2021-12-31-accounts - The Apsley Paper Trail

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Report ofthe Trustees		I	to	6
Report ofthe Independent Auditors		7	to	9
Statement ofFinancial	Activities		10
Balance Sheet		11	to	12
Cash Flow Statement			13
Notes to the Financial	Statements	14	to	26
Detailed Statement of	Financial Activities	27	to	29

for the Year Ended 3	1	December 2021
						31.12.21	31.12.20
				Unrestricted	Restricted	Total	Total
				fund	fund	funds	funds
			Notes	f			f
INCOME AND ENDOWMENTS FROM
Donations and legacies				40,404		40,404	26,074
Charitable activities
Visitor centre				24,486		24,486	11,424
Grants				420,400		420,400	94,689
Paper trading Education and training				186,228	2,435	186,228 2,435	154,333 1,926
Investment income				306,462		306,462	322,942
Other income				14,113		14,113	17,268
Total				992,093	2,435	994,528	628,656
EXPENDITURE ON
Raising funds				294,480	7,408	301,888	180,025
Charitable activities
Visitor centre				160,762	7,408	168,170	103,819
Paper trading				2]2,370	5,927	218,297	112,793
Education and training				176,938	10,707	187,645	121,903
Other				89,141		89,141	69,199
Total				933,691	31,450	965,141	587,739
NET INCOME/(EXPENDITURE)				58,402	(29,015)	29,387	40,917
RECONCILIATION		OF FUNDS
Total funds brought	forward			1,800)513	1,079,028	2&879,541	2,838,624
TOTAL FUNDS CARRIED FORWARD				1,858,915	1,050,013	2,908,928	2,879,541

Balance Sheet 31 December 2021
					31.12.21	31.12.20
			Unrestricted	Restricted	Total	Total
			fund	fund	funds	funds
		Notes			f	f
FIXEDASSETS
Intangible assets Tangible assets		14 15	3,630 1,342,419	1,031,017	3,630 2@73,436	4,235 2,359,099
Heritage assets Investment property		16 I7	532,044 1,500,000		532,044 1,500,000	532,044 1,500,000
			3,378,093	1,031,017	4,409,110	4,395,378
CURRENT ASSETS
Stocks		18	6,404		6,404	11,444
Debtors		19	145,630		145,630	56,644
Cash at bank and in hand			227,183	21,996	249,179	310,344
			379,217	21,996	401413	378,432
CREDITORS
Amounts falling due within	one year	20	(457,984)	(3,000)	(460,984)	(419,469)
NET CURRENT ASSETS			(78,767)	18,996	(59,771)	(41,037)
TOTAL ASSETSLESSCURRENT
LIABILITIES			3,299326	1,050,013	4349339	4,354,341
CREDITORS
Amounts falling due after	more than one year	21	(1,440,411)		(1,440,411)	(1,474,800 )
NET ASSETS			1,858,915	1,050,013	2,908,928	2,879,541
FUNDS		25
Unrestricted funds					1,858,915	1,800,513
Restricted funds					1,050,013	1,079,028
TOTAL FUNDS					2,908,928	2,879,541

Cash Flow Statement for the Year Ended 31 Dece	mber 2021
			31.12.21	31.12.20
		Notes
Cash flows from operating activities Cash generated &om operations Interest paid		30	116,733 (34,491)	281,524 (27,961 )
Net cash provided by operating activities			82,242	253,563
Cash ilows from investing activities Purchase oftangible fixed assets			(53,001)	(47,337)
Sale oftangible fixed assets interest received			400 101	55
Net cash used in investing activities			(52,500)	(47,282)
Cash ilows from financing New loans in year Loan repayments in year	activities		(90,883)	50,000 (43,335)
Net cash (used in)/provided	by financing	activities	(90,883)	6,665
Change in cash and cash	equivalents	in
tbe reporting period			(61,141)	212,946
Cash and cash equivalents	at tbe
beginning ofthe reporting	period	31	310420	97,374
Cash and cash equivalents	at the end	of
the reporting period		31	249,179	310,320

		Percentage ofcosts
	Activity	allocated (%)	2019
Investment management		25	25
Visitor	centre	25	25
Grants		0	0
Paper	trading	20	20
Education and training		30	30

Freehold	property		-not provided
improvements to leasehold		property	-2%on cost
Plant and	machinery		-10%on cost
Fixtures and fittings			-20%on cost
Computer	equipment		-33%on cost
Heritage			-not provided

Notes to the Financial	Notes to the Financial	Statements	Statements	Statements	- continued	- continued
for the Year Ended 31		December			2021
2.	DONATIONS		AND LEGACIES
							31.12,21	31.12.20
	Donations						40)4114	26,074
3.	INVESTMENT INCOME
							31.12.21	31.12.20
							8	f
	Rents received						3116,361	322,887
	Deposit account		interest				101	55
							306,462	322,942
	INCOME FROM CHARITABLE AC1lVITIES
							31.12.21	31.12.20
						Activity	f	f
	Visitor centre	admissions,			etc	Visitor centre	24,486	11,424
	Grants					Grants	420,400	94,689
	Paper making					Paper trading	186,228	154,333
	Courses					Education and training	2,435	1,926
							633,549	262,372
	Grant income	includes		fiulough		grants of622,728(2020:653,890).
5.	OTHER INCOME
							31.12.21	31.12.20
							f	6
	Miscellaneous	income						49
	Rents received						14,113	17,219
							14,113	17,268
	RAISING FUNDS
	Investment management				costs
							31.12.21	31.12.20
							f	f
	Staffcosts						52,712	50,765
	Administrative		expenses				14,643	8,396
	Rates and utilities						161,534	90,698
	Property repairs						46,391	3,437
	Insurance						10,284	9,727
	Bad debts						2,120	3,000
	Management fees						4,487	4,487
	Depreciation						9,717	9,515
							301,888	180,025

7.	CHARITABLE ACTIVITIES COSTS
			Support
		Direct	costs (see
		Costs f	note 8) f.	Totals f
	Visitor centre	12,904	155,266	168,170
	Paper trading Education and training	94,083 1,817	124,214 185,828	218,297 IS7,645
		108,804	465808	574,112
8.	SUPPORT COSTS
			Visitor	Education
		Finance f	centre f	&training f
	Other resources expended Visitor centre	35389 408	154,858
	Paper trading Education and training	327		185,828
		36,124	1549858	185,828
			Governance
		Other	costs	Totals
				f
	Other resources expended Visitor centre		53,752	89,141 155,266
	Paper trading Education and training	123,887		124,214 185,828
		123,887	53,752	554,449
9.	NET INCOME/(EXPENDITURE)

		31.12.21	31.12.20
		f	f
Depreciation	- owned assets	38364	39,156
Patents and	licences amortisation	605	605

						31.12.21	31.12.20
							f
Fees payable to the charity's statements			auditors	for the audit ofthe charity's	financial	3,400	3,000
Auditors'	remuneration	for	non audit	work		2,436	2,362

STAFF COSTS			31.12.21	31.12.20
			f	f
Wages and salaries Social security costs Other pension costs			195,519 10,524 4,805	190,100 8,264 4,697
			210,848	203,061
The average monthly	number ofemployees	during the year was as follows:
			31.12.21	31.12.20
Management			2	3
Finance			I	1
Support staff			6	6
				10

		Unrestricted	Restricted	Total
		fund	fund	funds
		f	f	f
INCOME	AND ENDOWMENTS FROM
Donations	and legacies	26,074		26,074
Charitable	activities
Visitor centre		11,424		11,424
Grants		94,689		94,689
Paper trading		154,333		154,333
Education	and training		1,926	1,926
Investment	income	322,942		322,942
Other income		17,268		17,268

			Unrestricted	Restricted	Total
			fund	fund	funds
			f	f	f
	Total		626,730	1,926	628,656
	EXPENDITURE ON
	Raising funds		172,737	7,288	180,025
	Charitable activities
	Visitor centre		96,531	7,288	103,819
	Paper trading		106,962	5,831	112,793
	Education and training		110,536	11,367	121,903
	Other		69,199		69,199
	Total		555,965	31,774	587,739
	NET INCOME/(EXPENDITURE)		70,765	(29,848)	40,917
	RECONCILIATION	OF FUNDS
	Total funds brought forward		1,729,748	1,108,876	2,838,624
	TOTAL FUNDS CARRIED FORWARD		1,800,513	1,079,028	2,879,541
14.	INTANGIBLE FIXEDASSETS
					Patents
					and
					licences
	COST
	At 1 January 2021 and	31 December 2021			6,050
	AMORTISATION
	At 1 January 2021				1,815
	Charge for year				605
	At 31 December 2021				2,420
	NET BOOK VALUE
	At 31 December 2021				3,630
	At 31 December 2020				4,235

TANGIBLE FIXED ASSETS
		Improvements
	Freehold	to	Plant and
	property f	property	machinery f
COST At 1 January 2021 Additions	1450,000	1,482,049	396,044 53,001
Disposals		(400)
At 31December 2021	1850,000	1,481,649	449,045
DEPRECIATION
At 1 January 2021 Charge for year		396,999 29,633	372,730 8%016
At 31 December 2021		426,632	380,746
NET BOOK VALUE At 31December 2021	1,250,000	1,055,017	68,299
At 31 December 2020	1,250,000	1,0&5,050	23,314
	Fixtures
	and	Computer
	fittings I	equipment f	Totals f
COST
At 1 January 2021 Additions	31,594	27,$97	3,187,5&4 53,1101
Disposals			(400)
At 31 December 2021	31,594	27,897	3,240,1$5
DEPRECIATION
At 1 January 2021 Charge for year	31,125 349	27,631 266	828,485 38,264
At 31December 2021	31,474	27,897	866,749
NET BOOK VALUE
At 31December 2021	120		2,373,436
At 31 December 2020	469	266	2,359,099

		31.12,21	31.12.20
Finished	goods	6,404	11,444

DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
	31.12.21	31.12.20
Trade debtors VAT	24&871 25313	15,943
Prepayments and accrued income Prepayments	53,865 41,581	40,701
	145,630	56,644
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR	31.12.21	31.12.20
	f	f
Bank loans and overdrafts (see note 22) Trade creditors	41,530 279,134	98,048 79,627
Social security and other taxes VAT Rental deposits Pension	4,683 36,000 1,133	3,204 24,091 37,935 769
Accruals and deferred income	53,077	156,278
Accrued expenses	45,427	19,517
	460,984	419,469
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.12.21		31.12.20
		f
Bank loans (see note 22)	1,440,411	1,474,800

An analysis ofthe maturity	o	floans is given below:
			31.12.21	31.12.20
			f
Amounts falling due within one year on demand: Bank overdrsgs Bank loans			41,530	24 48,024
Bounce back loan				50,000
			41,530	98,048
Amounts falling between Bank loans - 1-2 years	one	and two years:	46462	41,530
Amounts falling due between Bank loans -2-5 years		two and five years:	144,987	141,863
Amounts falling due in more		than five years:
Repayable by instalments: Bank loans more 5 yr by	instalments		1,125,042	1,126,404

22.	LOANS - continued
						31,12.21 f	31.12.20
	Repayable otherwise	than	by instalments:
	Bank loans more 5 yrs non-instalments					124,120	165,003
23.	LEASING AGREEMENTS
	Minimum lease payments		under non-cancellable	operating	leases fall due as follows:
						3L12.21	31.12.20
						f	f
	Within one year Between one and five	years				41,39S 10450	41,398 10,350
						51,748	51,748

				31.12.21	31.12,20
				f
Bank loans				1,481,941	1,572,824
Security is held by		a secured charge over the properties	held by the charity.
MOVEMENT IN		FUNDS
				Net
				movement	At
			At 1.1.21	in funds	31.12.21
				f	f
Unrestricted	funds
General fund			1,800,513	58,402	1,858,915
Restricted funds
General restricted		fund	1,079,02S	(29,015)	1,050,013
TOTAL FUNDS			2,879,541	29,387	2,908,928

Net movement in f	u	nds, incl	ude	d in the above	are as follows:
					Incoming	Resources	Movement
					resources	expended f.	in funds f
Unrestricted funds
General fund					992,093	(933,691)	58,402
Restricted funds General restricted	fund				2,435	(31,450)	(29,015)
TOTALFUNDS					994,528	(965,141)	29487
Comparatives for		movement		in funds
						Net
						movement	At
					At 1.1.20	in funds	31.12.20
						f.	f
Unrestricted funds
General fund					1,729,748	70,765	1,800,513
Restricted funds
General restricted	fund				1,108,876	(29,848)	1,079,028
TOTALFUNDS					2,838,624	40,917	2,879,541
Comparative net movement			in	funds, included	in the above are as follows:
					Incoming	Resources	Movement
					resources f	expended f	in funds f
Unrestricted funds
General fund					626,730	(555,965)	70,765
Restricted funds
General restricted		fund			1,926	(31,774)	(29,848)
TOTAL FUNDS					628,656	(587,739)	40,917

30.	RECONCILIATION OFNET INCOME TO	RECONCILIATION OFNET INCOME TO	RECONCILIATION OFNET INCOME TO	RECONCILIATION OFNET INCOME TO	RECONCILIATION OFNET INCOME TO	NET CASH FLOW FROM OPERATING ACTIVITIES	NET CASH FLOW FROM OPERATING ACTIVITIES	NET CASH FLOW FROM OPERATING ACTIVITIES	NET CASH FLOW FROM OPERATING ACTIVITIES
								31.12.21	31.12.20
								8
	Net income	for the		reporting	period (asper the Statement		ofFinancial
	Activities)							29@87	40,917
	Adjustments	for:
	Depreciation	charges						38,869	39,761
	Interest received							(101)	(55)
	Interest paid							34,491	27,961
	Decrease in	stocks						5,040	2,024
	(Increase)/decrease		in debtors					(88,986)	4,793
	Increase in creditors							98,033	166,123
	Net cash provided		by operations					1169733	281,524
31.	ANALYSIS	OFCASH AND			CASH EQUIVALENTS
								31.12.21	31.12.20
								5	5
	Cash in hand							1,054	64
	Notice deposits (less			than 3months)				248,125	310,280
	Overdrafls included			in bank loans and overdrafts		falling due within one year			(24)
	Total cash and cash		equivalents					249,179	310,320
32..	ANALYSIS	OFCHANGES			IN NET DEBT
							At 1.1.21	Cash flow	At 31.12.21
							f	f
	Net cash
	Cash at bank	and in	hand				310,344	(61,165)	249,179
	Bank overdrafl						(24)	24

ANA	LYSIS	OF	CHA	N	GES 1N NET DEBT-c	ontinued
						310820	(61,141)	249,179
Debt
Debts	falling	due	within		I year	(98,024)	56,494	(41,530)
Debts	falling	due	aAer	I	year	(1,474,800)	34389	(I440411)
						(1,572,824 )	90,883	(1,481,941)
Total						(1862,504)	29,742	(1,232,762 )

n~AI I T F	n~AI I T F
Detailed Statement ofFinancial Activities
for the Year Ended 31December 2021
		31.12.21	31.12.20
		f
INCOME AND ENDOWMENTS
Donations and legacies
Donations		40,404	26,074
Investment income
Rents received		306861	322,887
Deposit account interest		101	55
		306,462	322,942
Charitable activities
Visitor centre admissions,	etc	24,486	11,424
Paper making		186428	154,333
Courses		2,435	1,926
Grants		420,400	94,689
		633,549	262,372
Other income
Miscellaneous income			49
Rents received		14,113	17,219
		14,113	17,268
Total incoming resources		994,528	628,656
EXPENDITURE
Investment management	costs
Wages		48,880	47,525
Social security		2,631	2,066
Pensions		1,201	1,174
Administrative expenses		14,643	8,396
Rates and utilities		161,534	90,698
Property repairs		46,391	3,437
Insurance		10,284	9,727
Bad debts		2,120	3,000
Management fees		4,487	4,487
Patents and licences		151	151
Improvements to property		79408	7,288
Plant and machinery		2,005	1,814
Fixtures and fittings		87	137
Computer equipment		66	125
		301,888	180,025
Charitable activities
Sundries		108,804	40,280

for the Year End	ed 31December 2021
		31.12.21	31.12.20
		f	f
Support costs
Finance
Bank charges		1,633	1,453
Mortgage		34,491	27,961
		36,124	29,414
Visitor centre
Wages		48,880	47,525
Social security		2,631	2,066
Pensions		1/01	1,174
Rent, rates and	water	11,747	11,955
Insurance		10,284	9,727
Light and heat		9364	5,244
Telephone		1,808	2,838
Postage and stationery		298	340
Sundries		Ii705	1,108
Repairs and maintenance		46,391	3,437
Advertisement		10,832	4,140
Patents and licences		151	151
Improvements	to pmperty	7)408	7,288
Plant and machinery		2,005	1,814
Fixtures and fittings		87	137
Computer equipment		66	125
		154)858	99,069
Education gs training
Wages		58,655	57,031
Social security		3,157	2,479
Pensions		1,442	1,409
Rent, rates and	water	14,095	14,345
Insurance		12,341	11,673
Light and heat		11,237	6,293
Telephone		2,170	3,405
Postage and stationery		358	408
Repairs and maintenance		55,670	4,125
Advertisement		12,998	4,968
Sundries		2,045	1,293
Patents and licences		182	182
Improvements	to property	8,890	8,746
Plant and machinery		2,404	2,174
Fixtures and fittings		104	165
Computer equipment		811	150
		185,828	118,846
Other
Wages		39,104	38,019
Carried forward		39,104	38,019

for the Year Ended 31De	cember 2021
		31.12.21	31.12.20
Other
Brought forward		39,104	38,019
Social security		2,105	1,653
Pensions		961	940
Rent, rates and water		9,396	9,562
Insurance		8,227	7,782
Light and heat		7,492	4,195
Telephone		19447	2,270
Postage and stationery		238	272
Sundries		1,363	863
Repairs and maintenance		37,113	2,750
Advertisement		8,666	3,312
Patents and licences		121	121
Improvements to property		5,927	5,831
Plant and machinery		1,602	1,450
Fixtures and fittings		71	110
Computer equipment		54	100
		123,887	79,230
Governance costs
Auditors' remuneration		3,400	3,000
Auditors' remuneration	for non audit work	2,436	2,362
Consultancy fees		47,200	35,500
Legal fees		716	13
		53,752	40,875
Total resources expended		965,141	587,739
Net income		29387	40,917