2021-12-31-accounts - Grenville House Outdoor Education Centre

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REGISTERED COMPANY NUMBER: 06679532 (England and Wales) REGISTERED CHARITY NUMBER: 1126509

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

GRENVILLE HOUSE OUTDOOR EDUCATION CENTRE

Barretts

Chartered Accountants & Chartered Tax Advisers

22 Union Street Newton Abbot Devon TQ12 2JS

GRENVILLE HOUSE OUTDOOR EDUCATION CENTRE

CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 December 2021

		Page
Report of the Trustees	1	to	3
Independent Examiner's Report		4
Statement of Financial Activities		5
Balance Sheet	6	to	7
Notes to the Financial Statements	8	to	13
Detailed Statement of Financial Activities	14	to	15

GRENVILLE HOUSE OUTDOOR EDUCATION CENTRE

REPORT OF THE TRUSTEES

for the Year Ended 31 December 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

During 2008, Grenville House Outdoor Education Centre went through the process of becoming a Limited Company as well as a Charity and from 1st January 2009 began to operate under a new scheme. The public benefit of the Charity is achieved by carrying out its Objects, which are as follows:

To promote the education of children and young persons (including without prejudice to the generality of the foregoing education in nautical skills, environmental studies and history): and
To provide in the interest of social welfare facilities for recreational and other leisure time occupation for children and young persons who by reason of their youth or social and economic circumstances are in need of such facilities with the object of improving the conditions of life for such children and young persons, and
To promote the religious and other charitable work of the Church of England in the Diocese of Exeter. We provide the facilities and activities to enable groups, mainly from the South West, but also further afield, to be able to participate in activities and education that may not otherwise be available to them. The Directors have had regard to the guidance given by the Charity Commission on public benefit.

Significant activities

The resumption of residential trips by schools was sanctioned by the D f E in May, although still with COVID related restrictions in place that effectively reduced the Centre's normal capacity by 50%.

Most schools were able to carry out their visits successfully through: -

the conversion of the lounge into another bedroom to provide occupancy levels that met with social distancing guidance.
the splitting of their week into two half-week visits

the spreading of a weekend visit over two weekends.

Some schools moved their bookings to take up cancelled booking slots later in the year or moved them to 2022.

A few schools/groups felt it too soon to resume a residential visit and chose to visit on a non-residential basis if possible, or to cancel their booking.

The vast majority of our clients were extremely supportive and appreciative of the way we managed the disappointment caused by the pandemic, with most choosing to transfer any funds already held in our bank account to their subsequent bookings.

The Government's Furlough scheme and the Charity's assets enabled us to retain the majority of our staff team which resulting in our ability to resume our provision almost seamlessly.

Whilst turnover was significantly impacted, leading to a loss for the second consecutive year, the Charity was still in a healthy financial position. However financial recovery, from the impact of the Pandemic, will probably take at least 5 years if not more.

Public benefit

The trustees are aware of the Charity Commission guidance on Public Benefit and take this into consideration in relation to decisions made about the operation and activities of the charity.

New Developments

The annual investment review took place with respect to maintaining the fabric of the Centre and the activity equipment at the desired high standard. This was able to be kept to absolute essentials due to the reduced levels of usage and wear and tear on both activity equipment and the fabric of the Centre.

Page 1

GRENVILLE HOUSE OUTDOOR EDUCATION CENTRE

REPORT OF THE TRUSTEES

for the Year Ended 31 December 2021

FINANCIAL REVIEW

Financial results and Reserves policy

The Charity holds money in various bank accounts in liquid form as their reserves. These reserve funds are held at a level to cover the working capital requirements of the Charity on an ongoing basis and to provide for future maintenance and repairs. At the end of the financial year, the free reserves were £173,100 compared to £168,941 in the previous year. The Charity's portfolio of stocks and shares are held in order to provide income to enable the Charity to carry out its purposes year by year, and capital growth to provide for future needs. Stockbrokers Quilter have been re- appointed to manage the Charity's investment portfolio. An annual presentation is given by an Executive Director of the company to the Trustees to review the portfolio's performance, and quarterly valuation statements are received which enable the Trustees to see the movement throughout the year. The Trustees have taken a long term view with regard to the investments and continue to have confidence in the way Quilter manage the portfolio. The dividend income fell from £12,686 to £11,856.The value of the portfolio increased by £40,906.. The dividends continue to contribute towards the ongoing expenses of running the Charity. Any shortfall is met from the Charity's liquid assets i.e. cash held in the bank accounts.

The investment property generated £8,105 income net of maintenance, service charges and agent's fees. Its value increased slightly from £317,536 to £353,900 in the year.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Grenville House was originally known as the British Seamen's Boys' Home and was built in Brixham in 1863 as part of the Torbay and Dartmouth Mission to Seamen with the object of providing for the sons of deceased British seamen. It was established by a Conveyance and Trust Deed dated 22nd March 1887, which had as its Objects:

"The lodging, feeding, clothing and educating in the faith and principles of the Church of England, as now established by law, the sons of deceased British seamen."

The Home operated as an orphanage from 1863 to 1988 when it closed for two years and then reopened as an Outdoor Education Centre for young persons, with amended Charity Objects, but with the same values as the original concept of helping young people prepare for life and to enhance their social and personal development. This was through using the Centre's facilities and sensitive use of the outdoor environment. The present name of the Charity was changed from the British Seamen's Boys' Home in the Central Register of Charities of the Charity Commission in March 2007.

Organisational structure

The Charity went through the process of incorporation during 2008, and from 1st January 2009 started to operate as a Charitable Company.

There is a Management Committee comprising eight Directors/Trustees at the end of the year. The role of the Trustees is:-

i) To direct the manner in which the Charity operates to meet the objects of the Trust.

ii) To oversee the safe keeping and administration of investments and assets.

iii) To oversee the safe keeping of all monies held on behalf of the Charity.

iv) To receive and administer all extraordinary income (legacies, grants and large donations).

v) To provide charitable financial support for approved operations to meet capital expenditure and operating budget needs.

The Committee meetings are currently held in January, March, April (AGM), June, September and November. If required, additional meetings can be called at any point in the year.

The role of the Management Committee is:-

The Committee implement the policies that are established by the Trustees, in support of the Objects of the Charity. It acts in the role of General Manager of those operations supported by the Charity.

The Chairman of the Management Committee for 2021 was Richard Dyke. The post of Chair is available for change on an annual basis.

Risk management

The Directors have identified the major risks to which the Charity is exposed and measures have been put in place to lessen the effect of these, whether they are financial or operational. Policy Statements covering the systems and methods adopted to manage all major areas of risk have been produced and are updated as and when necessary and the risks are regularly reviewed in order to minimise the impact to the Charity.

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GRENVILLE HOUSE OUTDOOR EDUCATION CENTRE

REPORT OF THE TRUSTEES

for the Year Ended 31 December 2021

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

06679532 (England and Wales)

Registered Charity number 1126509

Registered office

Grenville House Berry Head Road Brixham Devon TQ5 9AF

Trustees

P M Busby R L Dyke Chair Rev E J Perry (resigned 8.11.21) A B Prowse G Brown Mrs A Dyke Mrs C L Lawrence (resigned 8.11.21) M Rogers S James (resigned 31.3.21) F J Sobey (appointed 14.6.21)

Independent Examiner

Ian Barrett FCA FCIE Barretts Chartered Accountants & Chartered Tax Advisers 22 Union Street Newton Abbot Devon TQ12 2JS

Approved by order of the board of trustees on 5 September 2022 and signed on its behalf by:

R L Dyke - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GRENVILLE HOUSE OUTDOOR EDUCATION CENTRE

Independent examiner's report to the trustees of Grenville House Outdoor Education Centre ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of FCA FCIE which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Ian Barrett FCA FCIE Barretts Chartered Accountants & Chartered Tax Advisers 22 Union Street Newton Abbot Devon TQ12 2JS

14 September 2022

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GRENVILLE HOUSE OUTDOOR EDUCATION CENTRE

STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 31 December 2021

Notes INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Grenville House services Investment income 2 Other income Total EXPENDITURE ON Charitable activities Grenville House services Net gains on investments NET INCOME/(EXPENDITURE) Transfers between funds 13 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestricted funds £ 500 225,011 13,648 72,219 311,378 330,774 72,383 52,987 6,356 59,343 1,969,754 2,029,097	Restricted fund £ - - - - - - - - - - - -	Endowment fund £ - - 6,356 - 6,356 - 20,426 26,782 (6,356) 20,426 320,541 340,967	2021 Total funds £ 500 225,011 20,004 72,219 317,734 330,774 92,809 79,769 - 79,769 2,290,295 2,370,064	2020 Total funds £ 3,550 83,755 20,906 143,127 251,338 322,150 27,593 (43,219) - (43,219) 2,333,514 2,290,295

The notes form part of these financial statements

Page 5

GRENVILLE HOUSE OUTDOOR EDUCATION CENTRE

BALANCE SHEET

31 December 2021

Notes FIXED ASSETS Tangible assets 7 Investments Investments 8 Investment property 9 CURRENT ASSETS Stocks 10 Debtors 11 Cash at bank and in hand CREDITORS Amounts falling due within one year 12 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 13 Unrestricted funds Endowment funds TOTAL FUNDS	Unrestricted funds £ 1,212,691 295,289 353,900 1,861,880 1,528 25,961 277,752 305,241 (138,024) 167,217 2,029,097 2,029,097	Restricted fund £ - - - - - - - - - - - -	Endowment fund £ - 335,084 - 335,084 - - 5,883 5,883 - 5,883 340,967 340,967	2021 Total funds £ 1,212,691 630,373 353,900 2,196,964 1,528 25,961 283,635 311,124 (138,024) 173,100 2,370,064 2,370,064 2,029,097 340,967 2,370,064	2020 Total funds £ 1,214,351 589,467 317,536
					2,121,354
					1,528 22,498 286,447
					310,473
					(141,532) 168,941 2,290,295
					2,290,295
					1,969,754 320,541 2,290,295

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

The notes form part of these financial statements

Page 6

continued...

GRENVILLE HOUSE OUTDOOR EDUCATION CENTRE

BALANCE SHEET - continued

31 December 2021

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 5 September 2022 and were signed on its behalf by:

R L Dyke - Trustee

The notes form part of these financial statements

Page 7

GRENVILLE HOUSE OUTDOOR EDUCATION CENTRE

NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 December 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Equipment & boats - Straight line over 7 years Computer Equipment - Straight line over 3 years Mini bus - straight line at 15% per annum

Investment property

Investment property is shown at its market value at the year end. Any surplus or deficit on revaluation is shown in the Statement of Financial Activities.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

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GRENVILLE HOUSE OUTDOOR EDUCATION CENTRE

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2021

2. INVESTMENT INCOME

Rents received Other fixed asset invest Deposit account interest	2021 £ 8,105 11,856 43 20,004	2020
		£
		8,117
		12,687 102
		20,906

3. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Depreciation - owned assets	2021 £ 8,355	2020
		£ 12,522

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.

5. STAFF COSTS

The average monthly number of employees during the year was as follows:

Educational/ support Administration	2021 11 1 12	2020
		12 1 13

No employees received emoluments in excess of £60,000.

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES FOR DECEMBER 2020

INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Grenville House services Investment income Other income Total	Unrestricted funds £ 3,550 83,755 14,012 143,127 244,444	Restricted fund £ - - - - -	Endowment fund £ - - 6,894 - 6,894	Total funds £ 3,550

				83,755
				20,906
				143,127

				251,338

continued...

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GRENVILLE HOUSE OUTDOOR EDUCATION CENTRE

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2021

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES FOR DECEMBER 2020 - continued

Unrestricted funds £ 322,150 38,296 (39,410) 6,831 (32,579) 2,002,333 1,969,754 Freehold property £ 1,196,055 - 1,196,055 - - - 1,196,055	Restricted fund £ - - - - - - - Fixtures and fittings £ 191,182 6,695 197,877 172,886 8,355 181,241 16,636	Endowment fund £ - (10,703) (3,809) (6,831) (10,640) 331,181 320,541 Motor vehicles £ 8,539 - 8,539 8,539 - 8,539 -














1,196,055	18,296	-

continued...

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GRENVILLE HOUSE OUTDOOR EDUCATION CENTRE

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2021

8. FIXED ASSET INVESTMENTS

8.	FIXED ASSET INVESTMENTS
		Listed
		investments
		£
	MARKET VALUE
	At 1 January 2021	589,467
	Additions	22,597
	Disposals	(38,136)
	Revaluations	56,445
	At 31 December 2021	630,373
	NET BOOK VALUE
	At 31 December 2021	630,373
	At 31 December 2020	589,467
	There were no investment assets outside the UK.
	Cost or valuation at 31 December 2021 is represented by:
		Listed
		investments
		£
	Valuation in 2021	630,373
9.	INVESTMENT PROPERTY
		£
	FAIR VALUE
	At 1 January 2021	317,536
	Revaluation	36,364
	At 31 December 2021	353,900
	NET BOOK VALUE
	At 31 December 2021	353,900
	At 31 December 2020	317,536
	Fair value at 31 December 2021 is represented by:
		£
	Valuation in 2021	353,900

continued...

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GRENVILLE HOUSE OUTDOOR EDUCATION CENTRE

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2021


			2020 £
			1,528

			2020 £
			2,269
		20,229
		22,498

		2020 £
	131,026
	5,903 3,478 1,125 141,532
At 31.12.21 £ 2,029,097 340,967 2,370,064 Movement in funds £ 52,987 26,782 79,769

continued...

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GRENVILLE HOUSE OUTDOOR EDUCATION CENTRE

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2021

13. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds General fund Endowment funds Endowment TOTAL FUNDS	At 1.1.20 £ 2,002,333 331,181 2,333,514	Net movement in funds £ (39,410) (3,809) (43,219)	Transfers between funds £ 6,831 (6,831) -	At 31.12.20 £ 1,969,754 320,541
				2,290,295

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds General fund Endowment funds Endowment TOTAL FUNDS	Incoming resources £ 244,444 6,894 251,338	Resources expended £ (322,150) - (322,150)	Gains and Movement losses in funds £ £ 38,296 (39,410) (10,703) (3,809) 27,593 (43,219)	Gains and Movement losses in funds £ £ 38,296 (39,410) (10,703) (3,809) 27,593 (43,219)
				(43,219)

14. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2021.

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GRENVILLE HOUSE OUTDOOR EDUCATION CENTRE

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2021

INCOME AND ENDOWMENTS Donations and legacies Donations Grants Investment income Rents received Other fixed asset invest Deposit account interest Charitable activities Grenville House services Sundry income Other income Covid 19 support Total incoming resources EXPENDITURE Charitable activities Salaries, pensions and national insurance Insurance Light, heat & water Rates Administration General operating costs Boats - insurances & licences Boats - operation & repair Land activities Mini-bus Staff training Staff expenses Catering Site & building maintenance Merchandise Depreciation of tangible fixed assets Support costs	2021 £ - 500 500 8,105 11,856 43 20,004 225,011 - 225,011 72,219 317,734 216,749 17,490 12,159 451 4,358 6,946 2,281 3,471 928 3,014 1,321 15 16,207 2,825 - 8,355 296,570	2020 £ 3,550 -
		3,550 8,117 12,687 102
		20,906 80,877 2,878
		83,755 143,127
		251,338 206,476 19,047 11,279 174 9,101 198 - 1,482 333 827 606 119 3,883 8,606 80 12,522
		274,733

This page does not form part of the statutory financial statements

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GRENVILLE HOUSE OUTDOOR EDUCATION CENTRE

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2021

Support costs Governance costs Salary, pension and national insurance Pensions Accountancy fees Legal & professional fees General expenses & marketing Discounts & sponsorship Total resources expended Net expenditure	2021 £ 14,027 4 2,473 11,062 1,688 4,950 34,204 330,774 (13,040)	2020 £ 30,468 - 1,046 14,766 1,137 - 47,417 322,150 (70,812)

This page does not form part of the statutory financial statements

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