The Chartley Foundation
REPORT AND FINANCIAL STATEMENTS
31 Lkcember 2020
| TRUSTEES'ANNUALREPORT |
|
| STATEMENTOFTRUSTEES'RESPONSIBILITIES |
5 |
| INDEPENDENTAUDITORSREPORT |
6 |
| STATEMENTOFFINANCIALACTIVITIES |
10 |
| BALANCESHEET |
11 |
| STATEMENTOFCASHFLOWS |
12 |
| ACCOUNTINGPOLICIES |
13 |
| NOTESTOTHEFINANCIALSTATEMENTS |
15 |
| APPENDIXI |
20 |
| CharityNumber |
l154637 |
| CompanyNumber |
8686083 |
| Status |
The ChartleyFoundationisa companylimited by guarantee |
| Trustees/CompanyDirectors |
OEDJohnson |
|
AAReeves |
|
FMWFitzherbertBaronStafford |
|
REPoole |
| Auditors |
RSMUK AuditLLP |
|
StPhilipsPoint |
|
TempleRow |
|
Binningham |
| Bankers |
Handelsbankenple |
|
lLakeside |
|
FestivalPark |
|
Stoke-on-Trent |
| LegalAdvisers |
FreethsLLP |
|
FederationHouse |
|
StationRoad |
|
Stoke-on-Trent |
| InvestmentManagers |
SorbusPartnersLLP |
|
41aEastgate Street |
|
Stafford |
| RegisteredOffice |
ChartleyHall |
|
Stafford |
|
|
|
|
|
Total |
|
|
|
|
Total |
YearEnded |
|
|
Unrestricted |
Endowment |
31December |
31December |
| INCOME |
Note |
Funds |
Funds |
2020 |
2019 |
|
|
£ |
£ |
£ |
£ |
| Investmentincome |
|
208,460 |
|
208,460 |
341,799 |
| TOTALINCOME |
|
208,460 |
|
208,460 |
341,799 |
| Charitableactivities |
2 |
285,996 |
|
285,996 |
92,752 |
| Investmentmanagementcosts |
3 |
|
78,528 |
78,528 |
77,082. |
| TOTAL EXPENDITURE |
|
285,996 |
78,528 |
364,524 |
169,834 |
| Netgainsoninvestments |
5 |
|
65,921 |
65,921 |
1,055,424 |
| NETINCOMEANDNET |
|
|
|
|
|
| MOVEMENTINFUNDS |
|
|
|
|
|
| FORTHEYEAR |
9 |
(77,536) |
(12,607) |
(90,143) |
1,227,389 |
| Totalfundsbroughtforward |
|
922,675 |
10,025,328 |
10,948,003 |
9,720,614 |
| TOTALFUNDS CARRIED |
|
|
|
|
|
| FORWARD |
9 |
845,139 |
10,012,721 |
10,857,860 |
10,948,003 |
|
|
2020 |
2019 |
|
Note |
£ |
£ |
| FIXED ASSETS |
|
|
|
| InvestmentFund |
5 |
10,012,721 |
10,025,328 |
| CURRENTASSETS |
|
|
|
| Cashatbankandinhand |
|
1,267,238 |
1,349,828 |
| LIABILITIES |
|
|
|
| Creditorsfallingduewithin oneyear |
6 |
(337,312) |
(398,739) |
| Netcurrentassets |
|
929,926 |
951,089 |
| Totalassetslesscurrentliabilities |
|
10,942,647 |
10,976,417 |
| Creditorsfallingdueafteroneyear |
7 |
(84,787) |
(28,414) |
| TOTALNETASSETS |
|
10,857,860 |
10,948,003 |
| THEFUNDSOFTHECHARITY |
|
|
|
| Endowmentfunds |
9 |
10,012,721 |
10,025,328 |
| Unrestrictedfunds |
9 |
845,139 |
922,675 |
| TOTALCHARITYFUNDS |
9 |
10,857,860 |
10,948,003 |
|
|
2020 |
2019 |
|
Note |
£ |
£ |
| CASHFLOWS FROMOPERATING ACTIVITIES |
|
|
|
| Net(expenditure)incomeforthe reportingperiod |
|
(90,143) |
1,227,389 |
| lnvestmentlosses |
|
(65,921) |
(I ,055,424) |
| (Decrease)/increase/increditors |
6&7 |
(5,054) |
(63,196) |
| Investmentincomereceived |
|
(208,460) |
(341,799) |
| NETCASHUSED IN OPERATINGACTIVITIES |
|
(369,578) |
(233,030) |
| CASHFLOWSFROMINVESTING ACTIVITIES: |
|
|
|
| Investmentincome |
|
208,460 |
341,799 |
| Proceedsfromsaleofinvestments |
|
2,713,260 |
1,418,699 |
| Purchaseofinvestments |
|
(3,098,464) |
(582,009) |
| Cashinvestment |
|
463,732 |
(759,608) |
| NETCASHFROMINVESTING ACTIVITIES |
|
286,988 |
418,881 |
| Decreaseincashandcash |
|
|
|
| Equivalentsinthereportingperiod |
|
(82,590) |
185,851 |
| Cashandcashequivalentsatthebeginningofthe |
|
|
|
| reportingperiod |
|
1,349,828 |
1,163,977 |
| CASHANDCASHEQUIVALENTSATTHEEND |
|
|
|
| OFTHEREPORTNGPERIOD |
|
1,267,238 |
1,349,828 |
|
|
Yearended |
Yearended |
|
|
31December |
31December |
|
|
2020 |
2019 |
|
|
£ |
£ |
|
Equities
Bonds |
203,276
3,663 |
307,856
31,882 |
|
Cash |
1,521 |
2,061 |
|
Total |
208,460 |
341,799 |
| 2 |
EXPENDITUREON:CHARITABLEACTIVITIES |
|
|
|
UNRESTRICTED |
|
|
|
|
Yearended |
Yearended |
|
|
31December |
31December |
|
|
2020 |
2019 |
|
|
£ |
£ |
|
**Grants awarded: ** |
|
|
|
Game&WildlifeConservationTrust |
65,649 |
(1,650) |
|
StaffordshireCricket |
50,000 |
(12,780) |
|
RoyalForestrySociety |
|
(1,900) |
|
StokeAthletic |
75,000 |
4,200 |
|
NewVicTheatre |
70,800 |
|
|
OutwardBoundTrust |
5,000 |
81,090 |
|
Total |
266,449 |
68,960 |
|
SupportCosts:
Officeservices |
9,600 |
12,000 |
|
Insurance |
1,070 |
1,336 |
|
Bankcharges |
377 |
376 |
|
AuditandTaxationfees |
8,500 |
10,080 |
|
|
19,547 |
23,792 |
|
Total |
285,996 |
92,752 |
| 2 |
EXPENDITUREON:CHARITABLEACTIVITIES |
|
|
|
UNRESTRICTED(continued) |
|
|
|
|
2020 |
2019 |
|
|
£ |
£ |
|
**Grants committed analysis ** |
|
|
|
Grants committed1January2020 |
417,673 |
473,474 |
|
Existinggrantreductions |
|
(17,557) |
|
Grantscommittedinyear |
266,449 |
86,517 |
|
|
266,449 |
68,960 |
|
Existinggrantspaid |
(120,419) |
(124,761) |
|
Newgrantspaid |
(150,224) |
|
|
|
(270,643) |
(124,761) |
|
Grantscommitted 31December2020 |
413,479 |
417,673 |
| 3 |
INVESTMENTMANAGEMENTCOSTS- |
|
|
|
ENDOWMENTFUNDEXPENDITURE |
|
|
|
|
Yearended |
Yearended |
|
|
31December |
31December |
|
|
2020 |
2019 |
|
|
£ |
£ |
|
Sorbus/CharlesStanleyinvestmentmanagercosts |
78,528 |
77,082 |
|
NETINCOME/EXPENDITUREFORTHEPERIOD |
|
|
|
Netincome/expenditureisarrivedatafter chargingthefollowing: |
|
|
|
Auditor'sremuneration |
8,500 |
8,520 |
|
Nonauditservicestaxation(toreview) |
|
1,560 |
|
|
8,500 |
10,080 |
|
2020 |
2019 |
| Quotedinvestments |
£ |
£ |
| FairvalueIJanuary2020 |
10,025,328 |
9,046,986 |
| Gains |
65,921 |
1,055,424 |
| Purchaseofinvestments |
3,098,464 |
582,009 |
| Saleofinvestments |
(2,713,260) |
(1,418,699) |
| Cash(decrease)increase |
(463,732) |
759,608 |
| Fairvalue ar31December2020 |
10,012,721 |
10,025,328 |
|
2020 |
2019 |
|
£ |
£ |
| Analysisofinvestmentsbytype |
|
|
| Cash |
297,600 |
761,332 |
| Bonds |
220,689 |
853,858 |
| Equities |
8,349,409 |
7,150,839 |
| Property |
324,650 |
385,753 |
| Commodities |
820,373 |
873,546 |
| Total |
10,012,721 |
10,025,328 |
|
2020 |
2019 |
|
£ |
£ |
| Accruals |
8,620 |
9,480 |
| Grantsfallingduewithinoneyear |
328,692 |
389,259 |
|
337,312 |
398,739 |
| CREDITORS:Amountsfallingdueafteroneyear |
|
|
|
2020 |
2019 |
|
£ |
£ |
| Grantspayableafteroneyear |
84,787 |
28,414 |
|
1January |
Income |
Expenditure |
Netgains |
31December |
|
2020 |
£ |
£ |
£ |
2020 |
|
£ |
|
|
|
£ |
| EndowmentFund |
10,025,328 |
|
(78,528) |
65,921 |
10.012,721 |
| UnrestrictedFunds |
922,675 |
208,460 |
(285,996) |
|
845,139 |
| TOTALFUNDS |
10,948,003 |
208,460 |
(364,524) |
65,921 |
10,857,860 |
|
Investments |
Cashat |
Creditors |
NetAssets |
|
£ |
bank |
£ |
£ |
|
|
£ |
|
|
| UnrestrictedFunds |
|
1,267,238 |
(422,099) |
845,139 |
| EndowmentFund |
10,012,721 |
|
|
10,012,721 |
| Totalnetassets |
10,012,721 |
1,267,238 |
(422,099) |
10,857,860 |
|
2020 |
Future |
|
GrantsPaid |
Commitments |
| Grantsandcommitments |
£ |
£ |
| SCYP |
20,000 |
|
| StaffordshireCricket(2years) |
|
50,000 |
| TheOutwardBoundTrust |
103,093 |
248,991 |
| GWCTtertiaryeducation |
51,750 |
13,899 |
| RoyalForestrySociety |
|
15,800 |
| StokeAthletics |
25,000 |
84,789 |
| New VicTheatre |
70,800 |
|
| Totalcommitments |
270,643 |
413,479 |
|
£ |
|
|
Since2014 |
|
| Grantspaid |
|
|
| 2014 |
20,000 |
|
| 2015 |
80,000 |
|
| 2016 |
121,440 |
|
| 2017 |
157,407 |
|
| 2018 |
239,177 |
|
| 2019 |
124,761 |
|
|
742,785 |
|
| 2020 |
270,643 |
|
|
1,013,428 |
|
| Commitmentsat31December2020 |
413,479 |
|
|
1,426,907 |
|
| Total |
|
|