##
||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|
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|||**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||||
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||**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||||
##
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##
##
||**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|
##
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##
||**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|
##
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|||||||||**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**|
##
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##
||**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|
##
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##
|||||**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||||||