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THE CITY OF WINCHESTER TRUST LIMITED
REPORT OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
31 MARCH 2003

  Unrestricted
Funds
2003
Restricted
Funds
2003
Total
Funds
2003
Total
Funds
2002
Income: £ £ £ £
Donation and legacies (note 1) 377 - 377 230
Grants, subscriptions and Gift Aid (note 2) 7,621 - 7,621 7,563
Investment income, including rental (Note 3) 15,295 323 15,618 15,736
Fund raising (Note 4) 2,769 - 2,769 2,515
Total Income 26,062 323 26,385 26,044
         
Expenditure        
Cost of generating funds (note 5) 825 - 825 436
Charitable expenditure:        
  Project expenditure 4,215 - 4,215 1,812
  Management and administration of the charity (note 6(c)) 16,606 41 16,647 15,927
Letting expenses 1,186 - 1,186 873
Property expenditure 457 - 457 190
Depreciation 3,899 - 3,899 4,378
Total Expenditure 27,188 41 27,229 23,616
         
Net income/(expenditure) for the year (1,126) 282 (844) 2,428
         
Other recognised gains and losses        
Gains/losses on revaluation and disposal of investments (17,866) (3,429) (21,378) (665)
Gain on revaluation of property 184,369 - 184,369 -
166,483 (3,492) 162,991 (665)
         
         
Net Movements in Funds 165,357 (3,210) 162,147 1,763
         
Funds balances brought forward at 1 April 2002 297,583 7,927 305,510 303,747
         
Fund balances carried forward
at 31 March 2003
462,940 4,717 467,657 305,510


BALANCE SHEET AS AT 31st MARCH 2003

  Notes 31 March 2003
£
31 March 2003
£
31 March 2002
£
31 March 2002
£
Fixed assets          
Tangible assets(leasehold,
building, functional - office,
investment - 2flats)
7   356,516   175,261
Investments(equity, bonds) 8   95,270 115,119
      451,786   290,380
           
Current assets  
Stocks 9 659 624
Debtors 10 902   779  
Cash on deposit and at bank 16,308 15,137
    17,869   16,540  
           
Creditors 11 (1,998) (1,410)
           
Net current assets 15,871   15,130
NET ASSETS     467,657   305,510
           
           
FUNDS  
Unrestricted - designated 12 447,069
Unrestricted - undesignated 12 15,871
      462,940   297,583
Restricted 13 4,717   7,927
      467,657   305,510
           

Designated funds include a properly revaluation reserve of £184,369 (2002: Nil)

These financial statements have been prepared in accordance with the special provisions of Part VII of the Companies Act 1985 frelating to small companies.

The financial statements were approved by the Council of Management and signed on its behalf by:

signed Roger Backhouse
(Council Member)
17th September 2003

signed Captain I F Grant
(Council Member)
17th September 2003