2020-12-31-accounts - The Sulgrave Manor Trust

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Tt
rusees			Mr W Twiddy
			Mr N Way OBE
			Mrs V Bradshaw
			Mrs SCongdon
			Mr A Preston
			N Bowles
			Mrs C Hazard Goedhart
			Miss PScott	Reeve	(Appointed	8June 2020)
			Dr Huw David		(Appointed	3 February
					2020)
Charity number			1003839
Company	number		02627034
Registered		offic	Sulgrave Manor
			Manor Road
			Sulgrave
			Banbury
			Oxfordshire
			OX172SD
Independent		examiner	David Stevens BAFCA
			Ellacotts LLP
			Countrywide	House
			23 West Bar
			Banbury
			Oxfordshire
			England
			OX169SA
Bankers			Barclays Bank Pic
			32 Bridge Street
			Banbury
			Oxon
			OX16 5PN

			Page
Trustees report			1-3
Independent examiner's		report
Statement offinancial	activities		5-6
Balance sheet			7-8
Notes to the financial	statements		10-25

Current financial year							As Restated
			Unrestricted	Unrestricted	Restricted	Total	Total
			funds	funds	funds
			General	Fixed Asset
				Fund
income from:		Notes	2020 f	2020	2020	2020 6	2019
Donations and legacies Other trading activities Investments		2 3 4	242,676 1,740 14,330		390,827	633,503 1,740 14,330	460,950 12,756 13,109
Total income			258,746		390,827	649,573	486,815
~ddtt
Raising funds		5	5,102			5,102	28,226
Charitable activities		6	173,524	4,354	336,161	514,039	678,195
Total resources expended			178,626	4,354	336,161	519,141	706,421
Net gains/(losses) on investments		11		475,000		475,000	53,247
Net income/(expenditure)	forthe	year/
Net movement in funds			80,120	470,646	54,666	605,432	(166,359)
Fund balances at 1 January	2020		(5,918)	1,126,467	56,024	1,176,573	1,342,932
Fund balances at 31 December
2020			74,202	1,597,113	110,690	1,782,005	1,176,573

Prior financial	year					As Restated		As Restated
					Unrestricted	Unrestricted	Restricted	Total
					funds	funds	funds
					general	Fixed Asset
						Fund
					2019	2019	2019	2019
Income from:				Notes			6
Donations and legacies Other trading activities Investments					178,199 12,756 13,109		282,751	460,950 12,756 13,109
Total income					204,064		282,751	486,815
E~Ch
Raising funds				5	28,226			28,226
Charitable activities				6	199,593	8,541	470,061	678,195
Total resources expended					227,819	8,541	470,061	706,421
Net gains/(losses) on investments						53,247		53,247
Gross transfers between Net income/(expenditure)		funds for the year/			(16,592)	4,096	12,496
Net movement	in funds				(40,347)	48,802	(174,814)	(166,359)
Fund balances at 1 January			2019		34,429	1,077,665	230,838	1,342,932
Fund balances	at 31 December 2019				(5,918)	1,126,467	56,024	1,176,573

						2020	2019
							as restated
				Notes			6
Fixed assets
Tangible assets Investment properties Investments				12 14 15		7,111 1,590,000 2	11,465 1,115,000 2
						1,597,113	1,126,467
Current assets
Stocks Debtors Cash at bank and	in	hand		16 17	5,573 56,506 218,497		5,182 165,870 84,350
Creditors: amounts		falling due within			280,576		255,402
one year				18	(95,684)		(205,296)
Net current assets						184,892	50,106
Total assets less	current		liabilities			1,782,005	1,176,573
Income funds
Restricted funds Unrest icted funds Unrestricted funds	- -	Fixed Asset Fund eneral		19 20		110,690 1,597,113	56,024 1,126,467
Designated funds General unrestricted		funds		21	10,416 63,786		10,416 (16,334)
						74,202	(5,918)
						1,782,005	1,176,573

			Notes	2020 f		2019
Cash flows from operating		activities
Cash generated from/(absorbed by) operations			25		119,817		(189,931)
Investing activities
Purchase oftangible fixed Interest & rent received	assets			14,330		(4,096) 13,109
Net cash generated from activities	investing				14,330		9,013
Net cash used in financing		activities
Net increase/(decrease)	in	cash and	cash
equivalents					134,147		(180,918)
Cash and cash equivalents	at beginning		ofyear		84,350		265,268
Cash and cash equivalents		at end of	year		218,497		84,350


Donations and legacies						(Continued)
Donations and gifts
NSCDA Friends ofSulgrave	20,321		20,321	23,062	100	23,162
Manor Donation from subsidiary Other UK Donations Other	118,223 23,231 810 25,910	333,047 100	451,270 23,231 910 25,910	76,202 30,994 5,414	246 051	322 253 30,994 5,414
	188,495	333,147	521,642	135,672	246,151	381,823
Grants receivable for
core activities
Other	48,634	57,680	106,314	1,000	36,600	37,600
	48,634	57,680	106,314	1,000	36,600	37,600
Other trading activities
				Unrestricted		Unrestricted
					funds	funds
					general	general
					2020 6	2019f
Shop income Catering income Gardens					1,740	5,270 7,132
						354
Other trading activities					1,740	12,756

		Unrestricted	Unrestricted
		funds	funds
		general	general
		2020	2019
			6
Rental Interest	income receivable	14,273 57	12,739 370
		14,330	13,109

				Unrestricted	Unrestricted
				funds	funds
				general	general
				2020	2019
				8
Fun	raisin	and	ublicit
Advertising Other fundraising			costs	1,468 3,634	871 27,355
Fundraising		and	publicity	5,102	28,226
				5,102	28,226

				Preservatio	Preservatio
				n ofthe	n ofthe
				historic	historic
				manor	manor
				2020	2019
					8
	Property repairs and maintenance Legal and professional fees			15,677 229,338	166,487 182,917
				245,015	349,404
	Share ofsupport costs (see note 8) Share ofgovernance costs (see note 8)			250,608 18,416	309,878 18,913
				514,039	678,195
	Analysis by fund
	Unrestricted funds - General Unrestricted funds - Fixed Asset Fund Restricted funds			173,524 4,354 336,161	199,593 8,541 470,061
				514,039	678,195
7	Net movement in funds			2020f	2019
	Net movement in funds	is stated	after charging/(crediting)
	Depreciation ofowned	tangible	fixed assets	4,354	8,540

Support costs
	Support costs	Governance costs	2020	Support costs	Governance costs	2019
				f	f
Staff costs Depreciation Rates and water insurance Light and heat Telephone Printing and stationery Sundry expenses Staff travel &	143,236 4,354 11,327 19,873 11,904 1,858 22 808		143,236 4,354 11,327 19,873 11,904 1,858 22 808	168,244 8,540 9,614 16,811 15,211 3,306 732 1,150		168,244 8,540 9,614 16,811 15,211 3,306 732 1,150
development Computer costs irrecoverable VAT Bank charges	154 2,621 54,011 440		154 2,621 54,011 440	2,305 5,870 77,366 729		2,305 5,870 77,366 729
Accountancy		18,416	18,416		18,913	18,913
	250,608	18,416	269,024	309,878	18,913	328,791
Analysed between
Charitable activities	250,608	18,416	269,024	309,878	18,913	328,791

Number ofemployees The average monthly number ofemployees during	the year was:
	2020	2019
	Number	Number
	13	14
Employment costs	2020	2019
	E
Wages and salaries Social security costs Other pension costs	135,451 5,412 2,373	157,550 8,165 2,529
	143,236	168,244

Net gains((	los	ses) on in	vestments
					As Restated
				Unrestricted	Unrestricted
				funds	funds
				Fixed Asset	Fixed Asset
				Fund	Fund
				2020	2019
					5
Revaluation	of	investment	properties	475,000	53,247

Tangible Axed assets
		Plant and	Fixtures and	Total
		equipment	fittings
Cost
At 1 January 2020		114,412	117,650	232,062
At 31 December 2020		114,412	117,650	232,062
Depreciation and impairment
At 1 January 2020 Depreciation charged	in the year	113,672 138	106,925 4,216	220,597 4,354
At 31 December 2020		113,810	111,141	224,951
Carrying amount
At 31 December 2020		602	6,509	7,111
At 31 December 2019		740	10,725	11,465
Heritage assets

Investment property
		2020
Fair value		na
At 1 January 2020 -As Restated Net gains or losses through fair value adjustments		1,115,000 475,000
At 31 December 2020
		1,590,000

14	investment property		(Continued)
		2020	2019
		6	6
	Freehold Longleasehold	1,590,000	1,115,000
	Shortleasehold
15	Fixed asset investments
			Other
			investments
	Cost or valuation
	At 1 January 2020 &31 December 2020
	Carrying amount
	At 31 December 2020
	At 31 December 2019

	Other investments comprise:	Other investments comprise:	Notes	2020 6	2019 6
	investments	in subsidiaries	24
16	Stocks
				2020	2019
					6
	Finished goods and goods for resale			5,573	5,182
17	Debtors
	Amounts falling due within one year:			2020 6	2019 6
	Trade debtors Other debtors			10,793	33,329
	Prepayments	and accrued income		45,713	108 132,433
				56,506	165,870

Creditors: amounts falling due within one year
	2020	2019
	6
Other taxation and social security Trade creditors Amounts owed to subsidiary undertakings Other creditors Accruals and deferred income	1,650 24,859 59,614 430 9,131	2,887 141,131 53,134 713 7,431
	95,684	205,296

The income funds	ofthe chanty indude	funds comprising the	following unexpended balances	following unexpended balances	cfdonations	cfdonations	cfdonations	and grants	held on Wst for spemfic	held on Wst for spemfic	purposes:
		6 ls at 1J nusnr2010	Movement in funds incoming Rcc rcc n Ufcc fm d 4		T	cf r	a 1J nv	lane l ry 2020	Movement Inccmi 0 rce Urcc	In funds R 0 p seed	Ssl 0 t 31 O cc ee
									f	f	2020 8
Flnnis Scott Garden Friends CED Fund Manor Restoration Kiln Yard Sendford Award GVV Exhibition NLHF Emergency Fund		13,781 9,383 187213 29,275 1,743 9,443	38,062 207,999 36,700	(13,781) (37,692) (386,715) (430) (14) (31.429)		12.496		9.743 993 28,845 1.729 14.714	37,944 242,168 66.433	(37,587) (251,490) (47,084)	10.100 (8,331) 28,845 1,729 34,063
Business Development	Ofhcer								22,400		22,400
									21,884		21,884
		230,838	282,751	(470,061)	12,496			56,024	390.827	(336,161)	110,890

						THE S	THE S	THE S	THE S	THE S	ULGRAVE MANOR TRUST	ULGRAVE MANOR TRUST	ULGRAVE MANOR TRUST	ULGRAVE MANOR TRUST	ULGRAVE MANOR TRUST	ULGRAVE MANOR TRUST
						NOTES TO THE					FINANCIAL STATEMENTS (CONTINUED)
								FOR THE YEAR ENDED				31	DECEMBER		2020
19	Restricted funds
																				(Continued)
	Finnis Scott Garden
	A grant was received		from the Finnis Scott Charity restricted						to specific garden proiects external				in 2013.
	Fnends CEO Fund
	This fund was founded		with monies donated				by The Friends		ofSulgrave Manor to			support the salary of			the CEO	for three years.
	Manor Restoration
	This fund was formed		in	relation	to manor works			consisting	of		and Internal	works to the Manor.
	Kiln Yard
	This fund was formed		to	enable	the development			of Kiln Yard.
	Sandford Award
	Agrant was received	in order to			develop	informal		teaming resources.
	GW Exhibition
	This fund was formed		to	develop	a dedicated		George Washington				Exhibition
	Ht HF Emergency Fund
	This fund was formed new ways.		usirig grant funding			to enable site openirig					despite COVtO	restrictions		and to assist with		developing	methods	of engaging	with audierices		in
	Business Oevelopment			Officer
	This fund was formed ongomg operations of	using grant the trust.			funding	to aflow the trust to				employ a BOO fo carry cut an endcwmeni					building	campaign	to secure	funds ofwhich		will support	the

		1	Balance at January 2019	Resources expended	Revaluations, gains snd1 losses	Balance at January 2020 -As Restated		Resources expended	Revaluations, gains and losses	Balance at 31 December 2020
					-As Restated
		f	f	f	f		f
Fixed	Asset
Fund			1,077,665	(8,541)	53,247	1,126,467		(4,354)	475,000	1,597,113

							Movement
							in funds
			1	Balance at January 2019	Transfers 1	Balance at January 2020	Incoming resources	Balance at 31 December
								2020
Lenfest	Building	Fund		22,912	(12,496)	10,416		10,416
				22,912	(12,496)	10,416		10,416

Analysis ofnet assets between
	Unrestricted	Fixed Asset Funds	Restricted	Total	Unrestricted	Fixed Asset Funds	Restncted	Total - As Restated
						-As
						Restated
Fund balances at 31December 2D20 are	2020	2020 8	2020 8	2020 8	2019 6	2019 6	2019 2	2019
represented by:
Tangible assets investment properties investments Current assets/(liabilities)		7,111 1,590,000 2 7.113	110,69D	7,111 1.590.000 2 184,892	(5.918)	11,465 1.115,000 2	56,024	11,465 1,115,DDD 2 50,106
	67,089	1,604,226	110,690	1,782,005	(5918)	1,126,467	56,024	1,176,573

Name ofundertaking		Registered	Registered		Nature of	business	business	business		Class of	Class of	% Held	% Held
		office								shares	held	Direct	Indirect
Sulgrave Manor Trading		Sulgrave	Manor, Management				of	Courtyard	8	Ordinary		100.00
Company Ltd		Sulgrave,			Hall ofSulgrave			Manor
		Banbury,
		Oxfordshire,
		OX172SD
Cash generated from	operations										2020f		2019 f
Surplus/(deficit) for the	year									605,432			(166,359)
Adjustments for:
Investment income recognised in statement					offinancial	activities					(14,330)		(13,109)
Fair value gains and losses		on investment			properties					(475,000)			(53,247)
Depreciation and impairment		oftangible		fixed assets							4,354		8,540
Movements in working	capital:
(Increase) in stocks											(391)		(5,182)
Decrease/(increase) in	debtors									109,364			(165,870)
(Decrease)/increase in	creditors									(109,612)			205,296
Cash generated from/(absorbed by)			operations								119,817		(189,931)

Changes to the balance sheet
	At 31	December 2019
	As previously	Adlustment	As restated
Fixed assets	reportedf		8
Investment properties	2,365,000	(1,250,000)	1,115,000
Capital funds
Income funds
Restricted funds Fixed Asset Fund Unrestricted funds	56,024 2,376,467 (5,918)	(1,250,000) -	56,024 1,126,467 (5,918)
Total equity	2,426,573	(1,250,000)	1,176,573
Changes to the profit and loss account
	Period ended 31December		2019
	As previously	Adjustment	As restated
	reportedf		f
Net gains on investments	1,303,247	(1,250,000)	53,247
Net movement in funds	1,083,641	(1,250,000)	(166,359)