Charity Registrati¢Jn No. 1010244 Company Registration No. 02685658 IEnEland and Wales) THE AMMERDOWN CENTRE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 OLDMLL
THE AMMERDOWN CENTRE LEGAL AND ADMINISTRATIVE INFORMATION Trustees S J Burgess W Furness A T Pjolliffe W F Thomson A Townshend Dr T L Chambers G Powell C 8oddinEton (Appointed 22 August 20211 SKretarv W Furness Charlty number 1010244 Company number 02685658 ReBlstered offlce Ammerdown Park Radstock BATH Somerset BA3 5SW Independent examiner Old Mill Accountancy Limited Bishopbrook House Cathedral Avenue WELLS 5omerset BA5 IFD Solldtors Stone Klng LLP 13 Queen Square BATH Somerset BAI 2HJ Investment advisors Old Mlll Flnanclal P13nning LLP Maltravers House Petters Wav YEOVIL Somerset BA20 ISH
THE AMMERDOWN CENTRE CONTENTS Page Trustees, report Independent examlner's report Statement of financial 8Ctlvlties Jmmèry income and expenditure account B3lènce sheet 9-10 Statement of cash flows li Notes to the financial statements 12-30
THE AMMERDOWN CENTRE TRUSTEES, REPORT {INCLUDING DIRECTORS. REPORT} FOR THE YEAR ENDED 31 DECEMBER 2021 The trustees present their report and financial Statements for the year ended 31 December 2021. The accounts have been prepared In accordance with the atcountlnB pollcles set out In note I to the accounts and comply wlth the charlty's Memorandum and Articles ol Association, the Cornpariie5 Act 2006 and -Accounting and Reporting by Charities.. Statemènt of Recommended Practice applicable to charitie5 preparing their accounts in attord8nce with the Financial Reporting Standard applicable in the UK ènd Republic of Ireland IFRS 1021 (effective l January 20191. Oblectives and actlvltie5 Objectives The orlglnal oblects of the Trust as recorded in the Articles of Assoc13tlon In 1973 were.the advancement of the Christian rellgion and the advancement ol education anywhere in the worid" Sint& then the Trust has developed its work in interfaith dialogue Iwhith is recorded in the Articles as one ol the ways in which the object5 may be achievÈdl and the promotion ol justice, peace and reconciliation. These objects a reflectsd In the mission statement which the Trustees revised In 2015. and whlch now reads.. "The Ammerdown Centre was set up In 1973 as a Christian foundation. It exists to prornote peacei jUSticÈ and retoncillatlon In a safe place of h05Pltality where people of differing vlows or falths can engage In dialogue and can pursue their journeys of prayer. f31rh or enqulrv.. The Ammerdown Centre fulfi15 Its charitable objective5 by being a Conference and Retreat Centre which runs Its own programme of course5, lectures and events, offerlng a wlde range of speakers including many well known Christian leaders, welcome5 external groups Iborh on a resldentlal and non-residential ba5151 that Use the fatilitiÈs of the Cenrre to carry out their own educ3tional purposes,. Ènd welcomes prlvate guests who are seeking a quiet ploce whÈr@ they tan have tlme and space on their own, as well a5 a rÈst. Thls Is summarised in the Ammerdown Centre's strapllne.. Ammerdown-Hospltollty. Peace and Reconcillatlon,. The Ammerdown CÈntre has Identified Its Core Values which are.. Inclusivity- Sustainable solutions can only be built by safely Including all stskeholders, whatever their views and whatever thÈir past behavior. Participants, engagernent with Am[down,$ Programme Is always voluntary, willingly made, and without pressure. Extra efforts often need to be made to include, when 3ppropriate, those who are hard to reach or who are on the margin5 of a conflict. Ammerdown commlts In 811 Its work to achieve a good diverse ba13nce arnongst proEram partEip3nts. Non Violence Violence 15 Counter-produttfve to the transformation of conflict. and non-violent alternatives can be developed which are both humane 4nd sustainable. Respecl - Every human belng, wlthout exceptlon. deserves to be treated with equal spect, and to have thelr dlgnity upheld and their hurnan right5 respetted. IndÈpÈndence and Impartiality - Ammerdown does not take sldes or promote specllic solutions but rather acts as an independent and Impartial facllltator who, without judgement, helps to build and transform relationshlps and ald communities to find 5UStain3blÈ solutlons. Caring- Ammerdown wlll show kindness and concern for all of its customers and vlsltors wlthout questlon. Dlalogue - Dialogue is a kind o151ow and thoughtful listenin& combined with careful talking. It cornes fratn 3 genuine attitude of respect and curiosity, combined with a corntnitment to work on understanding and try to find the thin lines between 3greemÈnt and disagreement.
THE AMMERDOWN CENTRE TRUSTEES, REPORT ICONTINUEDIIINCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2021 Hospitality- Ammerdown has deep routed warm. friendly reception 3nd treatment of gue5t5 or strangers, the quallty of receiving and tatIng Euests and strangers at Ammerdown will be one of excellence. Splrituallty- In modern times the emphasis 15 on subjective experience of H sacred dimension and the deepest values and meanings by which people live.. Social Justlce . Amrnerdown acts a5 a catalyst In glvlng a volce to the vulnerable. We help to break down prejudi5 by provldln8 Opportunities for diverse people within the cornmunity to meet together and dialogue, and advocète for change: empowerlng the vulnerable and enrlching the community. Ammerdown'5 Vision and Mission are-. Vlslon- Ammerdown believes in a shared world,. where diversity and different identities are thÉrished', where all can live fe from the fear of vlolence. abuse and wlth dSgnity and respect,. and where differences and conflicts are transformed pe3cefully. Mission- Ammerdown's mission is to help deepen reconciliation within and bÈtwÈen communitles in the UK and internationally. Ammerdown achieves its mission by helping the transformation 3nd building if relatlOn5hip5 thTough facilitated inclusfve dialogue and capacity buildsng of stakeholders. The trustees have paid due Eard to guidance Issued by the Charlty Commlsslon In deciding what actfvities the charity should undertake. Achlevements and performance The Trustees have iefeired to the guidance in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectwes and in p13nninE the Charity's future attivities. In particular, the Trustees he considered how planned activities will contribute to the aims and objectives they have set. The ¢harity carries out a wldÈ range of activities in pursuan of its charitable 81ms. The Trustees consider that these activities all deliver public benefit. The Ammerdown Courses planned for 2021 in¢ludÈd spiritual, wÈllbelng and creative courses. Although some had to be cancelled due to COVID, some courses were offered via Zoom and others were blended to be a5 inclusive and accessible 35 P055ible. External bookings went ahead where government gvidellnes allowed. The Centre's Staff made spÈclal efforts to ensure that all guesrs were aware of the regulations in platr and were asked to adhere to them. The website and Ammerdown's online presence, in addition to the traditlonal quèrter1y newsletter and programme, have he5ped the ch8rity connect with a wider audience and remain connected with people throughout the pandemlc. Interfaith work contlnued to be partially fundÈd by the Brlstol Clty Councll through the Voice and Influence Partnership. Thls money enabled both virtual and live interf4ith connections, mÈetinBs and workshops.
THE AMMERDOWN CENTRE TRUSTEES. REPORT ICONTINUEDI(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2021 Golng concern In light ol the current coronavlrus pandernlc, the trustees have reviewed the likely future developmÈnts and rÈmaln of the opinion that there is no reason to bÈliÈvÈ that the charity will have to cease to operate as a result of inadequ3te lin3ncial resources. or any other foreseeable event, within a period of at least 12 months from the date ol the approval ol these actounts. Investment policy and performance An Investment Sub-committee has been in place slnce December 2011, and the Investment portfolio of the Ammerdown Centre has been managed since 2012 by the Fin3ncial Services dÈpartmÈnt of l(xal accountancy fSrm Old Mill. Old Mill send5 quarterly reports and rhe members of the sub-committee meet once a year with a representative of Old Mill to review performance and ri5k5. The reserves that 8re not held in savings accounts are currendy invested in two separate funds managed by Old Mlll.. The Core Funds The Bursary Fund The r5sk fattors agreed with Old Mill lor 2019 were.. Risk Group 5 for the bursary funds Risk Group 3 for the core investment funds. At 31 December 2021. the value of the portfolio was £360,48412020..£337,5691 Financial revlew ResÈrves Pollcy The Tru5tee5 Continue to bÈ of the vlew, as recommended by the Charity Commission. the Arnmerdown Centre should maintain an appropriate level of free reserves li.e. unrestricted funds not tied up in the charitable fixed zssetsl. The Trustees h8ve decided that the free reserve5 should equate to at least six months, recurrlng overhead expenditure in order to ensure the tontlnulty of operations In case of unforeseen events. At 31 December 2021, the level of free serveS was £254,206 12020'.E359.2161, equlvalent to 4.3 months12020..6.6 months) of recurrlng expenditure. TheTrustees are working to restore reserves to six months and continue to review each year the level of fe reserves. Prlncipal FundinE The Trustees welcome the fact that The Ammerdown CÉntre Ènded the year wlth a surplus of £25,481. The economic environment for conference and retreat centres under norrnal circumstances is challenging. However, the impact of Covid- 19 on the centre and, indeed, the whole country, h8s been unpredictable and has led to the centre being closed for several months and significant loss of income. 2020 and 2021 ère the hardest years to date that Ammerdown has faced since it5 in¢Èption almost SO years 8go. It was decided to outsour the housekeeping and the kitchen as It was more cost effective to buy in services when needed rather than &mploy Staff for work that was totally unpredictable. Thls proved beneflclal for this period of tlme but the catering wlll be brought back In house in 2022 as busine55 h?s increased. Bedroom£ have bÈÈn refurblshed. All have been p3inted 3nd rÈ-carpeted with new beds and lamps. Th? new website Is up and running with new onllne 8ooklng System being developed. In addition, the oll bollers h8ve been replaced to improve the efficiency of the heating system. The Centre has stayed in touch with people durlng the pandemSc and as some have returned. there h35 been p051tive feedback about Ihe way we have managed guests, return to the Centre. This has lÈd to some strong biM)kings for 2022. In addition, sadly SOMÈ retreat centres have closed down and Ammerdown ha5 gained new business from these centres.
THEAMMERDOWN CENTRE TRUSTEES, REPORT ICONTINUEDIIINCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2021 Future developments Now that bookings for 2022 are stron& the catering will be brought back in house. This will reduce the catering cost External booklngs for 2021 remaln healthy as sorne booking5 h3ve been transferred from earller dates., we h8vÈ galned bu5ine5s from closed retreat centres,. people are eager to visit when they know the centre is managin8 the COVID situation effectively. The charlty stlll ret31ns a reasonable level of reserves. These were not touched durine the pandemlc and, therefore. leave U5 In a strone flnanclal posltlon to see through 2022. The centre will devek)p Aldrich Cottage in 2022 and invest in 4 greenerÈarden. All conference rooms will be painted. Structure, governance and management RegSstered Address: The Ammerdown Centre. Ammerdown Park, Radstock, BA3 5SW Governlng Document The Ammerdown Centre Ltd is a cornpany lirnited by guarantÈÈ without a share capital (Company Number.. 26856581, governed by Its Memor8ndum ènd Articles ol Association dated 10 February 1992 as arnended by rÈsolutions dated 12 May 1997, 26 Novembèr 2001 and 25 June 2007. It is a registered charity with the Charity Cornmi55ion logi5tration dated 3 April 1992, underthe ch3rity nutnber 10102441. The chèrit8ble company is limited by guarantee. without share c8pital, the guarantors kEing the Trustees to the extent of £1 each. There were 9 members at the balance sheet date. Recruitment and Appointment of Trustees The Directors of the company are also charlty Trustees for the purpose of charity law and underthe company's 3rti¢les a known zs Trustees. Under the reqviretnents of the Memorandum 8nd Articles of Association the Trustees are appointed for a period of three years, after which they rnu5t be re-elected at the next Annual General Meetlng. The trustees, who are also the directors forthe purpose of company law, and who served durlng rhe year were: S J 8ur8ess S D Meadows W FurnÈss A T P Jolliffe W F Thomson S L Gl&nvllle A Town5hÈnd DrT L Chambers P A Taylor G Powell C Boddington (Deceased 2 August 20221 IApw>inted 22 August 20211 IReslEned 16 November 20211 Each prospective TTU5tee 15 Invlted to attend at least one Trustees, meeting and to meet with the Chair of Trustees prioi to any appointment. Trustees recently appolnted by the Board serve or have served as other ch3rities and are therefore already will aware of their leg31 obligations under charity law. Within the limlts of availability and distance, Trustees a encouiaged to help out at the Centre. Thls provldes them with valuable opportunities to work aloneside members of staff and volunteers, to gain insights into the day to day oper3tlons of the Centre and also to meet and talk to guests.
THE AMMERDOWN CENTRE TRUSTEES, REPORT ICONTINUEDI{INCLUDING DIRECTORS, REPORTI FOR THE YEAR ENDED 31 DECEMBER 2021 Organlsatlon The Board ol Trustees administers the charity. The whole Board normally meets live tITnes a year. The Trustees are in favour of forrning sub-commlttee5 when partlcular operatlonal or strateglc issues need to be looked at In depth and would benefit from Input from a wide range of experiÈncÈ and backgrounds. Typlcally, these sub-committees are formed on an ad-hoc basls over a short perlod of time and bring together rnembers of the boardp paid staff and. if appropriate, people from outside the organisation. The sub-committees bring the outcome of their reflection5 to the Board lttr distusslon and. when necessary. final deci510n. The only 5ub-comrnittee that operate on an ongoing basis is the Audit & Risk Sub-committee. statement of trustees. responslbilltles The Trustees Iwho are also director5 of the Ammerdown Centre Umlted for the purpose of company lawl are rÈsponslblÈ for prÈp3rlng the Trustees, Report and the financial statetnents in attordance wlth appllcable law and United Kingdom Accounting StÈndards (United Kingdom Generally Accepted Accounting practi1. Company law requires the Trustees to prepare financial statèments for each financial year. which give a true and fair view of the state of affairs of the company and of its incoming re50ur¢es and application of resources, including its net income and expenditure for the year. In preparing those financlal statements, the Trustees are required to.. select suitable accounting policie5 3nd then apply them consistentlv.. observe thÈ mÈthods and principles in the Charities SORP,. make judgements and e5titnate5 that are reasonable and prudent,. state whether applicable UK Accounting Standards have been followed. subject to any material departure5 dI5c105ed and explained in the financial statements,. and prepare the finantial statements on the going concern bas15 unless It Is inapproprlate to presume that the ch8rltable company wlll contlnue In operatlon. ThÈ Trustees are responsible for keeping adequate accounting record5 that are sufficient to show and explain the charitable company'5 tr8n53Ctlons and disclose with reasonable accuracy at any time the financial posltlon of the charitable company and enable them to ensvre that the financial statements comply with the Companie5 Act 2006. They are a1$0 responsible for safegu3rdinE the assets of the company and hence lor takinE reasonable steps for the prevention and detection of fraud The trustees, report was approved by the Board of Trustees. S J Burgess Chair Dated..
THE AMMERDOWN CENTRE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE AMMERDOWN CENTRE I report to the tru5tee5 on my examinatlon of the financlal statements of The Amrnerdown Centre (the charity) for the year ended 31 December 2021. Re5POll51bilitiÈs and basls of report As the trustees of the charity land also Its directors for the purposes of company lawl you are responslble for the preparation of the findnclal statements In accordance with the requirements of the Companie5 Act 2006 Ithe 2006 Act). Navlng satlslied myself that the financial staternents of the charity are not r&qulred to be audited under Part 16 of the 20a6 Act and are eligible for independent examination. I report in respect of rny examination of the chariiy's financial statement5 carried out under settlon 145 of the Charities Act 2011 Ithe 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charlty Commlsslon under section 1451Sllbl of the 2011 Act. Independent examlner's statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body Ilsted in sectlon 145 of the 2011 Att. I conflrm that l am qualified to undertake the examin3tion because l am a member of Institute of Chartered Accountsnts in England and Wales, whlch Is one of the Ilsted bodles. I hawe completed my examination. I confirm that no mattÈrs have tome to my attentlon In connection with the examination giving me cause to believe that in any rnaterial respect.. accountlng records were not kept in respect of the charity Ès rÈqulred by section 386 of the 2006 Act.. or the financial ststement5 do not accord with those records-, or the fin?nci315tstement5 do not tomply with the accounting requirement5 of section 396 of the 2006 Art other than any requirement that the accounts givÈ a truÈ and falr view which is not a matter considered as part of an Independent eKamination.' or the financial statements have not been prepared In 8ccordan£e with the methods and principle5 of the Staternent of Recommended Practice for accounting 3nd reporting by charities applicable to tharltles preparing their accounts in acttsrdance wlth the Flnancial Reporting Standard apICable in the UK and RepubSic of Ir@18nd IFRS 1021. I have no concerns and have come 3cross no other matters connectlon wlth the examlnation to which attention should be drawn In thls report In order to enable a proper under5tsnding of the finantial statements to be reach&d. Old Mill Accountancy Llmlted TIM Lerwlll, FCA Bishopbrook House Cathedr31 Avenue WELLS Somerset BA5 IFD 2210912022 D8ted'.
THE AMMERDOWN CENTRE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021 Unrestrlcted funds 2021 Restrl£ted Endowment Total Total funds 2021 funds 2021 2021 2020 Notes In¢omÈ #nd endowments from.. Donatlons and legacies 103,190 422,023 19.074 12.764 29,302 24,559 127,749 422,023 19.074 12,764 29,302 385,688 184,198 6,270 28,700 27,341 Other trading 4ctiwties Investments other Income Total Income 586.353 24,559 610,912 632,197 Ex enditure on.. Raising funds 19,789 1,096 20,885 17,921 Charltablo actlvltles 689,124 10,942 700,066 654,984 Total re50urce5 expendÈd 708,913 12,038 720,951 672.905 Net gainslllosses) on investrnents 14 126,066 9.454 135.520 50,096 Net movement in funds 3,506 12,521 9,454 25.481 9.388 Fund balance5 at l January 2021 2.564,805 32,662 82.108 2.679,575 2,670,187 Fund balances at 31 December 2021 2.568,311 45,183 91,562 2,705,056 2,679,575
THE AMMERDOWN CENTRE SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021 All In¢ome funds 2021 2020 Gross intom& 610,912 50,096 632,197 41,805 Galns on Investments Total incoTne in the reporting peric 661.008 674,002 Total expenditure from income fund5 720,951 672,905 Net Income for the year 159,9431 1,097
THEAMMERDOWN CENTRE BALANCE SHEET AS AT 31 DECEMBER 2021 2021 2020 Notes Flxed aet$ Tangible assets Investment properties Investments 15 1.503,168 810,937 360,484 1.502,871 702,718 337,569 16 17 2.674,589 2.543,158 Current a55ets Stocks Debtors Cash at bank and In hand 19 3,649 41,846 158,127 5,600 39.734 260.534 20 203,622 305,868 Credltors.. amounts falllng due wlthin one year 22 1173,1551 1135,3411 Net current assets 30.467 170,527 Total assets less current Ilabllltles 2,705,056 2.713.685 Credltors.. amount5 talling due after rnore than one year 23 134,1101 Net a55ets 2,705,056 2,679,575 Capital lunds Endowment funds- eeneral In¢ome funds Restrlcted funds Unrestricted funds 26 91,562 82,108 27 45.183 2,568,311 32,662 2,564,805 2,705,056 2,679,575
THE AMMERDOWN CENTRE BALANCE SHEET ICONTINUEDI ASAT 31 DECEMBER 2021 Thecompany Is enlled tothe èyemptlonlrom the audlt requlremÈnt ¢ontalned In Secon 477 ofthe Cwpanles Act2rx)6. for the yearendÈd 31 December 2021. The members havÈ not requlred the compawto obtaln an audlt of ltsflnanclal statement5 forthe yearln ouestlon In attordance wlthsectlon 476. The dlre£tor acknowledges hls re5ponslbllltie5 for complylng wlth the requlrement5 01 the Companl¢s A¢t 2006 wlth respert to accouhtlng records and the PreratIOn otflnancial statement5. These financl31 statements have been PTep8r¢d In accordantt wlth the prov1on$ appllcable to companles subject to the small comptnles reglme. The accovnts wÈre approved by the Trustees on....... &.IqI 7J>L SJ BurgÈss ThLfv Company Rellslratlon No. 026B5658 -iD-
THEAMMERDOWN CENTRE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021 2021 2020 Notes Cash flows from operatlng actlvltles Cash 8bsorbed by operations 31 137,9631 154,7451 Investing actlvltles Purchase of tangible fSxed 8ssets Interest recelved 162,8181 12,764 133,6461 28,700 Net cash used in investlne actlvltles 150,0541 14,9461 Flnanclng actlvltles Repayment of debenture5 114.3901 Net cash used In fSnanclng actlvitles 114,3901 Net decrease in cash and cash equivalents 1102.4071 159,6911 Cash and cash Èqulvèlents at beginning of year 260,534 320,225 Cash and cash equivalents at end ol year 158,127 260,534 -li-
THE AMMERDOWN CENTRE NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting poll¢les Charlty Informatlon The Ammerdown Centre is 3 private cotnpany limited bv Euarantee Incorporated In England and Wales. The fegistered offlce Is Ammerdown Park. Radstock, BATH, Somer5et, BA3 5SW. 1.1 Accounting convention The accounts have been prepared in accord3nce with the charity's Memorandum and Artlcles of Assoclatlon, the CompanlÈs Act 2006 and -Accountlng and Reporting by Charities., Staternent of Recommended Practice applicable to charities preparing their accounts in accordance wlth the Financial Reporting Standard 3pplicable in the UK and Republlc of Ireland IFRS 1021" leffective l January 20191. The charlty Is 8 Public Benefit Entity as defined by FRS 102. The financial statements are prepad in sterling, which Ss the functlonal currency of the charity. Monetary 4mount5 In th@se fln3nclal statements are rounded to the ne3rest £. The financlal statements have been prepared under the historical c05t convention, modified to Include the revaluation ol freehold propertiÈs and to Include Investment propertie5 and certain financi31 instrurnents at fair value. The prlntipal accounting policie5 adopted a set out below. l.Z Golng concern In light of the current coron8vlrus pandemic, the trustees have Feviewed the likely future developments and remaln of the opinion that there Is no reason to belleve that the charity will have to cease to operate as a result ol inadequate flnanclal resources, or any otherforeseeable event, withln a perlod of ar least 12 months from the date of the 3pproval of these accounts. 1.3 Charitable funds Unrestricted funds are avallable for use at the discretion of the tru5tee5 in furthÈrance of thelr charitable objeCte$. Restricted funds are Subject to $tIf1t conditions by donors as to how they may be used. The purposes 4nd uses of the restrlcted funds are set out in the notes to the financial statements. Endowment funds are subject to speclflc conditlons by donors that the capital must be maintained by the tharity. 1.4 Incomlng resources Income is recognised when the charlty is legally entitled to It after any performance conditions have been met, the amounts can be measured rellably. and it 15 probable that income will rete5ved. Cash donations are recognisèd on retÈlpt. Other donations are recognised once the £haTlty has been notified of the donation. unless performance conditions requi deferral of the amount. Income tax recoverable in relation to donations retefved under Gift Aid or deeds of covenznt 15 recognised at the time of the don3tlon. Legacie5 a reeoenised on recelpt or otherwlse If the charity has been notified of an irnpending distribution, the amount Is known. and receipt 15 e¥pe¢ted. If thÈ amount Is not known, the legacy is treated as a contingent a55et. Incotne is only deferred when.. Fees are recewed Sn advance of the event to which the relate.. The donor specifies that the grant or donatidn must only be used In future accounting periods.. and The donor has imposed conditions which must be rne beforÈ the charlty has uncondltlonal entitlement. Interest on funds held on dÈposit Is included when recelvable and the amount can be measured reliably by the charityp thls Is normally upon notification of the interest paid or repayable by the Bank. 12-
THE AMMERDOWN CENTRE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 AccountinE politles Icontlnuedl Income is measured at the fair value of the con5ideratlon recelved or recelvable and represents amounts receiv4ble for goods and servlces provided in the normal course of business, net of discounts. VAT and other leS related taxes. 1.5 Resources expended Expenditure Is recognlsed once there Is a legal or constructive obligation to make a payment to a thlrd party. it is probably that 5ettlemÈnt will requlred and the amount of the obligation czn be measured reliably. Fundr31sing costs are those incurred in seeking voluntary contributions and do not Include the costs ol disseminating information in support of the charitable activities. Support costs are those costs Incurred dlrectly Sn support of expenditure on the objects of the charlty and Include project management carried out at Headquarters. Governance costs are those incurred in Connection with adminlstration of the charlty and compllance with constitutional 4nd staruiory requlrements. Grants payable are charged in the year when the offer is made except in those ca5e5 where the offer is conditional. su¢h as grants being recogni5ed a5 expenditure when the tonditlons attaching are fulfilled. Grant5 offered subject to condltions which have not been met at the year end are noted hs a commitment, but not accrued as expenditure. 1.6 TanElble tixed assets Taneible fixed assets are initially measured at cost 3nd subsequently measured at cost or valu8tlon. net of depreclation and 4ny impalrment losses. Depre¢lation Is rÈcognlsed so as to write off the cost or valuation of a55ets le5$ their Sid31 values over thelr useful lives on the following bases.. Lènd and buildings Plant and machinery Fixtures, fittines & equipment Staleht Ilne over 50 ye3rs 15% reducing balance / 5% straight line / IO% straight line 15% reducing balance125% reducing ba13nce The gain or1055 arising on the disposal of an asset Is determlned as the difference between the Sale proceeds and the carrying value of the asset, and is Tecogni5ed in net incomellexpendlturel for the year. Only Items over £5(X) are capitsllsed. 1.7 InvÈstment propertles Investment property, which Is PrOrtY hÈld to earn rentals andlor for capltal appreciation, 15 initially recogni5ed at cost, whlch Includes the purchase cost and any directly attributable Èxpendlture. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recogni5ed in profit or105S. 1.8 Fixed asset iNvestrnents Fixed 8sset investments are initially measured 3t transaction prlce exc1udlng transaction costs. and are subsequently me35ured at fair value at each reporting date. Changes in fair value a recognised In net Incomellexpendlturel for the year. Transaction costs are expensed as Incurred. 13-
THE AMMERDOWN CENTRE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting policles Icontlnuedl 1.9 Impalrment of fixed assets Recoverable amount is the hlgher of falr value less costs to sell and value in use. In assessing value In use, the estlmated future Cash IIow5 are discounted to thelr present value uslng a pre-tsx discount rate that reflect5 Current market assessments ol the tiffle value of rnoney and the risks spetiFic to the asset lor which the estimates ol future c3sh flows have not been 8dlusted. If the recoverable arnount of an asset Is estlmated to be less than it5 carrying 3rn0unt, the ¢arryinÈ amount of the asset Is reduced to its recoverable amount. An impalrment loss Is recognlsed Immedlately in incomellexpenditure for the year. unless the relevant asset is carried 3t 3 revalued arnovnt, in whlch case the impairment Ioss is treated as a revaluation decrease. Recognised impairment1055e5 are Ver5ed if, 8nd only if, the reasons for the impairment loss have ceased to apply. whe an impairment loss subsequently reverses. the carryinE arnount of the asset Is Incre8sed to the revlsed estimate of its recoverable 3mount, but so that the Increased carrying amount does not exceed the tarrying amount thar would have been determined had no impalrment loss been recognised for the asset in prior year5. A reversal of 3n impairment loss is recoenised immediatelyj unless the relevant a55et 15 carried ar a rev81ued amount. in which case the reversal ol the impairment loss Is treated as a revaluation incre45e. 1.10 Stocks Stocks are stated at the lower ol cost and estimated Selling price less costs to complete and sell. Cost compri5e5 direct materials and, where applicable. direct labour costs and those overheads that have been incurred in bringing the stocks to their present lotation and conditlon. Items held for distributvjn at no or nominal conslderatlon are measured the lower of replacement cost and cost. Net reallsable vaSue is the estirnated selling prlte less all estlmated costs of completion and cost5 to be incurred In marketing. selling and distribution. 1.11 Cash and ¢ash e4ulvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with orlgSnal maturities ol three month5 or less, and bank overdrafts. Bank overdrafts are shown within borrowings in 1.12 F5nan£lal Instruments The charlty has elected to apply the provisions of Sectlon 11 'Baslc Flnanclal Instruments, and Section 12 '0ther Flnancial Instruments Issues, of FRS 102 to all of its financial instrurnentS. Flnanclal instruments are reco8nised in the charity's balance sheet when the charity becomes party to the contractU31 provisions of the instrument. Financial assets and liabilities a offset, wfth the net amounts presented in the linanclal statements, when there Is 8 legally enforceable right to set off the recogni5ed amounts and there Is an Intention to settle on a net ba515 or to realise the asset and settle the Ilabllity simultaneou51y. BosicAlnumclolossets Basic financial assets, which Include debtors and cash and bank balances, are initially measured at tr8nsaction price including transaction cost5 and Bre subsequently carried at amortiseLI cost using the effective interest method unless the arrangement constitutes a financing tron5OCtion, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classlfied as receivable wlthin one year are not amort15ed. 14-
THE AMMERDOWN CENTRE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting poli¢les Icontinuedl Bosicfintiftcitsllitsbilities Basic financial liabilities, including trÈditors and bank 103ns are In5tlally recognised at transaction price unless the arran8ement consiitutes a financing transaction, where the debt in5trum@nt is measured at the present value of the future receipts discounted at 8 market rate ol interest. Financial liabilitie5 classified 35 payable within one year are not amort15ed. Trade creditors are obli8ations to pay for goods or services that have been acqulred In the ordlnary course of operatlons from suppliers. Amounts payabl& are classified as current liabilities if payment is due wlthin one year or less. If nol, they are presented as Don-current liabilities. Trade creditors are recoenised initially at transaction price and Subsequently measured at amortised cost using the effectivè interest method. Borrowings consist wholly of a public benefit concesslonary loan. Publlc beneflt concessionary loans are loans received bÈtweÉn a publlc benefit entity and another party at below the prevalling market rate of Interest and that are not repayablÈ on demand and are for the purposes of furthering the objectives of the public benefit entity. The accounting treatment for concÉsslonary loans is to initially measure these arrangement5 at the 3mount receivèd or paid and recognise thern in the statement of financial p051tion. Subsequent years. the carrying amount of con£es5ionary loans the tin8t)cial statements sh311 be adjusted to reflect accrued interest payable or receivable. Derecognltlon ofJinanciolliubillties Financi31 liabilitles are dÈrecognised when the charity's contractual obligations explre or are dlscharEed or cancelled. 1.13 Employee benellts The cost of any unused holiday entitlement is recognised in the perlod In whlch the employee's servlces are received. Termin3tion beneflts are co&n[sed immedlatety as an expense when the charity 15 dernonstrably committed to termlnate the employment of an employee or to priJvidÈ termination benefits. fermin8tion benefits are mezsured at the best estlmare of the expenditure that would be required to settle the OblitIOn at the reportlng date. 1.14 Retirement beneflts Payments to defined contribution retirement benefit schemes a charged as an expense as theyfall due. 1.15 Government grants Government grant5 are recoEnis@d at the fair value of the èsset received or re1¥able when there is rea50nab assurance thèt the grant conditions will be met and the grants wlll be recelved. Governrnent grant5 l&ting to turnover are recognlsed as Incorne over the period5 when the related costs are Incurred. Grants relatlng to an asset are recogni5ed in Intome systematically over the asset's expected useful life. If part of such a grant is deferred It Is recognised as deferred income rather than being deduttÈd from the asset's carrying amount. 15-
THE AMMERDOWN CENTRE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 Crltlcal accountlng estlmates and ludgernents In the application of the charitrfs aitounting pollcles, the trustees are required to rnake judgements, estimates and assumptions about the carryin8 amount ol asset5 and liabilities that are not readily apparent from other sources. The e5tirnates and 8ssoclated assumptions are based on historical experience and other factors that are considered to be relevant. Actual su7t$ may differ from these estimates. The estlmates and underlylng assumptions are reviewed on an ongolng basis. Revisions to accounting e5timate5 are retognisÈd in the perlod in which the estimate is revised where the revision affects only that period, or in the Feriod of the revision and future periods where the revision affects both current 4nd future periods. Key sources of estimation uncertaintv The estimates and assumptions which have a significant rlsk of causing a material adjustment to the carrwng amount of assets and liabilities 8re as follows.. Estirnated useful Ilves of tanglble Ilxed assets In determining the Èstim3ted useful life the charity con5ider5 the expected physlcal wear and tear of the asset that could lead to ob501e5cencè of the asset. Each year the charity review5 the above to establish If there Is any change In the expected useful life ol tsngible assets. Donatlons and legacles Unrestricted funds 2021 Restricted funds 2021 Totsl Total 2021 2020 Donatlons and glfts Legacies receivable Grants received Govemement grants 43,956 9,503 11.387 55,343 9,503 13,172 49,731 17,594 203,180 14,070 150,844 13,172 49,731 103,190 24,559 127,749 385,688 Forthe year ended 310ecember 2020 367,447 18,241 385.688 Charitable activities 2021 2020 Ineomlne resources from charitable activitie5 Cott88e rental income 398,147 23,876 167,040 17,158 422.023 184,198 16-
THEAMMERDOWN CENTRE NOTESTO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Other tradlng actlvltles 2021 2020 Actlvltles for generatlng funds 19,074 6,270 InStMentS Unrestrlcted funds 2021 Restricted fund5 2021 Total Total 2021 2020 Rental Income Income from listed investments Income from uDli%ted investments Interest CeIVable 12,754 12,754 27,710 910 74 12,764 12,764 28,700 For the year Ènded 31 December 2020 28.626 74 28,700 Other income 2021 2020 OFGEM Grant 29.302 27.341 17-
THE AMMERDOWN CENTRE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 Raislng funds Unrestricted lunds RestTlCted funds Toial 2021 Total 2020 Property rental Rentsl eKpenditure 10.460 10,460 6,054 Tradin COSts Other trading actlvltles 6.039 6,039 7,809 Investment mana ement 3,290 1,096 4,386 4.058 19.789 1,096 2a,885 17,921 For the year ended 31 December 2020 Property rental Tradlne costs Investment mèn3gement 6,054 7,809 3,095 6,054 7,809 4,058 963 16.958 963 17,921 18-
THE AMMERDOWN CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Charitable activitles 2021 2020 Staff costs Depreciatlon and loss on disposal of fixed assets Course expenses Other staff c05t5 Utilitie5 and household expÈnses Telephone, postage and stationery Travel costs Advertlsing and marketing Finance cost5 Maintenance and r@palrs Contracts Caterlng Legal and professlonal Accountancv General expenses VAT partial eKemption adjustments 160,967 62,521 30,708 4,225 113,348 22,079 339 386,374 58,954 24.668 1,581 69,884 20,314 335 1,945 2,306 18,461 5.943 23.982 12,660 2,300 13,412 7,964 2.002 3,258 48.886 2,712 194.237 7.255 2,350 3,070 37.880 695,837 651.083 Grant funding of activitie5 (see note 101 Share of governance costs (see note Ill 2,044 2,185 1.187 2,714 700,066 654,984 Analy515 byfund Unrestrictèd funds Restrlcted funds 689,124 10,942 700.066 For the year ended 31 December 2020 Unrestricted funds Restrlcted funds 635.129 19.855 654,984 19-
THE AMMERDOWN CENTRE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2021 10 Grants payable 2021 2020 Shelter The Dairy House 131 621 131 621 Grants to individuals 1,913 566 2,044 1,187 11 Support costs Support Costs Governance costs 2021 2020 Independent E¥aminer'5 fees Trustees expenses other costs 1.650 475 1.650 475 60 1.6LK) 1,054 2.185 2.185 2.714 Analysed between Charitable activitles 2,185 2,185 2.714 Governance costs Sncludes payments of £1,650 for Independent Eyamlnatlon fees12020.'£1,6001. In addition to the Indepèndent Examlnatlon fees ère fees payable to the independent examiner 01 £2,35012020..£2.3001 in respect of accountancy services and advice and E3,29012020..£3,0951 in respect of financial planning. 12 Trustees One of the trustees lor any persons connected with them) recelved £91 reMuner3tion durin8the year12020..Enill. Three of the trustee5, were reimbursed a total of E285 trèvÈllln8 expenses12020..£9201. £nil miSlIaneOuS expenses 12020..£141, and £60012020..£2501 course e¥pen5e5. -20-
THE AMMERDOWN CENTRE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 13 Employees The average monthly Dumber of employees during the year was.. 2021 Number 2020 Number li 15 Employment cost$ 2021 zozo Wages and Salaries Soci31 se(rItY costs Other penslon costs 145,384 12,001 3,582 360,109 18,046 8,219 160,967 386,374 There were no employees whose annual remuneratlon was £60,000 or rTh)re. 14 Net gainslllo55e51 on investments Unrestricted Endowmeni funds funds general 2021 Totsl Total 2021 2021 2020 Rev31uatlon ol Investments Rev31uation of investment properties 17,847 108.219 9,454 27,301 108,219 2,288 47,808 126,066 9,454 135,520 50,096 For the year ended 31 December 2020 51.053 19571 50,096 -21-
THE AMMERDOWN CENTRE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 15 TanBlble flxed assets land and building5 Plant and machlnery Flxtures, fittings & equipment Total Cost At l January 2021 Additions Dlsposals 1,855,900 244,114 21.263 16501 58,437 41,555 14,7931 2,158,451 62,818 15,4431 At 31 DecemkEr 2021 1,855,900 264,727 95.199 2.215,826 Depreciation and impairment At l January 2021 Depreclatlon charyed In the year Eliminated in respect of disw)sals 532,043 36,918 92.255 12,388 13111 31,282 12,035 13,9521 655,580 61,341 14,2631 At 31 December 2021 568.961 L04.332 39,365 712,658 Carrying amount At 31 December 2021 1,286,939 160.395 55,834 1.503,168 At 31 December 2020 1,323,857 151,859 27,155 1,502,871 16 Investment propertv 2021 Fair value At l Jènuary 2021 Net galns or losses through fair value adjustment5 702,718 108,219 At 31 December 2021 810.937 On 02 May 2018. the falr value of the Investment propertv Was arrived at on the basis of a valuation carried out by Allen re5ident131 rural & country property lettlng agents. who are not connected with the charity. The valuation was made on an open market value b3515 by location and referÈrttÈ to market èvidente of transactlon prlces for similar properties. An has been applied by the directors 8t 31 December 2021 to reflect the increase in property prices In Somerset per the UK House Price Index. -22-
THE AMMERDOWN CENTRE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 17 Flxed a55et Inve5trnents Listed Investments Unlisted investments Total Cost orvaluation At I january 2021 Additions 329,572 27,301 7.997 14.3861 337,569 22.915 At 31 December 2021 356,873 3,611 360,484 CaTrylng amount At 31 December 2021 356,873 3.611 360,484 At 31 December 2020 329,572 7.997 337.569 Materlal Investments December 2021 Dlmenslonal Blobal short dated bond accurnu13tion L&G all stocks index linked gilt index trust l accumulation L&G International indeK trust institutional accurnulatlon L&G UK index trust institutionzl accumulation 133,038 26,840 36.210 52 224 613 18 Flnanci81 instruments 2021 2020 Carrylng amount of flnan¢lal assefs Instruments rneasurÈd at falrvalue through profit or loss 356,873 329,572 19 stocks 2021 2020 Flnlshed goods and goods for resale 3,649 5,600 23-
THEAMMERDOWN CENTRE NOTES TO THE FINANCIALSTATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 20 Debtors 2021 2020 Amounts lalling due wlthln one year: Trade debtors Other debtors Prepayments and accrued Income 13,928 458 3.235 36,041 27,918 41,846 39,734 21 Loans and overdrafts Z021 zozo Debenture loans 34,110 48,500 Payable wlthln one ye8r Payable after one year 34,110 14,390 34,110 Tht loons were mode by Lord Ftylton to Ammerdown on ulree-interest bJ515. Some of these loqns hove beer) converted by LordHylton Into olfts. There Is no repoymentschedule in connection to the Ioiln. 22 Credltors: amounts lalllng dLtÈ wlthln one year 2021 2020 Note5 Borrowing5 Other taxation and soclal securlty Deferred Income Trade creditors Other creditor5 Accruals and deferd Income 34.110 8,263 72,615 51,224 1,761 5.182 14.390 9,683 75,242 27,975 1,532 6,519 24 173,155 135,341 23 Credltors.. amounts falling due after more than oTre year 20ZI 2020 Borrowlngs 34,110 -24-
THEAMMERDOWN CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 24 Deferred Income 2021 2020 Other deferred income 72.615 75.242 72,615 75,241 72,615 75,242 Movement in the year 2021 2020 At l January 2021 Amount released to income earned from charitable activities Amount deferred in the year 75,242 175,2421 72,615 98.706 198.7061 75,242 At 31 DetrmLEr 2021 72.615 75,242 The deferred income ts from deposirs that have been made In advance of booklngs in future years. 25 Retlrement benefit schemes DefJnÈd tontrlbutlon schemes The charlty oper8res a defined contribution pension scheme for all qu3lifying employee5. The assets ol the scheme are held separat@Iyfrom those of the charity In an independently 3dministered fund. The charge to profit or loss in respect of defined contribution schemes was £3,82912020'.£8,2191. At the year end, the Ammerdown Centre had outstandlng commitments of £1.122 in relation to the pension contribution scherne. Thls included in credltors: amounts falling due withln one year under accruals. 25-
THEAMMERDOWN CENTRE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 26 Endowment funds Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment fund5 can be used In accordance wSth the oblects of the charlty 8nd Is Included Bs unrestrlcted Income. Any capltal gain5 or losses arisine on the assets form part of the fund. MovÈmÈnt in funds Intoming Re50urce5 Galn51lLossesl Balance at 31 Resources Expended and Transfers December 2021 Balance at I January 2021 Permanent endowments Bursary fund 82,108 9,454 91,562 82,108 9,454 91,562 Prlor year Movement in fund5 Incomlng Resources GalnsllLossesl Balance at 31 Resources Expended and Transfers December 2020 Balance at i January 2020 Permanent endowments 8ursary fund 83.065 19571 82,108 83,065 19571 82,108 -26-
THE AMMERDOWN CENTRE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 27 Restricted funds The Income funds of the charfty Include restrlcted funds comprlslng rhe followlng unexpended balances of donations and grants held on trust for Specif purwse5.' Movement irt funds Incoming Resources Transfers Resources Expended Ualance at I January 2021 Balance at 31 December 2021 Equlpment and refurblshment fund Chapel fund Bursaries PÈaÈe Garden Interfalth project Toilet Twinning Ken Biggs Memorial Garden 50th Blrthday Fund NHS Retreat 4,140 622 907 518 594 20 1,271 14,7341 16221 12,1781 11081 11.4001 11801 20 410 26,475 13.172 186 4,000 2,500 1,058 1.758 38.247 4,000 2,500 11.0581 11.7581 32,662 24,559 112,0381 45,183 Prior year MovÈmÈnt in funds Resources Transfers Expended Balance at I January 2020 Incoming Resources Balance at 31 December 2020 EquipmÈnt and refurbishment fund a)apel fund Bursaries Peace Garden Interfa5th prolect 5,314 622 3.000 14,1741 4,140 622 1,191 518 27,520 1.245 11.5291 907 518 14.070 115,1151 26,475 35,16S 18.315 120.8181 32,662 27-
THE AMMERDOWN CENTRE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 27 Restricted funds Icontinuedl Equipment and refurbishment Fund - Money donated to help the Centre purchase small Items of equipment and furnlshlngs to asslst wlth refurbishments. Chapel Fund- Monles ralsed to enhance the spiritual experience of Ammerdown guests. Bursary Fund - The income is used to asslst people on low incomes to attend courses run at the Arnmerdown Centre. Peace Garden Money don3ted to create a small peace garden. Interfaith project- The Methodist Conference ralled the Methodist people to challenge raci5rn and dis¢rimlnation,' to speak and att for healln& reconclllation and mutual respect In their own communities. The Ammerdown Project seeks to do this by engaging with people who havÈ bÈen victims of raclèl abuse, partlcularly abuse related to their faith, and with those projects that are eng3ged in addre55ing raciil injustice and working towards improved ommunity intÈgratlon, to identify best practice and actively prornote its replication. Toilet Twinning - Toilet Twinning is an Inlti8tlve which invltes people to twin their own toilet with latrilles in pr communities. Ammerdown's aim 15 to twin all their toilet5. Ken Blggs Memor181 Garden- A garden in memory for Ken Briggs, 3 long-standing member of Ammerdown frlends. 50th Birthday fund Ammerdown wlll be 50 In 2023. So, we WIIS be celebrating throughout the year with different events. NHS Retreat- A relaxing and nourishing break for Chaplin'5 that work in the NHS to stay at the Ammerdown Centre. Defibrillator- Defibrillator fund to help buy on for the cent and wider cotnrnunityto Use. 28 Analysls of net assets between funds Unrestrlcted Restrlcted lunds funds Endowment lunds Yotal Fund balances at 31 December 2021 are represented by.. Tanglble assets Investment properties Investments Current assets/lllabllltlesl 1.503,168 810,937 268,922 114,7161 1.503,168 810.937 360,484 3a,467 91,562 45,183 2.568,311 45,183 91,562 2.705,056 Prior year Unrestrlcted Reslrlcted fund5 funds Endowment fund5 Total Fund balances at 310ecember 2020 a presented bv.. Tangible 3s5ets Investment propertl&s Investments 1.502,871 702,718 255,461 137,865 134.1101 1,502,871 702,718 337,569 170,527 134,1101 82.108 32.662 Long term liabilities 2,564,805 32,662 82,108 2,679,575 28-
THE AMMERDOWN CENTRE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 29 OperatSng lease commltments At the reporting end date the charity had outstanding commitments for future minimurn lease payments under non- cancellable operating leases. which fall due as follows.. 2021 2020 Within one year Between two and five years 5,957 9,838 6,210 15.795 15,795 22,005 Arnounts recognised in the statement of financial activities 3$ a C05t during the period in respect of operating lease arrangements amounted to E3.14212020..£2,0291. 30 Related party transactlOll5 At the year end £34,11012020..É48,5001 was due ro Lord Hylton who w8s a Trustee ol The Ammerdown Centre Limited. There are no specific terffl5 and condition5 attached to this balancÈ. ThÈ aging of this balantè has been determined wlth reference to the expectation that this balance will be gifted to The Ammerdown Centre during the year ended 31 December 2022 8nd hence £34.11012020..£14,3901 is disclosed within creditors, amounts falling within one year and £nll12020.'E34,1101 Is dlsclosed wlthln credltors. amounts falllng due after more than one year. 31 Cash generated from operations 2021 2020 Surplus for the year 25,481 9,388 Adju5trnÈnts for.. Investment Income recognlsed in statement of ftnanclal actlvlties Loss on disposal of tangible fixed assets Fair value gains and losses on investment properties Fair value gains Ènd losses on investments Oepreclatlon and Impalrment of tanglble flxed assets 112,7641 1,180 1108,2191 122,9151 61.341 128.7001 147,8081 1.686 58.954 Movements in worklng c4pltal.. Decrease in stocks Ilntreas@I In debtors Increase/ldecreasel in cred5tor5 (Decrease) in deferred income 1,951 12.1121 20,721 12,6271 4,002 112,1711 116,6321 123,4641 Cash absorbed by operatlons 137,9631 154,7451 29-
THE AMMERDOWN CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 32 Analysls of ¢hanzes In net funds At ljènuary 2021 Cashllows At 31 DecemJ>Èt 2021 Cash at bank and in hand 260.534 1102.4071 158.127 Loans falllng due wlthln one year Loèns falling due after more than one year 114.3901 134.1101 119,7201 34,110 134,1101 212.034 188,0171 124,017 30-
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