|||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|
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|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|
##
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|||||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|
##
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||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|
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|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|
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|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|
##
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##
|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||||
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|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|