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|||||||PAGE|
|---|---|---|---|---|---|---|
|Trustees'
annual
report (incorporating||the|director's|report)|||
|Independent
auditor's
report to|the members||||||
|Statement of financial
activities|(induding||income and expenditure||account)|10|
|Statement of financial
position|||||||
|Statement ofcash flows||||||12|
|Notes to the financial statements||||||13|
|Reference|and administrative|and administrative|details|||||
|---|---|---|---|---|---|---|---|
|Registered|charity name||The Percy Bilton||Charity|||
|Charity registration||number|1094720|||||
|Company|registration|number|04529052|||||
|Principal oNce and registered|||7 Culmington|Road||||
|oNce|||Ealing|||||
||||London|||||
||||W13 9NB|||||
|The trustees||||||||
||||Mr] R Lee|||||
||||Ms H Bilton|||||
||||Ms K Lansdown|||||
||||Mr C L Sosna|||||
||||Mr BChance|||||
|Company|secretary||Ms K Lansdown|||||
|Auditor|||BSG Valentine|(UK) LLP||||
||||Chartered
Accountants|||8 Statutory|Auditor|
||||Lynton
House|||||
||||7-12 Tavistock|Square||||
||||London WC1H|9BQ||||
|Bankers|||HSBC Bank PLC|||||
||||46The Broadway|||||
||||London|||||
||||W5 5jR|||||
|Solicitors|||Maples Teesdale||LLP|||
||||30 King Street|||||
||||London|||||
||||EC2V BEE|||||
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|||||2021||2020|
|---|---|---|---|---|---|---|
||||Unrestricted|Endowment|||
||||funds|funds|Total funds|Total funds|
|||Note||||f|
|Income and endowments|||||||
|Charitable
activities
Investment
income||5
6|16,000
769,056||16,000
769,056|1,100
831,886|
|Tota I income|||(85,056||||
|Expenditure|||||||
|Expenditure
on raising funds:|||||||
|Investment
management|costs|7||102,681|102,681|102,473|
|Expenditure
on charitable
activities||8,9|1,096,055||1,096,055|906,160|
|Total expenditure|||1,096,055|102,681|1,198,73|1,008,633|
|Net lasses/(gains)
on investments||12||(7,334,750)|(7,334,750),136,067||
|Net income/(expenditure)|and net||||||
|movement
in funds|||(310,999)|7,232,069|6,921,070|(3,311,714)|
|Reconciliation
offunds|||||||
|Total funds brought
forward|||2,457,267|22,050,453|24,507,720|27(819,434|
|Total funds carried forward|||2,146,268|29,282,522|31,428,790|24,507,720|
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|||STATEM|ENT O|F FINANCIAL|POSITION|||
|---|---|---|---|---|---|---|---|
||||31|MARCH 2021||||
|||||2021||2020||
||||Note|||||
|Fixed assets||||||||
|Tangible
fixed assets
investments|||%6
17||440(229
29,902,380||440,229
23,495,0SI|
||||||30,342,609||23,935(280|
|Current assets||||||||
|Debtors|||18|686||787||
|Cash at bank and|in hand|||1,120,420||601,191||
|||||l(121,106||601,978||
|Creditors: amounts||falling due||||||
|within one year|||19|(34,925)||(29,538)||
|Net current assets|||||1,086,181||S72,440|
|Total assets less|current liabilities||||31,428,790||24,S07,720|
|Net assets|||||31,428,790||24,507,720|
|Funds ofthe charity||||||||
|Endowment
funds|||||29,282,522||22/050, 453,|
|Unrestricted
funds|||||2,146,268||2,457,267|
|Total charity funds|||||31,428,790||24,507,720|
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|YEAR END|ED 31MARCH 2|021||
|---|---|---|---|
|||2021|2020|
|||E||
|Cash flows from operating
actNities||||
|Net income/(expenditure)||6,921,070|(3,311,714)|
|Adjusfrnenh
for:||||
|Net losses/(gains)
on investments||(7,334,750)|3,136,067|
|Dividends,
interest
and rents from investments||(769,056)|(831,886)|
|Accrued expenses/(income)||5,485|(7,021)|
|Changes in:||||
|Trade and other debtors||101|(175)|
|Trade and other creditors||(98)|1,042|
|Cash generated
from operations||(1 177 248)|(1IO13,687)|
|Net cash used
in operating
activities||(1,177,248)|(1,013,687)|
|Cash flows from investing
activities||||
|Dividends,
interest and rents from investments||769,056|831,886|
|Purchases of other investments||(4,017,566)|(6,183,556)|
|Proceeds from sale of other investments||4,944,987|6,382,721|
|Net cash from investing
activities||1,696,477|1,031,051|
|Net increase
in cash and cash equivalents||519,229|17,364|
|Cash and cash equivalents
at beginning|ofyear|601,191|583,827|
|Cash and cash equivalents
at end ofyear||1,120,420|601,191|
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||||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||Funds|2021|Funds|2020|
||||||||E||E|E|
||Grants|returned|||||16,000|16,000|1,100|1,100|
|6.|Investment|||income|||||||
||||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
||||||||Funds|2021|Funds|2020|
||||||||E||E|E|
||Income|from||listed investments|||769,056|769,056|831,886|831,886|
|7.|Investment|||management||costs|||||
||||||||Endowment|Total Funds|Endowment|Total Funds|
||||||||Funds|2021|Funds|2020|
||||||||E|E|E|f|
||Investment||management||fees||102,681|102,681|102,473|102,473|
|8.|Expenditure|||on charitable||activities|by fund type||||
||||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
||||||||Funds|2021|Funds|2020|
||||||||f|E|f|E|
||Grants|payable|||||1,002,671|1,002,671|800,768|800,768|
||Support|costs|||||937384|93,384|105,392|105,392|
||||||||1,096,055|1,096,055|906,160|906,160|
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|9.|Expenditure|on char|itable
activities by activity t|itable
activities by activity t|ype|||
|---|---|---|---|---|---|---|---|
||||Grant funding|||Total funds|Total fund|
|||||ofactivities|Support costs|2021|2020|
|||||E|E|E|E|
||Grants payable|||1,002,671||1,002,671|800,768|
||Grant support|costs|||83,296|83,296|95,3'l3|
||Governance
costs||||10,088|10,088|10,049|
|||||1,002,671|93384|1096/055|906,160|
|10.|Analysis ofsupport||costs|||||
||||||Analysis of|||
||||||support costs
E|Total 2021|Total 2020
f|
||Staff costs||||73,519|73,519|73,922|
||Premises||||5,761|5,761|11,828|
||General oNce||||4,016|4/016|9,593|
||||||83,296|83,296|95,343|
|11.|Analysis ofgrants|||||||
|||||||2021|2020|
|||||||E|E|
||Grants to institutions|||||||
||Grants to institutions|||||730,844|486,305|
||Grants to individuals|||||||
||Grants to individuals|||||271,827|314,463|
||Total grants|||||1,002,671|800,768|
|12.|Net losses/(gains)||on investments|||||
|||||Endowment|Total Funds|Endowment|Total Funds|
|||||Funds|2021|Funds|2020|
|||||E||f||
||Gains/(losses)|on listed investments||7 334/750|7/334 750|(3 136/067)|(3/136 067)|
|13.|Auditors remuneration|||||||
|||||||2021|2020|
|||||||E|E|
||Fees payable|for the audit ofthe financial||statements||6,600|6,600|
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|Staff co|sts|||||
|---|---|---|---|---|---|
|The total|staff costs and|employee|beneRts for the reporting|period are analysed
as|follows:|
|||||2021|2020|
||||||E|
|Wages and salaries||||65,704|65,366|
|Social security costs||||2,673|3,459|
|Employer|contributions|to pension|plans|5,142|5,097|
|||||73,519|73,922|
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|Tangible|fixed assets||||
|---|---|---|---|---|
|||Freehold|||
|||buildings|Equipment|Total|
|||E|E|E|
|Cost|||||
|At 1April|2020 and 31March 2021|4'}0,000|14,515|454,515|
|Depreciation|||||
|At 1April|2020 and 31March 2021||14,286|14,286|
|Carrying|amount||||
|At 31March 2021||440,000|229|440,229|
|At 31 March 2020||440,000|229|440,229|
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|Investments||
|---|---|
||Listed|
||investments|
||E|
|Cost or valuation||
|At 1 April 2020|23,495,051|
|Additions|4,017,566|
|Disposals|(4,944,987)|
|Fair value movements|7,334,750|
|At 31March 2021|29,902,380|
|Carrying
amount||
|At 31March 2021|29,902,380|
|At 31 March 2020|23,495,051|
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|18.|Debtors||||||
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||E|E|
||Prepayments|and accrued||income|611|612|
||Other debtors||||75|175|
||||||686|787|
|19.|Creditors: amounts||falling due within one year||||
||||||2021|2020|
||||||E|E|
||Accruals and|deferred|income||33,918|28,433|
||Other creditors||||1,007|1,105|
||||||34,925|29,538|
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||||At||||Gains and|At|
|---|---|---|---|---|---|---|---|---|
||||1 Apr 2020|Income|Expenditure|Transfers|losses 31 Mar 2021||
||||E|E|E|E|E|E|
|General|funds||2,338,977|785,056|(1,096,055)|(78,929)||1,949,049|
|Designated|||||||||
|special|reserve||||||||
|fund|||118,290|||78,929||197,219|
||||2,457,267|785,056|(1,096,055)|||2,146,268|
||||At||||Gains and|At|
||||1 Apr 2019|Income|Expenditure|Transfers|losses 31 Mar 2020||
||||E|E|E|E|E|E|
|General|funds||2,230,780|832,986|(906,160)|181,371||2,338,977|
|Designated|||||||||
|spedal|reserve||||||||
|fund|||299,661|||(181,371)||118,290|
||||2,530,441|832,986|(906,160)|||2,457,267|
|Endowment||funds|||||||
||||At||||Gains and|At|
||||1 Apr 2020|Income|Expenditure|Transfers|losses 31 Mar 2021||
||||E|E|E|E|E|E|
|Expendable|||||||||
|endowment|||22,0S0,453||(102,681)||7,334,7SO|29,282,522|
||||At||||Gains and|At|
||||1 Apr 2019|Income|Expenditure|Transfers|losses 31 Mar 2020||
||||E|E|E|E|E|E|
|Expendable
endowment|||25I288,993||(102,473)||(3,136,067)|22,050,453|
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|Analysis|ofnet a|ssets between
funds||||
|---|---|---|---|---|---|
||||Unrestricted|Endowment|Total Funds|
||||Funds|Funds|2021|
|||||E|E|
|Tangible|fixed assets||440,229||440,229|
|Investments|||592,836|29,309,544|29,902,380|
|Current|assets||1,121,106||1,121,106|
|Creditors|less than|1year|(7,903)|(27,022)|(34,925)|
|Net assets|||2,146,268|29,282,522|31,428,790|
||||Unrestricted|Endowment|Total Funds|
||||Funds|Funds|2020|
||||E|E|E|
|Tangible
fixed assets
Investments|||440,229
1,423,061|22,071,990|440,229
23,495,051|
|Current|assets||601,978||601,978|
|Creditors|less than|1year|(8,001)|(21,537)|(29,538)|
|Net assets|||2,457,267|22,050,453|24,507,720|
##
|Anal|ysis|of|chan|ge|s
in net debt|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||At||
|||||||At|1|Apr 2020|Cash flows|31Mar|2021|
|||||||||E|E||E|
|Cash|at|bank|and|in|hand|||601,191|519,229|1,120,420||
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