Trust Annual Report 2010

 

THE CITY OF WINCHESTER TRUST LIMITED REPORT OF THE COUNCIL AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2010

 

FURTHER NOTES TO THE ACCOUNTS

 

10 TANGIBLE FIXED ASSETS

 

  Leasehold
Property
Fixtures
and fittings
Office
Equipment
Total
  £ £ £ £
Cost and valuation (V) (V)      
At 1 April 2009 395,000 19,074 12,150 426,224
Additions - - - -
At 1 April 2010 395,000 19,074 12,150 426,224
         
Depreciation        
At 1 April 2009 4,488 16,303 11,058 31,849
Charge for the year 4,488 693 273 5,454
At 31 March 2010 8,976 16,996 11,331 37,303
         
Net Book Value        
At 31 March 2010 386,024 2,078 819 388,912
         
At 31 March 2009 390,512 2,771 1,092 394,375

 

Leasehold property included at valuation would have been included on a historical cost basis at 31 March 2010 with Cost £172,586, Depreciation to date £19,684 and Net Book Value £152,902.

 

The leasehold property was revalued at 31 March 2008 by Dreweatt Neate, surveyors and valuers (Carter Jonas).

 

11 FIXED ASSET INVESTMENTS

 

  31 March 2010 31 March 2009
  £ £
Listed investments 128,860 61,940
Cash balances 3,779 42,656
  132,639 104,596
Listed investments    
Market value at 1 April 2009 61,940 125,939
Additions 39,948 353
Disposals (578) (40,300)
Change in market value 27,550 (24,052)
Market value at 31 March 2010 128,860 61,940
     
Historical cost at 31 March 2010 99,151 59,780

 

12 STOCKS

 

  31 March 2010 31 March 2009
  £ £
Goods purchased for resale 901 998
(Christmas cards, notecards, publications)    
     

 

13 DEBTORS

 

  £ £
Due within one year:    
Other debtors 2,531 2,338
Prepayments 1,093 1,117
  3,624 3,455

 

14 CREDITORS

 

  £ £
Due within one year:    
Accruals 2,224 1,892
  2,224 1,892

 

15 ANALYSIS OF FUNDS

 

         
Unrestricted Funds        
Designated Funds        
    Tangible Fixed Assets 388,921   394,375  
    investments 125,637   99,609  
    Chippingdale Fund for Education 727   721  
    Total Designated Funds   515,285   494,705
         
Undesignated funds   52,616   45,532
Restricted Fund        
   Alder bequest re Trust Archives 7,002   4,806  
Publications Fund -   1,250  
    7,002   6,506
    574,903   546,293

 

Included in unrestricted funds are investments amounting to £11,175 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.

 

16 COMMITMENTS FOR FUTURE EXPENDITURE

 

There were no material commitments either at the beginning or at the end of the year.