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|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|lo|3|
|Report ofthe Independent<br>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||





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|||||||2020|2019|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Endowment|Total|Total|
|||||fund|fund|funds|funds|
||||Notes|8|5|f|f|
|INCOME AND ENDOWMENTS||||||||
|FROM||||||||
|Investment<br>Income|||2|250,568||250,568|293,933|
|EXPENDITURE ON||||||||
|Ralslng funds|||3|33,404|55,525|88,929|42,687|
|Charitable<br>actlvltles||||||||
|Charitable<br>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<br>between||funds|15|~150000|~150000)|||
|Net movement<br>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<br>FORWARD||||~81 226|~9,084 883|~9166109|~9420,441|





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||~61|86|||
|---|---|---|---|---|
||31 December 2020||||
||||2020|2019|
||Notes||6|F|
|FIXEDASSETS|||||
|Tangible assets|10||2,050,295|2,074,112|
|Investment<br>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<br>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<br>funds|||81,226|130,033|
|Endowment<br>funds|||9084883|92911408|
|TOTAL FUNDS|||9,166,109|9,420,441|





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





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



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|ANALYSIS OF CHANGES<br>IN NET FUNDS||||
|---|---|---|---|
||At 1.1.20|Cash flow<br>f|At 31.12.20<br>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|





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||||||2020|2019|
|---|---|---|---|---|---|---|
|||||||6|
|Rental Income receivable|||||240,548|268,666|
|Interest receivable|||||10,020|25,267|
||||||~250 568|~293933|
|RAISING FUNDS|||||||
|Investment<br>management||costs|||||
||||||2020|2019<br>f|
|Bad debt expense|||||14,000||
|Legal and professional<br>fees|||||8,230|2,400|
|Insurance|||||4,845|4,470|
|Management<br>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<br>6|
|Charitable<br>costs|||||~414580|~443 780|
|The total grants<br>paid to institutions|||during|the year was as follows:|||
||||||2020f|2019<br>f|
|Merchant<br>Venturers|||||2,000|2,000|
|Chagford<br>PCC - Bells Appeal||||||1,000|
|University<br>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<br>ofExeter|||||10,000||
|Cleveland<br>Pools Bath<br>Jessle May Trust|||||10,000<br>~5000||
||||||~414580|~443 780|





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



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|STAFF COSTS<br>The charity had no employees<br>In 2021 (2020- Nil)|STAFF COSTS<br>The charity had no employees<br>In 2021 (2020- Nil)|STAFF COSTS<br>The charity had no employees<br>In 2021 (2020- Nil)|STAFF COSTS<br>The charity had no employees<br>In 2021 (2020- Nil)|STAFF COSTS<br>The charity had no employees<br>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<br>income|||293,933||293,933|
|EXPENDITURE ON||||||
|Raising funds|||42,687||42,687|
|Charitable<br>activities||||||
|Charitable<br>costs|||443,780||443,780|
|Support costs|||1,362||1,362|
|Total|||487,829||487,829|
|NET INCOMEI(EXPENDITURE)|||(193,896)||(193,896)|
|RECONCILIATION<br>OF FUNDS||||||
|Total funds brought|forward||323,929|9,290,408|9,614,337|
|TOTAL FUNDS CARRIED FORWARD|||~130033|~9290408|9420 441|





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|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<br>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<br>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<br>and deferred|Income|||||53,857|64,118|
||||||||55,357|~65 618|
||Deferred Income||||||||
||Deferred<br>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<br>released<br>to Incoming|||resources|||(10,262)||
||Amount<br>deferred<br>In year|||||||23 346|
||Balance deferred as at|31|December 2020||||53 851|64 118|





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



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|MOVEMENT||IN FUNDS||||||
|---|---|---|---|---|---|---|---|
||||||Net|Transfers||
||||||movement|between|At|
||||At 1.1.20<br>f||In funds<br>f.|funds|31.12.20<br>f|
|Unrestricted||funds||||||
|General<br>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<br>f|expended<br>f.|in funds|
|Unrestricted||funds||||||
|General<br>fund|||||250,568|(449,375)|(198,807)|
|Endowment||funds||||||
|Expendable|endowment|||||(55,525)|(55,525)|
|TOTAL FUNDS|||||250 568|~504 900)|~254,332)|





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||||||||||Net||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||movement|At|
|||||||||At 1.1.19<br>f|In funds<br>f|31.12.19<br>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<br>f|expended<br>f|in funds<br>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<br>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<br>as follows:|ar 12 months<br>and prior year 12 m|onths<br>combined<br>net movement<br>in|funds,<br>included<br>i|n the above a|
|---|---|---|---|---|
|||Incoming|Resources|Movement|
|||resources<br>f|expended|In funds<br>f|
|Unrestricted|funds||||
|General<br>fund|||(937,204)|(392,703)|
|Endowmentfunds|||||
|Expendable|endowment||(55,525)|(55,525)|
|TOTAL FUNDS||~544 501|~992 729)|~448 228)|





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|||for the Year Ended 31|December 2020||
|---|---|---|---|---|
||||2020|2019|
||||E|6|
|INCOME AND ENDOWMENTS|||||
|Investment<br>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<br>management||costs|||
|Bad debt expense|||14,000||
|Legal and professional|fees||8,230|2,400|
|Insurance|||4,845|4,470|
|Management<br>fees|||6,000|12,000|
|Repairs and renewals|||31,708||
|Light and heat|||329||
|Deprecia6on<br>offreehold||property|23,817|23,817|
||||88,929|42,687|
|Charitable<br>activities|||||
|Grants to Institutions|||414,580|443,780|
|Support costs|||||
|Finance|||||
|Bank charges|||23||
|Governance<br>costs|||||
|Auditors'<br>remuneration|||1,368|~1362|
|Total resources expended|||~504900|~487 829|
|Net expenditure|||~254 332)|~193896)|