2021-03-31-accounts - Baldwin's Bridge Trust

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BALDWIN'S BRIDGE TRUST FINANCIAL STATEMENTS 31 MARCH 2021

Contents	Page
REFERENCE AND ADMINISTRATIVE DETAILS
REPORT OF THE TRUSTEES	2 —4
REPORT OF THE INDEPENDENT EXAMINER
STATEMENT OF FINANCIAL ACTIVITIES
BALANCE SHEET
NOTES TO THE FINANCIAL STATEMENTS	8 —13

			Note	Note		Unrestticted	Endowment			Total 2021	Total 2020
						funds 5	funds	f
',INCOME AND ENDOWMENTS
j'Investments				2		242,990				242,990	248,573!
											1
j Charitable activities
:Institute lettings						233				233+	32,766
, Total income						243,223				243,223	281,339
, EXPENDITURE
iCharitable activities
'Grants and donations						22,045, '				22,04	27,745 I
ilnsbtute operating	costs					24,779:				24,779	38,845'
',Other expenditure				4	I	13,837.				13,837	16,546
						60,661				60,661	83,136
,Property Costs
'Building repairs and insurance						61,54 ~-J					95,665
Pioperty management		costs				43,558					41,693
			T			105,106				105,106	137,358
lGovernance costs !						2,000				2,000	3,480
I Total expenditure						167,767				167,767	223,974
Net income/(expenditure)						75,456	I			75,456-+	57,365
before investment	gains/(losses)
, Net (losses)/gains	on			8		119,3377				119,337i	(110,508)!
investments
,Net (expenditure)	and					194,79V				194,793	(53,143) t
'net movement in	funds
Reconciliation of	funds
tTotal funds brought	forward					555,497	4,956,750		i	5,512,247	5,565,3901
ITotal funds carried forward			T			750,290	4,956,750			5,707,040	5,512,247
The notes on pages 8to 13form			part	of	these finanaal		statements.

			Note	2021	2020
				E	E
Fixed Assets
Investments				5,569,059	5,430,648
Current Assets
Debtors				28,705	19,510
Cash at Bank and	in	hand		115,267	75,648
Total current assets				143,972	95,158
Creditors: amounts within one year		falling due	10	5,991	13,559
Net current assets				137,981	81,599
TOTAL NETASSETS OR UABIUTIES				5,707,040	5,512,247
Funds ofthe Charity
Endowment funds			11	4,956,750	4,956,750
Unrestricted funds			12	750,290	555,497
Total Funds				5,707,040	5,512,247
Approved by the	Board ofTrustees			Date	rf /cv/ Zgg 2
and signed on Its	behalf by
7~u&c~
LTarbox
Trustee

										'
									2021		2020i
I	2. Investment income
'From rent received		on investment			properties				223,877:		225,849'
:From investments		listed on	a	recognised		stock	exchange		19,073i		22,621;
.,'Other bank interest									40t		103
									242,990		248,573
	3. Grants and donations		made
	Donation to Thames Hospice								15,000;		15,000
', ,	Donation to Eton	Com. Assoc, Xmas				Lights	/ Bames Pool		1,000	j	1,000
	Donation to Eton	Wick Football			8 Social Club - Roof Repairs						5,000	I
i	Donation to Red	Cross							1,000	j		'
i	Donation to Eton	Parochial		Church							1,500
'Eton Wick Scouts									1,000',
i
	Donation to Eton	Wick School - IT									1,500	i
,	Other donations								4,045		3,745	'
									22,045		27,745
:All ofthe donations were			in	the	interest ofthe Eton and			Eton Wick public	benefit, by way ofassisting
,	Other charitable	activities	with their general				expenditure	or the purchase	ofequipment.
	4. Other expenditure
	Clerk salary/fees and expenses								6,150j		6,162:
i	Treasurer fee and	expenses							7,687	',	9,563
iSundry expenses											821;
									13,837
	5. Governance costs
'	Independent Examination fee								2,000
!Audit Fee											3,480'
									2,000		3,480
',	6. Payroll costs
I	Salary cost								13,325		13,243
;	No ofemployees										2::

j7. Tangible Fixed Assets	j7. Tangible Fixed Assets	j7. Tangible Fixed Assets	j7. Tangible Fixed Assets							—t
	Baldwinis		Brid e Trust is the beneficial 9	own		ero	f	Baldwin's			Biid e g,	Hi h Street g		Eton an inte		9	ral
j	part ofthe roadway ofEton. This fixed			asset is			not iecorded				in the	financial statements as			(a) it			is
jinalienable			and ofan historical nature (b) canriot					be disposed of(c) ieliable cost information									is
,'not available and conventional valuation					approaches				lack sufficient			reliability	and (d) the costs
'	to include		would far exceed the benefits.
'	Baldwin's		Bridge is insured for 'Property		damage'			off6,846,513
	8. Fixed		Asset Investments									2021
												UK		UK
											freehol			quoted
	Carrying	(fair) value as at 1 April 2020									propertte+ Investments f, f— 473,898 ' 4,956,750							Total ' 5,430,648;
,Additions			to investments during period											19,074i				19,074. i'
.'Disposals			at carrying value
i	Add net gain/ (loss) on revaluation 31/03/21													119,337				119,337
	Carrying		(fair) value at 31 March 2021								4,956,750			612,309				5,569,059
	Net cash		released from investments in	the year			. was fnil			-t (2020 -		fnil).
	Historical		cost as at 31 March 2021									96,721 I		425,6 5'
												i
												20 20
												UK~		UK
											freehold			quoted
											f properties		investmentsf					Total;
i	Carrying		(fair) value as at 1 April 2019								4,956,750			561,785i				5,518,535
,'Additions			to investments during period											22,621				22,621
i	Disposals		at carrying value
I	Add net gain/ (loss) on revaluation 31/03/20													(110,508)				(110,508)	'
i	Carrying		(fair) value at 31 March 2020								4,956,750			473,898				5,430,648
C
,	Net cash		released from investments		in 2020 was				fnil		(2019-f25,000).
												T
'Historical			cost as at 31 March 2020									96,721		406,621~
;The freehold investment properties				were revalued					at 31 March 2017 by					Kempton Carr Croft,
I Chartered Surveyors based on the carrying (fair) value ofthe properties. I— T !aware ofany material changes since this valuation.														The trustees			are not

8. Fixed Asset Investments (continued)
As at 31 March 2021
;The UK quoted investments at fair value comprised:						Value,		Portfolio'I
M&G Charifund (accumulating)i ,				'		8' 301,836l			%age 51
BlackRock Charishare (accumulating)						310,473			49
						612,309			100
In December 2014the investment with CCLA	COIF fund		was liquidated. This fund was historically
linked to Pote Benwell Simpson and on encashment			produced	221,000.The Trustees				agreed:
;that the Christmas voucher scheme be continued		as long as it was			considered appropriate.
'9. Debtors						2021 i			2020 I
Other debtors	..I					28,705		19,510
--.—..---....--.- —--—-.+—.--.—.—.-—. —.—— —. ,10.Creditors;				.-.—. --.———— + i 2021 i					2020
Trade creditors						1901 i			7,723'.
Taxation and social security costs						2091 I			1009',
Other creditors
Accruals and deferred income						1999'			4827'
						5,991		13,559
11. Endowments	I		Balance at',		unrealised'		Balance atl
			1 April 2020:,			gainl31	March		2021
			f'			8'			Ki
				,
Permanent endowments:
Freehold investment properties			4,956,750				4,956,750
iThe properties were obtained by the Trust	many	years ago and		no	legal documentation
can now be found to identify the specific wishes		of	the donors.	The	trustees have
determined that the best course ofaction is to regard such requests					as	permanent
endowments i.e.capital funds where there	is no	power to convert the capital into income
and which must be held indefinitely

12. Analysis of net	assets	assets	between	funds	funds	'	Unrestricted,	Unrestricted,		Endowment;	Endowment;		Total	i
								fund	i		funds	'	funds
						r
,Fund balances at 31 March		2021 are represented					by:
Investments								612,309		4,956,750		'	5,569,059	I
Current assets								143,972					143,972'
Current liabilities								(5,991)					(5,991)
								750,290		4,956,750			5,707,040
lUnrealised gains induded		above						L
;on investment assets								67,278	j	4,860,029		i	4,927,307	''
									T
,Reconciliation of movements			in unrealised		gain on			investments		assets
Unrealised gains at 1	April 2020							67,278		4,860,029			4,927,307	l
Less Disposals
Plus net gains arising	on	revaluations		in year				119,337					119,337
lUnrealised gains at 31 March			2021					186,615		4,860,029			5,046,644
.'13. Taxation