##
|||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|
##
##
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Directors|||||||DRW Harrison
(Chairman)||||
||||||||RS Broadhurst||||
||||||||A Cropley||||
||||||||JW Gardiner||||
||||||||KR McDiarmid||||
|Company|secretary||||||Dl Hill||||
|Company|registration|||number|||04738794||||
|Charity registration|||number||||1100869||||
|Registered|and principal||||office||Eling Estate Office||||
||||||||Hermitage||||
||||||||Thatcham||||
||||||||Berkshire||||
||||||||RG189UF||||
|Solicitors|||||||Blandy
Ik Blandy||||
||||||||One Fffar Street||||
||||||||Reading||||
||||||||Berkshire RG11DA||||
|Stockbrokers||and investment||||managers|CCLA Investment|Management||Ltd|
||||||||Senator House||||
||||||||85Queen Victoria|Street|||
||||||||London
EC4V 4ET||||
|Auditors|||||||Saffery Champness|LLP|||
||||||||71Queen Victoria|Street|||
||||||||London||||
||||||||EC4V4BE||||
|Bankers|||||||National
Westminster||Bank PLC||
||||||||30Market Place||||
||||||||Newbury||||
||||||||Berkshire RG14 5AG||||
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||||||Unrestricted|Endowment|2022|2021|
|---|---|---|---|---|---|---|---|---|
||||||fund|fund|Total|Total|
||||||||funds|funds|
|||||Notes|||E|E|
|Income|||||||||
|Investment|income|||2|1,786,700||1,786,700|1,693,544|
|Total income|||||1,786,700||1,786,700|1,693,544|
|Expenditure|||||||||
|Charitable|activities||||||||
|Estate maintenance|||||888,897||888,897|844,149|
|Grant making|||||312,908||312,908|395 373|
|Total expenditure|||||1,201,805||1,201,805|1,239,522|
|Net gain on|investments|||||706,660|706,660|807,469|
|Net income|in the|year|||584,895|706,660|1,291,555|1,261,491|
|Transfer between||funds||13|(1,450,776)|1,450,776|||
|Net gain on|revaluation||ofproperty|6|||||
|Net movements
in funds|||||(865,881)|2,157,436|1,291,555|1,261,491|
|Reconciliation offunds|||||||||
|Total funds|brought forward|||13|466,862|87,937,376|88,404,238|87,142,747|
|Total funds|carried|forward||13|(399,019)|90,094,812|89,695,793|88,404,238|
##
||||||2022||2021|
|---|---|---|---|---|---|---|---|
||||Notes||f||f|
|Fixed assets||||||||
|Land and buildings|||||84,991,366||82,997,401|
|Investments|||||5,485,396||4,778,736|
|Tangible assets|||||41,628||47,285|
||||||90,518,390||88,512,401|
|Current assets||||||||
|Stocks||||12,394||2,190||
|Debtors||||238,236||255,224||
|Cash at bank||||4,680||334,128||
|||||255,310||591,542||
|Current liabilities||||||||
|Creditors: Amounts||falling due||||||
|within one year|||10|(843,584)||(315,378)||
|Net current|assets||||(588,274)||276,164|
|Total assets|less current||||89,930,116||88,788,565|
|liabilities||||||||
|Creditors: Amounts||falling due||||||
|After more than one||year|||(234,321)||(384,327)|
|Net assets|||||89,695,795||88,404,238|
|Represented|by:|||||||
|Endowment|fund||13|||||
|Revaluation|reserve|||65,685,884||64,979,224||
|General reserve||||24,408,930||22,958,152||
||||||90,094,814||87,937,376|
|Unrestricted|fund||13||(399,019)||466,862|
|Total funds|||||86,695,795||88,404,238|
##
##
||||||2022||2021|
|---|---|---|---|---|---|---|---|
||||Notes||E||E|
|Fixed assets||||||||
|Land and buildings|||||84,991,366||83,686,380|
|Investments|||||5,485,496||4,778,836|
|Tangible assets|||||41,628||47,285|
||||||90,518,490||88,512,501|
|Current assets||||||||
|Stocks||||12,394||2,190||
|Debtors||||228,039||274,935||
|Cash at bank||||858||179,533||
|||||241,291||456,658||
|Current
liabilities||||||||
|Creditors: Amounts||falling due||||||
|within one year|||10|(961,914)||(297,878)||
|Net current|assets||||(720,623)||158,780|
|Total assets|less current|||||||
|liabilities|||||89,797,867||88,671,281|
|Creditors: Amounts||falling due||||||
|after more than one||year|||(234,321)||(384,327)|
|Net assets|||||89,563,546||88,286,954|
|Represented|by:|||||||
|Endowment|fund|||||||
|Revaluation|reserve|||65,685,884||64,979,224||
|General reserve||||24,408,930||22,958,152||
||||||90,094,814||87,937,376|
|Unrestricted|fund||||(531,268)||349,578|
|Total funds|||||89,563,546||88,286,954|
##
|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|||||||Total|Total|
|||||||Funds|funds|
||||||Notes|6|6|
|Cash used in operating|activities||||20|(659,997)|(1,443,779)|
|Cash flows from investing||activities||||||
|Interest, dividends
and|rents from investments|||||1,786,700|1,693,544|
|Property
improvements||||||(1,301,986)|(688,979)|
|Purchase offixed assets||||||(5,375)|(23,803)|
|Cash provided
by investing||activities||||476,339|980,762|
|Cash flows from financing||activities||||||
|Repayment
of loan||||||(145,790)|(139,324)|
|(Decrease)/increase
in|cash and cash equivalents|||in the year||(329,448)|(602,341)|
|Cash and cash equivalents||at the beginning|ofthe|year||334,128|936,469|
|Cash and cash equivalents||at the end ofthe|year|||4,680|334,128|
|(Decrease)/increase
in|cash and cash equivalents|||in the year|21|(329,448)|(602,341)|
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|||||2022|2021|
|---|---|---|---|---|---|
|||||Group
f|Group
f|
|Estate income||||||
|Rent and other property|||income|1,538,964|1,512,811|
|Income from woodlands||||96,763|33,943|
|||||1,635,727|1,546,754|
|Investment
income||||||
|Dividends||||146,591|142,995|
|Interest||||25|1,133|
|Income from royalties||||4,357|2,662|
|||||150,973|146,790|
|Total investment|income|||1,786,700|1,693,544|
|Estate maintenance||||||
|||||2022|2021|
|||||Group
f|Group
f|
|Repairs||||291,309|322,784|
|Insurance
and other||property costs||414,880|112,137|
|Estate maintenance||costs||60,099|69,855|
|Woodlands
costs||||181,657|111,893|
|Net cost ofyard||||14,753|15,780|
|Management
charge||||60,000|47,500|
|Support costs (Note||5)||139,199|134,200|
|||||888,897|844,149|
##
##
|||2022|2021|
|---|---|---|---|
|||Group|Group|
|||E||
|Grants|to institutions|285,068|368,533|
|||285,068|368,533|
|Support|costs (Note 5)|27,840|26,840|
|||312,908|395,373|
|Autism
Berkshire||||7,000|7,000|
|---|---|---|---|---|---|
|Autistica||||5,000||
|Berkshire Vision||||5,000||
|Brendoncare||||30,000|25,000|
|Cancer Research|||||5,000|
|Disabled Sailors Association||||5,000||
|Helen & Douglas House||||5,000||
|IPSEA||||5,000||
|Leckhampstead
PCC|||||7,000|
|Longcot Churchwardens||Account||5,000||
|Newlife||||5,000||
|Priors Court|||||10,000|
|Rainbow Trust||||5,000||
|Recovery
In Mind||||15,000|15,000|
|Royal Agricultural|Benevolent||Institution|5,000||
|Sebastion's
Action|Trust|||5,000||
|Smart Works Reading||||5,000||
|St Barnabas Church, Peasmore||||10,000||
|Sue Ryder||||5,000||
|Support Through
Court||||5,000||
|Swings &Smiles||||5,000||
|Thames Valley Air|Ambulance|||5,000||
|The Porch Limited||||5,000||
|The Royal Marsden|Cancer Charity|||10,000||
|Treloar's||||5,000||
|Ufton Court Education Trust||||5,000||
|West Berkshire Mencap|||||10,000|
##
##
|Current year|||Estate|||
|---|---|---|---|---|---|
||||expenditure
f|Donations
f|Totalf|
|Office premises costs|||11,469|2,294|13,763|
|Staff costs|||21,636|4,327|25,963|
|Estate office|running|costs|12,282|2,456|14,738|
|Legal and financial costs|||82,896|16,579|99,475|
|Governance|costs||10,917|2,183|13,100|
||||139,199|27,840|167,039|
|Comparative|year||Estate|Estate|||
|---|---|---|---|---|---|---|
||||expenditure|f|Donationsf|Totalf|
|Office premises costs|||12,438||2,488|14,926|
|Staff costs|||14,347||2,869|17,216|
|Estate office|running|costs|10,377||2,075|12,452|
|Legal and financial costs|||87,163||17,433|104,596|
|Governance|costs||9,875||1,975|11,850|
||||134,200||26,840|161,040|
##
|5.|Land and buildings|Land and buildings|||
|---|---|---|---|---|
||||2022|2021|
||||Group and|Group and|
||||company|company|
||Freehold properties||||
||At valuation||||
||1April 2021||83,686,380|82,997,401|
||Additions||1,304,986|688,979|
||Revaluation|in the year|||
||31March 2022||84,991,366|83,686,380|
|Investments||||||||
|---|---|---|---|---|---|---|---|
|||||2022|2022|2021|2021|
|||||Group|Company|Group|Company|
|||||||E|E|
|Market value||||||||
|1April 2021||||4,778,736|3,904,836|3,971,267|3,097,367|
|Additions||||||||
|Disposals||||||||
|Net (loss)/gain|on revaluation|||706,660|706,660|807,469|807,469|
|31March 2022||||5,485,396|4,611,496|4,778,736|3,904,836|
|Historical cost|at end of||year|2,508,389|2,508,489|2,508,389|2,508,489|
|COIF Charities Investment|||Fund|4,382,908|4,382,908|3,820,297|3,820,297|
|COIF Charities Global Equity||||785,995|785,995|675,808|675,808|
|Income Fund||||||||
|COIF Charities Property||Fund||316,342|316,342|282,480|282,480|
|Investment
in subsidiary|||||100||100|
|Unquoted
investments||||151|151|151|151|
|||||5,485,396|5,485,496|4,778,736|4,778,836|
##
|The following
2022:|investments
ea|ch constituted
over 5per cent by va|lue ofthe portfolio a|sat31March|
|---|---|---|---|---|
||||Market value|Percent of|
|||||Portfolio|
||||E|E|
|Holding|||||
|COIF Charities|investment
Fund||4,382,908|79.909o|
|COIF Charities|Global Equity|Income Fund|785,995|14.339o|
|COIF Charities|Property
Fund||316,342|5.779o|
||||2021|2020|
||||E|E|
|Reconciliation|ofunrealised|gains and losses on investments|||
|Unrealised
gains at beginning||ofyear|1,456,790|1,559,881|
|Net gain/(loss)|on revaluation||706,660|(103,091)|
|Unrealised
gains at end ofyear|||2,163,450|1,456,790|
##
##
|||Group and Company||
|---|---|---|---|
||Vehicles|Office|Total|
||plant and|Equipment||
||machinery|||
||E|||
|Cost or valuation||||
|1April 2021|205,451|6,654|212,105|
|Additions|5,375||5,375|
|Disposals||||
|31March 2022|210,826|6,654|217,480|
|Depreciation||||
|1April 2021|162,097|2,723|164,820|
|Charge for year|10,246|786|11,032|
|Disposals||||
|31March 2022|172,343|3,145|175,852|
|Net book value||||
|31March 2022|38,483|3,145|41,628|
|31March 2021|43,354|3,931|47,285|
##
|8.|Debtors|||||||
|---|---|---|---|---|---|---|---|
|||||2022|2022|2021|2021|
|||||Group
f|Company
f|Groupf|Companyf|
||Trade debtors|||143,824|147,627|168,939|168,625|
||Development
costs|||57,974|57,974|43,164|43,164|
||Amounts
owed|by|EDL||||23,894|
||Prepayments
and accrued|||31,460|27,726|32,305|28,436|
||income|||||||
||Sundry debtors|||4,978|4,978|10,816|10,816|
|||||238,236|228,039|255,224|274,935|
||Creditors: amounts||falling due within one year|||||
|||||2022|2022|2021|2021|
|||||Group
f|Company
f|Group
f|Companyf|
||Bank loans (note 11)|||147,627|147,627|143,413|143,413|
||Bank overdraft|||313,595|313,595|||
||Trade creditors|||212,579|211,259|33,156|33,156|
||Amounts
owed|to EDL|||137,067|||
||Rents received|in advance||14,764|12,064|10,004|7,629|
||Tenant deposits|refundable||101,585|88,933|101,204|87,929|
||Accrua Is|||45,099|43,034|22,642|20,792|
||HM Revenue
fk|Customs||312|312|4,959|4,959|
||Sundry creditors|||8,023|8,023|||
|||||835,561|961,914|315,378|297,878|
##
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|Current year|Current year||||||Unrestricted|Unrestricted|Endowment|Endowment|||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||Fund||Fund||Total|
|||||||||f||f||f|
|Total funds|brought||forward|||||466,862||87,937,376|88,404,238||
|Income||||||||1,786,700||||1,786,700|
|Expenditure||||||||(1,201,805)|||(1,201,805)||
|(Loss)/Gain|on investments|||||||||706,660||706,660|
|Transfer between||funds||||||(1,450,776)||1,450,776|||
|Total funds|carried||forward|||||(399,019)||90,094,814|89,695,793||
|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||||
|||||||||Fundf||Fund
f||Total
f|
|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|||
|Total funds|carried||forward|||||466,862|87,937,376||88,404,238||
##
##
|Current year|Unrestricted|Endowment||
|---|---|---|---|
||Fund|Fund|Total|
||f|f|f|
|Land and buildings||84,991,366|84,991,366|
|Investments||5,485,396|5,485,396|
|Tangible fixed assets|41,628||41,628|
|Current assets|255,310||255,310|
|Current
liabilities|(695,957)|(147,629)|(843,586)|
|Long term liabilities||(234,321)|(234,321)|
||(399,019)|90,094,812|89,695,793|
|Comparative
year|Unrestricted|Endowment||
||Fundf|Fundf|Totalf|
|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|
##
|year at a cost off126,|156.|||
|---|---|---|---|
|||2022|2021|
|||f|f|
|Wages and salaries||109,395|102,505|
|Social security costs||5,740|5,297|
|Pension contributions|(Note 16)|11,021|10,620|
|||126,156|118,422|
##
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|||||2022
g|2021f|
|---|---|---|---|---|---|
|Net movement
in funds||||1,291,555|1,261,509|
|Add back depreciation||||11,032|13,698|
|Less interest income,|dividends||and rents from investments|(1,786,700)|(1,693,544)|
|Losses/(gains)
on investments||||(706,660)|(807,469)|
|(Increase)
in stock||||(10,204)|(847)|
|Decrease/(Increase)|in|debtors||16,988|(42,480)|
|Increase/(decrease)in||creditors||523,992|(174,646)|
|||||(659,997)|(1,443,779)|
##
##
|||At 1April|Cash flows|Other non|At 31March|
|---|---|---|---|---|---|
|||2021
6||cash changes
f|2022
6|
|Cash||334,128|(329,448)||4,680|
|Overdraft|||(313,595)||(313,595)|
|Loans falling|due within one|(143,413)|145,792|(150,006)|(147,627)|
|year||||||
|Loans falling|due after one|(384,327)||150,006|(234,321)|
|year||||||
|||(193,612)|(497,251)||(690,863)|
##
##
##
||2022|2021|
|---|---|---|
||E||
|Turnover|105,325|107,900|
|Property Costs|(23,895)|(41,712)|
||81,430|66,188|
|Overheads|(2,548)|(2,271)|
|Profit before tax|78,882|63,917|
|Taxation|||
|Profit after tax|78,882|63,917|
|Share capital|100|100|
|Profit and loss reserves|132,249|117,284|
|Capital and reserves|132,349|117,384|
##
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##
||||Unrestricted|Endowment|Endowment|2021||
|---|---|---|---|---|---|---|---|
||||fund||fund|Total||
|||||||funds||
|||||||E||
|Income||||||||
|Investment
income|||1,693,544|||1,693,544||
|Total income|||1,693,544|||1,693,544||
|Expenditure||||||||
|Charitable
activities||||||||
|Estate maintenance||||844,149|||844,149|
|Grant making||||395,373|||395373|
|Total expenditure|||1,239,522|||1,239,522||
|Net (loss)/ gain on investments|||||807,469||807,469|
|Net income in the year||||454,022|807,469|1,261,491||
|Transfer between
funds||||(828,355)|823,355|||
|Net gain on revaluation||ofproperty||||||
|Net movements
in funds||||(374,333)|1,635,824|1,261,491||
|Reconciliation offunds||||||||
|Total funds brought|forward|||841,195|86,301,552|87,142,747||
|Total funds carried|forward|||466,862|87,937,376|88,404,238||