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##
||||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|