THE CITY OF WINCHESTER TRUST LIMITED
REPORT OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
31 MARCH 2004
| Unrestricted Funds 2004 |
Restricted Funds 2004 |
Total Funds 2004 |
Total Funds 2003 | |
| Income: | £ | £ | £ | £ |
| Donation and legacies (note 2) | 477 | - | 477 | 377 |
| Grants, subscriptions and Gift Aid (note 3) | 6,890 | - | 6,890 | 7,621 |
| Investment income, including rental (Note 4) | 14,757 | 308 | 15,065 | 15,618 |
| Fund raising (Note 5) | 3,051 | - | 3,051 | 2,769 |
| Total Income | 25,175 | 308 | 25,483 | 26,385 |
| Expenditure | ||||
| Cost of generating funds (note 6) | 1,233 | - | 1,233 | 825 |
| Charitable expenditure: | ||||
| Project and activities expenditure (note 7(c)) | 4,473 | 488 | 4,961 | 4,215 |
| Management and administration of the charity (note 7(d)) | 16,194 | 37 | 16,231 | 16,647 |
| Letting expenses | 802 | - | 802 | 1,186 |
| Property expenditure | 814 | - | 814 | 457 |
| Depreciation | 5,393 | - | 5,393 | 3,899 |
| Total Expenditure | 28,909 | 525 | 29,434 | 27,229 |
| Net income/(expenditure) for the year | (3,734) | (217) | (3,951) | (844) |
| Other recognised gains and losses | ||||
| Gains/losses on revaluation and disposal of investments (see note 10) | 8,207 | 1,343 | 9,550 | (21,378) |
| Gain on revaluation of property | - | - | - | 184,369 |
| 8,207 | 1,343 | 9,550 | 162,991 | |
| Net Movements in Funds | 4,473 | 1,126 | 5,599 | 162,147 |
| Funds balances brought forward at 1 April 2003 | 462,940 | 4,717 | 467,657 | 305,510 |
| Fund balances carried forward at 31 March 2005 |
467,413 | 5,843 | 473,256 | 467,657 |
| Notes | 31 March 2004 £ |
31 March 2004 £ |
31 March 2003 £ |
31 March 2003 £ | |
| Fixed assets | |||||
| Tangible assets(leasehold, building, functional - office, investment - 2flats) |
8 | 351,123 | 356,516 | ||
| Investments(equity, bonds) | 9 | 105,565 | 95,270 | ||
| 456,688 | 451,786 | ||||
| Current assets | |||||
| Stocks | 10 | 190 | 659 | ||
| Debtors | 11 | 1,012 | 902 | ||
| Cash on deposit and at bank | 16,541 | 16,308 | |||
| 17,743 | 17,869 | ||||
| Creditors | 12 | (1,175) | (1,998) | ||
| Net current assets | 16,568 | 15,871) | |||
| NET ASSETS | 473,256 | 467,657 | |||
| FUNDS | |||||
| Unrestricted - designated | 13 | 450,857 | 447,069 | ||
| Unrestricted - undesignated | 13 | 16,568 | 15,871 | ||
| 467,425 | 462,940 | ||||
| Restricted | 14 | 5,831 | 4,717 | ||
| 473,256 | 467,657 | ||||
Total designated funds include a properly revaluation reserve of £184,369 (2003: £184,369)
The company is entitled to exemption from audit under Section 249A(2) of the Companies Act 1985 for the year ended 31 March 2004.
The Council has confirmed that no notice has been deposited requiring the company to obtain an audit of its financial statements for the year ended 31 March 2004 in accordance with Section 249B(2) of the Companies Act 1985.
The Council acknowledges its responsibility for:
- ensuring that the company keeps accounting records which comply with Section 221 0f Companies Act 1985 and
- preparing financial statements which give a true and fair view view of the state of affairs of the company as at the end of the financial year and its profit or loss for each financial year in accordance with the requirements of Section 226 and which otherwise comply with the Companies Act 1985 relating to financial statements, so far as applicable to the company.
These financial statements have been prepared in accordance with the special provisions of Part VII of the Companies Act 1985 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective June 2002)
ON BEHALF OF THE COUNCIL
signed Mrs P Edwards
(Council Member)
6th July 2004
signed P H Racliffe
(Council Member)
6th July 2004