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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||
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|||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|||||
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|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|
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|The total grants|pai|d to insti|tutions|during the year was as follows:||||
|---|---|---|---|---|---|---|---|
|||||||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|
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|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|
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|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|
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|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|
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|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|
##
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|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|
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|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|
##
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##
|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)|