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|||Pages|
|---|---|---|
|Directors' Report||1- 10|
|Statement ofDirectors' Responsibilities|||
|Auditors'
Report||12 —14|
|Consolidated
Statement|ofFinancial Activities|15|
|Consolidated
Balance Sheet||16|
|Charity Balance Sheet||17|
|Consolidated
Statement|ofCash Flows|18|
|Notes to the Consolidated|Financial Statements|19-33|
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|office during the|year are as follows:||
|---|---|---|
|The Patron|Mrs Jennifer Tolhurst, The Lord Lieutenant|ofEssex|
|President|Mr G Courtauld
OBE,DL||
|Vice-Presidents|Mr D Boyle JP, DL||
||The Revd. Canon JBrown DL||
||Cllr JJowers||
||Mr CManning-Press
DL||
||Lord Petre KCVO||
||Professor JPretty OBE||
||Mr RWoolley||
|Treasurer|Mr PConway FCA||
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|||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|
||Notes|funds|funds|2021|2020|
|Income from:|||Note 10||Note 15|
|Charitable
activities|2|406,052|1,103,539|1,509,591|1,630,674|
|Donations||2,340||2,340|5,499|
|Investments||||||
|Rents receivable|1iv|29,902||29,902|20,002|
|Interest receivable||1,235||1,235|1,764|
|Total income||439,529|1,103,539|1,543,068|1,657,939|
|Expenditure
on:||||||
|Charitable
activities|3|392,380|917,283|1,309,663|1,511,164|
|Investment
management||||||
|Rental overheads|1iv|9,497||9,497|21,145|
|Total expenditure||401,877|917,283|1,319,160|1,532,309|
|Net income before transfers||37,652|186,256|223,908|125,630|
|Transfers between funds||||||
|Net income after transfers||37,652|186,256|223,908|125,630|
|Total funds brought forward||797,417|134,834|932,251|806,621|
|Total funds carried forward||6835,069|6321,090|61,156,159|6932,251|
##
||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
|||Notes|funds|funds|2021|2020|
|||||6|||
|||||||Note 16|
|Net income as per the|Consolidated||||||
|Statement ofFinancial Activities|||37,652|186,256|223,908|125,630|
|Adjustments
for:|||||||
|Rents receivable|||(29,902)||(29,902)|(20,002)|
|Interest receivable|||(1,235)||(1,235)|(1,764)|
|Rental overheads
payable|||9,497||9,497|21,145|
|Depreciation
charges|||6,537||6,537|6,621|
|Decrease/(increase)|in debtors||(36,279)|(5,634)|(41,913)|16,860|
|Increase/(decrease)|in creditors||(30,918)|(45,515)|(76,433)|70,839|
|Net cash provided
by operating|||||||
|activities|||(44,648)|135,107|90,459|219,329|
|Cash flows from investing||activities:|||||
|Rents received|||29,589||29,589|19,938|
|Interest received|||1,235||1,235|1,764|
|Rental overheads
paid|||(10,469)||(10,469)|(20,252)|
|Net cash provided
by investing|||||||
|activities|||20,355||20,355|1,450|
|Cash flows from financing||activities:|||||
|Mortgage repayments||7|(18,579)||(18,579)|(17,050)|
|Net cash (used in) financing||activities|(18,579)||(18,579)|(17,050)|
|Net change in cash|||(42,872)|135,107|92,235|203,729|
|Cash balances brought|forward||265,072|205,775|470,847|267,118|
|Cash balances carried forward|||6222,200|6340,882|6563,082|6470,847|
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|Taxation|Taxation||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|The company
is a charity||within
the meaning||||of section 506(1) of the Taxes Act 1988.|||||
|Accordingly,
the company||is potentially||exempt|||from|taxation|in respect of|income
or|
|capital gains received within||the categories||covered|||by Section 505 ofthe Taxes Act 1988or||||
|Section 256 of the Taxation||of Chargeable|Gains Act 1992to the||||||extent that such|income or|
|gains are applied to exclusively
charitable|||purposes.||||||||
|INCOME FROM CHARITABLE||ACTIVITIES|||||||||
|Acflvity|||||||||2021
6|2020f|
|Community
Engagement|||||||||111,557|120,369|
|Rural Housing Enabler Service|||||||||37,210|37,015|
|Village Halls Advice Service|||||||||47,303|49,340|
|Community
Agents Essex|||||||||783,000|619,500|
|Home from Hospital / Social Prescription
Service|||||||||62,500|257,695|
|Social Isolation &Loneliness Programme|||||||||269,739|256,390|
|Essex Rural Skills Project||||||||||97,042|
|Help Essex Buy Local|||||||||14,979||
|Growing Communities|||||||||2,500|2,500|
|Strategic Influencing
and Partnership|Working||||||||132,503|128,471|
|Essex Rivers|||||||||47,800|59,160|
|Restricted Grant Making Funds (Note||10)|||||||500|3,192|
|||||||||61,509,591||EI,630,674|
|The above figures include the|following
'government||||grants':||||||
|Source||Acd'vitC|||||||||
|Essex County Council||Community|Agents||||||753,000|612,500|
|Essex County Council||Social Isolation||Programme|||||256,390|256,390|
|Essex County Council||AII unrestricted||activities|||||150,000|150,000|
|DEFRA (via ACRE)||All unrestricted||activities|||||48375|47,475|
|DEFRA||Essex Rivers|||||||47,800|59,160|
|BigLottery Fund||Essex Rural Skigs Project||||||||97,042|
|District/Borough
Councils||Rural Housing||Enabler|||||5,000|5,000|
|Total government
grants|||||||||81460,565|K1,227,567|
##
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|PENDITURE ON CHARITABLE ACTI|VITIES|||
|---|---|---|---|
||Direct|Support|Total|
|Year to31March 2021|costs|costs|2021|
||f.|||
|Community
Engagement|51,847|54,767|106,614|
|Rural Housing
Enabler Service|19,914|15,647|35,561|
|Village Halls Advice Service|26,952|18,255|45,207|
|Community
Agents Essex|620,166|30,900|651,066|
|Home from Hospital / Social Prescription|57,500|5,000|62,500|
|Social Isolation &Loneliness Programme|210,248||210,248|
|Help Essex Buy Local|15,867||15,867|
|Growing Communities|2,077||2,077|
|Strategic Influencing
and Partnerships|84,906|41,726|126,632|
|Essex Rivers|40,399|9,799|50,198|
|Restricted Grant Making Funds (Note 10)|3,693||3,693|
||1,133,569|176,094|1,309,663|
||Direct|Support|Total|
|Year to31March 2020|costs|costs|2020|
||6|||
|Community
Engagement|61,234|57,156|118,390|
|Rural Housing
Enabler Service|20,075|16,330|36,405|
|Village Halls Advice Service|29,477|19,052|48,529|
|Community
Agents Essex|556,853|30,900|587,753|
|Home from Hospital / Social Prescription|226,553|10,000|236,553|
|Social Isolation &Loneliness Programme|172,141||172,141|
|Essex Rural Skills Project|116,067||116,067|
|Growing Communities|3,219||3,219|
|Strategic Influencing
and Partnerships|82,811|43,548|126,359|
|Essex Rivers|55,719|4,401|60,120|
|Restricted Grant Making Funds|5,628||5,628|
||61,329,777|6181,387|61,511,164|
##
||||||2021|2020|
|---|---|---|---|---|---|---|
|Wages and|salaries||||628~9|730,599|
|Employer's|national|insurance|contributions||36,347|46,947|
|Employer's|cont'ns|- defined|benefit pension scheme||111,547|109,502|
|Employer's|contributions - defined contribution|||pension scheme|5,292|6,279|
|Total salary|and on-costs||||678L535|f893,327|
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||Long-||ICT||Fixtures||
|---|---|---|---|---|---|---|
||leasehold|Office|hardware|&|&||
||properly|equipment|software||fittings|Total|
|||6|6||6||
|Cost/ Valuation|||||||
|As at 1 April 2020and|||||||
|31March 2021|725,000|18,612|11,911||4,704|760,227|
|Depreciation|||||||
|As at 1April 2020|20,400|14,857|11,911||3,685|50,853|
|Charge for period|4,080|2,253|||204|6,537|
|As at 31March 2021|24,480|17,110|11,911||3,889|57,390|
|Net book value|||||||
|As at 31March 2020|6704,600|f3,755|||EL019|6709,374|
|As at 31March 2021|6700,520|I L502|6||6815|6702,837|
##
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|FIXED|ASSET|INVEST|MENTS (ofthe Group an|d the Charity)||
|---|---|---|---|---|---|
|||||2021|2020|
|||||E|E|
|National|Savings|- Income|Bonds|E100,000|E100,000|
##
|DEBTORS|||||||
|---|---|---|---|---|---|---|
|||||Group||Charity|
||||2021|2020|2021|2020|
|||||E|||
|Trade debtors|||85,199|26,992|85,199|26,992|
|Intercompany
debtor||||||213|
|Grants receivable|||7773|25,129|7,773|25,129|
|Other debtors|||3,055|2,167|3,055|2,167|
|Prepayments|||2,460|1,973|2,460|1,973|
||||E98,487|656,261|E98,487|f'56,474|
|CREDITORS|||||||
|||||Group||Charity|
||||2021|2020|2021|2020|
|||||E|E|E|
|Amounts
fallin|due within one|ear|||||
|Trade/other
creditors|||40,757|113,487|40,757|113,487|
|Income received|in advance||5,911|4,700|5,911|4,700|
|Accruals|||33,823|46,340|33,823|46,340|
|Mortgage capital|instalments||18,217|18,758|18,217|18,758|
|Value added tax|||12,382|3,081|12,382|3,081|
|Pay-as-you-earn|tax (PAYE)||8,156|10,826|8,156|10,826|
||||E119,246|E197,192|6119,246|E197,192|
##
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|CREDIT|ORS -|continued||||||
|---|---|---|---|---|---|---|---|
||||||Group||Charity|
|||||2021|2020|2021|2020|
|||||6||||
|Amounts|fallin|due after one|ear|||||
|Mortgage|capital|instalments||6189,001|6207,039|6189,001|6207,039|
##
|FINANCIAL INSTRUMENTS|||||
|---|---|---|---|---|
|||Group||Charity|
||2021|2020|2021|2020|
|||6||6|
|Financial Assets|||||
|Fixed asset investments
(Note 5)|100,000|100,000|100,000|100,000|
|Trade debtors (Note 6)|85,199|26,992|85,199|26,992|
|Cash at bank and in hand|563,082|470,847|563,082|470,634|
|Carrying value offinancial assets|6748,281|f597,839|6748,281|f597,626|
|Financial Liabilities|||||
|Trade/other
creditors (Note 7)|40,757|113,487|40,757|113,487|
|Mortgage capital instalments
(Note 7)|207,218|225,797|207,218|225,797|
|Carrying
value offinancial liabilities|6247,975|6339,284|6247,975|f339,284|
##
|ark buildin|g - is as foBows:|||
|---|---|---|---|
|||2021|2020|
|Receivable|within 1year|27,936|27,456|
|Receivable|between 1and 5years|11,394|38,730|
|||f39,330|666,186|
##
##
||||||Activities|Grant||||
|---|---|---|---|---|---|---|---|---|---|
||||Balance||under-|funding|Total||Balance|
||||1April|Total|taken|of|expend-|Tfarls-|31March|
||||2020|income|directly|activities|iture|fers|2021|
|Restricted|Activities|described||||||||
|in the Directors' Report||||||||||
|Community|Agents Essex||31,747|783,000|349,066|302,000|651,066||163ax31|
|Social Isolation and Loneliness|||84,249|269,739|209766|982|210348||143,740|
|Growing Communities|||2,523|2300|2AI77||2,077||2,946|
|Essex Rivers|||2,398|47,800|50,198||50,198|||
|Restricted|Grant-Making|||||||||
|Funds||||||||||
|'Making It|Happen'||2,000||||||2,000|
|'Surviving|Winter Appeal Fund'||503|||501|501||502|
|Hovefields|fcHongey|Forum|3,192|||2A12|3,192|||
|'Natural
Environment'||Project|6,700||||||6,700|
|'Fighting
Rural Crime'||Project|1,522||||||1422|
|||||El,103,539|f611,387|f3062I95|6917,283|6-|f'321,090|
##
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|UNREST|RICTED FUNDS|(ofthe Group an|d the Charity)|||
|---|---|---|---|---|---|
||||Designated|Free Core|Total|
||||Capital|Charitable|Unrestricted|
||||Fund|Funds|Funds|
||||6||6|
|As at 1April 2020|||478,803|318,614|797,417|
|Net movement
in unrestricted||funds||37,652|37,652|
|Transfers|to/ from Designated|Capital Fund:||||
|Reduction|in value oflong leasehold property||(4,080)|4,080||
|Reduction|in mortgage||18,579|(18,579)||
|As at31March 2021|||6493,302|634L767|6835,069|
##
|2017valuations
o|verleaf,|were as follo|ws:||||
|---|---|---|---|---|---|---|
|||||Ongoing Valuation|FRS102|FRS102|
|||||2018|2018|2017|
|Financial assum|tions||||||
|RPI increases||||3.57%|3.3%|3.6%|
|Salary increases||||4.17%|2.3%|4.2%|
|Pension increases||||2.67%|2.3%|2 7%|
|Discount rate||||5.19%|2.6%|2.8%|
|Assumedlifeex|ectanc|from a e65|ears||||
|Retiring today - males||||22.2|22.2|22.1|
|Retiring today - females||||24.7|24.7|24,6|
|Retiring in 20years - males||||24.4|24.4|24.3|
|Retiring in 20years - females||||27.0|27.0|26.9|
##
##
##
|actuary's
estimate
ows:|d
asset allocation for|the company
as at|the 2018 and 2017year-|ends
was|
|---|---|---|---|---|
||||2018|201/|
|Equities|||66%|68%|
|Gilts / other bonds|||11%|8%|
|Property|||9%|10%|
|Cash / alternative|assets / other managed|funds|14%|14%|
|se assumptions
gave rise to the following
va|luations:|||
|---|---|---|---|
||Ongoing Valuation|FRS102|FRS102|
||2018|2018|2017|
|Present value ofdefined benefit liabilities|(61,437,000)|(62,340,000)|(62,327,000)|
|Fair value offund assets|62,038,000|EI,999,000|f1,706,000|
|Net defined benefit pension asset/(liability)|6601,000|(f341,000)|(&21,000)|
##
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##
||||||2021|2020|
|---|---|---|---|---|---|---|
|Financial assum|tions||||||
|RPI increases|||||3.15%|2.65%|
|Salary increases|||||2.80%|1.85%|
|Pension increases|||||2.80%|1.85%|
|Discount rate|||||2.00%|235%|
|Assumedlifeex|ectanc
from a e65||ears||||
|Retiring today - males|||||21.6|21.8|
|Retiring today - females|||||23.6|23.7|
|Retiring in 20years||- males|||22.9|23.2|
|Retiring in 20years||- females|||25.1|25.2|
|The actuary's estimated||asset allocation for the company as at the|||year-end was as follows:||
||||||2021|2020|
|Equities|||||62%|59%|
|Gilts / other bonds|||||8%|10o/|
|Property|||||7%|9%|
|Cash / alternative|assets / other managed|||funds|23%|22%|
|Anal sis ofthe amounts|that would have been reco|that would have been reco|ised in the|2021|2020|
|---|---|---|---|---|---|
|SOFA under FRS102||||6"000|6"000|
|Current service cost||||(115)|(148)|
|Net interest on the defined benefit pension liability||||(2)|(8)|
|Total amount
that would|have been recognised|in net|income|(117)|(156)|
|Return on fund assets in|excess ofinterest|||616|(178)|
|Other actuarial gains|||||20|
|Changes in financial &demographic
assumptions||||(840)|309|
|Experience (gain) on defined benefit obligations||||28|143|
|Total amount that would|have been recognised|as an|actuarial|||
|(loss)/gain||||(196)|294|
|Net amount that would have been recognised||in the SOFA||(313)|138|
##
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|12|DEFINED BENEFITPENSION S|CHEME —continued|CHEME —continued|CHEME —continued|CHEME —continued||||
|---|---|---|---|---|---|---|---|---|
||Anal sis ofthe amount that would|have been reco
ised||||in the|2021|2020|
||Balance Sheet under FRS102||||||6'000|L000|
||Present value ofdefined benefit scheme||liabilities||||3,371|2,382|
||Fair value offund assets (bid value)||||||3,072|2,285|
||Net defined benefit pension liability||||||299|97|
||Reconciliation ofthe o enin
and closin|||balances ofthe||resent|2021|2020|
||value ofthe defined benefit scheme|liabilities|||under FRS102||6'000|L000|
||Opening present value ofdefined benefit scheme||||liabilities||2,382|2,611|
||Current service cost||||||115|148|
||Interest cost||||||56|64|
||Changes in financial &demographic|assumptions|||||840|(309)|
||Experience (gain) on defined benefit|obligations|||||(28)|(143)|
||Estimated
benefits paid net oftransfers||in||||(14)|(13)|
||Contributions
by scheme participants||||||20|24|
||Closing present value ofdefined benefit||scheme liabilities||||3,371|2,382|
||Reconciliation ofthe o enin
and closin|||balances ofthe||fair|2021|2020|
||value ofthe fund assets
under FRS|102|||||6'000|6"000|
||Opening fair value offund assets||||||2,285|2,265|
||Interest on assets||||||54|56|
||Return on assets less interest||||||616|(178)|
||Other actuarial gains|||||||20|
||Estimated
benefits paid net oftransfers||in||||(14)|(13)|
||Contributions
by employer||||||111|111|
||Contributions
by scheme participants||||||20|24|
||Closing fair value offund assets||||||3,072|2,285|
|13|ANALYSIS OFGROUP NET ASSETSBETWEEN FUNDS||||||||
||Unrestricted|Restricted|Total|
|---|---|---|---|
|31March 2021|Funds|Funds|Funds|
|||6||
|Tangible fixed assets|702,837||702,837|
|Fixed asset investments|100,000||100,000|
|Current assets —debtors|60,714|37,773|98,487|
|Current assets —cash at bank and in hand|222,200|340,882|563,082|
|Current liabilities|(61,681)|(57,565)|(119,246)|
|Long-term
liabilities|(189,001)||(189,001)|
|Net assets at 31March 2021|Q65,069|6321,090|EL156,159|
##
##
##
||Unrestricted|Restricted|Total|
|---|---|---|---|
|31March 2020|Funds|Funds|Funds|
||6||6|
|Tangible fixed assets|709,374||709,374|
|Fixed asset investments|100,000||100,000|
|Current assets —debtors|24,122|32,139|56,261|
|Current assets —cash at bank and in hand|265,072|205,775|470,847|
|Current liabilities|(94,112)|(103,080)|(197,192)|
|Long-term
liabilities|(207,039)||(207,039)|
|Net assets at 31March 2020|6797,417|6134,834|f932,251|
##
##
##
||Unrestricted|Restricted||
|---|---|---|---|
|Year ended 31March 2iy20|funds|funds|Total|
||||E|
|Income from:||||
|Charitable
activities|592,890|1,037,784|1,630,674|
|Donations|5,499||5,499|
|Investments||||
|Rents receivable|20,002||20,002|
|Interest receivable|1,764||1,764|
|Total income|620,155|1,037,784|1,657,939|
|Expenditure
on:||||
|Charitable
activities|566,236|944,928|1,511,164|
|Investment
management||||
|Rental overheads|21,145||21,145|
|Total expenditure|587,381|944,928|1,532,309|
|Net income before transfers|32,774|92,856|125,630|
|Transfers between funds|(12,590)|12,590||
|Net income after transfers|20,184|105,446|125,630|
|Total funds brought forward|777,233|29,388|806,621|
|Total funds carried forward|6797,417|6134,834|6932,251|
##
##
|||Unrestricted|Restricted||
|---|---|---|---|---|
|Year ended 31March 2020||funds|funds|Total|
|Net income as per the Consolidated|||||
|Statement ofFinancial Activities||20,184|105,446|125,630|
|Adjustments
for:|||||
|Rents receivable||(20,002)||(20,002)|
|Interest receivable||(1,764)||(1,764)|
|Rental overheads
payable||21,145||21,145|
|Depreciation
charges||6,621||6,621|
|Decrease/(increase)
in debtors||32,036|(15,176)|16,860|
|(Decrease) in creditors||650|70,189|70,839|
|Net cash provided by/ (used|in)||||
|operating
activities||58,870|160,459|219,329|
|Cash flows from investing|activities:||||
|Rents received||19,938||19,938|
|Interest received||1,764||1,764|
|Rental overheads
paid||(20,252)||(20,252)|
|Net cash provided
by investing|||||
|aclivities||1,450||1,450|
|Cash flows from financing|activities:||||
|Mortgage repayments||(17,050)||(17,050)|
|Net cash (used in) financing|activities|(17,050)||(17,050)|
|Net change in cash||43,270|160,459|203,729|
|Cash balances brought forward||221,802|45,316|267,118|
|Cash balances carried forward||6265,072|f205,775|6470,847|