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2021-06-30-accounts

UNAUDITED REPORT AND ACCOUNTS

30 JUNE 2021

(A Company limited by guarantee registered in England & Wales)

Company registration number: 02572039

Charity registration number: 1013308

THE GRIFFIN COMMUNITY TRUST

Contents

Page
Trustees Annual Report 1-6
Chairman’s Report 7
Independent Examiner’s Report 8
Accounts comprising:
Statement of Financial Activities 9
Balance sheet 10-11
Notes to the accounts 12-17

The following page does not form part of the statutory accounts:

Detailed income and expenditure account 18

The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308

Page 1

TRUSTEES ANNUAL REPORT (incorporating the Directors’ Report) FOR THE YEAR ENDED 30 JUNE 2021

REFERENCE AND ADMINISTRATIVE DETAILS

The Chair presents the report of the trustees, which is also the directors’ report as required by company law, with the accounts of the company for the year ended 30 June 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102 (1A)) in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice (second edition) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019 (Second Edition) and effective from 1 January 2019.

CHARITY NAME

THE GRIFFIN COMMUNITY TRUST

REGISTERED NUMBER
02572039 (England and Wales)
02572039 (England and Wales)
CHARITY NUMBER 1013308
REGISTERED OFFICE
Woodbury 2 Hill Houses
Tehidy Park
Camborne
Cornwall, England
TR14 0TH
CHARITY’S TRUSTEES’
Dr O Akinkugbe Vice Chair Dr Y C Chan
Professor B T Colvin Secretary Dr C Dow
Dr J Heraghty Dr K A Price Vice Chair
Dr D J Regan Miss J A Walker
Dr V L C White Chair
COMMITTEE MEMBERS
Ms A Alaroush (Appointed 3 Nov 2020) Prof C Bailey
Mr R Bennett Ms H Byrne
Ms A Chau (Appointed 3 Nov 2020) Ms R Fitzgerald
Dr K Gohel-Andrews Dr A Gordon-Reid
Ms R Grannan Dr A Gunawan
Mr J Henderson Dr T Hill
Ms A Housego (Appointed 3 Nov 2020) Ms S Joshi (Appointed 3 Nov 2020)
Mr M Justinsuthakaran (Appointed 3 Nov 2020) Ms E Kamineni (Appointed 5 Nov 2020)
Ms A Laguna (Appointed 3 Nov 2020) Ms H Mohammad (Appointed 3 Nov 2020)
Ms I Morrison Mr S O’Brien (Appointed 3 Nov 2020)
Mr T Oyebanji Ms R Pillay (Appointed 3 Nov 2020)
Mr M Robathan (Appointed 3 Nov 2020) Mr S Shah (Appointed 3 Nov 2020)
Prof S Thornton the Dowager Lady Westbury
The committee members in office at the beginning of the year, now resigned, were as follows:
Mr A Ali (Resigned 3 Nov 2020) Ms N Ali (Resigned 3 Nov 2020)
Ms M Annett (Resigned 3 Nov 2020) Dr T Hall (Resigned 3 Nov 2020)
Mr B Martin (Deceased 15 Jul 2020) Dr N Mashaikhirad (Resigned 3 Nov 2020)
Ms B Pease (Resigned 3 Nov 2020) Ms A Schofield (Resigned 3 Nov 2020)
Mr G Sharpstone (Resigned 3 Nov 2020) Dr J Tudor (Resigned 3 Nov 2020)

The Trustees constitute directors of the company for the purposes of the Companies Act 2006. No Trustee or committee member had a beneficial interest in any contract with the company during the period.

The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308

Page 2

TRUSTEES ANNUAL REPORT (incorporating the Directors’ Report) FOR THE YEAR ENDED 30 JUNE 2021

REFERENCE AND ADMINISTRATIVE DETAILS (continued)

PRESIDENT Vacant
CHAIRMAN Dr V. L. C. White
SECRETARY Professor B T Colvin
REGISTERED OFFICE Woodbury 2 Hill Houses
Tehidy Park
Camborne
Cornwall
TR14 0TH
TRUST ADMINISTRATOR Anthony Pettit
Woodbury 2 Hill Houses
Tehidy Park
Camborne
Cornwall
TR14 0TH
ACCOMMODATION MANAGER Heather Hill
53 Cheyne Walk
Grange Park
London N21 1DB
BANKERS Barclays Bank Plc
240 Whitechapel Road
London E1 1BS
SOLICITORS BDB Pitmans LLP
One Bartholomew Close,
London
EC1A 7BL
INDEPENDENT EXAMINERS Barrow LLP
Jackson House
Station Road
Chingford
London
E4 7BU

STRUCTURE, GOVERNANCE AND MANAGEMENT

The company is registered for charitable purposes with the Charity Commissioners and is governed by a Memorandum and articles of Association. It is a medical student inspired organisation.

It is limited by guarantee and does not have any share capital. The liability of members in the event of winding up is limited to £1 per member.

The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308

Page 3

TRUSTEES ANNUAL REPORT (incorporating the Directors’ Report) FOR THE YEAR ENDED 30 JUNE 2021

APPOINTMENT OF TRUSTEES

The constitution of the company states that there shall be no limit to the number of members of the company. Each of the subscribers to the Memorandum of Association of the Company shall be a member of the company for as long as he or she remains a trustee. All trustees shall be deemed to be a director of the Company within the terms of the Act and any statutory modification. An application to become a trustee of the Company shall be made in a form as may from time to time be prescribed by the Committee members. The Committee appoints its trustees at the Annual General Meeting, and they hold office until they either resign or are replaced by new members at the next AGM.

There are three classes of trustees who can be appointed or re-appointed at each AGM. These are:

Staff trustees means persons who are from time to time and for the time being members of the Academic Staff of Queen Mary University of London, School of Medicine and Dentistry or the consultant staff of the Bart’s Health NHS Trust. External trustees means persons who are neither members of staff nor students nor graduates within 5 years of Queen Mary University of London, School of Medicine and Dentistry. Student trustees means persons who are from time to time and for the time being pre-clinical, clinical, medical, or dental students or medical or dental graduates within 5 years of qualification of Queen Mary University of London, School of Medicine and Dentistry. Induction and Training This is provided by the more senior trustees who guide and advise new trustees in the workings of the trust.

ORGANISATIONAL STRUCTURE

The administration of the trust is divided into two committees:

The Main Committee This is the governing Committee of the whole trustee body and members who hear reports from the Finance Committee, along with other items such as Student Activities and Residents report. It also oversees all matters regarding the Trusts accommodation.

Finance Committee This is a sub-committee of Trustees who oversee the finances of the trust and manage the Trust Administrator who has delegated responsibility for the day-to-day financial transactions of the Trust. All payments of the trust are authorised before payment is made.

The Trust finances are further divided into 2 areas:

The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308

Page 4

TRUSTEES ANNUAL REPORT (incorporating the Directors’ Report) FOR THE YEAR ENDED 30 JUNE 2021

Statement of Trustees' responsibilities in respect of the Trustees' Annual Report and the financial statements

The trustees (who are also directors of the company for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006.

They are also responsible for safeguarding the assets of the charitable company and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

RISK MANAGEMENT

The Finance Committee conducted a review of the financial risks faced by the Trust in May 2021. The Committee considers that there are sufficient financial risk management procedures and internal controls in place adequate to reduce such risks to an acceptable level to the trustees. It is intended a review of risk management and all other procedures will be conducted on a timetabled basis.

OBJECTIVES AND ACTIVITIES

The Charity’s objectives are as follows:

The trusts’ charitable purpose under the Charities Act 2011 is for the advancement of citizenship and community development.

The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308

Page 5

TRUSTEES ANNUAL REPORT (incorporating the Directors’ Report) FOR THE YEAR ENDED 30 JUNE 2021

PUBLIC BENEFIT

The Trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees view that its work integrating the medical and dental students with the elderly in the various activities run has both social and learning benefits for the two disparate groups. In planning our activities to encompass this integration we will continue to contribute to the aims and objectives we have set.

VOLUNTEERS

The directors and committee members and students provide numerous services at no cost. The Griffin Community Trust relies on these volunteers for help in the running of the company’s many activities.

ACHIEVEMENTS AND PERFORMANCE

The Trust’s work with the students aimed at ways to improve the accommodation, whilst keeping them affordable, this is an ongoing project.

In the light of the Covid Pandemic, the Trust set the students the task to develop imaginative and ingenious ways to interact with the elderly residents of Lansbury Lodge and Toynbee Hall. The students took up this challenge and now interact with the residents on a one-to-one meeting basis as well as long distance over mobile communications.

During the year, the Trust commenced on a review and development of their Articles of Association. A financial review of investments was undertaken with close monitoring of the cash position of the charity.

During the year the Trust progressed it’s green initiative by moving its energy supply to 100% fully renewable.

FINANCIAL REVIEW

A summary of the results of the year’s activity is given on page 9 of the accounts.

Income for the period was £120,121 (2020 - £105,052) and after expenditure and investment gains a surplus resulted of £65,852 (2020 – (£16,442) deficit).

RESERVES POLICY

As of 30[th] June 2021, the Trust held £670,235 in unrestricted reserves (2020 - £580,795) along with £283,490 in restricted reserves (2020 - £307,078). No funds were in deficit throughout the year.

Unrestricted – (funds that are freely available to spend on any of the Trust’s charitable purposes)

Unrestricted Reserves are held to service unexpected need for funds, covering unforeseen day-to-day operational costs, a shortfall in income or to fulfil its obligations. They are derived from rental income, general donations, investment income and bank interest received, after deducting expenses on main trust business and Griffin House.

Restricted – (funds donated to be used for a specific purpose or project)

The Griffin House Fund Restricted Reserves is held specifically for their purpose in the development of capital housing projects. The Griffin House capital fund being the balance of the original sum donated for housing projects, plus interest added, less expenditure against this Fund.

The Student Activity fund is financed by donations specifically for Student activities in the operation of the Trusts objectives. Any expenditure in excess of these donations is funded by the unrestricted fund.

Investment of reserves - Excess liquidity will be placed in an interest-bearing account or invested with financial institutions for a longer-term period. This period is reviewed on a regular basis.

The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308

Page 6

TRUSTEES ANNUAL REPORT (incorporating the Directors’ Report) FOR THE YEAR ENDED 30 JUNE 2021

The Trustees assessment is that it requires £140,000 to cover expenditure in the event of an interruption to rental income. The balance of the unrestricted reserve will be added to the cash balances of the Griffin House fund and placed towards any new project being developed.

FUTURE PLANS

FUNDS HELD AS CUSTODIAN TRUSTEES ON BEHALF OF OTHERS

All funds held belong to Griffin Community Trust. No funds are held on behalf of others.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308

Page 7

THE GRIFFIN COMMUNITY TRUST

Griffin Community Trust Chair’s report 2021

It has been another year of unexpected challenges due to the pandemic; the world has been an uncertain place and we have prioritized the safety of the older residents and students this year. During the second peak this winter many of our committee members and students worked towards the pandemic, with many students studying from home or volunteering to help on the front line. We are very proud of the collective effort of our community for the inspirational work they have been doing especially those working on the front line.

We have continued our meetings on a virtual platform which has allowed us to continue to run the charity with our committee’s wisdom and catch up regularly. Our meetings have helped us navigate the challenges which have faced us and to support each other. Our virtual meetings have allowed flexibility for our committee, and we have continued to have excellent attendance due to this. The School of Medicine and Dentistry is now open with our students continuing with their education, majority of the students and committee have now been vaccinated and are testing regularly to ensure safety. We have selected our new students for the coming year who will be moving in September.

We have continued to avoid face to face contact with the older people during this year due to the risk of transmission to the older people. However, the students have worked hard to maintain these relationships showing their creativity and passion. They have created gift boxes with the older people at Christmas and Easter which included some edible treats and a newsletter with photographs. This allowed us to share our updates with the older people who do not have access to technology and helped to keep the connection in our community strong. Additionally, one of our students also arranged a delivery of poppies and treats for the older people for Remembrance Sunday which showed the students thoughtfulness.

Our Toynbee Hall representatives have excelled themselves this year in strengthening bonds with their volunteering working with the Toynbee Hall to continue befriending virtually during the pandemic. They have started to recommence activities in recent months with limited numbers of older people which our students have been helping to co-ordinate.

Kat Price and Claire Dow organized another teaching meeting, virtually this time, which introduced the new students to working with older people from talks about frailty to a rundown of local services. The student chairs led a discussion about working with older people at Shaftesbury Lodge which was helpful in encouraging discussions of case scenarios to share experiences and ideas.

We have taken the time over lockdown to continue to update the Griffin constitution and we are very grateful to Gbenga for working with our legal team, despite living in Canada, to complete the final version of our constitution. This has been submitted to the Charities Commission for review and we are awaiting their feedback. We hope to present the final version to the committee soon.

A special thank you to Brian Colvin and Judith Walker for all their support and hard work this year stepping in to help when other committee members were busy on the front line. Dan Regan and Tony Pettit have continued to financially steer us through difficult times, and we are grateful for their attention to detail. We look forward to introducing a new member to our finance committee, Mr Stephen Rockhill who has been attending meetings and we value his expertise and experience. Thank you to Heather Hill for continuing to oversee the running of Griffin House despite the pandemic. Thank you to Renee Fitzgerald for representing Shaftesbury as a Trustee, although we have missed her at meetings. We would also like to acknowledge Dr Claire Dow for her expertise with older people’s medical and social issues and also Dr Fabia Chan who have undertaken a role as our governance lead. As well as Dr Arief Gunawan and Dr Jane Heraghty for their input this year. We would also like to say a huge thank you to the Marie Celeste Samaritan Society, for their generous donation this year and continued financial support. We were sorry to hear of the death of Andrew Paris who was such a great supporter of Griffin.

And most of all we thank the students who have shown their creativity this year in reaching out to the older people in new inventive ways. They continue to create opportunities to foster connections despite the challenges this year and we hope that the future brings new events and interactions with the older people in the safest way possible. Moreover, the student chairs this year, Jaimie, Leila and Tobi have worked hard with enthusiasm and understanding in a challenging time. We wish the finalists leaving this year all the best with their future careers and their adventures to come!

Dr Kat Price and Dr Veronica White Chair, Griffin Community Trust 2[nd] November 2021

The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308

Page 8

UNQUALIFIED REPORT OF THE INDEPENDENT EXAMINER TO THE MEMBERS OF THE GRIFFIN COMMUNITY TRUST LIMITED (charitable company in England & Wales)

Independent Examiner's Report to the Trustees of The Griffin Community Trust

I report to the charity trustees on my examination of the accounts of the company for the year ended 30 June 2021 which are set out on pages 9 to 17.

Responsibilities and basis of report

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 (1A)).

The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308

Page 9

THE GRIFFIN COMMUNITY TRUST

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 30[TH] JUNE 2021

2021
Restricted
2021
Unrestricted
Notes
Funds
Funds

Income and Expenditure
£
£
Income and endowments from:
Donations and legacies
Charitable activities
Investments
Total income and endowments
Expenditure on:
Raising funds: Investment management costs
Charitable activities
Other: Governance costs
Total expenditure
Net gains/(losses) on investments
Net income/(expenditure)
Tax on activities
Net movement in funds
Reconciliation of funds:
Total funds brought forward at 1stJuly 2020
Total funds carried forward at 30thJune 2021
3
4
5
6
7
9
13
17
17
17
-
-
-
-
-
23,588
-
23,588
-
(23,588)
-
(23,588)
307,078
283,490
15,000
89,595
15,526
120,121
3,260
76,373
7,744
87,377
56,696
89,440
-
89,440
580,795
670,235
 2021
Total
Funds
£
15,000
89,595
15,526
120,121
3,260
99,961
7,744
110,965
56,696
65,852
-
65,852
887,873
953,725


 2020
Total
Funds
£
355
88,671
16,026
105,052
3,171
105,837
5,736
114,744
(6,750)
(16,442)
-
(16,442)
904,315
887,873

All income and expenditure derive from continuing activities and represents restricted and unrestricted funds of the charity.

There were no recognised gains or losses other than those shown in the Statement of Financial Activities for the year ended 30[th] June 2021.

The notes on pages 12 to 17 form part of these financial statements.

The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308

Page 10

THE GRIFFIN COMMUNITY TRUST

BALANCE SHEET 30[TH] JUNE 2021

FIXED ASSETS
Tangible assets
Investments
Total fixed assets
CURRENT ASSETS
Debtors
Cash at bank and in hand
Total current assets
LIABILITIES
Creditors: Amounts falling due within one year
NET CURRENT ASSETS
NET ASSETS
The Funds of the charity
UNRESTRICTED FUNDS
RESTRICTED FUNDS
Total Charity Funds		 Notes
12
13
14
15
17
17
17		 Total
Funds
2021
£
346,288
574,120
920,408
7
58,116
58,123
(24,806)
33,317
953,725
670,235
283,490
953,725		 Total
Funds
2020
£
346,642
505,162
851,804
-
54,372
54,372
(18,303)
36,069
887,873

580,795
307,078
887,873

For the year ending 30 June 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308

Page 11

BALANCE SHEET - 30[TH] JUNE 2021 (continued)

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The notes on pages 12 to 17 form part of these financial statements.

The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308

Page 12

THE GRIFFIN COMMUNITY TRUST

NOTES TO THE ACCOUNTS - 30[TH] JUNE 2021

1. PRINCIPAL ACCOUNTING POLICIES

(a) General information and basis of preparation

The Griffin Community Trust is a private company, limited by guarantee, registered in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per Trustee of the charity. The address of the registered office is given in the charity information on pages 1 and 2 of these financial statements.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared under the historical cost convention and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) published in October 2019 affecting reporting periods beginning on or after 1 January 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice as it applies from 1 January 2015.

The charity has taken the advantage of the disclosure exemption in preparing these financial statements as permitted by Financial Reporting Standard FRS102. Therefore, these annual financial statements do not include a cash flow statement on the grounds that it is applying Section 1A of Financial Reporting Standard FRS102.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) Funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for a particular purpose. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the Trustees Annual Report.

(c) Income recognition

All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received.

(d) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. Expenditure includes all irrecoverable VAT.

The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308

Page 13

THE GRIFFIN COMMUNITY TRUST

NOTES TO THE ACCOUNTS - 30[TH] JUNE 2021

Costs of raising funds comprise investment management costs relative to the charity’s investments.

Charitable expenditure comprises all expenditure directly related to the objects of the charity. Governance costs include the costs of governance arrangements, which relate to the general running of the charity as opposed to the direct management functions inherent in generating funds, service delivery and programme or project work. These activities provide the governance infrastructure, which allows the charity to operate and to generate the information required for public accountability. They include the strategy planning processes that contribute to future development of the charity.

Support costs include the central functions such as general management, administration, budgeting and accounting, information technology, and financing. Support costs do not, in themselves, constitute an activity; instead, they enable output-creating activities to be undertaken.

(e) Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs and administrative costs. They are incurred directly in support of expenditure on the objects of the charity. Support costs have been allocated solely to the Griffin House activity on the basis that all costs relating to Student Activities are already directly attributed to this activity.

(f) Services in kind

No account is taken of the substantial contributions made by the directors and committee members and other medical students who provide numerous services free of charge as volunteers.

(g) Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as stated below. There is a full year’s provision in the year of purchase. Only expenditure greater than £500 on capital items is capitalised.

Depreciation rate
Equipment 25%
Fixtures and Fittings 20%
Land and Building 2%

(h) Investments

Investments are recognised initially at fair value which is normally the transaction price. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SOFA if the shares are publicly traded or their fair value can otherwise be measured reliably.

(i) Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

(j) Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

2. DONATIONS IN KIND

As reported in note 1 (f), The Griffin Community Trust relies on part-time volunteers for help in the running of the company.

The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308

Page 14

THE GRIFFIN COMMUNITY TRUST

NOTES TO THE ACCOUNTS - 30[TH] JUNE 2021

3. INCOME FROM DONATIONS AND LEGACIES
Restricted
Funds
Unrestricted
Funds
Total
2021


£
£
£

Donations
-
15,000
15,000
4. INCOME FROM CHARITABLE ACTIVITIES
Restricted
Funds
Unrestricted
Funds
Total
2021


£
£
£

Griffin House rental income
-
89,595
89,595
5. INCOME FROM INVESTMENTS
Restricted
Funds
Unrestricted
Funds
Total
2021


£
£
£

Schroders distribution
Elevate portfolio distribution
Interest received
-
-
-
-
10,150
5,372
4
15,526
10,150
5,372
4
15,526
6. INVESTMENT MANAGEMENT COSTS
Restricted
Funds
Unrestricted
Funds
Total
2021


£
£
£

Portfolio management fees
-
3,260
3,260
7. EXPENDITURE ON CHARITABLE ACTIVITIES
Restricted
Funds
Unrestricted
Funds
Total
2021


£
£
£

Griffin House (Activity 1)
Washing Machine Lease
Griffin House Maintenance
Utilities
Insurance
TV Licences
Site Manager
Depreciation
Garden Cost
Support costs (Note 8)
Student activities (Activity 2)
Student activities
Support costs (Note 8)
Total
-
-
-
-
-
-
23,588
-
-
23,588
-
-
-
23,588
2,144
21,611
12,648
2,194
945
7,500
-
-
27,589
74,631
1,742
-
1,742
76,373
2,144
21,611
12,648
2,194
945
7,500
23,588
-
27,589
98,219
1,742
-
1,742
99,961
 Total
2020
£
355
Total
2020
£
88,671
Total
2020
£
9,781
6,173
72
16,026
Total
2020
£
3,171
Total
2020
£
2,105
20,725
12,268
1,761
927
7,500
19,548
-
25,509
90,343
15,494
-
15,494
105,837

The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308

Page 15

THE GRIFFIN COMMUNITY TRUST

NOTES TO THE ACCOUNTS - 30[TH] JUNE 2021

8. ALLOCATION OF SUPPORT COSTS
Griffin
House
(Activity 1)
Student
Activities
(Activity 2)
£
£
Accountancy and Administration
Postage
Stationery
Telephone
Legal & Professional
Bank charges
16,490
49
226
4,074
6,667
83
27,589
-
-
-
-
-
-
-
9. GOVERNANCE COSTS
Restricted
Funds
Unrestricted
Funds
£
£
Accountancy and Administration
Independent Examination Fee
Meeting Expenses
-
-
-
-
4,000
3,600
144
7,744
10. NET INCOME/(EXPENDITURE) FOR THE YEAR
Net income/(expenditure) is stated after charging/(crediting):
Depreciation of tangible fixed assets		 Total
2021
£
16,490
49
226
4,074
6,667
83
27,589
Total
2021
£
4,000
3,600
144
7,744
Total
2021
£
23,588		 Total
2020
£
20,950
42
164
4,269
13
71
25,509
Total
2020
£
4,000
1,680
56
5,736
Total
2020
£
19,548

11. INDEPENDENT EXAMINERS REMUNERATION

The independent examiners remuneration amounts to an independent examination fee of £2,000 (2020 - £1,180) and accountancy services of £1,600 (2020 – £500).

12. TANGIBLE FIXED ASSETS

2. TANGIBLE FIXED ASSETS

Cost
At 1stJuly 2020
Additions
At 30thJune 2021
Depreciation
At 1stJuly 2020
Charge for the year
At 30thJune 2021
Net Book Value
At 30thJune 2020 (B/Fwd.)
At 30thJune 2021 (C/Fwd.)		 Leasehold
Land and Building
£
596,657
-
596,657
273,840
11,933
285,773
322,817
310,884		 Fixtures and Fittings
£
149,988
23,234
173,222
126,163
11,655
137,818
23,825
35,404		 Equipment
£
13,136
-
13,136
13,136
-
13,136
-
-
 Total
£
759,781
23,234
783,015
413,139
23,588
436,727
346,642
346,288

£
£

783,015

413,139
23,588

436,727

346,642

346,288

There were no capital commitments authorised but not entered into at the year-end (2020-nil).

All assets are held for charitable purposes.

The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308

Page 16

THE GRIFFIN COMMUNITY TRUST

NOTES TO THE ACCOUNTS - 30[TH] JUNE 2021

13. INVESTMENTS
Schroders Investment Fund
Elevate Portfolio
Market
Value
2020
£
257,337
247,825
505,162
Additions at
cost
£
10,150
5,356
15,506
Disposals at
OMV
£
-
(3,348)
(3,348)
Investments at fair value comprise:
Listed investments
Cash within investment portfolio
Gains/losses on disposal of investments and unrealised
gains/losses on revaluation:
Gains on disposal of investments
Losses on disposal of investments
Unrealised gains on revaluation
Unrealised losses on revaluation
Net gains/(losses) on investments
14. DEBTORS
British Gas
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Accruals
Deferred income (Note 16)
Prepaid deposits
Damage deposits
16. DEFERRED INCOME
At 1 July 2020
Additions during the year
Amounts released to income
At 30 June 2021
Under 1 year
£
-
8,145
(-)
8,145
Over

 13. INVESTMENTS
Schroders Investment Fund
Elevate Portfolio
Market
Value
2020
£
257,337
247,825
505,162
Additions at
cost
£
10,150
5,356
15,506
Disposals at
OMV
£
-
(3,348)
(3,348)
Investments at fair value comprise:
Listed investments
Cash within investment portfolio
Gains/losses on disposal of investments and unrealised
gains/losses on revaluation:
Gains on disposal of investments
Losses on disposal of investments
Unrealised gains on revaluation
Unrealised losses on revaluation
Net gains/(losses) on investments
14. DEBTORS
British Gas
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Accruals
Deferred income (Note 16)
Prepaid deposits
Damage deposits
16. DEFERRED INCOME
At 1 July 2020
Additions during the year
Amounts released to income
At 30 June 2021
Under 1 year
£
-
8,145
(-)
8,145
Over

 13. INVESTMENTS
Schroders Investment Fund
Elevate Portfolio
Market
Value
2020
£
257,337
247,825
505,162
Additions at
cost
£
10,150
5,356
15,506
Disposals at
OMV
£
-
(3,348)
(3,348)
Investments at fair value comprise:
Listed investments
Cash within investment portfolio
Gains/losses on disposal of investments and unrealised
gains/losses on revaluation:
Gains on disposal of investments
Losses on disposal of investments
Unrealised gains on revaluation
Unrealised losses on revaluation
Net gains/(losses) on investments
14. DEBTORS
British Gas
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Accruals
Deferred income (Note 16)
Prepaid deposits
Damage deposits
16. DEFERRED INCOME
At 1 July 2020
Additions during the year
Amounts released to income
At 30 June 2021
Under 1 year
£
-
8,145
(-)
8,145
Over

 Revaluation
Gain/(Loss)
£
31,343
25,457
56,800
Market
Value
2021
£
298,830
275,290
574,120
2021
£
574,208
(88)
574,120
2020
£
505,178
(16)
505,162
2021
£
28
(132)
(104)
57,413
(613)
56,800
56,696
2020
£
48
(1)
47
3,461
(10,258)
(6,797)
(6,750)
2021
£
7
7
2020
£
-
-
2021
£
6,806
3,600
8,145
500
5,755
24,806
2020
£
8,368
1,680
-
2,505
5,750
18,303
1 year
£
-
-
-
-
Total
£
-
8,145
(-)
8,145


Income has been deferred for rental income received in advance of the next accounting year.

The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308

Page 17

THE GRIFFIN COMMUNITY TRUST

NOTES TO THE ACCOUNTS - 30[TH] JUNE 2021

17. FUND RECONCILIATION

Unrestricted funds

Unrestricted funds
Unrestricted
Restricted funds
The Griffin House Fund		 Balance
1 July
2020
£
580,795
Balance
1 July
2020
£
307,078		 Movement in Resources
Income
£
120,121
Expenditure
£
(87,377)
Transfers
£
-
Movement in Resources
Income
£
-
Expenditure
£
(23,588)
Transfers
£
-		 Gains/
(losses)
£
56,696
Gains/
(losses)
£
-		 Balance
30 June
2021
£
670,235

Balance
30 June
2021
£
283,490

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and have not been designated for any particular purpose.

The Griffin House Fund was established in 1995 to provide for a project to redevelop a home for the elderly and a community centre at Lansbury Lodge, incorporating a number of student residences.

18. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed assets
Net current assets/(liabilities)		 Unrestricted funds
£
636,918
33,317
670,235		 Restricted funds
£
283,490
-
283,490		 Total
£
920,408
33,317
953,725

19. RELATED PARTIES TRANSACTIONS

The Trustees did not make any donations without conditions to the charity this accounting year (2020 - £Nil).

There were no other related party transactions during the period (2020 - £Nil).

20. EXPENSES AND REMUNERATION PAID TO TRUSTEES

No committee members received expenses for attending Trust meetings during the period (2020 - £Nil). Neither did any trustees receive remuneration or benefits (2020 - £Nil).

21. STAFF

The charity does not employee any staff (2020 - £Nil).

The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308

Page 18

THE GRIFFIN COMMUNITY TRUST

DETAILED INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30[TH] JUNE 2021

This page does not form part of the statutory accounts.

INCOME
Donations – Restricted
-
Unrestricted
GOVERNANCE AND SUPPORT COST
Administration
Investment management fees
Travel and Subsistence
Accountancy and administration
Independent Examination Fee
Postage
Telephone
Stationery
Bank Charges
Legal & Professional
Office & Meeting
INCOME AVAILABLE FOR CHARITABLE
EXPENDITURE
DIRECT CHARITABLE EXPENDITURE
Unrestricted
30thAnniversary Dinner
Griffin House
Site Manager
Maintenance
Utilities
Insurance
Garden Costs
Washing Machine Lease
T V Licences
Student Activities
Restricted
Depreciation
30thAnniversary Dinner
Student activities
OPERATING Surplus/ (Deficit) for the year
Interest & Investment Income
Investment (loss) / gains
Surplus/ (Deficit) for the year
 2021
£
-
104,595
3,260
-
20,490
3,600
49
4,074
226
83
6,667
144
-
7,500
21,611
12,648
2,194
-
2,144
945
1,742
48,784
23,588
-
-
23,588



 £
104,595
38,593
66,002
72,372
(6,370)
15,526
56,696
65,852		 2020
£
-
89,026
3,171
-
24,950
1,680
42
4,269
164
71
13
56
-
7,500
20,725
12,268
1,761
-
2,105
927
15,494
60,780
19,548
-
-
19,548



 £
89,026
34,416
54,610
80,328
(25,718)
16,026
(6,750)
(16,442)

The Griffin Community Trust (A Company limited by guarantee registered in England & Wales) Company registration number: 02572039, Charity registration number: 1013308