2021-03-31-accounts - Aberglasney Restoration Trust

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Reference and Administrative	Reference and Administrative
Strategic Report			2 to 3
Trustees' Repott			4to7
Independent Auditors'	Report		8 to 10
Consolidated Statetnent	ofFinancial	Activities
Consolidated Balance	Sheet		12
Balance Sheet			13
Consolidated Statement	ofCash Flows		14
Statement ofCash Flows			15
Notes to the Financial	Statements		16to 35

			Co	nsolidated	Balance Shee	t as at 31	March 2021
							2021	2020
						Note
Fixed assets
Tangible assets						16	3,483,900	3,498,344
Current assets
Stocks						17	44,930	37,782
Debtors						18	(2,706)	19,435
Investments						19	2,317,808	2,023,890
Cash at bank	and	in hand				20	694,333	414,811
							3,054,365	2,495,918
Creditors: Amounts			falling	due within	one year	21	(112,701)	(68,100)
Net current	assets						2,941,664	2,427,818
Net assets							6,425,564	5,926,162
Funds ofthe	group:
Endowment	funds						2,320,361	2,023,890
Restricted income funds
Restricted funds						22	1,712,297	1,639,685
Unrestricted	income		funds
Unrestricted	funds						2,392,906	2,262,587
Total funds						22	6,425,564	5,926,162
For the financial		year	ending	31 March	2021 the company	was entitled	to exemption fiom audit	under section
477 ofthe Companies			Act 2006 relating		to small companies.

		Balance Sheet as at	31 March 2021
				2021	2020
			Note	f.
Fixed assets
Tangible assets			16	3,478,724	3,491,442
Current assets
Debtors			18	(3,580)	18,436
Investments			19	586,072	511,428
Cash at bank	and in hand		20	652,740	376,332
				1,235,232	906,196
Creditors: Amounts		falling due within one year	21	(83,573)	(48,081)
Net current	assets			1,151,659	858,115
Net assets				4,630,383	4,349,557
Funds ofthe	charity:
Endowment	funds			588,439	511,424
Restricted income funds
Restricted funds			22	1,675,940	1,634,827
Unrestricted	income	funds
Unrestricted	funds			2,366,004	2,203,306
Totalfunds			22	4,630,383	4,349,557

						2021	2020
					Note
Cash flows from operating	activities
Net cash income						499,403	268,270
Adjustments to cash flows	from non-cash			items
Depreciation						52,937	51,564
Investment income						(263)	(254)
						552,077	319,580
Working capital adjustments
(Increase)/decrease in stocks					17	(7,]48)	12,342
Decrease in debtors					18	22,141	10,830
Increase/(decrease) in creditors					21	44,601	(16,532)
Decrease in provisions						(12,965)
Decrease in deferred income							(82)
Net cash flows from operating		activities				598,706	326,138
Cash flows from investing activities
Interest receivable and similar		income			6	263	254
Purchase oftangible fixed assets					16	(20,423	(5,509)
Net cash flows from investing		activities				(20,160)	(5,255
Cash flows from financing	activities
Repayment ofloans and borrowings					21		(6,725)
Payments out ofpermanent endowment			funds			(299,024)	(107,081)
Net cash flows from financing		activities				(299,024)	(113,806)
Net increase in cash and cash	equivalents					279,522	207,077
Cash and cash equivalents at	I	April				414,811	207,734
Cash and cash equivalents at	31 March					694,333	414,811

					2021	2020
				Note
Cash flows from operating	activities
Net cash income					280,826	252,744
Adjustments to cash flows	from non-cash		items
Depreciation					51,211	49,264
Investment income					(263)	(254)
					331,774	301,754
Working capital adjustments
Decrease in debtors				18	22,016	6,711
Increase in creditors				21	35,492	4,137
Decrease in provisions					(15,517)
Net cash flows from operating activities					373,765	312,602
Cash flows from investing	activities
Interest receivable and similar income				6	263	254
Purchase oftangible fixed assets				16	(20,423)	5,509)
Net cash flows from investing activities					(20,160)	(5,255)
Cash flows from financing	activities
Repayment ofloans and borrowings				21		(6,725)
Payments out ofpermanent	endowment	funds			(77,197)	(28,166)
Net cash flows from financing activities					(77,197)	(34,891)
Net increase in cash and cash equivalents					276,408	272,456
Cash and cash equivalents	at 1 April				376,332	103,876
Cash and cash equivalents	at 31March				652,740	376,332

				Unrestricted
				funds	Restricted	Total	Total
				General	funds	2021	2020
Donations	and legacies;
Donations		from	individuals	3,842	101,500	105,342	22,399
Legacies							225,000
GiA aid	reclaimed			31,211		31,211	38,787
Grants, including			capital grants;
Government		grants		260,721		260,721	6,795
				295,774	101,500	397,274	292,981

							Unrestricted
							funds	Total	Total
							General	2021	2020
	Gardens &Mansion				House		166,606	166,606	272,883
5	Income from		other trading			activities
							Unrestricted
							funds	Total	Total
							General	2021	2020
Trading income;
	Sales ofgoods		and	services			158,489	158,489	360,773
Events income;
	Other events income								50,160
							158,489	158,489	410,933
6	Investment	income
							Unrestricted
							funds	Total	Total
							General	2021	2020
							f.
Interest receivable			and similar income;
	Interest receivable			on	bank deposits		263	263	254

Unrestricted
funds	Total	Total
General	2021	2020
47,325	47,325	46,679

				Unrestricted
				funds	Total	Total
				General	2021	2020
			Note
Costs	ofgoods	sold		66,262	66,262	154,434
				66,262	66,262	154,434

				Unrestricted
				funds	Total	Total
				General	2021	2020
			Note
Allocated	support	costs	10	(19,311)	(19,311)	32,493)
				(19,311)	(19,311)	(32,493)

9 Expend	it	ure on ch	aritable acti	vities
				Unrestricted
				funds	Restricted	Total	Total
				General	funds	2021	2020
			Note
Gardens &Mansion
House				178,367	3,070	181,437	249,540
Depreciation,
amortisation		and
other similar		costs		25,391	25,820	51,211	49,264
Staff costs				244,276		244,276	315,384
Allocated	support
costs			10	244		244	1,317
Governance		costs	10	17,687		17,687	20,736
				465,965	28,890	494,855	636,241

			Unrestricted
			funds	Total	Total
			General	2021	2020
				f.
Audit fees
Audit ofthe financial		statements	7,000	7,000	6,600
Other governance	costs		6,675	6,675	6,050
			13,675	13,675	12,650

Net incoming resources for the year include;
	2021	2020
Audit fees	7,000	6,600
Depreciation offixed assets	51,211	49,264

13 Staff costs
The aggregate	payroll costs were as follows:
			2021	2020
Staff costs during		the year were:
Wages and salaries			245,926	311,266
Social security	costs		17,554	4,442
Pension costs			6,544	1,251
			270,024	316,959

year expr	esse	d as full	time equivale	nts was as follows:
						2021	2020
						No	No
Average	number ofemployees						16
No employee		received	emoluments	ofmore than f60,000 during	the year.
14 Auditors'		remuneration
						2021	2020
Auditof	the	financial	statements			7,000	6,600

Group
	Land and	Furniture and	Computer
	buildings	equipment	equipment	Total
Cost
At 1 April 2020	3,547,478	400,644	35,905	3,984,027
Additions			20,423	20,423
At 31March 2021	3,547,478	400,644	56,328	4,004,450
Depreciation
At 1 April 2020	131,991	303,391	32,231	467,613
Charge for the year	28,117	16,182	8,638	52,937
At 31 March 2021	160,108	319,573	40,869	520,550
Net book value
At 31 March 2021	3,387,370	8],071	15,459	3,483,900
At 31 March 2020	3,415,487	97,253	3,674	3,516,414
Charity
	Land and	Furniture and	Computer
	buildings	equipment	equipment	Total
		f.
Cost
At 1 April 2020	3,547,478	400,644	35,905	3,984,027
Additions			20,423	20,423
At 31March 2021	3,547,478	400,644	56,328	4,004,450
Depreciation
At 1 April 2020	131,991	303,391	32,231	467,613
Charge for the year	28,117	16,182	8,638	52,937
At 31March 2021	160,108	319,573	40,869	520,550
Net book value
At 31 March 2021	3,387,370	81,071	15,459	3,483,900
At 31March 2020	3,415,487	97,253	3,674	3,516,414

17 Stock
					Group		Charity
					2021	2020	2021
Stocks					44,930	37,782
18 Debtors
				Group		Charity
				2021	2020	2021	2020
				f.	f.
Trade debtors				(128)	12,437	(1,002)	11,438
VAT recoverable				(2,578)	(1,470)	(2,578)	(1,470)
Other debtors					8,468		8,468
				(2,706)	19,435	(3,580)	18,436
19 Current	asset investments
				Group		Charity
				2021	2020	2021	2020
Shares in group undertakings				and
participating		interests				4	4
Listed other shares				2,317,808	2,023,890	586,068	511,424
				2,317,808	2,023,890	586,072	511,428
20 Cash and		cash equivalents
				Group		Charity
				2021	2020	2021	2020
					f.
Cash on hand				2,155	2,191	1,755	1,791
Cash at bank				692,178	412,620	650,985	374,541
				694,333	414,811	652,740	376,332
21 Creditors:		amounts	falling due within one year
				Group		Charity
				2021	2020	2021	2020
						f.	f.
Trade creditors				27,181	23,026	14,504	16,391
Other taxation		and social	security 5,044		3,913	5,044	3,913
VAT				(7,677)	(784)
Other creditors				44,580	17,063	22,152	4,575
Accruals				43,573	24,882	41,873	23,202
				112,701	68,100	83,573	48,081

Group
						Other	Balance at
			Balance at 1	Incoming	Resources	recognised	31March
			April 2020	resources	expended	gains/(losses)	2021
Unrestricted funds
General
General Funds			2,262,584	669,627	(539,305)		2,392,906
Restricted funds
Mansion Phase	V
Restoration			680,940		(2,410)		678,530
Piggeries Project - Phase		1	102,768		(2,277)		100,491
Piggeries Project - Phase		2
(Capital)			820,730		(18,380)		802,350
Bridge Project			9,290		(1,858)		7,432
Wisteria Arch	&Gates Fund		14,039	5,000	(3,698)		15,341
Tanner Trust Fund			7,060	65,000	(267)		71,793
Alit Aberglasney			4,860	31,500			36,360
Total restricted	funds		1,639,687	101,500	~(28,890		1,712,297
Endowment funds
Expendable
Cabot Fund			1,512,466			219,274	1,731,740
Kerry Fund			511,424			77,197	588,621
			2,023,890			296,471	2,320,361
Total funds			5,926,161	771,127	(568,(95)	296,471	6,425,564

					Other	Balance at
	Balance at 1	Incoming	Resources		recognised	31March
	April 2019	resources	expended	Transfers	gains/(losses)	2020
Unrestricted	funds
General
General
Funds	1,998,781	1,004,365	(728,662)	(11,899)		2,262,585
Restricted
funds
Mansion
Phase V
Restoration	683,350		(2,410)			680,940
Piggeries
Project-
Phase 1	105,043		(2,277)			102,767
Piggeries
Project-
Phase 2
(Capital)	831,754		(18,923)	7,898		820,729
Piggeries
Project-
Phase 2
(Activity)	7,149	6,795	(6,795)	(7,149)
Bridge
Project			(1,858)	11,148		9,290
Wisteria
Arch &
Gates Fund	9,667	5,000	(628)			14,039
Tanner
Trust Fund	7,478		(418)			7,060
Alit
Aberglasney		12,910	(8,050)			4,860
Total
restricted
funds	1,644,441	24,705	~(4(,359	11,898		1,639,685
Endowment	funds
Expendable
Cabot Fund	1,505,799				6,667	1,512,466
Kerry Fund	508,871				2,553	511,424
Total funds	2,014,670 5,657,892	1,029,070	(770,021)	~1)	9,220 9,220	2,023,890 5,926,160

Charity
							Other	Balance at
				Balance at 1	Incoming	Resources	recognised	31March
				April 2020	resources	expended	gains/(losses)	2021
							f.
Unrestricted funds
General
Unrestricted				2,203,301	582,822	(420,119)		2,366,004
Restricted funds
Mansion Phase	V
Restoration Works				680,941		(2,410)		678,531
Piggeries Project -		Phase	1	102,769		(2,277)		100,492
Piggeries Project -		Phase	2
(Capital)				820,731		(18,380)		802,351
Bridge Project				9,290		(1,858)		7,432
Wisteria Arch	& Gates Fund			14,039	5,000	(3,698)		15,341
Tanner Trust Fund				7,060	65,000	(267)		71,793
Total restricted	funds			1,634,830	70,000	(28,890)		1,675,940
Endowment funds
Expendable
Kerry Endowment		Fund		511,242			77,197	588,439
				511,242			77,197	588,439
Total funds				4,349,373	652,822	(449,009)	77,197	4,630,383

					Other	Balance at
	Balance at 1	Incoming	Resources		recognised	31March
	April 2019	resources	expended	Transfers	gains/(losses)	2020
		f.
Unrestricted	funds
General
Unrestricted	1,943,497	713,595	(441,885)	(11,899)		2,203,308
Restricted
funds
Mansion
Phase V
Restoration
Works	683,350		(2,410)			680,940
Piggeries
Project-
Phase 1	105,044		(2,277)			102,768
Piggeries
Project-
Phase 2
(Capital)	831,755		(18,923)	7,898		820,730
Piggeries
Project-
Phase 2
(Activity)	7,149	6,795	(6,795)	(7,149)
Bridge
Project			(1,858)	11,148		9,290
Wisteria
Arch &
Gates Fund	9,667	5,000	(628)			14,039
Tanner
Trust Fund	7,478		(418)			7,060
Total
restricted
funds	1,644,443	11,795	~(33,309	11,898		1,634,827
Endowment	funds
Expendable
Kerry
Endowment
Fund	508,871				2,553	511,424
Total funds	508,871 4,096,811	725,390	~(475, (94	~1	2,553 2,553	511,424 4,349,559