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2021-03-31-accounts

Charity Registration No. 1126939

Company Registration No. 06695254 (England and Wales)

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Dr Alison Cronin MBE
Mr B Glazier
Mr J Keeling
Charity number 1126939
Company number 06695254
Registered office Hethfelton House
Hethfelton
Wareham
Dorset
BH20 6HS
Auditor Fiander Tovell Limited
Stag Gates House
63/64 The Avenue
Southampton
Hampshire
SO17 1XS
Solicitors Lester Aldridge LLP
Russell House
Oxford Road
Bournemouth
Dorset
BH8 8EX

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

CONTENTS

Page
Trustees' report 1 - 12
Statement of Trustees' responsibilities 13
Independent auditor's report 14 - 17
Statement of financial activities 18
Balance sheet 19
Statement of cash flows 20
Notes to the financial statements 21 - 35

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021

The Trustees present their annual report and financial statements for the year ended 31 March 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "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

Please see the main report.

Achievements and performance

Please see main report.

Financial review

The statement of financial activities is set out on page 18 and shows the results of the activities carried out during the year.

Incoming resources during the year were £478,955 (2020 - £579,925). £nil of incoming resources was restricted (2020 - £50,000).

Resources expended during the year were £410,390 (2020 - £467,057). £7,281 of resources expended were restricted (2020 - £28,679).

Total unrestricted funds at the balance sheet date were £6,275,951 (2020 - £6,200,105) and total restricted funds were £241,741 (2020 - £249,022).

It is the intention of the Trustees to ensure that unrestricted reserves of at least six months expenditure are maintained. Current unrestricted reserves are significantly in excess of the amounts required to support six months of expenditure.

Structure, governance and management

The Jim Cronin Memorial Fund for Primate Welfare and Conservation was incorporated as a Company Limited by Guarantee on 11 September 2009. It has no share capital and is a registered charity. The guarantee of each member is limited to £1.

The governing document is the Memorandum and Articles of Association of the company, dated 24 November 2008 and the members of the Board of Trustees are Directors of the company, for the purpose of company law. The rules regarding the number of directors and their appointment, reappointment and removal are contained in the Articles of Association, to which reference should be made.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: Dr Alison Cronin MBE

Mr B Glazier

Mr J Keeling

Auditor

In accordance with the company's articles, a resolution proposing that Fiander Tovell Limited be reappointed as auditor of the company will be put at a General Meeting.

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Disclosure of information to auditor

Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The Trustees' r eport was approved by the Board of Trustees.

Dr Alison Cronin MBE

Trustee

10 December 2021

Jim Cronin Memorial Fund for Primate Welfare & Conservation. Registered Charity No: 1126939

Hethfelton House, Hethfelton, Wareham, Dorset. BH20 6HS Email: fundraising@jimcroninmemorialfund.org Telephone: 01929 462487

The Jim Cronin Memorial Fund’s objectives as stated in its Memorandum of Association are:

“To advance the education of the public in the conservation of non-human primates and in all other matters concerning them, in particular, but not exclusively, through the provision and maintenance of an education centre and the provision of scholarships to students.

To relieve the suffering of non-human primates which are in need of care and attention and in particular to rescue and provide care and treatment for such non-human primates that are unwanted, abandoned, neglected or ill-treated”.

In setting our programme of activities we have regard to both the Charity Commission's general guidance on public benefit and advancement of education and animal welfare for the public benefit. The trustees ensure that any activity undertaken is in line with our charitable objectives and aims.

3

Trustees’ Report. 1 April 2020 – 31 March 2021

It’s been an incredibly difficult year for all, and our lives have changed significantly as a result of the global pandemic. It was heart-breaking to experience the charity’s Education Centre so quiet, it’s usually bursting with life, laughter and enthusiastic energy but staying safe was the priority. Having to cancel all of our courses, workshops and events was an unenviable but necessary task, however all of our participants, supporters and clients were incredible throughout, and we really can’t thank them all enough for the support, patience and understanding shown during this difficult time.

Education

Despite the pandemic, we were pleased that Charlotte Daniels, who is one

of our Educational Grant recipients, was able to continue

working towards the Oxford Brookes, Masters in Primate Conservation remotely. Understandably, Charlotte had to overcome a number of challenges with this new way of working but she took it all in her stride, kept her head down and focused on her course and the task in hand.

We caught up with Charlotte mid-way through the year to find out how it was going. She said, “After what has felt like the longest 7 months, dealing with lockdowns, and working through a pandemic, I am finally back to university to start my final year of the MSc in Primate Conservation at Oxford Brookes University. Things are far from usual with restrictions still in place and some lessons

still online to facilitate teaching in the current climate”.

“Right now, I am working my way through two modules of the course, ‘People-primate interactions’ and ‘International legislation, humans and wildlife’. Both modules are being delivered face-to-face,

but everything is very surreal, with far fewer students, social distancing to adhere to and no option to work in groups and discuss the topics, course material and published research. Despite all the changes in place, I am excited for the rest of the academic year and looking forward to what’s ahead. I hope that through these difficult times you are all keeping

safe and well, and I am continually grateful of your support for the Jim Cronin Memorial Fund, which in turn has enabled me to study the Masters”

4

Education continued.

The wonders of technology! Despite the difficulties of this year, the charity took advantage of all forms of online teaching, whether it was via Zoom, Teams or Skype. We were able to deliver a number of educational talks and workshops during Lockdown in order to continue to meet the charity’s goals.

On behalf of the charity, Dr Alison Cronin MBE provided the Keynote speech online for the Keith Entwistle Memorial Lecture for Cambridge University Veterinary Society. Alison’s talk and presentation was very well received with over 150 people logged on and listening from all over the UK.

The CUVS (Cambridge University Veterinary Society) said after the talk “I would also like to say a massive thank you to yourself and Alison for arranging to do this talk for us - We have received such amazing and positive feedback, with everyone saying how interesting it was and how they simply loved Alison's passion throughout”

Whilst presenting talks and workshops online is not our preferred method of delivery, it was necessary under the circumstances. We were able to deliver multiple talks to a variety of colleges this way during the lockdown period.

Out of all of the talks and presentations that were provided during this time, the most memorable was for Oaklands College in St Albans. A one-hour presentation turned into a three-hour marathon and despite not being face to face with the students, their participation, enthusiasm, and desire to learn more about primate welfare & conservation was incredible

“I wanted to say a huge thank you for taking the time out of your busy schedule to support our students- they absolutely loved it! Thank you for sharing your passion and inspiring our students. We learnt so much and now are so excited to work with you again in the future. Thank you”

We are very much looking forward

to meeting their students finally in person and welcoming them to the Education Centre for a residential course when the world begins to turn again.

5

Education continued

Despite the repeated lockdowns, there were small windows of time where restrictions were temporarily lifted, and we were able to deliver a few, in person educational courses. Whilst yes, changes had to be made in order to adhere to the guidelines in place and keep everyone safe, being able to deliver these courses gave us all a much-needed boost and were thoroughly enjoyed by all

who attended.

One such course still able to go ahead with reduced numbers was our Primate Drawing course, led by the incredibly talented David Dancey -Wood. Although it wasn’t ideal to have to split this very popular and normally well attended course into multiple, smaller courses, with less participants, on this occasion it was not a negative as each of our participants received considerably more one-to-one tuition from the incredibly talented David Dancey-Wood.

6

Grants & Funding

Despite the world being on hold due to the pandemic, we continued to provide grants and funding for the benefit of primates in captivity; from the all-important hosing which ensures and enables primates in captivity to move around their enclosures in a natural way, to much needed equipment enabling primate carers and vets to accurately monitor the health and wellbeing of the primates in their care.

Hosing

A vital part of any primate enclosure is the items/furniture/enrichment provided which encourage and enable the individuals to express and display natural behaviour. Each primate has very specific needs when it comes to enclosure design and the critically endangered woolly monkeys at Monkey World are no exception. With multiple, large, indoor, and outdoor areas that needed new hosing, it was clear we were going to need literally thousands of metres of a very specific type of hose to ensure that these very precious monkeys had enough to keep them all busy swinging, climbing, and playing and using those fantastic prehensile tails.

Microscope and Centrifuge

The charity was pleased to be able to fund the purchase of some much needed, new equipment for the Monkey World veterinary hospital. Their old and very well used Microscope and Centrifuge had both reached the end of their lives and no amount of money would ever be able to fix them. By providing them with a brand new, all singing and dancing Vetlab Premier 250 Biological Microscope,

it has vastly improved their ability to accurately assess biological samples in house. Monkey World’s Vet Nurse Saffron said “We are now able to magnify samples up to x100 and use oil immersion to allow for detailed microscopic accuracy when looking for pathogens or cellular organisms”.

The new microscope has given the team at the park the opportunity to view commensal organisms within routine faecal samples and they are now able to accurately examine urine, blood, skin, and hair samples from all of the resident

primates at the park, without having to send the samples to an external laboratory. After discussing their needs in more detail, we decided to buy them an InSight Microscope Eyepiece Adapter for Smartphones which will allow them to easily photograph or video precisely what they see through the microscope lens without compromising the image quality, providing them with a time saving solution allowing

them to quickly and easily share the images directly to colleagues or the veterinarian for diagnosis.

7

Grants & Funding continued

Microscope and Centrifuge

The second piece of much needed equipment purchased for the Monkey World veterinary hospital was a Centrifuge. We asked Monkey World’s Vet Nurse Saffron to explain how this new piece of equipment would benefit the primates at the park. She said “The VetSpin Duo Veterinary Centrifuge, kindly donated to us by the Jim Cronin Memorial Fund, will allow us to run even more essential diagnostic tests in our in-house laboratory without the need to send samples to a third party”.

“Our previous centrifuge was very old, having been donated from a hospital many years ago. We were unable to run samples at high speeds or possess the correct rotor to run Packed Cell Volume (PCV) tests. PCV tests are vital and enable us to diagnose polycythaemia (abnormally high amount of red blood cells), dehydration or anaemia (abnormally low amount of red blood cells). This test only requires a small amount of blood which can be obtained easily as a result of the Primate Care Staff’s dedicated positive reinforcement training and provides valuable diagnostic information for the veterinary team without the need for anaesthesia. As well as being able to run PCV tests, the new Vet Spin Duo Centrifuge allows us to more accurately process faecal and urine samples, which are essential for assessing the health of the primates here at Monkey World. The VetSpin Duo Veterinary Centrifuge is an invaluable diagnostic tool and makes a welcome addition to our in-house diagnostic laboratory.”

Primate Flu Vaccines

While the whole world was focusing on ensuring that we had a vaccine for Covid 19, we were busy ensuring that we had the funding available and were able to source flu vaccines for the primates.

Understandably on this occasion, entering the primate areas to photograph and witness the primates receiving their all-important flu vaccine was not an option, we were very pleased to hear that this year’s primate flu vaccination program went incredibly well, with all primates receiving an appropriate dose ensuring that we had done the very best we could to ensure that the primates would at the very least be protected from the flu, which can be life threatening to a primate and especially to those who have already suffered so much abuse and neglect prior to being rescued.

8

Fundraising & Events

In between periods of lockdown and whilst still adhering to the rules and guidance in place, we were able to host two of our most popular events. Both the family camping sleepover event and the adult sleepover event were able to go ahead. With such a significant reduction to our usual numbers, it was somewhat quieter than usual, but as you can see from the images below, it was thoroughly enjoyed by all who attended and provided the perfect pick me up after such a stressful few months. It was truly wonderful to witness so much joy and laughter during such difficult times.

9

Fundraising & Events continued.

For a number of our supporters, being at home as a result of lockdown gave them the time and opportunity to raise funds for the charity in their own unique ways. From Gaming to shaving, they did it all!

A special thank you must go to young Samuel. He set himself a target of running 300 laps around the big field by his local village hall.

Come rain or shine Samuel soldiered on, determined to raise

money for Primate Welfare & Conservation. Samuel completed his challenge and raised an incredible £620.

A massive thank you also to Karen, one of our supporters who decided to brave the shave! Karen raised an

incredible £381 for Primate Welfare and Conservation, and we think she looks great!

Congratulations must also go to young Aidan. Aidan decided that

he wanted to challenge himself to a gaming marathon and raise money for different causes.

He decided to raise money for the Jim Cronin Memorial Fund on his first attempt because Monkey World was one of his favourite places to go. Aidan said, “I think the work you do is amazing, and I hope any donations I get can help towards the great work you do”. Aidan raised a whopping £218.75 including Gift Aid. Over £118.00 above his target. Well Done!

By turning a lockdown activity into a fund raising opportunity, our supporters showed us just how much fighting for the rights of primates meant to them.

The charity continues to offer a variety of fundraising schemes for our supporters to get involved in, from our very popular Membership Scheme, to the various sponsorship opportunities available at the Education Centre.

Having to hit the pause button during this year on our many events, courses and workshops gave us some time to finally launch our Facebook page. Our Facebook page provides information on our work as well as covering activities and events held at the Education Centre. By combining both the corporate side of the business, which generates income for Primate Welfare and Conservation, with our incredible and dedicated supporters, we are confident that we will be able to spread our message further by encouraging our corporate clients not already involved in our work to become our next generation of supporters and members.

10

Fundraising & Events continued.

Despite the personal difficulties our supporters were facing as a result of Covid 19, they kept us going through some difficult days. Whether it was sending in cards with kind words of support or giving up their own time to donate their stunning paintings to the charity, we have been overwhelmed by their selfless acts of generosity.

We are incredibly fortunate to have some seriously talented artists who love and support Primate Welfare & Conservation as much as we do and who generously donated original artwork for our “In it to win it” Prize Draw. Thank you so much to Tom Lomax and Rebecca Sherlaw-Johnson who donated original pastel artwork and an original watercolour painting which made up the first ten prizes in this year’s Prize Draw which raised over £2600.00.

11

Despite the challenges that this year has brought, we are pleased to report that we are holding our own, it hasn’t been easy, but we have kept our heads down and focused on our work. Currently, we are finalising the funding for the rescue and transportation of a number of primates, from both the UK and abroad. The pandemic has understandably had a serious impact on our ability to physically move some of the primates who are out there in need of our help, but we are ready to do what needs to be done at the very first opportunity possible.

Whilst there is no doubt that for the next year at least, we will continue to face difficulties, we are somewhat reassured that vaccines for Covid 19 are now available. At the current time just over 31million people in the UK have received their first dose. We are hopeful for the future and very much looking forward to getting the Education Centre properly back up and running and continuing with our Primate Welfare & Conservation work across the globe.

12

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2021

The Trustees, who are also the directors of The Jim Cronin Memorial Fund for Primate Welfare and Conservation for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far the trustees are aware:

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

Opinion

We have audited the financial statements of The Jim Cronin Memorial Fund for Primate Welfare and Conservation (the ‘charity’) for the year ended 31 March 2021 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and , except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the d irectors ' r eport included within the Trustees' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the s tatement of Trustees' r esponsibilities, the Trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below .

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

Extent to which the audit was considered capable of detecting irregularities, including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

Audit response to risks identified

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

This report is made solely to the company’s members, as a body, in accordance with section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members, as a body, for our audit work, for this report, or for the opinions we have formed.

Andrew Jay ACA FCCA (Senior Statutory Auditor) for and on behalf of Fiander Tovell Limited

22 December 2021

Chartered Accountants Statutory Auditor

Stag Gates House 63/64 The Avenue Southampton Hampshire SO17 1XS

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021

Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£
Income from:
Donations and legacies
3
350,205
-
Charitable activities
1,975
-
Other trading activities
4
111,784
-
Income from trading
subsidiary
5
14,991
-
Total income
478,955
-
Expenditure on:
Raising funds
6
47,262
-
Charitable activities
7
115,555
7,281
Staff costs
128,571
-
Loan interest
116,474
-
Total resources
expended
407,862
7,281
Net income/(expenditure)
for the year/
Net movement in funds
71,093
(7,281)
Fund balances at 1
April 2020
6,200,105
249,022
Fund balances at 31
March 2021
6,271,198
241,741		 TotalUnrestricted
funds
2021
2020
£
£
350,205
342,857
1,975
21,986
111,784
153,905
14,991
11,177
478,955
529,925
47,262
66,767
122,836
115,702
128,571
154,670
116,474
101,239
415,143
438,378
63,812
91,547
6,449,127
6,108,558
6,512,939
6,200,105		 Restricted
funds
2020
£
50,000
-
-
-
50,000
-
28,679
-
-
28,679
21,321
227,701
249,022		 Total
2020
£
392,857
21,986
153,905
11,177
579,925
66,767
144,381
154,670
101,239
467,057
112,868
6,336,259
6,449,127

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

BALANCE SHEET

AS AT 31 MARCH 2021

Notes
Fixed assets
Tangible assets
11
Investment properties
12
Investments
13
Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within
one year
18
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
19
Net assets
Income funds
Restricted funds
25
Unrestricted funds
General unrestricted funds
Revaluation reserve		 2021
£
£
7,095,488
2,000,000
10
9,095,498
43,131
47,495
480,679
571,305
(434,982)
136,323
9,231,821
(2,718,882)
6,512,939
241,741
3,889,723
2,381,475
6,271,198
6,512,939		 2020
£
£
6,787,483
2,000,000
10
8,787,493
56,415
161,257
365,311
582,983
(248,002)
334,981
9,122,474
(2,673,347)
6,449,127
249,022
3,818,630
2,381,475
6,200,105
6,449,127

The financial statements were approved by the Trustees on 10 December 2021

Dr Alison Cronin MBE

Trustee

Company Registration No. 06695254

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021

2021 2020
Notes £ £ £ £
Cash flows from operating activities
Cash generated from operations 26 289,414 32,921
Investing activities
Purchase of tangible fixed assets (348,370) (86,488)
Investment income received 14,991 11,177
Net cash used in investing activities (333,379) (75,311)
Financing activities
Repayment of bank loans 159,333 (221,654)
Net cash generated from/(used in)
financing activities 159,333 (221,654)
Net increase/(decrease) in cash and cash
equivalents 115,368 (264,044)
Cash and cash equivalents at beginning of year 365,311 629,355
Cash and cash equivalents at end of year 480,679 365,311

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

Charity information

The Jim Cronin Memorial Fund for Primate Welfare and Conservation is a charitable company limited by guarantee incorporated in England and Wales. The registered office is Hethfelton House, Hethfelton, Wareham, Dorset, BH20 6HS.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

These financial statements are separate charity financial statements for The Jim Cronin Memorial Fund. No consolidation has taken place, in line with Section 399 of the Companies Act 2006.

1.2 Going concern

At the time of approving the accounts, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future , even in light of Covid-19 . Thus the Trustees continue to adopt the going concern basis of accounting in preparing the accounts.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Rental income is recognised on an accruals basis.

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

1.5 Expenditure

All expenditure is accounted for on an accruals basis and is directly allocated to a cost category.

Costs of raising funds are those costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Expenditure on charitable activities includes those costs incurred in the governance of the charitable company's assets and general running of the charity and are primarily associated with constitutional and statutory requirements.

Irrecoverable VAT is charged as a cost against the activity in which the expenditure was incurred.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings Not depreciated Plant and equipment 6.66% straight line Infrastructure 6.66% to 20% straight line Outdoor furniture 12.5% straight line Fixtures and fittings 6.66% to 20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities .

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other recognised gains and losses and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in net income/(expenditure) or a revaluation loss exceeds the accumulated revaluation gains recognised in equity ; such gains and loss are recognised in net income/(expenditure) for the year .

1.7 Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

1.8 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year . Transaction costs are expensed as incurred.

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.9 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .

1.10 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell . Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition .

Cost is calculated using the FIFO method.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.11 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.12 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

UnrestrictedUnrestricted
Restricted
funds
funds
funds
2021
2020
2020
£
£
£
Donations and gifts
62,266
78,372
50,000
Legacies receivable
186,093
252,968
-
Furlough income
95,846
-
-
Corporate sponsorship
6,000
11,517
-
350,205
342,857
50,000		 Total
2020
£
128,372
252,968
-
11,517
392,857

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

4 Other trading activities
Unrestricted Unrestricted
funds funds
2021 2020
£ £
Rental income 35,605 45,974
Goods sold 17,154 23,926
Fundraising income 13,655 12,553
Other income 14,143 10
Events income 3,587 15,243
Flat income 27,640 56,199
Other trading activities 111,784 153,905
This income is derived from the following specific sources:
2021 2020
Rental income 35,605 45,974
Goods sold 17,154 23,926
Fundraising income - Walk of Thanks - 4,781
Fundraising income - Rose 255 255
Fundraising income - Plant a Tree 3,385 1,842
Fundraising income - Benches 1,500 2,250
Fundraising income - Membership 1,950 1,525
Fundraising income - Photography tours 1,380 1,900
Fundraising income - Prize draws 2,627 -
Fundraising income - Help for hoses 2,558 -
Other income 14,143 10
Events income - Sleepovers 3,587 7,773
Events income - Christmas Grotto - 2,471
Events income - Big Weekender - 4,798
Events - Other - 202
Flat income 27,640 56,199
111,784 153,905

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

5 Income from trading subsidiary

6 UnrestrictedUnrestricted
funds
funds
2021
2020
£
£
Income from trading subsidiary
14,991
11,177
Raising funds
UnrestrictedUnrestricted
funds
funds
2021
2020
£
£
Cost of raising funds
Cost of goods sold
14,378
18,888
Events and fundraising expenditure
1,763
12,922
Flats and rental expenditure
15,088
21,276
Advertising
4,936
3,004
Other fundraising costs
11,097
10,677
47,262
66,767

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

7 Charitable activities

2021
£
Health and safety
6,615
Education
7,307
Grants and funding
6,269
Sundry expenses
120
Hethfelton House
78
Utilities
32,551
Insurance
11,550
Repairs and maintenance
1,814
Security
610
66,914
Share of support costs (see note 8)
55,922
122,836
Analysis by fund
Unrestricted funds
115,555
Restricted funds
7,281
122,836
8
Support costs
Support
costs
2020
£
Depreciation
40,365
Bank charges
6,059
Legal and professional fees
3,210
Audit fees
3,406
Credit card machine rental
82
Accountancy fees
2,800
55,922
Analysed between
Charitable activities
55,922
55,922		 2020
£
8,647
10,515
3,196
537
792
36,068
11,845
7,315
572
104,271
40,110
144,381
115,702
28,679
144,381
Support
costs
2019
£
31,589
1,577
309
3,500
335
2,800
40,110
40,110
40,110

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

9 Trustees

The Jim Cronin Memorial Fund for Primate Welfare and Conservation is run by the trustees of the organisation. The trustees have no financial interests in the charitable company.

No remuneration was paid to any trustee during the year (2020 - £nil) and no expenses were reimbursed to trustees during the year (2020 - £nil).

10 Employees

The average monthly number of employees during the year was:

2021 2020
Number Number
Administration and fundraising 6 7

Ape Concessions Limited donated staff time costs of £31,800 (2020 - £31,800) during the year to assist with the running of the charity.

There were no employees whose annual remuneration was more than £60,000.

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

11
Tangible fixed assets
Freehold land
and buildings
£
Cost or valuation
At 1 April 2020
6,500,000
Additions
-
At 31 March 2021
6,500,000
Depreciation and impairment
At 1 April 2020
-
Depreciation charged in the year
-
At 31 March 2021
-
Carrying amount
At 31 March 2021
6,500,000
At 31 March 2020
6,500,000		 Plant and
equipment
Infrastructure
£
£
35,840
215,150
-
346,927
35,840
562,077
10,348
41,617
2,467
21,447
12,815
63,064
23,025
499,013
25,492
173,533		 Outdoor
furniture
Fixtures and
fittings
£
£
31,084
217,296
-
1,443
31,084
218,739
26,665
133,257
611
15,840
27,276
149,097
3,808
69,642
4,419
84,039		 Total
£
6,999,370
348,370
7,347,740
211,887
40,365
252,252
7,095,488
6,787,483

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

11 Tangible fixed assets

(Continued)

The freehold l and and buildings are shown at a carrying amount of £6,500,000. The land and buildings were revalued at 3 July 2018 by Humberts, independent valuers not connected with the charity on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.

At 31 March 2021, had the revalued assets been carried at historic cost less accumulated depreciation and accumulated impairment losses, their carrying amount would have been approximately £4,461,022 (2020 - £4,461,022).

12 Investment property

Investment property
2021
£
Fair value
At 1 April 2020 and 31 March 2021 2,000,000

The fair value of the investment properties, Woodside and Bakerswell, have been arrived at on the basis of a valuation made on open market value by Humberts, independent valuers not connected to the charity.

The investment properties were revalued on 21 June 2018.

13 Fixed asset investments

Other
investments
Cost or valuation
At 1 April 2020 & 31 March 2021 10
Carrying amount
At 31 March 2021 10
At 31 March 2020 10

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

14 Subsidiaries

These financial statements are separate charity financial statements for The Jim Cronin Memorial Fund.

Details of the charity's subsidiaries at 31 March 2021 are as follows:

Name of undertaking Registered Nature of business Class of % Held
office shares held Direct Indirect
Hethfelton House Limited England & Hosting weddings and Ordinary 100.00
Wales corporate events

The aggregate capital and reserves and the result for the year of subsidiaries excluded from consolidation was as follows:

Name of undertaking
Profit/(Loss)
Capital and
Reserves
£
£
Hethfelton House Limited
(13,697)
(13,687)
15
Stocks
Finished goods and goods for resale
16
Debtors
Amounts falling due within one year:
Trade debtors
Amounts owed by subsidiary undertakings
Amounts owed by associate undertakings
Other debtors
Prepayments and accrued income		 2021
£
43,131
2021
£
2,590
5,357
256
13,002
26,290
47,495		 2020
£
56,415
2020
£
-
-
546
113,149
47,562
161,257

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

17 Loans and overdrafts
2021 2020
£ £
Bank loans 2,967,777 2,808,444
Payable within one year 248,895 135,097
Payable after one year 2,718,882 2,673,347
Amounts included above which fall due after five years:
Payable by instalments 1,631,231 1,579,240
The long-term loans are secured by fixed charges over Hethfelton House.
One bank loan is at a fixed rate of 3.22% and for a term of 15 years and 6 months. It will be repaid by 26
September 2030.
One bank loan is at a fixed rate of 4.13% and for a term of 15 years. It will be repaid by 13 January 2032.
One bank loan is at a fixed rate of 3.8% and for a term of 15 years. It will be repaid by 7 December 2035.

18 Creditors: amounts falling due within one year

Notes
Bank loans
17
Other taxation and social security
Deferred income
20
Trade creditors
Amounts owed to subsidiary undertakings
Amounts owed to associate undertakings
Other creditors
Accruals and deferred income
19
Creditors: amounts falling due after more than one year
Notes
Bank loans
17		 2021
£
248,895
1,948
69,828
102,926
-
-
1,240
10,145
434,982
2021
£
2,718,882		 2020
£
135,097
5,479
47,428
26,541
2,489
24,195
-
6,773
248,002
2020
£
2,673,347

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

20 Deferred income

2021 2020
£ £
Deferred income 69,828 47,428

21 Related party transactions

The charitable company is controlled by the trustees.

Dr Alison Cronin MBE, a trustee, is also the director and shareholder of Monkey World Limited, Ape Concessions Limited and Hethfelton House Limited.

In the past, Monkey World Limited has recharged expenses to the charity. None were recharged during the year. At the balance sheet date, no amounts were owed between The Jim Cronin Memorial Fund and Monkey World Limited. At the 31 March 2020, included within amounts owed to connected companies was an amount of £24,195 due to Monkey World Limited. This was interest free and repayable on demand.

During the year Ape Concessions Limited made sales of £17,489 (2020 - £20,803) on behalf of the charity. These sales are included within 'Goods sold.' At the balance sheet date, included in amounts owed by connected companies is an amount of £256 (2020 - £546) due from Ape Concessions Limited .

During the year, Ape Concessions Limited donated time costs of £31,800 (2020 - £31,800) to the charity.

During the year to 31 March 2020, rent of £12,000 was charged to Hethfelton House Limited, a subsidiary company. No rent was charged during the year to 31 March 2021.

At the balance sheet date, £5,357 was owed to The Jim Cronin Memorial Fund. At 31 March 2020, £2,489 was owed to Hethfelton House Limited.

22 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2021
£
648
-
648		 2020
£
983
648
1,631

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

23 Retirement benefit schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. At the balance sheet date there were no contributions outstanding (2020 - £nil).

24 Analysis of net assets between funds

Unrestricted
funds
Restricted
funds
TotalUnrestricted
funds
2021
2021
2021
2020
£
£
£
£
Fund balances at 31
March 2021 are
represented by:
Tangible assets
7,095,488
-
7,095,488
6,787,483
Investment properties
2,000,000
-
2,000,000
2,000,000
Investments
10
-
10
10
Current assets/
(liabilities)
136,323
-
136,323
85,959
Long term liabilities
(2,718,882)
-
(2,718,882) (2,673,347)
6,512,939
-
6,512,939
6,200,105		 Restricted
funds
Total
2020
2020
£
£
-
6,787,483
-
2,000,000
-
10
249,022
334,981
-
(2,673,347)
249,022
6,449,127

25 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Animal welfare and
rescues
Flu jabs		 Balance at
1 April 2019
£
226,701
1,000
227,701		 Movement in funds
Incoming
resources
Resources
expended
£
£
50,000
(27,679)
-
(1,000)
50,000
(28,679)		 Balance at
1 April 2020
£
249,022
-
249,022		 Resources
expended
31
£
(7,281)
-
(7,281)		 Balance at
March 2021
£
241,741
-
241,741

Animal welfare

The restricted funds above are specifically for the primates of Monkey World and to provide treats, toys, enrichments items, medical care and assist with primate rescues.

A donation of £50,000, specifically for the benefit of orangutans at Monkey World, was received during the year.

Flu jabs

This fund is to assist with the cost of flu jabs for primates at Monkey World.

THE JIM CRONIN MEMORIAL FUND FOR PRIMATE WELFARE AND CONSERVATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

26
Cash generated from operations
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease/(increase) in stocks
Decrease/(increase) in debtors
Increase in creditors
Increase in deferred income
Cash generated from operations
27
Analysis of changes in net (debt)/funds
At 1 April 2020
£
Cash at bank and in hand
365,311
Loans falling due within one year
(135,097)
Loans falling due after more than one year
(2,673,347)
(2,443,133)		 2021
2020
£
£
63,812
112,869
(14,991)
(11,177)
40,365
31,589
13,284
(7,294)
113,762
(102,296)
50,782
6,548
22,400
2,682
289,414
32,921
Cash flows At 31 March 2021
£
£
115,368
480,679
(113,798)
(248,895)
(45,535)
(2,718,882)
(43,965)
(2,487,098)