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2021-12-31-accounts

			Pages
Trustees'	annual report		1 to 4
Independent examiner's report to the trustees
Statement	of financial	activities
Statement	of financial	position
Notes to the financial		statements	&to 15

31 Decem	be	r 2021.	r 2021.
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				A A White
				J M Beskeen
				C M Clark
				C S Nicholl (Miss)
				J D Ward
				GJ Mortimer
				EJ Heard
				R Cheriton (Mrs)
				J King
				D-Brassington
				WJCrooke
Independent		examiner		N Smy ACA
				Westcotts
				Chartered Accountants
				Queens House
				New Street
				Honiton
				Devon, EX141BJ
Bankers				National Westminster			Bank pic
				18St Thomas Centre
				Cowick Street
				Exeter
				Devon, EX1 1DE
Investment		managers		Charles Stanley &Co			CCLA
				Broadwalk House			Senator House
				Southernhay West			85Queen Victoria Street
				Exeter			London
				Devon, EX1 1TS			EC4V 4ET
Solicitors				Gilbert Stephens	LLP
				Manor House
				North Street
				Crediton
				Devon, EX172BR

Year ende	d 31 Dece	mb	er	2021
						2021		2020
						Unrestricted
						funds	Total funds	Total funds
					Note	2	2
Income and endowments
Investment	income				4	36,140	36,140	35,010
Total income						36,140	36,140	35,010
Expenditure
Expenditure	on raising funds:
Investment management			costs		5	10,490	10,490	5,923
Expenditure	on charitable	activities			6	11,339	11,339	9,476
Total expenditure						21,829	21,829	15,399
Net gains on investments					9	77,078	77,078	5,959
Net income	and net movement			in funds		91,389	91,389	25,570
Reconciliation offunds
Total funds	brought forward					1,502,592	1,502,592	1,477,022
Total funds	carried forward					1,593,981	1,593,981	1,502,592

31 December	20	21
					2021	2020
				Note	f
Fixed assets
Investments				13	1,563,418	1,460,115
Current assets
Debtors				14	6,491	5,900
Cash at bank and	in	hand			35,884	45,132
					42,375	51,032
Creditors: amounts		falling	due within one year	15	(11,812)	(8,555)
Net current assets					30,563	42,477
Total assets less	current		liabilities		1,593,981	1,502,592
Net assets					1,593,981	1,502,592
Funds ofthe charity
Unrestricted funds					1,593,981	1,502,592
Total charity funds				16	1,593,981	1,502,592

				Unrestricted	Total Funds	Unrestricted	Total Funds
				Funds	2021	Funds	2020
Income	from	investment	properties	21,920	21,920	20,870	20,870
Income	from	listed investments		5,089	5,089	5,335	5,335
Bank interest		receivable		4	4	24	24
Investment interest				9,127	9,127	8,781	8,781
				36,140	36,140	35,010	35,010
Income	from	investment	properties
				Unrestricted	Total Funds	Unrestricted	Total Funds
				Funds	2021	Funds	2020
10Meadow Gardens				6,600	6,600	2,110	2,110
19Gree	nway			5,720	5,720	6,760	6,760
7Waresfoot Drive				6,240	6,240	6,240	6,240
12Waresfoot		Drive		3,360	3,360	5,760	5,760
				21,920	21,920	20,870	20,870

				Unrestricted	Total Funds	Unrestricted	Total Funds
				Funds	2021	Funds	2020
					8
Investment		managers'	fees	4,002	4,002	3,797	3,797
Property	management		fees	1,882	1,882
Repairs	to	properties	and insurance	4,606	4,606	2,126	2,126
				10,490	10,490	5,923	5,923

		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
			2	2	2
Grants		6,000	6,000	4,000	4,000
Support costs		5,339	5,339	5,476	5,476
		11,339	11,339	9,476	9,476
Analysis	of grants
				2021	2020
				2
Grants to	institutions
Age Concern Crediton				5,000	1,000
Yeoford Church					1,000
				5,000	2,000
Grants to	individuals
Mr N Beighton					1,000
Mrs A Jerman					1,000
L Leyman				1,000
				6,000	4,000

	Analysis of	governance	governance	costs
						Unrestricted		Total Funds	Unrestricted	Total Funds
							Funds	2021	Funds	2020
	Clerk to the Trustees						1,250	1,250	1,250	1,250
	Insurance						754	754	738	738
	Meeting room		and the facilities				500	500	500	500
	Independent	examination					1,380	1,380	1,314	1,314
	Accountancy						1,380	1,380	1,674	1,674
	Sundry expenses						75	75
							5,339	5,339	5,476	5,476
9.	Net gains on		investments
						Unrestricted		Total Funds	Unrestricted	Total Funds
							Funds	2021	Funds	2020
	Gains/(losses)		on listed investments				77,078	77,078	5,959	5,959
10.	Independent		examination	fees
									2021	2020
	Fees payable		to the independent		examiner		for:
	Independent	examination		ofthe	financial	statements			1,380	1,314

Investments
	Cash or cash	Listed	Investment	Other
	equivalents	investments	properties	investments	Total
		F
Cost or valuation
At 1 January 2021	20,875	305,025	800,000	334,215	1,460,115
Additions	96,022	25,000		103,319	224,341
Disposals	(107,216)			(90,900)	(198,116)
Other movements		44,411		32,667	77,078
At 31 December 2021	9,681	374,436	800,000	379,301	1,563,418
All investments shown	above are held at	valuation.
Listed investments
Historical cost as at
31 December 2021	9,681	272,773	778,505	310,166	1,371,125

			2
CCLA investments			374,436
Investment	properties
		2021	2020
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
			2021	2020
				2
	Other debtors		6,491	5,900
15.	Creditors: amounts	falling due within one year
			2021	2020
				2
	Accruals and deferred	income	2,760	2,628
	Other creditors		9,052	5,927
			11,812	8,555

Unrestricted funds
	At				At
	1 January			Gains and 31 December
	2021	Income	Expenditure	losses	2021
		2
General funds	1,502,592	36,140	(21,829)	77,078	1,593,981
	At				At
	1 January			Gains and 31 December
	2020	Income	Expenditure f	losses	2020 2
Generalfunds	1,477,022	35,010	(15,399)	5,959	1,502,592

Analysis of net as	sets between funds
		Unrestricted	Total Funds
		Funds	2021
		2	2
Investments		1,563,418	1,563,418
Current assets		42,375	42,375
Creditors less than	1 year	(11,812)	(11,812)
Net assets		1,593,981	1,593,981
		Unrestricted	Total Funds
		Funds	2020
			2
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