2021-12-31-accounts - The Brownsword Charitable Foundation

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		Page
Report ofthe Trustees	1	lo	3
Report ofthe Independent Auditors	4	io	5
Statement of Financial Activities
Balance Sheet
Cash Flow Statement
Notes to the Cash Flow Statement
Notes to the Financial Statements	10	io	17
Detailed Statement of Financial Activities		18

		for the Y	ear Ended 31 Decemb	er 2021
					2021	2020
			Unrestricted	Endowment	Total	Total
			fund	fund	funds	funds
						as restated
		Notes				5
INCOME AND ENDOWMENTS
FROM
Investment income			234,839		234,839	250,568
EXPENDITURE ON Raising funds			19,329	47,123	66,452	88,929
Charitable activities Charitable costs			283,000		283,000	414,580
Support costs			1,211		1,211	1,391
Total			303,540	47,123	350,663	504,900
Net gains/(losses) on investments				1,060,000	L060,000	~390,000)
NET INCOME/(EXPENDITURE)			(68,701)	1,012,877	944,176	(644,332)
Transfers between funds		16	61,125	~61,125)
Net movement in funds			(7,576)	951,752	944,176	(644,332)
RECONCILIATION OF FUNDS
Total funds brought As previously reported Prior year adjustment	forward	10	81,226	9,084,883 1,160,000	9,166,109 1,160,000	9,420,441 1,550,000
As restated			81,226	10,244,883	10,326,109	10,970,441
TOTAL FUNDS CARRIED FORWARD			73,650	11,196635	1 l,270,285	10,326, 'l09

		2021	2020
			as restated
	Notes		6
FIXED ASSETS
Tangible assets investment property	11 12	2,026,478 5470000	2,050,295 435000
		7,436,478	6,400,295
CURRENT ASSETS
Debtors	13	91,410	72,300
Cash at bank		3,798,965	3,908,871
		3,890,375	3,981,171
CREDITORS
Amounts falling due within one year	14	(56,568)	(55,357)
NET CURRENT ASSETS		3 833.807	3.925 814
TOTAL ASSETS LESSCURRENT LIABILITIES		11,270,285	10,326,109
NET ASSETS		11.270.285	10326109
FUNDS	16
Unrestricted funds		73,650	81,226
Endowment funds		11 196635	10244 883
TOTAL FUNDS		11 270 85	10.326,109

			Bro	wns	word Char	its le Fo	undation
					hFI	at t
			f r	h	YearEn	1 De	mber2021
							2021	2020
								as restated
				Notes
Cash flows from operating activities Cash generated fram operations							~62,783)	~203,360)
Net cash used in operating		activities					~62783)	203,360
Cash flows from financing activities Expenditure atldibutabls to endowment							~47 123)	~31708)
Net cash used in financing	activities						~47,123)	~31,708)
Change In cash and cash the reporting period		equivalents	in				(109,906)	(235,068)
Cash and cash equivalents beginning ofthe reporting		at the period					3,908.871	4,143,939
Cash and cash equivalents the reporting period		at the end	of				3,798,965	~3,908871

RECONCILIATION OF NET INCOME/(EXPEN ACTIVITIES	DITURE) TO NET	CASH FLOW	FROM OPERATI	NG
			2021	2020
			f	as restated f
Net income/(expenditure) for the reporting Statement ofFinancial Activities)	period (as per the		944,176	(644,332)
Adjustments for: Depreciation charges (Gain)/losses on investments Expenditure attributable to endowment (Increase)/decrease in debtors Increase/(decrease) in creditors			23,817 (1,060,000) 47,123 (19,110) 1 211	23,817 390,000 31,708 5,708 ~10,261)
Net cash used in operations			~62,783)	~203360)
ANALYSIS OF CHANGES IN NET FUNDS
		At 1.1.21	Cash flow	At 31.12.21
Net cash Cash at bank and in hand		3,908,871	~109,906)	3,798,965
		3,908,871	~109,906)	3,798,965
Total

INVESTMENTINCOME
			2021	2020
				as restated
			E
Rental income receivable Interest receivable			234,455 384	240,548 10,020
			234,839	250,568
RAISING FUNDS
Investment management		costs	2021	2020
				as restated
Bad debt expense Legal and professional Insurance Management fees Repairs and renewals Light and heat Depreciation	fees		5,838 6,990 6,000 23,307 500 23,617	14,000 8,230 4,845 6,000 31,708 329 ~23817
			66,452	86,929
GRANTS PAYABLE			2021	2020
				as restated
			E	E
Charitable costs			283,000	414,580

The total grants	pai	d to insti	tutions
					2021	2020
						as restated
						5
Merchant Venturers					2,000	2,000
Universiiy of Bath Arts The Forever Friends Appeal for			Edge Project the RUH		200,000	50,000 200,000
Royal Dart Sailing Trust						500
Bath Abbey Arts Taunton					25,000 45,000	100,000 36,080
Royal Horticultural		Society			5,000	1,000
University ofExeter						10,000
Cleveland Pools	Bath					10,000
Jessie May Trust						5.000
Dart Sailability					1,000
Bath Festivals Ltd					5,000
					~283 000	414,580
SUPPORT COSTS
						Governance
						costs
						f
Support costs						1 211
AUDITORS' REMUNERATION
					2021	2020
						as restated
						5
Fees payable to statements	the	charity's	auditors for the audit ofthe charity's	financial	1 211	1,368

COMPARATIVES FOR THE ST	ATEMENT OF FINAN	CIAL ACTIVITIES
		Unrestricted	Endowment	Total
		fund	fund	funds
				as restated
				f.
INCOME AND ENDOWMENTS	FROM
Investment income		250,568		250,568
EXPENDITURE ON
Raising funds		33,404	55,525	88,929
Charitable activities
Charitable costs		414,580		414,580
Support costs		1,391		1,391
Total		449,375	56625	504,900
Net gains/(losses) on investments			~390000)	~390000)
NET INCOME/(EXPENDITURE)		(198,807)	(445,525)	(644,332)
Transfers between funds		150,000	~150000)
Net movement in funds		(48,807)	(595,525)	(644,332)
RECONCILIATION OF FUNDS
Total funds brought forward As previously reported Prior year adjustment		130,033	9,290,408 1,550,000	9,420,441 1,550,000
As restated		130,033	10,840,408	10,970,441
TOTAL FUNDS CARRIED FORWARD		81,226	10,244,883	10.326,109

TANGIBLE FIXED ASSETS
	Land and
	buildings f
COST
At 1 January 2021 and 31 December 2021	2,240,829
DEPRECIATION
At 1 January 2021 Charge for year	190,534 23,817
At 31 December 2021	214 351
NET BOOK VALUE
At 31 December 2021	2,026,478
At 31 December 2020	2,050,295

FAIR VALUE
At 1 January 2021 Revaluation	4,350,000 1,060,000
At 31 December 2021	5,410,000
NET BOOK VALUE
At 31 December 2021	5410,000
At31December2020	4,350,000

DEBTO	RS:AMO	UNTS	F	ALL	ING	DUE WITHIN ONE YEAR
							2021	2020
							f	as restated f
Debtors							90,027	70,917
Prepayments and		accrued		income			~1383	1 383
							91 410	72,300
CREDITORS: AMOUNTS				FALLING DUE WITHIN ONE YEAR
							2021	2020
								as restated
							f	f
Creditors							1,500	1,500
Accruals	and deferred		income				55,068	53,857
							56568	55,357
Deferred	Income
Deferred	income	movement		in	the	year and the prior year are as follows:-
							2021	2020
							5	f
Balance Amount Amount	deferred released deferred	as at 1 January 2021 to incoming resources in year					52,567 (52,567) 52,567	62,828 (62,828) 52,567
Balance	deferred	as at	31	December 2021			52,567	52,567

ANALYSISOFNET ASSET	S BETWEEN FUNDS
			2021		2020
					as restated
	Unrestricted	Endowment	Total		Total
	fundf	fund f	funds		funds f.
Fixed assets Investments Current assets Current liabilities	130,218 ~56.5687	2,026,478 5,410,000 3,760,157	2,026,478 5,410,000 3,890,375 ~56,56	7	2,050,295 4,350,000 3981 171 ~55, 71
	3650	11196	1127 285		0,325. 09

MOVEMENT		IN FUNDS
					Prior	Net	Transfers
				At 1.1.21 f	year adjustment f	movement in funds f	between funds f	At 31.12.21 f
Unrestricted General fund		funds		81,226		(68,701)	61,125	73,650
Endowment Expendable	funds endowment			9,084,883	1,160,000	1,012,677	(61,125)	11,196,635
TOTAL FUNDS				9,166,109	1,160,000	944,176		11,270,285
Net movement		in funds,	included	in the above are as follows:
					Incoming	Resources	Gains and	Movement
					resources f.	expended f	losses f	in funds
Unrestricted General fund		funds			234,839	(303,540)		(68,701 )
Endowment Expendable	funds endowment					(47,123)	1,060,000	1,012,877
TOTALFUN		DS			234 839	~350 863)	1 060000	944,176

Comparative	s for moveme	nt in fu	nds
				Prior	Net	Transfers
		At 1.1.20		year adjustment f	movement in funds f	between funds f	At 31.12.20 f.
Unrestricted	funds
General fund			130,033		(198,807)	150,000	81,226
Endowment	funds
Expendable	endowment	9,290,408		1,550,000	(445,525)	(150,000)	10,244,883
TOTAL FUNDS		9,420,441		~1,550 000	~644,332)		10,326,109
Comparative	nel movement	in funds,	included	in the above are as follows:
				Incoming	Resources	Gains and	Movement
				resources f	expended f	losses	in funds f.
Unrestricted	funds
General fund				250,568	(449,375)		(198,807)
Endowment	funds
Expendable	endowment				(55,525)	(390,000)	(445,525)
TOTAL FUNDS				250,568	~504,900)	~390,000)	~644,332)

A current ye	ar 12months	and prior year 12 mon	ths	combined	position is as fol	lows:
				Prior	Net	Transfers
				year	movement	between	At
		At 1.1.20 f		adjustment f	in funds f	funds f	31.12.21 f
Unrestricted	funds
General fund		130,033			(267,508)	211,125	73,650
Endowment	funds
Expendable	endowment	9,290,408	2,710,000		567,352	(211,125)	12,356,635
TOTAL FUNDS		9,420,441	2,710,000		299,844		~12,430285
A current year 12 months		and prior year 12 months		combined	net movement	in funds, included	in the above a
as follows:
				Incoming	Resources	Gains and	Movement
				resources f	expended f.	losses	in funds f
Unrestricted	funds
General fund				485,407	(752,915)		(267,508)
Endowment	funds
Expendable	endowment				(102,648)	670,000	567,352
TOTAL FUNDS				485,407	~855,563)	670,000	299,844

		for the Year Ended 31	December 2021
			2021	2020
				as restated
			6
INCOME AND ENDOWMENTS
Investment income
Rental income receivable			234,455	240,548
Interest receivable			384	10,020
			~234839	250,568
Total incoming resources			234,839	250,568
EXPENDITURE
Investment management		costs
Bad debt expense Legal and professional Insurance	fees		5,838 6,990	14,000 8,230 4,845
Management fees			6,000	6,000
Repairs and renewals Light and heat Depreciation offreehold		property	23,307 500 23,817	31,708 329 23817
			66,452	88,929
Charitable activities
Grants to institutions			283,000	414,580
Support costs
Finance
Bank charges				23
Governance costs
Auditors' remuneration			1,211	1,368
Total resources expended			350,663	504,900
Net expenditure			(115.824)	~254,332)