2020-12-31-accounts - The Burton Constable Foundation

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			Page
Reference and Administrative		Details
Report of the Trustees			2to6
Endowment Investment	Policy		7to 9
Report of the Independent Auditors			10to 12
Statement of Financial	Activities
Balance Sheet			14
Cash Flow Statement			15
Notes to the Financial	Statements		16to 26
Detailed Statement of	Financial	Activities	27 to 28

TRUSTEES	Mrs R C Straker		MA (Cantab) MRICS
	N A C Hildyard	DL FCA
	Ms CJ Nichol BSc,PG Dip, AMA, FRGS
	Dr C L Ridgway		BA, D.Phil.
	R A H Sword FRICS FAAV
	Ms Y L Hardman		MA, AMA
	A C T Procter MA (Cantab) Solicitor
	J C Straker MBA MA (Oxon)
COMPANY SECRETARY	C M Day
REGISTERED OFFICE	Burton Constable		Hall
	Burton Constable
	Skirlaugh
	East Yorkshire
	HU11 4LN
REGISTERED COMPANY NUMBER	02614135
REGISTERED CHARITY NUMBER	1010121
AUDITORS	Smailes Goldie
	Chartered Accountants
	Statutory Auditor
	Regent's Court
	Princess Street
	Hull
	East Yorkshire
	HU2 8BA
SOLICITORS	Langleys
	Queens House
	Micklegate
	York
	YO1 6WG
ADVISERS	Investec Wealth		and Investment
	30Gresham Street
	London
	EC2V 7QN

for the year ended	31st D	ecemb	er 2020
						2020	2019
			Unrestricted	Restricted	Endowment	Total	Total
			funds	fund	fund	funds	funds
		Notes					E
INCOME AND
ENDOWMENTS FROM
Donations and grants			95,573	9,372		104,945	115,898
Charitable activities
Historic house and	grounds		78,047			78,047	123,494
Other trading activities			49,306			49,306	62,741
Investment income	—listed
securities			242,034			242,034	289,670
Other income			43,230			43,230	76,604
Total			508,190	9,372		517,562	668,407
EXPENDITURE ON
Raising funds		4	34,766		39,919	74,685	80,130
Charitable activities
Historic house and	grounds	5	514,182	21,120		535,302	621,844
Total			548,948	21,120	39,919	609,987	701,974
Net (losses)/gains investments	on				~227,121)	~227,121)	828,893
NET
(EXPENDITURE)/INCOME			(40,758)	(11,748)	(267,040)	(319,546)	792,326
Transfers between	funds	19	65,817	1,183	~67,000)
Net movement in	funds		25,059	(10,565)	(334,040)	(319,546)	792,326
RECONCILIATION	OF
FUNDS
Total funds brought
forward			112,919	22,479	10,154,772	10,290,170	9,497,844
TOTAL FUNDS CARRIED
FORWARD			137,978	11,914	9,820,732	9,970,624	10,290,170

At 31st Decembe	r 2020
			2020	2019
		Notes		E
FIXEDASSETS
Intangible assets		9		332
Tangible assets		10	115,821	134,236
Heritage assets		11	1,879,427	1,879,427
Investments		12	7,796,305	8,130,345
			9,791,553	10,144,340
CURRENT ASSETS
Stocks		13	5,411	6,544
Debtors		14	118,286	137,732
Cash at bank and	in hand		152,718	96,408
			276,415	240,684
CREDITORS
Amounts falling due within
one year		15	(97,344)	(94,854)
NET CURRENT ASSETS			179,071	145,830
TOTAL ASSETS	LESS
CURRENT LIABILITIES			9,970,624	10,290,170
NET ASSETS			9,970,624	10,290,170
FUNDS		18
Unrestricted funds			137,978	112,919
Restricted funds			11,914	22,479
Endowment funds			9,820,732	10,154,772
TOTAL FUNDS			9,970,624	10,290,170

for the year ended 31st De	cemb	er 202	0
				Notes	2020 f	2019 E
Cash flows from operating activities: Cash generated from operations				22	~251,966)	290,904
Cash flows from investing	activities:
Purchase oftangible fixed assets					(738)	(25,521)
Sale of tangible fixed assets						23,250
Capital drawdown					67,000	30,000
Interest received					71
Dividends received					241,963	289,670
Net cash provided by investing		activities
					308,296	317,399
Change in cash and cash	equivalents		in the
reporting period					56,310	26,495
Cash and cash equivalents	at the beginning
ofthe reporting period					96,408	69,913
Cash and cash equivalents	at the end		ofthe
reporting period					152,718	96,408

						2020	2019
							F
Raising	donations			and legacies		9,292	13,521
Other trading			activities			25,474	25,408
Investment		management costs				39,919	41,201
						74,685	80,130
CHARITABLE ACTIVITIES COSTS
Historic	House and			Grounds		2020	2019
							E
Direct costs						378,290	448,148
Support	costs		- Administration - Governance		136,900 20,112		156,050 17,646
						157,012	173,696
						535,302	621,844
Governance			costs
						2020	2019
							E
Trustees'	expenses			—travel and subsistence		456	2,453
Auditors'	remuneration					5,250	5,400
Accountancy			fees			1,623	1,358
Legalfees						12,783	8,435
						20,112	17,646

		2020	2019
			F
Wages Social	and salaries security costs	272,647 17,614	270,006 16,637
Other	pension costs	9,607	6,752
		299,868	293,395

The average
	2020	2019
Full time	7	7
Part time	5	4
Seasonal	10	11
	22	22
Full time equivalent	10	10

	Unrestricted	Restricted	Endowment	Total
	funds	fund	fund	funds
			F	E
INCOME AND
ENDOWMENTS FROM
Donations and grants	35,948	79,950		115,898
Charitable activities
Historic house and grounds	123,494			123,494
Other trading activities	62,741			62,741
Investment income —listed securities	289,670			289,670
Other income	76,604			76,604
Total	588,457	79,950		668,407
EXPENDITURE ON
Raising funds	38,929		41,201	80,130
Charitable activities
Historic house and grounds	563,988	57,856		621,844
Total	602,917	57,856	41,201	701,974
Net gains/(losses) on investments			825,893	825,893
NET INCOME/(EXPENDITURE)	(14,460)	22,094	784,692	792,326
Transfers between funds	29,615	385	~30,000)
Net movement in funds	15,155	22,479	754,692	792,326
Total funds brought forward	97,764		9,400,080	9,497,844
TOTAL FUNDS CARRIED FORWARD	112,919	22,479	10,154,772	10,290,170

COST
At 1st January 2020 and 31"December 2020	11,745
AMORTISATION
At 1stJanuary 2020	11,413
Charge for year	332
At 31st December 2020	11,745
NET BOOK VALUE
At 31st December 2020
At 31st December 2019	332

TANGIBLE FIXEDASSETS
	Plant and	Fixtures and	Motor
	machinery	fittings	vehicles	Totals
			f.
COST
At 1st January 2020	146,663	122,642	21,844	291,149
Additions		738		738
Disposals
At 31st December 2020	146,663	123,380	21,844	291,887
DEPRECIATION
At 1st January 2020 Charge for the year	39,109 7,333	111,295 6,709	6,509 5,111	156,913 19,153
Disposals
At 31st December 2020	46,442	118,004	11,620	176,066
NET BOOK VALUE
At 31st December 2020	100,221	5,376	10,224	115,821
At 31st December 2019	107,554	11,347	15,335	134,236
HERITAGE ASSETS
				Total
				F
COST OR VALUATION
At 1stJanuary 2020 and 31st December 2020				1,879,427
NET BOOK VALUE
At 1stJanuary 2020 and 31st December 2020				1,879,427

		Listed
		investments
MARKET VALUE
At 1st January 2020		8,130,345
Net loss on investments		(227,121)
Investment management Capital drawdown	costs	(39,919) ~67,000)
At 31st December 2020		7,796,305

13.	STOCKS
				2020	2019
					E
	Gift shop stock and guide		books	5,411	6,544
14.	DEBTORS:AMOUNTS	FALLING DUE WITHIN ONE YEAR
				2020	2019
					E
	Trade debtors			8,368	4,373
	Other debtors			44,503	74,188
	VAT			6,576	10,730
	Prepayments			58,839	48,441
				118,286	137,732
15.	CREDITORS: AMOUNTS		FALLING DUE WITHIN ONE YEAR
				2020	2019
	Trade creditors			61,565	61,464
	Social security and other		taxes	6,014	5,030
	Other creditors			19,665	20,115
	Accruals			10,100	8,245
				97,344	94,854

	Minimum leas		e pay	ments	unde	r non-cancel	lable operating	leases fall due	as follows:
									2020	2019
										F
	Within one year									1,791
										1,791
17.	ANALYSIS OF NET ASSETS					BETWEEN	FUNDS
									2020	2019
					Unrestricted		Restricted	Endowment	Total	Total
						funds	fund	fund	funds	funds
										E
	Fixed assets					115,821		1,879,427	1,995,248	2,013,995
	Investments							7,796,305	7,796,305	8,130,345
	Current assets					264,501	11,914		276,415	240,684
	Current liabilities Loan between funds				(97,344) ~145,000)			145,000	(97,344)	(94,854)
						137,978	11,914	9,820,732	9,970,624	10,290,170
18.	MOVEMENT		IN FUNDS
								Net	Transfers
								movement	between
							At 1.1.20	in funds	funds	At 31.12.20
							K
	Unrestricted		funds
	General fund						112,919	(40,758)	65,817	137,978
	Restricted funds
	Heritage resilience Other			fund			22,479	(10,565) ~1,163)	1,183	11,914
							22,479	(11,748)	1,183	11,914
	Endowment	funds
	Main fund and		heritage assets				10,154,772	(267,040)	(67„000)	9,820,732
	TOTAL FUNDS						10,290,170	~319,546)		9,970,624

MOVEMENT IN F	UNDS	—contin	—contin	—contin	ued
Net movements in	funds,	included			in	the	above are as follows:
								Incoming	Resources	Gains and	Movement
							resources		expended	losses	in funds
Unrestricted funds
General fund								508,190	(548,948)		(40,758)
Restricted funds
Heritage resilience Other	fund							8,500 872	(19,065) ~2,055)		(10,565) ~1,183)
								9,372	(21,120)		(11,748)
Endowment funds
Main fund and heritage assets									(39,919)	(227,121)	(267,040)
TOTAL FUNDS								517,562	L609,967)	)227,121)	~319,546)
Comparatives for	movement			in	funds
									Net	Transfers
									movement	between
								At 1.1.19	in funds	funds	At 31.12.19
Unrestricted funds
General fund								97,764	(14,460)	29,615	112,919
Restricted funds
Heritage resilience Other	fund								22,479 ~385)	385	22,479
									22,094	385	22,479
Endowment funds
Main fund and heritage assets								9,400,080	784,692	(30,000)	10,154,772
TOTAL FUNDS								9,497,844	792,326		10,290,170
Comparative net movements			in	funds,		included		in the above are as follows:
							Incoming		Resources	Gains and	Movement
							resources		expended	losses	in funds
Unrestricted funds
General fund								588,457	(602,917)		(14,460)
Restricted funds
Heritage resilience	fund							76,500	(54,021)		22,479
Other								3,450	(3,835)		(385)
								79,950	(57,856)		22,094
Endowment funds
Main fund and heritage assets									(41,201)	825,893	784,692
TOTAL FUNDS								668,407	)701,974)	825,893	792,326

artefacts	reinstated in 2001 together with subseq	uent additions.
			Heritage
		Main fund	assets	Total
Openinq	balance at 1st January 2020	8,275,345	1,879,427	10,154,772
Net movement in fund Capital drawdown transfer		(267,040) ~67,000)	-	(267,040) ~67,000)
Closing	balance at 31st December 2020	7,941,305	1,879,427	9,820,732

								2020	2019
	Net income for the	reporting			period (as	per the statement	of
	financial activities)							(319,546)	792,326
	Adjustments for:
	Depreciation charges							19,485	24,382
	Unrealised net loss/(gain)		on	investments		after management	costs	267,040	(784,692)
	Profit on disposal offixed		assets						(23,092)
	investment income							(242,034)	(289,670)
	Decrease in stocks							1,133	1,118
	Decrease/(increase)	in debtors						19,446	(22,710)
	Increase/(decrease)	in creditors						2,490	11,434
	Net cash used in operating			activities				)994,999)	~290,904)
23.	ANALYSIS OF CHANGES			IN	NET FUNDS
							At 1.1.20	Cash flow	At 31.12.20
							E	E
	Net cash
	Cash at bank and in	hand					96,408	56,310	152,718
							96,408	56,310	152,718
	Total						96,408	56,310	152,718

for the year end	ed	31st	D	ecember	2020
								2020	2019
					Unrestricted	Restricted	Endowment	Total	Total
					funds	funds	funds	funds	funds
					E	E	E	E	E
INCOME AND ENDOWMENTS
Donations and Donations	legacies				2,439			2,439	10,963
Grants					93,134	9,372		102,506	104,935
					95,573	9,372		104,945	115,898
Other trading activities
Gift shop sales Special event income					9,044 19,464			9,044 19,464	15,099 25,396
Rents received					20,798			20,798	22,246
					49,306			49,306	62,741
Investment income
Listed securities					241,963			241,963	289,670
Deposit account	interest				71			71
					242,034			242,034	289,670
Charitable activities
Hall and grounds	admissions				77,194			77,194	120,740
Sale ofguidebooks					853			853	2,754
					78,047			78,047	123,494
Other income
Gain on sale of	tangible		fixed
assets									23,092
RPA single payment		scheme			19,357			19,357	19,077
Sundry income					494			494	3,763
Renewable heat	incentive
scheme					23,379			23,379	30,672
					43,230			43,230	76,604
Total incoming	resources				508,190	9,372		517,562	668,407
EXPENDITURE
Raising donations		and	legacies
Advertising					8,892			8,892	11,421
Marketing					400			400	2,100
					9,292			9,292	13,521
Other trading activities
Shop purchases Special event costs					5,949 18,641			5,949 18,641	9,811 15,597
Bad debts					884			884
					25,474			25,474	25,408
Investment management Portfolio management				costs			39,919	39,919	41,201

for the year ended 3	1	st December 20	20
						2020	2019
			Unrestricted	Restricted	Endowment	Total	Total
			funds	funds	funds	funds	funds
			F	E	E	E	E
Investment management costs
Charitable activities
Wages			272,647			272,647	270,006
Social security			17,614			17,614	16,637
Pensions			9,607			9,607	6,752
Exhibition costs							1,527
House maintenance			53,498			53,498	67,483
Gardens and grounds			275			275	7,753
Resilient heritage project				19,065		19,065	45,926
Other projects			1,900			1,900	10,374
Countryside stewardship			1,265			1,265	8,443
Curatorial projects			364	2,055		2,419	13,247
			357,170	21,120		378,290	448,148
Support costs
Administration
Rates and water			5,692			5,692	4,610
Insurance			42,835			42,835	40,752
Light and heat			40,948			40,948	46,333
Telephone			3,566			3,566	3,113
Postage and stationery			449			449	1,255
Sundry expenses			3,361			3,361	6,828
Motor and travel			5,466			5,466	5,554
Bank charges			5,776			5,776	4,439
Volunteer expenses			4,025			4,025	14,378
Training			248			248	1,080
Health and safety expenses			4,252			4,252	2,512
Subscriptions			797			797	814
Computer software			332			332	2,349
Plant and machinery			7,333			7,333	7,333
Fixtures and fittings			6,709			6,709	9,589
Motor vehicles			5,111			5,111	5,111
			136,900			136,900	156,050
Governance costs
Travel and subsistence			456			456	2,453
Auditors' remuneration			5,250			5,250	5,400
Accountancy fees			1,623			1,623	1,358
Legal fees			12,783			12,783	8,435
			20,112			20,112	17,646
Total resources expended			546,033	21,120	39,919	609,987	701,974
Net expenditure before		gains
and losses			(40,758)	(11,748)	(39,919)	(92,425)	(33,567)
Realised recognised	gains and losses
Realised gains/(losses)		on fixed
asset investments					)227,121)	)227,121)	825,893
Net (expenditure)/income			~40,758)	f11,748)	)267,040)	)319,546)	792,326