| Pages | |||
|---|---|---|---|
| Trustees' | annual report |
1 to4 | |
| Independent examiner's report to the trustees |
|||
| Statement | offinancial | activities | |
| Statement | offinancial | position | |
| Notes to the financial | statements | sto15 |
| The trustees present 31 December 2020. |
The trustees present 31 December 2020. |
The trustees present 31 December 2020. |
their report | and the unaudited | financial statements | financial statements | financial statements | ofthe charity forthe year ended |
|---|---|---|---|---|---|---|---|---|
| Reference | and administrative | details | ||||||
| Governing | documents | Will ofJohn Alan | Kelly dated 21 | December 1994 | ||||
| (died 13March 1995) | ||||||||
| Charity Commission | Scheme dated | 4 March 2019 | ||||||
| Registered | charity | name | Kelly Trust (Crediton) | |||||
| Charity registration | number | 1116644 | ||||||
| Principal office | Boniface Centre | |||||||
| Church Lane | ||||||||
| Crediton | ||||||||
| EX172AH | ||||||||
| The trustees | AA White | |||||||
| J M Beskeen | ||||||||
| C M Clark | ||||||||
| CS Nicholl (Miss) | ||||||||
| J D Ward | ||||||||
| WS Lee | (Resigned 31 December 2020) | |||||||
| G J Mortimer | ||||||||
| EJ Heard | ||||||||
| R Cheriton (Mrs) |
||||||||
| J King | ||||||||
| D Brassington | ||||||||
| WJ Crooke | ||||||||
| Independent | examiner | Nick Smy ACA | ||||||
| Thomas Westcott | ||||||||
| Chartered Accountants |
||||||||
| Queens House | ||||||||
| New Street | ||||||||
| Honiton | ||||||||
| Devon, EX141BJ | ||||||||
| Bankers | National Westminster |
Bank pic | ||||||
| 18StThomas Centre | ||||||||
| Cowick Street | ||||||||
| Exeter | ||||||||
| Devon, EX1 1DE | ||||||||
| Investment | managers | Charles Stanley &Co | Ltd | CCLA | ||||
| Broadwalk House |
Senator House | |||||||
| Southernhay West |
85 | Queen Victoria Street | ||||||
| Exeter | London | |||||||
| Devon, EX1 1TS | EC4V4ET | |||||||
| Solicitors | Gilbert Stephens | LLP | ||||||
| Manor House | ||||||||
| North Street | ||||||||
| Crediton | ||||||||
| Devon, EX172BR |
| Year ended 31 Decemb | er | 2020 | ||||
|---|---|---|---|---|---|---|
| 2020 | 2019 | |||||
| Unrestricted | ||||||
| funds | Total funds | Total funds | ||||
| Note | 6 | 6 | ||||
| Income and endowments | ||||||
| Investment income |
4 | 35,010 | 35,010 | 35,927 | ||
| Total income | 35,010 | 35,010 | 35,927 | |||
| Expenditure | ||||||
| Expenditure on raising funds: |
||||||
| Investment management costs Expenditure on charitable activities |
5 6 |
(5,923) (9,476) |
(5,923) (9,476) |
(6,067) (66,696) |
||
| Total expenditure | (15,399) | (15,399) | (74,763) | |||
| Net gains/(losses) on investments |
9 | 5,959 | 5,959 | 116,459 | ||
| Net income and net movement | in funds | 25,570 | 25,570 | 77,623 | ||
| Reconciliation offunds |
||||||
| Total funds brought forward |
1,477,022 | 1,477,022 | 1,399,399 | |||
| Total funds carried forward | 1,502,592 | 1,502,592 | 1,477,022 |
| 31 December 20 | 20 | ||||
|---|---|---|---|---|---|
| 2020 | 2019 | ||||
| Note | 5 | ||||
| Fixed assets | |||||
| Investments | 13 | 1,460,115 | 1,452,541 | ||
| Current assets | |||||
| Debtors | 14 | 5,900 | 6,350 | ||
| Cash at bank and in | hand | 45,132 | 26,674 | ||
| 51,032 | 33,024 | ||||
| Creditors: amounts | falling | due within one year | 15 | (8,555) | (8,543) |
| Net current assets | 42,477 | 24,481 | |||
| Total assets less current | liabilities | 1,502,592 | 1,477,022 | ||
| Net assets | 1,502,592 | 1,477,022 | |||
| Funds ofthe charity | |||||
| Unrestricted funds |
1,502,592 | 1,477,022 | |||
| Total charity funds | 16 | 1,502,592 | 1,477,022 |
| Investment |
income | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Total | Funds | Unrestricted | Total Funds | |||
| Funds | 2020 | Funds | 2019 | ||||
| Income from | investment | properties | 20,870 | 20,870 | 19,080 | 19,080 | |
| Income from | listed investments | 5,335 | 5,335 | 7,618 | 7,618 | ||
| Bank interest | receivable | 24 | 24 | 54 | 54 | ||
| Investment interest |
8,781 | 8,781 | 9,175 | 9,175 | |||
| 35,010 | 35,010 | 35,927 | 35,927 | ||||
| Income from | investment | properties | |||||
| Unrestricted | Total | Funds | Unrestricted | Total Funds | |||
| Funds 6 |
2020 | Fundsf | 2019 | ||||
| 10Meadow Gardens 19Greenway 7Waresfoot Drive |
2,110 6,760 6,240 |
2,110 6,760 6,240 |
6,240 4,160 2,920 |
6,240 4,160 2,920 |
|||
| 12Waresfoot | Drive | 5,760 | 5,760 | 5,760 | 5,760 | ||
| 20,870 | 20,870 | 19,080 | 19,080 |
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Funds | 2020 | Funds | 2019 | ||||||
| E | 6 | ||||||||
| Investment managers' |
fees | 3,797 | 3,797 | 3,134 | 3,134 | ||||
| Repairs | to properties | and insurance | 2,126 | 2,126 | 4,933 | 4,933 | |||
| 5,923 | 5,923 | 8,067 | 8,067 | ||||||
| Expenditure | on charitable | activities | |||||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||||
| Funds | 2020 | Funds | 2019 | ||||||
| F | 6 | 6 | |||||||
| Grants | 4,000 | 4,000 | 61,600 | 61,600 | |||||
| Support | costs | 5,476 | 5,476 | 5,096 | 5,096 | ||||
| 9,476 | 9,476 | 66,696 | 66,696 | ||||||
| Analysis | ofgrants | ||||||||
| 2020 | 2019 | ||||||||
| 6 | 6 | ||||||||
| Grants to institutions | |||||||||
| Age Concern | Crediton | 1,000 | 6,500 | ||||||
| Yeoford | Church | 1,000 | |||||||
| Crediton | Church Campaign | (RoofAppeal) | 50,000 | ||||||
| Crediton | Methodist | Church | 2,500 | ||||||
| MS Society | 500 | ||||||||
| Crediton | Foodbank | 100 | |||||||
| 2,000 | 59,600 | ||||||||
| Grants to individuals | |||||||||
| Mr N Beighton | 1,000 | ||||||||
| Mrs A Jerman | 1,000 | ||||||||
| Mrs KCoates | 2,000 | ||||||||
| 4,000 | 61,600 |
| Analysis of | governance costs |
||||
|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds 6 |
2020 6 |
Funds F |
2019 f |
||
| Clerk to the | Trustees | 1,250 | 1,250 | 1,250 | 1,250 |
| Insurance | 738 | 738 | 746 | 746 | |
| Meeting room and the facilities |
500 | 500 | 500 | 500 | |
| Independent | examination | 1,314 | 1,314 | 1,275 | 1,275 |
| Accountancy | 1,674 | 1,674 | 1,275 | 1,275 | |
| Sundry expenses | 50 | 50 | |||
| 5,476 | 5,476 | 5,096 | 5,096 |
| Net gains on | investments | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Total | Funds | Unrestricted | Total Funds | |||||||
| Funds | 2020 | Funds | 2019 | ||||||||
| F | |||||||||||
| Gains/(losses) | on investment | property | 30,000 | 30,000 | |||||||
| Gains/(losses) | on listed investments | 5,959 | 5,959 | 86,459 | 86,459 | ||||||
| 5,959 | 5,959 | 116,459 | 116,459 | ||||||||
| Independent | examination | fees | |||||||||
| 2020 | 2019 | ||||||||||
| F | 6 | ||||||||||
| Fees payable | to the independent | examiner for: | |||||||||
| Independent | examination | of | the financial | statements | 1,314 | 1,275 | |||||
| Staff costs | |||||||||||
| The total staff | costs and employee | benefits for | the reporting | period are | analysed as | follows: | |||||
| 2020 | 2019 | ||||||||||
| 6 | F | ||||||||||
| Wages and salaries | 1,250 | 1,250 |
| Investments | |||||
|---|---|---|---|---|---|
| Cash or cash | Listed | Investment | Other | ||
| equivalents | investments | properties | investments | Total | |
| F | F | 6 | |||
| Cost or valuation | |||||
| At 1 January 2020 | 18,886 | 286,689 | 800,000 | 346,966 | 1,452,541 |
| Additions | 101,994 | 96,335 | 198,329 | ||
| Disposals | (100,005) | (96,709) | (196,714) | ||
| Other movements | 18,336 | (12,377) | 5,959 | ||
| At 31 December 2020 | 20,875 | 305,025 | 800,000 | 334,215 | 1,460,115 |
| All investments shown |
above are held at | valuation. | |||
| Listed investments | |||||
| Historical cost as at | |||||
| 31 December 2020 | 20,875 | 247,773 | 778,505 | 287,856 | 1,335,009 |
| COLA investments | COLA investments | 305,025 | |
|---|---|---|---|
| Investment | properties | ||
| 2020 | 2019 | ||
| F | |||
| 10Meadow Gardens | 190,000 | 190,000 | |
| 19Greenway | 190,000 | 190,000 | |
| 7Waresfoot | Drive | 200,000 | 200,000 |
| 12Waresfoot | Drive | 220,000 | 220,000 |
| 800,000 | 800,000 |
| 14. | Debtors | |||
|---|---|---|---|---|
| 2020 | 2019 | |||
| 8 | F | |||
| Other debtors | 5,900 | 6,350 | ||
| 15. | Creditors: amounts | falling due within one year | ||
| 2020 | 2019 | |||
| F | ||||
| Accruals and deferred | income | 2,628 | 2,550 | |
| Other creditors | 5,927 | 5,993 | ||
| 8,555 | 8,543 |
| Unrestri | cted funds |
|||||
|---|---|---|---|---|---|---|
| At | At | |||||
| 1 January | Gains and 31 December | |||||
| 2020 | Income | Expenditure | losses | 2020 | ||
| 5 | 5 | F | F | |||
| General | funds | 1,477,022 | 35,010 | (15,399) | 5,959 | 1,502,592 |
| At | At | |||||
| 1 January | Gains and 31 December | |||||
| 2019 | Income | Expenditure | losses | 2019 | ||
| F | F | F | ||||
| General | funds | 1,399,399 | 35,927 | (74,763) | 116,459 | 1,477,022 |
| Analysis ofnet as | sets between funds | ||
|---|---|---|---|
| Unrestdcted | Total Funds | ||
| Funds | 2020 | ||
| F | |||
| Investments | 1,460,115 | 1,460,115 | |
| Current assets | 51,032 | 51,032 | |
| Creditors less than | 1 year | (8,555) | (8,555) |
| Net assets | 1,502,592 | 1,502,592 | |
| Unrestricted | Total Funds | ||
| Funds | 2019 | ||
| 8 | |||
| Investments | 1,452,541 | 1,452,541 | |
| Current assets | 33,024 | 33,024 | |
| Creditors less than | 1 year | (8,543) | (8,543) |
| Net assets | 1,477,022 | 1,477,022 |