**Charity Number: 1059668 Company Number: 3206048**
## **BRACKEN TRUST LIMITED**
**ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021**
**BRACKEN TRUST LIMITED**
## **ANNUAL REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2021**
## **CONTENTS**
|Page||
|---|---|
|1|Legal and Administrative Information|
|2 - 3|Report of the Trustees|
|4|Independent Examiner’s Report|
|5|Statement of Financial Activities|
||(including Income and Expenditure Account)|
|6|Balance Sheet|
|7 - 15|Notes to the Financial Statements|
**BRACKEN TRUST LIMITED LEGAL AND ADMINISTRATIVE INFORMATION**
|**TRUSTEES:**|R Cawthorne (Chairman**)**|R Cawthorne (Chairman**)**|
|---|---|---|
||Dr S Ovis||
||Mrs M Ellis||
||Mrs S Parsons (retired 6 July 2021)||
||Dr S Warrick||
||B Hicks||
||G E Jones||
||M L Thorn||
|**REGISTERED OFFICE:**|The Bracken Trust||
||Cefnllys Lane||
||Llandrindod Wells||
||Powys||
||LD1 5LJ||
|**REGISTERED COMPANY NUMBER:**|3206048||
|**REGISTERED CHARITY NUMBER:**|1059668||
|**INDEPENDENT EXAMINER:**|A C Jones||
||Andrew Jones & Co||
||Chartered Accountants||
||The Old Surgery||
||Spa Road||
||Llandrindod Wells||
||Powys||
||LD1 5EY||
|**SOLICITORS:**|Margraves||
||Solicitors||
||Old Court Chambers||
||Spa Road||
||Llandrindod Wells||
||Powys||
||LD1 5EY||
|**BANK:**|HSBC Bank plc||
||Middleton Street||
||Llandrindod Wells||
||Powys||
||LD1 5EU||
|**STAFF TEAM:**|Ann Williams|Chief Executive|
||Helen Davies|Senior Nurse|
||Kate Walker|Nurse|
||Marion Baker|Nurse|
||Janice Vincent|Nurse|
||Sarah Davies|Therapist|
||Mandy Lawrence|Finance Manager|
||Gaynor James|Fund Raiser / Administrator|
||Amanda Blakeley|Receptionist / Administrator|
||Hazel Morgan|Receptionist / Administrator|
1
## **BRACKEN TRUST LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
The Trustees present their annual report with the Financial Statements of the company for the year ended 31 March 2021.
The Financial Statements comply with the Charities Act 2011, the Companies Act 2006, the memorandum and Articles of Association, Accounting and reporting by Charities: Statement of recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).
## **OUR PURPOSES AND ACTIVITIES**
The Bracken Trust Limited is governed by its Memorandum and Articles of Association. This states the main object of the company is that of the relief of persons suffering from long-term or terminal illness and in particular by:
- 1 a) The provision of palliative care, b) The provision of advice, support and counselling service for them and their families and carers, and
- 2 The relief of sickness arising from bereavement by the provision of an advice and counselling service.
The company is limited by guarantee and does not have a share capital. Each Trustee is also a member of the company and as such is liable, on the company being wound up, to contribute such a sum as may be required not exceeding £1.00.
## **PUBLIC BENEFIT STATEMENT**
The Trust has complied with its duty as a charity and has throughout the year publicised the information and support that is available to patients, their carers and the bereaved.
This publicity has taken on various forms including our website, newsletters, articles and publicity in the local newspapers and on television, as well as public information and open days.
## **FINANCIAL REVIEW**
Total Income in the year was £306,031 compared to £308,252 in 2020. Expenditure decreased in the year to £244,288 compared to £288,768 in 2020.
Net Income for the year was £61,743 compared to £19,484 for the previous year. The net movement in funds were net income for Unrestricted Funds of £377,099 (2020 Net income - £22,035) and net expenditure for restricted Funds of £315,356 (2020 Net expenditure - £2,551). A detailed breakdown of Income and Expenditure is provided in the notes to the Financial statements.
## _Principal Funding Sources:_
Details of principal funding sources in the year are provided in note 2 on page 9 of the Financial statements.
## _Reserves Policy_
The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets, or held in designated funds, (‘the free reserves’) held by the Charity should be approximately twelve months of budgeted expenditure not funded by The National Lottery Community Fund which is estimated at approximately £180,000 (2020 - £180,000). At this level the Trustees feel they would be able to continue the current activities of the Charity and the actual free reserves at 31 March 2021 increased to £127,201 (2020 - £97,634).
## **PLANS FOR THE FUTURE**
The Charity continues to seek funding for future years and to sustain and enhance the current provision at The Trust for the benefit of patients.
The Charity has secured a loan and grants from the WCVA to enable it to purchase a shop in a prime position in Llandrindod Wells thus enabling it to have a charity shop open all year (3 days per week) instead of renting one for four weeks of the year. The building also has a flat within which will be let out to provide an additional source of income.
The existence of the charity shop will provide an income for The Charity, provide it with a base in the town centre and bring together our community of volunteers.
It was anticipated that the purchase of the shop would take place on 31st March 2021, but in the event, the purchase was finalised on the 1st April 2021.
The Charity is looking to work with its Public Sector partners, to further extend its services by providing an extension to its existing building at Cefnllys Lane.
Whilst working within the Covid-19 regulations for healthcare establishments, The Charity will reopen its hubs in Knighton, Llanidloes and Llanwrtyd Wells extending its services into these communities and enhancing the support available to patients, their carers, families and the bereaved.
2
**BRACKEN TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
## **ACHIEVEMENTS AND PERFORMANCE**
The Charity relies on voluntary help, the value of which cannot be quantified, legacies, donations, fund-raising income, and grants to fund its activities at The Bracken Trust, Cefnllys Lane, Llandrindod Wells, Powys, used by the company as a Cancer Support Centre.
With the sustained publicity, the Charity continues to increase the number of patients and membership, even in a year dominated by Covid-19.
Covid-19 has had a considerable impact on The Charity over the year. It has had to develop new ways of supporting its patients, with greater emphasis on telephone and support via Zoom and Teams. This support has been much appreciated by patients especially during the lockdown periods.
During non-lockdown periods, patients were invited into The Charity to meet Nurses, Counsellors and Therapists in a controlled and safe environment.
There has been little opportunity for any fundraising events during the year, but The Charity has been successful in attracting grants which have sustained it during this challenging time.
## **LEGAL AND ADMINISTRATION**
Legal and administration details are given on page 1.
## **GOVERNING DOCUMENT**
Bracken Trust Limited is a company limited by guarantee and a registered Charity governed by its Memorandum and Articles of Association. Under those Articles, one third of trustees are elected annually by the members of the Charitable Company attending the Annual General Meeting, or if their number is not three or a multiple of three, the number nearest to one third shall retire from office.
## **ORGANISATION**
The business of the Charity shall be managed by the trustees with the assistance of the Chief Executive and Senior Nurse appointed by the Trustees who manage the day-to-day operations of the Charity.
## **RISK REVIEW**
The Trustees have conducted their own review of the major risks to which the Charity is exposed and systems have been established to mitigate those risks. These procedures are periodically reviewed to ensure they still meet the needs of the Charity.
## **TRUSTEES’ RESPONSIBILITIES**
The Trustees, (who are also directors of Bracken Trust Limited for the purposes of company law) are responsible for preparing the Trustees’ Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare Financial Statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these Financial Statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the Financial Statements.
- prepare the Financial Statements on the going concern basis unless it is inappropriate to presume that the company will continue in business
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the Financial Statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Report of the Trustees has been prepared in accordance with the Statement of Recommended Practice - Accounting and Reporting by Charities (SORP 2015) and in accordance with special provisions of Part 15 to the Companies Act 2006 relating to small companies.
Approved by the Trustees on 9 September 2021 and signed on their behalf by:
R Cawthorne Chairman
3
**BRACKEN TRUST LIMITED**
**INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF BRACKEN TRUST LIMITED**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
## **Responsibilities and basis of report**
As the trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company’s accounts carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner’s statement**
The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the ICAEW (the Institute of Chartered Accountants in England and Wales).
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me reasonable cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; and
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters to which your attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
A C Jones BSc (Econ) FCA Andrew Jones & Co Chartered Accountants The Old surgery Spa Road Llandrindod Wells Powys LD1 5EY
17 September 2021
4
**BRACKEN TRUST LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021**
|||||**Total**|**Total**|
|---|---|---|---|---|---|
|||||**Funds**|**Funds**|
|||**Unrestricted**|**Restricted**|**Year Ended**|**Year Ended**|
||**Note**|**Funds**|**Funds**|**31/03/2021**|**31/03/2020**|
|||**£**|**£**|**£**|**£**|
|**INCOME**||||||
|Donations and Legacies||85,338|-|85,338|124,344|
|Charitable Activities||1,000|190,271|191,271|118,935|
|Other Trading Activities||28,936|-|28,936|64,346|
|Investment Income||486|-|486|627|
|||__________|__________|__________|__________|
|**TOTAL INCOME**|2|115,760|190,271|306,031|308,252|
|||__________|__________|__________|__________|
|**EXPENDITURE**||||||
|Costs of Raising Funds||519|-|519|6,732|
|Charitable Activities||131,168|112,601|243,769|282,036|
|||__________|__________|__________|__________|
|**TOTAL EXPENDITURE**|3|131,687|112,601|244,288|288,768|
|||__________|__________|__________|__________|
|**NET INCOME/(EXPENDITURE)**||||||
|**BEFORE TRANSFERS**||(15,927)|77,670|61,743|19,484|
|Transfer between Funds|6|393,026|(393,026)|-|-|
|||__________|__________|__________|__________|
|**NET INCOME/(EXPENDITURE) AND NET**||377,099|(315,356)|61,743|19,484|
|**MOVEMENT IN FUNDS FOR THE YEAR**||||||
|Total Funds brought forward||208,965|537,999|746,964|727,480|
|||__________|__________|__________|__________|
|Total Funds carried forward||586,064|222,643|808,707|746,964|
|||__________|__________|__________|__________|
The statement of financial activities includes all gains and losses recognised in the year.
All incoming resources and resources expended derive from continuing activities.
The notes on pages 7 to 15 form an integral part of these Financial Statements.
5
## **BRACKEN TRUST LIMITED**
## **BALANCE SHEET AT 31 MARCH 2021**
|**Note**
**FIXED ASSETS**
Tangible Assets
8
**CURRENT ASSETS**
Stock
9
Debtors
10
Cash at Bank and In Hand
11
**LIABILITIES**
Creditors falling due within one year
12
**NET ASSETS**
15
**THE FUNDS OF THE CHARITY**
Unrestricted Income Funds:
General Funds
Designated Funds
13
Restricted Funds
14
**TOTAL FUNDS**
15|**£**
**£**
**£**
**£**
539,895
541,374
1,000
1,000
8,217
25,420
290,966
187,113
300,183
213,533
(31,371)
(7,943)
268,812
205,590
808,707
746,964
501,873
124,774
84,191
84,191
586,064
208,965
222,643
537,999
808,707
746,964
**2021**
**2020**|
|---|---|
||501,873
84,191|
|||
For the year in question, the charitable company was entitled to exemption from an audit under section 477 of the Companies Act 2006.
The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act.
The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of the accounts.
Approved by the Trustees on 9 September 2021 and signed on their behalf by:
R Cawthorne Chairman
The notes on pages 7 to 15 form an integral part of these Financial Statements
6
**BRACKEN TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## 1 **ACCOUNTING POLICIES**
## **Basis of Preparation**
The Financial Statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006. The charity is not required to prepare a Statement of Cash Flows.
The charity constitutes a public benefit entity as defined by FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
## **Preparation of Accounts on a Going Concern Basis**
The Trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.
## **Exemption from Preparing a Cash Flow Statement**
The charity opted to adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements **.**
## **Income**
Income including capital grants for the purchase of fixed assets are included in full in the Statement of Financial Activities when these are receivable.
Income represents amounts receivable in the year for income for donations, grants, therapy receipt donations, fund-raising, subscriptions including life memberships and interest received.
Incoming resources in the form of donated assets have been included in the Income and Expenditure Account at a reasonable estimate of their value and capitalised where appropriate
## **Expenditure**
Expenditure is accounted for on an accruals basis inclusive of VAT which cannot be recovered. Expenditure is directly attributable to specific activities and has been included in cost categories of costs of generating funds, charitable expenditure provision of hospice and governance of the Charity. Where costs cannot be directly attributed to these categories in respect of administration expenses and depreciation of office and computer equipment, it is estimated based on activity levels that 90% of these costs are attributable to Charitable Activities and 10% to Governance.
## **Tangible Fixed Assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Furniture, Fixtures and Equipment - restricted 10% on cost - unrestricted 10% on written down value Office and Computer Equipment 33.33% on Cost
The residual value of Freehold Property is considered to be at least equal to the carrying value of in the Financial Statements and therefore no depreciation has been provided on the buildings as this would be immaterial. The Freehold Property, The Bracken Trust, was revalued at 31 March 2016 and this valuation has been adopted as the deemed cost of the property in applying the provisions of Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).
## **Voluntary Help and Gifts in Kind**
No value has been put on the voluntary help received during the year. There are also numerous small gifts that cannot be quantified.
## **Stocks**
Stocks are valued at the lower of cost and net realisable value.
7
**BRACKEN TRUST LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **Debtors**
Debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid after taking account of any discounts due.
## **Cash at Bank and in Hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of twelve months or less from the date of acquisition or opening of the deposit or similar account.
## **Creditors and Provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any discounts due.
## **Accounting for Separate Funds**
The financial statements of a charity must differentiate between restricted and unrestricted funds.
Restricted funds are funds subject to specific conditions, imposed by the donor or by the specific terms of the charity appeal less amounts expended for these purposes. Designated funds are income funds of the Charity which have been set aside for specific purposes, less amounts expended for these purposes. Unrestricted funds are all the other funds of the charity.
## **Pensions**
The charity operates a defined contribution pension scheme for its employees. The assets of this scheme are held separately from those of the charity, being invested with insurance companies. Pension costs charged in the Statement of Financial Activities disclosed in note 7 represent contributions payable by the charity in the year.
8
## **BRACKEN TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## 2 **Income**
|**Donations and Legacies:**
Donations
Members Donations
Lunch Donations
Subscriptions
Legacies
**Income from Charitable Activities:**
Grants Receivable
**Other Trading Activities:**
Fund-raising Income
Social Events Income
Room Hire
Classes
**Investment Income:**
Interest Received
**TOTAL INCOME**
**Grants Receivable were as under:**
The National Lottery Community Fund
Moondance Foundation
Masononic Charitable Foundation
HMRC Job Retention Scheme
Pink Ribbon Foundation
CFW Wales Grant
Eled llandrindod YVYC
PAVO & PTHB Small Health Grant
Builth Wells Town Council
Presteigne & Norton Town Council
Heart of Wales Line Community Resilience
Fund
Magic Little Grants (Local Giving)
Tesco Groundwork
WCVA Third Sector Resilience Fund
HSBC
Friendsof Health Care in Builth Wells &
Dstrict
Bryntili Windfarm|**Unrestricted**
**Funds**
**£**
63,547
3,786
-
5
18,000
85,338
1,000
1,000
21,306
681
6,580
369
28,936
486
115,760
-
-
1,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,000|**Restricted**
**Funds**
**£**
-
-
-
-
-
-
190,271
190,271
-
-
-
-
-
-
190,271
95,885
11,350
1,000
14,305
3,255
2,000
2,000
1,380
750
250
500
500
1,000
56,096
-
-
-
190,271|**Total Funds**
**Total Funds**
**Year Ended**
**Year Ended**
**31/03/2021**
**31/03/2020**
**£**
**£**
63,547
52,431
3,786
9,792
-
494
5
44
18,000
61,583
85,338
124,344
191,271
118,935
191,271
118,935
21,306
53,482
681
2,227
6,580
6,787
369
1,850
28,936
64,346
486
627
306,031
308,252
95,885
105,113
11,350
-
2,000
1,000
14,305
-
3,255
-
2,000
-
2,000
-
1,380
-
750
-
250
-
500
-
500
-
1,000
-
56,096
-
-
2,322
-
10,000
-
500
191,271
118,935|
|---|---|---|---|
9
## **BRACKEN TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
|3
**Costs of Raising Funds:**
Fund Raising
**Charitable Activities:**
**Costs Directly Allocated to Activities:**
Nurses Salaries, National Insurance and Pension
Staff Expenses
Relief Nurses
Therapists Costs
Medical Consumables
Kitchen Expenses and Food
Repairs, Renewals and Maintenance
Garden Maintenance
Cleaning Costs
Water Rates
Light and Heat
Insurances
Social Costs
Training, Seminars and Courses
Subscriptions
Legionnaires Assessment
Information Days Expenditure
Books & Tapes
Hub Expenses
Advertising and promotional costs
Depreciation
Support Costs (See Note 4)
Governance Costs (See Note 5)
**Total Expenditure**
4
**Analysis of Support Costs**
Administrative Expenses
Depreciation
Administrative Salaries
Payroll Fees
Telephone and Internet
Administrative Staff Expenses|**Unrestricted**
**Funds**
**£**
519
519
29,425
-
602
28,340
167
119
1,139
4,969
4,192
191
2,163
1,545
-
-
784
-
-
-
-
701
1,200
48,569
7,062
131,168
131,687
2,919
1,627
42,362
510
1,146
5
48,569|**Restricted**
**Funds**
**£**
-
-
50,773
244
-
10,429
-
45
6,185
-
2,004
127
2,080
1,075
-
2,299
108
-
-
174
74
454
2,003
29,525
5,002
112,601
112,601
2,016
351
26,093
270
745
50
29,525|**Total Funds**
**Total Funds**
**Year Ended**
**Year Ended**
**31/03/2021**
**31/03/2020**
**£**
**£**
519
6,732
519
6,732
80,198
75,126
244
378
602
4,787
38,769
71,599
167
467
164
703
7,324
5,322
4,969
5,684
6,196
5,942
318
306
4,243
4,783
2,620
2,484
-
416
2,299
5,213
892
1,177
-
480
-
239
174
-
74
1,414
1,155
1,926
3,203
4,537
78,094
76,880
12,064
12,173
243,769
282,036
244,288
288,768
4,935
4,863
1,978
2,059
68,455
66,852
780
540
1,891
2,246
55
320
78,094
76,880|
|---|---|---|---|
10
## **BRACKEN TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
|5
**Analysis of Governance Costs**
Accountancy
Independent Examiner’s Fee
Administrative Expenses
Depreciation
Administrative Salaries
Administrative Staff Expenses
Telephone and Internet
Annual Filing Fee
Bank Charges
Fee Protection Insurance
Legal Fees
Training
6
**TRANSFER BETWEEN FUNDS**
The transfer between funds in the year are:
Transfer of Core Costs to projects
Transfer of Restricted Funds to Unrestricted Funds
Transfer of Core Funds to Project Funds|**Unrestricted**
**Funds**
**£**
1,020
600
324
180
4,707
1
127
6
52
45
-
-
7,062|**Restricted**
**Funds**
**£**
1,530
-
224
39
2,899
5
83
7
-
-
-
215||**Total Funds**
**Total Funds**
**Year Ended**
**Year Ended**
**31/03/2021**
**31/03/2020**
**£**
**£**
2,550
2,460
600
600
548
540
219
229
7,606
7,428
6
36
210
250
13
13
52
32
45
45
-
540
215
-
12,064
12,173
**Unrestricted**
**Restricted**
**Funds**
**Funds**
**£**
**£**
43,519
(43,519)
350,000
(350,000)
(493)
493
393,026
(393,026)|
|---|---|---|---|---|
|||5,002|||
||||||
||||||
## 7 **STAFF COSTS**
There was an average of ten employees (2020- ten) during the year, whose costs were as under:
|Salaries
Employers National Insurance
Employers Staff Pension Costs|**2021**
**2020**
**£**
**£**
152,713
148,467
5,265
6,138
2,340
2,756
160,318
157,361|
|---|---|
Staff costs of £14,305 were funded by the HMRC Job Retention Scheme which would normally have been funded by core costs.
11
**BRACKEN TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## 8 **TANGIBLE FIXED ASSETS**
|**Cost or Revaluation**
At 1 April 2020
Additions
At 31 March 2021
**Depreciation**
At 1 April 2020
Charge for year
**Carrying Amount**
At 31 March 2021
At 31 March 2020|**Freehold**
**Property**
**£**
511,941
-
511,941
-
-
-
511,941
511,941|**Fixtures**
**and**
**Fittings**
**£**
117,331
2,626
119,957
91,388
3,202
94,590
25,367
25,943|**Office and**
**Computer**
**Equipment**
**£**
22,842
1,295
24,137
19,352
2,198
21,550
2,587
3,490|**Total**
**£**
652,114
3,921|
|---|---|---|---|---|
|||||656,035|
|||||110,740
5,400
|
|||||116,140|
|||||539,895|
|||||541,374|
The Freehold Property, The Bracken Trust, was purchased in 1998 at a cost of £126,951 and Improvements to Property since acquisition have cost £540,365. The Freehold Property was valued at £500,000 at 31 March 2011, based on a valuation of the market value, as defined by the RICS Valuation Standards May 2011 by Adam H Dean FRICS IRRV SAVA of James Dean who confirmed there has been no change in the market value at 31 March 2016. This valuation will be adopted as the deemed cost of the property in applying the provisions of Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).
|9
**STOCKS**
Stationery
Medical Consumables
Fundraising Stock
The value of stocks are estimated figures
10
**DEBTORS**
Legacy
Other Debtors
HMRC JRS Grant
Tax Repayments
Prepayments|**2021**
**2020**
**£**
**£**
250
250
250
250
500
500
1,000
1,000
**2021**
**2020**
**£**
**£**
-
16,302
-
6,073
1,385
-
3,018
1,413
3,814
1,632
8,217
25,420|
|---|---|
11 **CASH AT BANK AND IN HAND**
Cash at Bank and in Hand includes £156,500 held in the client’s bank account of Margraves, Solicitors.
12
**BRACKEN TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
|12
**CREDITORS: Amounts falling due**
**within one year**
Creditors
Accruals
Deferred Income
WCVA Loans
Short-Term Compensated Absence (Holiday Pay)|**2021**
**2020**
**£**
**£**
2,662
1,889
3,780
3,540
5,803
2,514
427
-
18,699
-
31,371
7,943|
|---|---|
13 **UNRESTRICTED FUNDS**
|General Funds
Designated Funds:
Future Development Costs Fund
Unrestricted Funds:
Total Unrestricted Funds|**At**
**01/04/2020**
**£**
124,774
84,191
208,965|**Income**
**£**
115,760
-
115,760|**Expenditure**
**£**
(131,687)
-
(131,687)|**At**
**Transfers**
**31/03/20201**
**£**
**£**
393,026
501,873
-
84,191
393,026
586,064|
|---|---|---|---|---|
Purpose of Designated Funds
The Trustees have designated funds towards a Future Development Costs Fund, to further the Charity’s objectives in the future.
14 **RESTRICTED FUNDS**
|**Restricted Capital Funds:**
Building and Extension
MacMillan Information and Support
Centre Extension
PAVO - Can Do Communities
Shed Electrics
Outside Lighting
Washing Machine
Awning
Chair
Nurse Alarm System
The National Lottery Community Fund - Solar
Panels
Laptop
Processor
Chairs
Extractor Fan|**At**
**01/04/2020**
**£**
150,000
350,000
380
400
4,500
274
2,800
318
450
5,112
-
-
-
-
514,234|**Income**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-|**Expenditure**
**£**
-
-
(190)
(40)
(450)
(38)
(400)
(46)
(50)
(568)
(173)
(217)
(131)
(90)
(2,393)|**At**
**Transfers**
**31/03/2021**
**£**
**£**
-
150,000
(350,000)
-
-
190
-
360
-
4,050
-
236
-
2,400
-
272
-
400
-
4,544
520
347
650
433
1,312
1,181
900
810
(346,618)
165,223|
|---|---|---|---|---|
There was a restriction in respect of the funding received from Macmillan Cancer Support for the “Bracken Trust Macmillan Information and Support Centre” completed in the year ended 31 March 2011 for the Charity to use the building for the purpose of providing care, information and support for people affected by cancer for a period of at least ten years. As this restriction expired in the year, these funds have been transferred to Unrestricted Funds.
Continued on page 14
13
## **BRACKEN TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## 14 **RESTRICTED FUNDS (CONTINUED)**
|**Restricted Income Funds:**
Lunch Donations
The National Lottery Community Fund
Macmillan Cancer Support - Information
Co-ordinator
Oakdale Trust - Hoist
The National Lottery Community Fund -
Climate Action
HSBC bank plc - Upgrade Therapy Rooms
Friends of Health Care in Builth Wells & District
Masonic Charitable Foundation
Tesco Groundwork
HMRC Job Retention Scheme
Moondance Foundation
Eled Llandrindod YVYC
Heart of Wales Line Community Resilience Fund
Magic Little Grants (Local Giving)
CFW Wales Grant
Tesco Groundwork
Pink Ribbon Foundation
Presteigne & Norton Town Council
Builth Wells Town Council
PAVO & PTHB Small Health Grant
WCVA Third Sector Resilience Fund
WCVA Third Sector Resilience Fund - Charity shop
Total Restricted Funds|**At**
**01/04/2020**
**£**
987
4,307
2,146
85
4,220
2,322
9,698
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
23,765
537,999|**Income**
**£**
-
95,885
-
-
-
-
-
1,000
500
14,305
11,350
2,000
500
500
2,000
500
3,255
250
750
1,380
41,919
14,177
190,271
190,271|**Expenditure**
**£**
-
(70,949)
(2,146)
(85)
(2,103)
(461)
(74)
(1,011)
(233)
(14,305)
(11,362)
(2,048)
(557)
(705)
(2,059)
(517)
(1,593)
-
-
-
-
-
(110,208)
(112,601)|**At**
**Transfers**
**31/03/2021**
**£**
**£**
-
987
(2,770)
26,473
-
-
-
-
-
2,117
(1,861)
-
-
9,624
11
-
(267)
-
-
-
12
-
48
-
57
-
205
-
59
-
17
-
-
1,662
-
250
-
750
-
1,380
(41,919)
-
-
14,177
(46,408)
57,420
(393,026)
222,643|
|---|---|---|---|---|
The purposes of Restricted Capital Funds are for expenditure on Tangible Fixed Assets as detailed above.
The purposes of Restricted Income Funds are:
Lunch Donations
Macmillan Cancer Support
Oakdale Trust
- donations towards the provision of lunches and kitchen costs.
- funding for an Information Co-ordinator and continued maintenance of an information centre at the Bracken Trust
- funding used for ongoing maintenance of the hoist
The National Lottery Community Fund - funding to provide Well Being and Community Support services The National Lottery Community Fund
- Climate Action
HSBC Bank plc Friends of Health Care in Builth Wells and District
Masonic Charitable Foundation
- funding to take action on climate change.
- funding to upgrade therapy rooms.
- funding to establish a ‘Well Being & Community Support Service’ in Llanwrtyd Wells which will support patients of the Builth & Llanwrtyd Wells GP Practices.
- funding for PPE and additional cleaning due to covid-19.
Continued on page 15
14
**BRACKEN TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## 14 **RESTRICTED FUNDS (CONTINUED)**
|Tesco Groundwork|- funding for cushions for garden furniture/wipeable chairs.|
|---|---|
|HMRC Job Retention Scheme|- funding for staff furloughed due to covid-19 pandemic.|
|Moondance Foundation-|- funding for salaries, manager, counsellors and nurses.|
|Eled Llandrindod YVYC|- funding for bereavement counselling and therapy|
|Heart of Wales Line Community Resilience Fund - funding for counsellor and administrative salary.||
|Magic Little Grants (Local Giving)|- funding for a craft class.|
|CFW Wales Grant|- funding for additional nurse’s costs.|
|Tesco Groundwork|- funding for additional telephone costs and on-line classes.|
|Pink Ribbon Foundation|- funding for webpage for breast care.|
|Presteigne & Norton Town Council|- funding for summerhouse.|
|Builth Wells Town Council|- funding for summerhouse.|
|PAVO & PTHB Small Health Grant|- funding for dance classes.|
|WCVA Third Sector Resilience Fund|- funding to provide survival and recovery support during the covid-19|
||pandemic.|
|WCVA Third Sector Resilience Fund|- funding for a charity shop.|
## 15 **ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|Unrestricted Funds - General Funds
Unrestricted Funds - Designated Funds
Restricted Funds|**Tangible**
**Fixed**
**Assets**
**£**
374,672
-
165,223
539,895|**Net**
**Current**
**Assets**
**Total**
**£**
**£**
127,201
501,873
84,191
84,191
57,420
222,643
268,812
808,707|
|---|---|---|
## 16 **TRUSTEES REMUNERATION AND EXPENSES**
No remuneration directly or indirectly out of the funds of the Charity was paid or payable in the year to any Trustee or to any person or persons known to be connected with any of them.
No travel expenses were paid to a Trustee (2020 - £NIL).
## 17 **CONTINGENT LIABILITIES**
There is a contingent liability in respect of the Community Fund restricted grant of £46,301 received in the period ended 28 February 2003 for the Building Extension Appeal Fund, as the terms and conditions of the grant remain in force for 80 years after completion of the work.
## 18 **TAXATION**
The company is registered as a charity and is therefore not liable to Corporation Tax.
15