THE CITY OF WINCHESTER TRUST LIMITED
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
9 TANGIBLE FIXED ASSETS
| Long Leasehold |
Fixtures and fittings |
Office Equipment |
Totals | |
| £ | £ | £ | £ | |
| COST OR VALUATION | ||||
| At 1 April 2023 and 31 March 2024 | 570,000 | 47,145 | 13,925 | 631,070 |
| Depreciation | ||||
| At 1 April 2023 | - | 42,127 | 13,426 | 55,553 |
| Charge for the year | - | 1,255 | 125 | 1,380 |
| At 31 March 2023 | - | 43,382 | 13,551 | 56,933 |
| Net Book Value | ||||
| At 31 March 2024 | 570,000 | 3,763 | 374 | 574,137 |
| At 31 March 2023 | 570,000 | 5,018 | 499 | 575,517 |
Cost or valuation at 31 March 2024 is represented by:
| Long Leasehold |
Fixtures and fittings |
Office Equipment |
Totals | |
| £ | £ | £ | £ | |
| Previous valuations upto 2018 | 317,414 | - | - | 317,414 |
| Valuation in 2023 | 80,000 | - | - | 80,000 |
| Cost | 172,586 | 47,145 | 13,925 | 233,656 |
| 570,000 | 47,145 | 13,925 | 631,070 |
If the long leasehold had not been revalued it would hve been included at the following historical cost:
| 2024 | 2023 | |||
| £ | £ | |||
| Cost | 172,586 | 172,586 | ||
| Aggregate depreciation | 44,086 | 42,343 | ||
| Net book amount | 128,500 | 130,243 |
The long leasehold property is included at a valuation made at 31 March 2023 by Carter Jonas, surveyors and valuers.
10 FIXED ASSET INVESTMENTS
| Listed investments |
Cash and settlements pending |
Totals | ||
| £ | £ | £ | ||
| MARKET VALUE | ||||
| At 1 April 2023 | 232,752 | 1,427 | 234,179 | |
| Additions | 57 | - | 57 | |
| Disposals | (252) | (56) | (308) | |
| Revaluationss | 27,555 | - | 27,555 | |
| Reclassification/transfer | - | (1,295) | (1,295) | |
| At 31 March 2024 | 260,112 | 76 | 260,188 | |
| At 31 March 2023 | 232,752 | 1,427 | 234,179 |
There were no investment assets outside the UK.
At 31 March 2024 the cost of listed investments was £212,129 (2023 - £212,386).
11 STOCKS
| 2024 | 2023 | |||
| £ | £ | |||
| Books and cards | - | 461 |
12 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2024 | 2023 | |||
| £ | £ | |||
| Other debtors | 1,765 | 4,954 | ||
| Prepayments and accrued income | 2,338 | 2,823 | ||
| 4,103 | 7,777 |
13 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2024 | 2023 | |||
| £ | £ | |||
| Accrued expenses | 3,485 | 6,237 |
14 MOVEMENT IN FUNDS
| At 1/4/23 | Net movement in funds |
At 31/3/24 | ||
| £ | £ | £ | ||
| Unrestricted Funds | ||||
| General Fund | 853,314 | 31,788 | 885,102 | |
| Restricted Funds | ||||
| Restricted Fund | 9,163 | (554) | 8,609 | |
| TOTAL FUNDS | 862,477 | 31,234 | 893,711 |
Net movement in funds, included in the above are as follows:
| Incoming resources |
Resources expended |
Gains and losses |
Movement in funds |
|
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 36,752 | (32,180) | 27,216 | 31,788 |
| Restricted funds | ||||
| Restricted fund | 318 | (1,212) | 340 | (554) |
| TOTAL FUNDS | 37,070 | 33,392 | 27,556 | 31,234 |
Comparatives for movement in funds
| At 1/4/22 | Net movement in funds |
At 31/3/23 | ||
| £ | £ | £ | ||
| Unrestricted Funds | ||||
| General Fund | 783,420 | 69,894 | 853,314 | |
| Restricted Funds | ||||
| Restricted Fund | 9,309 | (146) | 9,163 | |
| TOTAL FUNDS | 792,729 | 69,748 | 862,477 |
Comparative net movement in funds for 2022/2023, included in the above are as follows:
| Incoming resources |
Resources expended |
Gains and losses |
Movement in funds |
|
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 35,636 | (32,623) | 66,881 | 69,894 |
| Restricted funds | ||||
| Restricted fund | 270 | (21) | (395) | (146) |
| TOTAL FUNDS | 35,906 | (32,644) | 66,486 | 69,748 |
Included in unrestricted funds are investments amounting to £34,919 (2023 - £33,733) which are designated funds set aside for the purpose of replacing the Trust's premises on expiry of the lease. lt is the Trust's policy to hold the fund for the duration of the 99 year lease.
15 RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.