OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2020-12-31-accounts

Notes 2020 2020 2020 2019
Restricted Unrestricted Total Total
6 6 6 6
Turnover 332,220 332,220 310,587
Operating
cosh
Direct costs 228,969 228,969 262,038
Support costs 100 75,872 75,972 61,468
(100) (304,841) (304,941) (323,506)
Operating
(deficit)/surplus		 (100) 27,379 27,279 (12,919)
Other income
Donations
and legacies		 1,435 1,435 9,228
Interest
receivable
income		 and other 5,711 42,166 47,877 57,870
Gains on investment disposals 17 1,616 38,982 40,598 23,982
7,327 82,583 89,910 91,080
Other expenditure
Interest payable 14 (16,727) (16,727) (16,832)
Investment
management
expenses		 (1,553) (11,561) (13,114) (16,070)
Grants payable 6 (3,000) (570) (3,570) (13,998)
Governance
costs		 10 (896) (12,549) (13,445) (12,189)
(Deficit)/Surplus for the year 1I778 68,755 70,333 19,072
Unrealised
gains/(losses)
investments		 on 17 (4,932) (35,487) (40,419) 228,949
Total comprehensive
income/
(expenditure)
for the year		 (3,153) 33,067 29,914 248,021

Revenue Designated Restricted Total
Reserves Reserves Funds
6 6
Balance at 13anuary 2019 2,509,589 361,798 247,957 3,119,344
Surplus
/ (deficit) from
statement
ofcomprehensive		 96,080 (76,442) (566) 19,072
income
Unrealised
(losses)/gains		 on 168,005 38,381 22,563 228,949
investments
2,773,674 323,737 269,954 3,367,365
Transfer between
funds		 (72,629) 72,629
Balance at 31December
2019		 2,701,045 396,366 269,954 3,367,365
Surplus
/ (deficit) from
statement
ofcomprehensive		 141,028 (72,473) 1,778 70,333
income
Unrealised
gains / (loss)
investments		 on (36,720) 1,232 (4,932) (40,419)
2,805,353 325,125 266,601 3,397,279
Transfer between
funds		 (56,994) 56,994
Balance at31December
2020		 2,748,359 382,120 266,601 3,397,279

Notes 2020 2019
Fixed assets
Tangible
fixed assets		 16 2,181,741 2,169,029
Investments 17 2,239,226 2,286,650
4,420,967 4,455,679
Current assets
Trade and other debtors 18 86,991 19,711
Cash and cash equivalents 27 162,657 190,583
249,648 210,294
Creditors: amounts
within one year		 falling due 19 (54,486) (56,767)
Net current assets 195,162 153,527
Total assets less current liabilities 4,616,129 4,609,206
Creditors: amounts
after more than one		 falling due
year		 20 (1,218,850) (1,241,841)
Total net assets 3,397,279 3,367,365

A S AT YEAR ENDED 31DECEMBER 2020
Notes 2020 2019
Reserves 24
Revenue reserve 2,748,358 2,701,045
Designated reserves 382,120 396,366
Restricted reserves 266,801 269,954
3,397,279 3,367,365

F O RTHE YEAR ENDED 31 DECEMBER 20 20
Notes 2020 2020
Net cash generated
from		 operating activities 26 (99,018) (56,567)
Cash flow from investing activities
Dividends,
interest and rents		 from investments 47,877 57,870
Purchase oftangible
fixed assets		 (23,213) (71,202)
Proceeds from sales of investments 117,783 45,114
Purchase of investments (70,180) (500)
72,267 31,282
Cash flow from financing activities
Repayment
of borrowings		 (1,175) (1,072)
(1,175) (1,072)
Net change
in cash and		 cash equivalents (27,926) (26,357)
Cash and cash equivalents at beginning ofthe year 190,583 216,940
Cash and cash equivalents at end ofthe year 27 162,657 190,583

residual value, over their exp ected useful
lives
Freehold Property 2%
Fixtures and fittings 4%
Roofs 80 years
Bathrooms 25 years
Kitchens 25 years
Boilers 20 years

Restricted Unrestricted Total Total
funds funds funds funds
2020 2020 2020 2019
f
Donations 1,435 1,435 1,228
Legacies 8,000
1,435 1,435 9,228
Total2019 830 8398 9,228

Restricted Unrestricted Total Total
funds funds funds funds
2020 2020 2020 2019
f f f
Weekly maintenance contributions 320,243 320,243 304,940
Less: losses from voids (9,736) (9,736) (16,066)
310,507 310,507 288,874
Social housing grant utilised in year 21,713 21,713 21,713
332,220 332,220 310,587
Totat2819 310587 310,587

2020 2019
69 69

Investment income
Restdcted Unrestricted Total Total
funds funds funds funds
2020 2020 2020 2019
6 6 6 6
Listed investments 5,641 42,002 47,643 57,330
Investment properties 26 26 17
Cash 70 138 208 523
5,711 42,166 47,877 57,870
Total 2D19 69DD 5D,97D 57,87D

Restricted Unrestricted Total Total
funds funds funds funds
2020 2020 2020 2019
f. 6 f.
Investment management fees 1,553 11,561 13,114 16,070
1,553 11,561 13,114 16,070
Total2D19 1,9D3 14,167 16D7D

Grants to Grants to
Institutions Individuals Total Total
2020 2020 2020 2019
f. 6 6
Almshouse &Chapel Branch
Relief in Need Branch 3,742
Education Branch 570 570 2,951
Faversham
Heritage
Hatch Charity		 Fund & Henry 3,000 3,000 4,755
Recreation Branch 2,550
3,000 570 3,570 13,998
Total 2D19 12,716 1,282 13998

Restricted Unrestricted Total Total
funds funds funds funds
2020 2020 2020 2019
B B B
Almshouse 5Chapel Branch 320,870 320,870 349,706
Relief in Need Branch 271 271 5,54-'l
Education Branch 852 852 4,956
Faversham
Charity		 Heritage Fund Br Henry Hatch 3,100 3,100 7,123
Recreation Branch 145 145 3,077
3,100 322,138 325,238 370,406
Tote/ 2019 7,123 3632B3 370406

12.Net income/(expenditure) 12.Net income/(expenditure) 12.Net income/(expenditure)
2020 2019
6
Operating surplus is stated alter charging:
Auditor's remuneration 10,380 8,460
Depreciation 10,540 13,463

2020 2019
6 6
Wages and salaries 99,011 85,879
Social security costs 7,492 3,686
Pension costs 2,121 498
108,624 90,063
The average number of persons employed by the chadity during the year was as follows:
2020 2019
No. No.
Scheme Manager (Part time) 2 1
Caretaker
and cleaner		 2 2
Administration 2 2
No employee received remuneration above 660,000(2019 —none).
14.Interest payable 2020 2019
6
On loans wholly or partly repayable in more than 5years 16,727 16,832

16.Tangible fixed assets
Freehold Fixtures Total
property and fittings
6
Cost or valuation
At 1January 2020 2,967,086 183,909 3,150,995
Additions 23,213 23,213
At 31December 2020 2,967,086 207,122 3,174,208
Depreciation
At 1January 2020 948,742 33,224 981,966
Charge for the year 2,998 7,503 10,501
At 31December 2020 951,740 40,727 992,467
Net book value
At 31 December 2020 2,015,346 166,395 2,181,741
At 31December 2019 2,018,344 150,685 2,169,029

17.Investments
2020 2019
The market value ofinvestments as at 31 December 2020 is as follows:
IPS Growth
Portfolio —345,821.69 units (2019 - 386,707.6894)		 640,116 699,168
IPS High Yield Income Portfolio —1,166,590.47 units (2019-
1,101,427.9846)		 1,307,748 1,276,555
Charities
Investment
Fund ERF Scheme —815 income units		 168,048 153,026
Charities
Investment
Fund
HRF Scheme —598.05 income units (2019—
840.96 income units)		 123,314 157,901
2,239226 2286 650
The cost of investments
as at 31		 December 2020 is as follows:
IPS Growth
Portfolio —345,821.69 units (2019 - 386,707.6894)		 477,587 533,328
IPS High Yield Income Portfolio
1,101,427.9846)		 —1,166,590.47 units (2019- 1,256,705 1,200,313
Charities Investment
Fund ERFScheme —815income units		 64,117 64,117
Charities Investment
Fund HRF
840.96income units)		 Scheme —598.05 income units (2019— 51,439 72,236
1,849,848 1,869,994
All investments
held at 31December 2020 are UK listed investments		 in managed funds.
Market value at 1)anuary 2020 2,286,650 2,078,333
Additions 70,180 500
Disposals (117,783) (45,114)
Realised surplus 40,598 23,982
Unrealised
surplus
/ (deficit)		 (40,419) 228,949
Market value at 31 December 2020 2,239,226 2,286,650
18.Trade and other debtors
2020 2019
6
Social housing
rent arrears		 217 419
Prepayments
and accrued income		 86,774 19,292
86,991 19,711

Creditors: amo unts falling due within one year
2020 2019
6 0
Other loans 1,175 1,072
Accruals and deferred income 31,598 33,982
Deferred grant 21,713 21,713
54,486 56,767
Creditors: amounts falling due after more than one year
2020 2019
6
Deferred grant 1,042,194 1,063,907
Other loans 176,656 177,934
1,218,850 1,241,841
Deferred income
2020 2019
Balance brought forward 412 1,835
Released
in year		 (412) (1,835)
Deferred
dudng		 the year 790 412
Balance carried forward 790 412

2020 2019
Balance brought forward 1,085,620 1,107,333
Released in year (21,713) (21,713)
Balance carried forward 1,063,907 1,085,620

Loans
2020 2019
Amounts falling due within one year 1,175 1,072
Amounts falling due 1-2 years 1,300 2,200
Amounts falling due 2-5 years 4,000 3,450
Amounts falling due alter more than 5 years 171,356 172,284
177,831 179,006

Balance Balance
at 1 at 31
3anuary Income Expenditure Transfers Gains/ December
2020 In/out (Losses) 2020
f. 6 6
Designated
funds
Cyclical 53,613 (47,466) 52,779 58,926
maintenance
fund
Emergency repair 153,026 (51,955) 51,955 15,022 168,048
fund
Housing 159,727 (47,740) 13,159 125,146
redevelopment
fund
Roof repair fund 25,000 25,000
Chapel heating 5,000 5,000
fund
396,366 (99,421) 56,994 28,181 382,120
General funds
General funds 2,657,129 366,201 (241,411) (19,514) (19,069) 2,743,336
Education branch 19,705 4,612 (2,850) (18,367) (2,705) 396
Recreation branch 6,718 941 (552) (4,723) (552) 1,831
Relief in need 17,493 4,068 (2,014) (14,391) (2,361) 2,795
branch
3,097,411 375,821 (346,048) 3,495 3,130,478
Restricted funds
Organ 3,518 3,518
maintenance
fund
Faversham 266,436 5,711 (5,549) (3,315) 263,283
Heritage Fund
and Henry Hatch
Charity
269,954 5,710 (5,549) (3,315) 266,801
Total offunds 3,367,365 381,532 (351,797) 179 3,397,279

Balance Balance
at1 at31
3anuary Income Expenditure Transfers Gains/ December
2019 In/out (Losses) 2019
E E 6
Designated
funds
Cyclical 36,804 (36,620) 53,418 53,613
maintenance
fund
Emergency repair 125,776 (63,815) 63,815 27,250 153,026
fund
Housing 169,218 (44,604) 35,113 159,727
redevelopment
fund
Roof repair fund 25,000 25,000
Chapel heating 5,000 5,000
fund
361,798 11 (100,435) 72,629 62,363 396,366
Generalfunds
General funds 2,497,815 358,500 (258,299) (70,664) 129,777 2,657,129
Education branch 1,706 5,503 (5,913) 18,409 19,705
Recreation branch 5,097 1,139 (3,272) 3,754 6,718
Relief in need 4,971 4,802 (6,380) (1,965) 16,065 17,793
branch
2871I387 369~955 (374,299) 230,368 3,097,411
Restricted funds
Organ 2,688 830 3,518
maintenance
fund
Faversham 245,269 6,900 (8,296) 22,563 266,436
Heritage Fund
and Henry Hatch
Charity
2'}7,957 7,730 (8,296) 22,563 269,954
Total offunds 3,119,344 377,685 (382,595) 252,931 3,367,365

Balance Balance
at 1 at31
3anuatY Income Expenditure Transfers Gains/ December
2020 In/out (Losses) 2020
E 6 E
Designated
funds		 396,366 (99,421) 56,994 28,181 382,120
General
funds		 2,701,045 375,821 (246,827) (56,994) (24,686) 2,748,359
3,097,411 375,821 (346,248) 3,495 3,130,678
Restricted
funds		 269,954 5,710 (5,549) (3,315) 266,801
3,367,365 381,532 (351,797) 179 3,397,279
Balance Balance
at 1 at31
lanuary income Expenditure Transfers Gains/ December
2019 In/out (Losses) 2019
S S
Designated
funds		 361,798 (100,435) 72,629 62,363 396,366
General 2,509,589 369,944 (273,864) (72,629) 168,005 2,701,045
funds
2,871,387 369,955 (374,299) 230,368 3,097,411
Restricted 247,957 7,730 (8,296) 22,563 269,954
funds
3,119,344 377,685 (382,595) 252,931 3,367,365

Analysis ofnet assets between funds —current year
Restricted Unrestricted Total
funds funds funds
2020 2020 2020
6 6
Tangible fixed assets 2,181,741 2,181,741
Fixed asset investments 230,627 2,008,599 2,239,226
Current assets 36,174 213,474 249,648
Creditors due within one year (54,486) (54,486)
Creditors due in more than one year (1,218,850) (1,218,850)
266,801 3,130,478 3,397,279

Analysis ofnet assets between funds —prior year
Restricted Unrestricted Total
funds funds funds
2019 2019 2019
6 6
Tangible fixed assets 2,169,029 2,169,029
Fixed asset investments 233,926 2,052,724 2,286,650
Current assets 36,028 174,266 210,294
Creditors due within one year (56,767) (56,767)
Creditors due in more than one year (1,241,841) (1,241,841)
269,954 3,097,411 3,367,365

2020 2019
E E
Net income/(expenditure)
for the year		 29,914 248,021
Adjustments for:
Depreciation charges 10,501 13,463
(Gains)/losses on investments (179) (252,931)
Dividends,
interest and rents from
investments		 (47,877) (57,870)
Loss on the sale offixed assets
(Increase) / decrease in debtors (67,280) 3,700
(Decrease) / increase in creditors (24,097) (10,950)
Net cash (used in)/by
activities		 operating (99,118) (56,567)
27.Analysis of cash and cash equivalents
2020 2019
E
Cash in hand 162,657 190,583
28.Grant commitments
At the 31 December 2020 the charity had commitments as follows:
2020 2019
E
Within one year 11,000 3,000
Between one and two years 22,000 22,000
33,000 25,000

At the 31 December
2020 the
charity
had
future
agreements
as follows:		 incoming
resources
from
non-cancella		 ble
lease
2020 2019
f
Within one year 1 1
Between one and two years 1 1
Between two and five years 3 3
More than five years 34 35
39 40