##
|Trustees|||Dr EJ Campbell||||
|---|---|---|---|---|---|---|
||||Mr C Clark QC||||
||||Mrs SJCoode|MBE|DL||
||||Mr M Gifford||||
||||MrAE James||||
||||Mr MEF James||||
||||Mr SBBLawrence||||
||||Mr DA Perks||||
||||Mr TSneddon|—Chairman|||
||||Mr M Ward|||(Appointed 26 October 2020)|
|Secretary|||MrAE James||||
|Acting Centre manager|||Ms SSnell||||
|Charity number|||1093691||||
|Company|number||0446061'I||||
|Principal address|||Bradbury
House||||
||||Hewas Water||||
||||STAUSTELL||||
||||Comwall||||
||||PL26 7JF||||
||||www. merlinmscentre.||org.uk||
|Registered||office|Bradbury
House||||
||||Hewas Water||||
||||STAUSTELL||||
||||Cornwall||||
||||PL26 7JF||||
|Independent||examiner|Mark Williams|FCA|DChA||
||||RRL LLP||||
||||Peat House||||
||||Newham
Road||||
||||TRURO||||
||||Comwall||||
||||TR12DP||||
|Bankers|||Barclays Bank|PLC|||
||||Truro Group||||
||||55ABank Street||||
||||NEWQUAY||||
||||Cornwall||||
||||TR7 1JE||||
##
##
||||Page|
|---|---|---|---|
|Chairman's
statement|||1-4|
|Trustees'
report|||5-7|
|Independent
examiner's||report||
|Statement
offinancial|activities|||
|Balance sheet|||1Q-11|
|Statement ofcash tlows|||12|
|Notes to the financial|statements||13-33|
##
##
|In last year's Annual
Report, we indicated
our 'near ter
progress:-|m' strategy as|Trustees.|The table below|demonstrates
our|
|---|---|---|---|---|
|Improve the Charity's
current financial
position to one|ofstability and|freedom|||
|rom debt|||||
|Enable the ea
re-openin
ofthe Hydrothera
pool|with improved|staffing|||
|Extend and supplement
a separate
legacy designated|to install ground source||Hydi'oO'eiapy:.|,p'oo1::co'mpleted;|
|heatin
for the h drothera
ool to the whole Hewas|Water site||bijsinem case.-,'for site-under. review||
|Refinance outreach
and extend day respite services|||||
|Establish an endowment
in perpetuity
that will provide|base income|to|Still",in-':forwaid';plans-where"fundihg||
|contribute to operational
costs|||available-,||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
#
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||funds|funds||funds|funds||
|||||2020|2020|2020|2019|2019|2019|
||||Notes|||F||||
|Donations
and legacies||||401,233|44,500|445,733|128,030|92,642|220,672|
|Charitable
activities||||65,958||65,958|183,828||183,828|
|Other trading
activities||||68,072||68,072|180,965||180,965|
|Investments||||17||17|59||59|
|Other income|||||||2,905||2,905|
|Total income||||535,280|44,500|579,780|495,787|92,642|588,429|
|Raising funds||||84,076||84,076|175,593||175,593|
|Charitable
activities||||331,755|43,537|375,292|527,626|21,642|549,268|
|Total resources||||||||||
|expended||||415,831|43,537|459,368|703,219|21,642|724„861|
|Net gains/(losses)||on||||||||
|investmenis|||14|3,607||3,607||||
|Net incomingl||||||||||
|(outgoing) resources||||||||||
|before transfers||||123,056|963|124,019|(207,432)|71,000|(136,432)|
|Gross transfers||||||||||
|between
funds||||44,065|(44,065)||31,525|(31,525)||
|Net movement|in|funds||167,121|(43,102)|124,019|(175,907)|39,475|(136,432)|
|Fund balances at 1||||||||||
|January 2020||||747,600|2,014,369|2,761,969|923,507|1,974,894|2,898,401|
|Fund balances|at|31||||||||
|December 2020||||914,721|1,971,267|2,885,988|747,600|2,014,369|2,761,969|
##
##
##
||||2020||2019|
|---|---|---|---|---|---|
|||Notes||||
|Fixed assets||||||
|Intangible
assets||15||1,391|1,391|
|Tangible assets||17||2,854,476|2,881,800|
|Investments||16||61,297||
|||||2,917,164|2,883,191|
|Current assets||||||
|Stocks||19|2,577||729|
|Debtors||20|?,781||22,674|
|Cash at bank and in|hand||191,443||97,879|
||||201,801||121,282|
|Creditors".amounts|falling due within|21||||
|one year|||(232,977)||(242,504)|
|Net current
liabilities||||(31,176)|(121,222)|
|Total assets less current liabilities||||2,885,988|2,761,969|
|Income funds||||||
|Restricted funds||25||1,971,267|2,014,369|
|Unrestri
t||||||
|Designated
funds||26|893,916||934,531|
|General unrestricted|funds||20,805||(186,931)|
|||||914,721|747,600|
|||||2,885,988|2,761,969|
##
##
##
##
##
||||||||2020||2019||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||Notes|||||
|Cash flows from operating|||activities||||||||
|Cash generated
from/(absorbed|||||by)|32|||||
|operations||||||||244,563||(205,991)|
|Investing|activities||||||||||
|Purchase|oftangible
fixed|assets|||||(68,326)||(48,669)||
|Proceeds|on disposal oftangible||||fixed||||||
|assets|||||||||2,995||
|Purchase|of investments||||||(57,690)||||
|Interest received|||||||17||||
|Net cash|used in investing||activities|||||(125,999)||(45,615)|
|Financing|activities||||||||||
|Receipt/(Repayment)
ofborrowings|||||||(25,000)||200,000||
|Net cash|(used in}/generated|||from|||||||
|financing|activities|||||||(25,000)||200,000|
|Net increase/(decrease)||in|cash and cash||||||||
|equivalents||||||||93,564||(51,606)|
|Cash and|cash equivalents||at|beginning||ofyear||97,879||149,485|
|Cash and|cash equivalents|||at end of||year||191,443||97,879|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|3|Donations
and legacies||||||(Continued)|
|---|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|||funds|funds||funds|funds||
|||2020|2020|2020|2019|2019|2019|
||Grants receivable for|||||||
||core activities|||||||
||Band Trust|||||65,OOO|65,OOQ|
||Garfield Weston|||||||
||Foundation|||||10,000|10,000|
||Cornwall
Council|||||||
||Funding - Covid-19|||||||
||support|17,097||17,097||||
||Edward
Gostling|||||||
||Foundation||14,500|14,500||||
||Duchy Health
Charity|5,000||5,000||1,422|1,422|
||Thomas J Horne|||||||
||Memorial Trust|8,500||8,500|7,500||7,500|
||The Waterloo|||||||
||Foundation|10,000||10,0QO||||
||Cornwall
Councillors|||||||
||Community
Chest|7,540||7,540||||
||National
Lottery|8,800|25,000|33,800||||
||HMRC Job Retention|||||||
||Scheme Funding|47,264||47,264||||
||Other|32,925|5,000|37,925|22,102|16,220|38,322|
|||137,126|44,500|181,626|29,602|92,642|122,244|
##
##
||||||||Unrestricted|Unrestricted|
|---|---|---|---|---|---|---|---|---|
||||||||funds|funds|
||||||||2020|2019|
||Fundraising|||events|||33,990|94,863|
||Retail and||Cafb income||||18,142|56,508|
||Corporate||room hire||||15,940|28,997|
||Other income|||||||597|
||Other trading||||activities||68,072|180,965|
|5|Charitable|||activities|||||
||||||||2020|2019|
||||||||f||
||Therapies||||||61,227|170,741|
||Therapy|room|||hire||4,731|13,087|
||||||||65,958|183,828|
|6|Investments||||||||
||||||||Unrestricted|Unrestricted|
||||||||funds|funds|
||||||||2020|2019|
|||||||||f.|
||Interest receivable||||||17||
|7|Other income||||||||
||||||||Total|Unrestricted|
|||||||||funds|
||||||||2020|2019|
||Net gain|on||disposal oftangible||fixed assets||2,905|
##
##
##
|||2020|2019|
|---|---|---|---|
|Marketing
and publicity||781|2,642|
|Other fundraising|costs|6,908|35,797|
|Staffcosts||69,996|127,584|
|Support costs||6,391|9,570|
|income generation||84,076|175,593|
##
||||2020|2019|
|---|---|---|---|---|
|Staffcosts|||164,329|301,080|
|Depreciation
and impairment|||95,650|40,413|
|Light and heat|||14,423|17,774|
|Repairs and renewals|||20,028|22,803|
|Subscriptions|||1,344|2,975|
|Cost of provision ofsubsidised||therapy|8,076|74,16?|
|Travel and subsistence|||5,170|17,745|
|Cleaning|||4,158|5,814|
|Rent and rates|||4,957|5,069|
|Bank charges|||1,219|2,148|
||||319,354|489,988|
|Share ofsupport costs (see note 12)|||14,456|19,670|
|Share ofgovernance|costs (see note 12)||41,482|39,610|
||||375,292|549,268|
|Analysis
by fund|||||
|Unrestricted
funds|||331,755|527,626|
|Restrided
funds|||43,537|21,642|
||||375,292|549,268|
##
##
|10|Net movement
in funds||2D20|2019|
|---|---|---|---|---|
||Net movement
in funds is stated|after charging/(crediting)|||
||Fees payable to the company's|auditor for the audit ofthe company's|||
||financial statements|||3,420|
||Depreciation
ofowned tangible|fixed assets|95,650|40,413|
||Loss/(profit)
on disposal oftangible
fixed assets|||(2,905)|
##
##
|Support|cos|ts|||||||
|---|---|---|---|---|---|---|---|---|
||||Support|Governance|2020|2D19|Basis ofallocation||
||||costs|costs|||||
|Staffcosts||||29,026|29,026|31,771|Staff time||
|Insurance|||5,289||5,289|7,233|Estimated|usage|
|Telephone|||9,213||9,213|12,418|Estimated|usage|
|Postage and||stationery|6,345||6,345|9,589|Estimated|usage|
|Audit fees||||||3,420|Governance||
|Accountancy||||2,920|2,920|1,440|Governance||
|Legal and|professional|||6,726|6,726|2,979|Governance||
|Independent||Examiner's|||||Governance||
|Fees||||2,810|2,810||||
||||20,847|41,482|62,329|68,850|||
|Analysed|between||||||||
|Fundraising|||6,391||6,391|9,570|||
|Charitable|activities||14,456|41,482|55,938|59,28Q|||
||||20,847|41,482|62,329|68,850|||
##
##
##
##
##
|Fixed asset investments||
|---|---|
||Listed|
||investments|
|Cost or valuation||
|At 1 January 2020||
|Additions|57,690|
|Valuation
changes|3,607|
|At 31 December 2020|61,297|
|Carrying
amount||
|At 31 December 2020|61,297|
|At 31 December 2019||
|CIII|hl|CD||||P4|||
|---|---|---|---|---|---|---|---|---|
|HO||C4|O|CO|CD|CO
ID|||
||CD|CO|ID||47|O|||
||||C4|h|OI|||CO|
||||CO|||||CO|
||||||||CV|CV|
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##
##
|18|Financial
instruments|Financial
instruments|||2020|2019|
|---|---|---|---|---|---|---|
||Carrying
amount of||financial assets||||
||Instruments
measured||at fair value through|profit or loss|61,297||
|19|Stocks||||||
||||||2020|2019|
||Finished goods|and goods for resale|||2,577|729|
|20|Debtors||||||
||||||2020|2019|
||Amounts
falling due||within one year:||||
||Trade debtors||||3,888|3,774|
||Other debtors||||3,000||
||Prepayments
and accrued income||||893|18,900|
||||||7,781|22,674|
|21|Creditors: amounts||falling due within one year||||
||||||2020|2019|
||Concessionary|loans|||180,000|205,00Q|
||Other taxation|and social security|||21,101|5,507|
||Trade creditors||||4,864|4,999|
||Other creditors||||97|83|
||Accruals||||26,915|26,915|
||||||232,977|242,504|
|22|Loans and overdraffs||||||
||||||2020|2019|
||Other loans||||180,000|205,000|
||Payable
within|one year|||180,000|205,QQO|
##
##
##
##
##
|The charge to proAt or l|oss in respect of|defined
contrib|ution
scheme|s was f4,796|(2019:f12,8|78).|
|---|---|---|---|---|---|---|
|Analysis ofnet assets|between funds||||||
||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
||funds|funds||funds|funds||
||2020|2020|2020|2019|2019|2019|
|Fund balances at 31|||||||
|December 2020 are|||||||
|represented
by:|||||||
|Intangible
Axed assets|1,391||1,391|1,391||1,391|
|Tangible assets|890,309|1,964,167|2,854,476|934,531|1,947,269|2,881,800|
|Investments|61,297||61,297||||
|Current assetsl|||||||
|(liabilities)|(38,276)|7,100|(31,176)|(188,322)|67,100|(121,222)|
||914,721|1,971,267|2,885,988|747,600|2,014,369|2,761,969|
||||m
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##
##
##
|Capital commitments|||2020f|2019|
|---|---|---|---|---|
|At 31 December 2020|the charity had capital commitments|as follows:|||
|Contracted
for but not|provided
in the financial statements:||||
|Acquisition
ofproperty,|plant and equipment|||37,958|
##
##
||||||2020|2019f|
|---|---|---|---|---|---|---|
||Within one year||||7,501|7,699|
||Between two and|five years|||20,075|2?,576|
||||||27,576|35,275|
|30|Related party transactions||||||
||Remuneration
of|key management|personnel||||
||The remuneration|ofkey management|personnel|is as follows.|||
|||2020|2019f|
|---|---|---|---|
|Aggregate|compensation|33,641|41,164|
##
|31|Analysis ofchanges|in net funds/(debt)|in net funds/(debt)|in net funds/(debt)|||||
|---|---|---|---|---|---|---|---|---|
|||||||At 1 January|Cash flows|At 31 December|
|||||||2020||2020|
|||||||K|||
||Cash at bank and in hand|||||97,879|93,564|191,443|
||Loans falling due within|one year||||(205,000)|25,000|(180,000)|
|||||||(107,121)|118,564|11,443|
|32|Cash generated
from|operations|||||2020|2019|
||Surplus/(deficit)
forthe|year|||||124,019|(136,432)|
||Adjustments
for:||||||||
||Investment
income recognised||in|profit or loss|||(17)|(59)|
||Gain on disposal oftangible
fixed|||assets||||(2,905)|
||Fair value gains and losses on||investments||||(3,607)||
||Depreciation
and impairment
oftangible||||fixed assets||95,650|40,413|
||Movements
in working|capital:|||||||
||(Increase)/decrease
in|stocks|||||(1,848)|2,945|
||Decrease
in debtors||||||14,893|16,143|
||Increase/(decrease)
in|creditors|||||15,473|(126,096)|
||Cash generated
from/(absorbed|||by) operations|||244,563|(205,991)|