2021-03-31-accounts - The Harpenden Trust

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uring the	year and their va	year and their va	rious teams:
Care Fund	Committee		Chairman: Nick Luckett
			Gill Parkes (Secretary), Lynn Kennedy, Sally Arbuthnott,	Diana	Brimblecombe,		Sue
			Daglish (until 31December 2020), Rosemary Farmer, John Goodson, Judy Halsey,
			Di McCurley, Alison Neville, Richard Nichols, Cheryl Noakes (until 31December
			2020), Julia Pryor, Joy Reynolds, Val Salkeld, Michael Snowden		and Sarah Holmes.
Home Visits Team			Leader: Nick Luckett; Treasurer: Jim McGown; Secretary:	Catherine Edwards and
			the team ofsix home visitors.
Christmas	Appeal	Team	Leader: Lynn Kennedy; Team members: James Johnson,	Joss McGregor and		Sarah
			Jane Cooley
			Area Organisers: Selena Greaney, Andrew Waldrum, Janet Blanchard, Sarah
			Vickers, Phil Murray, Joss McGregor, Lin Cotton, Sarah Jane Cooley, Graham
			Westwell, Ken Scott, Christine Darby, Christine Walden,	Maria	O'Loughlin,	Karen
			Blackwell, Steve Maynard, Jenny Wiles.
People			Director: Pat Ring; James Johnson (volunteer manager),	lain Pritchard (Workplace
			administrator) and Lucinda Tonathy (training officer).
Youth &Schools Team			Leader: Joy Reynolds.
Utilities Team			Leader: Michael Snowden and his team ofvolunteers
Christmas	Parcels	Team	Leader: Di McCurley and her team ofvolunteers.
Offic Administration			Leader Val Salkeld and her team ofvolunteers.
Team
Coffee Mornings		Team	Leader: Judy Halsey and her team ofvolunteers
Befriending Team			Leader: Sally Arbuthnott and her team of70volunteers;
Senior Outings Team			Joint Leaders: Cheryl Noakes, Sue Daglish (until 31December		2020),Joy Reynolds
			(from 31December 2020)

Richard Nichols	Chairman
Dennis Andrews	Chairman	ofProperty Committee
Roona Ellis	Chairman	ofthe Investment		Committee	and the	Audit &Governance	Committee
John FGoodson	Finance Director and Member ofthe Investment					Committee
Nick Luckett	Care Fund	chairman
Lynn Kennedy	Christmas	Appeal Director
Pat Ring	People Director
Nigel Pritchard	Company	Secretary
ose serving for part ofthe year were:
Steve Pryor	Appointed	11November	2020
Rodger Livesey	Resigned	11November	2020
Norman Hoare	Resigned	11November	2020
Jan Seager	Resigned	11November	2020

											2020
								Unrestricted	Restricted
							Notes	funds	Funds	Total	Total
								f	f	f	f
Income from:
Donations								19,453		19,453	10,298
Legacies								72		72	103,259
Christmas Appeal and	Gift Aid							65,291		65,291	55,123
Charitable activities:
Hall hire, including	grants							29,278		29,278	47,787
Investment Income								118,408	10,439	128,847	156,662
Funds transferred from Harpenden					Seniors Forum			3,807		3,807
Other income								18,977		18,977
Total income								255,286	10,439	265,725	373,129
Expenditure on:
Raising funds:
Christmas Appeal	and	other income						6,487		6,487	2,724
Investment management			and review fees					21,280	1,879	23,159	19,009
Charitable activities:
Grants payable								106,962		106,962	185,472
Expenditure on charitable				activities				35,346		35,346	20,123
Direct costs —Hall	hire							30,910		30,910	44,644
Support costs								26,926		26,926	38,389
Total expenditure								227,911	1,879	229,790	310,361
Net income before gains	on investments							27,375	8,560	35,935	62,768
Net gains/(losses) on investments:
Realised gains on sale	ofinvestments						13	136,031	12,030	148,061	37,561
Unrealised gains/(losses)		on revaluation				ofinvestments	13	1,214,228	107,383	1,321,611	(489,601)
								1,350,259	119,413	1,469,672	(452,O4O)
Net income/expenditure	for	year		before transfers				1,377,634	127,973	1,505,607	(389,272)
Transfer between funds								8,560	(8,560)
Net movement in funds for year			- carried forward					1,386,194	119,413	1,505,607	(389,272)

					2021			2020
				Unrestricted	Restricted
			~Ntes	funds		funds	Total	Total
				E		E	E	E
Net movement	in funds for year - brought forward			1,386,194		119,413	1,505,607	(389,272)
Movements in	year
Funding movement			16	1,350,331		119,413	1,469,744	(348,781)
Income and	Expenditure	movement	16	35,863			35,863	(40,491)
Reconciliation	of Funds			1,386,194		119,413	1,505,607	(389,272)
Funds brought forward		at 1st April 2020
Funding			16	4,707,472		414,572	5,122,044	5,470,825
Income	and Expenditure		16	36,208		7,683	43,891	84,382
				4,743,680		422,255	5,165,935	5,555,207
Balance at 31st March		2021
Funding			16	6,057,803		533,985	6,591,788	5,122,044
Income	and Expenditure		16	72,071		7,683	79,754	43,891
				E 6,129,874	E	541,668	E 6,671,542	E 5,165,935

									2021			2020
								Unrestricted		Restricted
							Notes	funds		funds	Total	Total
								f		f	f	f
Fixed assets
Tangible	assets						12	16,739			16,739	20,567
Investments							13	5,961,613		527,225	6,488,838	5,041,828
Total fixed assets								5,978,352		527,225	6,505,577	5,062,395
Current assets
Debtors							14	952		81	1,033	3,914
Cash, Treasury			deposits			and bank balances		164,305		14,870	179,175	116,585
								165,257		14,951	180,208	120,499
Liabilities:
Creditors:	amounts			falling due in one year			15	(13,735)		(508)	(14,243)	(16,959)
Net current	assets							151,522		14,443	165,965	103,540
Total assets	less	current			liabilities
and Total net assets								f 6,129,874	f	541,668 f 6,671,542		f 5,165,935
Funds
Funding	with	investments				at cost	16	4,372,787		415,095	4,787,882	4,569,154
Revaluation		reserve					16/17	1,685,016		118,890	1,803,906	552,890
Total Funding							16	6,057,803		533,985	6,591,788	5,122,044
Income	and	Expenditure					16	72,071		7,683	79,754	43,891
Total funds								f 6,129,874	f	541,668 f 6,671,542		f 5,165,935

				2021		2020
				E		f
RECONCILIATION OF NET	INCOME/(EXPENDITURE)
TO NET CASH FLOW FROM OPERATING ACTIVITIES
Net income/(expenditure)	for the year (page 20)			1,505,607		(389,272)
Adjustments for:
Net losses/(gains) on investments			(1,469,672)			452,040
Depreciation charge				3,828		3,828
Investment income				(128,847)		(156,662)
Decrease/(Increase) in	debtors			2,881		6,129
(Decrease) in creditors				(2,716)		(3,509)
Net cash (absorbed) in operating activities				(88,919)		(87,446)
CASH FLOWS FROM INVESTING ACTIVITIES
Investment income				128,847		156,662
Purchases ofinvestments			(1,248,736)		(1,060,959)
Sales ofinvestments				1,208,573		1,085,773
Net cash generated by investing activities				88,684		181,476
Change in cash and cash	equivalents	in the
reporting period				(235)		94,030
Cash and cash equivalents	at 31st March 2020			292,445		198,415
Cash and cash equivalents	at 31st March 2021:
Cash at bank and with	investment	adviser	E	292,210	E	292,445
Comprising:
Cash at bank (page 22)				179,175		116,585
Cash held in investment	portfolio	(page 29, note 13)		113,035		175,860
			E	292,210	E	292,445

Christmas Appeal and	other in	c	ome
							2021					2020
					Unrestricted		~Restri ted
						Funds		Funds		Total		Total
						f		f		f		f
Christmas Appeal,	including		Gift Aid			64,678				64,678		54,646
Gift Aid, recovered	on other		donations			613				613		477
					E	65,291	E	-	E	65,291	E	55,123
No restricted fund	income was received			in 2020.
Investment income
							2021					2020
					Unrestricted		Restricted
						Funds		Funds		Total		Total
						f		f		f		f
UK listed equity investments						72,256		6,390		78,646		92,463
UK fixed and variable interest stocks						18,541		1,640		20,181		20,378
Overseas listed equity investments						21,931		1,939		23,870		37,396
Overseas fixed and	variable	interest stocks				5,311		470		5,781		5,781
Brokers Interest												230
						118,039		10,439		128,478		156,248
Bank interest						369				369		414
					E	118,408	f	10,439	E	128,847	E	156,662
Restricted Fund income ofE12,844 is included					in the total income	off156,662 in		2020.
Grants payable
							2021					f020
					Unrestricted		Restricted
						Funds		Funds		Total		Total
						f		f		f		f
Payable to individuals:
Grants (475 recipients)						22,218				22,218		41,512
Utilities grants (79	recipients)					22,771				22,771		22,595
Christmas parcels (140recipients)						2,340				2,340		2,561
Youth grants (4 recipients)						1,486				1,486		9,920
Total grants to individuals						48,815				48,815		76,588
Donations to organisations		(note 6)				58,147				58,147		108,884
					f	106,962			f	106,962	E	185,472

ations to organisations (note	5)
				2021			2020
		Unrestricted		Restricted
			Funds	Funds		Total
			f	f		f
The following single donations	were made:
Batford Memorial Hall							5,480
Batford Springs Volunteer							7,400
Crabtree Schools PTA							10,000
1st Harpenden (Methodist)	Scout Group						8,000
Friends ofSauncey Wood							9,700
Friends ofRoundwood Primary School			12,995			12,995
Harpenden Rovers Youth Football Club			3,195			3,195	4,000
Harpenden MENCAP							4,369
Harpenden Swimming Club			3,000			3,000
High Beeches School			10,000			10,000	4,000
Highfield Preschool PTA			5,000			5,000
Hornbeam Wood Hedgehog	Sanctuary		4,150			4,150
Kitchen Front							5,590
Lea School Association			12,000			12,000	7,800
Pop-up Pottery							3,858
St Nicholas Primary School	PTA		918			918	10,000
United Reform Church, Harpenden							10,000
Other organisations: under f3,000 each			6,889			6,889	18,687
		E	58,147		E	58,147	E 108,884

						2II21				2020
				Unrestricted		Restricted
					Furlds	Funds		Total		Total
					f	f		f		f
Coffee mornings					79			79		260
Lunch transport										823
Children's Outing (54 recipients)					2,287			2,287		3,243
Coach outings S.tea party costs (115recipients)					2,621			2,621		3,529
Furniture services (34recipients)					9,862			9,862		10,804
Wheelchairs	(12recipients)				223			223		250
Vaccination	Centre				9,965			9,965
'Harpenden	Cares'				10,309			10,309		1,214
				E	35,346	E	E	35,346	E	20,123
There was	no restricted	fund expenditure	on charitable	activities	in 2020.

						2021				2020
				Unrestricted		Restricted
					Funds	Funds		Total		Total
					f	f		f.		f
Trust	Centre	costs and maintenance			27,082			27,082		40,816
Trust	Centre	depreciation	(note 12)		3,828			3,828		3,828
				f	30,910		f	30,910	f	44,644

Investments
			~un estricted		Restricted
			Funds		Funds	Total
			E		E	E
Movement
Market value	at 1st April 2020		4,632,174		409,654	5,041,828
Management	fees paid		(20,820)		(1,842)	(22,662)
Realised gains	on investments		136,031		12,030	148,061
Unrealised gains on revaluation		of investments	1,214,228		107,383	1,321,611
Market value	at 31st March 2021		E 5,961,613	E	527,225	E 6,488,838

							2021				2020
					Unrestricted		Restricted
					Funds		Funds		Total		Total
					E		E		E		E
Market value
UK listed	equity investments				1,897,740		167,830		2,065,570		2,113,314
UK fixed	interest government		stocks		165,023		14,594		179,617		361,838
UK variable		interest company	bonds		306,051		27,066		333117		369,077
UK Property		and Infrastructure	funds		393,937		34,838		428,775		362,325
Overseas	listed equity investments				2,972,405		262,869		3,235,274		1,641,164
Overseas	variable interest company			bonds	122,607		10,843		133,450		18,250
Cash					103,850		9,185		113,035		175,860
Total investments					5,961,613	E	527,225	E	6,488,838	E	5,041,828
ebtors
						2021					2020
					Unrestricted		Restricted
					Funds		Funds		T~ot I		Total
					E		E		E		E
Taxation	recoverable				30				30
Dividends	receivable				922		81		1,003		3,051
Prepayment											857
					952	E	81	E	1,033	E	3,914

editors:	amounts falling due within on	e year
			2021				2020
		Unrestricted	Restricted
		Funds	Funds		Total		Total
		E	E		E		E
Expense	accruals	13,735	508	E	14,243	E	16,959

			THE HARPENDEN	THE HARPENDEN	TRUST
NOTES FORMING		PART OF THE	FINANCIAL STATEMENTS FOR THE			YEAR ENDED	31STMARCH 2021
			(continued)
16.Funds
						Unrestricted	Restricted
			Co~munity		Care	Total	Gibbons	Total
			Fund		Fund	Funds	Fund	Funds
			E		E	E		E
Fund balances at 1st April 2020
Funding
Funding with investments		at cost	2,928,615	1,243,210		4,171,825	397,329	4,569,154
Revaluation reserve			577,538		(41,891)	535,647	17,243	552,890
Total Funding			3,506,153	1,201,319		4,707,472	414,572	5,122,044
Income and Ex enditure
Surplus/(Deficit)			165,273		(129,065)	36,208	7,683	43,891
Total Funds brought forward		(page 21)	3,671,426	1,072,254		4,743,680	422,255	5,165,935
Movements in year
~Fundin
Legacies					72	72		72
Realised investment gains			107,172		28,859	136,031	12,030	148,061
Transfer: Realised gains			51,099		13,760	64,859	5,736	70,595
Total Funding with investments at cost			158,271		42,691	200,962	17,766	218,728
Unrealised investment	gains		956,634		257,594	1,214,228	107,383	1,321,611
Transfer: Realised gains			(51,099)		(13,760)	(64,859)	(5,736)	(70,595)
Total Funding Revaluation		Reserve	905,535		243,834	1,149,369	101,647	1,251,016
TotalFunding			1,063,806		286,525	1,350,331	119,413	1,469,744
Income and Ex endIture
Surplus			8,208		27,655	35,863		35,863
Total Funds Movement	in year (page 21)		1,072,014		314,180	1,386,194	119,413	1,505,607
Funds balances at 31st March 2021
F~undin
Funding with investments		at cost	3,086,886	1,285,901		4,372,787	415,095	4,787,882
Revaluation reserve			1,483,073		201,943	1,685,016	118,890	1,803,906
Total Funding			4,569,959	1,487,844		6,057,803	533,985	6,591,788
Income and E enditure
Surplus/(Deficit)			173,481		(101,410)	72,071	7,683	79)754
Total Funds carried forward		(page 21)	E 4,743,440 E 1,386,434			E 6,129,874	541,668	E 6,671,542

							E
At 1st April	2020						552,890
Unrealised	investment		revaluation	gains for year (note 13)			1,321,611
Release of	reserve	in respect of realised investment			gains
ofthe year (note		16)					(70,595)
							1,251,016
At 31st March 2021(see note 16)						E	1,803,906