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