Charity Annual Report and Accounts 2021-22

The Christie Charitable Fund - 2021/22 Financial Statements

Notes to the financial statements

14 Contingencies 14.1 Contingent liability

During 2010/11 The Trustees of The Christie Charitable Fund approved a policy of accepting unclaimed legacy funds, whilst offering indemnities to solicitors for these funds. The repayment of these funds is classified as possible and not probable, therefore a contingent liability will be shown for all gifts where an indemnity is given. These will be held for five years from the date of the gift.

In 2021/22 the amount for which an indemnity has been provided is:

2021/22

2020/21

£000

£000

326

Indemnity held as contingent liability

302

15 Reconciliation of cash flows from operating activities to net incoming/(outgoing) resources 2021/22 2020/21 £000 £000

Net income/ (expenditure) Adjust for investment income

732

18,661

(46)

4

(Gain)/ loss on endowment investments

(4)

(107)

Gain on investment property

15

10

(Increase) in stocks Decrease in debtors

4

(13)

(550)

332

(Decrease)/increase in creditors due within 1 year (Decrease)/increase in creditors due more than 1 year Cash outflow from operating activities

(6,450) (4,220) (10,519)

(15,028) (5,390) (1,531)

16 Analysis of changes in net debt

Balance 31 March

Balance 31 March

Cash Flows

2022 £000

2021 £000

£000

48,354 48,354

Cash in hand and at bank Decrease in cash in the year

58,833 58,833

(10,479) (10,479)

(8)

Current asset investments

7

(15)

Total

48,346

58,840

(10,494)

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