##
##
|Trustees||JW Green||
|---|---|---|---|
|||G M Couldrake||
|||D C Watson||
|||JJ Richardson||
|||P M Padley||
|||JCharlton-Jones||
|||AWoolf||
|||C Hardie||
|Secretary||HP Secretarial Services Limited||
|Charity number||1050157||
|Company|number|03114783||
|Registered|office|The Visitor Centre||
|||Stanwick Lakes||
|||Stanwick||
|||Wellingborough||
|||Northamptonshire||
|||United
Kingdom||
|||NN9 6GY||
|Auditor||Azets Audit Services||
|||Ruthlyn
House||
|||90 Lincoln Road||
|||Peterborough||
|||United Kingdom||
|||PE1 2SP||
|Bankers||National
Westminster|PLC|
|||9Market Place||
|||Oundle||
|||Peterborough||
|||United
Kingdom||
|||PE8 4BB||
|Solicitors||Howes Percival LLP||
|||Oxford House||
|||Cliftonville||
|||Northampton||
|||United Kingdom||
|||NN1 5PN||
##
##
|||||Page|
|---|---|---|---|---|
|Trustees'|report|||1-3|
|Statement|of|trustees'|responsibilities||
|Independent||auditor's|report|5-7|
|Statement|of|financial|activities|8-9|
|Consolidated||balance|sheet|8-9|
|Company|balance sheet|||to- tt|
|Statement|of|cash flows||14|
|Notes to|the|accounts||15-33|
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##
|||||||Unrestricted|Designated|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||funds|funds|funds|||
|||||||general|||||
|||||||2021|2021|2021|2021|2020|
||||||Notes|6||8|6|6|
|m
n|||||||||||
|Generated
funds||||||117,629||221,350|338,979|307,150|
|Charitable
activities||||||||34,722|34,722|48,758|
|Commercial
trading||operations||in|||||||
|trading
subsidiary||||||579,662|||579,662|817,680|
|Investments||||||540|||540|1,445|
|Other income||||||12,932|||12,932|3,756|
|Total income||||||710,763||256,072|966,835|1,178,789|
|~E*
dit|||||||||||
|Commercial
trading||operations||in|||||||
|trading
subsidiary|||||8|517,797|||517,797|758,413|
|Charitable
activities|||||9|94,415|2,712|177,434|274,561|380,598|
|Net interest on defined
benefit|||||||||||
|pension scheme||||||1,000|||1,000|2,000|
|Other|||||12|||2,551|2,551||
|Total resources|expended|||||613,212|2,712|179,985|795,909|1,141,011|
|Net incoming resources|||before||||||||
|transfers||||||97,551|(2,712)|76,087|170,926|37,778|
|Gross transfers|between||funds|||39,018|(25,480)|(13,538)|||
|Net income for|the yea rl||||||||||
|Net incoming
resources||||||136,569|(28,192)|62,549|170,926|37,778|
|Other recognised||gains|and|losses|||||||
|Actuarial
(loss)/gain||on defined|||||||||
|benefit pension schemes||||||(57,000)|||(57,000)|87,000|
|Net movement|in funds|||||79,569|(28,192)|62,549|113,926|124,778|
|Fund balances at 1 April|||2020|||166,984|217,412|2,484,437|2,868,833|2,744,055|
|Fund balances|at|31March 2021||||246,553|189,220|2,546,986|2,982,759|2,868,833|
##
##
|Prior financial|year||||Unrestricted|Designated|Restricted|Total|
|---|---|---|---|---|---|---|---|---|
||||||funds|funds|funds||
||||||general||||
||||||2020|2020|2020|2020|
|||||Notes|5|6|6||
|Income and endowments||from|||||||
|Generated
funds|||||1,725||305,425|307,150|
|Charitable
activities|||||||48,758|48,758|
|Commercial
trading
operations|||in trading||||||
|subsidiary|||||817,680|||817,680|
|Investments|||||1,445|||1,445|
|Other income|||||3,756|||3,756|
|Total income|||||824,606||354,183|1,178,789|
|su
d~xtt|||||||||
|Costs of raising|funds|||8|758,413|||758,413|
|Charitable
activities||||9|103,524|5,061|272,013|380,598|
|Net interest on|defined
benefit||pension scheme||2,000|||2,000|
|Total resources expended|||||863,937|5,061|272,013|1,141,011|
|Net incoming|resources|before transfers|||(39,331)|(5,061)|82,170|37,778|
|Gross transfers|between|funds||||1,426|(1,426)||
|Net income for the year/|||||||||
|Net incoming|resources||||(39,331)|(3,635)|80,744|37,778|
|Other recognised
gains||and|losses||||||
|Actuarial
(loss)/gain
on defined|||benefit pension||||||
|schemes|||||87,000|||87,000|
|Net movement|in funds||||47,669|(3,635)|80,744|124,778|
|Fund balances|at 1 April|2019|||119,315|221,047|2,403,693|2,744,055|
|Fund balances|at 31 March 2020||||166,984|217,412|2,484,437|2,868,833|
##
##
##
||||||2021||2020||
|---|---|---|---|---|---|---|---|---|
|||||Notes|6||6||
|Fixed assets|||||||||
|Tangible assets||||16||2,446,370||2,510,673|
|Current assets|||||||||
|Stocks||||18|5,141||12,066||
|Debtors||||19|61,653||25,466||
|Cash at bank and|in|hand|||637,948||428,564||
||||||704,742||466,096||
|Creditors: amounts||falling due within||20|||||
|one year|||||(78,353)||(86,294)||
|Net current assets||||||626,389||379,802|
|Total assets less|current liabilities|||||3,072,759||2,890,475|
|Creditors: amounts||falling due after||21|||||
|more than one year||||||||(3,642)|
|Defined benefit pension|||liability|27||(90,000)||(18,000)|
|Net assets||||||2,982,759||2,868,833|
|Income funds|||||||||
|Restricted
funds||||24||2,546,986||2,484,437|
|llQE8ttiih~fun|||||||||
|Designated
funds||||23|189,220||217,412||
|General
unrestricted||funds|||246,553||166,984||
|||||||435,773||384,396|
|||||||2,982,759||2,868,833|
##
##
##
##
##
##
##
||||||2021||2020||
|---|---|---|---|---|---|---|---|---|
|||||Notes|6||6||
|Fixed assets|||||||||
|Tangible assets||||16||2,446,370||2,510,673|
|Investments||||17||1||1|
|||||||2,446,371||2,510,674|
|Current assets|||||||||
|Debtors||||19|189,535||139,674||
|Cash at bank and in||hand|||462,338||274,319||
||||||651,873||413,993||
|Creditors:|amounts|falling due within||20|||||
|one year|||||(25,485)||(34,192)||
|Net current|assets|||||626,388||379,801|
|Total assets less current liabilities||||||3,072,759||2,890,475|
|Creditors:|amounts|falling due after||21|||||
|more than|one year|||||||(3,642)|
|Defined benefit pension|||liability|27||(90,000)||(18,000)|
|Net assets||||||2,982,759||2,868,833|
|Income funds|||||||||
|Restricted|funds|||24||2,546,986||2,484,437|
|~U|||||||||
|Designated|funds|||23|189,220||217,412||
|General unrestricted||funds|||246,553||166,984||
|||||||435,773||384,396|
|||||||2,982,759||2,868,833|
##
##
##
##
##
##
##
|||||2021||2020||
|---|---|---|---|---|---|---|---|
||||Notes|6||||
|Cash flows from operating||activities||||||
|Cash generated
from operations|||30||282,161||121,286|
|Investing|activities|||||||
|Purchase|oftangible
fixed assets|||(61,394)||(271,231)||
|Interest received||||540||1,445||
|Net cash|used in investing|activities|||(60,854)||(269,786)|
|Financing|activities|||||||
|Payment|ofobligations
under finance|||||||
|leases||||(11,923)||(11,923)||
|Net cash|used in financing|activities|||(11,923)||(11,923)|
|Net increase/(decrease)
in||cash and cash||||||
|equivalents|||||209,384||(160,423)|
|Cash and|cash equivalents|at beginning|ofyear||428,564||588,987|
|Cash and|cash equivalents|at end ofyear|||637,948||428,564|
##
##
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##
##
##
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##
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##
##
##
##
##
|||||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||||funds|funds|2021|2020|
||Donations|and gifts|||||||1,725|
||Grants receivable
for|||core activities||117,629|221,350|338,979|305,425|
|||||||117,629|221,350|338,979|307,150|
||For the year ended|||31March 2020||1,725|305,425||307,150|
|4|Commercial||trading|operations|in trading subsidiary|||||
|||||||||2021|2020|
|||||||||8|F|
||RF Trust Enterprises|||Limited||||579,662|817,680|
|5|Charitable||activities|||||||
|||||||||2021|2020|
|||||||||6|8|
||Performance||related|grants||||34,722|48,758|
||Settlers|||||||34,722|48,758|
|||||||||34,722|48,758|
##
##
|6|Investments|||||||
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
||||||||8|
||Interest receivable|||||540|1,445|
|7|Other income|||||||
|||||||2021|2020|
|||||||8|6|
||Other income|||||12,932|3,756|
|8|Costs ofraising funds|||||||
|||||||2021|2020|
|||||||f.||
||Commercial|trading|operations|in trading|subsidiary|517,797|758,413|
##
##
##
|||||2021|2020|
|---|---|---|---|---|---|
|||||F|5|
|Staff costs||||83,819|95,003|
|Depreciation|and impairment|||123,146|105,501|
|Project costs, equipment|||and materials|16,161|9,296|
|Printing
and|stationary|||363|1,386|
|Telephone
and postage||||774|794|
|Travel and subsistence||||841|776|
|Fundraising|and publicity|||606|518|
|Event costs|and venue hire||||1,825|
|Premises||||29,409|132,029|
|Training||||2,710|5,010|
|Consultancy|||||9,370|
|Subscriptions||||250|587|
|Sundries||||46|5,828|
|||||258,125|367,923|
|Share ofgovernance||costs (see note 11)||16,436|12,675|
|||||274,561|380,598|
|Analysis
by|fund|||||
|Unrestricted|funds - general|||94,415|103,524|
|Unrestricted|funds - designated|||2,712|5,061|
|Restricted funds||||177,434|272,013|
|||||274,561|380,598|
##
##
##
##
|||2021|2020|
|---|---|---|---|
|||6|6|
|Audit fees||9,858|9,250|
|Legal and|professional|6,578|3,425|
|||16,436|12,675|
|Analysed|between|||
|Charitable|activities|16,436|12,675|
##
||||||||Restricted|Total|Total|
|---|---|---|---|---|---|---|---|---|---|
||||||||funds|||
||||||||||6|
||||||||2021|2021|2020|
|Net|loss|on|disposal|oftangible|fixed|assets|2,551|2,551||
||||||||2,551|2,551||
##
##
|The analysis ofauditor'|s
re|mun|eration
is as follows;|||
|---|---|---|---|---|---|
|||||2021|2020|
|||||6|6|
|Audit ofthe company's|annual||accounts|7,033|6,500|
|Other services to the|group|||||
|-the audit ofthe company's||subsidiaries||2,825|2,750|
|Total audit fees||||9,858|9,250|
##
##
##
##
##
|Number ofemployee|Number ofemployee|s|||||
|---|---|---|---|---|---|---|
|The average
monthly||number|ofemployees|during the year was:|||
||||||2021|2020|
||||||Number|Number|
|Stat employed|||||26|35|
|Employment|costs||||2021|2020|
||||||E|f|
|Wages and salaries|||||362,057|413,935|
|Social security|costs||||14,186|17,242|
|Other pension|costs||||9,049|19,592|
||||||385,292|450,769|
|||||80|||||||||IA
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##
##
##
##
|Fixed asset|investments||||
|---|---|---|---|---|
|The Charity||Notes|2021f|2020
f.|
|Investments|in subsidiaries||||
##
|18|Stocks||||||||
|---|---|---|---|---|---|---|---|---|
|||||||The Group||The Charity|
||||||2021|2020|2021|2020|
||||||f|6|6|f.|
||Raw materials||and consumables||5,141|12,066|||
|19|Debtors||||||||
|||||||The Group||The Charity|
||||||2021|2020|2021|2020|
||Amounts|falling due within||one year:|6|6|6|6|
||Trade debtors||||1,318|9,891|||
||Amounts|due|from subsidiary|undertakings|||171,574|118,319|
||Other debtors||||8,796||4,761|9,906|
||Prepayments||and accrued income||51,539|15,575|13,200|11,449|
||||||61,653|25,466|189,535|139,674|
##
##
##
|20|Creditors|:|am|ounts|falling due within one year|||||
|---|---|---|---|---|---|---|---|---|---|
||||||||The Group||The Charity|
|||||||2021|2020|2021|2020|
||||||Notes||6|6|6|
||Obligations||under finance leases|||3,642|11,923|3,642|11,923|
||Other taxation|||and social security||7,341|6,700|7,341|6,622|
||Deferred|income|||22|31,537|24,307|||
||Trade creditors|||||25,406|21,162|6,976|5,325|
||Other creditors||||||2,892||2,892|
||Accru ala|||||10,427|19,310|7,526|7,430|
|||||||78,353|86,294|25,485|34,192|
|21|Creditors:||amounts||falling due after more than|one year||||
||||||||The Group||The Charity|
|||||||2021|2020|2021|2020|
|||||||5|5|5|5|
||Obligations||under finance|||||||
||leases||||||3,642||3,642|
|22|Deferred||income|||||||
||||||||The Group||The Charity|
|||||||2021|2020|2021|2020|
|||||||6|6|6|F|
||Other deferred|||income||31,537|24,307|||
|||||||31,537|24,307|||
||||The|Group||The|Charity|
|---|---|---|---|---|---|---|---|
|||2021
f||2020
6|2021
6||2020
6|
|Current|liabilities|31,537||24,307||||
|||31,537||24,307||||
##
##
##
||||Movement
in funds|Movement
in funds|||
|---|---|---|---|---|---|---|
|||Balance at 1|Incoming|Resources|Transfers|Balance at 31|
|||Apdil 2020|resources|expended||March 202'I|
|||5|5|F.|6||
|Stanwick development||2,482,137||(122,986)|75,868|2,435,019|
|Awards
for All||2,300|||(2,300)||
|Capital
contributions|||106,000||(37,094)|68,906|
|Communities
facilities funding|||3,000|(3,000)|||
|HLF Natureworks|||64,200|(19,499)|(1,640)|43,061|
|Settlers|||34,722|(34,500)|(222)||
|Flood prevention|||150||(150)||
|HLF emergency|funding||48,000||(48,000)||
|||2,484,437|256,072|(179,985)|(13,538)|2,546,986|
##
##
##
##
|25|Analysis|of net assets|between funds|between funds||||||
|---|---|---|---|---|---|---|---|---|---|
||||||Unrestricted||Designated|Restricted|Total|
|||||||6|6|6|6|
||Fund balances at 31 March 2021 are|||||||||
||represented
by:|||||||||
||Tangible|assets|||||7,220|2,439,150|2,446,370|
||Current|assets/(liabilities)||||336,553|182,000|107,836|626,389|
||Defined|benefit pension|liability|||(90,000)|||(90,000)|
||||||246,553||189,220|2,546,986|2,982,759|
|26|Capital|commitments||||||2021|2020|
|||||||||6|6|
||At 31 March 2021 the charity had capital commitments|||||as follows:||||
||Contracted
for but not provided|||in the financial|statements:|||||
||Acquisition
of property,||plant and equipment||||||8,180|
##
##
|Key assu|mption|s|||||
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||0/|0/|
|Discount|rate||||2|2.3|
|Expected|rate|of|increase ofpensions|in payment|2.85|1.9|
|Expected|rate|of|salary increases||3.35|2.4|
##
##
##
|||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Retirement
benefit|sc|emes|||||||||||(Continued)|
|Mortality
assumptions||||||||||||||
|The assumed
life expectations|||on retirement||||at age 65 are:|||||||
|||||||||||||2021|2020|
|||||||||||||Years|Years|
|Retiring today||||||||||||||
|- Males||||||||||||21.7|21.5|
|- Females||||||||||||22.8|23.7|
|Retiring
in 20 years||||||||||||||
|- Males||||||||||||24.1|22.3|
|-Females||||||||||||25.8|25.1|
|Amounts
recognised|in|the profit||and loss||account:||||||||
|||||||||||||2021|2020|
|||||||||||||6|6|
|Current
service cost||||||||||||25,000|33,000|
|Net interest on defined||benefit liability/(asset)|||||||||||2,000|
|Total costs||||||||||||25,000|35,000|
|Amounts
taken to other||recognised|||gains and losses|||||||||
|||||||||||||2021|2020|
||||||||||||||6|
|Actual return
on scheme assets||||||||||||(202,000)|64,000|
|Less: calculated
interest||element||||||||||18,000|20,000|
|Return
on scheme assets excluding|||||interest||income|||||(184,000)|84,000|
|Actuarial
changes
related to obligations||||||||||||241,000|(171,000)|
|Total costs/(income)||||||||||||57,000|(87,000)|
|The
amounts
included||in the||balance||sheet||arising|from|the|charity's|||
|obligations
in respect|ofdefined|||benefit plans|||are as follows:|||||||
|||||||||||||2021|2020|
||||||||||||||8|
|Present value ofdefined||benefit||obligations||||||||1,058,000|794,000|
|Fair value of plan assets||||||||||||(968,000)|(776,000)|
|Deficit in scheme||||||||||||90,000|18,000|
##
##
##
||||||||
|---|---|---|---|---|---|---|
|Retirement
benefit schemes||||||(Continued)|
|Movements
in the present value|ofdefined|benefit|obligations:||||
|||||||2021|
|Liabilities at 1 April 2020||||||794,000|
|Current service cost||||||25,000|
|Benefits paid||||||(25,000)|
|Contributions
from scheme members||||||5,000|
|Actuarial
gains and losses||||||241,000|
|Interest cost||||||18,000|
|At 31 March 2021||||||1,058,000|
|The defined
benefit obligations
arise from plans which are wholly||||unfunded.|||
|Movements
in the fair value of plan assets;|||||||
|||||||2021|
|Fair value ofassets at 1 April 2020||||||776,000|
|Interest income||||||18,000|
|Return on plan assets (excluding|amounts|included|in net interest)|||184,000|
|Benefits paid||||||(25,000)|
|Contributions
by the employer||||||10,000|
|Contributions
by scheme members||||||5,000|
|At 31 March 2021||||||968,000|
|The fair value of plan assets at the reporting||period|end was as follows:||||
||||||2021|2020|
||||||6|6|
|Equity instruments|||||648,560|504,400|
|Debt instruments|||||183,920|147,440|
|Property|||||116,160|108,640|
|Cash|||||19,360|15,520|
||||||968,000|776,000|
##
##
##
##
|||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|---|
|||||||||8|6|
||Within one year|||||||1,022|2,288|
||Between two and five years||||||||1,022|
|||||||||1,022|3,310|
|30|Cash generated
from operations|||||||2021|2020|
|||||||||6||
||Surplus
for the year|||||||170,926|37,778|
||Adjustments
for:|||||||||
||Investment
income recognised||in statement||offinancial|activities||(540)|(1,445)|
||Loss on disposal oftangible|fixed assets||||||2,551||
||Depreciation
and impairment|oftangible||fixed assets||||123,146|105,501|
||Difference between
pension|charge and||cash contributions||||15,000|1,000|
||Movements
in working
capital:|||||||||
||Decrease
in stocks|||||||6,925|6,575|
||(Increase)/decrease
in debtors|||||||(36,187)|53,279|
||(Decrease)
in creditors|||||||(6,890)|(63,282)|
||Increase/(decrease)
in deferred||income|||||7,230|(18,120)|
||Cash generated
from operations|||||||282,161|121,286|
|31|Analysis ofchanges
in net|funds||||||||
||||||||At 1 April 2020|Cash flowaAt $1 March 2021||
||||||||6|6|6|
||Cash at bank and
in hand||||||428,564|209,384|637,948|
||Obligations
under finance leases||||||(15,565)|11,923|(3,642)|
||||||||412,999|221,307|634,306|
##
##