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2021-03-31-accounts

OBJECTIVES AND ACTIVITIES
Objectives and aims
The Charity's
object and
principal
acevity
relate to any		 «hareable
purpose
for		 the general benefit of the inhabitants of the parishes situated in
whole or in part within
a live mile radius o(the		 Church ofStJohn the Baptist,
Midsomer		 Norton, Bedstock as che Trustees think fit including but
not limited to the following:.
~ to support the charimble
work of hospitals
and		 league o(friends ofsuch hospitals in the Trust Parishes.
-to further
the education
ofthe inhabimnts
of		 the Trust Parishes
and
in		 pardcular the educadon (including social and physical training) of children
and young persons
abending
schools or colleges		 offurther education
in the		 Trust Parishes.
~ to assisc the establishment
of village
halls,		 recreation grounds,
charlmble
sports
grounds		 and playing Belds In the Trust Parishes and in the
interests of social welfare to provide
or assist		 in the provision
of facilities for other forms		 of recreation and other leisure time occupation wich
the object of improving
the condiuon oflife lor the inhabitants
o(the Trusc		 Parishes.
- m further
the
religious
or other
charitable		 work of the Anglican
Churches		 in the Trust Parishes including the supporc of the ministry and
assisting
in the establishmenc
ofchurch halls.
Significant fundraising
activities
The charity
did not undertake
any
sgnificant		 fundresing
acdvides
during
the		 year.
Ag		 incoming resources therefore derived fram current
operations
and investments,
Public benefit
The uustees are satisfied that the charity gives due regard to the guidance on public benefit in canying out its activities.
Volunteers
The charity does not rely heavily on volunteers other that the work ofthe trustees and management committee which is fully voluntary.
ACHIEVEMENT AND PEIIFORMANCE
Charitable
activities
The main areas ofthe chmitable
activiees
is		 to use the income generated from the provision of housing and other residential accommodation to
support local causes to improve the life ofthe inhabitant ofthe Trust Parishes.
The charity
has generated
income
from
d e 35 residential
dwellings
during
the year, from		 which it has awarded 6122308 to support local causes
to the inhabitants
ofthe Trust Parishes.
The net increase
in funds
amounted
to 6758.863. 6887rH3
represents		 increases fram Restricted Fund movements.
This		 increase was due to
increasing
velum ofproperties
and investments.
The Net Outgoing
Resources of Unrestnaed		 Funds before transfers
amounted to		 6128580 and General Funds now stands at 668 516.
Invmtment
performance
The trustees are currently
sadisfied
with the		 invesunent performance
of		 the assets and at present do not have any plans to expend its portfolio or
feel it necessary to dispose ofthose currently in use.
Internal
and external factors
The trustees
have made
a full assessment
of the
internal
and external		 femora that may affect these gnancial statemems and do not deem any
femora material
enough to have an impacc
FINANCIAL
REVIEYY
Principal funding sources
The charity
generates
most of its funds
from		 rents
received
from the		 35 residential dweigngs. Ic generates the remamder of its funds from
investment
income, the captml element ofwhich		 was generated
some years		 ago fram the sale of land m a local developer.

for eY r En Merc 2021
31.321 31.3.20
Unrestricted hestricmd Toml Total
funds funds funds funds
as resmted
INCOME ANO ENDOWMENTS FROM
Investment income 269,85 I 269.851 261,615
EXPENDITURE ON
Charitable activities
Awards to institutions 98.580 98,580 89,248
Awards to individuals 23,728 23,728 29,866
Other 5 276,123 276,123 312,184
Total 398.431 398.431 431,298
Net gains on mvestments 887,443 8877M3 71,859
NET INCONEI(EXPENDITURE) (128,580) 887,443 758,863 (97.824)
Transfers between funds 13 112,559 (112.559)
Net movement
in funds		 (16,021) 774,884 758,863 (97,824)
RECONCILIATION OF FUNDS
Total funds brought forward 84437 6,365,456 6,449.993 6,547,817
TOTAL FUNDS CARRIED FORWARD 68,516 7,140,340 7,208,856 67M9,993

Balance Sheet
31 March 2021
31.3.21 31,3.20
Unrestricted Restricted Total Tool
fimds funds funds funds
m restated
Notes 6
FIXEDASSETS
Invesmnents
Investments 9 763,720 763,720 836,458
Investment
property		 10 6.365,000 6,365,000 5,515,182
7,128.720 7,128,720 6,351,640
CURRENT ASSETS
Debtors 15,115 15,115 14,031
Cash at bank 99,303 11,620 110,923 111,322
114,418 11.620 126,038 125,353
CREDITORS
Amounts
falling due wihhin one year		 12 (45,902) (45,902) (27,000)
NET CURRENT ASSETS 68,516 11,620 80,136 98,353
TOTAL ASSETS LESSCURRENT LIABILITIES 68,516 7,140,340 7,208,856 6,449,993
NET ASSETS 68,516 7, 140,340 7,208,856 6,449,993
FUNDS 13
Unrestricted
funds		 68,516 84,537
Restricted
funds'.
land 8Buildings 3.034.186 '2.833,297
Pair Value Reserve 3,330,814 2,681,885
Investmenm 763,720 836.458
Deposit account 11,620 13,816
7.140340 6365,456
TOTAL FUNDS 7.208,856 6,449,993

CHAltlTABLE ACTIVITIES COSTS
Grant
funding of
acuvltles
(sse note
4)
6
Awards to Institutions 98.580
Awards to individuals 23,728
122,308
4. GRANTS PAYABLE
31.3.21 31.3.20
as resutted
6 6
Awards to institudons 98,580 89,248
Awards to Individuals 23.728 29,866
122,308 119,114
OTHER
31.3.21 31.3.20
as rescued
E E
Property
repairs 8		 renewals 197,248 232,852
Insurance
Legal 6 professional		 costs 8,184
58,256		 7,477
64.755
Other mtpenses 5.295 4,220
Accountancy 2,940 1.980
Independent
examiners		 fees 900
Auditors'
remuneration
276.123 312,184

~Ral3LR~ra S~rr88 CJIS ~Ral3LR~ra S~rr88 CJIS Dgg
Not to the Financial Statements -cnntinued
r the Y rEnded 31 March 2821
COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
as reuated
6
INCOME AND ENDOWMENTS FROM
Investment
income		 261,615 261,615
EXPENDITURE ON
Charitable
activities
Awards to institutions 89,248 89,248
Awards to individuals 29,866 29,866
Other 312,184 312,184
Total 431,298 431,298
Net gains on investments 71,859 71.859
NET INCOMEl(EXPENDITURE) (169,683) 71,859 (97,824)
Transfers between funds 150.778 (150,778)
Net movement
in funds		 (18.905) (78,919) (97,824)
RECONCILIATION OF FUNDS
Total funds brought forward 103,442 64I4,375 6,5'17,817
TOTAL FUNDS CARRIED FORWARD 84,537 6.365.456 6,449,993
PRIOR YEAR ADJUSTMENT

FAIR VALUE FAIR VALUE
At
I April 2020		 5,515.182
Additions 200.889
Revaluation &l8,929
At 31 March 2021 6,365.000
NET BOOKVALUE
At 31 March 2021 6,365,000
At 31 March 2020 5,515,182
The pmperdes are valued at open market value. based on professional vafuations by Sam Chivers Estate Agents as st August 2019. and
asat May 2021 for properties that were upgmded in the interim period.
DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.21 31.3.20
as restated
E
Trade debtors 15,115 14,031
12. CREDITORSt AMOUNTS FALLING DUE WITHIN ONE YEAR
3f.3.21 31.3.20
as restated
E E
Trade creditors 21,468
Deferred awards 17,000 27,000
Accrued expenses 7,434
45,902 27,000
13, NOYEHENT IN FUNDS
Net Transfers
movement between At
At 1.4.20 in funds funds 31.3.21
E E E E
Unrestricted funds
General fund 84.537 (128,580) 112,559 68,516
Restricted
funds
land 8 Buildinp 2,833.297 200,889 3,034,186
Fair Value Reserve 2.681,885 6415929 3,330,814
Invesunents 836,458 238,514 (311,252) 763,720
Deposit acmunt 13.816 (2,19&) 11,620
6,365,456 887,443 (112,559) 7,140,340
TOTALFUNDS 6,449,993 758,863 7,20R856

Nst movement in funds, induded in funds, induded in the above are as follows
incoming Resources Gains and Movement
resources expended lossm in funds
E E
Unrestricted funds
General
fund		 269,851 (398A31) (12IL580)
Restricmd funds
Fair Value Reserve 648,929 648.929
Investments 238,514 238,514
887,443 887,443
TOTAL FUNDS 269.851 (398,431) 758,8Q
Comparatives fnr movement In funds
Net Transfers
movement beovsen At
At 1.4.19 in funds funds 31.3.20
E E E
Unrestricted funds
General
fund		 103,442 (169,683) 150.778 84,537
Restricted funds
Land It Buildings 2,833,297 2,!93,297
Fair Value Reserve 2,521.258 160,627 2,681,885
Investments 1,048,517 (88,768) (123.291) 836,458
Depout account 41,303 (27,487) 13,816
6.444,375 71.859 (150,778) 6,365,456
TOTAL FUNDS 6,547,817 (97,824) 6,449.993
Comparadve
net movement		 in funds, induded In the above are as fogows:
Inmming Resources Gains and Movement
resourcm expended losses in funds
E E E E
Unrestricted funds
General
fund		 261,615 (431.298) (169,683)
Restricted funds
Fair Value Reserve 160,627 160,627
Irwesiments (88,768) (88.768)
71,859 71,859
TOTAL FUNDS 261,615 (431A98) 71.859 (97,824)

A current year 12months and prior year 12 months combined positlan
is as		 follows:
Net Transfers
mavement between
At 1.4.19 in funds funds 31.3.21
6 6
Unrestricted funds
General
fund		 103,442 (298,2fi3 ) 263,337 68,516
Restricted funds
land 8 Buildings 2,833,297 200,889 3,02E186
Fair Value Reserve 2,521,258 809.556 3,330,814
Invesnnents 1,048,517 149,746 (434,543) 763,720
Deposit account 41,303 (29,683) 11.620
6.444,375 959,302 (263,337) 7,140,340
TOTAL FUNDS 6,547.817 661,039 7.208.856
Acurrent year 12months and prier year 12months combined net movement in funda, included In the abave are as fogows:
Incoming Resources Gains and Movement
resources expended losses in funds
6 f.
Unrestricted funds
General
fund		 531,466 (829.729) (298,263)
Restricted funds
Fdir Value Reserve 809,556 809,55(i
Invewments 149,746 149.746
959,302 959,302
TOTALFUNDS 531,466 (829.729) 959,302 661,039

forthe Y rEnd I M h2 21
313.21 31.320
atrestated
6
INCONE AND ENDOWMENTS
Investment
Income
Remal income 251,995 235.219
Other income and interest 17,856 26.396
269,851 261.615
Total incoming resources 269,851 261,615
EXPENDITURE
Charitable
acdvltles
Grants to insdtutions 98,580 89,MI
Grants to individuals 23,728 29,866
122,308 119,114
Other
Itoperty repairs!I renewal ~ 197,248 232,852
Insurance
Legal8professional
cosm		 8,184
58,256		 7,477
64,755
Other expenses 5,295 4,220
Accountancy 2,940 1,980
Independenc
examinms		 fees 900
Auditors'
remuneration
276,123 312.184
Toed remurces
expended		 398A31 431,298
Net expenditure
before gains and lames		 (12IL580) (169,683)
Eealhed recognised gains and losses
Realised gains/(losses) on lixed asset investments 238,514 (88,768)
Realised gains/(losses) on invmtmcnt property 648,929 160.627
Net lncomei(expemgture) 758,863 (97.824)