2021-04-05-accounts - The Audrey Muriel Stratford Charitable Trust

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	Page
Trustees' annual report
Trustees' responsibilities statement
Independent auditor's report to the members
Statement offinancial activities	10
Balance sheet
Statement ofcash flows	12
Notes to the financial statements	13

Registered	name	The A M Stratford	Charitable
Charity registration	number	1045027
Principal office		22-26 King Street
		King's Lynn
		Norfolk
		King's Lynn
The trustees
		Mr J A Hazel
		Mrs SE M Kunes
		Mrs J D Chaplin
		Mr D L Stafford
		Mr P AJ Croker
		Miss M Kennedy
Clerk		Mrs C L Melton
Auditor		Mapus-Smith 8 Lemmon	LLP
		Chartered Accountants	8 Statutory	Auditor
		48 King Street
		King's Lynn
		Norfolk
		PE30 1HE
Bankers		Barclays Bank pic
		91-92 High Street
		King's Lynn
		Norfolk
		PE30 1BL
Solicitors		Kenneth Bush Solicitors
		11 New Conduit Street
		King's Lynn
		Norfolk
		PE30 1DG

						2021	2021	2020
						Unrestricted
						funds	Totalfunds	Totalfunds
					Note	6	6
Income and endowments
Incoming resources from	generating			funds:
Commercial trading operation						1,646,057	1,646,057	1,736,408
Investment income					6	60,000	60,000	78,617
Other income					7	50,086	50,086	95
Total Income						1,756,143	1,756,143	1,815,120
Expenditure
Expenditure on raising funds:
Commercial trading	operation					(1,607,493)	(1,607,493)	(1,669,871)
Investment management		costs			8	(29,438)	(29,438)	(20,883)
Expenditure on charitable	activities				9,10	(12,129)	(12,129)	(20,624)
Governance costs					9	(14,508)	(14,508)	(16,229)
Total expenditure						(1,663,568)	(1,663,568)	(1,727,607)
Net (losses)/gains on investments					11	133,125	133,125	(80,619)
Net Income and net movement			in	funds		225,700	225,700	6,894
Reconciliation offunds
Total funds brought forward						2,278,584	2,278,584	2,271,690
Total funds carried forward						2,504,284	2,504,284	2,278,584

				Group	Group	Charity	Charity
				2021	2020	2021	2020
			Note	F	6	6	F
Fixed assets
Tangible assets			15	226,019	243,155
Investments			16	1,577,806	1,446,685	1,877,623	1,746,502
				1,803,825	1,689,840	1,877,623	1,746,502
Current assets
Stock				336,300	317,603
Debtors			17	221 630	229 134	104,496	104,634
Cash at bank and	in	hand		516,179	440,193	256,902	248,857
				1,074,109	986,930	361,398	353,491
Creditors: amounts		falling due within one
year			18	301,288	304,997	20,858	13,461
Net current assets				772,821	681,933	340,540	340,030
Total assets less	current liabilities			2,576,646	2,371,773	2,218,163	2,086,532
Creditors: falling	due after more than one		year 19	6,878	26,043
Provision for liabilities			20	65,484	67,146
Net assets				2,504,284	2,278,584	2,218,163	2,086,532
Funds ofthe charity
Unrestricted funds				2,504,284	2,278,584	2,218,163	2,086,532
Total charity funds				2,504,284	2,278,584	2,218,163	2,086,532

	Year	ended 5April 2021
			2021	2020
Cash flows from operating	activities
Net income			225,700	6,894
Adjustments for:
Depreciation oftangible assets			30,036	29,807
Revaluation reserve
Net loss on disposal oftangible assets			95	171
Net gains on investments			(133,125)	80,619
Dividends, interest and rents from investments Other interest receivable and similar income Provision for deferred tax Tax on commercial profit			(59,907) (98) (1,662) 20,177	(78,137) (484) 15,530 4,387
Changes/n:
Stock			(18,697)	34,138
Trade and other debtors			7,504	57,433
Trade and other creditors			(30,106)	18,596
Cash generated from operations			39,917	168,954
Interest received			98	484
Tax Paid
Net cash used in operating	activities		40,015	169,438
Cash flows from investing	activities
Purchase oftangible assets Proceeds ofsale oftangible	assets		(12.995)	(27,479)
Dividends, interest and rents from investments			59,907	78,137
Purchases of other investments Proceeds from sale of other investments			(1,901) 3,905	(2,726) 4,890
Net cash (used in)/from investing activities			88,931	222,260
Cash flows from financing	activities
Borrowings repaid			(12,945)	(12,359)
Net cash used in financing	activities		(12,945)	(12,359)
Net (decrease)/increase in Cash and cash equivalents	cash and cash at beginning	equivalents ofyear	75,986 440,193	209,901 230,292
Cash and cash equivalents	at end ofyear		516,179	440,193

A summary below:-	of the financial acti	vities undertaken by th	e charity excluding its subsidia	ry is set out
			2021	2020
Gross incoming resources			47,185	65,712
Total expenditure on charitable		activities	(12,129)	(20,624)
Investment	management costs		(22,042)	(11,276)
Governance	costs		(14,508)	(16,229)
Investment	gain		133,125	(80,619)
Net movement incoming resources			131,631	(63,036)
Total funds	brought forward		2,086,532	2,149,568
Total funds	carried forward		2,218,163	2,086,532

A summary oft	he trading results	for the year to 31 Ja	nuary 2021 and 2020 is shown	below:-
				F
Turnover			1,646,057	1,736,408
Cost ofsales and administration		costs	(1,590,253)	(1,657,615)
Other income			65,030	25,500
Interest receivable			5	4
Interest payable			(3.932)	(4,526)
Taxation			(22,903)	(19,917)
Net profit/(loss)	after taxation		94,004	79,854
Revaluation reserve transfer				4,080
Retained in the	subsidiary		94,004
incoming Resources (continued)
			2021	2020
Fixed Assets			586,386	603,587
Current Assets			812,711	733,439
Current Liabilities			(280,430)	(291,536)
Long Term Liabilities			(122,745)	(143,572)
Net Assets			995,922	901,918

6.	Investment	income
					Unrestricted	Total Funds	Total Funds
					Funds	2021	2020
							E
	Income from	investment		properties	40,510	40,510	54,392
	Income from	listed investments			19,397	19,397	23,745
	Bank interest	receivable		Barclays bank
	pic				93	93	480
					60,000	60,000	78,617
7.	Other income
					Unrestricted	TotaIFunds		Total Funds
					Funds	2021		2020
						6
	Government	grant income			50,040	50,040
	Public Library	lending	royalties			46		95
					50,086	50,086		95

				Unrestricted	Total Funds	Total Funds
				Funds	2021	2020
				6
Porffolio	management			2,103	2,103	2,128
Property	management costs			9,205	9,205	10,016
Property	costs -	repairs and
maintenance				10,566	10,566	2,917
Property	costs -	Electricity		150	150
Property	costs -	Insurances		1,322	1,322	1,398
Property Property	costs - costs -	Council tax Bad debts written	off	61 4,594	61 4,594	(7) 2,770
Property	costs —Sundry			456	456	432
Property	costs -	Legal		445	445
Property	costs —Loan interest			536	536	1,145
				29,438	29,438	20,883

Expenditure on	charitable activitie	s by fund type
		Unrestricted	Total Funds	Total Funds
		Funds	2021	2020
			8
Grants/Donations	to institutions	12,129	12,129	20,624
Support costs		14,508	14,508	16,229
		26,637	26,637	36,853

10. Expenditure	on c	harit	ab	le	activ	ities by	activity type
							Activities
							undertaken		Total funds	Total fund
							directly	Support costs	2021	2020
								F	E	F
Grants/Donations		to institutions					12,129		12,129	20,624
Governance	costs							14,508	14,508	16,229
							12,129	14,508	26,637	36,853
10a.Expenditure	on charitable				activities
Grants/donations		to Institutions
Activities undertaken			directly						2021	2020
									E
Pandora Project										5,000
King's Lynn	Civic Society								129
King's Lynn	Festival								3,000
ACCESS									5,000
Friends ofSt. Nic										5,000
The North End Trust										2,624
King's Lynn	Preservation			Trust						4,000
Collusion									4,000	4,000
									12,129	20,624
Governance	costs
Governance	costs	—insurance							574	574
Governance	costs	—accountancy				fees			10,214	10,798
Governance	costs	—audit		fees					3,720	4,560
Governance	costs	—legal		and professional			fees			297
									14,508	16,229
Expenditure	on charitable				activities				26,637	36,853

11.	Net gains	on investments
					Unrestricted	Total Funds	Unrestricted	Total Funds
					Funds	2021	Funds	2020 f
	Unrealised	fair value adjustments		on
	investment	assets			133,121	133,121	(80,742)	(80,742)
	Realised	gains on investment	assets		4	4	123	123
					133,125	133,125	(80,619)	(80,619)
12.	Auditors	remuneration
							2021	2020
							F
	Fees payable for the audit of		the	financial	statements		14,720	15,560

Tangible Fixed Asset	s (Group only)
	Freehold	Plant &	Fixtures 8	Motor
	Property	Machinery	Fittings	Vehicles	Total
	8	F	8		6
Cost or valuation
At 6 April 2020	195,928	74,419	45,100	103,385	418,832
Additions		12,995			12,995
Disposals			(2,820)		(2,820)
Revaluations
At 5 April 2021	195,928	87,414	42,280	103,385	429,007

	Year end	ed 5April 202	1
Depreciation
At 6 April 2020	76,053	40,805	25,187	33,632	175,677
Charge for the year	3,919	5,692	2,986	17,439	30,036
Disposals			(2,725)		(2,725)
Transfers
At 5 April 2021	79,972	46,497	25,448	51,071	202,988
Net book value
At 5 April 2021	115,956	40,917	16,832	52,314	226,019
At 5 April 2020	119,875	33,614	19,913	69,753	243,155

Group		Cash or cash	Listed	Investment
		equivalents	investments	properties	Total
		F		F	F
Cost or valuation
At 6 April	2020	1,588	600,097	845,000	1,446,685
Additions		1,901			1,901
Transfers
Disposals		(2,004)	(1,897)		(3,901)
Fair value	movements		133,121		133,121
At 5April	2021	1,588	731,321	845,000	1,577,806
Carrying	amount
At 5April	2021	1,485	731,321	845,000	1,577,806
At 5 April	2020	1,588	600,997	845,000	1,446,685

The above carrying am	ounts are recognised a	s follows:
	Cash or cash	Listed	Investment
	equivalentsf	investments	properties F	Total
At 5April 2021
Held at fair value
	1,485	731,321	845,000	1,577,806
At 5 April 2020
Held at fair value
	1,588	600,097	845,000	1,446,685

~Chari
							Shares	in
		Cash or cash			Listed	Investment	group
			equivalents	investmentsf		properties f	undertakings		Total F
Cost or valuation
At 6 April	2020		1,588		600,097	485,000	659,817		1,746,502
Additions			1,901						1,901
Disposals			(2,004)		(1,897)				(3,901)
Fair value	movements				133,121				133,121
At 5April	2021		1,485		731,321	485,000	659,817		1,877,623
Carrying	amount
At 5 April	2021		1,485		731,321	485,000	659,817		1,877,623
At 5 April	2020		1,588		600,097	485,000	659,817		1,746,502
The above carrying		amounts	are recognised		as follows:
							Shares	in
		Cash or cash			Listed	Investment	glcup
			equivalents	investments f		properties	undertakings f		Total
At 5 April	2021
Held at fair value			1,485		731,321	485,000			1,217,806
Held at historical cost
less impairment							659,817		659,817
At 5 April	2020
Held at fair value			1,588		600,097	485,000			1,086,685
Held at historical cost
less impairment							659,817		659,817

Turnover				2021	2020
					f
				1,646,057	1,736,408
Profit				94,004	79,854
Aggregate	value of	assets	and liabilities	995,922	901,918
Registered	oflice:	22-26	King Street
		King's	Lynn
		Norfolk
		PE30 1HJ

Debtors
			Group	Group	Charity	Charity
			2021	2020	2021	2020
					E	E
Trade debtors			203,469	213,908
Amounts	owed by group undertakings				100,000	100,000
Deferred	Tax
Prepayments		and accrued income	1,171	1,114	1,171	1,114
Other debtors			16,990	14,112	3,325	3,520
			221,630	229,134	104,496	104,634

Creditors:	amounts falling due within o	ne year
		Group 2021	Group 2020	Charity 2021	Charity 2020
		E	E	6	F
Bank loans	and overdraRs	11,017	12,300
Trade creditors		168,201	206,469
Corporation	Tax	24,564	4,387
Other taxes	and social security costs	36,922	30,095
Other creditors		60,584	51,746	20,858	13,461
		301,288	304,997	20,858	13,461

19.	Creditors: A	mounts fa	lling due	after mo	re than one	year
					Group	Group	Charity	Charity
					2021	2020	2021	2020
						6
	Bank loans and overdrafts					11,662
	Other creditors				6,878	14,381
					6,878	26,043
20.	Provision for	liabilities
					Group 2021	Group 2020	Charity 2021f	Charity 2020
	Deferred taxation				65,484	67,146
					65,484	67,146
21.	Analysis ofcharitable		funds
	Unrestricted	funds
				At			Gains and	At
			6April	2020 f	Income F	Expenditure 6	losses	5April 2021
	General funds		2,086,532		47,185	(48,679)	133,125	2,218,163
				At			Gains and	At
			6 April	2019 f	Income	Expenditure F	losses 6	5 April 2020 6
	General funds		2,149,568		65,712	(48,129)	(80,619)	2,086,532

Analysis ofnet as	sets between funds
		Unrestricted	Total Funds
		Funds f	2021
Investments		1,877,623	1,877,623
Current Assets		361,398	361,398
Creditors less than	1 year	(20,858)	(20,858)
Net assets		2,218,163	2,218,163
		Unrestricted	Total Funds
		Funds	2020
		F
Investments		1,746,502	1,746,502
Current Assets		353,491	353,491
Creditors less than	1 year	(13,461)	(13,461)
Net assets		2,086,532	2,086,532

									2021	2020
									F
	Financial	assets	measured	at fair value	through			Income and expenditure
	Financial	assets measured		at fair value through			income		and
	expenditure								1,577,806	1,444,685
	Financial	assets	that are debt instruments			measured			at amortised cost
	Financial	assets that are debt instruments			measured			at	amortised
	cost								220,459	228,020
	Financial	liabilities measured at amortised				cost
	Financial	liabilities	measured	at amortised	cost				228,785	258,216
24.	Cash and	cash equivalents
									2021	2020
	Cash at bank and		in hand						516,179	440,193
	Bank overdraft
									516,179	440,193