| Page | |||
|---|---|---|---|
| Reference and administrative | details ofthe charity, its Trustees and advisers | ||
| Trustees' report |
2 —7 | ||
| Independent auditors' |
report | on the financial statements | 8 —11 |
| Statement ofcomprehensive | income | 12 | |
| Statement offinancial | activities | 13 | |
| Balance sheet | |||
| Statement ofcash flows | 15 | ||
| Notes to the financial | statements | 16-27 |
| Trustees | Stephen Hole, Chairman |
Stephen Hole, Chairman |
||||
|---|---|---|---|---|---|---|
| Paul Northmore | ||||||
| Ronald Brown |
||||||
| Michael Foster (resigned | 1 April 2021) | |||||
| James Lewis | ||||||
| Thomas Roden | ||||||
| David Marks (appointed | 13 | May 2020) | ||||
| Charity registered | ||||||
| number | 1076364 | |||||
| Principal | office | Charity Trust Office | ||||
| 41 Hele's Terrace | ||||||
| Prince Rock | ||||||
| Plymouth | ||||||
| PL4 9LH | ||||||
| Housing | corporation | A4273 | ||||
| number | ||||||
| Senior Staff | Samantha Easton, Trust |
Manager | ||||
| Benita Merrin, Trust Administrator | ||||||
| Independent | auditors | Bishop Fleming | LLP | |||
| Chartered Accountants |
||||||
| Salt Quay House | ||||||
| 4 North East Quay | ||||||
| Sutton Harbour | ||||||
| Plymouth | ||||||
| PL4 OBN | ||||||
| Bankers | Nat West Plc | |||||
| Business Centre | ||||||
| StAndrews Cross |
||||||
| Plymouth | ||||||
| Solicitors | Roper James Solicitors | |||||
| 3StAndrew Street | ||||||
| Plymouth | ||||||
| Devon | ||||||
| PL1 2AH | ||||||
| Investment | Advisor | John Wilkinson | ||||
| lnvestec Wealth | 8 Investment | Ltd | ||||
| The Plaza | ||||||
| 100Old Hall Street | ||||||
| Liverpool | ||||||
| L3 9AB |
| Note | 2021 | 2020 | ||
|---|---|---|---|---|
| Turnover | 3 | 509,282 | 492,372 | |
| Operating | costs | 4 | (330,755) | (276,357) |
| Operating | surplus | 178,527 | 216,015 | |
| Investment | income | 21,898 | 17,240 | |
| Movement | in fair value offinancial assets | 201,080 | (76,089) | |
| Surplus for the year | 401,505 | 157,166 |
| Unrestricted | Total | Total | |||
|---|---|---|---|---|---|
| funds | funds | funds | |||
| 2021 | 2021 | 2020 | |||
| Note | E | ||||
| INCOME FROM: | |||||
| Charitable activities |
509,282 | 509,282 | 492,372 | ||
| Investments | 21,898 | 21,898 | 17,240 | ||
| TOTAL INCOME | |||||
| 531 180 | 531 1&0 | 509612 | |||
| EXPENDITURE ON: | |||||
| Charitable activities |
330,755 | 330,755 | 276,357 | ||
| TOTAL EXPENDITURE | |||||
| 330755 | 330755 | 276 357 | |||
| Net (losses)/gains | on investments | 201,080 | 201,080 | (76,089) | |
| NET MOVEMENT | IN FUNDS | ||||
| RECONCILIATION | OF FUNDS." | ||||
| Total funds brought | forward | 13 | 3,380,601 | 3,380„601 | 3,223,435 |
| Net movement in funds |
13 | 401,505 | 401,505 | 157,166 | |
| TOTAL FUNDS CARRIED FORWARD | |||||
| 01 |
| 2021 | 2020 | |||||||
|---|---|---|---|---|---|---|---|---|
| Note | ||||||||
| FIXEDASSETS | ||||||||
| Tangible assets | 2,984,008 | 2,957,139 | ||||||
| Investments | 1,351,436 | 940,165 | ||||||
| 4,335,444 | 3,897,304 | |||||||
| CURRENT ASSETS | ||||||||
| Debtors | 9 | 33,307 | 27,504 | |||||
| Investments | 10,16 | 672,292 | 721,739 | |||||
| Cash at bank and | in hand | 16 | 135,706 | 118,200 | ||||
| 841,305 | 867,443 | |||||||
| Creditors. amounts | falling | due within one | ||||||
| year | (45,725) | (35,228) | ||||||
| NET CURRENT ASSETS | 795,580 | 832,215 | ||||||
| TOTAL ASSETSLESSCURRENT | ||||||||
| LIABILITIES | 5,131,024 | 4,729,519 | ||||||
| Creditors: amounts | falling | due after more | ||||||
| than one year | 12 | (1,348,918) | (1,348,918) | |||||
| TOTAL NET ASSETS | ~i~61 | |||||||
| CHARITY FUNDS | ||||||||
| Restricted funds |
13 | |||||||
| Unrestricted funds |
13 | 3,782,106 | 3,380,601 | |||||
| TOTAL FUNDS | ||||||||
| The financial statements | were approved | and authorised | for issue by | the Trustees on | 2. l | S~~bm ZC2 |
l | |
| and signed on their behalf by: |
| 2021f | 2020 F |
|||
|---|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||
| Net cash | inflow from operating activities (Note 15) |
228,568 | 264,880 | |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||
| Purchase | oftangible fixed assets |
(60,509) | (29,725) | |
| Purchase | offixed asset investments | (200,000) | ||
| NET CASH USED IN INVESTING ACTIVITIES | (260,509) | (29,725) | ||
| CHANGE | IN CASH AND CASH EQUIVALENTS | IN THE YEAR | (31,941) | 235,155 |
| Cash and | cash equivalents at the beginning ofthe |
year | 839,939 | 604,784 |
| CASH AND CASH EQUIVALENTS AT THE END | OF THE YEAR | |||
| The notes | on pages 16to 27 form part ofthese financial statements |
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2021 | 2021 | 2020 | ||
| E | ||||
| Dividends | from listed investments | 21,611 | 21,611 | 16,894 |
| Bank interest received | 287 | 287 | 346 | |
| Total2020 | 17240 | 17240 |
| 2021 | 2020 | ||
|---|---|---|---|
| E | |||
| Rent receivable | 491,696 | 474,330 | |
| Supporting | people | 31,041 | 28,520 |
| Rent losses | from voids | (18,258) | (13,701) |
| Other income | 4 803 | 3223 | |
| Total | ~2 3~2 |
| Total | Total | ||
|---|---|---|---|
| 2021f | 2020 | ||
| Management | expenses | 4,505 | 2,566 |
| Service costs | 72,020 | 88,777 | |
| Finance and | administration | 91,164 | 42,628 |
| Staff costs | 129,701 | 115,684 | |
| Depreciation | 33,365 | 26,702 | |
| ~~75 | ~2~ |
| 2021f | 2020f | |||
|---|---|---|---|---|
| Depreciation oftangible |
fixed assets: | |||
| -owned by the Charity |
33,365 | 26,702 | ||
| Auditors' | remuneration | —audit | 5,295 | 4,726 |
| Auditors' | remuneration | —other services | 1,905 | 1,700 |
| Trustees' | indemnity insurance |
636 |
| 2021 | 2020 | ||
|---|---|---|---|
| E | |||
| Wages | and salaries | 119,375 | 103,882 |
| Social | security costs | 6,260 | |
| Other | pension costs | 2,066 | 11,802 |
| 129,ZEL | ~1M4. |
| 2021 | 2020 |
|---|---|
| No. | No. |
| 7. | TANGIBLE | FIXEDASSETS | |||||
|---|---|---|---|---|---|---|---|
| Freehold | Office | ||||||
| property | equipment | Total | |||||
| COST OR VALUATION | |||||||
| At 1 April 2020 | 2,838,122 | 281,252 | 3,119,374 | ||||
| Additions | 60,509 | 60,509 | |||||
| Disposals | (2,064) | (2,064) | |||||
| At 31 March | 2021 | 2,838,122 | 339,697 | 3,177,819 | |||
| DEPRECIATION | |||||||
| At 1 April 2020 | 162„235 | 162,235 | |||||
| Charge for the year | 33,365 | 33,365 | |||||
| On disposals | (1,789) | (1,789) | |||||
| At 31 March | 2021 | 193,811 | 193,811 | ||||
| NET BOOK | VALUE | ||||||
| At 31 March | 2021 | ||||||
| At 31 March | 2020 | 2 | 22 | ||||
| 8. | FIXEDASSET INVESTMENTS | ||||||
| Listed | |||||||
| securitiesf | |||||||
| MARKET VALUE | |||||||
| At 1 April 2020 | 940,165 | ||||||
| Additions | 425,437 | ||||||
| Disposals | (215,246) | ||||||
| Revaluation | gains/(losses) | 201,080 | |||||
| AT 31 MARCH 2021 | |||||||
| 21 |
| 9. | DEBTORS | |||||||
|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||||
| F | E | |||||||
| DUE WITHIN | ONE YEAR | |||||||
| Trade debtors | 11,781 | 7,189 | ||||||
| Prepayments | and | accrued | income | 21,526 | 20,315 | |||
| 27 | 50 | |||||||
| There | were no provisions | for bad | or doubtful | debts at the year end. | ||||
| 10. | CURRENT | ASSET INVESTMENTS | ||||||
| 2021 | 2020 | |||||||
| E | ||||||||
| General fund | ||||||||
| CAF Gold | Account | 164,941 | 144,842 | |||||
| Cyclical Maintenance | Fund (Hele's) | |||||||
| CAF Gold | Account | 205,273 | 295, | 105 | ||||
| Extraordinary | Repair Fund (Hele's) | |||||||
| CAF Gold | Account | 302078 | 281 | 792 | ||||
| ~721 | 9 |
| 2021 | 2020 | ||
|---|---|---|---|
| F | |||
| Trade creditors | 5,741 | 778 | |
| Other taxation and social | security | 3,120 | 2,407 |
| Other creditors | 201 | 559 | |
| Accruals and deferred income |
36,663 | 31,484 | |
| ~5 | 3522 | ||
| DEFERRED INCOME | |||
| Deferred income at 1 April |
2020 | 16,000 | |
| Resources deferred during |
the year | 21,679 | |
| Amounts released from previous years |
16000 | ||
| Deferred income at 31 March 2021 |
| 2021 | 2020 |
|---|---|
| f. |
| STATEMENT | OF | FUNDS | - CURRENT YEA | R | |||||
|---|---|---|---|---|---|---|---|---|---|
| Balance at | |||||||||
| Balance at | Transfers | Gains/ | 31 INarch | ||||||
| 1 April 2020 | Income | Expenditure | in/out | (Losses) f |
2021 | ||||
| DESIGNATED | FUNDS | ||||||||
| Extraordinary | Repair Fund | 281,792 | 20,286 | 302,078 | |||||
| Cyclical Maintenance | |||||||||
| Fund | 295,105 | (89,832) | 205,273 | ||||||
| Opportunities | fund | 1,085,007 | 230,290 | 201,080 | 1,516,377 | ||||
| Fixed assets | 1,608,221 | 26,869 | - | 1,635,090 | |||||
| 3270 125 | 187613 | ~201080 | 3658 818 | ||||||
| GENERAL FUNDS | |||||||||
| General Funds | 110476 | 531180 | ~330755 | ~187613 | 123288 | ||||
| Total Unrestricted | funds | 3380601 | 531 180 | ~330755 | ~201 080 | 3762106 | |||
| Total offunds | |||||||||
| STATEMENT | OF | FUNDS | - PRIOR YEAR | ||||||
| Balance at | |||||||||
| Balance at 1 | Transfers | Gains/ | 31 March | ||||||
| April 2019 | Income | Expenditure | in/out | (Losses) | 2020 | ||||
| E | F | P | |||||||
| DESIGNATED | FUNDS | ||||||||
| Extraordinary | Repair Fund | 101,615 | 180,177 | 281,792 | |||||
| Cyclical Maintenance | |||||||||
| Fund | 114,938 | 180,167 | 295,105 | ||||||
| Opportunities | fund | 1,249,001 | (87,905) | (76,809) | 1,085,007 | ||||
| Fixed assets | 1,605,198 | 3,023 | - | 1,608,221 | |||||
| 3 070 752 | 275 462 | ~76089 | 3270 125 | ||||||
| GENERAL FUNDS | |||||||||
| General Funds |
152683 | 509612 | ~276 357 | ~275 462 | 110476 | ||||
| Total Unrestricted | funds | 3223435 | 509612 | ~276 357 | ~76089 | 3380601 | |||
| Total offunds | ~22~4 ~061 | i~27 i~!~7 |
| Balance at | |||||||
|---|---|---|---|---|---|---|---|
| Balance at 1 | Transfers | Gains/ | 31 March | ||||
| April 2020 | Income E |
Expenditure f. |
in/out | (Losses) f. |
2021 f |
||
| Designated | funds | 3,270,125 | 187,613 | 201,080 | 3,658,818 | ||
| General funds | 110,476 | 531,180 | (330,755) | (187,613) | 123,288 |
| Balance at | |||||||
|---|---|---|---|---|---|---|---|
| Balance at 1 | Transfers | Gains/ | 31 March | ||||
| April 2019 | Income f. |
Expenditure | in/out f. |
(Losses) | 2019 F |
||
| Designated | funds | 3,070,752 | 275,462 | (76,089) | 3,270,125 | ||
| General funds | 152,683 | 509,612 | (276,357) | (275,462) | 110,476 | ||
| ~22~3 | 599,6~2 | ~27l~~7 |
| ANALYSIS O | F NET ASSETS BETWEEN FUNDS - CURRENT YEAR | ||
|---|---|---|---|
| Unrestricted | Total | ||
| funds | funds | ||
| 2021 | 2021 | ||
| E | F | ||
| Tangible fixed | assets | 2,984,008 | 2,984,008 |
| Fixed asset investments | 1,351,436 | 1,351,436 | |
| Current assets | 841,305 | 841,305 | |
| Creditors due | within one year | (45,725) | (45,725) |
| Creditors due | in more than one year | (1,348,918) | (1,348,918) |
| TOTAL | |||
| ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR | |||
| Unrestricted | Total | ||
| funds | funds | ||
| 2020 | 2020 | ||
| F | |||
| 2,957,139 | 2,957,139 | ||
| Tangible fixed | assets | ||
| 940,165 | 940,165 | ||
| Fixed asset investments | |||
| 867,443 | 867,443 | ||
| Current assets | |||
| (35,228) | (35,228) | ||
| Creditors due | within one year | ||
| (1,348,918) | (1,348,918) | ||
| Creditors due | in more than one year |
| 2021f | 2020 F |
|||||
|---|---|---|---|---|---|---|
| Net income for the year (as per Statement | ofFinancial Activities) | 401,505 | 157,166 | |||
| Adjustment for: |
||||||
| Depreciation charges |
33,365 | 26,702 | ||||
| Loss on sale offixed | assets | 275 | ||||
| Dividends, interest and rents from |
investments | (211,271) | 68,836 | |||
| Decrease/(increase) Increase in creditors |
in debtors | (5,803) 10497 |
2,800 9376 |
|||
| Net cash provided | by operating | activities | ||||
| 264 8 |
||||||
| ANALYSIS OF CASH AND CASH | EQUIVALENTS | |||||
| 2021 | 2020 | |||||
| E | F | |||||
| Cash in hand | 135,706 | 118,200 | ||||
| Notice deposits (less | than 3 months) | 672 292 | 721 739 | |||
| Total |