##
|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)|