## ## |||Page|| |---|---|---|---| |Report ofthe Trustees|I|to|5| |Report ofthe Independent
Auditors|6|to|8| |Statement ofFinancial Activities|||| |Balance Sheet||10|| |Cash Flow Statement|||| |Notes to the Cash Flow Statement||12|| |Notes to the Financial Statements|13|to|25| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||FORTHE Y|EAR|ENDED 31DE|CEMBER2020||| |---|---|---|---|---|---|---|---| |||||||2020|2019| |||||Unrestricted|Restricted|Total|Total| |||||funds|funds|funds|funds| ||||Notes|||f.|6| |INCOME AND ENDOWMENTS FROM|||||||| |Donations
and legacies|||3|92,435||92,435|117,922| |Charitable
activities|||||||| |Income &om charitable||activities||18,587||18,587|22,608| |Investment
income|||4|236,189|99,840|336,029|298,771| |Other income|||6|8 822||8,822|34563| |Total||||356,033|99,840|455,873|473,864| |EXPENDITURE ON|||||||| |Raising funds||||36,769|12,773|49,542|65,658| |Charitable
activities|||||||| |Grant funding ofactivities||||30,200|49,390|79,590|42,957| |Support costs||||42,273||42,273|33,526| |Activities undertaken|directly|||422,791||422,791|502,862| |Governance
costs||||6,219||6,219|16,151| |Total||||538,252|62,163|600,415|661,154| |Net gains/(losses)
on|investments|||~303082|~3732533|~474,333|3557261| |NKT INCOME/(EXPENDITURE)||||(485,301)|(133,574)|(618,875)|3,369,971| |RECONCILIATION||OF FUNDS|||||| |Total funds brought|forward|||10,152,463|3,563,849|13,716,312|10,346,341| |TOTAL FUNDS CARRIED FORWARD||||9,667,162|3,430,275|13,097,437|13,716,312| ## ## ||BALANCE SHEET
31DECEMBER2020||| |---|---|---|---| |||2020|2019| ||Notes||| |FIXEDASSETS|||| |Tangible assets|14|1,416,308|1,329,294| |Investments|||| |Investments|15|8,356,455|8,448,194| |Investment
pmperty|16|3.025.DD2|3 025,0D2| |||12,797,765|12,802,490| |CURRENT ASSETS|||| |Debtors|17|22,614|10,371| |Cash at bank and in hand||330212|994,024| |||352,826|1,004,395| |CREDITORS|||| |Amounts
falling due within one year|18|(49,154)|(84,573)| |NET CURRENT ASSETS||303 672|919,822| |TOTAL ASSETSLESSCURRENT|||| |LIABILITIES||13,101,437|13,722,312| |PENSION LIABILITY|22|(4,000)|(6,000)| |NET ASSETS||13 097437|13716312| |FUNDS|21||| |Unrestricted
funds||9,667,162|10,152,463| |Restricted
funds||3 430275|3,563,849| |TOTAL FIJNDS||13 097437|13716312| ## |||||2020|2019| |---|---|---|---|---|---| ||||Notes||| |Cash flows from operating|activities||||| |Cash generated
from operations||||~487,839)|~429,380)| |Net cash used in operating|activities|||~487,839)|~429,380)| |Cash flows from investing|activities||||| |Purchase oftangible
fixed assets||||(170,657)|(325,994)| |Purchase offixed asset investments||||(5,175,481)|(2,844,475)| |Saleoftangible fixed assets||||20,400|| |Sale offixed asset investments||||4,884,745|2,845,716| |Saleofinvestment
property|||||954,523| |Dividend
income||||275,326|294,361| |Interest received||||356|4,410| |Net cash (used in)/provided|by investing||activities|165,311|928,541| |Cash ilows from financing|activities||||| |New loans in year|||||294,735| |Loan repayments
in year
Capital repayments
in year||||~16.662|(17,913)| |Net cash (used in)/provided|by financing||activities|~10,662)|276,822| |Change in cash and cash equivalents||in|||| |the reporting period||||(663,812)|775,983| |Cash and cash equivalents|at the||||| |beginning ofthe reporting|period|||994,024|218,041| |Cash and cash equivalents
the reporting
period|at the end|of||~330212|~994 024| ## ## ## ## |OPERATING ACTIVITI|ES||||| |---|---|---|---|---|---| |||||2020|2019| ||||||g| |Net (expenditure)/income|for the reporting|period (as per the|||| |Statement ofFinancial Activities)||||(618,875)|3,369,971| |Adjustments
for:|||||| |Depreciation
charges||||67,091|60,475| |Losses/(gain)
on investments
Profit on disposal offixed assets||||474,333
(3,845)|(3,557,261)
(3,843)| |Interest received||||(356)|(4,410)| |Dividends
and rents received||||(275,326)|(294,361)| |Movement
in SSM(SA) investments||||(91,861)|(14,056)| |Increase in debtors||||(12,243)|(6,252)| |(Decrease)/increase
in creditors
Difference between pension charge and cash||contributions||(24,757)
~2,000)|33,357
~13,000)| |Net cash used in operations||||487,839|429,380| |ANALYSIS OF CHANGES IN NET FUNDS|||||| ||||At 1.1.20|Cash flow|At 31.12.20| ||||||6| |Net cash|||||| |Cash at bank and in hand|||994,024|~663,812|330,212| ||||~994024|~663,812|330,212| |Debt|||||| |Finance leases|||10662|10,662|| ||||10662|10,662|| |Total|||983,362|~653,150|~330212| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |7.|CHARITABLE AC|T|IVITIES CO|STS|||| |---|---|---|---|---|---|---|---| |||||Direct|Grant|Support|| |||||Costs (see|funding of|costs (see|| |||||note 8)|activities|note 9)|Totals| |||||||8|| ||Grant funding ofactivities||||79,590||79,590| ||Support costs|||||42,273|42,273| ||Activities
undertaken|directly||422,791|||422,791| ||Governance
costs|||||6,219|6,219| |||||422,791|79,590|~48 492|550,873| |8.|DIRECT COSTSOF||CHARITABLE ACTIVITIES||||| ||||||||2019| |||||||2020|| ||Staffcosts|||||135,211|163,090| ||Depreciation|||||67,091|60,475| ||Community
costs|||||210,491|266,975| ||Travel and transport|||||1,238|2,411| ||Furniture
and equipment|||||1,254|| ||Chapter||||||988| ||Publicity|||||346|2,782| ||Administration
Profit on disposal offixed assets|||||11,005
~3845)|9,984
~3,843)| |||||||422,791|502,862| |9.|SUPPORT COSTS||||||| ||||||||2019| |||||||2020|| ||Trustees' expenses|||||2,067|5,460| ||Bank charges|||||745|1,727| ||Auditor's
remuneration|||||6,219|16,151| ||Legal and professional|||||34,276|24,870| ||Accountancy
and payroll|||||5,185|| ||Interest on finance lease||||||1,469| |||||||48492|~49677| |10.|NET INCOME/(EXPENDITURE)||||||| ||Net income/(expenditure)||is stated after charging/(crediting):||||| |||||||2020|2019| ||||||||6| ||Depreciation - owned assets|||||67,088|60,476| ||Surplus on disposal offixed assets|||||~3,845)|~3,843)| ## ## ## ## ||||2020|2019| |---|---|---|---|---| ||||6|| |Wages and salaries|||124,887|158,401| |Social security
Contributions|costs
to defined contribution|pension schemes|2,490
~7834|5,489
~800)| ||||135,211|~163 090| ||The average monthly
n|umber ofem|ployees
during the year was as|follows:||| |---|---|---|---|---|---|---| ||||||2020|2019| ||Employees||||7|7| ||No employees
received|emoluments|in excess of860,000.|||| |13.|COMPARATIVKS FORTHE STATEMENT OFFINANCIAL|||ACTIVITIES||| |||||Unrestricted|Restricted|Total| |||||funds|funds|funds| ||||||6|| ||INCOME AND ENDOWMENTS||FROM|||| ||Donations
and legacies|||117,922||117,922| ||Charitable
activities|||||| ||Income from charitable|activities||22,608||22,608| ||Investment
income|||193,909|104,862|298,771| ||Other income|||34,563||34343| ||Total|||369,002|104,862|473,864| ||EXPENDITURE ON|||||| ||Raising funds|||49,028|16,630|65,658| ||Charitable
activities|||||| ||Grant funding ofactivities|||42,957||42,957| ## ## |||NOTES TOTHE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31DECEMBER 2020|NOTES TOTHE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31DECEMBER 2020|NOTES TOTHE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31DECEMBER 2020|NOTES TOTHE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31DECEMBER 2020|NOTES TOTHE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31DECEMBER 2020|| |---|---|---|---|---|---|---|---| |13.|COMPARATIVES|FORTHE STATEMENT OFFINANCIAL ACTIVITIES - continued|||||| ||||||Unrestricted|Restricted|Total| ||||||funds|funds|funds| ||Support costs||||33,526||33,526| ||Activities
undertaken|directly|||467,405|35,457|502,862| ||Governance
costs||||16,151||16,151| ||Total||||609,067|52,087|661,154| ||Net gains on investments||||3,148,228|409033|3557261| ||NET INCOME||||2,908,163|461,808|3,369,971| ||RECONCILIATION|OF FUNDS|||||| ||Total funds brought|forward|||7,244,300|3,102,041|10,346,341| ||TOTAL FUNDS CARRIED||FORWARD||10152463|3 563 849|13716,312| |14.|TANGIBLE FIXED|ASSETS|||||| ||||Freehold|Building|Equipment|Motor|| ||||property|improvements|86furnishings|vehicles|Totals| ||||6||f,||| ||COST||||||| ||At 1 January 2020||1,131,173|344,787|17,184|45,378|1,538,522| ||Additions
Disposals|||166,618|4,039|~45.378|170,657
~45,378)| ||At 31December 2020||~1131,173|511,405|21,223||1,663,801| ||DEPRECIATION||||||| ||At 1 January 2020||157,634|26,740|1,461|23,393|209,228| ||Charge for year
Eliminated
on disposal||20,356|37,784|3,518|5,430
~20,823|67,088
~28.823| ||At 31December 2020||177,990|64,524|4,979||247,493| ||NET BOOKVALUE||||||| ||At 31IJecember 2020||~953 183|~446 881|16,244||~1416308| ||At 31December 2019||~973539|~318047|15,723|21,985|~1329294| ## ## ## |||Listed| |---|---|---| |||investments| |MARKET VALUE||| |At 1 January 2020||8,448,194| |Additions||5,175,481| |Disposals||(4,256,921)| |Revaluations||(1,102,160)| |Movement
in amounts|held for SSM(SA)|91,$61| |At 31December 2020||8,356,455| |NKT BOOKVALUE||| |At 31December 2020||~8356455| |At 31December 2019||~8448 194| ## |INVESTMENT PROPERTY|| |---|---| |FAIR VALUE|| |At 1 January 2020|| |and 31December 2020|3,025,002| |NET BOOKVALUE|| |At 31December 2020|3,025,002| |At 31December 2019|3,025,002| ## |||2020|2019| |---|---|---|---| |||g|| |Trade debtors||13,500|4,109| |Other debtors|||100| |Prepayments|and accrued income|9,114|6,162| |||~22 614|~10371| ## ## ## ## ## ## ## ## ||||Incoming|Resources|Gains and|Movement| |---|---|---|---|---|---|---| ||||resources|expended|losses|in funds| ||||6|8|8|| |Unrestricted|funds|||||| |General fund|||356,033|(538,252)|(303,082)|(485,301)| |Restricted
funds||||||| |Kelham College fund|||99,840|(62,163)|(171,251)|(133,574)| |TOTAL FUNDS|||455,873|~600,415)|~474,333|~618,875)| |Comparatives|for movement|in funds||||| |Compar|atives|for movement
in funds|||| |---|---|---|---|---|---| |||||Net|| |||||movement|At| ||||At 1.1.19|in funds|31.12.19| |||||8|8| |Unrestricted||funds|||| |General|fund||3,244,300|2,908,163|6,152,463| |Care ofthe elderly|||4 DOII DDD||4,000,000| ||||7,244,300|2,908,163|10,152,463| |Restricted
funds|||||| |Kelham|College fund||3,079,962|461,808|3,541,770| |Durham|fund||22,079||22 079| ||||3 1021341|461 808|3,363,849| |TOTAL|FUNDS||10346.341|3369971|13,716,312| ||Incoming|Resources|Gains and|Movement| |---|---|---|---|---| ||resources|expended|losses|in funds| ||8|||| |Unrestricted
funds||||| |General fund|369,002|(609,067)|3,148,228|2,908,163| |Restricted funds||||| |Kelham College fund|104,862|(52,087)|409,033|461,808| |TOTAL FUNDS|~473 864|~661,154)|~3557261|3,369,971| ## ## |||||Net|Transfers|| |---|---|---|---|---|---|---| |||||movement|between|At| ||||At 1.1.19|in funds|funds|31.12.20| |||||g|6|| |Unrestricted||funds||||| |General fund
Care ofthe elderly|||3,244,300
4000000|2,422,862|2,000,000
~2000000)|7,667,162
2IIOIIOOO| ||||7,244,300|2,422,862||9,667,162| |Restricted funds||||||| |Kelham|College fund||3,079,962|328,234||3,408,196| |Durham|fund||22,079|||22,079| ||||3 102 041|328234||3 430275| |TOTAL|FUNDS||10,346,341|2,751,096||33007437| ||Incoming|Resources|Gains and|Movement| |---|---|---|---|---| ||resources|expended|losses|in funds| |Unrestricted
funds||||| |General fund|725,035|(1,147,319)|2,845,146|2,422,862| |Restricted funds||||| |Kelham College fund|204,702|(114,250)|237,782|328,234| |TOTAL FUNDS|929,737|(1,261,569)|3,082,928|2~751 096| ## ## ## ## ## ## ## ## ## ## |||December 2020|December 2019|December 2018| |---|---|---|---|---| |Discount rate||0.2'/o|1.1'/o pa|2.1'/o pa| |Price inflation||3.1'/o|2.8'/o pa|3.19/8 pa| |Increase to total pensionable|payroll|1.6'/o|1.3'/o pa|1.6'/o pa| ## ## ||||||||||||2020|2019| |---|---|---|---|---|---|---|---|---|---|---|---|---| |Financial|assets||||||||||6|| |Financial|assets|measured|at|fair|value|through|income|and|expenditure|11|381 457|11,473,196| |||||||||||11|381 457|1,473,196| ##