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2020-06-30-accounts
| CONTENTS |
PAGE |
| Legal and Administrative details |
1 |
| Trustees' Report |
2 |
| IndependentAuditor's Report |
9 |
| Consolidated StatementofFinancial Activities |
12 |
| Consolidated Balance Sheet |
13 |
| Charitable Company Balance Sheet |
14 |
| Consolidated StatementofCash Flows |
15 |
| Charitable Company StatementofCash Flows |
16 |
| Notes tothe Financial Statements |
17 |
| UK Company registration number |
05745215 |
|
| UK Charity registration number |
1113864 |
|
| NZ Charity registration number |
CC41735 |
|
| Directors and Trustees |
Mr C R Boyes (Chair) |
|
|
Mr S F B Taylor |
|
|
Mr E F P Valletta |
|
|
Mr D HWynne-Finch |
|
| Company Secretary |
Mr E F P Valletta |
|
| Registered Office |
Roythornes Solicitors Enterprise |
Campus |
|
AlconburyWeald |
|
|
Huntingdon |
|
|
Cambridgeshire |
|
|
PE28 4XA |
|
| Bankers |
Unity TrustBank pic |
|
|
Four Brindley Place |
|
|
Birmingham |
|
|
81 2JB |
|
| Investment advisers |
Canaccord Genuity Wealth Management (London) |
|
|
Craigs InvestmentPartners (Auckland) |
|
| Solicitors |
Roythornes Solicitors Enterprise |
Rennie Cox |
|
Campus |
Level 15, 126 VincentStreet |
|
AlconburyWeald |
PO Box6647, |
|
Huntingdon |
DX CP28002 |
|
Cambridgeshire |
Auckland, 1141, New |
|
PE28 4XA |
Zealand |
| Auditors |
RSM UKAuditLLP |
|
|
Blenheim House |
|
|
NewmarketRoad |
|
|
Bury StEdmunds |
|
|
Suffolk |
|
|
IP33 3SB |
|
RSM UK Audit LLP
29/11/21
|
|
|
General |
Designated |
Total Funds |
Total Funds |
|
|
|
Funds |
Funds |
2020 |
2019 |
|
Note |
|
£ |
£ |
£ |
£ |
| INCOME FROM |
|
|
|
|
|
|
| Charitable activities |
|
|
|
|
|
|
| Farm income |
|
2 |
1,980,906 |
|
1,980,906 |
2,053,486 |
| Investments |
|
3 |
25,176 |
|
25,176 |
29,113 |
| Other |
|
4 |
328 |
|
328 |
122,975 |
| Total income |
|
|
2,006,410 |
|
2,006,410 |
2,205,574 |
| EXPENDITURE ON: |
|
|
|
|
|
|
| Raising funds |
|
|
|
|
|
|
| Investment managerfees |
|
|
8,877 |
|
8,877 |
9,159 |
| Charitable activities |
|
|
|
|
|
|
| Charitable grants |
|
5 |
48,850 |
|
48,850 |
85,721 |
| Charitable donations |
|
6 |
|
|
|
1,019 |
| Costs relating tofarming |
|
7 |
1,729,458 |
157,060 |
1,886,518 |
2,017,275 |
| TOTAL EXPENDITURE |
|
|
1,787,185 |
157,060 |
1,944,245 |
2,113,174 |
| NET INCOME BEFORE |
|
|
|
|
|
|
| GAINS/(LOSSES) |
|
|
219,225 |
(157,060) |
62,165 |
92,400 |
| Netgains on investments |
|
12 |
|
(45,352) |
(45,352) |
(161,311) |
| **NET INCOME/(EXPENDITURE) ** |
|
10 |
219,225 |
(202,412) |
16,813 |
(68,911) |
| TRANSFERS BETWEEN |
|
|
|
|
|
|
| FUNDS |
|
18 |
(180,258) |
180,258 |
|
|
| NET MOVEMENT IN FUNDS |
|
|
38,967 |
(22,154) |
16,813 |
(68,911) |
| RECONCILIATION OF FUNDS |
|
|
|
|
|
|
| Fund balances brought forward |
|
|
|
|
|
|
| at 1 July |
|
|
2,073,496 |
7,016,197 |
9,089,693 |
9,158,604 |
| Total funds carried forward at |
|
|
|
|
|
|
| 30 June |
|
19 |
2,112,463 |
6,994,043 |
9,106,506 |
9,089,693 |
|
|
2020 |
|
2019 |
|
| Note |
|
£ |
£ |
£ |
£ |
| FIXED ASSETS |
|
|
|
|
|
| Tangible assets |
11 |
|
10,594,533 |
|
10,782,548 |
| Investments |
12 |
|
1,005,766 |
|
1,172,899 |
| TOTAL FIXED ASSETS |
|
|
11,600,299 |
|
11,955,447 |
| CURRENT ASSETS |
|
|
|
|
|
| Stocks |
14 |
1,889,906 |
|
1,993,261 |
|
| Debtors |
15 |
52,430 |
|
107,140 |
|
| Cash at bank and in hand |
|
277,932 |
|
231,138 |
|
|
|
2,220,268 |
|
2,331,539 |
|
| LIABILITIES |
|
|
|
|
|
| Creditors: amounts falling due within one year |
16 |
(107,805) |
|
(258,043) |
|
| NET CURRENT ASSETS |
|
|
2,112,463 |
|
2,073,496 |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
13,712,762 |
|
14,028,943 |
| CREDITORS: amounts falling due after more |
17 |
|
|
|
|
| thanoneyear |
|
|
(4,606,256) |
|
(4,939,250) |
| TOTAL NET ASSETS |
|
|
9,106,506 |
|
9,089,693 |
| FUNDS AND RESERVES |
|
|
|
|
|
| Designated fund |
18 |
|
6,994,043 |
|
7,016,197 |
| General fund |
|
|
2,112,463 |
|
2,073,496 |
| TOTAL FUNDS |
|
|
|
|
|
|
19 |
|
9,106,506 |
|
9,089,693 |
|
|
2020 |
|
2019 |
|
| Note |
|
£ |
£ |
£ |
£ |
| FIXED ASSETS |
|
|
|
|
|
| Tangible assets |
11 |
|
10,459,103 |
|
10,640,682 |
| Investments |
12 |
|
480,221 |
|
631,230 |
| Investment in subsidiary undertaking |
13 |
|
38 |
|
38 |
| TOTAL FIXED ASSETS |
|
|
10,939,362 |
|
11,271,950 |
| CURRENT ASSETS |
|
|
|
|
|
| Debtors |
15 |
2,598 |
|
36,450 |
|
| Cash at bank and in hand |
|
277,872 |
|
231,077 |
|
|
|
280,470 |
|
267,527 |
|
| LIABILITIES |
|
|
|
|
|
| Creditors: amounts falling due within one year |
16 |
(1,392,802) |
|
(1,487,393) |
|
| NET CURRENT LIABILITIES |
|
|
(1,112,332) |
|
(1,219,866) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
9,827,030 |
|
10,052,084 |
| CREDITORS: amounts falling due after more |
17 |
|
|
|
|
| than oneyear |
|
|
(1,040,962) |
|
(1,188,590) |
| TOTAL NET ASSETS |
|
|
8,786,068 |
|
8,863,494 |
| FUNDS AND RESERVES |
|
|
|
|
|
| Designated fund |
18 |
|
9,898,400 |
|
10,083,360 |
| General fund |
|
|
(1,112,332) |
|
(1,219,866) |
| TOTAL FUNDS |
19 |
|
8,786,068 |
|
8,863,494 |
|
Notes |
2020 |
2019 |
| Cash flows from operating activities: |
|
|
|
| Net cash provided by operating activities |
A |
602,947 |
606,656 |
| Cash flows from investing activities: |
|
|
|
| Investment income |
|
25,176 |
29,113 |
| Loan interest paid |
|
(235,673) |
(263,453) |
| Purchase of tangible fixed assets |
|
(64,925) |
(54,588) |
| Proceeds from the disposal of tangible fixed assets |
|
4,571 |
|
| Proceeds from the disposal of investments |
|
228,096 |
262,408 |
| Purchase of investments |
|
(117,949) |
(262,725) |
| Net cash used in investing activities |
|
(160,704) |
(289,245) |
| Cash flows from financing activities: |
|
|
|
| Loan advances |
|
|
1,320,655 |
| Loans repaid |
|
(256,351) |
(1,925,636) |
| Net cash provided by financing activities |
|
(256,351) |
(604,981) |
| Change in cash and cash equivalents in the year |
|
185,892 |
(287,570) |
| Cash and cash equivalents as 1 July |
B |
113,095 |
333,577 |
| Exchange difference on cash and cash equivalents |
|
(21,478) |
67,088 |
| Cash and cash equivalents as 30 June |
B |
277,509 |
113,095 |
|
Net income |
16,813 |
(68,910) |
|
Adjustments for: |
|
|
|
Depreciation charge |
246,905 |
250,698 |
|
Gains on investments |
45,352 |
161,310 |
|
(Gains)/losses on foreign exchange |
(40,080) |
71,197 |
|
Losses on disposal of fixed assets |
1,464 |
8,494 |
|
Investment income and interest receivable including rent receivable |
(25,176) |
(29,113) |
|
Interest payable |
235,673 |
263,453 |
|
Decrease/(increase) in stocks |
103,355 |
(71,350) |
|
Decrease/(increase) in debtors |
54,711 |
(9,902) |
|
(Decrease)/increase in creditors |
(36,070) |
30,779 |
|
Net cash provided by operating activities |
602,947 |
606,656 |
| B |
Analysis of cash and cash equivalents |
|
|
|
Cash at bank and in hand |
277,932 |
231,138 |
|
Cash held by investment managers |
10,393 |
6,941 |
|
Bank overdraft |
(10,816) |
(124,984) |
|
Total cash and cash equivalents |
277,509 |
113,095 |
|
|
Notes |
2020 |
2019 |
| Cash flows from operating activities: |
|
|
|
|
|
Netcash used in by operating activities |
A |
(78,878) |
(233,019) |
| Cash flows from investing activities: |
|
|
|
|
|
Investmentincome |
|
199,642 |
209,024 |
|
Loan interestpaid |
|
(44,433) |
(69,884) |
|
Purchase oftangible fixed assets |
|
(30,758) |
|
|
Proceeds fromthe disposal ofinvestments |
|
228,096 |
262,408 |
|
Purchase ofinvestments |
|
(113,483) |
(125,219) |
| Net cash used in investing activities |
|
|
239,064 |
276,329 |
| Cash flows from financing activities: |
|
|
|
|
|
Loans repaid |
|
(126,231) |
(129,545) |
| Net cash provided by financing activities |
|
|
(126,231) |
(129,545) |
| Change in cash and cash equivalents in the year |
|
|
33,955 |
(86,235) |
| Cash and cash equivalents as 1 July |
|
B |
238,018 |
356,398 |
| Exchange difference on cash and cash equivalents |
|
|
16,292 |
(32,145) |
| Cash and cash equivalents as 30 June |
|
B |
288,265 |
238,018 |
| A |
Reconciliation of net movement in funds to net cash used inoperating activities |
|
|
|
|
Net movement in funds |
|
(77,426) |
(75,325) |
|
Adjustments for: |
|
|
|
|
Depreciation charge |
|
212,337 |
216,886 |
|
Losses/(gains) on investments |
|
39,848 |
(15,746) |
|
(Gains)/losses on foreign exchange |
|
(37,688) |
69,542 |
|
Losses on disposal oftangible fixed assets |
|
|
3,679 |
|
Investmentincome and interestreceivable including rentreceivable |
|
(199,642) |
(209,024) |
|
Interestpayable |
|
44,433 |
69,884 |
|
Decrease in debtors |
|
33,852 |
(36,337) |
|
Decrease in creditors |
|
(94,591) |
(256,578) |
|
Net cash used in by operating activities |
|
(78,878) |
(233,019) |
| B |
Analysis of cash and cash equivalents |
|
|
|
|
Cash atbank and in hand |
|
277,872 |
231,077 |
|
Cash held by investmentmanagers |
|
10,393 |
6,941 |
|
Total cash and cash equivalents |
|
288,265 |
238,018 |
| Freehold building |
- 1% straight line for concrete buildings |
|
- 2% straight line forwooden buildings |
|
-4- 13% straight line forother structures |
| Farm development |
-1-45% straight line |
| Vehicles, plant & equipment |
- 20% straight line |
| Forestry |
- 0% |
|
2020 |
2019 |
|
£ |
£ |
| Sheep |
579,762 |
654,950 |
| Cattle |
439,537 |
473,292 |
| Dairy |
879,151 |
821,829 |
| Wool |
42,509 |
57,974 |
| Hives |
12,118 |
12,436 |
| Rental |
26,459 |
27,198 |
| Other |
1,370 |
5,807 |
|
1,980,906 |
2,053,486 |
3.
INVESTMENT INCOME |
|
|
|
2020 |
2019 |
|
£ |
£ |
| UK dividend income |
12,803 |
13,546 |
| Overseasdividend income |
12,106 |
9,264 |
| UK bank interest |
155 |
97 |
| Overseas bank interest |
112 |
6,206 |
|
25,176 |
29,113 |
4.
OTHER INCOME |
|
|
|
2020 |
2019 |
|
£ |
£ |
| Sale oftransferrabletitles |
|
46,401 |
| Sale of New Zealand Emissions Trading Scheme - New Zealand |
|
76,574 |
| Unit's |
|
|
| Other income |
328 |
|
|
328 |
122,975 |
5.
CHARITABLE GRANTS |
|
|
|
2020 |
2019 |
|
£ |
£ |
| For the furtherance of the science of agriculture |
|
|
| Research awards |
28,900 |
32,112 |
| Fellowship |
{7,574) |
7,773 |
|
21,326 |
39,885 |
5.
CHARITABLE GRANTS (continued) |
|
|
|
2020 |
2019 |
|
£ |
£ |
| For the advancement of education |
|
|
| Postgraduate scholarships |
15,148 |
33,682 |
| Charitable awards |
439 |
|
| UK Students' travel to NewZealand |
4,684 |
5,644 |
| Maori education grants |
2,525 |
|
| MinistryofEducation school bus grant |
393 |
708 |
| EastofEngland Agricultural Society |
1,200 |
1,000 |
|
24,389 |
41,034 |
| Support costs (see note 8) |
3,135 |
4,802 |
| Total |
48,850 |
85,721 |
6.
CHARITABLE DONATIONS |
|
|
|
2020 |
2019 |
|
£ |
£ |
| Donations payable |
|
|
| Whirlow Hall Farm Trust |
|
290 |
| Oxfam |
|
500 |
| ZANE |
|
200 |
| Supportcosts (see note 8) |
|
29 |
|
|
1,019 |
7.
COSTS RELATING TO FARMING |
|
|
|
2020 |
2019 |
|
£ |
£ |
| Salariesand wages (see note 9) |
292,692 |
226,311 |
| Livestockexpenses |
429,322 |
501,795 |
| Dairyexpenses |
302,500 |
416,510 |
| Wool expenses |
43,375 |
51,818 |
| Farm operating costs |
67,657 |
54,975 |
| Repairsand maintenance |
12,242 |
7,273 |
| Vehicle running expenses |
142,278 |
4,488 |
| Standing charges |
32,455 |
50,459 |
| Depreciation |
245,872 |
250,055 |
| Extension activities |
|
1,148 |
| Losson disposal offixed assets |
1,464 |
4,797 |
| Foreign exchange (gains)/losses |
(40,080) |
71,197 |
| Loan interest paid |
235,673 |
263,453 |
| Supportcosts (see note 8) |
121,068 |
112,996 |
|
1,886,518 |
2,017,275 |
|
2020 |
2019 |
|
£ |
£ |
| Managementfees |
|
|
| Salaries and wages (see note 9) |
15,944 |
19,022 |
| Trustees' expenses |
15,482 |
19,286 |
| NewZealand committee expenses |
13,572 |
14,719 |
| Administrationfees and other costs |
28,988 |
19,707 |
| Bank charges |
307 |
416 |
| Company secretarialfees |
1,555 |
2,372 |
| Governance costs |
48,925 |
42,818 |
|
124,773 |
118,340 |
| plitas follows: |
|
|
|
2020 |
2019 |
|
£ |
£ |
| Raisingfunds |
570 |
515 |
| Charitable grants |
3,135 |
4,816 |
| Charitable donations |
|
29 |
| Costs relating to farming |
121,068 |
112,980 |
|
124,773 |
118,340 |
|
2020 |
2019 |
|
£ |
£ |
| Staffcosts: |
|
|
| Wages and salaries |
301,164 |
240,086 |
| Pension costs |
7,472 |
5,247 |
| Total staff costs |
308,636 |
245,333 |
| Staffcosts analysed by function: |
|
|
| Farming |
|
|
| - Directcosts |
292,692 |
226,311 |
| - Supportcosts |
15,944 |
19,022 |
| Total staff costs |
308,636 |
245,333 |
| Average number ofemployees: |
|
|
| Fulltime |
9 |
10 |
| Employees paid above £60,000 |
1 |
|
| This is stated after charging |
|
|
|
|
|
2020 |
2019 |
|
|
£ |
£ |
| Auditor's remuneration |
|
|
|
| UKAuditor's remuneration |
-audit fees-current year |
11,300 |
10,500 |
|
- non-audit services |
3,000 |
2,885 |
| New Zealand Auditor's remuneration |
- audit fees |
9,817 |
9,984 |
|
- non-audit services |
22,155 |
20,262 |
| Amount of stocks recognised as an expense/(credit) during theyear |
|
71,778 |
284,154 |
| Depreciation |
|
246,905 |
250,698 |
|
Freehold |
Freehold |
Farm |
Forestry |
Vehicle, |
Total |
|
land |
buildings |
development |
|
plant & |
|
|
|
|
|
|
equipment |
|
|
£ |
£ |
£ |
£ |
£ |
£ |
| Cost or |
|
|
|
|
|
|
| valuation |
|
|
|
|
|
|
| 1 July 2019 |
7,028,097 |
2,617,236 |
2,449,768 |
46,956 |
616,321 |
12,758,378 |
| Additions |
|
|
30,758 |
|
34,167 |
64,925 |
| Disposals |
|
|
|
|
(34,327) |
(34,327) |
| Revaluation |
|
|
|
|
|
|
| 30 June 2020 |
7,028,097 |
2,617,236 |
2,480,526 |
46,956 |
616,161 |
12,788,976 |
| Depreciation |
|
|
|
|
|
|
| 1 July 2019 |
|
642,664 |
811,755 |
|
521,411 |
1,975,830 |
| Charge for the |
|
70,999 |
141,338 |
|
34,568 |
246,905 |
| year |
|
|
|
|
|
|
| Eliminated on |
|
|
|
|
(28,292) |
(28,292) |
| disposal |
|
|
|
|
|
|
| 30 June 2020 |
|
713,663 |
953,093 |
|
527,687 |
2,194,443 |
| Net book value |
|
|
|
|
|
|
| 30 June 2020 |
7,028,097 |
1,903,573 |
1,527,433 |
46,956 |
88,474 |
10,594,533 |
| Net book value 30 |
|
|
|
|
|
|
| June 2019 |
7,028,097 |
1,974,572 |
1,638,013 |
46,956 |
94,910 |
10,782,548 |
|
Freehold |
Freehold |
Farm |
Total |
|
land |
buildings |
development |
|
|
£ |
£ |
£ |
£ |
| Cost or valuation |
|
|
|
|
| At 1 July 2019 |
7,028,097 |
2,617,236 |
2,449,768 |
12,095,101 |
| Additions |
|
|
30,758 |
30,758 |
| At 30 June 2020 |
7,028,097 |
2,617,236 |
2,480,526 |
12,125,859 |
| Depreciation |
|
|
|
|
| 1 July 2019 |
|
642,664 |
811,755 |
1,454,419 |
| Charge for the year |
|
70,999 |
141,338 |
212,337 |
| Eliminated on disposal |
|
|
|
|
| 30 June 2020 |
|
713,663 |
953,093 |
1,666,756 |
| Net book value 30 June 2020 |
7,028,097 |
1,903,573 |
1,527,433 |
10,459,103 |
| Net book Value June 2019 |
7,028,097 |
1,974,572 |
1,638,013 |
10,640,682 |
|
|
GROUP |
|
**CHARITABLE ** |
COMPANY |
|
|
2020 |
2019 |
2020 |
2019 |
|
|
£ |
£ |
£ |
£ |
| Market value at 1July |
|
1,165,958 |
1,300,104 |
624,289 |
745,732 |
| Additions |
|
117,816 |
262,725 |
113,483 |
125,219 |
| Disposals |
|
(228,096) |
(262,408) |
(228,096) |
(262,408) |
| Realised gains in the year |
|
22,083 |
18,551 |
22,083 |
18,551 |
Unrealised
losses
in |
the |
(67,435) |
(179,862) |
(55,201) |
(12,946) |
| year |
|
|
|
|
|
| Exchange losses/(gains) |
|
(14,952) |
26,848 |
(6,730) |
10,141 |
| Market value at 30 June |
|
995,373 |
1,165,958 |
469,828 |
624,289 |
Cash
held
by
investment |
|
10,393 |
6,941 |
10,393 |
6,941 |
| managers |
|
|
|
|
|
| Total valueof investments at |
|
1,005,766 |
1,172,899 |
480,221 |
631,230 |
| 30 June |
|
|
|
|
|
| Cost at 30 June |
|
1,305,069 |
1,451,069 |
554,749 |
700,749 |
|
2020 |
2019 |
|
£ |
£ |
| Beef/sheep livestock |
1,243,730 |
1,322,671 |
| Dairy livestock |
627,011 |
670,590 |
| Wool stock |
19,165 |
|
|
1,889,906 |
1,993,261 |
|
GROUP |
|
**CHARITABLE ** |
COMPANY |
|
2020 |
2019 |
2020 |
2019 |
|
£ |
£ |
£ |
£ |
| Farmtrade debtors |
36 |
|
|
|
| Taxation recoverable |
2,775 |
22,504 |
2,598 |
|
| Sundrydebtors |
49,619 |
84,636 |
|
36,450 |
|
52,430 |
107,140 |
2,598 |
36,450 |
|
GROUP |
|
**CHARITABLE ** |
COMPANY |
|
2020 |
2019 |
2020 |
2019 |
|
£ |
£ |
£ |
£ |
| Bank overdraft |
10,816 |
124,984 |
|
|
| Farmtrade creditors |
55,085 |
91,750 |
11,715 |
10,650 |
| Accruals |
38,794 |
30,659 |
18,861 |
13,385 |
| GSTpayable |
3,110 |
10,650 |
|
14,630 |
| Amounts due to C Alma Baker Trust |
|
|
1,362,226 |
1,448,728 |
| (NZ) Limited |
|
|
|
|
|
107,805 |
258,043 |
1,392,802 |
1,487,393 |
|
GROUP |
GROUP |
**CHARITABLE ** |
COMPANY |
|
2020 |
2019 |
2020 |
2019 |
|
£ |
£ |
£ |
£ |
| Bank of New Zealand - loan |
|
|
|
|
| As at 1 July |
4,939,250 |
5,379,099 |
1,188,590 |
1,280,738 |
| Advances inthe year |
|
1,320,655 |
|
|
| Repayment |
{256,351) |
(1,925,636) |
{126,231) |
(129,545) |
| Exchange differences |
(76,643) |
165,132 |
{21,397) |
37,397 |
| At30 June |
4,606,256 |
4,939,250 |
1,040,962 |
1,188,590 |
| GROUP |
|
At 1 July |
Income/ |
Transfers |
Gains and |
At 30 June |
|
|
2019 |
(expenditure) |
|
losses |
2020 |
| Designated |
fund |
7,016,197 |
(202,412) |
180,258 |
|
6,994,043 |
|
|
At 1 July |
Income/ |
Transfers |
Gains and |
At 30 June |
|
|
2018 |
(expenditure) |
|
losses |
2019 |
| Designated |
fund |
6,913,084 |
(553,972) |
657,085 |
|
7,016,197 |
| CHARITABLE |
At 1 July |
Income/ |
Transfers |
Gains and |
At 30 June |
| COMPANY |
2019 |
(expenditure) |
|
losses |
2020 |
| Designated fund |
10,083,360 |
(230,792) |
45,832 |
|
9,898,400 |
|
At 1 July |
Income/ |
Transfers |
Gains and |
At 30 June |
|
2018 |
(expenditure) |
|
losses |
2019 |
| Designated fund |
10,331,206 |
(242,216) |
(5,630) |
|
10,083,360 |
| GROUP |
General |
Designated |
2020 |
|
funds |
funds |
total funds |
|
£ |
£ |
£ |
| Tangible fixed assets |
|
10,594,533 |
10,594,533 |
| Investments |
|
1,005,766 |
1,005,766 |
| Stocks |
1,889,906 |
|
1,889,906 |
| Debtors |
52,430 |
|
52,430 |
| Cash atbankand in hand |
277,932 |
|
277,932 |
| Creditors: amountsfalling due with one year |
(107,805) |
|
(107,805) |
| Creditors: amountsfalling due after morethan one year |
- |
(4,606,256) |
(4,606,256) |
|
2,112,463 |
6,994,043 |
9,106,506 |
| GROUP - Previous year |
General |
Designated |
2019 |
|
funds |
funds |
total funds |
|
£ |
£ |
£ |
| Tangible fixed assets |
|
10,782,548 |
10,782,548 |
| Investments |
|
1,172,899 |
1,172,899 |
| Stocks |
1,993,261 |
|
1,993,261 |
| Debtors |
107,140 |
|
107,140 |
| Cash atbankand in hand |
231,138 |
|
231,138 |
| Creditors: amountsfalling due with one year |
(258,043) |
|
(258,043) |
| Creditors: amountsfalling due after morethan one year |
- |
(4,939,250) |
(4,939,250) |
|
2,073,496 |
7,016,197 |
9,089,693 |
| CHARITABLE COMPANY |
General |
Designated |
2020 |
|
funds |
funds |
total funds |
|
£ |
£ |
£ |
| Tangible fixed assets |
|
10,459,103 |
10,459,103 |
| Investments |
|
480,221 |
480,221 |
| Investments in subsidiary undertaking |
|
38 |
38 |
| Debtors |
2,598 |
|
2,598 |
| Cash atbankand in hand |
277,872 |
|
277,872 |
| Creditors: amountsfalling due with one year |
(1,392,802) |
- |
(1,392,802) |
| Creditors: amountsfalling due after morethan one year |
- |
(1,040,962) |
(1,040,962) |
|
(1,112,332) |
9,898,400 |
8,786,068 |
| CHARITABLE COMPANY- Previous year |
General |
Designated |
2019 |
|
funds |
funds |
total funds |
|
£ |
£ |
£ |
| Tangible fixed assets |
|
10,640,682 |
10,640,682 |
| Investments |
|
631,230 |
631,230 |
| Investments in subsidiary undertaking |
|
38 |
38 |
| Debtors |
36,450 |
|
36,450 |
| Cash at bank and in hand |
231,077 |
|
231,077 |
| Creditors: amounts falling due with one year |
(1,487,393) |
- |
(1,487,393) |
| Creditors: amounts falling due after more than one year |
- |
(1,188,590) |
(1,188,590) |
|
(1,219,866) |
10,083,360 |
8,863,494 |
|
2020 |
2019 |
|
£ |
£ |
| Financial assets |
|
|
| Equity instruments held at fair value through SOFA |
1,005,766 |
1,172,899 |
| The carrying amount of the charitable company's financial instruments as at 30 Junewas: |
|
|
|
2020 |
2019 |
|
£ |
£ |
| Financial assets |
|
|
| Equity instruments held at fair value through the SOFA |
480,221 |
631,230 |
|
2020 |
2019 |
|
£ |
£ |
| Amounts receivable in: |
|
|
| Less than one year |
93,687 |
95,087 |
| Between one and five years |
|
95,087 |
|
|
General |
Designated |
Total Funds |
Total Funds |
|
|
Funds |
Funds |
2019 |
2018 |
| Note |
|
£ |
£ |
£ |
£ |
| INCOME FROM |
|
|
|
|
|
| Charitable activities |
|
|
|
|
|
| Farm income |
2 |
2,053,486 |
|
2,053,486 |
1,846,607 |
| Investments |
3 |
29,113 |
|
29,113 |
47,942 |
| Other |
4 |
122,975 |
|
122,975 |
109,766 |
| Total income |
|
2,205,574 |
|
2,205,574 |
2,004,315 |
| EXPENDITURE ON: |
|
|
|
|
|
| Raising funds |
|
|
|
|
|
| Investment managerfees |
|
9,159 |
|
9,159 |
9,375 |
| Charitable activities |
|
|
|
|
|
| Charitable grants |
5 |
85,721 |
|
85,721 |
80,363 |
| Charitable donations |
6 |
1,019 |
|
1,019 |
3,144 |
| Costs relating tofarming |
7 |
1,624,614 |
392,661 |
2,017,275 |
1,639,586 |
| TOTAL EXPENDITURE |
|
1,720,513 |
392,661 |
2,113,174 |
1,732,468 |
| NET INCOME BEFORE |
|
|
|
|
|
| GAINS/(LOSSES) |
|
485,061 |
(392,661) |
92,400 |
271,847 |
| Netgains on investments |
12 |
|
(161,311) |
(161,311) |
659 |
| **NET INCOME/(EXPENDITURE) ** |
10 |
485,061 |
(553,972) |
(68,911) |
272,506 |
| TRANSFERS BETWEEN |
|
|
|
|
|
| FUNDS |
18 |
(657,085) |
657,085 |
|
|
| OTHER RECOGNISED GAINS |
|
|
|
|
|
| Gains on revaluation offixed |
11 |
|
|
|
|
| assets |
|
|
|
|
815,982 |
| NET MOVEMENT IN FUNDS |
|
(172,024) |
103,113 |
(68,911) |
1,088,488 |
| RECONCILIATION OF FUNDS |
|
|
|
|
|
| Fund balances broughtforward |
|
|
|
|
|
| at 1 July |
|
2,245,520 |
6,913,084 |
9,158,604 |
8,070,116 |
| Total funds carried forward at |
|
|
|
|
|
| 30 June |
19 |
2,073,496 |
7,016,197 |
9,089,693 |
9,158,604 |
|
|
UNRESTRICTED |
FUNDS |
|
|
General |
Designated |
Total Funds |
Total Funds |
|
Funds |
Funds |
2020 |
2019 |
|
£ |
£ |
£ |
£ |
| INCOME FROM |
|
|
|
|
| Rental income |
90,886 |
|
90,886 |
93,272 |
| Investment income |
199,642 |
|
199,642 |
209,024 |
| Other income |
328 |
|
328 |
122,975 |
| Total income |
290,856 |
|
290,856 |
425,271 |
| EXPENDITURE ON: |
|
|
|
|
| Raising funds |
|
|
|
|
| Investmentmanagementfees |
10,210 |
|
10,210 |
9,675 |
| Charitable activities |
|
|
|
|
| Charitable grants |
55,701 |
|
55,701 |
89,765 |
| Charitable donations |
|
|
|
1,108 |
| Costs relating tofarming |
71,579 |
197,674 |
269,253 |
405,653 |
| TOTAL EXPENDITURE |
137,490 |
197,674 |
335,164 |
506,201 |
| NET INCOME/(EXPENDITURE) |
|
|
|
|
| BEFORE GAINS |
153,366 |
(197,674) |
(44,308) |
(80,930) |
| Investmentgains in the year |
|
(33,118) |
(33,118) |
5,605 |
| NET INCOME/(EXPENDITURE) |
|
|
|
|
| BEFORE TRANSFERS |
153,366 |
(230,792) |
(77,426) |
(75,325) |
| TRANSFERS BETWEEN |
|
|
|
|
| FUNDS |
(45,832) |
45,832 |
|
|
| OTHER RECOGNISED GAINS |
|
|
|
|
| Gains on revaluation offixed |
|
|
|
|
| assets |
|
|
|
|
|
107,534 |
(184,960) |
(77,426) |
(75,325) |
| RECONCILIATION OF FUNDS |
|
|
|
|
| Fund balances broughtforward |
|
|
|
|
| at 1 July |
(1,219,866) |
10,083,360 |
8,863,494 |
8,938,819 |
| Total funds carried forward |
|
|
|
|
| at 30 June |
(1,112,332) |
9,898,400 |
8,786,068 |
8,863,494 |
|
2020 |
2019 |
|
£ |
£ |
| Limestone Downs |
90,886 |
93,272 |
| 26. INVESTMENT INCOME |
|
|
|
2020 |
2019 |
|
£ |
£ |
| UK dividends |
12,803 |
13,546 |
| Dividendsfrom CAlma Bakertrust(NZ) Limited |
179,248 |
179,953 |
| Overseas dividends |
7,324 |
9,222 |
| UK bank interest |
155 |
97 |
| Oversea bank interest |
112 |
6,206 |
|
199,642 |
209,024 |
| 27. OTHER INCOME |
|
|
|
2020 |
2019 |
|
£ |
£ |
| Donations |
328 |
|
| Sale oftransferrabletitles |
|
46,401 |
| Sale ofNZETS NZU's |
|
76,574 |
|
328 |
122,975 |
| 28. CHARITABLE GRANTS |
|
|
|
2020 |
2019 |
|
£ |
£ |
| For the furtherance of the science of agriculture |
|
|
| C. Alma Baker Fellowship |
|
|
| EastofEngland Agricultural Society |
1,200 |
1,000 |
| Research awards |
28,900 |
32,112 |
|
30,100 |
33,112 |
| For the advancement of education |
|
|
| Postgraduate scholarships |
15,148 |
33,682 |
| UK Students' travel to NewZealand |
4,684 |
5,644 |
| Maori education grant |
2,525 |
|
| Fellowship |
(7,574) |
7,773 |
| Charitable awards |
439 |
|
|
15,222 |
47,099 |
| Related salaries and wages |
|
|
| Support costs |
10,379 |
9,554 |
| Total |
55,701 |
89,765 |
|
2020 |
2019 |
|
£ |
£ |
| Donations payable |
|
|
| Oxfam |
|
290 |
| ZANE |
|
200 |
| Whirlow Hall FarmTrust |
|
500 |
| Support costs |
|
118 |
|
|
1,108 |
|
2020 |
2019 |
|
£ |
£ |
| Depreciation onfreehold buildings andfarm development |
212,337 |
216,886 |
| Loss on disposal offixed assets |
|
3,679 |
| Extension Activities |
|
1,148 |
| Foreign exchange (gain)/loss |
(37,689) |
69,884 |
| Loan interestpaid |
44,433 |
69,542 |
| Farm operating costs |
|
1,500 |
| Support costs (note 30) |
50,172 |
43,014 |
|
269,253 |
405,653 |
| 1. SUPPORT COSTS |
|
|
|
2020 |
2019 |
|
£ |
£ |
| Trustees' expenses |
15,482 |
19,286 |
| Administrationfees and other costs |
18,073 |
10,941 |
| Bank charges |
156 |
243 |
| Printing and stationery |
|
113 |
| Governance costs- auditors' fees (see note 32) |
28,743 |
23,132 |
|
62,454 |
53,715 |