Stretham Charity REPORT AND UNAUDrrED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
Stretham Charity Contents For the Year Ended 31 December 2020 Page Charity Reference & Administrative deLiils Trustees Annual Report Statement of Trustees responsibilities Independent Examiners Report Unaudited consolidated Statement of financial artivities Charity Statement of Financial Position Notes fomiing part of the financial statements &13
Stretham Charity Charty reference & administrative detsils For the Year Ended 31 December 2020 Trustees Ex Officio Trustee: Rev. Natalie Andrews Nominated Trustees= Mr. K. Petherick IChairm3nl Mr. T. Yardy Miss J. Parish Ivice Ch8irl Mr. P. Saunt Mr. P Speed Co-opted Trustees: Mr. A. Murfitt Mrs S. Moor Mrs. E. Rayner Ms K. Clerk Clerk Ms J. Taylor Correspondence Address: 4 Top Street Stretham Ely Cambridgeshire CB6 3JL Bankers Lloyds TSB Bank Minster Place Ely Cambridgeshire Independent Examiner.. Mr. James Fordham ACPA Fordham Finance Group LTD 100 Clay Street Soh3m Ely Cambridgeshire CB75HL Charity Registration No= 1076863
Stretham Chartty Trustees Annual Report For the Year Ended 31 December 2020 Stretham Charity started in 1553 when the Revd. Dr Richard Rysley, then Rector of Stretham, left bequests to assi5tthe poor of Stretham. and to help with their education- his foresight and generosity continued in every parish to which he was called. Later bequests by local resider¢t Mrs Martha Digby. and by Lady Effingham Howard, were added, and all are now administered together underthe Charty Commission's Regulating Scheme No. 1076863 of I" July 1999, and in accordance with the ChariW5 Standing Orders. There should be nine Trustees including the Team Vicar of Stretham lex-ofFiciol, and five nominees from Stretham P3rish Council who each see forfouryears. Trustees together appoint a further three members who each serve for five year5. All newly-appointed Trustees are provided inter-olfto with copy of the Regulating Scheme, Standing Orders, copies of the last two Annual Reports and Accounts, and Minutes ofthe last Ordinary Meetings. All Twstees sign an Acceptance of Office. In July 2020, Kier Petherickwas reelected as Chaim)an and Peter Saunt wa5 elected asvice Chairman. the january meeting could not be attended by Kier so the election was pushed back, due to Covid this wasn't then possible until July 2020. In May Natalie Andrews the team vicar took another position within the Church as was no longer the Vicar of Stretham. Until a new Vicar is appointed the charity will be down a trustee. The net income of the Charity has to be applied in the following manner-.- Up to 20% of the said income shall be applied for the promotion of education in the parish of Stretham in such ways as the Trustees think fit. and The remaining income shall be applied for the relief of persons, including widows and widowers resident in the parish of Stretham, who are in conditions of need, hardship, or distress. either in gifts in kind orgrants of money, which may include grants to any almshouse or other charitsble institution established for the benefit of such persons. In 2020 the Charivs income was £39.88212019= £38.3331 and grants were made frorn income andlor reserves in accordance with the objects of the Charity, having regard to its limitations. When considering applications for help wilh education fees. costs of study material, travel, courses, etc.. the Trustees have also had regard to any hardship or need fartor in the household affecting the applicant, which may override any purely educational consideration. A revised Terms of Reference was provided to the Trustees to assist them with the allocation of Grants. During 2020 our relationship continued wwth the community care organisation and via the Happy Helpers continued to fund assistance for families of low Income in the home. Our relationship with the school has continued and we have awarded grants for children from low income families to attend the school trips. the school was in need of a new oven which the trustees were considerin& however due to covid and lock down the oven was needed to provide meals to the older members of the community who were isolating. This was a great success and the parish council and school worked together to provide hot meals daily to many people in the village. The Trustees also supported scrub making for the NHS works by providing funds for cotton for the 5eamstres5es to make the garments. Support for the local play group to assist them wtth opening hour5 and equipment was made. The trustees consider pre school year learning establishment of great importance to the development of the village children and will continue to support this when possible.
Stretham Charity Trustees Annual Report {continued} For the Year Ended 31 December 2020 In 2020 grants were made as follows:_ Hardship Education H3rd5hip grants to widowslwidowers: Grants allocated education I hardship- 30 Grants 33 Grants 3.000 9.015 1.919 Total grants £13.93412019- £14,311) The Charitls income 15 from agricura1 land and allotments. five cottages in Stretham, and a proportion of income from land at Upton, fornierly in the freehold of Dr. Rysley the Charity's principal benefactor, the Upton land being managed by Chrisf 5 College, Cambridge. The Rysley Property Reserve is invested in the Equities Investment Fund for Charities IM&G Charifund Accumulation Unitsl valued at £108,511 as at 31 December 2020. Routine paIrS and maintenance of properties is funded from their income. The Charity own5 four eottages in Top Street, and 29a High Street which are let. Three cottages and 29a are on Assured Shorthold tenancies and one cottage is on a Regulated Tenancy. The Property at 29a High Street continues to be let out. The condition of the outbuildings used as sheds was discussed and the Trustees will be working towards updating these in 2021 The freehold agricultural 13nd tenancy has been reviewed, as the four year grazing agreements are due to be renewed in 2020 and a rental increase could be applied. One years notice was served to allow for rent increase. The Uptake of allotments has improved this year with the addition of metal gate, fenting and the installation of a vrater supply. Notice has been given to the allotment holders for the rental increase from Ortober 2020. The trustees are still considering the allotment site or part of for the community facility and additional housing. The Charity receives many enquiries for small affordable rentals and the trustees feel this could be an opportunityto beable to assist. The allotment land 15 at present outside of the permitted development area of Stretham. but its extent and proximity to the village centre, and long-terni development potential. needs to be watched by the Trustees. General funds of the Charity stood at £318.750 at 31st December 202012019.. 31)4.44813nd the Trustee< policy is to keep a cash on hand balance of £15,000 to £20,000 to ensure that adequate funds are available to meet unforeseen requests for help. During 2021 the trustees will review this and look at moving funds to our long terrn M & G Charifund account. Ourclerk 15 Ms JoanneTaylor, of 4. Topstreet. Stretham. Ely. Cambs. Jo can be contacted bytelephone 07761655511. Email- strethamcha lerk mail.com
Stretham Charity Trustees, Sponsibl1[ty statement For the Year Ended 31 December 2020 Trustees, responsibilities statement The trustees are responsible for prepartng the Trustees. Report and the financial statements in accordance with applicable law and United Kingdom Accounting Stsndards Iunited Kingdom Generally Accepted Accounting Prarticel The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of SOurceS of the charity forthat period. In preparing these financial statements, the trustees are required to- Selert Sultable accounting policies and then apply them conslstently: Observe the methods and principles in the Charities SORP: Make judgements and estimates that are re3sor13ble and prudent,. State whether applicable accounting standards have been followed, subjett to any material departures distlosed and explained in the financial statements- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charty will continue in operation The tnjstees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. the Charity (Accounts and Report51 regulations 2008 and trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Mr K Petherick Chairman Date . zg109 I
Stretham Charity Independent Examinerfs Report For the Year Ended 31 December 2020 I report to the trustees on my examination of the consolidated finanaal statements of Stretharn Chartty forthe year ended 31, December 2020. which are set out on pages 6- 13. Responsibilrfties and basis ol report As the trustee5 of the charity you are respOlbIe for the preparation of the financial statements in accordance with the requirements of the Companies Act 2(X)61'the 2006 ACVI. Having satisfied myself that the financial statements of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination I report in respect of my examination of your charivs accounts a5 carried out under section 145 of the Chartties Act 20111'the 2011 ACYI. In carrying out my examination I havefollowed the Direction5given bythe Charity Commission under section 14515llbl of the 2011 An independent examination does not involvegathering allthe eviden that would be required in an audit 3nd consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goe5 beyond the limited assurance that an independent exarninatton can provide. Consequently. l express no opinion as to whetherthe financial Statements present a'true and fairviev/ and rny report 15 limited to those specific matters Set out in the independent examinerfs statement. Independent examinerfs statement I have cornpleted my examination. I confirm that no material matters have come to my attention in conrbertion with the examination giwng me re350nable cause to believe that in any material respErt.' accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or the financial statements do not accor(I with those record5- or the financi31 statements do not comply wr(h the accounting requirements of section 396 of the 2(#)6 Act oiher than any requirement that the financial staternents gNe a 'true and fair VTre which is not a matter considered as part of èn independent examination,. or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice.. Accounting and Reporting by Charitie5 applicable to charities preparing their financial 5taternents in accordance with the Financial Reporting Standard applicable in the UK and Ireland IFRS 1021. I have no c0Thrn$ and have come across no other Tnatters in connection with the examination to which attention should be drawn in thi5 report in order to enable a proper understanding of the financial statements to be reached. Signed: 7hfrdi Name.. Jtymes Fordhom ACPA Name of applicable listed body-. Certjfied PublicAccountontsAssociotion fCPAA) On behalf of Fordham Finance Group LTD Address.. 8&90 Paul Street, London EC2A 4NE Date= 2V0912021
Stretham Charity Una¥Jdited consolidated statement of financial activities For the Year Ended 31 December 2020 Endowment Fur 2020 Total fvnds 2019 Total funds Furos Incomefram: Rents Cottages Allotn7ents Upton RysleyTrust Donations 34.681 3.930 1.221 34,681 3.930 1,221 50 39,882 27,858 3,268 1,176 39.882 32,302 Investments 6,031 Total income 39.882 39,882 38,333 Expendhure on- ChuritableArttvitre5 Grant5 & assistsnce payments 12 13,934 13.934 14,311 Otherexpenditure Charityoperations 11.646 11,646 10.207 Total expendittire 25.580 25.580 24.518 Net gainsl Ilossesl on investmÈnts 116,(K531 17,253 Net intome I lexpendiiurel 11.7611 11,7611 31.068 Transfers between fvnds Net movement ID funds 14 11,7611 11.7611 31,068 Reconcmiotkni offvnds Total funds brought forward 429.022 i.oio.i(KJ 1.439,122 L408,OS4 Totsl funds orried fon¥¥d 427261 L0.1 IA37.361 IA39,122
Stretham Charrty Charity Statement of Financial Position As at 31 December 2020 Charity 2020 Charity 2019 Fixed assets Buildings & Land Fixtures and equipment Investments 1,260,0 19,961 108,511 1,260,000 21,825 124,574 Total fixed assets 1,388,472 1,406,399 Currerrt assets Debtors Cash at bank and in hand 50,948 34,782 Totsl current assets 50,948 34,782 Creditors: amounts falling due within one year 2,059 2.059 Net current assets 48,889 32.723 Totsl net assets 1,437,361 1,439,122 The funds of the charity Unrestrirtedfund5 General fund Rysley Property Reserve Ertdowmentsfvnds Permanent Endowments fund io 318.750 108.511 304,448 124,574 li i.0io,l(K) i.oio,100 Total fund5 1,437.361 1,439.122 Mr K Petherick Ms. Jo Taylor Chaimian Clerk Date- Date:
Stretham Charity Notes forming part of the financial rtatements For the Year Ended 310ecember 2020 l. Accounting poli¢ies (a) TGngiblefixed assets ond deplotion Depreciation is calculated on tangible assets at rates calculated to write off the cost, less estimated residual value of each asset over its expected useful life as follows- Fixtures and equipment IO% per annum on a straight-line basis Individual fixed assets costing £5CK) or more are capttalised at cost. (b) Reolised gains losses All gains and losses are taken to the Statement of Financial Artivities as they arise. Realised gains 2nd losses on investments are calculated as the difference between sales proceeds and their opening carrying value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unreali5ed investment gains and losses are combined in the Statement of Frnancial Activities. (c) Debtors Trade and other debtors are recognised and the settlement due after any discount offered. Prepayments are valued at the amount prepaid net of any discounts due. (d) Creditors orprovisions Creditors and provisions are recognised where the chartty has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation tan be mèasured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. (e) Funds accounting Funds held by the tharitable group are-. Unrestricted generol funds - these are funds which can be used in accordance with the charitable objetts at the discretion of the tru5tee5. PermunentEndowmentfunds- Long terni assets longing to the charity which cannot be expended for general use. The income derived from the permanent endowment fund is unrestricted and can be used by the charity to fulfil its objectives. Further explanation of the nature and purposes of each fund is included in the notes to the accounts.
Stretham Charty Notes fomiing part of the financial statements (continued) For the Year Ended 31 December 2020 2. Critical accounting estimates and areas of judgement Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors. including expectations of future events that are believed to be reasonable under the circumstances. Criticol accounting estimates and ossumptions The tharwty makes estimates and assumption5 concerning the future. The SuItIng accounting estimates and assumptions will. by definition, seldom equal the related actual results. There are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. Critical oret75 ofiudgement The trustees do not consider there to be any critical areas of judgement that have a significant effect on the amounts recognised in the financial statements. Legal status of the tharity The charity is a trust registered under the Charity Commission Scheme dated I" July 1999. Emplownent Costs The charity did not have any employee5 during the year.12019.. 01 5. Trustee remuneratii>n and expenses During the year, no trustee received remuneration for Services rendered to the charity in relation to maintenance work on the allotment. 2020 2019 310 TERRY ARTHUR YARDY
Stretham Chartty Notes forming part of the financial statements Icontinued} For the Year Ended 31 December 2020 6. Tangible Assets Long leasehold land and buildings Fixtures & equipment Charity Total Cost At l January 2019 Additions Disposals 1,260.0(X) 21.825 1,281,825 At 31 December 2019 1,260,iX)O 21.825 1.281,825 Depreciotion At l January 2020 Provided for the year Dispos315 1,864 1,864 At 31 December 2020 1.864 1,864 Net book volue At 31 December 2020 1.260.000 19,961 1,279.961 At 31 December 2019 1,260,0(XI 21.825 1,281,825 Investments 2020 Market Value At I lanu3ry 2020 Additions Net investment gains/llossesl 124.574 116,063) At 31 December 2020 108.511 Cost at 31 December 2020 9882 Net unrealised gains1llossesl included in net investment 9,629 All investments are carried at their fair value. Investments in equities are all traded in quoted public markets, primarily the London Stock Exchange. The basis for fair value for quoted investments is equivalent to market value. using the bid price. Asset sales and purchases are recognised at the date of trade at cost (that is their market value). io
Stretham Charity Notes forming part of the financial statements Icontinuedl For the Year Ended 31 December 2020 7. Investments (continued) The significance of financial instruments on the ongoing financial sustainability of the charity is considered in the financial review and investment policy and performance sections of the trustees, annual report. The main risk to the chartty from financial instruments lies in a combination of uncertain markets and volatility of equty income. The charity manages these risks by operating a policy ot investing in common investment funds principally designed for charities, which are quoted on recognised stock exchanges. Consequently, there is a low risk to liquidity- The charity also principally holds its investment portfolio with a view to maintsining a longer term return and as such would expect short term volatility will be corrected in the longer term. 8. Creditors.. amounts falling due within one year 2020 2019 Trade creditors 1,159 1,159 Other taxes and social security costs Accruals and deferred income 900 900 2,059 2,059 9. Accounting policies The accounts have been prepared in accordance with the provisions of FRS 102 Section IA Small Entities. There were no material departures from this standard. li
Stretham Charity Notes forming part of the financial statements Icontinued) For the Year Ended 31 December 2020 10. Unrestricted funds Total 2020 Totsl 2019 General Fund Property Reserve Balance at l Jan 2020 124.S74 429,022 397.954 Net income/lexpenditurel 14,302 14,302 13,815 Net Investment 8ain 116.0631 116,0631 17.253 Transfers Balance at 31 Dei 2020 318.750 108.511 427,261 429,022 11. Endowments Funds Current year Balance l January 2020 Balan¢e 31 December 2020 Intome Expenditure Pemanent Endowments Fuftd I,oio.I I,oio,l) Total Endowment funds I,oio,I I,oio.ioo The permanent endowment fund consists of Approximately Thirty-two acres of land in Starlock and Hay Fen Common, Stretham, as detailed in the Charity Commission's Regulating Scheme of 1913. Four cottage5, No's. 8, 10. 12 & 14, Top Street, Stretham. buiFt in 1844. Entitlement to a proportion of the rent arising from an estate at Upton. Cambridgeshire, as detailed in the Charity Commission's Regulating Scheme of 1913, the land being the property of Christ, s College, Cambridge. The income is pro)rided to the charity on an unrestricted basis ft)r general use in pursuit of the charivs overall objectives. 12
Stretham Charity Note5 forFning part of the financial statements Icontinued) For the Year Ended 31 December 2020 . Expenditure on Charitable Activtties 2020 Total 2019 Total Cost dirertly allocated to artwities Basi5 of allocation Charitsble expenditure 8,426 2,585 3.300 Hardship Grants Education Grants Widow Grants SWF Grants Happy Helpers Assistance Direct Direct Direct Direct Dirert 7.507 1,919 9,015 1,919 1,508 1,913 13,934 13,934 16,224 13. Other expenditure Totsl 2020 Totsl 2019 1,203 744 510 3,165 918 274 Property Repairs & Maintenance Insurance Allotment Maintenan Clerk's honorarium Accountancy & examination Rates Website Legal Expenses Light & Heat Depreciation Sundry Expenses 3.703 609 3.100 900 274 420 181 1864 1,300 11.646 8,294 14. Movements in ti)tsl lund5 forthe year This is stated after charging- 2020 2019 Accountanys remuneratior4 for independent examination 900 900 13