2020-12-31-accounts - The Brownsword Charitable Foundation

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		Page
Report ofthe Trustees	1	lo	3
Report ofthe Independent Auditors	4	lo	5
Statement of Financial Activities
Balance Sheet
Cash Flow Statement
Notes to the Cash Flow Statement
Notes to the Financial Statements	10	Io	16
Detailed Statement of Financial Activities		17

						2020	2019
				Unrestricted	Endowment	Total	Total
				fund	fund	funds	funds
			Notes	8	5	f	f
INCOME AND ENDOWMENTS
FROM
Investment Income			2	250,568		250,568	293,933
EXPENDITURE ON
Ralslng funds			3	33,404	55,525	88,929	42,687
Charitable actlvltles
Charitable costs				414,580		414,580	443,780
Support costs				1,391		1,391	1,362
Total				449,375	55,525	504,900	487,829
NET INCOMEI(EXPENDITURE)				(198,807)	(55,525)	(254,332)	(193,896)
Transfers between		funds	15	~150000	~150000)
Net movement In funds				(48,807)	(205,525)	(254,332)	(193,896)
RECONCILIATION	OF FUNDS
Total funds brought		forward		130,033	9,290,408	9,420,441	9,614,337
TOTAL FUNDS CARRIED FORWARD				~81 226	~9,084 883	~9166109	~9420,441

	~61
	31 December 2020
		2020	2019
	Notes	6	F
FIXEDASSETS
Tangible assets	10	2,050,295	2,074,112
Investment property	11	3 190000	3 190000
		5,240,295	5,264,112
CURRENT ASSETS
Debtors	12	72,300	78,008
Cash at bank		3908811	4143939
		3,981,171	4,221,947
CREDITORS
Amounts falling due within one year	13	(55,357)	(65,618)
NET CURRENT ASSETS		3,925,814	4,156,329
TOTAL ASSETSLESSCURRENT LIABILITIES		9,166,109	9,420,441
NET ASSETS		9166109	9420,441
FUNDS	15
Unrestricted funds		81,226	130,033
Endowment funds		9084883	92911408
TOTAL FUNDS		9,166,109	9,420,441

		Bro	wnsword Charitable Foundation	wnsword Charitable Foundation
			Cash Flow Statement
		for	the Year Ended 3	December 2020
			Notes	2020f	2019 6
Cash flows from operating activities Cash generated from operations				~203360)	~135409)
Net cash used In operating	activities			~203 360)	~135,409)
Cash flows from financing activities Fxpendlture attributable to endowment				~31708)
Net cash (used In)/provided	by financing	activities		~31708)
Change In cash and cash	equivalents	in
the reporting period				(235,068)	(135,409)
Cash and cash equivalents	at the
beginning ofthe reporting	period			4,143,939	~4279,348
Cash and cash equivalents	at the end	of
the reporting period				~3908871	4 143939

RECONCILIATION ACTMTIES	OF	NET EXPE	NDITURE TO NET CASH FLOW FROM	OPERATING
				2020	2019 f
Net expenditure for	the reporting		period (as per the Statement of
Financial Activities)				(254,332)	(193,896)
AdJustments for:
Depreciation charges				23,817	23,817
Expenditure attributable		to endowment		31,708
Decrease In debtors				5,708	11,324
(Decrease)/Increase	in creditors			~10,261)	23,346
Net cash used In operations				~203 360)	~135409)

ANALYSIS OF CHANGES IN NET FUNDS
	At 1.1.20	Cash flow f	At 31.12.20 f
Net cash
Cash at bank and in hand	~4143939	~235068)	~3908,871
	~4143939	~235,068)	~3908871
Total	4,143,939	~233 9381	3 938811

					2020	2019
						6
Rental Income receivable					240,548	268,666
Interest receivable					10,020	25,267
					~250 568	~293933
RAISING FUNDS
Investment management		costs
					2020	2019 f
Bad debt expense					14,000
Legal and professional fees					8,230	2,400
Insurance					4,845	4,470
Management fees					6,000	12,000
Repairs and renewals					31,708
Light and heat					329
Depreciation					23,817	~23817
					~88 929	~42 687
GRANTS PAYABLE
					2020f	2019 6
Charitable costs					~414580	~443 780
The total grants paid to institutions			during	the year was as follows:
					2020f	2019 f
Merchant Venturers					2,000	2,000
Chagford PCC - Bells Appeal						1,000
University ofBath Arts The		Edge	Project		50,000
Forever Friends Appeal for		the RUH			200,000	200,000
Royal Dart Sailing	Trust				500	500
Bath Abbey					100,000	200,000
Arts Taunton					36,080	17,500
Royal Horticultural	Society				1,000	4,280
StJohn Ambulance						10,000
The Gunmakers						2,000
Stoke Gabriel Scout Group						3,000
Brainwave						1,000
Teenage Cancer Trust						2,000
Whizz Kidz						500
University ofExeter					10,000
Cleveland Pools Bath Jessle May Trust					10,000 ~5000
					~414580	~443 780

SUPPORT COSTS
				Governance
			Finance	costs	Totals
			8	6	6
Support costs			23	~1368	~1391
AUDITORS' REMUNERATION
				2020f	2019 f
Fees payable to the charity's	auditors	for the audit ofthe charity's	financial
statements				1,368	~1362

STAFF COSTS The charity had no employees In 2021 (2020- Nil)	STAFF COSTS The charity had no employees In 2021 (2020- Nil)	STAFF COSTS The charity had no employees In 2021 (2020- Nil)	STAFF COSTS The charity had no employees In 2021 (2020- Nil)	STAFF COSTS The charity had no employees In 2021 (2020- Nil)
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
			Unrestricted	Endowment	Total
			fund	fund	funds
			2	2	2
INCOME AND ENDOWMENTS		FROM
Investment income			293,933		293,933
EXPENDITURE ON
Raising funds			42,687		42,687
Charitable activities
Charitable costs			443,780		443,780
Support costs			1,362		1,362
Total			487,829		487,829
NET INCOMEI(EXPENDITURE)			(193,896)		(193,896)
RECONCILIATION OF FUNDS
Total funds brought	forward		323,929	9,290,408	9,614,337
TOTAL FUNDS CARRIED FORWARD			~130033	~9290408	9420 441

10.	TANGIBLE FIXEDAS	SET	S
								Land and
								buildings
	COST
	At 1 January 2020 and	31	December2020					~2240 829
	DEPRECIATION
	At 1 January 2020							166,717
	Charge for year							23,817
	At 31 December 2020							~190534
	NET BOOK VALUE
	At 31 December 2020							~2050,295
	At 31 December 2019							2,074,112
11.	INVESTMENT PROPERTY
	FAIR VALUE
	At 1 January 2020
	and 31 December 2020							~3190000
	NET BOOK VALUE
	At 31 December 2020							~3,190000
	At 31 December 2019							~3190000
	The Investment properties		were valued		by Derek Walker, Chartered	Surveyor.
12.	DEBTORS:AMOUNTS	FALLING DUE			WITHIN ONE YEAR
							2020	2019
								8
	Debtors						70,917	76,625
	Prepayments and accrued		income				~1383	1 383
							72,300	~78 008
13.	CREDITORS: AMOUNTS		FALLING DUE WITHIN ONE YEAR
							2020	2019
							8
	Creditors						1,500	1,500
	Accruala and deferred	Income					53,857	64,118
							55,357	~65 618
	Deferred Income
	Deferred income movement		in	the year	and the prior year are as follows:-
							2020	2019
								8
	Balance deferred aa at	1 January 2019					64,118	40,772
	Amount released to Incoming			resources			(10,262)
	Amount deferred In year							23 346
	Balance deferred as at	31	December 2020				53 851	64 118

ANALY	ETS BETWEEN FUN	DS
			2020	2019
	Unrestricted	Endowment	Total	Total
	fund	fundf	funds f.	funds f
Fixed assets		2,050,295	2,050,295	2,074,112
Investments Current assets Current liabilities	136,583 55357	3,190,000 3,844,588	3,190,000 3,981,171 55357	3,190,000 4,221,947 ~66616
	81 226	9084883	9166109	9420 441

MOVEMENT		IN FUNDS
					Net	Transfers
					movement	between	At
			At 1.1.20 f		In funds f.	funds	31.12.20 f
Unrestricted		funds
General fund			130,033		(198,807)	150,000	81,226
Endowmentfunds
Expendable	endowment		9,290,408		(55,525)	(150,000)	9,084,883
TOTAL FUNDS			~9,420 441		~254,332)		~9166109
Net movement		in funds, induded	in the above are as	follows:
					Incoming	Resources	Movement
					resources f	expended f.	in funds
Unrestricted		funds
General fund					250,568	(449,375)	(198,807)
Endowment		funds
Expendable	endowment					(55,525)	(55,525)
TOTAL FUNDS					250 568	~504 900)	~254,332)

									Net
									movement	At
								At 1.1.19 f	In funds f	31.12.19 f
Unrestricted		funds
General	fund							323,929	(193,896)	130,033
Endowmentfunds
Expendable		endowment						9,290,408		9,290,408
TOTAL	FUNDS							9614331	~2939961	94211441
Comparative		net movement		in funds,	included	ln the above are		as follows;
								Incoming	Resources	Movement
								Iesources f	expended f	in funds f
Unrestricted		funds
General	fund							293,933	(487,829)	(193,896)
TOTAL	FUNDS							293,933	~487 829)	~193896)
A current	year 12 months		and prior year 12months				combined	position Is as follows:
								Net	Transfers
								movement	between	At
							At 1.1.19	In funds	funds	31.12.20
								f	f	f
Unrestricted		funds
General	fund						323,929	(392,703)	150,000	81,226
Endowment		funds
Expendable		endowment					9,290,408	(55,525)	(150,000)	9,084,883
TOTAL	FUNDS					~9614337		~448,228)		~9166 109

A current ye as follows:	ar 12 months and prior year 12 m	onths combined net movement in	funds, included i	n the above a
		Incoming	Resources	Movement
		resources f	expended	In funds f
Unrestricted	funds
General fund			(937,204)	(392,703)
Endowmentfunds
Expendable	endowment		(55,525)	(55,525)
TOTAL FUNDS		~544 501	~992 729)	~448 228)

		for the Year Ended 31	December 2020
			2020	2019
			E	6
INCOME AND ENDOWMENTS
Investment Income
Rental Income receivable			240,548	268,666
Interest receivable			10,020	25,267
			~250 568	~293933
Total Incoming resources			250,568	293,933
EXPENDITURE
Investment management		costs
Bad debt expense			14,000
Legal and professional	fees		8,230	2,400
Insurance			4,845	4,470
Management fees			6,000	12,000
Repairs and renewals			31,708
Light and heat			329
Deprecia6on offreehold		property	23,817	23,817
			88,929	42,687
Charitable activities
Grants to Institutions			414,580	443,780
Support costs
Finance
Bank charges			23
Governance costs
Auditors' remuneration			1,368	~1362
Total resources expended			~504900	~487 829
Net expenditure			~254 332)	~193896)