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|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|
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||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|
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||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|
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|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|
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|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|
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||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||
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|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|
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|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|
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|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||
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|||||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||
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||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||
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||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|
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