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||||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||||
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|||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||||
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|||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.||
##
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|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||||
##
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||||||||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||||
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|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|||
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||||||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|||||||
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