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||||Page|
|---|---|---|---|
|Reference and administrative||details ofthe Charity, its Trustees and advisers|1-2|
|Trustees' report|||3-7|
|Independent|auditors'
report|on the financial statements|8-10|
|Consolidated|statement offinancial activities|||
|Consolidated|balance sheet||12-13|
|Charity balance sheet|||14|
|Consolidated|statement ofcash flows|||
|Notes to the|financial statements||16-36|
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|FOR TH|E PERI|OD ENDED 31 DE|CEMBER2020|||
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
|||funds|funds|funds|funds|
||Note|2020
6|2020
6|2020
f|2020
6|
|Income from:||||||
|Charitable
activities:||||||
|Subsidiary
charitable
activities||1,569,436||1,569,436|1,803,419|
|Tax credit in subsidiary||86,831||86,831|50,242|
|Capital grant||2,907||2,907|1,860|
|Other charitable
activities|||||29,987|
|Other trading
activities||63,562|51,691|115,253|/44, 853|
|Investments||131,514||131,514|142,015|
|Total income||1,854,250|51,691|1,905,941|2,172,376|
|Expenditure
on:||||||
|Charitable
activities:||||||
|Farm||31,886||31,886|63,517|
|Education/Agronomy||13,485||13,485|24,721|
|Science||19,432||19,432|49,867|
|Subsidiary
charitable
activities||1,058,664||1,058,664|1,639,545|
|General
running
costs||159,437|51,691|211,128|160,953|
|Other charitable
activities||3,052||3,052||
|Total expenditure||1,285,956|51,691|1,337,647|1,938,613|
|||568,294||568,294|233,763|
|Net income before taxation||||||
|Subsidiary tax on profit|12|(97,271)||(97,271)|(29,987)|
|Net movement
in funds before other||||||
|recognised
gains/(losses)||471,023||471,023|203,776|
|Other recognised
gains/(losses):||||||
|Deferred tax on revaluation|||||(17,078)|
|Net movement
in funds||471,023||471,023|185,698|
|Reconciliation
offunds:||||||
|Total funds brought
forward||2,417,919|903|2,418,822|2,232,124|
|Net movement
in funds||471,023||471,023|186,698|
|Total funds carried forward||2,888,942|903|2,889,845|2,4f8,822|
##
##
|||A|S AT 31 D|ECEMBER 202|0|||
|---|---|---|---|---|---|---|---|
||||||31|||
||||||December||31March|
||||||2020||2020|
||||Note||6|||
|Fixed assets||||||||
|Tangible assets|||13||3,142,251||3,152,164|
|Investments|||14||4,560||100|
||||||3,146,811||3,152,264|
|Current assets||||||||
|Stocks|||15|61,457||74,160||
|Debtors|||16|725,390||485,938||
|Cash at bank and|in hand|||300,238||82,521||
|||||1,087,085||642,619||
|Creditors: amounts|falling due within one|||||||
|year|||17|(466,135)||(427,477)||
|Net current assets|||||620,950||215,142|
|Total assets less|current liabilities||||3,767,761||3,367,406|
|Creditors: amounts|falling due after more|||||||
|than one year|||18||(672,383)||(745,044)|
|Provisions
for liabilities|||||(205,533)||(203,540)|
|Net assets excluding||pension asset|||2,889,845||2,418,822|
|Total net assets|||||2,889,845||2,418,822|
|Charity funds||||||||
|Restricted funds|||20||903||903|
|Unrestricted
funds||||||||
|General funds|||20|1,284,736||813,713||
|Revaluation
reserve||||1,604,206||1,604,206||
|Total unrestricted|funds||20||2,888,942||2,417,919|
|Total funds|||||2,889,845||2,418,822|
##
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##
||FOR TH|E P|ERIOD ENDED 31 DECEMBER 2|020||
|---|---|---|---|---|---|
|||||2020f|2020|
|Cash flows from operating|activities|||||
|Net cash used
in operating|activities|||413,772|147,646|
|Cash flows from investing|activities|||||
|Dividends,
interests and rents from investments||||(4,460)||
|Proceeds from the sale oftangible fixed||assets|||11,714|
|Purchase oftangible fixed assets||||(53,818)|(140,471)|
|Interest paid||||35,367|53,745|
|Net cash used in investing|activities|||(22,911)|(75,012)|
|Cash flows from financing|activities|||||
|Repayments
of borrowing||||(102,947)|(139,266)|
|Hire purchase
payments
in|the year|||(7,103)|(7,685)|
|Hire purchase
advances
in|the year||||8,033|
|Net cash used in financing|activities|||(110,050)|(138,918)|
|Change
in cash and cash|equivalents|in|the period|280,811|(66,284)|
|Cash and cash equivalents|at the beginning||ofthe period|19,427|85,711|
|Cash and cash equivalents|at the end of||the period|300,238|19,427|
|The notes on pages 16to 36form part ofthese financial statements||||||
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##
||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
||||2020
6|2020f|2020|2020|
|Sales|contract|income|63,562|51,691|115,253|144,853|
|Total|2020||49,006|95,847|144,853||
##
||Unrestricted|Total|Total|
|---|---|---|---|
||funds|funds|funds|
||2020|2020|2020|
||6||f:|
|Rents received|96,068|96,068|113,702|
|Sundry income|35,446|35,446|28,313|
||131,514|131,514|142,015|
|Total 2020|142,015|142,0'l5||
##
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##
##
||||||Unrestdcted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|---|
||||||funds|funds|funds|funds|
||||||2020|2020|2020|2020|
||||||6|6|6|t'|
|Farm|||||31,886||31,886|63,517|
|Education IAgronomy|||||13,485||13,485|24,721|
|Science|||||19,432||19,432|49,667|
|Subsidiary||charitable||activities|1,174,736||1,174,736|1,639,545|
|General|running||costs||46,417|51,691|98,108|160,963|
||||||1,285,956|51,691|1,337,647|1,938,613|
|Total 2020|||||1,842,766|95,847|1,938,613||
##
##
||||||Activities||||
|---|---|---|---|---|---|---|---|---|
||||||undertaken|Support|Total|Total|
||||||directly|costs|funds|funds|
||||||2020f|2020|2020
8|2020
t'|
|Farm|||||31,886||31,886|63,517|
|Education IAgronomy|||||13,485||13,485|24,721|
|Science|||||19,432||19,432|49,867|
|Subsidiary||charitable||activities||1,174,736|1,174,736|1,639,545|
|General|running||costs|||98,108|98,108|160,963|
||||||64,803|1,272,844|1,337,647|1,938,613|
|Total 2020|||||138,105|1,800,508|1,938,613||
##
##
##
##
|||Education
I||Total|Total|
|---|---|---|---|---|---|
||Farm|Agronomy|Science|funds|funds|
||2020
6|2020
6|2020
6|2020
6|2020f|
|Staff costs|30,789|13,485|10,939|55,213|116,580|
|Direct costs|1,097||8,493|9,590|19,525|
||31,886|13,485|19,432|64,803|138,105|
|Total 2020|63,517|24,721|49,867|138,105||
##
##
||||Subsidiary|General|||
|---|---|---|---|---|---|---|
||||charitable
activities|r'Uno log
costs|Total
funds|Total
funds|
||||2020
6|2020f|2020
6|2020f|
|Staff costs|||561,605|5,053|566,658|778,478|
|Depreciation|||57,245||57,245|73,026|
|Rates and water||||1,496|1,496|3,103|
|Light and heat||||10,795|10,795|23,082|
|Telephone||||897|897|2,193|
|Post and stationery||||554|554|'l,413|
|Advertising||||||954|
|Sundries||||(1,324)|(1,324)|5,691|
|Direct costs|||513,972|6,421|520,393|762,795|
|Repairs and renewals||||5,947|5,947|12,135|
|Travelling
and motor expenses||||2,299|2,299|7,297|
|Subcontractors||||34,907|34,907|33,227|
|Computer
running|costs|||66|66|163|
|Subscriptions||||250|250|494|
|Training||||51|51|1,294|
|Bank charges||||327|327|1,111|
|Cleaning||||245|245|613|
|Bank interest|||36,075|62|36,137|56,840|
|Auditors fees||||13,000|13,000|6,300|
|Accountancy||||3,549|3,549|4,2'l2|
|Legal and professional||fees||13,513|13,513|21,587|
|Profit and loss on|disposal offixed assets||5,839||5,839|4,500|
||||1,174,736|98,108|1,272,844|1,800,508|
|Total 2020|||1,639,545|160,963|1,800,508||
##
##
##
##
||||||2020f|2020f|
|---|---|---|---|---|---|---|
|Fees payable|to the Charity's|auditor|for the audit ofthe Charity's|annual|||
|accounts|||||13,000|6,300|
|Fees payable|to the Charity's|auditor|in respect of:||||
|All non-audit|services not included
above||||3,549|4,412|
##
||||Group|Group|Company|Company|
|---|---|---|---|---|---|---|
||||2020
f|2020|2020f|2020f|
|Wages and|saladies||570,925|815,724|54,984|116,001|
|Social security costs|||41,574|65,613|4,374|10,292|
|Contribution|to defined contribution|pension|||||
|schemes|||9,372|15,721|908|2,358|
||||621,871|897,058|60,266|128,651|
|||Group|Group|
|---|---|---|---|
|||2020|2020|
|||No.|No.|
|Research activities||28|24|
|School visits|||2|
|Management|and administration||6|
|Estates|||4|
|||37|36|
|Group|Group|
|---|---|
|2020|2020|
|No.|No.|
##
##
##
##
|Taxation||||
|---|---|---|---|
|||2020|2020|
|||6||
|Corporation|tax|||
|Current tax on net income for the period||95,278|29,738|
|Total current|tax|95,278|29,738|
|Deferred tax||||
|Origination
and reversal of timing differences||1,993|249|
|Total deferred tax||1,993|249|
|Taxation on|net income|97,271|29,987|
||||||2020|2020|
|---|---|---|---|---|---|---|
||||||6||
|Net income|before tax||||568,294|233,763|
|Effects of:|||||||
|Expenses not deductible||for tax purposes,|other than goodwill|amortisation|||
|and impairment|||||1,687|4,693|
|Depreciation|for period|in excess ofcapital allowances/(Capital||allowances|||
|for period
in|excess ofdepreciation)||||30,382|(43,905)|
|Adjustment|in research|and development|tax credit leading to|an|||
|increase/(decrease)
in the tax charge|||||65,202|69,199|
|Total tax charge forthe period|||||97,271|29,987|
##
##
||Freehold|Plant and|Motor|Fixtures|Computer||
|---|---|---|---|---|---|---|
||property
8|machinery
f|vehicles
8|and fittings
6|equipment
6|Total
f|
|Cost or valuation|||||||
|At 1 April 2020|3,026,106|908,382|43,575|21,843|66,711|4,066,617|
|Additions|5,939|47,879||||53,818|
|Disposals|(3,755)|(38,905)|||(1,683)|(44,343)|
|At 31 December 2020|3,028,290|917,356|43,575|21,843|65,028|4,076,092|
|Depreciation|||||||
|At 1 April 2020|91,004|727,424|31,433|16,575|48,017|914,453|
|Charge for the period|15,142|35,457|2,277|986|3,381|57,243|
|On disposals|(313)|(36,519)|||(1,023)|(37,855)|
|At 31 December 2020|105,833|726,362|33,710|17,561|50,375|933,841|
|Net book value|||||||
|At 31 December 2020|2,922,457|190,994|9,865|4,282|14,653|3,142,251|
|At31March 2020|2,935,102|180,958|12,142|5,268|18,694|3,152,164|
##
##
##
||Unlisted|
|---|---|
||investments|
|Group|6|
|Cost or valuation||
|At 1 April 2020|100|
|Revaluations|4,460|
|At 31 December 2020|4,560|
|Net book value||
|At 31December 2020|4,560|
|At 31March 2020|100|
||Investments|
||in|
||subsidiary|
||companies|
|Charity|6|
|Cost or valuation||
|At 1 April 2020||
|At 31December 2020||
|Net book value||
|At 31 December 2020||
|At 31March 2020||
##
##
##
##
||Principal sub|sidiaries|sidiaries|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||The folloviing|was a subsidiary||undertaking||ofthe Chadity:||||||||||
||Name||||||Company|||Holding||Included||in||
||||||||number|||||consolidation||||
||Stockbridge Technology||Centre|Limited|||04175440||||100'/0|Yes||||
||The financial|results ofthe subsidiary|||for|the period were:||||||||||
||Name|||||Income|Expenditure|||Profit/(Loss)|||Net|assets||
|||||||6|||||ISurplusl|||||
|||||||||||(Deficit) for||||||
||||||||||||the period|||||
||||||||||||E|||||
||Stockbridge|Technology|Centre|||1,703,857||1,198,709|||505,148||2,756,671|||
||Limited|||||||||||||||
|15.|Stocks|||||||||||||||
||||||||||||Group|||||
|||||||||||||31||Group||
||||||||||||December||31March|||
||||||||||||2020|||2020||
|||||||||||||8|||8|
||Raw materials|and consumables|||||||||61,457|||74,|160|
|16.|Debtors|||||||||||||||
||||||||Group||||Company|||||
||||||||31||Group|||31|Company|||
|||||||December||31|March||December||31March|||
||||||||2020||2020||2020|||2020||
||||||||8|||6||8|||6|
||Due within one year|||||||||||||||
||Trade debtors|||||437,921||319,169|||||||984|
||Other debtors|||||150,710||118,611||||||||
||Prepayments|and accrued income||||136,759||48,||158|66,469|||11,703||
|||||||725,390||485,938|||66,469|||12,687||
##
##
##
|||||||||Group||Company||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||31|Group|31|Company|
||||||||December||31March|December|31March|
|||||||||2020|2020|2020|2020|
|||||||||||6||
|Bank overdrafts|||||||||63,094|||
|Bank loans||||||||75,552|75,552|||
|Other loans|||||||||7,500|||
|Trade creditors||||||||88,405|101,553||552|
|Other taxation|||and|social security|||191,918||16,973|||
|Obligations||under||finance lease and hire||||||||
|purchase|contracts|||||||5,302|7,380|||
|Other creditors||||||||6,406|7,825|||
|Accruals|and deferred||||income|||98,552|147,600|50,225|55,250|
||||||||466,135||427,477|50,225|55,812|
|||||||||Group||Company||
|||||||||31|Gmup|31|Company|
||||||||December||31March|December|31March|
|||||||||2020
6|2020f|2020f|2020
5|
|Deferred|Income|||||||||||
|Deferred|income at 1||||April 2020||104,346||231,620|47,580|78,225|
|Amounts|released|||from previous||periods|(51,732)||(127,274)|(5,014)|(30,645)|
|||||||||52,614|104,346|42,566|47,580|
|Creditors:||Amounts|||falling due|after more|than one year|||||
|||||||||||Group||
|||||||||||31|Group|
|||||||||||December|31March|
|||||||||||2020|2020|
||||||||||||6|
|Bank loans||||||||||669,620|738,081|
|Net obligations|||under||finance lease and hire||purchase|contracts||2,763|6,963|
|||||||||||672,383|745,044|
##
##
##
##
##
|||31|
|---|---|---|
|||December|
|||2020|
|||5|
|Group and Charity|||
|At the beginning|ofthe period|203,540|
|Charge for the period||1,993|
|Deferred tax on|revaluation||
|||205,533|
|The deferred|tax balance is made up as follows:|||
|---|---|---|---|
|||Group||
|||31|Group|
|||December|31March|
|||2020|2020|
|||5|5|
|Accelerated|capital allowances|(203,540)|(41,299)|
|Deferred tax|on revaluation|(1,993)|(162,241)|
|||(205,533)|(203,540)|
##
##
##
##
|Statemen|t||offunds - current|period|||||
|---|---|---|---|---|---|---|---|---|
|||||||||Balance at|
|||||||||31|
|||||Balance at 1||||December|
|||||April 2020|Income|Expenditure|Taxation|2020|
|||||6|6|6|6|6|
|Unrestricted|||funds||||||
|General|Funds - all funds|||38,316|1,854,250|(1,285,956)|(97,271)|509,339|
|Reserves||||775,397||||775,397|
|Revaluation|||reserve|1,604,206||||1,604,206|
|||||2,417,919|1,854,250|(1,285,956)|(97,271)|2,888,942|
|Restricted|||funds||||||
|Restricted||Funds - all funds||903|51,691|(51,691)||903|
|Total of|funds|||2,418,822|1,905,941|(1,337,647)|(97,271)|2,889,845|
##
##
|Statement|offund|s - prior period|||||||
|---|---|---|---|---|---|---|---|---|
|||||||||Balance at|
|||Balance at|||||Gainer|31March|
|||1April 2019|Income
f|Expenditure|f|Taxationf|(Losses)f|2020f|
|Unrestricted|||||||||
|funds|||||||||
|General Funds-|||||||||
|all funds||(5,199)|49,006|(178,144)||||(134,337)|
|Reserves||615,136|1,997,536|(1,634,635)||(29,987)||948,050|
|Revaluation|||||||||
|reserve||1,621,284|||||(17,076)|1,604,206|
|||2,231,221|2,046,542|(1,812,779)||(29,987)|(17,078)|2,417,919|
|Restricted|||||||||
|funds|||||||||
|Restricted|Funds||||||||
|-all funds||903|95,847|(95,847)||||903|
|Totai offunds||2,232, 124|2,142,389|(1,908,S2S)||(29,987)|(17,078)|2,418,822|
##
|Summary
offunds - cu|rrent pedod|||||
|---|---|---|---|---|---|
||||||Balance at|
||||||31|
||Balance at 1||||December|
||April 2020f|Income
f|Expenditure
f|Taxationf|2020f|
|General funds|2,417,919|1,854,250|(1,285,956)|(97,271)|2,888,942|
|Restricted funds|903|51,691|(51,691)||903|
||2,418,822|1,905,941|(1,337,647)|(97,271)|2,889,845|
##
##
##
|||||||Balance at|
|---|---|---|---|---|---|---|
||Balance at||||Gains/|31March|
||1 April 2019f|Income|Expendituref|Taxationf|(Losses)
f|2020
5|
|General funds|2,231,221|2,046,542|(1,812,779)|(29,987)|(17,078)|2,417,919|
|Restricted funds|903|95,847|(95,847)|||903|
||2,232,124|2,142,389|(1,908,626)|(29,987)|(17,078)|2,418,822|
##
|Analysis ofnet assets between funds
Analysis of net assets between funds - current|period|||
|---|---|---|---|
||Unrestricted|Restricted|Total|
||funds|funds|funds|
||31|31|31|
||December|December|December|
||2020f|2020f|2020
6|
|Tangible fixed assets|3,142,251||3,142,251|
|Fixed asset investments|4,560||4,560|
|Current assets|1,086,182|903|1,087,085|
|Creditors due within one year|(466,135)||(466,135)|
|Creditors due in more than one year|(672,383)||(672,383)|
|Provisions for liabilities and charges|(205,533)||(205,533)|
|Total|2,888,942|903|2,889,845|
##
##
##
##
##
||Analysis ofn|et as|sets between|funds - prior period||||
|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restncted|Total|
||||||funds|funds|funds|
||||||31March|31March|31March|
||||||2020|2020f|2020
6|
||Tangible
fixed|assets|||3,152,164||3, '/52, 164|
||Fixed asset investments||||100||100|
||Current assets||||641,716|903|642,619|
||Creditors due|within|one year||(427,477)||(427,477)|
||Creditors due|in more than one year|||(745,044)||(745,044)|
||Provisions
for|liabilities and charges|||(203,540)||(203,540)|
||Total||||2,417,919|903|2,418,822|
|23.|Reconciliation|ofnet movement||in funds to net cash|flow from operating|activities||
|||||||Group||
|||||||31|Group|
|||||||December|31March|
|||||||2020
6|2020f|
||Net income for the||period (as per|Statement of Financial|Activities)|471,023|203,776|
||Adjustments|for:||||||
||Depreciation
charges|||||57,243|73,026|
||Loss on the sale offixed assets|||||5,839|4,500|
||Decrease/(increase)||in stocks|||12,703|(5,087)|
||Increase
in debtors|||||(239,452)|(25,907)|
||Increase/(decrease)||in creditors|||104,423|(119,989)|
||Deferred tax|||||1,993|17,327|
||Net cash provided||by operating|activities||413,772|147,646|
##
##
##
##
||||Group||
|---|---|---|---|---|
||||31|Group|
||||December|31March|
||||2020f|2020f|
|Cash in hand|||227|'I82|
|Cash at|bank||300,011|82,339|
|Overdraft|facility repayable|on demand||(63,094)|
|Total cash and cash equivalents|||300,238|19,427|
##
##
||||||At 31|
|---|---|---|---|---|---|
||||At 1 Apdl||December|
||||2020
f|Cash flowsf|2020f|
|Cash at bank and in hand|||82,521|217,717|300,238|
|Bank overdrafts|repayable|on demand|(63,094)|63,094||
|Debt due within|1 year||(83,052)|7,500|(75,552)|
|Debt due after 1 year|||(738,081)|68,461|(669,620)|
|Finance leases|||(14,343)|6,278|(8,065)|
||||(816,049)|363,050|(452,999)|
##
|payments|und|er non-cancellable
operating
leases as follows:|||
|---|---|---|---|---|
||||Group||
||||31|Group|
||||December|31March|
||||2020f|2020|
|Not later than||1 year|2,459|3,278|
|Later than|1 year and not later than 5years|||6,963|
||||2,459|10241|