##
##
##
|Reference and Administrative|Reference and Administrative|Details||
|---|---|---|---|
|Trustees' Report|||2to5|
|Independent
Auditors'|Repott||6to9|
|Consolidated
Statement ofFinancial Activities|||10|
|Consolidated
Balance|Sheet|||
|Balance Sheet|||12|
|Consolidated
Statement|ofCash Flows||13|
|Statement ofCash Flows|||14|
|Notes to the Financial|Statements||15to 38|
##
||||Reference and|Administrative|Administrative|Administrative|Details|Details|
|---|---|---|---|---|---|---|---|---|
|Secretary|||PJTolhurst||||||
|Principal|Office||Marlborough|House|||||
||||Victoria Road South||||||
||||Chelm sford||||||
||||Essex||||||
||||CM1 1LN||||||
||||The charity is incorporated|||in England||and Wales.|
|Company|Registration|Number|06291022||||||
|Charity Registration||Number|01120656||||||
|Solicitors|||Marlborough|House Paitners LLP|||||
||||Marlborough|House|||||
||||Victoria Road South||||||
||||Chelm sford||||||
||||Essex||||||
||||CM1 ILN||||||
|Bankers|||Lloyds Bank Pic||||||
||||77High Street||||||
||||Southend-on-Sea||||||
||||Essex||||||
||||Ssl 1HT||||||
|Auditor|||Edmund
Can|LLP|||||
||||Chartered
Accountants||&|Statutory|Auditor||
||||146New London Road||||||
||||Chelm sford||||||
||||Essex||||||
||||CM2 OAW||||||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|2020|2019|
|||Note|||||
|Income and Endowments|from:||||||
|Donations
and legacies|||69,473||69,473||
|Other trading activities|||1,260,747||1,260,747|28,979|
|Investment
income|||111,125||111,125|181,304|
|Total income|||1,441,345||1,441,345|210,283|
|Expenditure
on:|||||||
|Raising funds|||1,009,783||1,009,783|8,728|
|Charitable
activities|||221,594||221,594|172,688|
|Other expenditure|||84,911||84,911||
|Total expenditure|||1,316,288||1,316,288|181,416|
|Gains/losses
on investment|assets|||||296,999|
|Net income|||125,057||125,057|325,866|
|Net movement
in funds|||125,057||125,057|325,866|
|Reconciliation
offunds|||||||
|Total funds brought fonvard|||4,212,919||4,212,919|3,887,053|
|Total funds carried fonvard||22|4,337,976||4,337,976|4,212,919|
##
##
||||||2020|2019|
|---|---|---|---|---|---|---|
|||||Note||f.|
|Fixed assets|||||||
|Intangible
assets||||13|764,197||
|Tangible assets||||14|1,127,374|763,440|
|Investments|||||3,620,000|3,950,000|
||||||5,511,571|4,713,440|
|Current
assets|||||||
|Stocks||||16|105,335||
|Debtors||||17|94,997|44,411|
|Cash at bank|and in hand|||18|273,955||
||||||474,287|44,411|
|Creditors: Amounts
Net current liabilities||falling due within|one year|19|(1,206,607)
(732,3203|(104,400)
~59,989)|
|Total assets|less current liabilities||||4,779,251|4,653,451|
|Creditors: Amounts||falling due after|more than one year|20|~(44(,275|~(440,532|
|Net assets|||||4337976|4212919|
|Funds ofthe|group:||||||
|Unrestricted|income|funds|||||
|Unrestricted|funds||||4,337,976|4,212,919|
|Total funds|||||4,337,976|4,212,919|
##
##
|||Balance Sheet as at 31De|cember 2020|||
|---|---|---|---|---|---|
|||||2020|2019|
||||Note|||
|Fixed assets||||||
|Tangible assets|||14|733,289|763,440|
|Investments||||5,035,000|3,950,000|
|||||5,768,289|4,713,440|
|Current
assets||||||
|Debtors|||17|80,962|44,411|
|Cash at bank|and in hand||18|3,895||
|||||84,857|44,411|
|Creditors: Amounts||falling due within one year|19|(880,544)|104,400|
|Net current|liabilities|||(795,687)|(59,989|
|Total assets|less current liabilities|||4,972,602|4,653,451|
|Creditors: Amounts||falling due after more than one year|20|(396,795)|(440,532)|
|Net assets||||4,575,807|4,212,919|
|Funds ofthe|charity:|||||
|Unrestricted|income|funds||||
|Unrestricted|funds|||4,575,807|4,212,919|
|Totalfunds|||22|4,575,807|4,212,919|
##
##
##
|Consolidated
St|a|tement of|Cash Flows|for the|Year End|ed 31December|2020|
|---|---|---|---|---|---|---|---|
|||||||2020|2019|
||||||Note|||
|Cash flows from operating|activities|||||||
|Net income||||||125,057|325,866|
|Adjustments
to cash flows from non-cash|||items|||||
|Depreciation|||||14|95,059|40,183|
|Amortisation|||||14|84,911||
|Investment
income|||||5|(111,125)|(181,304)|
|Revaluation
ofinvestments|||||||(296,999)|
|||||||193,902|(112,254)|
|Working capital adjustments||||||||
|Increase in stocks|||||16|(105,335)||
|(Increase)/decrease
in debtors|||||17|(50,586)|17,374|
|Increase/(decrease)
in creditors|||||19|275,068|(51,257)|
|Increase in deferred income|||||20|206,884||
|Net cash flows flom operating||activities||||519,933|(146,137)|
|Cash flows from investing
activities||||||||
|Interest receivable
and similar||income|||5|111,125|181,304|
|Net ofpayment
on acquisition||ofsubsidiaiy|less subsidiaiy|cash|13|(849,108)||
|Purchase oftangible fixed assets|||||14|(68,925)|(133,370)|
|Net cash flows from investing||activities||||(806,908|47,934|
|Cash flows from financing
activities||||||||
|Value ofnew loans obtained
during the period
Repayment ofloans and borrowings|||||19,20
19,20|850,000
~(242,074|500,000
(16,826)|
|Net cash flows from financing||activities||||607,926|483,174|
|Net increase
in cash and cash|equivalents|||||320,951|384,971|
|Cash and cash equivalents
at|I|January||||(46,996|(431,967)|
|Cash and cash equivalents
at|31December|||||273,955|(46,996)|
##
##
||||||2020|2019|
|---|---|---|---|---|---|---|
|||||Note|||
|Cash flows from operating
activities|||||||
|Net income|||||362,888|325,866|
|Adjustments
to cash flows from non-cash|||items||||
|Depreciation|||||40,711|40,183|
|Investment
income|||||(262,628)|(181,304)|
|Revaluation ofinvestments||||||(296,999)|
||||||140,971|(112,254)|
|Working capital adjustments|||||||
|(Increase)/decrease
in debtors||||17|(36,551)|17,374|
|Increase/(decrease)
in creditors||||19|221,477|(51,257)|
|Net cash flows from operating|activities||||325,897|(146,137)|
|Cash flows from investing
activities|||||||
|Interest receivable
and similar|income||||262,628|181,304|
|Purchase oftangible fixed assets||||14|(10,560)|(133,370)|
|Acquisition
ofinvestments
in|subsidiaiy|undeitakings|||(1,085,000)||
|Net cash flows from investing|activities||||(832,932)|47,934|
|Cash flows from financing
activities|||||||
|Value ofnew loans obtained|during the|period||19,20|800,000|500,000|
|Repayment
ofloans and borrowings||||19,20|(242,074)|(16,826)|
|Net cash flows from financing|activities||||557,926|483,174|
|Net increase in cash and cash|equivalents||||50,891|384,971|
|Cash and cash equivalents
at|1 Januaiy||||46,996)|(431,967)|
|Cash and cash equivalents
at|31December|||18|3,895|(46,996)|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|Asset class|Depreciation
method|and rate|
|---|---|---|
|Freehold
land &buildings|5%straight
line||
|Leasehold
land and buildings|Straight line over the life ofthe lease||
|Furniture
and equipment|20%or 33.3%reducing|balance|
|Motor vehicles|20%reducing
balance||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
||||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|
||||||funds|funds|2020|
||Government||giants - Furlough|income|69,473||69,473|
||||||69,473||69,473|
|4|Income|from other trading||activities||||
||||||||Total|
||||||Unrestricted|Restricted|Total|
||||||funds|funds|2020|
|Trading income;||||||||
||Golfcourse||||843,895||843,895|
||Shop sales||||172,391||172,391|
||Food and|catering sales|||122,112||122,112|
||Adventure|golf|||110,198||110,198|
||Other trading||income||12,151||12,151|
||||||1,260,747||1,260,747|
||||||Unrestricted|Restricted|Total|
||||||funds|funds|2019|
|Adventure||golf|||28,979||28,979|
||||||28,979||28,979|
##
##
##
||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|
||||funds|funds|2020|
|Interest|receivable|and similar income|41||41|
|Income|from rents||111,084||111,084|
||||111,125||111,125|
||||Unrestricted|Restricted|Total|
||||funds|funds|2019|
|Interest|receivable|and similar income|294||294|
|Income|from rents||181,010||181,010|
||||181,304||181,304|
##
##
|a) Costs oft|radin|g
activi|ties|||||
|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total|
||||||funds|funds|2020|
|||||Note||||
|Trading subsidiary||costs|||550,655||550,655|
|Depreciation,|amortisation||and other similar costs||38,714||38,714|
|Staff Costs|||||399,227||399,227|
||||||988,596||988,596|
##
|bl|Investment|Investment|Investment|management|management|management|costs|||||
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||Unrestricted|Restricted|Total|
||||||||||funds|funds|2020|
|||||||||Note||||
||Amounts||payable|||to property|managers||21,187||21,187|
||||||||||21,187||21,187|
||||||||||Unrestricted|Restricted|Total|
||||||||||funds|funds|2019|
|||||||||Note||||
||Amounts||payable|||to property|managers||8,728||8,728|
||||||||||8,728||8,728|
|7|Expenditure||||on charitable||activities|||||
||||||||||Unrestricted|Restricted|Total|
||||||||||funds|funds|2020|
|||||||||Note||||
|Grant funding||||of|activities||||95,300||95,300|
|Allocated||support|||costs||||70,583||70,583|
|Governance|||costs||||||15,000||15,000|
|Depreciation|||and||amortisation||||40,711||40,711|
||||||||||221,594||221,594|
||||||||||Unrestricted|Restricted|Total|
||||||||||funds|funds|2019|
|||||||||Note||||
|Grant funding||||of|activities||||69,205||69,205|
|Allocated||support|||costs||||58,600||58,600|
|Governance|||costs||||||4,700||4,700|
|Depreciation||||and|amo&tisation||||40,183||40,183|
||||||||||172,688||172,688|
##
##
##
##
|||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||funds|funds|2020|
|Repairs||387||387|
|Insurance||4,600||4,600|
|Professional|fees|23,981||23,981|
|Interest payable||41,571||41,571|
|Bank charges||21||21|
|Sundry expenses||23||23|
|||70,583||70,583|
|||Unrestricted|Restricted|Total|
|||funds|funds|2019|
|Repairs||1,005||1,005|
|Insurance||5,529||5,529|
|Professional|fees|12,448||12,448|
|Interest payable||21.,606||21,606|
|Bank charges||8,095||8,095|
|Sundiy expenses||9,917||9,917|
|||58,600||58,600|
|Governance
c|osts|||||
|---|---|---|---|---|---|
|||||Total|Total|
|||||2020|2019|
|Audit fees||||||
|Audit ofthe|financial|statements||9,500||
|Other fees paid to auditors||||5,500||
|Independent
examiner||fees||||
|Examination|ofthe financial||statements||2,700|
|Other fees paid to examiners|||||2,000|
|||||15,000|4,700|
##
##
##
|Below|are details ofmaterial
grants made to institutions
by|the charity.||
|---|---|---|---|
|||2020|2019|
|Name|ofinstitution||f.|
|Essex|County Scout Council|90,000|60,000|
|Essex|Golf Union|4,000|3,500|
|Other|institutions|1,300|2,000|
|||95,300|65,500|
|Net incoming
resources for||the year incl|ude:|||
|---|---|---|---|---|---|
|||||2020|2019|
|Operating
leases - plant and||machineiy||39,142||
|Audit fees and independent||examination|fees|9,500|2,700|
|Other non-audit
services||||5,500|2,000|
|Depreciation offixed assets||||38,714|40,183|
|Amoitisation
ofintangible|assets|||84,911||
##
##
|The aggregate
payr|oll costs were as follows:|||
|---|---|---|---|
|||2020|2019|
||||f.|
|Staff costs during|the year were:|||
|Wages and salaries||361,490||
|Social security costs||32,528||
|Pension costs||5,209||
|||399,227||
##
##
##
##
|Group|||
|---|---|---|
||Goodwill|Total|
||f.||
|Cost|||
|Additions|849,108|849,108|
|At 31December 2020|849,108|849,108|
|Amortisation|||
|Charge for the year|84,911|84,911|
|At 31December 2020|84,911|84,911|
|Net book value|||
|At 31December 2020|764,197|764,197|
##
##
|Group|||||||
|---|---|---|---|---|---|---|
||||Land and|Furniture
and|||
||||buildings|equipment|Motor vehicles|Total|
||||||f.||
|Cost|||||||
|At 1 Januaiy 2020|||803,623|||803,623|
|Additions
on business|combinations||372,116|315,039|5,000|692,155|
|Additions|||10,560|58,365||68,925|
|At 31December 2020|||1,186,299|373,404|5,000|1,564,703|
|Depreciation|||||||
|At 1 Januaiy 2020|||40,183|||40,183|
|Recognised
on business||combinations|107,952|189,714|4,421|302,087|
|Charge for the year|||51,523|43,416|120|95,059|
|At 31December 2020|||199,658|233,130|4,541|437,329|
|Net book value|||||||
|At 31December 2020|||986,641|140,274|459|1,127,374|
|At 31December 2019|||763,440|||763,440|
##
##
|Charity||||||
|---|---|---|---|---|---|
||||Land|and||
||||buildings||Total|
|Cost||||||
|At 1 January 2020|||803,623||803,623|
|Additions||||10,560|10,560|
|At 31December 2020|||814,183||814,183|
|Depreciation||||||
|At I January 2020||||40,183|40,183|
|Charge for the year||||40,711|40,711|
|At 31December 2020||||80,894|80,894|
|Net book value||||||
|At 31December 2020|||733,289||733,289|
|At 31December 2019|||763,440||763,440|
|15 Fixed asset investments||||||
|Group||||||
||||2020||2019|
|Investment
prope&ties|||3,620,000||3,620,000|
|Shares in group undertakings|and participating|interests|||330,000|
||||3,620,000||3,950,000|
##
|Investment
properties||
|---|---|
||Investment|
||propertres|
|Cost or Valuation||
|At 1 January 2020|3,620,000|
|Provision||
|At 31December 2020||
|Net book value||
|At 31 December 2020|3,620,000|
|At 31December 2019|3,620,000|
##
##
|Charity||||||
|---|---|---|---|---|---|
|||||2020|2019|
|Investment
propeities||||3,620,000|3,620,000|
|Shares in group undertakings|and pa&ticipating|interests||1,415,000|330,000|
|||||5,035,000|3,950,000|
|Shares in group undertakings|and participating||interests|||
|||||Subsidiary||
|||||undertakings|Total|
|Cost||||||
|At 1 January 2020||||330,000|330,000|
|Additions||||1,085,000|1,085,000|
|At 31December 2020||||1,415,000|1,415,000|
|Net book value||||||
|At 31December 2020||||1,415,000|1,415,000|
|At 31December 2019||||330,000|330,000|
##
|are as follow|s:|||||||
|---|---|---|---|---|---|---|---|
|||Country|of||Proportion|ofvoting rights|Principal|
|Undertaking||incorporation||Holding|and shares|held|activity|
||||||2020|2019||
|Subsidiary|undertakings|||||||
|Garon Park
Limited|Golf Complex|England|and Wales|Ordinary|100'lo|33 33ol|Golf
course
complex|
##
##
##
##
|16 Stock||||||
|---|---|---|---|---|---|
||Group|||Charity||
||2020|2019|2020f||2019|
|Stocks|105,335|||||
##
|17 Debtors|||||
|---|---|---|---|---|
||Group||Charity||
||2020|2019|2020|2019|
|Trade debtors||4,211||4,211|
|Due from group undeitakings||38,696|79,455|38,696|
|Prepayments|44,508||||
|VAT recoverable|48,986||||
|Other debtors|1,503|1,504|1,507|1,504|
||94,997|44,411|80,962|44,411|
##
##
##
||||Group||Charity||
|---|---|---|---|---|---|---|
||||2020|2019|2020|2019|
||||f.||||
|Cash at bank|||273,955||3,895||
|Bank overdrafls||||(46,996)||(46,996)|
|Cash and cash
ofcash flows|equivalents|in statement|273,955|(46,996)|3,895|(46,996)|
|19 Creditors:|amounts|falling due within one year|||||
||||Group||Charity||
||||2020|2019|2020|2019|
|Bank overdrafts||||46,996||46,996|
|Bank loans|||49,825|42,642|44,305|42,642|
|Trade creditors|||58,387|8,037|10,800|8,037|
|Other loans|||600,000||600,000||
|Other taxation|and social|security|5,204||||
|VAT|||19,439|2,275|19,439|2,275|
|Other creditors|||240,251||190,000||
|Pension scheme creditor|||1,232||||
|Accruals|||25,385|4,450|16,000|4,450|
|Deferred income|||206,884||||
||||1,206,607|104,400|880,544|104,400|
|Credit|ors
due within
one year inclu|des
the following
liabilities
on|which security h|as been given:||
|---|---|---|---|---|---|
|||Group||Charity||
||||2019|2020|2019|
||||f.|||
|Bank|loans||42,643|44,304|42,643|
##
##
##
##
##
##
##
|Charity||||||
|---|---|---|---|---|---|
|Included|in the creditors are the following|amounts|due after more than five years:|||
|||||2020|2019|
|After more than five years by instalments||||101,795|127,256|
##
##
##
|Total future minimum
lease payments|under non-cancellable
opera|ting
leases ar|e as follows:|||
|---|---|---|---|---|---|
||Group|||Charity||
||2020|2019|2020||2019|
|Other||||||
|Within one year|23,608|||||
|Between one and five years|1,833|||||
||25,441|||||
##
|22 Funds|||||||
|---|---|---|---|---|---|---|
|Group||||||Balance at|
|||Balance at 1|||Other|31|
|||January
2020|Incoming
resources|Resources
expended|recognised
gains/(losses)|December
2020|
|Unrestricted|funds||||||
|Unrestricted|funds|4,212,919|1,441,345|~(1,316,288||4,337,976|
|||||||Balance at|
|||Balance at 1|||Other|31|
|||January
2019|Incoming
resources|Resources
expended|recognised
gains/(losses)|December
2019|
|Unrestricted|funds||||||
|Unrestricted|funds|3,887,053|210,283|~(181,416|296,999|4,212,919|
|Charity||||||Balance at|
|||Balance at 1|||Other|31|
|||January
2020|Incoming
resources|Resources
expended|recognised
gains/(losses)|December
2020|
||||||f.||
|Unrestricted|funds||||||
|Unrestricted|funds|4,212,919|597,669|~234,781)||4,575,807|
|||||||Balance at|
|||Balance at 1|||Other|31|
|||January
2019|Incoming
resources|Resources
expended|recognised
gains/(losses)|December
2019|
|Unrestricted|funds||||||
|Unrestricted|funds|3,887,053|210,283|((81,4167|296,999|4,212,919|
##
|Group||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||funds|funds|2020|
|Intangible
fixed assets||764,197||764,197|
|Tangible fixed|assets|1,127,374||1,127,374|
|Fixed asset investments||3,620,000||3,620,000|
|Current assets||474,287||474,287|
|Current liabilities||(1,206,607)||(1,206,607)|
|Creditors over|1year|(441,275||(441,275)|
|Total net assets||4,337,976||4,337,976|
|||Unrestricted|Restricted|Total|
|||funds|funds|2019|
|Tangible fixed|assets|763,440||763,440|
|Fixed asset investments||3,950,000||3,950,000|
|Current assets||44,411||44,411|
|Current
liabilities||(104,400)||(104,400)|
|Creditors over|1 year|(440,532)||(440,532)|
|Total net assets||4,212,919||4,212,919|
##
##
##
##
|Charity||||||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|
||||funds|funds|2020|
|Tangible|fixed|assets|733,289||733,289|
|Fixed asset investments|||5,035,000||5,035,000|
|Current|assets||84,857||84,857|
|Current|liabilities||(880,544)||(880,544)|
|Creditors|over|I year|(396,795)||(396,795)|
|Total net assets|||4,575,807||4,575,807|
||||Unrestricted|Restricted|Total|
||||funds|funds|2019|
|Tangible|fixed|assets|763,440||763,440|
|Fixed asset investments|||3,950,000||3,950,000|
|Current|assets||44,411||44,411|
|Current
Creditors|liabilities
over 1 year||(104,400)
(440,532)||(104,400)
~(440,532|
|Total net assets|||4,212,919||4,212,919|
##
##
|Group||||||
|---|---|---|---|---|---|
||||||At 31|
|||At 1January|Financing
cash|Acquisition
of|December|
|||2020|flows|subsidiaries|2020|
||||f.|||
|Cash at bank and|in hand||3,895|270,060|273,955|
|Bank overdraA||(46,996)|46,996|||
|||(46,996)|50,891|270,060|273,955|
|Debt due within|one year|(42,642)|(601,663)||(644,305)|
|Debt due after more than one year||(440,532)|43,737|(44,480)|(441,275)|
|Net debt||530,170)|(507,035)|225,580|(811,625)|
##
##
|||||At31|
|---|---|---|---|---|
|||At 1January|Financing
cash|December|
|||2019|flows|2019|
|Bank overdraft||(431,967)|384,971|(46,996)|
|Debt due within
one year
Debt due after more than one year|||(42,642)
~440, 532|(42,642)
~(440,532|
|Net debt||(431,967)|(98,203)|(530,170)|
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##
##
##
##