## ## ## ## ||||||Pages| |---|---|---|---|---|---| |Trustees'
annual
report (incorporating
the|||director's|report)|1 to 8| |Independent
auditor's|report to|the members|||9to 12| |Statement
offinancial|activities|(including|income and||| |expenditure
account)|||||13| |Statement
offinancial|position||||14| |Statement
ofcash flows|||||15| |Notes to the financial|statements||||16to 27| |The following
pages|do not form part of the financial statements||||| |Detailed statement
of|financial|activities|||29to 30| |Notes to the detailed|statement|offinancial|activities||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Reference||and administrative|and administrative|and administrative|details||||| |---|---|---|---|---|---|---|---|---|---| |Registered||charity|name||Lee Abbey|Fellowship|||| |Charity registration|||number||1094097||||| |Company||registration||number|4428897||||| |Principal|office and||registered||Lee Abbey||||| |office|||||Lynton||||| ||||||Devon||||| ||||||EX356JJ||||| |The trustees|||||||||| ||||||Revd Dr D|C R Widdows||Chair|| ||||||Revd Dr G|R Cappleman|||| ||||||Revd SGarner||||| ||||||Revd J LC Hocking||||| ||||||AC Male||||| ||||||R Dates||||| ||||||M Proctor||||| ||||||M Scyner|||(Appointed|18December 2020)| |Company||secretary|||Magnus
Proctor||||| |Auditor|||||Thomas Westcott||||| ||||||Chartered|accountants|&statutory|auditor|| ||||||47 Boutpoit Street||||| ||||||Barnstaple||||| ||||||Devon||||| ||||||EX31 1SQ||||| |Bankers|||||National
Westminster||||| ||||||41 High Street||||| ||||||Barnstaple||||| ||||||Devon||||| ||||||EX31 1BZ||||| |Solicitors|||||Carter Lemon Camerons||||| ||||||10Aldersgate
Street||||| ||||||London||||| ||||||EX1A4HJ||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||Y|ear end|ed 30 April|2021||| |---|---|---|---|---|---|---| |||||2021||2020| ||||Unrestricted|Restricted||| ||||funds|funds|Totalfunds|Total funds| |||Note|8|6|6|6| |Income and endowments||||||| |Donations
and legacies||5|468,914|5,977|474,891|324,412| |Chaditable
activities||6|200,189||200,189|1,738,043| |Other trading
activities||7|15,871||15,871|89,634| |Investment
income||8|1,256||1,256|3,509| |Total income|||686,230|5,977|692,207|2,155,598| |Expenditure||||||| |Expenditure
on raising funds:
Costs ofother trading
activities
Expenditure
on charitable
activities||9
10,11|21,424
1,113,941|1,157|21,424
1,115,098|54,513
2,060,742| |Total expenditure|||1,135,365|1,157|1,136,522|2,115,255| |Net (expenditure)/income
movement
in funds|and net||(449,135)|4,820|(444,315)|40,343| |Reconciliation
offunds||||||| |Total funds brought
forward|||5,407,436|39,668|5,447,104|5,406,761| |Total funds carried forward|||4,958,301|44,488|5,002,789|5.447,104| ## ## ## ## ||||2021||2020| |---|---|---|---|---|---| |||Note|||2| |Fixed assets|||||| |Tangible fixed assets||17||4,434,980|4,539,063| |Current assets|||||| |Stocks||18|129,803||152,824| |Debtors||19|36,528||65,327| |Cash at bank and in|hand||673,585||838,663| ||||839,916||1,056,814| |Creditors: amounts|falling due within one year|20|272,107||148,773| |Net current assets||||567,809|908,041| |Total assets less current liabilities||||5,002,789|5,447,104| |Net assets||||5,002,789|5,447,104| |Funds ofthe chadity|||||| |Restricted funds||||44,488|39,668| |Unrestricted
funds||||781,942|5,407,436| |Designated
funds||||4,176,359|| |Total charity funds||23||5,002,789|5,447,104| ## ## ## ||||2021|2020| |---|---|---|---|---| ||||6|F| |Cash flows from operating
Net (expenditure)/income|activities||(444,315)|40,343| |Adjustments
for:
Depreciation
oftangible
fixed assets|||130,476|130,476| |Government
grant income
Other interest receivable and similar income|||(98,769)
(1,256)|(3,509)| |Accrued expenses/(income)|||27,168|(130,774)| |Changes/n:
Stocks|||23,021|(44,721)| |Trade and other debtors|||1,387|52,249| |Trade and other creditors|||123,578|(252,859)| |Cash generated
from operations|||(238,710)|(208,805)| |Interest received|||1,256|3,509| |Net cash used
in operating|activities||(237,454)|(205,296)| |Cash flows from investing
Purchase oftangible assets|activities||(26,393)|(9,950)| |Net cash used in investing
activities|||(26,393)|(9,950)| |Cash flows from financing
activities
Proceeds from loans from group undertakings
Government
grant income|||98,769|(3,970)| |Net cash from/(used
in) financing
activities|||98,769|(3,970)| |Net decrease in cash and
Cash and cash equivalents|cash equivalents
at beginning
ofyear||(165,078)
838,663|(219,216)
1,057,879| |Cash and cash equivalents|at end ofyear||673,585|838,563| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Donations|and le|gacies||||| |---|---|---|---|---|---|---| ||||Unrestdicted|Restncted|Total|Funds| ||||Funds|Funds||2021| ||||E|||E| |Donations||||||| |Donations|||208,527|5,977|214,504|| |Lee Abbey Friends income
Bursary donations
received
Charity concessions|||50,400
9,344
27,756|||50,400
9,344
27,756| |Legacies
Legacies|||74,118|||74,118| |Grants||||||| |Government|grant|income|98,769|||98,769| ||||468,914|5,977|474,891|| ||||Unrestncted|Restricted|Total Funds|| ||||Funds|Funds
E||2020
f| |Donations||||||| |Donations|||104,235|23,001|127,236|| |Lee Abbey Friends income
Bursary donations
received
Charity concessions|||50,400
54,609
83,747|||50,400
54,609
83,747| |Legacies
Legacies|||8,420|||8,420| ## ## ## ## ## |||||Year en|ded 30 April|2021||| |---|---|---|---|---|---|---|---|---| |5.|Donations
and legacies|||fronrhvnri||||| |||||||Unrestricted|Restricted|Total Funds| |||||||Funds|Funds|2020| |||||||E|E|E| ||Grants|||||||| ||Government|grant income||||||| |||||||301,411|23,001|324,412| |6.|Charitable
activities|||||||| ||||||Unrestricted|Total Funds|Unrestricted|Total Funds| ||||||Funds|2021|Funds|2020| ||||||E||E|| ||House and sundry fees
Self catering
Sundry income
Camp fees
Discounts received||||3,782
89,492
115
161|3,782
89,492
115
161|1,318,041
78,350
3,857
37,568
781|1,318,041
78,350
3,857
37,568
781| ||Estate income||||105,691|105,691|105,534|105,534| ||Mission and|Outreach|||948|948|193,912|193,912| ||||||200,189|200,189|1,738,043|1,738,043| |7.|Other trading activities|||||||| ||||||Unrestricted|Total Funds|Unrestricted|Total Funds| ||||||Funds|2021|Funds|2020| ||||||E|E|E|E| ||Lee Cottage
Shop income|income|||8,973
6,898|8,973
6,898|34,538
55,096|34,538
55,096| ||||||15,871|15,871|89,634|89,634| |8.|Investment|income||||||| ||||||Unrestricted|Total Funds|Unrestricted|Total Funds| ||||||Funds|2021|Funds|2020| ||||||E|E|E|F| ||Interest and|dividends|receivable||1,256|1,256|3,509|3,509| |9.|Costs ofother trading|||activities||||| ||||||Unrestricted|Total Funds|Unrestricted|Total Funds| ||||||Funds|2021|Funds|2020| ||||||E|E|E|E| ||Costs ofother trading
costs||activities - Shop||21,424|21,424|54,513|54,513| ## ## ## ## |Expenditure
|on char'itable
activities
by fund typ|e||| |---|---|---|---|---| |||Unrestricted|Restncted|Total Funds| |||Funds|Funds|2021| |||6|6|6| |The operation
Support costs|ofLee Abbey and its community|825,245
288,696|1,157|826,402
288,696| |||1,113,941|1,157|1,115,098| |||Unrestricted|Restricted|Total Funds| |||Funds|Funds|2020| |||||6| |The operation
Support costs|ofLee Abbey and its community|1,560,855
432,535|67,352|1,628,207
432,535| |||1,993,390|67,352|2,060,742| ## |Activities||||| |---|---|---|---|---| |undertaken|Grantfunding||Total funds|Total fund| |directly
f|ofactivities
f|Support costs|2021
F|2020
f| |The operation
ofLee||||| |Abbey and its
community
816,673|9,729|288,696|1,115,098|2,060,742| |Analysis ofsupport costs||||| |||Analysis
of||| |||support costs
6|Total 2021
6|Total 2020
f| |Premises||18,806|18,806|42,043| |Communications
and IT||23,476|23,476|49,648| |General office||9,361|9,361|9,000| |Human
resources||103,061|103,061|95,072| |Finance costs||1,667|1,667|12,811| |Legal fees
Bank charges
Promotional
costs||779
5,124
14,040|779
5,124
14,040|667
15,383
66,753| |Activity administration
Community
sundry costs
Gratuities||3,865
(1,036)
(48)|3,865
(1,036)
(48)|13,515
4,501
4,470| |Trustees' expenses
Contribution
to Lee Abbey Movement
Community
allowances||21,000
88,601|21,000
88,601|1,404
27,500
89,769| |||288,696|288,696|432,536| ## ## ## ## |Company
Limited by Guarant
|ee||| |---|---|---|---| |Notes to the Financial Statements|/continued/||| |Year ended 30 April 2021|||| |Bursary grants|||| |||2021
f|2020
f| |Grants to institutions|||| |Grants to institutions||9,729|56,732| |Total grants||9,729|56,732| ## |Net (expenditure)/income|is stated|after charging/(crediting):||| |---|---|---|---|---| ||||2021
f|2020
f| |Depreciation
oftangible|fixed assets||130,476|130,476| |Staff costs||||| |The total staff costs and|employee|benefits for the reporting|period are analysed as
2021
f|follows.
2020| |Wages and salaries
Social security costs
Employer
contributions|to pension|plans|379,711
15,070
49,833|521,911
16,125
70,874| ||||444,614|6Oe,gtO| ## |||||2021|2020| |---|---|---|---|---|---| |||||No.|No.| |Running
Lee
Management||Abbey
and Administration||46
5|95
5| |||||51|100| ## ## ## ## ## ## ## |17.|Tangible fixed|assets|||||| |---|---|---|---|---|---|---|---| |||||Land and|Fixtures and|Motor|| |||||buildings|fittings|vehicles|Total| ||||||5|E|F| ||Cost||||||| ||At 1 May 2020
Additions|||5,997,766
26,393|997,800|158,671|7,154,237
26,393| ||At 30April 2021|||6,024,159|997,800|158,671|7,180,630| ||Depreciation||||||| ||At 1 May 2020
Charge for the|year||1,532,455
99,004|989,770
8,030|92,949
23,442|2,615,174
130,476| ||At 30April 2021|||1,631,459|997,800|116,391|2,745,650| ||Carrying
amount
At 30April 2021|||4,392,700||42,280|4,434,980| ||At 30April 2020|||4,465,311|8,030|65,722|4,539,063| |18.|Stocks||||||| |||||||2021|2020| |||||||E|E| ||Raw materials|and consumables||||129,803|152,824| |19.|Debtors||||||| |||||||2021|2020| |||||||E|E| ||Amounts
owed by group undertakings
Prepayments
and accrued income
Other debtors|||||23,150
13,378|9,130
36,512
19,685| |||||||36,528|65,327| |20.|Creditonn
amounts||falling due within|one year|||| |||||||2021|2020| ||||||||E| ||Trade creditors|||||20,991|21,838| ||Amounts
received on||account|||216,341|84,102| ||Accruals and deferred||income|||24,530|24,774| ||Social security
Other creditors|and other taxes||||560
9,685|2,671
15,388| |||||||272,107|148,773| ## ## ## ## ## ## |Government|grants|grants|||| |---|---|---|---|---|---| |The amounts|recognised
in the financial statements||for government|grants are as follows:
2021|2020| |||||8|| |Recognised|in income from donations|and legacies:|||| |Government|grants income|||98,769|| ## ## ## ## |Analysis ofcharitable|funds||||| |---|---|---|---|---|---| ||Balance at||Expenditur||Balance at| ||1 May 2020|Income
5|e
5|Transfers
f|30Apr 2021
F| |Provision of Hydro|||||| |Electric Power|6,061|1,200|||7,261| |Special Projects
Camp Friends
Devon Ministries|2,082
26,837|1,250
2,370
490|(490)||3,332
29,207| |Estate snd Buildings
Inglis Fund|2,938|417|(417)||2,938| |Mission and Outreach||250|(250)||| |Community
Project|1,750||||1,750| |Total|39,668|5,977|(1,157)||44,488| ## ## ## ## ## ## |24.|Analysis of net as|se|ts between funds|||| |---|---|---|---|---|---|---| |||||Unrestdicted|Restricted|Total Funds| |||||Funds|Funds|2021| |||||E||E| ||Tangible fixed assets
Current assets|||4,434,980
795,428|44,488|4,434,980
839,916| ||Creditors less than|1|year|(272,107)||(272,107)| ||Net assets|||4,958,301|44,488|5,002,789| |||||Unrestricted|Restricted|Total Funds| |||||Funds|Funds|2020| |||||f|F|E.| ||Tangible fixed assets
Current assets|||4,539,063
1,017,146|39,668|4,539,063
1,056,814| ||Creditors less than|1|year|(148,773)||(148,773)| ||Net assets|||5,407,436|39,668|5,447,104| |25.|Analysis ofchanges||in net debt|||| |||||At||At| |||||1 May 2020|Cash flows|30Apr 2021| ||||||F|F| ||Cash at bank and|in|hand|838,663|(165,078)|673,585| |26.|Related parties||||||