This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.
2022-03-31-accounts
|
Page |
| Reference and administrative details o f the charity, its trustees and advisers |
1 −2 |
| Trustees' report |
3 −9 |
| Trustees' responsibilities statement |
10 |
| Independent auditor's report on the financial statements |
11 −14 |
| Statement o f financial activities |
15 |
| Balance sheet |
16 |
| Statement o f cash flows |
17 |
| Notes t o the financial statements |
18 −34 |
| Trustees |
Joanne Benjamin, Chair |
Joanne Benjamin, Chair |
|
Malcolm Sinclair, Deputy Chair |
|
|
Louisa Rix |
|
|
Richard Berry |
|
|
Joanna David (resigned 6 December 2021) |
|
|
Hemlata Bountra, Treasurer |
|
|
James Coombes (resigned 17 September 2021) |
|
|
Derek Lamden |
|
|
Geraldine James OBE (resigned 22 October 2021) |
|
|
Michael Shelton |
|
|
Lisa Bowerman |
|
|
James Hope (appointed 22 October 2021) |
|
|
Diana Howard (appointed 13 July 2021) |
|
| Company registered |
|
|
| number |
08174255 |
|
| Charity registered |
|
|
| nurnber |
1148968 |
|
| Registered office |
Denville Hall |
|
|
62 Ducks Hill Road |
|
|
Northwood |
|
|
Middlesex |
|
|
HA26 2SB |
|
| Committees |
House Committee |
|
|
Lisa Bowerman, Chair |
|
|
James Coombes, Deputy Chair |
|
|
Gareth Armstrong |
|
|
Esta Charkham |
|
|
Jolycon Coy |
|
|
Trudie Goodwin |
|
|
Michael Jenn |
|
|
Derek Lamden |
|
|
Jane Maud |
|
|
Jamie Newall |
|
|
Louisa Rix |
|
|
Michael Simkins |
|
|
The remit of the house committee is to ascertain the eligibility of prospective |
|
|
beneficiaries. All trustees are welcome at any or all house committee meetings; |
|
|
Derek
Lamden and |
Louisa
Rix have elected to be regular members of this |
|
committee. |
|
|
Finance and General Purpose Committee |
|
|
Richard Berry, Chair |
|
| Independent auditor |
Blick Rothenberg Audit LLP |
|
Chartered Accountants |
|
Statutory Auditor |
|
16 Great Queen Street |
|
Covent Garden |
|
London |
|
WC2B 5AH |
| Bankers |
Barclays Bank plc |
|
1 Churchill Place |
|
London |
|
E14 5HP |
| Solicitors |
Bircham Dyson Bell LLP |
|
50 Broadway |
|
London |
|
SW1H OBL |
| Investment manager |
Sarasin & Partners LLP |
|
Juxon House |
|
100 St Paul's Churchyard |
|
London |
|
EC4M 8BU |
|
|
Unrestricted |
Restricted |
Total |
Total |
|
|
funds |
funds |
funds |
funds |
|
|
2022 |
2022 |
2022 |
2021 |
|
Note |
£ |
£ |
£ |
£ |
| Income from: |
|
|
|
|
|
| Donations and legacies |
|
88,593 |
69,279 |
157,872 |
375,542 |
| Charitable activities |
5 |
2,318,647 |
|
2,318,647 |
1,827,795 |
| Investments |
6 |
293,904 |
|
293,904 |
312,277 |
| Total income |
|
2,701,144 |
69,279 |
2,770,423 |
2,515,614 |
| Expenditure on: |
|
|
|
|
|
| Raising funds |
|
|
|
|
13,704 |
| Charitable activities |
7 |
2,589,019 |
69,279 |
2,658,298 |
2,509,716 |
| Total expenditure |
|
2,589,019 |
69,279 |
2,658,298 |
2,523,420 |
| Net income/(expenditure) before net |
|
|
|
|
|
| (losses)/gains on investments |
|
112,125 |
|
112,125 |
(7,806) |
| Net (losses)/gains on investments |
14 |
(1,213,088) |
|
(1,213,088) |
1,622,807 |
| Net movement in funds |
|
(1,100,963) |
|
(1,100,963) |
1,615,001 |
| Reconciliation of funds: |
|
|
|
|
|
| Total funds brought forward |
|
17,966,926 |
|
17,966,926 |
16,351,925 |
| Net movement in funds |
|
(1,100,963) |
|
(1,100,963) |
1,615,001 |
| Total funds carried forward |
|
16,865,963 |
|
16,865,963 |
17,966,926 |
|
|
|
2022 |
|
2021 |
|
Note |
|
|
|
|
| Fixed assets |
|
|
|
|
|
| Tangible assets |
12 |
|
5,889,145 |
|
4,458,647 |
| Investments |
14 |
|
10,881,160 |
|
10,665,442 |
| Investment property |
13 |
|
|
|
2,825,000 |
|
|
|
16,770,305 |
|
17,949,089 |
| Current assets |
|
|
|
|
|
| Debtors |
15 |
106,324 |
|
82,797 |
|
| Cash at bank and in hand |
|
306,353 |
|
203,896 |
|
|
|
412,677 |
|
286,693 |
|
| Creditors: amounts falling due within one |
|
|
|
|
|
| year |
16 |
(317,019) |
|
(268,856) |
|
| Net current assets |
|
|
95,658 |
|
17,837 |
| Total net assets |
|
|
16,865,963 |
|
17,966,926 |
| Charity funds |
|
|
|
|
|
| Restricted funds |
17 |
|
|
|
|
| Unrestricted funds |
17 |
|
16,865,963 |
|
17,966,926 |
| Total funds |
|
|
16,865,963 |
|
17,966,926 |
|
|
2022 |
2021 |
|
Note |
|
|
| Cash flows from operating activities |
|
|
|
| Net cash generated by/(used in) operating activities |
21 |
22,575 |
(91,152) |
| Cash flows from investing activities |
|
|
|
| Dividends, interests and rents from investments |
|
293,904 |
312,277 |
| Purchase of tangible fixed assets |
|
(160,214) |
(75,294) |
| Proceeds from sale of investments |
|
133,408 |
40,514 |
| Purchase of investments |
|
(190,786) |
(286,713) |
| Net cash provided by/(used in) investing activities |
|
76,312 |
(9,216) |
| Change in cash and cash equivalents in the year |
|
98,887 |
(100,368) |
| Cash and cash equivalents at the beginning of the year |
|
223,894 |
324,262 |
| Cash and cash equivalents at the end of the year |
22 |
322,781 |
223,894 |
| The notes.on pages 18 to 34 form part of these financial statements |
|
|
|
|
Unrestricted |
Restricted |
Total |
|
funds |
funds |
funds |
|
2022 |
2022 |
2022 |
|
£ |
£ |
£ |
| Donations |
85,593 |
|
85,593 |
| Legacies |
3,000 |
|
3,000 |
| Grants |
|
69,926 |
69,926 |
|
88,593 |
69,926 |
158,519 |
|
Unrestricted |
Restricted |
Total |
|
funds |
funds |
funds |
|
2021 |
2021 |
2021 |
|
£ |
£ |
£ |
| Donations |
260,215 |
|
260,215 |
| Legacies |
25,000 |
− |
25,000 |
| Grants |
7,250 |
83,077 |
90,327 |
|
292,465 |
83,077 |
375,542 |
|
|
Unrestricted |
Total |
|
|
funds |
funds |
|
|
2022 |
2022 |
|
Fees receivable |
2,318,647 |
2,318,647 |
|
|
Unrestricted |
Total |
|
|
funds |
funds |
|
|
2021 |
2021 |
|
Fees receivable |
1,827,795 |
1,827,795 |
| 6. |
Investment income |
|
|
|
|
Unrestricted |
Total |
|
|
funds |
funds |
|
|
2022 |
2022 |
|
Income from listed investments |
293,904 |
293,904 |
|
|
Unrestricted |
Total |
|
|
funds |
funds |
|
|
2021 |
2021 |
|
Income from listed investments |
312,277 |
312,277 |
|
Activities |
|
|
|
undertaken |
Support |
Total |
|
directly |
costs |
funds |
|
2022 |
2022 |
2022 |
| Staff costs |
1,223,786 |
596,554 |
1,820,340 |
| Residents' costs |
238,405 |
− |
238,405 |
| Premises costs |
13,038 |
462,826 |
475,864 |
| Legal and professional |
|
50,825 |
50,825 |
| Other costs |
53,005 |
19,859 |
72,864 |
|
1,528,234 |
1,130,064 |
2,658,298 |
|
Activities |
|
|
|
undertaken |
Support |
Total |
|
directly |
costs |
funds |
|
2021 |
2021 |
2021 |
| Staff costs |
1,111,408 |
560,991 |
1,672,399 |
| Residents' costs |
194,047 |
|
194,047 |
| Premises costs |
16,894 |
427,693 |
444,587 |
| Legal and professional |
|
39,627 |
39,627 |
| Other costs |
140,259 |
18,797 |
159,056 |
|
1,462,608 |
1,047,108 |
2,509,716 |
|
|
|
|
Total |
|
Staff costs |
Depreciation |
Other costs |
funds |
|
2022 |
2022 |
2022 |
2022 |
| Direct and support costs |
1,813,476 |
179,716 |
652,173 |
2,645,365 |
| Governance costs |
|
|
18,492 |
18,492 |
| Costs of charitable activities |
1,813,476 |
179,716 |
670,665 |
2,663,857 |
|
1,813,476 |
179,716 |
670,665 |
2,663,857 |
|
|
|
|
Total |
|
Staff costs |
Depreciation |
Other costs |
funds |
|
2021 |
2021 |
2021 |
2021 |
| Expenditure on investment management |
|
|
13,704 |
13,704 |
| Costs of raising funds |
|
|
13,704 |
13,704 |
| Direct and support costs |
1,670,176 |
174,086 |
647,454 |
2,491,716 |
| Governance costs |
|
|
18,000 |
18,000 |
| Costs of charitable activities |
1,670,176 |
174,086 |
665,454 |
2,509,716 |
|
1,670,176 |
174,086 |
679,158 |
2,523,420 |
|
2022 |
2021 |
| This is stated after charging: |
|
|
| Depreciation of tangible fixed assets −owned by the charity |
179,716 |
174,086 |
| Auditor's remuneration −audit |
18,492 |
18,000 |
| Operating lease rentals |
22,737 |
31,339 |
|
2022 |
2021 |
| Wages and salaries |
1,324,354 |
1,289,486 |
| Social security costs |
113,702 |
111,873 |
| Other pension costs |
56,217 |
54,744 |
|
1,494,273 |
1,456,103 |
|
2022 |
2021 |
|
No. |
No. |
| Care |
36 |
37 |
| Support |
21 |
22 |
|
57 |
59 |
|
|
|
|
|
2022 |
2021 |
|
|
|
|
|
No. |
No. |
| In |
the |
band |
£60,001 |
−£70,000 |
|
1 |
| In |
the |
band |
£80,001 |
−£90,000 |
|
|
|
|
Freehold |
Fixtures and |
|
|
|
property |
fittings |
Total |
|
Cost or valuation |
|
|
|
|
At 1 April 2021 |
6,132,975 |
529,380 |
6,662,355 |
|
Additions |
110,426 |
49,788 |
160,214 |
|
Transfers between classes |
1,450,000 |
|
1,450,000 |
|
At 31 March 2022 |
7,693,401 |
579,168 |
8,272,569 |
|
Depreciation |
|
|
|
|
At 1 April 2021 |
2,040,908 |
162,800 |
2,203,708 |
|
Charge for the year |
121,800 |
57,916 |
179,716 |
|
At 31 March 2022 |
2,162,708 |
220,716 |
2,383,424 |
|
Net book value |
|
|
|
|
At 31 March 2022 |
5,530,693 |
358,452 |
5,889,145 |
|
At 31 March 2021 |
4,092,067 |
366,580 |
4,458,647 |
| 13. |
Investment property |
|
|
|
|
|
|
|
Freehold |
|
|
|
|
investment |
|
|
|
|
property |
|
At 1 April 2021 |
|
|
2,825,000 |
|
Deficit on revaluation |
|
|
(1,375,000) |
|
Transfers between classes |
|
|
(1,450,000) |
|
At 31 March 2022 |
|
|
|
|
Listed |
Other |
|
|
Investments |
investments |
Total |
| Cost or valuation |
|
|
|
| At 1 April 2021 |
10,645,442 |
20,000 |
10,665,442 |
| Additions |
190,786 |
|
190,786 |
| Disposals |
(133,408) |
|
(133,408) |
| Revaluations |
161,912 |
|
161,912 |
| Cash movement |
|
(3,572) |
(3,572) |
| At 31 March 2022 |
10,864,732 |
16,428 |
10,881,160 |
| Net book value |
|
|
|
| At 31 March 2022 |
10,864,732 |
16,428 |
10,881,160 |
| At 31 March 2021 |
10,645,442 |
20,000 |
10,665,442 |
|
2022 |
2021 |
| Trade debtors |
58,266 |
36,195 |
| Other debtors |
131 |
|
| Prepayments and accrued income |
47,927 |
46,602 |
|
106,324 |
82,797 |
|
2022 |
2021 |
| Trade creditors |
100,209 |
92,427 |
| Other taxation and social security |
24,810 |
25,899 |
| Other creditors |
50,472 |
50,090 |
| Accruals and deferred income |
141,528 |
100,440 |
|
317,019 |
268,856 |
|
|
|
|
|
|
Balance at |
|
Balance at 1 |
|
|
Transfers |
Gains/ |
31 March |
|
April 2021 |
Income |
Expenditure |
in/out |
(Losses) |
2022 |
| Unrestricted |
|
|
|
|
|
|
| funds |
|
|
|
|
|
|
| Unrestricted |
|
|
|
|
|
|
| General Fund |
384,417 |
2,407,338 |
(2,467,219) |
129,574 |
|
454,110 |
| Unrestricted |
|
|
|
|
|
|
| Income Fund |
10,665,442 |
293,806 |
|
(240,000) |
161,912 |
10,881,160 |
| Unrestricted |
|
|
|
|
|
|
| Capital Fund |
6,917,067 |
|
(121,800) |
110,426 |
(1,375,000) |
5,530,693 |
|
17,966,926 |
2,701,144 |
(2,589,019) |
|
(1,213,088) |
16,865,963 |
| Restricted |
|
|
|
|
|
|
| funds |
|
|
|
|
|
|
| Restricted Funds |
|
|
|
|
|
|
| −all funds |
|
69,279 |
(69,279) |
|
|
|
| Total o f funds |
17,966,926 |
2,770,423 |
(2,658,298) |
− |
(1,213,088) |
16,865,963 |
| Statement of fu |
nd |
s −prior year |
|
|
|
|
|
|
|
|
|
|
|
|
Balance at |
|
|
Balance at |
|
|
Transfers |
Gains/ |
31 March |
|
|
1 April 2020 |
Income |
Expenditure |
in/out |
(Losses) |
2021 |
|
|
E |
E |
E |
E |
E |
E |
| Unrestricted |
|
|
|
|
|
|
|
| funds |
|
|
|
|
|
|
|
| Unrestricted |
|
|
|
|
|
|
|
| General Fund |
|
456,969 |
2,120,559 |
(2,317,491) |
124,380 |
|
384,417 |
| Unrestricted |
|
|
|
|
|
|
|
| Income Fund |
|
8,870,657 |
311,978 |
|
(140,000) |
1,622,807 |
10,665,442 |
| Unrestricted |
|
|
|
|
|
|
|
| Capital Fund |
|
7,022,076 |
|
(120,629) |
15,620 |
|
6,917,067 |
|
|
16,349,702 |
2,432,537 |
(2,438,120) |
|
1,622,807 |
17,966,926 |
| Restricted |
|
|
|
|
|
|
|
| funds |
|
|
|
|
|
|
|
| Restricted Funds |
|
|
|
|
|
|
|
| −all funds |
|
2,223 |
83,077 |
(85,300) |
|
|
|
| Total of funds |
' |
16,351,925 |
2,515,614 |
(2,523,420) |
|
1,622,807 |
17,966,926 |
| Summary of funds |
|
|
|
|
|
|
|
| **Summary of funds ** |
|
−current year |
|
|
|
|
|
|
|
|
|
|
|
|
Balance at |
|
**Balance at ** |
1 |
|
|
Transfers |
Gains/ |
31 March |
|
April 2021 |
|
Income |
Expenditure |
in/out |
(Losses) |
2022 |
|
|
£ |
£ |
£ |
£ |
£ |
E |
| General funds |
17,966,926 |
|
2,701,144 |
(2,589,019) |
|
(1,213,088) |
16,865,963 |
| Restricted funds |
|
|
69,279 |
(69,279) |
|
|
|
|
17,966,926 |
|
2,770,423 |
(2,658,298) |
|
(1,213,088) |
16,865,963 |
| Summary of funds −prior year |
Summary of funds −prior year |
|
|
|
|
|
|
|
|
|
|
|
Balance at |
|
Balance at |
|
|
Transfers |
Gains/ |
31 March |
|
1 April 2020 |
Income |
Expenditure |
in/out |
(Losses) |
2021 |
|
£ |
£ |
r |
c |
E |
E |
| General funds |
16,349,702 |
2,432,537 |
(2,438,120) |
|
1,622,807 |
17,966,926 |
| Restricted funds |
2,223 |
83,077 |
(85,300) |
|
|
|
|
16,351,925 |
2,515,614 |
(2,523,420) |
|
1,622,807 |
17,966,926 |
|
Unrestricted |
Total |
|
funds |
funds |
|
2022 |
2022 |
|
E |
E |
| Tangible fixed assets |
5,889,145 |
5,889,145 |
| Fixed asset investments |
10,881,160 |
10,881,160 |
| Current assets |
412,677 |
412,677 |
| Creditors due within one year |
(317,019) |
(317,019) |
| Total |
16,865,963 |
16,865,963 |
| Analysis of net assets between funds −prior year |
|
|
|
Unrestricted |
Total |
|
funds |
funds |
|
2021 |
2021 |
| Tangible fixed assets |
4,458,647 |
4,458,647 |
| Fixed asset investments |
10,665,442 |
10,665,442 |
| Investment property |
2,825,000 |
2,825,000 |
| Current assets |
286,693 |
286,693 |
| Creditors due within one year |
(268,856) |
(268,856) |
| l |
17,966,926 |
17,966,926 |
|
|
|
|
|
|
|
|
2022 |
2021 |
Net
income/expenditure
for |
the |
year |
(as |
per |
Statement |
of |
Financial |
|
|
| Activities) |
|
|
|
|
|
|
|
(1,100,963) |
1,615,001 |
| Adjustments for: |
|
|
|
|
|
|
|
|
|
| Depreciation charges |
|
|
|
|
|
|
|
179,716 |
174,096 |
| Losses/(gains) on investments |
|
|
|
|
|
|
|
1,213,088 |
(1,622,552) |
| Dividends, interests and rents |
from |
investments |
|
|
|
|
|
(293,904) |
(312,277) |
| (Increase)/decrease in debtors |
|
|
|
|
|
|
|
(23,527) |
53,561 |
| Increase in creditors |
|
|
|
|
|
|
|
68,161 |
1,019 |
| **Net cash provided by/(used ** |
**in) by operating ** |
|
|
activities |
|
|
|
42,571 |
(91,152) |
| Analysis of cash and cash equivalents |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2022 |
2021 |
| Cash in hand |
|
|
|
|
|
|
|
306,353 |
203,896 |
| Notice deposits (less than 3 months) |
|
|
|
|
|
|
|
16,428 |
19,998 |
| Total cash and cash equivalents |
|
|
|
|
|
|
|
322,781 |
223,894 |
|
At 1 April |
|
At 31 March |
|
2021 |
Cash flows |
2022 |
| Cash at bank and in hand |
203,896 |
102,457 |
306,353 |
| Notice deposits (less than 3 months) |
20,000 |
(3,572) |
16,428 |
|
223,896 |
98,885 |
322,781 |
|
2022 |
2021 |
| Contracted for but not provided in these financial statements |
|
|
| Purchase, construction or development of investment property |
|
33,240 |
|
2022 |
2021 |
| Not later than 1 year |
12,710 |
14,638 |
| Between 1 and 5 years |
1,320 |
11,390 |
|
14,030 |
26,028 |
|
|
|
|
Amount due (to)/from |
Amount due (to)/from |
| Related party |
Transaction |
Amount |
|
related parties |
|
|
|
2022 |
2021 |
2022 |
2021 |
|
|
£ |
£ |
£ |
£ |
| Company with common |
Consultancy |
6,400 |
6,400 |
|
|
| director |
|
|
|
|
|