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|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|to|9|
|Independent
Examiner's Report||10||
|Statement ofFinancial Activities||||
|Balance Sheet|12|to|13|
|Notes to the Financial Statements|14|to|28|
|Detailed Statemeat ofFinancial Activities|29|to|30|
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|25 Church Ro
Bishopstoke
Eastleigh
Hampshire
SO50 6BL|ad|||
|---|---|---|---|
|Trustees||||
|SCrotts|||Chairman|
|TG Howell|Appointed|12October 2020|Treasurer|
|RJStephens|Resigned|5 December 2020||
|A Thorburn|Deceased|4 August 2021||
|Dr RDrabu||||
|Dr C.B.V Schulz||||
|M. Hildyard||||
|S.Woolford||||
|L Simpson|Co-opted|12a August 2021||
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||||||||31.3.21|31.3.20|
|---|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Endowment|Total|Total|
|||||fund|fund|fund|funds|funds|
||||Notes||||||
|INCOME AND|||||||||
|ENDOWMENTS|FROM||||||||
|Donations
and legacies||||105,935|||105,935|260,030|
|Charitable
activities|||||||||
|charitable||||5,592|||59592|25,033|
|Other trading activities|||2|16,348|||16,348|49,382|
|Investment
income|||3|3||3733|8,733|17,314|
|Total||||127,87$||8,730|136,608|351,759|
|EXPENDITURE|ON||||||||
|Raising funds||||12,753|(326)|1,176|13,603|21,819|
|Charitable
activities|||||||||
|charitable||||350,086|79141|11,658|368,$$5|405,956|
|Total||||362,839|6,815|12,834|382,488|427,775|
|Net gains/(losses)|on||||||||
|investments||||724,673||10@99|735,072|(366,652)|
|NET|||||||||
|INCOME/(EXPENDITURE)||||489,712|(6,815)|6,295|489,192|(442,668)|
|RECONCILIATION||OF|||||||
|FUNDS|||||||||
|Total funds brought||forward||1,969,863|12488|306,692|2,288,943|2,731,611|
|TOTAL FUNDS|CARRIED||||||||
|FORWARD||||2459375|5573|3329S7|3778735|2283943|
##
|||||||31.3.21|31.3.20|
|---|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|Endowment||Total|Total|
|||fund|fund|fund||funds|funds|
||Notes|||5|||6|
|FIXEDASSETS||||||||
|Tangible assets
Investments|9
10|2,327,032||432,753
~I)8
4||432)753
2525 266|444,411
2,047,272|
|||24279032||630,987||2,958,019|2,491,683|
|CURRENT ASSETS||||||||
|Stocks|I 1|5,741||||5,741|5,741|
|Debtors|12|735024||||73,024|198.,540|
|Cash at bank||58859|5573|||64 432|41,947|
|||137,624|5,573|||143)197|246,228|
|CREDITORS||||||||
|Amounts
falling due within one||||||||
|year|13|(5,081)||||(5,081)|(7,968)|
|NET CURRENT ASSETS||132,543|~ 573|||138U6|238,260|
|TOTAL ASSETSLESS||||||||
|CURRENT LIABILITIES||2,459,575|5,573|630,987||3,096,135|2,729,943|
|PENSION LIABILITY|16|||(318,000)||(318,000)|(441,000)|
|NET ASSETS||2459575|5,573|312,987||1,778,135|233894),|
|FUNDS||||||||
|Unrestricted
funds||||||25459,575|1,969,863|
|Restricted funds||||||5,573|12,388|
|Endowment
funds||||||312,987|306,692|
|TOTALFUNDS||||||2'778,735|2,288,943|
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|OTHER TRADING ACTIVITIES|OTHER TRADING ACTIVITIES|||
|---|---|---|---|
|||31.3.21|31.3.20|
|||8|f,|
|Fundraising|events - branches|16,348|49,382|
|INVESTMENT INCOME||||
|||31.3.21|31.3.20|
|Other fixed|asset invest - FII|8,730|17,314|
|Deposit account interest||3||
|||8,733|17,314|
##
|4.|RAISING FUNDS|RAISING FUNDS||||
|---|---|---|---|---|---|
||Investment
management||costs|31.3.21|31.3.20|
|||||g||
||Portfolio management|||~1176|1,286|
|5.|SUPPORT COSTS|||||
|||||31.3.21|31.3.20|
||Staffcost|||70,256|70,185|
||Office equipment|cost||5,659|6,125|
||Insurance|||4461|3,860|
||Light and heat|||4,424|5,856|
||Telephone|||2,000|2,735|
||Postage and stationery|||3i460|6,424|
||Sundries|||1,186|51|
||Computer
expenses|||13,776|3,479|
||Premises expenses|||4,682|5,745|
||Subscriptions|||856|1,014|
||Cleaning|||3,664|3,486|
||Depreciation|||11,658|12,044|
||Trustees expenses|||113|491|
||Accountancy
fees|||4,740|6,000|
||Legal fees|||2,818|3,396|
|||||133,653|130,891|
||Raising donations|and legacies||6rl583|6,545|
||Charitable
activities|||~126970|124,346|
|||||133,653|130,891|
##
##
||||31.3.21|31.3.20|
|---|---|---|---|---|
|Depreciation
-|owned assets||11,658|12,044|
|Other operating|leases||5,659|6,125|
|Amounts
payable to independent||examiner|4,740|5,520|
##
|There were no Truste
31March 2020.|es' remuneration
or ot|her benefits for the year ended 31M|arch 2021 nor for t|he year end|
|---|---|---|---|---|
|Trustees' expenses|||31.3.21
f|31.3.20|
|Trustees' expenses|||113|491|
|STAFFCOSTS|||||
||||31.3.21|31.3.20|
|Wages and salaries|||244,$09|247,989|
|Social security|||19,164|18,997|
|Pension contributions|||1$,060|15,474|
||||282,033|282,460|
|The average monthly|number ofemployees|during the year was as follows:|||
||||31.3.21|31.3.20|
|Service delivery
and|outreach||8|8|
|Administration|||4|4|
||||12|12|
##
##
|TANGIBLE FIXEDASSETS|||||
|---|---|---|---|---|
|||Fixtures|||
||Freehold|and|Computer||
||property|fittings|equipment|Totals|
|COST|||||
|At I April 2020 and 31March 2021|581,083|~30 $95|53,205|665,183|
|DEPRECIATION|||||
|At 1 April 2020|137,$75|30,895|52,002|220,772|
|Charge for year|~10 455||1,203|11,65$|
|At 31March 2021|148,330|~30 895|53,205|232,430|
|NET BOOK VALUE|||||
|At 31March 2021|432,753|||~432753|
|At 31March 2020|443,20$|-|l,203|444,41 I|
##
||||31.3.21|31.3.20|
|---|---|---|---|---|
|Shares|||2,520,765|2,000,890|
|Cash investments|||4,501|46,382|
||||2,525,266|2,047,272|
|Additional|information|as follows:|||
|||||Listed|
|||||investments|
|||||f.|
|MARKET|VALUE||||
|At I April|2020|||2,000,890|
|Additions||||5,595|
|Disposals||||(847371)|
|Revaluations||||598,651|
|At 31March 2021||||2,520765|
|NET BOOK VALUE|||||
|At 31March 2021||||2,520765|
|At 31March 2020||||2,000.290|
##
##
||Investments|(neither listed nor unlisted)|were as follows;|||
|---|---|---|---|---|---|
|||||312.21|31.3.20|
||||||I|
||Cash account|||4,501|46,382|
|11.|STOCKS|||||
|||||31.3.21|31.3.20|
||||||8|
||Stocks|||5,741|5,741|
|12.|DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR|||||
|||||31,3.21|31.3.20|
|||||8|f.|
||Other debtors|||149|540|
||Prepayments|and accrued income||72,875|198,000|
|||||73,024|198,540|
|13.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|||||
|||||31.3.21|31.3.20|
||Trade creditors|||341|2,448|
||Accruals and|deferred income||4,740|5,520|
|||||5,081|7,968|
|14.|LEASING AGREEMENTS|||||
|Minimum
lease payments
under non-cancellable
operatin|g
leases fall due as follows:||
|---|---|---|
||31.3.21|31.3.20|
||8||
|Within one year|4)687||
|Between one and five years||9,373|
||4,687|9,373|
##
##
|MOVEMEN|T IN FUNDS|||||
|---|---|---|---|---|---|
|||||Net||
|||||movement|At|
||||At 1.4.20|in funds|31.3.21|
||||f.|||
|Unrestricted|funds|||||
|General fund|||1,969,863|489,712|2,459,575|
|Restricted funds||||||
|Restricted funds|||12488|(6,815)|5,573|
|Endowment|funds|||||
|Expendable|||306,692|6,295|312)987|
|TOTAL FUNDS|||228)2943|499,192|2,))8,139|
|Net movement|in funds, included|in the above are as follows:||||
|||Incoming|Resources|Gains and|Movement|
|||resources|expended|losses
I|in funds|
|Unrestricted|funds|||||
|General fund||127,878|(3629839)|724,673|489,712|
|Restricted
funds||||||
|Restricted funds|||(6,815)||(6,815)|
|Endowment|funds|||||
|Expendable||8,730|(12,834)|10,399|6,295|
|TOTALFUNDS||~136 608|~382 488)|735,072|~489 192|
##
##
|Comparatives|for moveme|nt
in funds|||||
|---|---|---|---|---|---|---|
||||||Net||
||||||movement|At|
|||||At 1.4.19|in funds|31.3,20|
|Unrestricted|funds||||||
|General fund||||2,349,195|(379,332)|1,969,863|
|Restricted funds|||||||
|Restricted funds||||11,077|1,311|12,388|
|Endowment|funds||||||
|Expendable||||371,339|(64,647)|306,692|
|TOTAL FUNDS||||2,731,6l 1|~442,668)|2,288,943|
|Comparative|net movement|in funds, included|in the above are as follows:||||
||||Incoming|Resources|Gains and|Movement|
||||resources|expended|losses|in funds|
|Unrestricted|funds||||||
|General fund|||306,498|(387,809)|(298,021)|(379,332)|
|Restricted
funds|||||||
|Restricted funds|||27,947|(26,636)||1,311|
|Endowtnent|funds||||||
|Expendable|||17,314|(13,330)|(68,631)|(64,647)|
|TOTAL FUNDS|||351,759|(427,775)|(366,652)|~442,668)|
##
##
||||Net||
|---|---|---|---|---|
||||movement|At|
|||At 1.4.19|in funds|31.3.21|
|Unrestricted|funds||||
|General fund||2,349,195|110,380|2,459,575|
|Restricted funds|||||
|Restricted funds||11,077|(5,504)|5,573|
|Endowment|funds||||
|Expendable||371,339|(58,352)|312,987|
|TOTAL FUNDS||2731,611|46,524|2,773135|
|A current yea
as follows:|r 12 months
and prior|year 12months
combined n|et movement
in f|unds, included
i|n the above ar|
|---|---|---|---|---|---|
|||Incoming|Resources|Gains and|Movement|
|||resources|expended|losses|in funds|
|Unrestricted|funds|||||
|General fund||434,376|(750,648)|426,652|110,380|
|Restricted
funds||||||
|Restricted funds||27,947|(33,451)||(5,504)|
|Endowment|fuads|||||
|Expendable||26,044|(26,164)|(58,232)|(58,352)|
|TOTAL FUNDS||488,367|(810,263)|368,420|46,524|
##
##
|||Defined|benefit|
|---|---|---|---|
|||pension|plans|
|||31.3.21|31.3.20|
|Present value offunded obligations||(1,868,000)|(1,745,000)|
|Fair value ofplan assets||1,550,000|1,304,000|
|||(318,000)|(441,000)|
|Present value ofunfunded|obligations|||
|Deficit||~3(0,000|(44(,DOO)|
|Net liability||(310,000)|(441.000)|
|||Defined|benefit|
|---|---|---|---|
|||pension|plans|
|||31.3.21|31.3.20|
|Current|service cost|8,000|9,000|
|Net interest trom net defined benefit||||
|asset/liability||39,000|9,000|
|Past service cost||||
|||47,000|~18 000|
|Actuarial|(gain)/loss|~136,000|38,000|
##
##
|Changes|in th|e present value ofthe defined benefit obligatio|n
are as follows:||
|---|---|---|---|---|
||||Defined|benefit|
||||pension|plans|
||||31.3.21|31.3.20|
|Opening|defined benefit obligation||1,745,000|1,803,000|
|Current|service cost||8,000|9,000|
|Contributions||by einployer|1,000|1,000|
|Interest|cost||39,000|42,000|
|Actuarial
Benefits|losses/(gains)
paid||153,000
178,0007|(31,000)
~79,000|
||||1,068,DOD|1,745,000|
|Changes
in th|e fair value|of|scheme assets are as follows:|||
|---|---|---|---|---|---|
|||||Defined|benefit|
|||||pension|plans|
|||||31.3.21
f|31.3.20|
|Opening fair|value ofscheme assets|||1,304,000|1,403,000|
|Interest income on assets||||29,000|33,000|
|Remeasurement
gains/losses|||on|||
|assets||||289,000|(69,000)|
|Contributions|by employer|||5,000|15,000|
|Contributions
Benefits paid|by scheme|participants||1,000
~70,000|1,000
(79,000)|
|||||1,550 0101|\,3114,00II|
|The amounts|recognised|in other recognised gains and losses are as follows:||||
|||||31.3.21|31.3.20|
|||||f||
##
##
|The major categor|ies ofschem|e assets as apercentage oftotal scheme assets are|as follows:||
|---|---|---|---|---|
||||Defined|benefit|
||||pension|plans|
||||31.3.21|31.3.20|
|Equities|||57.00'/o|52.70'/|
|Bonds|||17.30/o|21.80/o|
|Property|||6.10/o|7.30'/o|
|Cash|||1.40o/o|2.00%|
|Other|||18.20 /o|16.20%|
||||100.00'/o|16.|
|Principal actuarial|assumptions|at the Balance Sheet date (expressed as weighted|avemges):||
||||31.3.21|31.3.20|
|Discount rate|||2 10o/o|2.30'/o|
|Future salary increases|||3.70"/a|3 10%|
|Future pension increases|||2.70'/s|2.10'/o|
|RPI inflation rate|||3.30%|3.30'/o|
|CPI inflation rate|||2 70o/o|2.20/o|
|Pension accounts|revaluation|rate|2.70'/o|2.20'/o|
##
##
##
||||||Incoming|Resources|||
|---|---|---|---|---|---|---|---|---|
|||||1.04.20|resources|expended|Transfers|31.03.21|
|Gerald Micklem||||1,098||(359)||739|
|ACT Foundation||||1,383||(272)||1,111|
|HIWCF Family|Days|||1,900|534|(2,134)||300|
|HIWCF Portsmouth||Hub||530||(367)||163|
|Awards for All||||2,777||(2,777)|||
|Geographically|restricted||funds|108||(108)|||
|Eastleigh Mayor||||3,006||(601)||2,405|
|The Scale Trust Fund
Portchester
Club
Cycling||||682
500
405||(682)
(25)
~767||475
380|
|||||11,077|27,947|~26,6967||5,573|
##
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##
|||31.3.21|31.3.20|
|---|---|---|---|
|INCOME AND ENDOWMENTS||||
|Donations
and legacies||||
|Donations||7,604|9,917|
|Legacies||78,832|201,358|
|Grants||10,886|4,829|
|Trust fund income||8,613|43,926|
|||105,935|260,030|
|Other trading activities||||
|Fundraising
events - branches||16,348|49,382|
|Investment
income||||
|Other fixed asset invest - FII||8,730|17,314|
|Deposit account interest||3||
|||8,733|17,314|
|Charitable
activities||||
|Resource centre||2,797|12,119|
|Outreach
income and shows||2,498|11,682|
|Service contracts||297|1,232|
|||5,592|25,033|
|Total incoming
resources||136,608|351,759|
|EXPENDITURE||||
|Raising donations
and legacies||||
|Direct fundraising
costs||11,404|18,149|
|Other activities||1,023|2,384|
|||12,427|20,533|
|Investment
management|costs|||
|Portfolio management||1,176|1,286|
|Charitable
activities||||
|Wages||203416|203,801|
|Resource centre||1,344|7,912|
|Second sight magazine||5,699|5,376|
|Carried forward||210,359|217,089|
##
|||31.3.21|31.3.20|
|---|---|---|---|
|Charitable
activities||||
|Brought forward||210459|217,089|
|Conferences|||3,422|
|Branch expenditure||69426|32,346|
|Other charitable
activities||18,447|22,208|
|||235,232|275,065|
|Support costs||||
|Management||||
|Wages||70,256|70,185|
|Office equipment
costs||5,659|6,125|
|Insurance||4,361|3,860|
|Light and heat||4,424|5,856|
|Telephone||2,000|2,735|
|Postage and stationery||3,460|6,424|
|Sundries||1,186|51|
|Computer
expenses
Premises expenses||13,776
4,682|3,479
5,745|
|Subscriptions||856|1,014|
|Cleaning||3,664|3,486|
|Freehold property
Computer
equipment||10,455
~1203|10,455
1,589|
|||125,982|121,004|
|Governaace
costs||||
|Trustees' expenses||113|491|
|Accountancy
fees||4,740|6,000|
|Legal fees||2,818|3,396|
|||7,671|9,887|
|Total resources expended||~382 488|427,775|
|Net expenditure
before gains and losses||(245,880)|(76,016)|
|Realised recognised|gains and losses|||
|Realised gains/(losses)|on fixed asset investments|599,072|(328,652)|
|Realised gains/losses|on pensions|136&000|(38,000)|
|Net income/(expenditure)||~489 192|L442, 666688)|