BALDWIN'S BRIDGE TRUST
FINANCIAL STATEMENTS
31 MARCH 2021
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|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|
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||||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||||||
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||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|||||||||||||||