2021-03-31-accounts

Secretary		Mr P Harris
Charity number		1074713
Company	number	03719976
Principal address		23 King George's	Drive
		Port Sunlight
		Wirral
		CH62 5DX
Registered	office	23 King George's	Drive
		Port Sunlight
		Wirral
		CH62 5DX

		Page
Trustees' report		1-10
Statement ofTrustees'	responsibilities
Independent auditor's	report	12 - 14
Statement offinancial	activities	15
Balance sheet		16
Statement ofcash flows		17
Notes to the financial statements		18-35

				Unrestricted	Restricted	Total	Unrestdicted	Restricted	Total
				funds	funds		funds	funds
				2021	2021	2021	2020	2020	2020
		Notes		E	E	E	E	E	E
Income from:
Donations and	legacies			1,079,632		1,079,632	722,221		722,221
Charitable activities				2,480,152	9,000	2,489,152	2,386,522	9,000	2,395,522
Other trading activities				14,332		14,332	296,450		296,450
Investments				2,013		2,013	5,980		5,980
Other income				3,523	136,905	140,428	13,562	85,482	99,044
Total income				3,579,652	145,905	3,725,557	3,424,735	94,482	3,519,217
~Edit
Charitable activities			8	2,174,082	146,438	2,320,520	2,471,042	129,359	2,600,401
Other			12	3,760		3,760
Total resources
expended				2,177,842	146,438	2,324,280	2,471,042	129,359	2,600,401
Net incomingl
(outgoing) resources before transfers				1,401,810	(533)	1,401,277	953,693	(34,877)	918,816
Gross transfers
between funds				(5,045)	5,045		(35,553)	35,553
Net incoming	resources			1,396,765	4,512	1,401,277	918,140	676	918,816
Other recognised		gains	and	losses
Revaluation of	tangible
fixed assets				590,786		590,786	379,602		379,602
Recognition of	defined
benefit scheme	liability			(259,000)		(259,000)
Net movement	in funds			1,728,551	4,512	1,733,063	1,297,742	676	1,298,418
Fund balances	at 1
April 2020				36,765,666		36,765,666	35,467,924	(676)	35,467,248
Fund balances	at	31
March 2021				38,494,217	4,512	38,498,729	36,765,666		36,765,666

					2021	2021	2020
				Notes
Fixed assets
Tangible assets				13		361,501	381,116
Heritage assets				14		35,050,614	34,302,506
Investments				15		1	1
						35,412,116	34,683,623
Current assets
Stocks				17	22,366		22,123
Debtors				18	62,513		145,601
Cash at bank and	in	hand			5,062,666		3,160,791
					5,147,545		3,328,515
Creditors: amounts		falling due within
one year				19	(1,145,074)		(492,679)
Net current assets						4,002,471	2,835,836
Total assets less	current liabilities					39,414,587	37,519,459
Creditors: amounts		falling due after
more than one year				20		(656,858)	(753,793)
Provisions for liabilities				22		(259,000)
Net assets						38,498,729	36,765,666
Income funds
Restricted funds				24		4,512
Unrestricted funds
Designated funds:
Revaluation reserve					11,495,615		10,904,829
Other designated	funds				26,398,602		25,260,837
				25	37,894,217		36,165,666
General unrestricted		funds			600,000		600,000
						38,494,217	36,765,666
						38,498,729	36,765,666
The n ial statements			were approved	by the Trustees	on 15October	2021

					2021		2020
				Notes	6		f
Cash flows from operating		activities
Cash generated from operations				29		2,186,807		1,607,529
Investing	activities
Purchase	oftangible fixed assets				(40,446)		(20,977)
Proceeds	on disposal oftangible		fixed
assets					3,700
Purchase	ofheritage assets				(157,321)		(73,680)
Investment	income received				2,013		5,980
Net cash	used in investing	activities				(192,054)		(88,677)
Financing	activities
Repayment	ofbank loans				(92,878)		(88,988)
Net cash	used in financing	activities				(92,878)		(88,988)
Net increase in cash and cash			equivalents			1,901,875		1,429,864
Cash and	cash equivalents	at beginning		ofyear		3,160,791		1,730,927
Cash and	cash equivalents	at end of		year		5,062,666		3,160,791

			Unrestricted	Unrestricted
			funds	funds
			2021	2020
			f	6
Donations	and gifts		982	7,988
Grants and	sponsorship	receivable	1,078,650	714,233
			1,079,632	722,221

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Unrestricted	Unrestricted
funds	funds
2021	2020f
14,332	296,450

		Unrestricted	Unrestricted
		funds	funds
		2021	2020
			f
Interest	receivable	2,013	5,980

		Unrestricted	Restricted	Total	Unrestdcted	Restricted	Total
		funds	funds		funds	funds
		2021	2021		2020	2020	2020
			6		6	6
Other	income	3,523	136,905	140,428	13,562	85,482	99,044

8	Charitable activities
							2021	2020
								f.
	Staff costs						944,738	1,015,138
	Depreciation and impairment						52,600	57,623
	Administration costs						318,565	387,125
	Property costs						647,957	749,536
	Other costs						139,481	139,559
	Finance costs						35,497	53,360
							2,138,838	2,402,341
	Share ofgovernance	costs	(see note 9)				181,682	198,060
							2,320,520	2,600,401
	Analysis by fund
	Unrestricted funds						2,174,082	2,471,042
	Restricted funds						146,438	129,359
							2,320,520	2,600,401
9	Support costs
			SuPPort Governance		2021	Support	Governance	2020
			costs	costs f.		costs	costsf
	Audit fees			8,055	8,055		7,865	7,865
	Legal and professional			173,585	173,585		187,895	187,895
	Trustees' expenses			42	42		2,300	2,300
				181,682	181,682		198,060	198,060
	Analysed between
	Charitable activities			181,682	181,682		198,060	198,060

								2021	2020
								Number	Number
	Direct charitable							48	50
	Employment	costs						2021	2020
								f	K
	Wages and salaries							832,269	903,379
	Social security costs							67,291	68,721
	Other pension costs							45,178	43,038
								944,738	1,015,138
	The number	of employees	whose		annual	remuneration	was 660,000 or
	more were:
								2021	2020
								Number	Number
	F90,001 - E100,000							1	1
12	Other
								Unrestricted	Unrestricted
								funds	funds
								2021	2020
	Net loss on disposal oftangible			fixed	assets			3,760

13	Tangible	fixed assets	fixed assets
					Land and	Plant and	Fixtures, Motor vehicles		Total
					buildings	machinery	fittings 8
							equipment
							f
	Cost
	At 1 April	2020			359,121	110,602	441,665	73,476	984,864
	Additions					26,721	13,725		40,446
	Disposals					(10,280)			(10,280)
	At 31 March		2021		359,121	127,043	455,390	73,476	1,015,030
	Depreciation		and impairment
	At 1 April	2020			57,469	102,604	371,927	71,749	603,749
	Depreciation		charged	in the year	7,188	8,479	36,933		52,600
	Eliminated	in	respect ofdisposals			(2,820)			(2,820)
	At 31 March		2021		64,657	108,263	408,860	71,749	653,529
	Carrying	amount
	At 31 March		2021		294,464	18,780	46,530	1,727	361,501
	At 31 March		2020		301,652	7,998	69,739	1,727	381,116

Heritage assets
	Residential,
	commercial
	and otherf
At 1 April 2020	34,302,507
Purchases	157,321
Revaluation	590,786
At 31 March 2021	35,050,614

15	Fixed asset	investments	investments	investments
														Other
													investments
	Cost or valuation
	At 1 April 2020 &31 March 2021
	Carrying amount
	At 31 March	2021
	At 31 March	2020
												2021		2020
	Other investments		comprise:							Notes			6	6
	Investments	in subsidiaries								16
16	Subsidiaries
	Details ofthe	charitable		company's		subsidiaries			at 31 March 2021	are as	follows:
	Name of undertaking				Registered			Nature ofbusiness			Class of		'/0 Held
					office						shares	held	Direct	Indirect
	Sunlight Vision Limited				23 King			Dormant			Ordinary		10000
					George's		Drive,
					Port Sunlight,
					Wirral, CH62
					5DX
17	Stocks
												2021		2020
													8
	Raw materials	and	consumables									22,366		22,123
18	Debtors
												2021		2020
	Amounts falling due within				one year:
	Trade debtors											44,	109	80,782
	Prepayments	and	accrued income									18,404		64,819
												62,513		145,601

19	Creditors: amounts	falling due within one year
				2021	2020
			Notes	8	6
	Bankloans		21	96,935	92,878
	Other taxation and social security			83,295	85,453
	Deferred income			762,727	73,845
	Trade creditors			125,209	104,050
	Other creditors			44,327	35,700
	Accruals and deferred	income		32,581	100,753
				1,145,074	492,679
20	Creditors: amounts	falling due after more than one year
				2021	2020
			Notes
	Bank loans		21	656,858	753,793
21	Loans and overdrafts
				2021	2020
					8
	Bank loans			753,793	846,671
	Payable within one year			96,935	92,878
	Payable after one year			656,858	753,793

	market rate	s.
22	Provisions	for liabilities		2021	2020
			Notes
	Retirement	benefit obligations	23	259,000
				259,000

Defined benefit schemes Key assumptions
		2021
Discount rate		2.1
Expected rate ofincrease ofpensions	in payment	2.8
Expected rate ofsalary increases		4.2
CPI inflation		2.7

The ass	umed life expectations on retirement at age 65are:
		2021
		Years
Retiring	today
- Males		21
- Females		24.1
Retiring	in 20 years
-Males		22.6
- Females		26

The defined	benefit obligations	arise from plans which are wholly or partly funded.
Equity instruments			1,024,000
Debt instruments			767,000
Property			177,000
Cash			131,000
Other			473,000
			2,572,000

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	Other transactions
	PSVT has a wholly owned		subsidiary,		Sunlight		Vision		Limited.	At the year end	this company	was dormant
	and is retained should	it be	required	for	future		trading	activities.
29	Cash generated from	operations									2021f	2020
	Surplus for the year										1,401,277	918,816
	Adjustments for:
	Investment income recognised in statement					of	financial		activities		(2,013)	(5,980)
	Loss on disposal oftangible		fixed assets								3,760
	Depreciation and impairment		oftangible		fixed assets						52,600	57,623
	Movements in working	capital:
	(Increase)/decrease in	stocks									(243)	606
	Decrease in debtors										83,088	749,364
	(Decrease) in creditors										(40,544)	(128,690)
	Increase in deferred income										688,882	15,790
	Cash generated from	operations									2,186,807	1,607,529
30	Analysis ofchanges	in net funds
										At 1 April 2020	Cash SowsAt f	31 March 2021 f
	Cash at bank and in hand									3,160,791	1,901,875	5,062,666
	Loans falling due within	one	year							(92,878)	(4,057)	(96,935)
	Loans falling due after	more	than one year							(753,793)	96,935	(656,858)
										2,314,120	1,994,753	4,308,873