2020-12-31-accounts - The Cobbe Collection Trust

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for the Year Ended 31 Decemb	er 2020
					31.12.20	31.12.19
		Unrestncted	Restricted	Endowment	Total	Total
		fund	funds	fund	funds	funds
	Notes			K	E
INCOME AND ENDOWMENTS	FROM
Donations and legacies		40,785			40,785	67,453
Investment income				15640	15640	23,668
Total		40,785		15,640	56,425	91,121
EXPENDITURE ON
Raising funds		914			914	3,345
Charitable actlvines
Charita hie		165,817			165,817	102,365
Total		166,731			166,731	105,710
NET INCOME/(EXPENDITURE)		(125,946)		15,640	(110,306)	(14,589)
Transfers between funds	16	110786		I ~10786
Net movement In funds		615.1606		(95,146)	(110,306)	(14,589)
RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD		59,870 &1710	1,548,655 1548655	620,903 2,229,428 2,244,017 525757»»5

31 December	2020
							31.12.20	31.12.19
				Unrestncted	Restricted	Endowment	Total	Total
				fund	funds	fund	funds	funds
			Notes			K	E
FIXED ASSETS
Tangible assets			10					157
Heritage assets			II	80,151	1,548,655		1,628,806	1,630,954
Investments			12			525 757	525 757	620,903
				80,151	1,548,655	525,757	2,154,563	2,252,014
CURRENT ASSETS
Stocks			13	3,990			3,990	3,345
Debtors			14	5,206			5,206	7,082
Cash at bank	and	in hand		10529			10529	1,611
				19,725			19,725	12,038
CREDITORS
Amounts falling due within one
year			i5	(55,166)			(55,166)	(34,624)
NET CURRENT	ASSETS			~35.4!1)			~35.4!1)	~22.586)
TOTAL ASSETS LESS		CURRENT
LIABILITIES				44,710	1,548,655	525,757	2,119,122	2,229,42B
NET ASSETS				44 710	1 040 655	525 757	2 119122	2229 420
FUNDS			16
Unrestricted funds							44,710	59,870
Restricted funds							1,548,655	1,548,655
Endowment funds							2	620,903
TOTAL FUNDS							2 119122	2 229428

INVESTMENT INCOME
			31.12.20	31.12.19
Investment income			15640	23 668
NET INCOME/(EXPENDITURE)
Net income/(expenditure)		is stated after charging/(crediting):
			31.12.20	31.12.19
			E
~epreciation -owned	assets		157	208

STAFF COSTS
										2020	2019
Gross salaries	(inc redundancy)									15.151	16,151
Employer NIC										257	257
										15,408	15,408
The average	monthly		number		of employees		dunng	the year was as follows:
										31.12.20	31.12.19
Management		and administration								2	2
No employees		received		emoluments		in excess of 560,000.
COMPARATIVES		FOR	THE	STATEMENT		OF FINANCIAL		ACTIVITIES
								Unrestricted	Restricted	Endowment	Total
								fund	funds	fund	funds
INCOME AND	ENDOWMENTS				FROM
Donations and		legacies						67,453			67,453
Investment income										23,668	23,668
Total								67,453		23,668	91,121
EXPENDITURE	ON
Raising funds								3,345			3,345

o the Financial Statements - continued Year Ended 31 December 2020	o the Financial Statements - continued Year Ended 31 December 2020	o the Financial Statements - continued Year Ended 31 December 2020	o the Financial Statements - continued Year Ended 31 December 2020
COMPARATIVES FOR THE STATEMENT OF FINANCIAL				ACTIVITIES - contInued
				Unrestricted	Restricted		Endowment	Total
				fund		funds	fund	funds
								8
Charitable activities
Charitable				102,365				102,365
Total				105,710				105,710
NET INCOME/(EXPENDITURE)				(38,257)			23,668	(14,589)
Transfers between	funds			10.080	~15.000i		4,920
Net movement In funds				(28,177)		(15,000)	28,588	(14,589)
RECONCILIATION OF FUNDS
Total funds brought	forward			88,047	1,563,655		592,315	2,244,017
TOTAL FUNDS CARRIED FORWARD				59 870	I	548 655	620 903	2 229 428
ANALYSIS OF CHARITABLE		ACTIVITIES
							31.12.2020	31.12.2019
Staff costs							14,769	15,408
Insurances							2,590	3,494
Telephone							969	2,463
Advertising								40
Consultancy fees							2e,e2e	48,000
Building expenditure								2,204
Keyboard maintenance							1,808	10,220
Concert expenses							10,557	14,797
Rent expenses							16,931	20,192
Legal fees
Accountancy fees							8,900	6,400
Office assistance								1,643
Office equipment	maintenance		and stationery				1,128	75
Computer and website							3,961	3,290
Bank charges							586	638
Purchases							16	675
Turll rig Governance costs							4,707 2,850	14,022 2,260
Professional fees							1,768	7,000
Loss on sale of investments							65,346	(52,811)
Depreciation of tangible		fixed assets					2,305 * 8	2,355 102,365

The Cobbe CollectIon Trust	The Cobbe CollectIon Trust
Notes to the Financial Statements		- continued
for the Year Ended 31 December		2020
9.	GOVERNANCE COSTS
			31.12.20	31.12.19
	Independent examiners	fees	1,050	1,000
	Preparation of financial statements		1,710	1,260
				2,260
10.	TANGIBLE FIXED ASSETS
				Computer
				equipment
	COST
	At I January 2020 and 31 December 2020			~17100
	DEPRECIATION
	Al I Januory 2020			16,943
	Charge for year			157
	At 31 December 2020			17,100
	NET BOOK VALUE
	At 31 December 2020
	At 31 December 2019			157
11.	HERITAGE ASSETS
				Total
	MARKET VALUE
	At I Jonuary 2020 and 31 December 2020			1 672 585
	PROVISIONS
	At I January 2020			41,631
	Charge for year At 31 December 2020			2 148 437 9
	NET BOOK VALUE
	At 31 December 2020			1 628 806
	At 31 December 2019			1 630954

								31.12.20	31.12.19
	Coutts &Co							525,757	620,903
13.	STOCKS
								31.12.20	31.12 19
								E
	Stocks							~3990	~3345
14.	DEBTORS:AMOUNTS			FALLING DUE WITHIN ONE YEAR
								31.12.20	31.12.19
								E
	Trade debtors								321
	VAT							1,908	3,463
	Prepayments		and accrued income					3298	3,298
								~5206	~7082
15.	CREDITORS: AMOUNTS				FALLING DUE WITHIN ONE YEAR
								31.12.20	31.12.19
								E
	Trade creditors							24,016	212
	Socia security		and	other taxes				51	21
	Other creditors							1,279	1,187
	Accruals and		deferred		income			29,820	33,204
								55 166	~34 624
16.	MOVEMENT IN		FUNDS
							Net	Transfers
							movement	between	At
						At 1.1.20	in funds	funds	31.12.20
							E
	Unrestricted	funds
	General fund					59,870	(125,946)	110,786	44,710
	ResMcted funds
	Broadwood	trust fund				25,000			25,000
	Alee Cobbe	trust fund				236,355			236,355
	Donated instruments			fund		1.207 3M			1.207 3M
						1,548,655			1,548,655
	Endowment	funds
	Endowment	Fund				620,903	15,640	(110,786)	525,757
	TOTALFUNDS					2229420	~990304		2 119122

Net movemen	t in fund	s, incl	uded in the abov	e are as fo	llows:
						Incoming	Resources	Movement
						resources	expended	in funds
Unrestricted funds
General fund						40,785	(166,731)	(125,946)
Endowment funds
Endowment	Fund					15,640		15,640
TOTAL FUNDS						56425	~166731)	~110306)
Comparatives	for movement		in funds
						Net	Transfers
						movement	between	At
				At	1.1.19	in funds	funds	31.12.19
Unrestricted funds
General fund				88,047		(38257)	10,080	59,870
Restricted funds
Eroadwood	trust fund			25,000				25.030
Alee Cobbe	trust fund			236.355				236,355
Donated instruments		fund		1,287,300				1,287,330
Monument trust fund					15,000		15,000
				1,563,655			(15,000)	1,548,655
Endowment funds
Endowment TOTALFUNDS	Fund			592,315 22 0»		23,668 ~89	4,920	620,933 2 229 428

Comparative	net movement in funds, includ	ed in the above are as follows:
		Incoming	Resources	Movement
		rcso urea s	cxpcndcd	in funds
Unrestricted	funds
General fund		67,453	(105,710)	(38,257)
Endowment	funds
Endowment	Fund	23,668		23,668
TOTAL FUNDS		91 121	~105710)	~14589)

A current ye	ar 12mon	ths and prior yea	r 12months com	bined p	osition is as follows:
					Net	Transfers
					movement	between	At
			At 1.1.19		in funds	funds	31.12.20
					E
Unrestricted	funds
Gerieial lund				88,047	( I 64,203)	120,866	44,710
ResMcted funds
Broadwood	trust fund			25,000			25,030
Alee Cobbe	trust fund		236,355				236,355
Donated instruments		fund	1,287,300				1,287,300
Monument trust fund				15,000		15,000
			1,563,655			(15,000)	1,548,655
Endowment	funds
Endowment	Fund		592,315		39,308	(105,866)	525,757
TOTALFUNDS			22	517	~724595		2 119 122

A current y as follows:	ear 12 months and pnor year 12	months combined net movement in fu	nds, included in	the above ar
		Incoming	Resources	Movement
		resources	expended	in funds
Unrestricted	funds
C en era I fund		108,238	(272,441)	(164,203)
Endowment	funds
Endowment	Fund	39,308		39,308
TOTAL FUNDS		~147546	~272 441)	~124895)

Endowment	Endowment	Fund:		Tte expendable endowment fund was created in	order to ensure the	order to ensure the	long
				term future ofthe Charity. The intention is that once the fund is at the
				planned level of 84,000,000the investment income	generated will be
				sufficient to cover annual expenditure without reliance on donated
				income.
Broadwood		Trusl;		Tte Broodwood Trusl represerils funds received for	Ihe acquisiliori ol u
				Grand Pianoforte by John Broadwood &Sons, London 1816.
Alee Cobbe Fund;				Tle Alee Cobbe Fund represents money donated to the Charity by Alee
				Cobbe, but does not reflect the value of instruments	which he donated.
				The fund was established to give the Trustees an enabling fund for such
				improvements to the Collection, but with particular	regard to its setting, as
				might not be considered to be a main call on the	income provided	by
				Donald Kahn for running the Collection.
Adopt an	instrument		Fund:	Tl e Adopt an instrument Fund was set up in 2011 for the purpose of funding
				maintenance expenditure for individual instruments.	Any balance
				remaining represents unspent restricted donations	received for this
				purpose.
Monument		Trust Fund:		Ti e Monument Trust Fund represents funds received as a contribution			to the
				costs of employing the concert manager.
~onated	Instrument		Fund:	Ti e Donated Instruments Fund represents the value	of keyboard instruments
				donated to the Charity between 1998and 2001 by Aec Cobbe, the		lliffe
				Family Trust and Dr Vernon Hamson.
RELATED PARTY DISCLOSURES