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2021-10-31-accounts

Page
Reference and Administrative Details ofthe Charity, Its Trustees and Advisers 1-2
3-13
Trustees' Report
14-17
Independent Auditors' Report
Consolidated Statement of Financial activities 18
Consolidated Balance Sheet 19
Charity Balance Sheet 20
Consolidated Statement of Cash Flows 21
Notes to the Financial Statements 22 - 53

REFERENCE AND REFERENCE AND ADMINISTRATIVE DETAILS OF DETAILS OF DETAILS OF THE TRUST, ITSTRUSTEES AND ADVISERS THE TRUST, ITSTRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 OCTOBER 2021
Directors E M Wood, Chairman
J Brown (appointed November 2020)
R Bailey
Lord Cobham
PJA Cooper
EA Davies
SGardner
C GriNths
(appointed
November 2020)
A Harrles (appointed November 2020)
Princess Hohenlohe
M Johnston
TP Routsis
C ESWhitbread
R Graff von Waldburg-Wolfegg
Charity registered
number 307534
Principal office Old Warden
Park
Biggleswade
Bedfordshire
SG189EP
Secretary A P Rutt
Independent auditors Peters Elworthy 8 Moore
Chartered
Accountants
Salisbury
House
Station Road
Cambridge
CB1 2LA
Bankers Barciays Bank PLC
High Street
Bedford
MK40 1NJ
Solicitors Charles Russell Speechlys LLP
5Fleet Place
London
EC4M 7RD
Investment portfolio Sarasin &Partners LLP
manager Juxon House
100St Paul's Churchyard
London
EC4M 8BU

Note Unrestricted
funds
2021
6000
Restricted
funds
2021
6000
Endowment
funds
2021
6000
Total
funds
2021
6000
Total
funds
2020
f000
INCOME AND
ENDOWMENTS FROM:
Donations
and legacies
2
16 317 332
Charitable
activities
3 671 671 269
Other trading
activities
31 1,282 1,282 745
Investments 158 1,380 2,403 2,105
Other income
TOTAL INCOME AND
ENDOWMENTS
36
701
~88~139~38~3 ~41 3
EXPENDITURE ON:
Raising funds
Charitable
activities
6,7
TETRA EEPERDITERE
1,376
2,099
765
415
1,985
2,864
2,027
2,724
~7~~~~47
I
NET (EXPENDITURE)l
INCOME
(605) 180 965 540 (598)
Net gains on 2,279 278 3,636 6,194 2,021
investments
NET INCOME 1,674 4,601 6,733 1,423
Transfers between 19 1,479 (1,479)
funds
NET MOVEMENT
IN
FUNDS
RECONCILIATION
OF FUNDS
Total funds brought
forward
40,789 2,709 43,806 87,304 85881
Net movement
in funds
TOTALFUNDS
CARRIED FORWARD
3,153
3,122
~eE~~EQI,
6,733
'w3EL
1,423
~EEE

2021 2020
Note 6000 f000
FIXEDASSETS
Tangible assets 11 5,201 4,844
Heritage assets 13 19,527 19,527
Investments 14 6,162 5,442
Investment property 12 61,875 56,440
92,765 86,253
CURRENT ASSETS
Stocks 15 54 59
Debtors 16 1,150 823
Cash at bank and in hand 22 2,704 1,404
3,908 2,286
Creditors: amounts falling due within one
year 17 (1,436) (1,235)
NET CURRENT ASSETS 2,472 1,051
Creditors: amounts falling due after more
than one year 18 (1,200)
TOTAL NET ASSETS
CHARITY FUNDS
Endowment funds 19 46,928 43,806
Restricted funds 19 3,167 2,709
Unrestricted funds 19 43,942 40,789

2021 2020
Nots f000 f000
FIXEDASSETS
Tangible assets 11
Heritage assets 13
Investments 14
Investment
property
12
CURRENT ASSETS
Stocks 15
Debtors 16
Cash at bank and in hand
Creditors: amounts falling due within one
year 17
NET CURRENT ASSETS
Creditors: amounts falling due after more
than one year 18
NET ASSETS EXCLUDING PENSION
ASSET
TOTAL NET ASSETS
CHARITY FUNDS
Endowment
funds
19
Restricted funds 19
Unrestricted
funds
19

2021 2020
Note 6000 8000
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash used
in operating
activities
21 (1,869) (2,532)
CASH FLOWS FROM INVESTING ACTIVITIES
Dividends,
interests
and rents from investments
2,403 2,105
Purchase oftangible
fixed assets
(428) (131)
Net movement
of investments
(6) 1,113
NET CASH PROVIDED BYINVESTING ACTIVITIES 1,969 3,087
CASH FLOWS FROM FINANCING
ACTIVITIES
Cash inflows from new borrowing 1,200
NET CASH PROVIDED BYFINANCING
ACTIVITIES
1,200
CHANGE
IN CASH AND CASH EQUIVALENTS
IN THE YEAR 1,300 555
Cash and cash equivalents
at the beginning
ofthe year
1,404
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 22
The notes on pages 22 to 50form part ofthese financial statements

INCOME F ROM DONATIONS
AND
LEGACIES
Unrestricted Restricted Total Total
funds funds funds funds
2021
f000
2021
fMO
2021
f000
2020
f000
20
Gift aid admissions
Donations and legacies 87 103 245
Restricted SVAS donation 230 230 169
Unrestricted Total Total
funds funds funds
2021 2021 2020
fMO f000 f000
Aviation
and automotive
transport
Total income received in 2020 from charitable activities was unrestricted.
Unrestricted
funds
2021
f000
Restricted
funds
2021
f000
Endowment
funds
2021
f000
Total
funds
2021
f000
Total
funds
2020
f000
Rental income 767 93 1,380 2,240 1,991
Dividend income 98
65
163
115
~~~IK~ks~

Unrestricted Restricted Total Total
funds funds funds funds
2021
6000
2021
6000
2021
6000
2020
8000
36 452
Government grants
Other grants

Unrestricted
funds
2021
6000
Restricted
funds
2021
6000
Endowment
funds
2021
6000
Total
funds
2021
6000
Total
funds
2020
8000
Staff costs 532 47 579 692
investment
activities
246 393 693 710
Trading activities (exd
costs)
staff 401 375
Support and governance costs 92
275
212
~~~~rSL~sl!L

Unrestricted
funds
2021
5000
Restricted
funds
2021
8000
Endowment
funds
2021
5000
Total
funds
2021
5000
Total
funds
2020
f000
t g tt

Activities
undertaken
directly
2021
Support
costs
2021
Total
funds
2021
Total
funds
2020
6000 8000 5000 6000
Aviation and automotive transport 2,095 376 2,471 2,376
Agriculture and land based industry 218 37 255 241
138 107
Governance

Aviation
and
automotive
2021
8000
A9flculture
and hand
base
2021
6000
Governance
2021
6000
Total
funds
2021
8000
Total
funds
2020
8000
Staff costs 19 72 241 316
182
Premises costs
Office costs 115 16 139
Non-recoverable VAT
Professional fees 57 57 25
Trustee costs

The auditors'
remuneration
amounts
services of812,000 (2020 -f14,000),
to an auditor
fee of 825,
000 (2020 - f 24,000), and non-audit
STAFF COSTS Group
2021
8000
Group
2020
8000
Trust
2021
8000
Trust
2020
f000
Wages and salaries 1,937 2,264 1,560 1,849
Social security costs 126 126
Other pensions costs 67 67

Group Group
2021 2020
No. No.
45 65
Group Group
2021 2020
No. No.

Freehold Plant and
property
5000
machinery
6000
Total
6000
COST OR VALUATION
At 1 November 2020 4,660 1,221 5,881
423 6 429
Additions
Disposals (58) (58)
At 31 October 2021 5,083 1,168 6,252
DEPRECIATION
At 1 November 2020 1,037 1,037
71 71
Charge for the year
On disposals (58) (58)
At 31 October 2021 1,050 1,050
NET BOOK VALUE
At 31 October 2021
At 31 October 2020

12. INVESTMENT PROPERTY INVESTMENT PROPERTY
GROUP
Freehold
investmsnt
property
6000
VALUATION
At 1 November 2020 56,440
5,435
Surplus on revaluation
At 31 October 2021
TRUST
Freehold
investment
property
6000
VALUATION
At 1 November 2020 56,440
5,435
Surplus on revaluation
At 31 October 2021

Exhibits at Paintings
the and
Colhrctton artefacts Total
2021 2021 2021
5000 5000 5000
17,027 2,500 19,527

2021
ROM
2020
6000
2019
6000
2018
8000
2017
8000
2021
f000
2020
f000
2019
6000
2018
8000
2017
6000
PURCHASES
Paintings and artefacts
Exhibits at the Collection 226 95
TOTAL ADDITIONS
226 95
DISPOSALS
Paintings and artefacts
Exhibits at the Collection (80) (5)
TOTAL DISPOSALS
(80) (5)

Cash held
Listed as
Investments investments Total
GROUP 5000 5000 EMO
COST OR VALUATION
At 1 November 2020 5,433 9 5,442
15 15
Additions
Revaluations 715 715
Cash movemsnt (9) (9)
AT 31 OCTOBER 2021
Investments
in Other fixed
TRUST subsidiary
companies
5000
Listed
investments
5000
asset
Investments
5000
Total
ROM
COST OR VALUATION
At 1 November 2020 150 5,433 9 5,592
15 15
Additions
Revaluations 715 715
Cash movement (9)
AT 31 OCTOBER 2021

Group
2021
fOM
Group
2020
f000
Trust
2021
f000
Tn&st
2020
f000
Retail Ifuel stock
DEBTORS
Group
2021
EOM
Group
2020
f000
Tn&st
2021
f000
Trust
2020
f000
Trade debtors 172 73 87
Amounts
owed
by group undertakings 124 157
Other debtors 903 713 902 707
Prepayments and accrued income 75 37 71 36

Group
2021
f000
Group
2020
f000
Trust
2021
f000
Trust
2020
f000
Trade creditors 274 82 241 55
Other taxation and social security 101 90 55
663 737
Other creditors
Accruals and deferred income 396 335 182

Group
2021
Group
2020
Trust
2021
Trust
2020
6000 8000 6000 8000
DEFERRED INCOME
Deferred income at 1 November 2020 210 138 6
Resources deferred during the year 214 210
Amounts released from previous periods (210) (138) (6) (8)
0 1 dt t210 t 0 2021

Group
2021
f000
Group
2020
f000
Trust
2021
f000
Tlust
2020
f000
Bank loans Bank loans
Induded within the above are amounts falling due as follows:
Group
2021
f000
Group
2020
f000
Trust
2021
f000
TI1lst
2020
f000
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ANALYSIS OF NET ASSETS BETWEEN FUNDS -CURRENT YEAR
Unrestricted
funds
2021
6000
Restricted
funds
2021
6000
Endowment
funds
2021
f000
Total
funds
2021
6000
Tangible fixed assets 2,271 2,930 5,201
Fixed asset investments 2,995 3,167 6,162
Investment
properly
22,377 39,498 61,875
Heritage assets 15,027 4,500 19,527
Current assets 3,908 3,908
Creditors due within one year (1,436) (1,436)
Creditors due in more than one year (1,200) (1,200)
TOTAL

ANALYSIS OF NET ASSETSBETWE EN FUNDS -PRIOR YE AR
Unrestricted Restricted Endowment Total
funds funds funds funds
2020
6000
2020
8000
2020
f000
2020
f000
Tangible Sxed assets 1,914 2,930 4,844
Fixed asset investments 2,733 2,709 5,442
Investment
property
20,064 36,376 56,440
Heritage assets 15,027 4,500 19,527
Current assets 2,286 2,286
Creditors due within one year (1,235) (1,235)

Unrestricted
funds comprise General funds
General funds are made up offixed asset
of83,785k
investments,
and Designated
current assets
funds ofF37,004k.
and current
liabilities
funds ofF37,004k.
and current
liabilities
only.
21. RECONCILIATION
OF NET MOVEMENT
IN FUNDS TO NET CASH FLOW FROM OPERATING
ACTIVITIES Group Group
2021 2020
6000 8000
Net income for the year (as per Statement ofFinancial Activities) 6,733 1,423
ADJUSTMENTS FOR:
Depreciation
charges
71 105
Gains on investments (6,149) (1,983)
Dividends,
interests
and rents from investments
(2,403) (2,105)
Loss on the sale offixed assets
13
Decrease
in stocks
Decrease/(increase)
in debtors
(327) 349
Increase/(decrease)
in creditors
201 (337)
NET CASH USED IN OPERATING ACTIVITIES

Group Group
2021 2020
6000 6000
2,704 1,404

At 1 At 31
November October
2020 Cash flows 2021
6000 6000
6000
Cash at bank and in hand 1404 1300 2,704
Debt due after 1 year (1,200) (1,200)
MEMORANDUM
OF
UNAPPLIED TOTAL RETURN
2021 2020
6000 6000
Unapplied total return bought forward 12,885 12,944
Increase in value during the year 4,601 2,006
Transfer to permanent endowment (612) (594)
Application of unapplied total return (1,479) (1,473)