| Page | |
|---|---|
| Reference and administrative details of the charity, its trustees and advisers | 1 |
| Trustees' report | 2-5 |
| Independent auditors' report | 6-8 |
| Statement of financial activities | 9 |
| Balance sheet | 10 |
| Statement of cash flows | 11 |
| Notes to the financial statements | 12-22 |
| Endowment Unrestricted | Endowment Unrestricted | Total | Total | |
|---|---|---|---|---|
| funds funds | funds | funds | ||
| 2021 2021 Note £ £ |
2021£ | 2020 £ |
||
| INCOME AND ENDOWMENTS FROM: | ||||
| Investments | 2 | 276,603 | 276,603 | 368,611 |
| TOTAL INCOME AND ENDOWMENTS | 276,603 | 276,603 | 368,611 | |
| EXPENDITURE ON: | ||||
| Raising funds Charitable activities |
29,216 5,4 |
2,684 194,448 |
31,900 194,448 |
35,997 107,376 |
| TOTAL EXPENDITURE | 6 29,216 | 197,132 | 226,348 | 143,373 |
| NET INCOME / (EXPENDITURE) BEFORE | ||||
| INVESTMENT GAINS/(LOSSES) Net gains/(losses) on investments |
(29,216) 9,10 2,813,729 |
79,471 | 50,255 225,238 2,813,729 (1,146,507) |
|
| NET INCOME / (EXPENDITURE) BEFORE | ||||
| OTHER RECOGNISED GAINS AND | ||||
| LOSSES | 2,784,513 | 79,471 | 2,863,984 | (921,269) |
| NET MOVEMENT IN FUNDS | 2,784,513 | 79,471 | 2,863,984 | (921,269) |
| RECONCILIATION OF FUNDS: | ||||
| Total funds brought forward | 13,681,980 | 271,148 | 13,953,128 14,874,397 | |
| TOTAL FUNDS CARRIED FORWARD | 16,466,493 | 350,619 16,817,112 13,953,128 |
| Note | £ | 2021£ | £ | 2020£ | |
|---|---|---|---|---|---|
| FIXED ASSETS | |||||
| Investment property | 9 | 360,000 | 329.932 | ||
| Investments | 10 | 16,592,822 | 13,857,505 | ||
| 16,952,822 | u.187.437 | ||||
| CURRENT ASSETS | |||||
| Debtors | 11 | 14,498 | 306 | ||
| Cash at bank and in hand | 299,891 | 187,681 | |||
| 314,389 | 187,987 | ||||
| CREDITORS: amounts falling due within | |||||
| one year 12 | (260,099) | (280.296) | |||
| NET CURRENT ASSETS/(LIABILITIES) | 54,290 | (92,309) | |||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 17,007,112 | 14,095,128 | |||
| CREDITORS: amounts falling due after | |||||
| more than one year | 13 | (190,000) | (142,000) | ||
| NET ASSETS | 16,817,112 | 13.953,128 | |||
| CHARITT FUNDS | |||||
| Endowment funds | 15 | 16,466,493 | 13,681,980 | ||
| Unrestricted funds | 15 | 350,619 | 271,148 | ||
| TOTAL FUNDS | 16,817,112 | 13,953,128 |
| Note | 2021£ | 2020 £ |
|
|---|---|---|---|
| Cash flows from operating activities | |||
| Net cash used in operating activities | 17 | (184,372) | (254,680) |
| Cash flows from investing activities: | |||
| Dividends, interest and rents from investments Proceeds from sale of investments Purchase of investments |
248,239 3,141,547 (3,093,204) |
368,611 4,175,670 (4,202,976) |
|
| Net cash provided by investing activities | 296,582 | 341,305 | |
| Change in cash and cash equivalents in the year | 112,210 | 86,625 | |
| Cash and cash equivalents brought forward | 187,681 | 101,056 | |
| Cash and cash equivalents carried forward | 299,891 | 187,681 |
| INVESTMENT INCOME | |||
|---|---|---|---|
| Endowment Unrestricted | Total | Total | |
| funds funds | funds | funds | |
| 2021 2021 £ £ |
2021£ | 2020 £ |
|
| Investment income - local investment | |||
| properties | 10,740 | 10,740 | 10,740 |
| Investment income - local listed | |||
| investments | 155,021 | 155,021 | 208,074 |
| Investment income - foreign listed | |||
| investments | 110,789 | 110,789 | 148,705 |
| Investment income - local cash | 53 | 53 | 1,092 |
| 276,603 | 276,603 | 368,611 | |
| Total 2020 | 368,611 | 368,611 | |
| T OF INSTITUTIONAL GRANTS PAYABLE | |||
| Name of institution/grant | 2021£ | 2020 £ |
|
| 1. Culford School - Bursaries | 150,000 | ||
| 2. Ely Cathedral 3. Ely Cathedral - Bursaries |
(4,532) 14,000 |
4,533 14,000 |
|
| 4. Ely Cathedral - Transport | 3,000 | ||
| 5. Norfolk Community Foundation 6. Age UK |
5,000 2^,000 |
||
| 7. Pulse | 17,000 | ||
| 8. Ely Museum | 20,000 | ||
| 9. East Anglia Air Ambulance | 2,500 | ||
| 10. Ely Cathedral - Safety rails | 14,999 | ||
| 11. Alzheimers Research Trust | 2,500 | ||
| 12. VIVA | ^0,000 | ||
| 13. West Norfolk Hospice Tapping House | 1,000 | ||
| 182,468 | 92,532 |
| ALYSIS OF EXPENDITURE ON | CHARITABLE ACTIVITIES | ||
|---|---|---|---|
| Endowment Unrestricted | Total | Total | |
| funds funds | funds | funds | |
| 2021 2021 £ £ |
2021£ | 2020 £ |
|
| Grant Making | 182,468 | 182,468 | 92,532 |
| Total 2020 | 92,532 | 92,532 | |
| GOVERNANCE COSTS | |||
| Endowment Unrestricted | Total | Total | |
| funds funds | funds | funds | |
| 2021 2021 £ £ |
2021£ | 2020 £ |
|
| Audit Fees | 2,822 | 2,822 | 2,892 |
| Accountancy Fees | 5,796 | 5,796 | 5,784 |
| Legal Fees | 3,362 | 3,362 | 5,538 |
| Sundries | 630 | ||
| 11,980 | 11,980 | 14,844 |
| Other costs | Total | Total | |
|---|---|---|---|
| 2021£ | 2021£ | 2020 £ |
|
| Expenditure on investment management | 31,900 | 31,900 | 35,997 |
| Costs of raising funds | 31,900 | 31,900 | 35,997 |
| Grant Making | 182,468 | 182,468 | 92,532 |
| Expenditure on governance | 11,980 | 11,980 | 14,845 |
| 226,348 | 226,348 | 143,374 | |
| Total 2020 | 143,374 | 143,374 |
| DITORS' REMUNERATION | ||
|---|---|---|
| 2021£ | 2020 £ |
|
| Fees payable to the charity's auditor and its associates for the | ||
| audit of the charity's annual accounts | 2,822 | 2,892 |
| Fees payable to the charity's auditor and its associates in respect of: |
||
| All other non-audit services not included above | 5,796 | 5,784 |
| VESTMENT PROPERTY | |
|---|---|
| Freehold | |
| investment | |
| property | |
| £ | |
| Valuation | |
| At 1 April 2020 | 329,932 |
| Surplus/(deficit) on revaluation | 30,068 |
| At 31 March 2021 | 360,000 |
| Comprising | |
| Cost | 329,932 |
| Annual revaluation surplus/(deficit): 2021 |
30,068 |
| At 31 March 2021 | 360,000 |
| 10. FIXED ASSET INVESTMENTS | ||||
|---|---|---|---|---|
| Listed Other | ||||
| securities | investments | Total | ||
| £ £ | £ | |||
| Market value | ||||
| At 1 April 2020 | 12,988,036 | 869,469 | 13,857,505 | |
| Additions | 2,272,707 | 820,497 | 3,093,204 | |
| Disposals | (1,819,698) | (1,175,538) | (2,995,236) | |
| Revaluations | 2,637,349 | 2,637,349 | ||
| At 31 March 2021 | 16,078,394 | 514,428 | 16,592,822 | |
| Historical cost | 11,080,505 | 514,428 | 11,594,933 | |
| Investments at market value comprise: | ||||
| UK £ |
Overseas£ | 2021£ | 2020£ | |
| Listed investments | 15,297,036 | 781,358 | 16,078,394 | 12,988,036 |
| Other fixed asset investments | 514,428 | 514,428 | 869,469 | |
| Total market value | 15,811,464 | 781,358 | 16,592,822 13,857,505 | |
| 11. DEBTORS | ||||
| 2021£ | 2020 £ |
|||
| Prepayments and accrued income | 14,498 | 306 | ||
| 12. CREDITORS: Amounts falling due within | one year | |||
| 2021£ | 2020£ | |||
| Trade creditors | 18,797 | 34,474 | ||
| Accruals and deferred income | 11,200 | 10,188 | ||
| Grants accrued - Institutional | 230,102 | 235,634 | ||
| 260,099 | 280,296 | |||
| 13. CREDITORS: Amounts falling due after more than one | year | |||
| 2021£ | 2020 £ |
|||
| Grants accrued - Institutional | 190,000 | 142,000 | ||
| Page 18 |
| NANCIAL INSTRUMENTS | ||
|---|---|---|
| 2021£ | 2020 £ |
|
| Financial Assets | ||
| Financial assets measured at fair value through net income | 16,952,822 | 14,187,437 |
| Balance at | ||||
|---|---|---|---|---|
| Balance at | Gains/ 31 March | |||
| 1 | April 2020 £ |
Income Expenditure £ £ |
(Losses) 2021 £ £ |
|
| Unrestricted funds | ||||
| General Fund | 271,148 | 262,421 (197,132) | 336,437 | |
| Other General funds | 14,182 | 14,182 | ||
| 271,148 | 276,603 (197,132) | 350,619 | ||
| Endowment funds | ||||
| Endowment Funds - all funds | 13,681,980 | (29,216) | 2,813,729 16,466,493 | |
| Total of funds | 13,953,128 | 276,603 (226,348) 2,813,729 16,817,112 | ||
| STATEMENT OF FUNDS - PRIOR | YEAR | |||
| Balance at | ||||
| Balance at | Gains/ 31 March | |||
| 1 | April 2019£ | Income Expenditure £ £ |
(Losses) 2020 £ £ |
|
| General funds | ||||
| General Fund | 11,796 | 368,611 (109,260) | 271,147 | |
| Endowment Funds - all funds | 14,862,602 | (34,115) (1,146,507) 13,681,980 |
| Balance at | ||||
|---|---|---|---|---|
| Balance at | Gains/ 31 March | |||
| 1 April 2020 | Income | Expenditure | (Losses) 2021 | |
| £ | £ £ | £ £ | ||
| General fund | 271,148 | 276,603 | (197,132) | 350,619 |
| Endowment funds | 13,681,980 | (29,216) | 2,813,729 16,466,493 | |
| 13,953,128 | 276,603 (226,348) 2,813,729 16,817,112 | |||
| SUMMARY OF FUNDS - PRIOR YEAR | ||||
| Balance at | ||||
| Balance at | Gains/ 31 March | |||
| 1 April 2019 £ |
Income Expenditure £ £ |
(Losses) 2020 £ £ |
||
| General funds | 11,796 | 368,611 | (109,260) - 271,147 | |
| Endowment funds | 14,862,602 | (34,115) | (1,146,507) 13,681,980 | |
| 14,874,398 | 368,611 | (143,375) (1,146,507) 13,953,127 |
| Endowment Unrestricted | Endowment Unrestricted | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2021 2021 £ £ |
2021£ | ||
| Fixed asset investments | 16,592,822 | 16,592,822 | |
| Investment property | 360,000 | 360,000 | |
| Current assets | 314,390 | 314,390 | |
| Creditors due within one year | (260,099) | (260,099) | |
| Creditors due in more than one year Other assets/(liabilities) |
(486,329) | (190,000) 486,329 |
(190,000) |
| Difference | (1) | (1) | |
| 16,466,493 | 350,619 16,817,112 |
| Endowment Unrestricted Total | |
|---|---|
| funds funds funds | |
| 2020 2020 2020 | |
| £ £ £ | |
| Fixed asset investments | 13,857,505 13,857,505 |
| Investment property Current assets Creditors due within one year Creditors due in more than one year Other assets/(liabilities) |
329,932 (505,457) 329,932 187,986 187,986 (280,295) (280,295) (142,000) (142,000) 505,457 |
| 13,681,980 271,148 13,953,128 |
ACTIVITIES |
||
|---|---|---|
| 2021£ | 2020 £ |
|
| Net income/(expenditure) for the year (as per Statement of Financial Activities) |
2,863,984 | (921,269) |
| Adjustment for: | ||
| (Losses)/gains on investments Dividends, interest and rents from investments (lncrease)/decrease in debtors lncrease/(decrease) in creditors |
(2,813,729) (262,421) (10) 27,804 |
1,146,507 (368,611) 38 (111,345) |
| Net cash used in operating activities | (184,372) | (254,680) |
| NALYSIS OF CASH AND CASH EQUIVALENTS | ||
| 2021£ | 2020 £ |
|
| Cash in hand | 299,891 | 187,681 |
| Total | 299,891 | 187,681 |