2020-12-31-accounts - The Army Dependants' Trust

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

		Page
Report ofthe Trustees	1	to	8
Report ofthe Independent Auditors	gto12
Statement of Financial Activities		13
Balance Sheet		14
Cash Flow Statement		15
Notes to the Cash Flow Statement		16
Notes to the Financial Statements	17 Io		25
Detailed Statement of Financial Activities	26 Io		27

				2020	2019
				Unrestricted	Total
				fund	funds
			Notes	f
INCOME AND ENDOWMENTS		FROM
Donations and legacies				884,919	894,400
Investment income				956,965	1,004,000
Other income				3,999	3,000
Total				1,845,883	1,901,400
EXPENDITURE ON
Raising funds				23,309	22,885
Charitable activities
Grants to dependants	and ABFThe
Soldiers' Charity				1,801,593	1,685,295
Total				1,824,902	1,708,180
Net gains/(losses) on	investments			(121,910)	3,216,711
NET INCOME/(EXPENDITURE)				(100,929)	3,409,931
RECONCILIATION OF FUNDS
Total funds brought	forward			27,856,652	24,446,721
TOTAL FUNDS CARRIED FORWARD				27,755,723	27,856,652

		2020	2019
		Unrestricted	Total
		fund	funds
	Notes	F	8
FIXEDASSETS
Tangible assets Investments	14 15	194 25,699,005	290 25,820,916
		25,699,199	25,821,206
CURRENT ASSETS
Debtors	16	1,006	1,333
Cash at bank	17	3,004,005	2,083,834
		3,005,011	2,085,167
CREDITORS
Amounts falling due within one year	18	(948,487)	(49,721)
NET CURRENT ASSETS		2,056,524	2,035,446
TOTAL ASSETSLESSCURRENT
t.lABILITIES		27,755,723	27,856,652
NET ASSETS		27,755,723	27,856,652
FUNDS	19
Unrestdcted funds		27,755,723	27,856,652
TOTAL FUNDS		27,755,723	27,856,652

		CASH FLOW STATEMENT	CASH FLOW STATEMENT	CASH FLOW STATEMENT
	FO	THE	YEAR E	ED 31DECEMBER 2020
				2020	2019
			Notes		8
Cash flows	from operating activities
Cash generated from operations			1	(36,794)	(1,420,851 )
Net cash used in operating activities				(36,794)	(1,420,851 )
Cash flows	from investing activities
Purchase oftangible fixed assets					(308)
Interest received				3,086	5,300
Dividends received				933,351	972,661
Property investment income				20,528	26,039
Net cash provided by investing		activities		956,965	1,003,692
Change in	cash and cash
equivalents	in the reporting
period				920,171	(417,159)
Cash and	cash equivalents	at the
beginning	ofthe reporting period			2,083,834	2,500,993
Cash and	cash equivalents	at the
end ofthe	reporting period			3,004,005	2,083,834

		FOR THE YEAR E DED3 DECE	FOR THE YEAR E DED3 DECE	FOR THE YEAR E DED3 DECE	E 2020
1,	RECONCILIATION	OF NET (EXPENDITURE)/INCOME			TO NET CASH FLOW	FROM
	OPERATING ACTIVITIES
					2020	2019
					f	6
	Net (expenditure)/income		for the reporting	period (as	per
	the Statement ofFinancial		Activities)		(100,929)	3,409,931
	Adjustments for:
	Depreciation charges				96	143
	Losses/(gain) on investments				121,911	(3,216,711)
	Interest received				(3,086)	(5,300)
	Dividends received				(933,351)	(972,661)
	Property investment	income			(20,528)	(26,039)
	Decrease/(increase)	in debtors			327	(319)
	Increase/(decrease)	in creditors			898,766	(609,895)
	Net cash used in	operations			(36,794)	(1,420,851)

ANALYSIS OF CHANGES IN NE	T FUNDS
	At1.1.20 f	Cash flow f	At 31.12.20 E
Net cash
Cash at bank	2,083,834	920,171	3,004,005
	2,083,834	920,171	3,004,005
Total	2,083,834	920,171	3,004,005

		FOR THE YEAR E	FOR THE YEAR E	FOR THE YEAR E	NDE 31D CEMBE	R 2020
3.	DONATIONS AND	LEGACIES
						2020	2019
							f
	Members' subscdptions					884,078	893,302
	Donations					841	1',098
						884,919	894,400
4.	INVESTMENT INCOME
						2020	2019
						f	f.
	Property based investment			income		20,528	26,039
	Dividend income					933,351	972,661
	Interest on cash deposits					2,289	4,927
	Charities Trust Gainshare		interest			797	373
						956,965	1,004,000
	RAISING FUNDS
	Raising donations	and legacies
						2020 f	2019
	Staffcosts General insurance					22,143 195	21,940 193
	Printing, postage, stationery,			telephone	and internet	323	409
	Sundries					18	98
	Books and software					93	102
	Repairs and renewals ofequipment					441
	Depreciation					96	143
						23,309	22,885

									Grant
									funding	of
							Direct		activities		Support
							Costs (see		(see note		costs (see
							note 7) f		8)f		note 9) f	Totals f
Grants to	dependants			and ABF
The Soldiers' Charity							33,484		1,754,000		14,109	1,801,593
DIRECT	COSTS	OF CHARITABLE				ACTIVITIES
											2020	2019
Staffcosts											31,633	31,343
General insurance											280	277
Printing,	postage,		stationery,		telephone		and internet				464	589
Sundries											27	141
Books and software											133	145
Repairs,	renewals		and office equipment								635
Foreign exchange											312
											33,484	32,495
GRANTS PAYABLE
											2020	2019
											f
Grants to dependants				and ABFThe Soldiers'				Charity			1,754,000	1,640,000
The total	grants paid to institutions					during the		year was as
follows:
											2020	2019
ABFThe	Soldiers'		Charity								929,000	800,000
The total	grants	paid		to individuals		during the year was as
follows:
											2020 f	2019 f
Beneficiaries ofdeceased members											825,000	840,000

							Governance
							costs
							f
	Grants to dependants		and ABF		The
	Soldiers'	Charity					14,109
	Support	costs, included	in the	above, are as follows:
						2020	2019
						Grants to
						dependants
						and ABF
						The
						Soldiers'	Total
						Charity	activities
	Wages					8,587	8,495
	Social security					813	820
	Pensions					90	88
	Auditors'	remuneration				2,880	2,880
	Indemnity	insurance				953	953
	Auditors'	remuneration	over
	provision	last year					(480)
	Subscriptions					746
	Books and software					40	44
						14,109	12,800
10.	AUDITORS' REMUNERATION
						2020	2019
						6
	Fees payable to the charity's			auditors for the audit ofthe
	charity's	financial statements				2,880	2,880
11.	TRUSTEES' REMUNERATION				AND BENEFITS

STAFF CO	STS
			2020	2019
			8	6
Secretary's	salary		37,008	37,047
Other staff	salaries		20,239	19,585
Social security			5,419	5,466
Secretary's	pension	contributions
Other staff	pension	contributions	600	588
			63,266	62,686

		Office
		equipment
COST
At 1 January 2020 and
31 December 2020		1,470
DEPRECIATION
At I January 2020		1,180
Charge for year		96
At 31 December	2020	1,276
NET BOOK VALUE
At 31 December	2020	194
At 31 December	2019	290

FIXEDASSET INVESTMENTS
	Unlisted
	investments
	f
MARKET VALUE
At 1 January 2020	25,820,916
Revaluations	(121,911)
At 31 December 2020	25,699,005
NET BOOK VALUE
At 31 December 2020	25,699,005
At 31 December 2019	25,820,916

market values at the end	ofthe yea	r as follows:		,
			2020 f	2019 f
The Armed Forces Charities Growth		& Income Fund	20,354,30 0	19,419,80 0
Mayfair Property Income	Trust for Charities		445,434	473,425
M&G Equities Investment	Fund for	Chadties	4,899,271	5,927,691
			5,699,005	5,820,916

DEBTORS:AMOUNTS	FALLING DUE WITHIN	ONE YEAR
		2020 f	2019 f
Members subscriptions	due	3	4
Other debtors			308
Prepayrnents		1,003	1,021
		1,006	1,333

		2020	2019
		Total	Total
		funds	funds
		8	9
Clearing	bank account	2,131,116	1,213,234
Charities	deposit account	872,889	870,600
Total		3,004,005	2,083,834

2020 f	2019 E
	27
944,000	45,000
1,447	1,814
160
2.880	2,880
948,487	49,721

MOVEM	ENT	IN FUNDS
				Net
				movement	At
			At 1.1.20	in funds f	31.12.20 F
Unrestricted		funds
General	fund		27,856,652	(100,929)	27,755,723
TOTAL	FUNDS		27,856,652	(100,929)	27,755,723

Net mov	emen	t in funds, includ	ed in the above are as	follows:
			Incoming	Resources	Gains and	Movement
			resources f	expended f	losses F	in funds
Unrestricted		funds
General	fund		1,845,883	(1,824,902)	(121,910)	(100,929)
TOTAL	FUNDS		1,845,883	(1,824,902)	(121,910)	(100,929)

							Net
							movement	At
						At 1.1.19	in funds	31.12.19
							F	f
Unrestricted		funds
General	fund					24,446,721	3,409,931	27,856,652
TOTALFUNDS						24,446,721	3,409,931	27,856,652
Comparative		net movement	in funds,	included	in the	above are as	follows:
				Incoming		Resources	Gains and	Movement
				resources		expended	losses f	in funds f
Unrestricted		funds
General	fund			1,901,400		(1,708,180)	3,216,711	3,409,931
TOTAL	FUNDS			1,901,400		(1,708,180)	3,216,711	3,409,931

	F	OR THE YEAR E DED 31D	ECEMBER 2020
			2020 f	2019 F
INCOME AND ENDOWMENTS
Donations and legacies
Members' subscriptions			884,078	893,302
Donations			841	1,098
			884,919	894,400
Investment income
Property based investment		income	20,528	26,039
Dividend income			933,351	972,661
Interest on cash deposits			2,289	4,927
Charities Trust Gainshare	interest		797	373
			956,965	1,004,000
Other income
Employers N.l.allowance			3,999	3,000
Total incoming resources			1,845,883	1,901,400
EXPENDITURE
Raising donations and legacies
Wages			20,036	19,821
Social security			1,897	1,913
Pensions			210	206
General insurance			195	193
Printing, postage, stationery,		telephone
and internet			323	409
Sundries			18	98
Books and software			93	102
Repairs and renewals ofequipment			441
Office equipment depreciation			96	143
			23,309	22,885
Charitable activities
Wages			28,624	28,316
Social security			2,709	2,733
Pensions			300	294
General insurance			280	277
Printing, postage, stationery,		telephone
and internet			464	589
Carried forward			32,377	32,209

D	ETAILED STATEMENT OF FINA FORTHE YEAR DED 3	NCIAL ACTIVITIES CEMBER 20 0
		2020f	2019f
Charitable activities
Brought forward		32,377	32,209
Sundries		27	141
Books and software		133	145
Repairs, renewals and office equipment		635
Foreign exchange		312
Grant to ABFThe Soldiers' Charity		929,000	800,000
Grants awarded to dependants		825,000	840,000
		1,787,484	1,672,495
Support costs
Governance costs
Wages		8,587	8,495
Social security		813	820
Pensions		90	88
Auditors' remuneration		2,880	2,880
Indemnity insurance		953	953
Auditors' remuneration	over provision
last year			(480)
Subscriptions		746
Books and software		40	44
		14,109	12,800
Total resources expended		1,824,902	1,708,180
Net income before gains and losses		20,981	193,220
Unrealised gains and losses
Gains/(losses) on investments		(121,910)	3,216,711
Net (expenditure)/income		(100,929)	3,409,931