2021-12-31-accounts

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Charity No. 1010814

ALLERTON RESEARCH AND EDUCATIONAL TRUST

STATEMENT OF ACCOUNTS

31 DECEMBER 2021

FLETCHER & PARTNERS

CHARTERED ACCOUNTANTS

SALISBURY

Page 1

REPORT OF THE ACCOUNTANTS TO THE TRUSTEES OF THE GAME AND WILDLIFE CONSERVATION TRUST ON THE ACCOUNTS OF THE ALLERTON RESEARCH AND EDUCATIONAL TRUST

We report on the management accounts of the Allerton Research and Educational Trust which are set out on pages 2 to 12, and which have been compiled from the accounting records of the Allerton Research and Educational Trust and from information and explanations which have been supplied to us.

The Allerton Research and Educational Trust is the subject of a Uniting Direction issued by the Charity Commission on 8 March 2006 whose effect is that the accounts of the Allerton Research and Educational Trust are combined with those of The Game and Wildlife Conservation Trust for reporting purposes.

We have not been instructed to carry out an audit of the accounts of the Allerton Research and Educational Trust. For this reason, except in the context of our audit of the consolidated accounts of the Game and Wildlife Conservation Trust, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us, and we do not, therefore, express any opinion on these accounts.

Salisbury

FLETCHER & PARTNERS Chartered Accountants 30 June 2022

Page 2

ALLERTON RESEARCH AND EDUCATIONAL TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

Unrestricted Restricted Funds Funds INCOME AND EXPENDITURE INCOME Activities in furtherance of the charity's objects Farm income 134,175 - Farm subsidies 104,772 - Lectures and tours 12,415 - Research contracts and grants 486,613 59,128 737,975 59,128 Investment income Dividends and interest 32,503 - Estate income 112,029 - 144,532 - Other income 66,469 - Total incoming resources 948,976 59,128 EXPENDITURE Activities in furtherance of the charity's objects Research project 532,397 - Farm direct costs 168,918 - Farm overheads 29,352 - 730,667 - Other Expenditure Estate expenses 94,795 - Farm management and admin 7,613 - Total resources expended 833,075 - Net income/(expenditure) before transfers 115,901 59,128 Transfers between funds - - Net income/(expenditure) for the year before investment gains 115,901 59,128 Gains / (losses) on investments Realised - - Unrealised - - 115,901 59,128 Transfers between funds - - Net movement in funds 115,901 59,128 Fund balances brought forward 190,379 91,872 Fund balances carried forward £306,280 £151,000	Endowment Funds - - - - - - - - - - 8,740 - - 8,740 4,150 - 12,890 (12,890) - (12,890) 65,616 180,730 233,456 - 233,456 4,882,357 £5,115,813	Total 2021 134,175 104,772 12,415 545,741 797,103 32,503 112,029 144,532 66,469 1,008,104 541,137 168,918 29,352 739,407 98,945 7,613 845,965 162,139 - 162,139 65,616 180,730 408,485 - 408,485 5,164,608 £5,573,093	Total 2020 248,339 91,797 15,478 401,535 757,149 39,648 64,577 104,225 10,784 872,158 478,935 252,403 10,828 742,166 93,768 9,541 845,475 26,683 - 26,683 (58,259) 138,815 107,239 - 107,239 5,057,369 £5,164,608

Page 3

ALLERTON RESEARCH AND EDUCATIONAL TRUST BALANCE SHEET

AS AT 31 DECEMBER 2021

2021 2,560,507 2,264,776 767,799 500 3,033,075 5,593,582 142,361 500,844 174,044 817,249 645,390 171,859 5,765,441 192,348 £5,573,093 5,115,813 151,000 306,280 £5,573,093	2020	2020
2,264,776 767,799 500 142,361 500,844 174,044 817,249 645,390	2,079,202 316,052 500 108,603 479,154 483,898 1,071,655 255,313	2,173,523 2,395,754
		4,569,277 816,342
		5,385,619 221,011
		£5,164,608
		4,882,357 91,872 190,379
		£5,164,608

Page 4

ALLERTON RESEARCH AND EDUCATIONAL TRUST NOTES TO THE ACCOUNTS AS AT 31 DECEMBER 2021

1. ACCOUNTING POLICIES

a. Basis of Accounting

The Accounts have been prepared under the historical cost convention, modified for the revaluation of investments, and in accordance with the Charities Act 2011 and applicable accounting standards. In preparing the accounts the Trust follows best practice as set out on Charities SORP FRS 102 issued in January 2019.

b. Income

Income is accounted for on the receivable basis, provided that it is known with reasonable certainty that an item of income will be received and it can be measured with sufficient reliability. Where relevant, income is stated net of Value Added Tax. Otherwise no expenditure is netted off against income.

c. Expenditure

Resources expended are allocated to the appropriate headings on the Statement of Financial Activities. Where employees work on more than one area of the Trust's activities then the relevant costs are apportioned on the basis of the time spent.

d. Tangible Fixed Assets

Tangible fixed assets are depreciated on a straight line basis over their estimated useful economic lives using the following annual rates:

Freehold land Nil Buildings and improvements 1% to 4% Plant and equipment 10% to 33%

A nil rate is used for freehold land because the Trustees consider that its life is indefinite.

e.

Investments

Investments are carried in the Balance Sheet at market value. Unrealised gains on investments are shown in the Statement of Financial Activities and are credited to the funds in which the respective investments are held.

f. Farm stocks

Farm stocks are valued on the following basis:

Growing crops: At estimated cost. Stock in store: At the lower of cost and net realisable value. Crops in store and sheep: At estimated market value.

g. Liabilities

Liabilities are recognised when the Trust has a (legal or constructive) obligation arising as a result of past events.

h. Fund Accounting

Funds held by the Trust fall into the following four groups:

(i) Unrestricted General Fund

This consists of funds which can be used, at the discretion of the trustees, in accordance with the charitable objects of the Trust.

(ii) Research Fund

This fund consists of income which has been designated by the Trustees specifically for expenditure on certain research projects.

(iii) Restricted Funds

These are funds which can only be used for particular purposes within the objects of the Trust. Restrictions arise either when they are specified by the donor or when funds are raised for a specific purpose. In most cases the restriction is that the funds have to be spent on a specific research project or group of research projects.

(iv) Endowment Funds

These are capital funds which were created at the inception of the Trust. The income is available for the Trust's general purposes and (as explained in Note 10) some of the capital may also be spent for specific purposes.

h. Pension Costs

Contributions in respect of the Trust's defined contribution scheme are charged as expenditure in the period to which they relate.

i. Forestry Costs

Planting and similar costs, less grants received, are charged to expenditure in the year in which they are incurred.

Page 5

ALLERTON RESEARCH AND EDUCATIONAL TRUST NOTES TO THE ACCOUNTS (CONTINUED) AS AT 31 DECEMBER 2021

2. TANGIBLE FIXED ASSETS

COST At 1 January 2021 Additions Disposals At 31 December 2021 DEPRECIATION At 1 January 2021 Charge for the year Disposals At 31 December 2021 NET BOOK VALUE At 31 December 2021 At 31 December 2020 INVESTMENTS Market value at 1 January 2021 Additions at cost Disposals at opening market value Unrealised gains on revaluation Increase/(decrease) in cash Market value at 31 December 2021 Cost at 31 December 2021 Cost at 31 December 2020	Freehold Land, Buildings & Improvements 2,590,956 407,600 - 2,998,556 546,057 37,081 - 583,138 £2,415,418 £2,044,899 Portfolio A 2,079,202 1,075,354 (911,530) 133,038 (111,288) £2,264,776 £1,989,984 £1,623,874	Research Plant & Equipment 201,379 9,257 (14,640) 195,996 178,609 8,673 (14,640) 172,642 £23,354 £22,770 Portfolio B 316,052 622,771 (216,588) 47,692 (2,128) £767,799 £700,259 £255,545	Farm Plant & Equipment 374,924 43,334 - 418,258 269,070 27,453 - 296,523 £121,735 £105,854 Other 500 - - - - £500 £500 £500	Total
				3,167,259 460,191 (14,640)
				3,612,810
				993,736 73,207 (14,640)
				1,052,303
				£2,560,507
				£2,173,523
				Total
				2,395,754 1,698,125 (1,128,118) 180,730 (113,416)
				£3,033,075
				£2,690,743
				£1,879,919

3. INVESTMENTS

Page 6

ALLERTON RESEARCH AND EDUCATIONAL TRUST NOTES TO THE ACCOUNTS (CONTINUED)

AS AT 31 DECEMBER 2021

4. STOCKS

STOCKS
Growing crops Stock in store Crops in store	2021 39,099 34,472 68,790 £142,361	2020 25,803 51,563 31,237	2020
		£108,603

5. DEBTORS 2021 Trade debtors 98,441 VAT recoverable 6,165 Other Debtors 106,238 Loan to Scottish Demonstration Farm 290,000 £500,844 6. CREDITORS: Amounts falling due within one year 2021 Mortgage 19,393 Trade creditors 21,170 Hire purchase 4,888 Due to Game & Wildlife Conservation Trust 577,558 Due to Game & Wildlife Conservation Trading Ltd 345 Accruals and deferred income 22,036 £645,390 7. CREDITORS: Amounts falling due after more than one year 2021 Mortgage 192,348 Hire purchase - £192,348 8. ENDOWMENTS Property Endowment Endowment Fund Fund 'A' Fund 'B' As at 1 January 2021 2,155,938 2,316,598 409,821 Net expenditure (4,150) (7,214) (1,526) Realised gains on investments - 59,946 5,670 Unrealised gains on investments - 133,038 47,692 As at 31 December 2021 £2,151,788 £2,502,368 £461,657	2020 113,928 17,323 57,903 290,000	2020
	£479,154
	2020 18,659 47,312 4,888 137,465 21,848 25,141	2020
	£255,313
	2020 209,633 11,378	2020
	£221,011
	Total
	4,882,357 (12,890) 65,616 180,730
	£5,115,813

Page 7

ALLERTON RESEARCH AND EDUCATIONAL TRUST SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021

2021		2020
Expenditure 182,658 205,962 152,517 541,137 37,564 1,450 3,105 32,559 24,267 98,945 205,883 £845,965	Income 165,855 256,095 45,495 467,445 29,775 2,679 915 24,575 98,430 156,374 248,339 £872,158	Expenditure 142,084 210,954 125,897 478,935 27,687 4,063 1,721 37,270 23,027 93,768 272,772 £845,475	Surplus/ (Deficit) 23,771 45,141 (80,402)
			(11,490)
			2,088 (1,384) (806) (12,695) 75,403
			62,606
			(24,433)
			£26,683

Page 8

ALLERTON RESEARCH AND EDUCATIONAL TRUST RESEARCH PROJECT INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021

FOR THE YEAR ENDED	31 DECEMBER 2021
INCOME Lectures and tours Research contracts and grants Donations Sponsorship Hire of community centre Investment income Sundry receipts EXPENDITURE EMPLOYEE COSTS Salaries and wages Pensions and life cover Recruitment and training VEHICLES AND TRAVEL COSTS Running costs and repairs Public transport Accommodation and subsistence RESEARCH PROJECTS AND FIELD WORK Direct costs of research projects OVERHEAD CHARGES AND MAINTENANCE Repairs and maintenance Loose tools and equipment Light and heat Rates and water ADMINISTRATIVE AND FINANCIAL EXPENSES Books, stationery and computer software Postage, telephone, printing and publications Meetings, conferences and public relations Audit and accountancy Legal and Professional fees Training courses Sundries Bank charges and loan interest Community centre expenses Recharge to GWCT Trust DEPRECIATION TOTAL EXPENDITURE NET EXPENDITURE TRANSFERRED TO INCOME AND EXPENDITURE ACCOUNT	2021 12,415 445,633 100,108 3,000 2,672 32,503 60,797 657,128 282,876 15,857 355 299,088 5,694 1,636 - 7,330 135,172 135,172 11,824 79 8,589 5,038 25,530 516 7,041 - 2,500 12,795 13,767 6,216 4,850 - - 47,685 26,332 26,332 541,137 115,991 £	2020 15,478 372,212 29,323 8,500 1,780 39,648 504 467,445 267,952 22,079 - 290,031 4,358 741 - 5,099 118,217 118,217 14,543 46 8,876 (19,695) 3,770 1,175 7,016 - 2,500 9,211 19,992 1,119 6,314 894 (10,964) 37,257 24,561 24,561 478,935 (11,490) £
	12,415 445,633 100,108 3,000 2,672 32,503 60,797 282,876 15,857 355 5,694 1,636 - 135,172 11,824 79 8,589 5,038 516 7,041 - 2,500 12,795 13,767 6,216 4,850 - - 26,332	15,478 372,212 29,323 8,500 1,780 39,648 504 267,952 22,079 - 4,358 741 - 118,217 14,543 46 8,876 (19,695) 1,175 7,016 - 2,500 9,211 19,992 1,119 6,314 894 (10,964) 24,561

Page 9

ALLERTON RESEARCH AND EDUCATIONAL TRUST ESTATE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021

FORESTRY Sale of timber Woodland grants Staff costs Maintenance and management Depreciation RENTAL ACCOUNT Cottage rents Other rent Grazing rent Repairs and maintenance Staff costs Legal and professional fees Depreciation Other costs SHOOT Shoot income - do - re previous year Shoot expenses (including recharged salaries) OTHER INCOME AND EXPENDITURE Single Payment Countryside Stewardship Donation / Sponsorship Solar power receipts Sponsorship and other income Staff costs Stewardship costs Hire of machinery Depreciation Other costs NET INCOME TRANSFERRED TO INCOME AND EXPENDITURE ACCOUNT	2021 - 916 - (3,075) (30) (2,189) 34,459 12,000 2,979 (30,787) (2,200) - (6,940) 913 10,424 37,750 7,391 (32,559) 12,582 59,528 45,244 - 2,371 14,163 (18,000) (2,074) - (2,854) (1,339) 97,039 117,856 £	2020	2020
	- 916 - (3,075) (30) 34,459 12,000 2,979 (30,787) (2,200) - (6,940) 913 37,750 7,391 (32,559) 59,528 45,244 - 2,371 14,163 (18,000) (2,074) - (2,854) (1,339)	- 915 (690) (942) (89) 29,775 - 2,679 (17,931) (3,605) - (5,831) (4,383) 24,575 - (37,270) 66,210 25,587 - 6,544 89 (16,580) - (660) (2,854) (2,933)	(806) 704 (12,695) 75,403
			£62,606

Page 10

ALLERTON RESEARCH AND EDUCATIONAL TRUST FARM INCOME AND EXPENDITURE FOR THE YEAR ENDED 31 DECEMBER 2021

ARABLE INCOME Oil seed rape Winter barley Winter wheat Beans Oats Less: COST OF SALES Valuation at 1 January 2021 Cultivation Less: Valuation at 31 December 2021 GROSS MARGIN (Page 11) OTHER INCOME Sundry income Less: DIRECT EXPENSES Valuation at 1 January 2021 Labour (Page 12) Other direct costs (Page 12) Less: Valuation at 31 December 2021 Less: OVERHEAD EXPENSES Overhead costs (Page 12) Recharged to other cost centres (Page 13) Depreciation (Page 12) Profit on disposal (Page 12) FARM (DEFICIT) FOR THE YEAR	2021 14,494 11,685 49,678 14,431 37,746 128,034 128,034 103,696 89,616 193,312 (138,998) 54,314 73,720 6,141 79,861 4,907 59,767 53,293 117,967 (3,363) 114,604 (34,743) 22,396 (21,400) 37,052 (1,083) 36,965 (71,708) £	2020 - 38,617 148,556 26,709 4,008 217,890 217,890 189,867 46,912 236,779 (103,696) 133,083 84,807 30,449 115,256 2,703 63,090 58,434 124,227 (4,907) 119,320 (4,064) 30,569 (50,247) 40,047 - 20,369 (24,433) £
	14,494 11,685 49,678 14,431 37,746 103,696 89,616 193,312 (138,998) 4,907 59,767 53,293 117,967 (3,363) 22,396 (21,400) 37,052 (1,083)	- 38,617 148,556 26,709 4,008 189,867 46,912 236,779 (103,696) 2,703 63,090 58,434 124,227 (4,907) 30,569 (50,247) 40,047 -

Page 11

ALLERTON RESEARCH AND EDUCATIONAL TRUST FARM GROSS MARGINS

FOR THE YEAR ENDED 31 DECEMBER 2021

Opening Valuation ARABLE Output Wheat (34,350) Barley - Rape - Beans - Oats (17,213) (51,563) Variable Costs Seeds (4,050) Fertiliser (9,069) Sprays (13,211) Selling, haulage and sundries - Growing crops (25,803) (52,133) ARABLE GROSS MARGIN TOTAL (£103,696)	Sales/ (Purchases) 49,678 11,685 14,494 14,431 37,746 128,034 (22,413) (33,535) (31,170) (2,498) - (89,616) £38,418	Closing Valuation 49,500 12,000 - 3,240 4,050 68,790 453 19,855 10,801 39,099 70,208 £138,998	Income/ (Expenditure) 64,828 23,685 14,494 17,671 24,583 (26,010) (22,749) (33,580) (2,498) 13,296	2021 145,261 (71,541) 73,720 £73,720	2020 77,030 15,617 - 22,765 16,271
					131,683
					(21,932) (16,124) (16,273) (10,728) 18,181
					(46,876)
					84,807
					£84,807

Page 12

ALLERTON RESEARCH AND EDUCATIONAL TRUST DETAILS OF FARM EXPENDITURE FOR THE YEAR ENDED 31 DECEMBER 2021

LABOUR Salaries and wages (85% P Jarvis salary costs to LE1) Contract staff Pensions and life cover DIRECT COSTS Implement repairs Fuel & oil Vehicle tax & insurance Hire and contract farming Recycling expenses Light and Heat OVERHEAD COSTS Countryside stewardship expenditure Rent, rates & water Repairs Insurance Sundries Professional fees Telephone Bank charges Interest payable DEPRECIATION Buildings and land improvements Plant & machinery (Profit) on disposal RECHARGED TO OTHER COSTS CENTRES Recharged to other cost centres	2021 61,579 - - (1,812) £59,767 22,672 14,020 6,184 8,999 - 1,418 £53,293 - 4,074 4,175 3,969 2,565 3,962 787 118 2,746 £22,396 14,005 23,047 (1,083) £35,969 (£21,400)	2020 88,132 (45,894) 9,015 11,837 £63,090 14,794 11,321 3,279 23,325 1,396 4,319 £58,434 - 6,315 6,407 3,714 4,592 3,964 1,089 188 4,300 £30,569 14,897 25,150 - £40,047 (£50,247)