Restrlcted Fund 2,676,103 28,447 (128,2501 2,576,300 At 31 March 202 At 1 Aprll 2021 Income Expendlture Restricted Fund 2,776,397 34,630 (134,924) 2,676,103 17. Analy818 of net a88ets betweèn fund8 Unrestrlcted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net assets 2,562,131 2,562,131 264,210 (89,338) 2,737,003 284,210 (89,338) 174,872 2,562,131 Unrestricted Funds Restricted Total Funds Funds 2022 Tangible fixed assets Current assets Creditors less than 1 year Net assets 2,660,185 15,918 2,660,185 261,712 (88,483) 2,833.414 245,794 (88,483) 157,311 2,676,103