| Elmley Foundation(The) | Elmley Foundation(The) | ||||||
|---|---|---|---|---|---|---|---|
| Statement ofFinancial Activities | |||||||
| (Incorporating | an Income and Expenditure | Account) | |||||
| for | the Year Ended 6th April 2021 | ||||||
| 2021 | 2020 | ||||||
| Unrestricted | Total | ||||||
| funds | funds | ||||||
| Notes | 6 | ||||||
| INCOME AND ENDOWMENTS | FROM | ||||||
| Donations and legacies |
35,000 | 175,000 | |||||
| Income from Investments | 212,044 | 245,914 | |||||
| Total | 247,044 | 420,914 | |||||
| EXPENDITURE ON | |||||||
| Raising funds | |||||||
| Investment management |
costs | 26,747 | 28,518 | ||||
| 26,747 | 28,518 | ||||||
| Charitable activities |
|||||||
| Grants issued | 187,075 | 287,465 | |||||
| Support costs | 59,398 | 77,565 | |||||
| Total | 273,220 | 393,548 | |||||
| Net gains/(losses) on investments |
761,562 | (316,121) | |||||
| NET INCOME/(EXPENDITURE) | 735,376 | (288,755) | |||||
| RECONCILIATION | OF | FUNDS | |||||
| Total funds brought | forward | 3.740,044 | 4,028,799 | ||||
| TOTAL FUNDS CARRIED FORWARD | 4,475~20 | 3,740,044 |
| Elmley Foundation( | The) (Registered number: 01 |
959978) | ||
|---|---|---|---|---|
| Balance Sheet | ||||
| 5th April 2021 | ||||
| 2021 | 2020 | |||
| Unmstricted | Total | |||
| funds | funds | |||
| Notes | 6 | |||
| FIXEDASSETS | ||||
| Investments | ||||
| Investments | 14 | 2,348.992 | 1;908,849 | |
| Invessnent property |
15 | 2,440,000 | 2,120,000 | |
| 4,7ee,aa2 | 4,028,849 | |||
| CURRENT ASSETS | ||||
| Debtom | 10,555 | 17,177 | ||
| Cash at bank | 70,381 | 63,770 | ||
| 80,936 | 80,947 | |||
| CREDITORS | ||||
| Amounts falling due within one year |
17 | (296,758) | (180,706) | |
| NET CURRENT ASSETS | (215,822) | (99,759) | ||
| TOTAL ASSETSLESSCURRENT LIABILITIES | 4,573,170 | 3,929,090 | ||
| CREDITORS | ||||
| Amounts falling due afler mom than one year |
18 | (97,760) | (189,046) | |
| NETASSETS | 4475rl20 | 3,740,044 | ||
| FUNDS | 19 | |||
| Unrestricted funds: |
||||
| General unrestricted | fund | 4)475)420 | 3740044 | |
| TOTAL FUNDS | 4,475/20 | 3,740,044 |
| Elmley Foundation(yhe) | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Notes tothe Financial Statements - continued | ||||||||||||||
| forthe Year Ended 5th April 2021 | ||||||||||||||
| ACCOUNTING POLICIES - continued |
||||||||||||||
| TANGIBLE FIXEDASSETS | ||||||||||||||
| Tangible fixed asset additions are not capitalised iftheir cost is less than f100. |
||||||||||||||
| LISTED INVESTMENTS | ||||||||||||||
| Listed investments am stated at market value. Increases/(decreases) on revaluations |
of | listed | investments | are | ||||||||||
| transferred to/(from) the Statement ofFinancial Activities. |
||||||||||||||
| INVESTMENT PROPERTY | ||||||||||||||
| Investment properties are stated at market value. Increases/(decreases) |
on | revaluations | of | investment | ||||||||||
| properties are transferred to/(from) the Statement of Financial Acfivities. |
||||||||||||||
| TAXATION | ||||||||||||||
| The company isa registered charity and is not liable to corporation tax. |
||||||||||||||
| FUND ACCOUNTING | ||||||||||||||
| Unrestricted general funds are funds which can be used in accordance |
with | the | charitable | objects | at | the | ||||||||
| discretion ofthe trustees. | ||||||||||||||
| CASH AT BANK | ||||||||||||||
| Cash at bank indudes cash and short term highly liquid investments with a short |
maturity | ofthree | months | or | less | |||||||||
| from the date ofacquisition or opening ofthe deposit or similar acoount. |
||||||||||||||
| FINANCIAL INSTRUMENTS | ||||||||||||||
| The charity has elected to apply the provisions of Section 11' Basic Financial |
Instruments' | and Section 12 | 'Other | |||||||||||
| Financial Instruments Issues' ofFRS 102to afi ofits financial instruments. |
||||||||||||||
| Financial instruments are recognised when the charity becomes party to contractual |
provisions | ofthe | instrurnenf | |||||||||||
| Financial assets ara offset, with the net amounts presented in the accounts where |
there | is a legally | enforceable | |||||||||||
| right to set olf the recognised amounts and there is an intenfion to setfie on |
a | net | basis | or to realise the | asset | |||||||||
| and settle the liability simultaneously. | ||||||||||||||
| Basic Financial Assets | ||||||||||||||
| Basic financial assets, which include trade and other receivables and cash |
and | bank | balances, | are | initially | |||||||||
| measured at transacfion price induding transacfion costs and are subsequently carried the effective interest method unless the arrangement constitutes a financing transaction, |
at amortissd cost using where the transaction is ' .. |
|||||||||||||
| measured at the present value ofthe future receipls discounted at a market rate |
of | interest. | ||||||||||||
| Basic Financial LiabiliTies |
||||||||||||||
| Basic financial liabilities, induding trade and other payables, are iniTially recognised |
at | transaction | pri'ce | unless | ||||||||||
| the arrangement constitutes a financing transacfion, where the debt instrument is of future receipts, discounted at a market rate of interest. Debt instruments |
measured at the present value are subsequently carried at, |
|||||||||||||
| amorfised cost, using the effecbve interest rate method. |
||||||||||||||
| Trade payables are obligations to pay for goods or services that have been |
acquired | in | the ordinary | course | of | |||||||||
| the operations from suppliers. Accounts payable are classified as current liabilities |
if | payment is |
due | witliin | one | |||||||||
| year or less. If not, they are presented as non-current liabilities. Trade payables |
are | recognised | initially | af | ||||||||||
| transaction cost. |
||||||||||||||
| CRITICAL ACCOUNTING JUDGEMENTS AND KEYSOURCES OF ESTIMAllON |
UNCERTAINTY |
| Notes | tothe Financial Statements | tothe Financial Statements | -continued | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| forthe Year | Ended 5th April | 2021 | |||||||||
| DONATIONS | AND LEGACIES | ||||||||||
| 2021 | 2020 | ||||||||||
| 6 | 2 | ||||||||||
| Donation | from | Countess Beauchamp | Charitable | Trust | 35,000 | 160,000 | |||||
| Donations from individuals |
15,000 | ||||||||||
| 35,000 | 175,000 | ||||||||||
| 5. | INCOME FROM INVESTMENTS | ||||||||||
| 2021 | 2020 | ||||||||||
| 6 | 6 | ||||||||||
| Rents receivable | 121,535 | 166,557 | |||||||||
| Income from listed investments | 90,490 | 79,342 | |||||||||
| Bank interest | 19 | 15 | |||||||||
| 212,044 | 245,914 | ||||||||||
| INVESTMENT | MANAGEMENT COSTS | ||||||||||
| 2021 | 2020 | ||||||||||
| 6 | |||||||||||
| Property | management | costs | 13,944 | 13,442 | |||||||
| Properly | repaim | 4,410 | 6,666 | ||||||||
| Property | rates | and water | 3,748 | 4,911 | |||||||
| Property | utilities | 633 | 446 | ||||||||
| Property | insurance | 2,262 | 2,331 | ||||||||
| Property | advertising | 250 | 500 | ||||||||
| Legal and professional | fees | 1,500 | |||||||||
| 26,747 | 28,516 | ||||||||||
| 7. | CHARITABLE | ACTIVITIES | COSTS | ||||||||
| Grant | |||||||||||
| funding | of | ||||||||||
| activities | Support | ||||||||||
| (see note | costs (see | ||||||||||
| 8) | note 9) | Totals | |||||||||
| 6 | F | ||||||||||
| Grants issued | 187,075 | 187,075 | |||||||||
| Support | costs | 59,398 | 59,398 | ||||||||
| 187,075 | 59,398 | 248,473 |
| GRANTS PAYABLE | ||||||
|---|---|---|---|---|---|---|
| The aggregate grants |
paid | during the year | were as follows: | |||
| 2021 | 2020 | |||||
| 6 | ||||||
| Elmley Small Grants | Arts | Fund | 4,800 | 30,341 | ||
| (see note below) | ||||||
| Main Programme: | ||||||
| Combined Arts |
||||||
| Courtyard Centre ForThe |
Arts | 10,000 | 10,000 | |||
| Forge Mill Needle Museum | 2,000 | |||||
| New Leaf Sustainability | 1,500 | |||||
| Sevem Arts | 4,500 | |||||
| Thames Festival Trust | 3,000 | |||||
| Worcester Arts Workshop | 6,000 | |||||
| Worcester Live Charitable | Trust Limited | 3,500 | ||||
| Dance | ||||||
| 2Faced Dance Company | 4,600 | 19,000 | ||||
| Everybody Dance |
2,000 | |||||
| Film and Media | ||||||
| Borderlines Film Festival |
10,000 | 10,000 | ||||
| Rural Media Charity | 6,000 | |||||
| Lherature | ||||||
| Ledbury Poetry Festival |
15,000 | 15,000 | ||||
| Music | ||||||
| Autumn in Malvern Festival |
2,000 | |||||
| Bromsgrove Concerts |
2,500 | |||||
| Bromsgrove International |
Young Musicians' | Compeotion | 3,500 | |||
| Hagley PCC | 2,000 | |||||
| Hereford Cathedral (Chorister) |
9,500 | 6,500 | ||||
| Orchestra ofThe Swan | 10,000 | 10,000 | ||||
| Pershore Midsummer | Brass | 1,000 | ||||
| Presteigne Festival |
10,000 | 10,000 | ||||
| The Midland Sinfonia |
2,000 | |||||
| Upton Jazz Association | Ltd | .3,500 | ||||
| Worcester Cathedral | 6,184 | 9,000 | ||||
| Worcester Concert Club | 1,750 | 1,750 | ||||
| Wye Valley Chamber | 1,000 | |||||
| Theabe | ||||||
| Fetch Theatre Company | 3,500 | |||||
| Great Malvern Priory |
2,000 | |||||
| Herefordshire County Council |
5,000 | |||||
| Malvern Theatres | 12,000 | |||||
| Open Sky Productions | 3,000 | 6,000 | ||||
| Shakespeare School |
1,000 | |||||
| Vamos Theatm | 3,500 | 5,000 | ||||
| Worcester Arts Workshop | 2,000 | |||||
| Visual Arts and Crafts | ||||||
| Hereford College Of Music | 6,000 | |||||
| Institute Of International | 3,000 | |||||
| Meadow Ads | o,ooo | |||||
| National Trust | 5,000 | |||||
| Museum ofRoyal Worcester |
7,500 | 7,500 |
| GRANTS PAYABLE - continued | ||
|---|---|---|
| Students | ||
| Alloy - Hereford Jewellers Group | 500 | |
| Hereford College ofArts | 4,200 | |
| National Youth Orchestra ofGreat Britain |
5,000 | |
| National Youth Choir ofGreat Britain |
3,966 | 1,400 |
| Grants to individual students |
33,500 | 36,275 |
| Total grants paid in year | 161,374 | 266,304 |
| Elmley Small Grants Aria Fund | Elmley Small Grants Aria Fund | Elmley Small Grants Aria Fund | Elmley Small Grants Aria Fund | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Grants paid under the |
Small | Grants | Arts | Fund | in the current | year | indude grants |
paid | to: Heightington | Village | ||||
| Hall, PCC Malvern Link, |
Prince Henry's |
Evesham | Arts Theatre | Trust, The |
Festival | Players | and The | Word | ||||||
| Associafion. | ||||||||||||||
| GRANTS APPROVED AND OFFERED Bi/T NOT YETPAID | ||||||||||||||
| 2021/22 | 2022/23 | 2023/24 | ||||||||||||
| K | 6 | 6 | ||||||||||||
| 2Faced Dance Company | 4,500 | |||||||||||||
| Arts Alive | 7,500 | 7,500 | ||||||||||||
| Autumn in Malvern |
2,000 | |||||||||||||
| Borderlines Film Festival |
10,000 | |||||||||||||
| Broadway Arts Festival | 2,500 | |||||||||||||
| Bromsgrove District &Redditch |
Borough Council | 5,000 | 5,000 | 5,000 | ||||||||||
| Bromsgrove International |
Young Musicians | Competition | 3,500 | |||||||||||
| 'Churches Conservation |
Trust | 5,000 | 5,000 | |||||||||||
| Coach House Theatre | 2,500 | |||||||||||||
| Courtyard Centm forthe |
Arts | 10,000 | ||||||||||||
| DanceFest | 2,000 | |||||||||||||
| Garage Art Group | 2,000 | |||||||||||||
| Hereford Cathedral |
6,500 | |||||||||||||
| Ledbury Poetry Festival |
12,000 | |||||||||||||
| Longborough Festival Opera |
2,046 | |||||||||||||
| Malvern Theatre |
6,250 | 12,500 | 'I8,750 | |||||||||||
| National Youth Choirs ofGreat |
Britain | 2,000 | ||||||||||||
| National Youth Orchestra |
5,000 | |||||||||||||
| Presteigne Festival OfMusic And The |
Arts | 10,000 | ||||||||||||
| Rural Media Charity | 12,000 | 12,000 | 12,000 | |||||||||||
| Sound Affairs | 1,000 | |||||||||||||
| The Three Choirs Festival | 26,936 | |||||||||||||
| Vamos Theatre | 3,500 | |||||||||||||
| Worcester Cathedral | 22,655 | |||||||||||||
| Worcester City Council | 30,000 | |||||||||||||
| Worcester Paint Festival | 2,000 | |||||||||||||
| Worcester Porcelain Museum |
22,500 | 7,500 | ||||||||||||
| Individual students |
13,800 | 5,000 | ||||||||||||
| Total | 234,687 | 54,500 | 43,250 | |||||||||||
| 2021 | 2020 | |||||||||||||
| 6 | ||||||||||||||
| Creditors: amounts falling |
due within one year | 234,687 | 117,690 | |||||||||||
| Creditors: amounts falling |
due afler more than one | year | 97,750 | 189,046 | ||||||||||
| 332,437 | 306,736 | |||||||||||||
| Grants issued in the current year not yet paid Grants issued in prior years not yet paid |
140,736 191,701 |
177,486 129,250 |
||||||||||||
| 332,437 | 306,736 |
| Net inco | me/(expenditur | e) is stated aRer charging/(crediting): |
||
|---|---|---|---|---|
| 2020 | ||||
| 6 | ||||
| Depreciation - owned | assets | 13 | ||
| Auditors' | remuneration | —audit fees | 6,300 | 6,450 |
| Auditors' | remuneration | —other services | 19 | 1,006 |
| STAFFCOSTS | ||
|---|---|---|
| 2021 8 |
2020f | |
| Wages and salaries | 44,868 | 53,313 |
| Social security costs | 1,976 | |
| Other pension costs | 83 | 155 |
| 44,888 | 55,444 |
| The average monthly number ofemployees during |
the year was as follows: | |
|---|---|---|
| 2021 | 2020 | |
| Chiefexecutive | 1 | 1 |
| Ofhce stall | 1 | 1 |
| TANGIBLE FIXEDASSETS | |
|---|---|
| Ofhce | |
| equipment | |
| E | |
| COST | |
| At 6th April 2020 and 5th April 2021 | |
| DEPRECIATION | |
| At 6th April 2020 and 5th April 2021 | 3,866 |
| NET BOOK VALUE | |
| At 5th April 2021 | |
| At 5th April 2020 |
| FIXEDASSETINVESTMENTS | |
|---|---|
| Listed | |
| investments | |
| 2 | |
| MARKET VALUE | |
| At 6th April 2020 | 1,908,849' |
| Additions | 387,972 |
| Disposals | (389,381) |
| Revaluations | 441,562 |
| At 5th April 2021 | 2,348,992 |
| NET BOOKVALUE | |
| At 5th April 2021 | 2,348,992 |
| At 5th April 2020 | 1,905,549 |
| INVESTMENT PROPERTY | |
| FAIR VALUE | |
| At 6th April 2020 | 2,120,000 |
| Revaluation | 320,000 |
| At 5th April 2021 | 2,440,000 |
| NET BOOKVALUE | |
| At 5th April 2021 | 2,440,000 |
| At 5th April 2020 | 2,120,000 |
| The value of | investment | property under historical cost accounting isas fol |
lows: | |
|---|---|---|---|---|
| 2021 6 |
20206, | |||
| Cost | 2,367A50 | 2,367,450 | ||
| Impairment | (649,701) | (674,701) | ||
| 1,717,748 | 1,692,749 | |||
| DEBTORS:AMOUNTS | FALLING DUE WITHIN ONE YEAR | |||
| 2021 f |
2020 | |||
| Other debtors | 3,000 | |||
| Prepayments | and accrued income | 10,655 | 14,177 | |
| 10,665 | 17,177 |
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE |
YEAR | |
|---|---|---|
| 2021 | 2020 | |
| 6 | 8 | |
| VAT | 1,163 | 1,554 |
| Other creditors | 41,967 | 42,082 |
| Grants payable (note 8) | 234,687 | 117,690 |
| Accruals | 9,591 | 8,330 |
| Deferred income | 9,350 | 11,050 |
| 296,758 | 180,708 |
| CREDI | TORS | : | AMO | UNT | S FA |
LLI | NG DUE AF | TER MORE THAN | ONE YEAR | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | ||||||||||
| 6 | 6 | ||||||||||
| Grants | payable | (note 8) | 97,750 | 189,048 | |||||||
| MOVEMENT | IN FUNDS | ||||||||||
| Net | |||||||||||
| movement | At | ||||||||||
| At6.4.20 | in funds | 5.4.21 | |||||||||
| 8 | F | ||||||||||
| Unrestricted | funds | ||||||||||
| General | unresbicted | fund | 3,740,044 | 735,376 | 4A75,420 | ||||||
| TOTAL | FUNDS | 3,740,044 | 735,376 | 4,475,420 | |||||||
| Net movement | in funds, | induded | in the above | are as follows: | |||||||
| Incoming | Resources | Gains and | Movement | ||||||||
| resources | expended | losses | in funds | ||||||||
| 8 | 8 | 8 | |||||||||
| Unrestricted | funds | ||||||||||
| General | unrestricted | fund | 247,044 | (273,220) | 761,552 | 735,376 | |||||
| TOTAL | FUNDS | (273,220) | 761,552 | 736,376 | |||||||
| Comparathres | formovement | in | funds | ||||||||
| Net | |||||||||||
| movement | At | ||||||||||
| At6.4.19 | in funds | 5.4.20 | |||||||||
| 6 | |||||||||||
| Unrestricted | funds | ||||||||||
| General | unrestricted | fund | 4,028,799 | (288,755) | 3,740,044 | ||||||
| TOTAL | FUNDS | 4,028,799 | (288,755) | 3,740,044 |
| Total future minimum lease income which are receivable under investment properties, are as follows: |
non-cancefiable operating leases, |
in respect |
|---|---|---|
| 2021 | 2020 | |
| 6 | ||
| Not later than one year | 145,000 | 151,922 |
| Later than one and not later than five years | 512,000 | 531,041 |
| Later than five years | 590,000 | 1,010,000 |
| 1,547,000 | 1,692,963 |
| Elmley Foundation(The) | |||||
|---|---|---|---|---|---|
| Detailed Statement ofFinancial Activi6es | |||||
| for the Year Ended 6th April 2021 | |||||
| 2021 | 2020f | ||||
| INCOME AND ENDOWMENTS | |||||
| Donations and legacies | |||||
| Donation from Countess | Beauchamp | Charitable | |||
| Trust | 35,000 | 160,000 | |||
| Donations from individuals | 15,000 | ||||
| 36,000 | 175,000 | ||||
| Income from Investments | |||||
| Rents receivable | 121,635 | 155,557 | |||
| Income from listed investments | 90,490 | 79,342 | |||
| Bank interest | 19 | 15 | |||
| 212,044 | 245,914 | ||||
| Total incoming resources | 247,044 | 420,914 | |||
| EXPENDITURE | |||||
| Invesbnent management costs Property management costs |
13,944 | 13,442 | |||
| Property repairs |
4,410 | 6,886 | |||
| Property rates and water | 3,748 | 4,911 | |||
| Property utilities |
633 | 448 | |||
| Property insurance |
2,262 | 2,331 | |||
| Property advergsing | 250 | 500 | |||
| Legal and professional fees |
'l,500 | ||||
| 26,747 | 28,518 | ||||
| Charitable activities |
|||||
| Grants approved in year |
187,075 | 287,465 | |||
| Support costs | |||||
| Management | |||||
| Wages Social secumy " |
53,313 1,976 |
||||
| Pensions | 93 | 155 | |||
| Small grants management | fees | 4,600 | 4,500 | ||
| Event attendance costs |
570 | ||||
| Oflice costs | 3,005 | 2,937 | |||
| Travel and subsistence | 4,164 | ||||
| Sundry costs | 539 | 378 | |||
| Auditors' remuneration |
-audit fees | 6,360 | 6,450 | ||
| Auditors' remuneration |
-other services | 36 | 1,908 | ||
| Professional fees | 1,200 | ||||
| Depreciation | 14 | ||||
| 59,398 | 77,555 | ||||
| Total resources expended | 273,220 | 393,548 | |||
| Net (expenditure)iincome | (26,176) | 27,366 |