2021-03-31-accounts - Gerald Palmer Eling Trust Company

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		Page
General information
Directors' report
Independent auditors'	report
Group statement offinancial activities		12
Group balance sheet		13
Company balance sheet
Group cash flow statement
Notes to the financial statements		16

					Unrestricted	Endowment	2021	2020
					fund	fund	Total	Total
							funds	funds
				Notes			f	E
Income
Investment income				2	1,693,544		1,693,544	1,716,949
Total income					1,693,544		1,693,544	1,716,949
Expenditure
Charitable activities
Estate maintenance					844,149		844,149	953,243
Grant making					395,373		395,373	314,128
Total expenditure					1,239,522		1,239,522	1,267,371
Net (loss)/ gain on	investments					807,469	807,469	(103,091)
Net income in the	year				454,022	807,469	1,261,491	346,487
Transfer between	funds				(828,355)	828,355
Net gain on revaluation			ofproperty	6
Net movements in funds					(374,333)	1,635,824	1,261&491	346,487
Reconciliation offunds
Total funds brought		forward		13	841,195	86,301,552	87,142,747	86,796,260
Total funds carried		forward		13	466,862	87,937,376	88,404,238	87,142,747

					2021		2020
			Notes		E		E
Fixed assets
Land and buildings					83,686,380		82,997,401
Investments					4,778,736		3,971,267
Tangible assets					47,285		37,271
					88,512,401		87,005,939
Current assets
Stocks				2,190		1,343
Debtors				255,224		212,792
Cash at bank				334,128		936,469
				591,542		1,150,574
Current liabilities
Creditors; Amounts		falling due
within one year			10	(315,378)		(486,424)
Net current	assets				276,164		664,150
Total assets	less current				88,788,565		87,670,089
liabilities
Creditors: Amounts		falling due
After more than one		year			(384,327)		(527,342)
Net assets					88,404,238		87,142,747
Represented	by:
Endowment	fund		13
Revaluation	reserve			64,979,224		64,171,755
General reserve				22,958,152		22,129,797
					87,937,376		86,301,442
Unrestricted	fund				466,862		841,194
Totalfunds					88,404,238		87,142,747

					2021		2020
			Notes		E		f
Fixed assets
Land and buildings					83p686,380		82,994,401
Investments					4,778,836		3,971,367
Tangible assets					47,285		37,271
					88,512,501		87,006,039
Current assets
Stocks				2,190		1,343
Debtors				274,935		251,729
Cash at bank				179,533		756,634
				456,658		1,009,706
Current liabilities
Creditors: Amounts		falling due
within one year			10	(297,878)		(466,231)
Net current	assets				158,780		543,475
Total assets	less current
liabilities					88,671,281		87p549,514
Creditors: Amounts		falling due
after more than one		year			(384,327)		(527,342)
Net assets					88,286,954		87,022,172
Represented	by:
Endowment	fund
Revaluation	reserve			64,979,224		64,171,755
General reserve				22,958,152		22,129,797
					87,937,376		86,301,552
Unrestricted	fund				349,578		720,620
Tota I funds					88,286,954		87,022,712

						2021	2020
						Total	Total
						Funds	funds
					Notes	f	6
Cash used in operating activities					20	(1,443,779)	(1,191,087)
Cash flows from investing		activities
Interest,	dividends and rents from investments					1,693,544	1,716,949
Property	improvements					(688,979)	(497,401)
Purchase	offixed assets					(23,803)	(13,160)
Cash provided by investing		activities				980,762	1,206,388
Cash flows from financing		activities
Repayment ofloan						(139,324)	(135,685)
Increase	in cash and cash	equivalents	in the year			(602,341)	(120,384)
Cash and	cash equivalents	at the beginning		ofthe year		936,469	1,056,853
Cash and	cash equivalents	at the end	ofthe	year		334,128	936,469
Increase	in cash and cash	equivalents	in the year		21	(602,341)	(120,384)

				2021	2020
				Group	Group
				f	f
Estate income
Rent and other property			income	1,512,811	1,543,304
Income from	woodlands			33,943	21,111
				1,546,754	1,564,415
Investment	income
Dividends				142,995	143,446
interest				1,133	5,218
Income from	royalties			2,662	3,870
				146,790	152,534
Total investment income				1,693,544	1,716,949
Estate maintenance
				2021	2020
				Group	Group
				f	f
Repairs				322,784	499,115
Insurance and other		property costs		112,137	91,407
Estate maintenance		costs		69,855	61,710
Woodlands	costs			111,893	98,369
Net cost ofyard				15,780	12,171
Management	charge			47,500	47,500
Support costs (Note		5)		134,200	141,971
				844,149	953,243

	2021	2020
	Group f	Groupf
Grants to institutions	368,533	305,734
Cancelled grants		(20,000)
	368,533	285,734
Support costs (Note 5)	26,840	28,394
	395,373	314,128

Recovery in Mind	15,000	15,000
Cancer Research	5,000	10,000
Pelican Cancer Care		25,000
West Berkshire Mencap	10,000
Brendoncare	25,000
Autism Berkshire	7,000
Leckhampstead PCC	7,000
Priors Court	10,000	10,000

Current year			Estate
			expenditure	Donations	Total
			f	f	f
Office premises costs			12,438	2,488	14,926
Staffcosts			14,347	2,869	17,216
Estate office	running	costs	10,377	2,075	12,452
Legaland financial costs			87,163	17,433	104,596
Governance	costs		9,875	1,975	11,850
			134,200	26,840	161,040


Comparative	year		Estate
			expendituref	Donationsf	Total f
Office premises costs			11,990	2,399	14,389
Staff costs			11,667	2,333	14,000
Estate office	running	costs	8,992	1,798	10,790
Legal and financial costs			99,322	19,864	119,186
Governance	costs		10,000	2,000	12,000
			141,971	28,394	170,365

Land and buildings	Land and buildings
		2021	2020
		Group and	Group and
		company	company
Freehold properties
At valuation
1April 2020		82,997,401	82,500,000
Additions		688,979	497,401
Revaluation	in the year
31March 2021		83,686,380	82,997,401

Investments
					2021			2021		2020	2020
					Group f		Companyf			Group f	Companyf
Market value
1April 2020					3,971,267		3,097,367		4,074,358		4,074,458
Additions
Disposals
Net (loss)/gain	on revaluation				807,469		807,469		(103,091)		(103,091)
31March 2021					4,778,736		4,778,836		3,971,267		3,971,367
Historical cost	at end ofyear				2,508,389		2,508,489		2,508,389		2,508,489
COIF Charities	Investment		Fund		3,820,297		3,820,297		3,166,049		3,166,049
COIF Charities	Global Equity				675,808		675,808			516,206	516,206
Income Fund
COIF Charities	Property	Fund			282,480		282,480			288,861	288,861
Investment in	subsidiary							100			100
company
Unquoted investments						151		151		151	151
					4,778,736		4,778,836		3,971,267		3,971,367
All investment	assets including				investment	properties	are	held in the UK.
The following	investments		each		constituted	over 5percent		by value	ofthe portfolio		asat31March
2021:
									Market value		Percent of
											Portfolio
											f
Holding
COIF Charities	Investment		Fund						3,820,297		79,959o
COIF Charities	Global Equity			Income Fund						675,808	14,14'Yo
COIF Charities	Property	Fund								282,480	591%
										ZOZ1f	ZOZOf
Reconciliation	ofunrealised			gains and losses on investments
Unrealised gains at beginning				ofyear					1,456,790		1,559,881
Net gain/(loss)	on revaluation									807,469	(103,091)
Unrealised gains at end			ofyear						2,264,259		1,456,790

						Group and Company	Group and Company
					Vehicles	Office	Total
					plant and	Equipment
					machinery
					E
	Cost or valuation
	1April 2020				177,859	6,654	184,513
	Additions				23,803		23,803
	Disposals
	31March	2021			201,662	6,654	208,316
	Depreciation
	1April 2020				145,501	1,741	147,242
	Charge for year				12,715	983	13,696
	Disposals
	31March	2021			158,216	2,724	160,940
	Net book	value
	31March	2021			43,446	3,930	47,376
	31March	2020			32,358	4,913	37,271
9.	Debtors
				2021	2021	2020	2020
				Group	Company	Group	Company
					E	E	E
	Trade debtors			168,939	168,625	134,171	134,149
	Development		costs	43,164	43,164	43,164	43,164
	Amounts	owed by EDL			23,894		43,290
	Prepayments		and accrued	32,305	28,436	27,254	22,952
	income
	5undry debtors			10,816	10,816	8,173	8,174
				255,224	274,935	212,762	251,729

			2021	2021	2020	2020
			Group f	Companyf	Group f	Companyf
Bank loans			143,413	143,413	139,772	136,772
Trade creditors			33,156	33,156	203,734	198,666
Rents received		in advance	10,004	7,629	6,463	6,463
Tenant deposits		refundable	101,204	87,929	113,576	100,301
Accrua Is			22,642	20,792	22,638	20,788
HM Revenue	&	Customs	4,959	4,959	241	241
			315,378	297,878	486,424	466,231

		Group	Company
		2021	2020
		f	f
Bank	loans	384,327	527,342

Current year	Current year					Unrestricted	Unrestricted	Endowment	Endowment	Endowment
							Fund			Fund		Total
							E					E
Total funds	brought		forward				841,195		86,301,552		87,142,747
Income							1,693,544					1,693,544
Expenditure							(1,239,522)				(1,239,522)
(Loss)/Gain	on investments									807,469		807,469
Transfer between		funds					(828,355)			828,355
Gain on revaluation			ofproperty
Total funds	carried		forward				1,307,238		87,937,376		88,404,238
The transfer	from		the	unrestricted	fund	to the	endowment	fund	represents		the	costs of
maintenance	which		have	been capitalised,		net of	repayments	on bank		loans attached		to the
properties.

Comparative year				Unrestricted	Endowment
				Fund	Fund	Total
				E	E	E
Total funds brought		forward		1,024,702	85,771,558	86,796,260
Income				1,716,949		1,716,949
Expenditure				(1,267,371)		(1,267,371)
(Loss)/Gain on investments					(103,091)	(103,091)
Transfer between	funds			(633,085)	633,085
Gain on revaluation		of property
Total funds carried		forward		841,195	86,301,552	87,142,747
Analysis ofnet assets between			funds
Current year				Unrestricted	Endowment
				Fund	Fund	Total
				E		E
Land and buildings					83,686,380	83,686,380
Investments					4,778,736	4,778,736
Tangible fixed assets				47,285		47,285
Current assets Current liabilities				591,542 (171,965)	(143,413)	591,542 (316,378)
Long term liabilities					(384,327)	(384,327)
				466,862	87,937,376	88,404,238

Comparative year	Unrestricted		Endowment
	Fund		Fund	Total
		f	f	f
Land and buildings			82,997,401	82,997,401
Investments			3,971,267	3,971,267
Tangible fixed assets	37,271			37,271
Current assets	1,150,574			1,150,574
Current liabilities	(346,650)		(139,774)	(486,424)
Long term liabilities			(527,342)	(527,342)
	841,195		86,301,552	87,142,747
Staff costs
The group employed	3 full time and 1part-time (2020:3 full	time and 1part-time) staff		during the
year at a cost off118,422.
			2021	2020
			f	f
Wages and salaries			102,505	100,034
Social security costs			5,297	6,042
Pension contributions	(Note 16)		10,620	10,885
			118,422	116,961

			2021	2020
			f	f
Net movement in funds			1,261,509	346,468
Add back depreciation			13,698	13,069
Less interest income,	dividends	and rents from investments	(1,693,544)	(1,716,949)
Losses/(gains) on investments			(807,469)	103,091
Decrease in stock			(847)	1,440
(Increase)/decrease	in debtors		(42,480)	29
Decrease in creditors			(174,646)	61,747
			(1,443,779)	(1,191,087)

					At 1April	Cash flows	Other non	At 31March
					2020 f		cash changes f	2021 f
Cash					936,469	(602,341)		334,128
Loans	falling	due	within	one	(139,772)	139,324	(143,015)	(143,413)
year
Loans	falling	due	after	one	(527,342)		143,015	(384,327)
year
					269,355	(463,017)		(193,612)

	2021f	2020 f
Turnover	107,900	107,150
Property Costs	(41,712)	(33,966)
	66,188	73,165
Overheads	(2,271)	(5,976)
Interest payable
Profit before tax	63,917	67,208
Taxation		2,987
Profit after tax	63,917	70,175
Share capital		100
Profit and loss reserves	117,284	120,575
Capital and reserves	117,384	120,675

				Unrestricted	Endowment	Endowment	2020
				fund		fund	Total
							funds
							E
Income
Investment income					1,716,949		1,716,949
Total income				1,716,949			1,716,949
Expenditure
Charitable activities
Estate maintenance					953,243		953,243
Grant making					314,128		314,128
Total expenditure				1,267,371			1,267,371
Net (loss)/ gain on	investments					(103,091)	(103,091)
Net income in the	year				449,578	(103,091)	346,487
Transfer between	funds				(633,085)	633,085
Net gain on revaluation			ofproperty
Net movements in		funds			(183,507)	529,994	346,487
Reconciliation offunds
Total funds brought		forward		1,024,702		85,771,558	86,796,260
Total funds carried		forward			841,195	86,301,552	87,142,747