2020-10-31-accounts - The Preston Trust Homes Charity

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Directors/Trustees	Directors/Trustees	Lord R0 Bradford
		The Countess ofBradford
		Mrs C Kenyon-Slaney
		Mr D Stacey
		Mr A Kenyon
		Mrs N Peers
Charity number		1083913
Company	number	4115137
Registered	office	74a Forton Road
		Newport
		Shropshire
		TF108BT
Auditor		Azets Audit Services
		Column House
		London Road
		Shrewsbury
		Shropshire
		England
		SY26NN
Solicitors		Farrer &Co

			Page
Directors'/Trustees'	report		1-3
Statement ofdirectors'/trustees'		responsibilities
Independent auditor's	report		5-6
Statement offinancial	activities
Summary income and	expenditure	account
Balance sheet
Notes to the financial statements			10-19

				Unrestricted	Endowment	Total	Unrestricted	Endowment	Total
				funds	funds		funds	funds
				2020	2020	2020	2019	2019	2019
			Notes	6	8	6	8	8	8
Ittggmafmm;
Donations and legades							40		40
Other trading activities					63,835	63,835		63,799	63,799
Investments				4,475	30,077	34,552	3,336	32,395	35,731
Total income and
endowments				4,475	93,912	98,387	3,376	96,194	99,570
Emstttihttagg;
Charitable activities				103,772		103,772	87,433		87,433
Other			10		23,549	23,549		23,549	23,549
Total resources
expended				103,772	23,549	127,321	87,433	23,549	110,982
Net gains/(losses)		on
investments					(45,574)	(45,574)		42,811	42,811
Net (outgoing)/
incoming msources
before transfem				(99,297)	24,789	(74,508)	(84,057)	115,456	31,399
Gross transfers
between funds				93,912	(93,912)		96,195	(96,195)
Net movement	in	funds		(5,385)	(69,123)	(74,508)	12,138	19,261	31,399
Fund balances at 1
November 2019				209,717	2,010,447	2,220,164	197,579	1,991,186	2,188,765
Fund balances	at	31
October 2020				204,332	1,941,324	2,145,656	209,717	2,010,447	2,220,164

					Att income funds
					2020	2919
					8
Gross income					4,475	3,376
Transfer from	endowment		funds		93,912	96,195
Total income	in	the reporting		period	98,387	99,571
Total expenditure		from income funds			127,321	116,982
Met (expenditure)/income				forthe year	(5,385)	12,138

			2020	2019
		Notes	8	6
Fixed assels
Tangible assets		12	1,044,438	1,055,770
Investments		13	939,007	984,581
			1,983,445	2,040,351
Current assets
Debtors		15	1,093	9,416
Cash at bank and in	hand		165,829	175,128
			188,922	184,544
Creditors: amounts	falling due within
one year		16	(4,711)	(4,731)
Net current assets			162,211	179,813
Total assets less current liabilities			2,145,656	2,220,164
Capital funds
Endowment funds -	general	17	1,941,324	2,010,447
Income funds
Unrestricted funds			204,332	209,717
			2,145,656	2,220,164

	Accounting policies				(Continued)	(Continued)	(Continued)
1.5	Resources expended
	Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure			includes any VAT
	which cannot be fully recovered, and is included as part ofthe expenditure to which it relates.
1.6	Tangible fixed assets
	Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation,					net of
	depreciation and any impairment losses.
	Depreciation is recognised so as to write off the cost or valuation ofassets less their residual values					over
	their useful lives on the following bases:
	Land and buildings straight line over 50years
	Fixtures, fittings &equipment 12.5%per annum reducing balance
	The gain or loss arising on the disposal of an asset is determined as the	difference		between the sale
	proceeds and the carrying value ofthe asset, and is recognised in net income/(expenditure)				for the year.
1.7	Fixed asset investments
	Fixed asset investments are initially measured at transaction price excluding	transaction			costs, and		are
	subsequently measured at fair value at each reporting date. Changes in fair	value	are	recognised		in	net
	income/(expenditure) for the year. Transaction costs are expensed as incurred.
1.8	Impairment offixed assets
	At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine
	whether there is any indication that those assets have suffered an impairment	loss.	If any		such indication
	exists, the recoverable amount ofthe asset is estimated in order to determine	the extent		of	the impairment
	loss (ifany).
1.9	Cash and cash equivalents
	Cash and cash equivalents include cash in hand, deposits held at call with banks,		other	short-term		liquid
	investments with original maturities of three months or less, and bank overdrafts.		Bank		overdrafts		are
	shown within borrowings in current liabilities.
1.10	Financial instruments
	The charity has elected to apply the provisions of Section 11 'Basic Financial	Instruments'		and Section			12
	'Other Financial Instruments Issues' ofFRS102to all ofits financial instruments.
	Financial instruments are recognised in the charity's balance sheet when the	charity	becomes party to				the
	contractual provisions ofthe instrument.
	Financial assets and liabilities are offset, with the net amounts presented in the financial			statements,		when
	there is a legally enforceable right to set off the recognised amounts and there	is an	intention		to settle	on a
	net basis or to realise the asset and settle the liability simultaneously.
	Basic financial assets
	Basic financial assets, which include debtors and cash and bank balances, are		initially		measured		at
	transaction price including transaction costs and are subsequently carried	at amortised			cost using		the
	effective interest method unless the arrangement constitutes a fiinancing transaction,		where		the transaction
	is measured at the present value of the future receipts discounted at a market rate		of interest. Financial
	assets classified as receivable within one year are not amortised.

					2020	2019
	Flat maintenance	income			63,835	63,799
5	Investments
			Unrestricted	Endowment	Total	Total
			funds	funds	2020	2019
				general
			6	6
	Feed in Tariff income		4,448		4,448	3,200
	Income from investments			30,077	30,077	32,395
	Interest receivable		27		27	136
			4,475	30,077	34,552	35,731
	For the year ended 31October 2019		3,336	32,395		35,731

		2020	2019
		8	8
Wardens salary		16,574	16,245
Rates		3,570	3,470
Insurance		1,921	1,911
Light &heat		10,704	16,547
Repairs &maintenance		56,029	30,575
Postage &stationery		97	323
Telephone &fax		1,797	2,034
Cleaning		1,716	2,075
Garden expenses		3,244	6,499
Legal and professional		100
Sundry costs		554	984
		96,306	80,663
Share ofsupport costs (see note 7)		4,106	5,886
Share ofgovernance	costs (see note 7)	3,360	2,760
		103,772	87,433
Analysis by fund
Unrestricted funds		103,772
		103,772
Forthe year ended 31October 2019
Unrestricted funds			87,433
			87,433

Supportcosts
	Support	Governance	2020	2019	Basis ofallocation
	costs 8	costs f
Clerk's fees	1,103		1,103	1,536
Depreciation	2,328		2,328	1,819
Curates fees	675		675	175
Audit fees		3,360	3,360	3,240	Governance
	4,106	3,360	7,466	6,770
Analysed between
Charitable activities	4,106	3,360	7,466	6,770

The average	monthly number ofemployees during	the year was:
		2020	2018
		Number	Number
Warden
Employment	costs	2020	2019
			8
Wages and	salaries	16,574	22,744

	Land and building	depreciation
11	Net gains/(losses)	on investments

2020	2019
6	8
23,549	23,549
23,549	23,549

Endowment	Endowment
funds	funds
general	general
2020f	2019
(45,574)	42,811


	Movement on		investments			(45,574)	42,811
12	Tangible fixed assets
					Lend and	Fixtume,	Total
					buildings	fittings a
						equipment
						8
	Cost
	At 1 November		2019		1,427,389	59,443	1,486,832
	Additions				11,137	3,409	14,546
	Disposals					(939)	(939)
	At 31 October		2020		1,438,526	61,913	1,500,439
	Depreciation		and impairment
	At 1 November		2019		401,523	29,540	431,063
	Depreciation	charged		in the year	23,772	2,105	25,877
	Eliminated in	respect ofdisposals				(939)	(939)
	At 31 October		2020		425,295	30,706	456,001
	Canying amount
	At 31 October		2020		1,013,231	31,207	1,044,438
	At 31 October		2019		1,025,866	29,904	1,055,770

									Listed
									investments
									8
	Cost orvaluation
	At 1 November 2019								984,581
	Additions								219,123
	Valuation	changes							(81,317)
	Disposals								(183,380)
	At 31 October 2020								939,007
	Carrying	amount
	At 31 October 2020								939,007
	At 31 October 2019								984,581
14	Financial	instruments						2020	2019
									5
	Carrying	amount	of	financial		assets
	Debt instruments		measured		at amortised		cost	163,882	173,224
	Equity instruments		measured			at cost less impairment		939,007	984,581
	Carrying	amount	of	financial		liabilities
	Measured	at amortised cost						4,435	4,455
	Financial	assets measured			at	amortised	cost consists oftrade debtors, other debtors and cash		at bank.
	Financial	liabilities	measured			at amortised	cost consists oftrade creditors, other creditors and		accruals.
15	Debtors
								2020	2019
	Amounts	falling	due	within		one year:		8	8
	Prepayments and		accrued income					1,093	9,416
15	Creditors: amounts			falling	due within		one year
								2020	2019
								8
	Other taxation and social security							276	276
	Accruals	and deferred		income				4,435	4,455
								4,711	4,731

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Analysis of	net assets	between funds
		Unrestricted	Endowment	Total	Unrestricted	Endowment	Total
		Fund	Fund		Fund	Fund
		2020	2020	2020	2019	2019	2019
		f	f	f	f	f	f
Fund balances at 31
October 2020 are
represented	by:
Tangible assets		42,121	1,002,317	1,044,438	29,904	1,025,866	1,055,770
Investments			939,007	939,007		984,581	984,581
Current assets/
(liabilities)		162,211		162,211	179,813		179,813
		204,332	1,941,324	2,145,656	209,717	2,010,447	2,220,164