| Page | Page | ||
|---|---|---|---|
| Chairman's Report |
|||
| Report ofthe Trustees | 2 | to | 4 |
| Independent Examiner's Report |
|||
| Statement ofFinancial Activities | |||
| Balance Sheet | 7 | to | 8 |
| Cash Flow Statement | |||
| Notes to the Cash Flow Statement | 10 | ||
| Notes to the Financial Statements | 11 | to | 19 |
| Detailed Statement ofFinancial Activities | 20 | to | 21 |
| for the Y | ear Ende | d 31Decembe | r 2020 | ||
|---|---|---|---|---|---|
| 31.12.20 | 31.12.19 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | fullds | ||
| Notes | |||||
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies |
2 | 225,666 | 225,666 | 301,574 | |
| Charitable activities |
|||||
| Suffolk Punch Heritage Centre | 50,157 | 18,177 | 68,334 | 24,778 | |
| Other trading activities Investment income |
156,379 1,030 |
156,379 1,030 |
273,684 1,356 |
||
| Total | 433,232 | 18,177 | 451,409 | 601,392 | |
| EXPENDITURE ON | |||||
| Charitable activities |
|||||
| SuAolk Punch Heritage Centre Supporting the continuation ofthe Suffolk Punch |
340,982 38,417 |
24,019 | 365,001 38,417 |
380,534 22,586 |
|
| Total | 379,399 | 24,019 | 403,418 | 403,120 | |
| NET INCOME/(EXPENDITURE) | 53,833 | (5,842) | 47,991 | 198,272 | |
| Transfers between funds | 18 | (10,670) | 10,670 | ||
| Other recognised gains/(losses) |
|||||
| Gains/(losses) on revaluation offixed assets |
(10,707) | (10,707) | (1,485) | ||
| Net movement in funds |
43,163 | (5,879) | 37,284 | 196,787 | |
| RECONCILIATION OFFUNDS | |||||
| Total funds brought forward | 318,256 | 1,597,194 | 1,915,450 | 1,718,663 | |
| TOTAL FUNDS CARRIED FORWARD | 361,419 | 1,591,315 | 1,952,734 | 1,915,450 |
| Cash Flow Statement | ||||||
|---|---|---|---|---|---|---|
| for | the Year Ended 31December | 2020 | ||||
| 31.12.20 | 31.12.19 | |||||
| Notes | ||||||
| Cash flows from operating | activities | |||||
| Cash generated &om operations |
86,733 | 264,782 | ||||
| Net cash provided by operating activities |
86,733 | 264,782 | ||||
| Cash flows from investing | activities | |||||
| Purchase oftangible fixed assets Sale oftangible fixed assets Unrealised gain/loss sale oflivestock Interest received |
(86„739) 35,718 (10,709) 472 |
(66,836) 6,775 (1,485) 798 |
||||
| Net cash used in investing | activities | (61,258) | (60,748) | |||
| Change in cash and cash | equivalents | in | ||||
| the reporting period Cash and cash equivalents |
at the | 25,475 | 204,034 | |||
| beginning oftbe reporting | period | 293,980 | 89,946 | |||
| Cash and cash equivalents | at the end | of | ||||
| the reporting period |
319,455 | 293,980 |
| 31.12.20 | 31.12.19 | |||
|---|---|---|---|---|
| Net income for the | reporting | period (as per the Statement ofFinancial | ||
| Activities) | 47,991 | 198,272 | ||
| Adjustments for: |
||||
| Depreciation charges Loss/(profit) on disposal offixed assets |
26,369 11,359 |
24,100 (3,825) |
||
| Interest received | (472) | (798) | ||
| Increase in stocks | (1,319) | (1,823) | ||
| (Increase)/decrease | in debtors | (1,824) | 55,651 | |
| Increase/(decrease) | in creditors | 4,629 | (6,795) | |
| Net cash provided | by operations | 86,733 | 264,782 |
| At 1.1.20 | Cash flow | At 31,12.20 | |
|---|---|---|---|
| Net cash | |||
| Cash at bank and in hand | 293,980 | 25,475 | 319,455 |
| 293,980 | 25,475 | 319,455 | |
| 293,980 | 25,475 | 319,455 |
| Single fium entitlements | Not depreciated | ||
|---|---|---|---|
| Freehold property | Not depreciated | ||
| Visitor centre and cafe equipment | Straight line over 3years | ||
| Plant and machinery | Miscellaneous | equipment | Straight line over 10years |
| Plant and machinery | Farm equipment | Straight line over 15years | |
| Plant and machinery Livestock |
AI equipment | Straight line over 10years Not depreciated |
|
| Heritage artifacts | Not depreciated | ||
| Motor vehicles Visitor centre and land |
Straight line over 10years Not depreciated |
| company's pension scheme are charged to the Statement ofFinancial Activit |
company's pension scheme are charged to the Statement ofFinancial Activit |
company's pension scheme are charged to the Statement ofFinancial Activit |
ies in the period to whic |
h they relate. |
|---|---|---|---|---|
| DONATIONS AND LEGACIES |
||||
| 31.12.20 | 31.12.19 | |||
| Gifts and donations | 225,666 | 301,574 | ||
| OTHER TRADING ACTIVITIES | ||||
| 31.12.20 | 31.12.19 | |||
| Friends' contributions | 23,409 | 23,196 | ||
| Covering and livery RPA Enterprise Scheme Shows and events Entrance fees Coffee shop sales |
73,146 10,749 13,713 10,909 |
80,917 10,604 3,935 65,169 46,110 |
||
| Miscellaneous income |
9,166 | 9,233 | ||
| Shop merchandise sales Adopt ahorse scheme |
10,980 4,307 |
28,289 6,231 |
||
| 156,379 | 273,684 | |||
| INVESTMENT INCOME | ||||
| 31.12.20 | 31.12.19 | |||
| Rents received | 558 | 558 | ||
| Deposit account interest | 472 | 798 | ||
| 1,030 | 1,356 | |||
| INCOME FROM CHARITABLE ACTIVITIES | ||||
| 31.12.20 | 31.12.19 | |||
| Activity | ||||
| Grants | Suffolk Punch Heritage Centre | 68,334 | 24,778 | |
| Grants received, included | in the above, are as follows: | |||
| 31.12.20 | 31.12.19 | |||
| Suffolk County Council Suffolk Horse Society Landfill tax grant Trustees 1961Charity |
100 15,000 3,000 |
4,120 1,230 15,000 3,000 |
||
| Country Trust AI equipment grant Clarke 4 Simspon |
3,177 500 |
1,428 | ||
| East Suffolk Council (COVID | 19)-Premises, hospitality 4, leisure | 25,000 | ||
| Carried forward | 46,777 | 24,778 |
| INCOME FROM CH | ARI | TABL | E ACTIVITIES -continued | |||
|---|---|---|---|---|---|---|
| 31.12.20 | 31.12.19 | |||||
| Brought forward Covid 19Job retention |
scheme | 46,777 21,557 |
24,778 | |||
| 68,334 | 24,778 | |||||
| CHARITABLE ACTIVITIES COSTS | ||||||
| Support | ||||||
| Direct | costs (see | |||||
| Costs | note 7) | Totals | ||||
| Suffolk Punch Heritage Centre Supporting the continuation ofthe |
365,001 | 365,001 | ||||
| Suffolk Punch | 38,417 | 38,417 | ||||
| 365,001 | 38,417 | 403,418 | ||||
| SUPPORT COSTS | ||||||
| Governance | ||||||
| costs | Totals | |||||
| Supporting the continuation |
ofthe Suffolk | |||||
| Punch | 1,607 | 36,810 | 38,417 | |||
| NET INCOME/(EXPENDITURE) | ||||||
| Net income/(expenditure) | is | stated after charging/(crediting): | ||||
| 31.12.20 | 31.12.19 | |||||
| Depreciation - owned assets (Deficit)/surplus on disposal |
offixed assets | 26,367 11,359 |
24,100 (3,825) |
|||
| TRUSTEES' REMUNERATION | AND BENEFITS |
| STAFFCOSTS | |||||
|---|---|---|---|---|---|
| 31.12.20 | 31.12.19 | ||||
| Wages and salaries | 185,090 | 180,199 | |||
| Other pension costs | 2,558 | 2,155 | |||
| 187,648 | 182,354 | ||||
| The average monthly number ofemployees |
during the year was as follows: | ||||
| 31.12.20 | 31.12.19 | ||||
| Administrative staff |
12 | 9 | |||
| No employees received |
emoluments | in excess off60,000. | |||
| COMPARATIVKS FORTHE STATEMENT OF FINANCIAL ACTIVITIES | |||||
| Unrestricted | Restricted | Total | |||
| funds | funds | funds | |||
| INCOME AND ENDOWMENTS | FROM | ||||
| Donations and legacies |
301+74 | 301,574 | |||
| Charitable activities |
|||||
| Suffolk Punch Heritage | Centre | 5,658 | 19,120 | 24,778 | |
| Other trading activities | 273,684 | 273,684 | |||
| Investment income |
1,356 | 1,356 | |||
| Total | 582,272 | 19,120 | 601,392 | ||
| EXPENDITURE ON | |||||
| Charitable activities |
|||||
| Suffolk Punch Heritage | Centre | 372,141 | 8,393 | 380,534 | |
| Supporting the continuation ofthe Suffolk |
|||||
| Punch | 22,586 | 22,586 | |||
| Total | 394,727 | 8,393 | 403,120 | ||
| NET INCOME | 187,545 | 10,727 | 198,272 | ||
| Other recognised gains/(losses) | |||||
| Gains/(losses) on revaluation offixed |
assets | (1,485) | (1,485) | ||
| Net movement in funds |
187,545 | 9,242 | 196,787 | ||
| RECONCILIATION | OF FUNDS | ||||
| Total funds brought forward |
130,711 | 1,587,952 | 1,718,663 | ||
| TOTAL FUNDS CARRIED FORWARD | 318,256 | 1,597,194 | 1,915,450 |
| INTANGIBLE FIXEDASSETS | |
|---|---|
| Single | |
| farm | |
| entitlements | |
| COST | |
| At 1 January 2020 and 31December 2020 | 10,314 |
| AMORTISATION | |
| At 1January 2020 and 31December 2020 | 10,314 |
| NKT BOOKVALUE | |
| At 31December 2020 | |
| At 31December 2019 |
| TANGIBLE FIXEDASSETS | |||
|---|---|---|---|
| Visitor | |||
| centre 8'c | |||
| Freehold | cafe | Plant and | |
| property | eqpmt | machinery | |
| COST | |||
| At 1January 2020 | 136,015 | 394,813 | |
| Additions | 45,132 | 2,679 | 22,718 |
| Disposals | (45,760) | ||
| Reclassification | 241,110 | 30,254 | (329,945) |
| At 31December 2020 | 422,257 | 32,933 | 41,826 |
| DEPRECIATION | |||
| At 1 January 2020 | 177,915 | ||
| Charge for year | 18,597 | 4,200 | |
| Eliminated on disposal |
(27,683) | ||
| Reclassification/transfer | 114,535 | 8,734 | (141,024) |
| At 31December 2020 | 114,535 | 27,331 | 13,408 |
| NET BOOKVALUE | |||
| At 31December 2020 | 307,722 | 5,602 | 28,418 |
| At 31December 2019 | 136,015 | 216,898 |
| Heritage | Motor | |||
|---|---|---|---|---|
| Livestock | artefacts | vehicles | Totals | |
| COST | ||||
| At 1January 2020 | 72,111 | 6,730 | 609,669 | |
| Additions | 16,210 | 86,739 | ||
| Disposais | (29,000) | (74,760) | ||
| Reclassiflcation | 58,581 | |||
| At 31December 2020 | 59,321 | 6,730 | 58,5&1 | 621,648 |
| DEPRECIATION | ||||
| At 1Januaty 2020 | 177,915 | |||
| Charge for year | 3,570 | 26,367 | ||
| Eliminated on disposal |
(27,683) | |||
| Reclassiflcation/transfer | 17,755 | |||
| At 31December 2020 | 21,325 | 176,599 | ||
| NETBOOKVALUE | ||||
| At 31December 2020 | 59,321 | 6,730 | 37,256 | 445,049 |
| At 31 December 2019 | 72,111 | 6,730 | 431,754 |
| HERITAGE ASSETS | |
|---|---|
| Total | |
| MARKET VALUE | |
| At 1 January 2020 and 31December 2020 | 1,187,167 |
| NET BOOKVALUE | |
| At 31 December 2020 | 1,187,167 |
| At 31December 2019 | 1,187,167 |
| 15. | STOCKS | ||||||
|---|---|---|---|---|---|---|---|
| 31.12.20 | 31.12.19 | ||||||
| Stocks | 9,661 | 8,342 | |||||
| 16. | DEBTORS: | AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
| 31.12.20 | 31.12.19 | ||||||
| Trade debtors | 11,738 | 9,329 | |||||
| Prepayments | and | accrued income | 1,144 | 1,729 | |||
| 12,882 | 11,058 | ||||||
| 17. | CREDITORS: AMOUNTS FALLING DUK WITHIN ONE YEAR | ||||||
| 31.12.20 | 31.12.19 | ||||||
| f. | |||||||
| Trade creditors | 6,618 | 7,456 | |||||
| Social security and other taxes | 3,848 | 462 | |||||
| VAT | 1,683 | 2,665 | |||||
| AE pension | 639 | 357 | |||||
| Accruals and | deferred income | 8,692 | 5,911 | ||||
| 21,480 | 16,851 | ||||||
| 18. | MOVEMENT IN FUNDS | ||||||
| Net | Transfers | ||||||
| movement | between | At | |||||
| At 1.1.20 | in funds | funds | 31.12.20 | ||||
| Unrestricted | funds | ||||||
| General fund | 318,256 | 53,833 | (10,670) | 361,419 | |||
| Restricted funds | |||||||
| Capital purchase | fund | 1,531,434 | (5,842) | 10,670 | 1,536,262 | ||
| Revaluation reserve |
65,760 | (10,707) | 55,053 | ||||
| 1,597,194 | (16,549) | 10,670 | 1,591,315 | ||||
| TOTAL FUNDS | 1,915,450 | 37,284 | 1,952,734 |
| Net movement in |
funds, included | funds, included | in the above | are as follows: | |||
|---|---|---|---|---|---|---|---|
| Incoming | Resources | Gains and | Movement | ||||
| resources | expended | losses | in funds | ||||
| Unrestricted funds |
|||||||
| General fund | 433/32 | (379,399) | 53,833 | ||||
| Restricted funds | |||||||
| Capital purchase | fund | 18,177 | (24,019) | (5,842) | |||
| Revaluation reserve |
(10,707) | (10,707) | |||||
| 18,177 | (24,019) | (10,707) | (16,549) | ||||
| TOTAL FUNDS | 451,409 | (403,418) | (10,707) | 37,284 | |||
| Comparatives for movement |
in | funds | |||||
| Net | |||||||
| movement | At | ||||||
| At 1.1.19 | in funds | 31.12.19 | |||||
| Unrestricted funds |
|||||||
| General fund | 130,711 | 187,545 | 318,256 | ||||
| Restricted funds | |||||||
| Capital purchase | fund | 1,520,707 | 10,727 | 1,531,434 | |||
| Revaluation reserve |
67,245 | (1,485) | 65,760 | ||||
| 1,587,952 | 9,242 | 1,597,194 | |||||
| TOTAL FUNDS | 1,718,663 | 196,787 | 1,915,450 |
| Incoming | Resources | Gains and | Movement | |||
|---|---|---|---|---|---|---|
| resources | expended | losses | in funds | |||
| E | ||||||
| Unrestricted | funds | |||||
| General fund | 582,272 | (394,727) | 187,545 | |||
| Restricted funds | ||||||
| Capital purchase | fund | 19,120 | (8,393) | 10,727 | ||
| Revaluation | reserve | (1,485) | (1,485) | |||
| 19,120 | (8,393) | (1,485) | 9,242 | |||
| TOTAL FUNDS | 601,392 | (403,120) | (1,485) | 196,787 |
| Net | Transfers | |||||
|---|---|---|---|---|---|---|
| movement | between | At | ||||
| At 1.1.19 | in funds | fuiids | 31.12.20 | |||
| Unrestricted | funds | |||||
| General fund | 130,711 | 241,378 | (10,670) | 361,419 | ||
| Restricted funds | ||||||
| Capital purchase | fund | 1,520,707 | 4,885 | 10,670 | 1,536,262 | |
| Revaluation | reserve | 67,245 | (12,192) | 55,053 | ||
| 1,587,952 | (7,307) | 10,670 | 1,591,315 | |||
| TOTAL FUNDS | 1,718,663 | 234,071 | 1,952,734 |
| Incoming | Resources | Gains and | Movement | |||
|---|---|---|---|---|---|---|
| resources | expended | losses | in funds | |||
| Unrestricted | funds | |||||
| General fund | 1,015,504 | (774,126) | 241,378 | |||
| Restricted funds | ||||||
| Capital purchase | fund | 37,297 | (32,412) | 4,885 | ||
| Revaluation | reserve | (12,192) | (12,192) | |||
| 37/97 | (32,412) | (12,192) | (7,307) | |||
| TOTAL FUNDS | 1,052,801 | (806,538) | (12,192) | 234,071 |
| 31.12.20 | 31.12.19 | |
|---|---|---|
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts and donations | 225,666 | 301,574 |
| Other trading activities | ||
| Friends' contributions | 23,409 | 23,196 |
| Covering and livery | 73,146 | 80,917 |
| RPA Enterprise Scheme |
10,749 | 10,604 |
| Shows and events | 3,935 | |
| Entrance fees | 13,713 | 65,169 |
| Coffee shop sales | 10,909 | 46,110 |
| Miscellaneous income |
9,166 | 9,233 |
| Shop merchandise sales |
10,980 | 28,289 |
| Adopt ahorse scheme | 4,307 | 6,231 |
| 156,379 | 273,684 | |
| Investment income |
||
| Rents received | 558 | 558 |
| Deposit account interest | 472 | 798 |
| 1,030 | 1,356 | |
| Charitable activities |
||
| Grants | 68,334 | 24,778 |
| Total incoming resources |
451,409 | 601,392 |
| EXPENDITURE | ||
| Charitable activities |
||
| Wages | 185,090 | 180,199 |
| Pensions | 2,558 | 2,155 |
| Rent and rates | 3,921 | 3,362 |
| Utilities Equipment repairs 4 maint |
9,747 16,537 |
11,880 12,437 |
| Insurance | 13,957 | 12,544 |
| Telephone and fax |
223 | 1,344 |
| Subscriptions | 200 | 492 |
| Post printing 4 stationery | 7,142 | 8,990 |
| Promotion and publicity |
7,325 | 9,135 |
| Bad debts | 5,640 | |
| Vehicle expenses | 1,292 | 2,762 |
| Volunteer travel expenses | 388 | 3,247 |
| Computer costs | 2,265 | 2,473 |
| Animal feed and straw | 28,345 | 25,473 |
| Veterinary, farrier, etc. |
25,963 | 19,846 |
| Carried forward | 310,593 | 296,339 |
| 31.12.20 | 31.12.19 | |
|---|---|---|
| Charitable activities |
||
| Brought forward Visitor centre expenses Stafftraining |
310,593 977 |
296,339 3,288 938 |
| Fundraising events expenses Garden expenses Coffee shop supplies Shop stock Miscellaneous expenses Depreciation oftangible fixed assets Loss on sale oftangible fixed assets |
222 1,900 4,694 6,122 2,765 26,369 11,359 |
1,509 4,502 18,575 17,361 14,422 24,100 (3,825) |
| 365,001 | 377,209 | |
| Support costs | ||
| Finance | ||
| Bank charges | 1,607 | 3,325 |
| Governance costs |
||
| Accountancy and legal fees |
36,810 | 22,586 |
| Total resources expended | 403,418 | 403,120 |
| Net income | 47,991 | 198,272 |