##
##
||||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|monthly|number|ofemployees|during|the year was as follows:|||
|---|---|---|---|---|---|---|---|
|||||||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|