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2021-12-31-accounts

Page
Charity Information
Trustees'
Report		 3-8
Report ofthe independent auditor 9-11
Statement offinancial activities 12-13
Balance sheet 14
Statement ofCash Flows 15
Notes to the accounts 16-25

We have nothing to report in respect ofthe following
matters in relation		 We have nothing to report in respect ofthe following
matters in relation		 We have nothing to report in respect ofthe following
matters in relation		 to which the Companies to which the Companies Act 2006requires us to report us to report
to you if, in our opinion:
adequate
accounting
records have not		 been kept, or returns adequate
for our audit		 have not been received
from
branches
not visited by us; or
the financial
statements
are not in agreeinent		 with the accounting records and returns; or
certain disclosures oftrustees'
remuneration		 specified by law are not made; or
we have not received all the infortnation and explanations
we		 require for our audit; or
the trustees were not entitled toprepare the financial
statements		 in accordance with the small companies' regime and
take advantage
ofthe smafi companies'		 exemptions
in preparing		 the trustees
report		 and &om the requirement to
prepare a strategic report.

Butchers and Drovers Charitable Institution INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BUTCHERS AND DROVERS CHARITABLE LNSTITUTION Identifying And i¢stinB journal entries, irt porticular 8ny journal ￿tri¢s PO8t¢d with unusual account combinations. B¢¢4us¢ of the tnhcrcnt limittttions of art audit. thcrc is a risk that w¢ will not detect all i￿egularl11e5, inLluding th05¢ Irudin8 Iv A matetial migslatcment in Ihc fiDan¢iyl or non-complianr¥ with rcgulaiion. This risk incr¢4scs the m(￿, that wnpliAnL With a law or r¢gultttson 1$ r¢m4)VLd from the ev¥nl8 &fKi transacli(>ns reAceted in ihc finan¢iul slitemenis, &8 WC will b¥ likcly lo b￿Ome awa￿ of in5tanccs of nvn-¢ompliance. The risk 1$ a150 ST¢aterre8Arding 1rrcgularitl￿ ￿¢1)Mn￿ due to fraud r&ther than em)r. as fraud invtslves intentional ¢Dftcc&lm￿t. forg￿1 collu¥ion, omi8sion ormi8rcpres¢nt4ri0n. A further descrI￿10n of our ro8ponsibilili¢s is available on th¢ Finoncial R¢p(Jrting Council's web8ite &t-. http.'l/www.frc.org.uWOuT-WorklAudiLIAudit-and-asSUTlln¢GIStandunls.artd.8uithcelSiandards-and-guidonEtrfur- AudithrxlAuditors-rcsporL¥ibilitiC¥-for-uudiLIDe8uipiion-nf-&uditOTS-rwuA￿bill1ies-f0r-ll￿d1l.ll￿P￿. Ubt of our report Thi¥ ￿P)rt i¥ Jnode solely to the charitabl¢ L'omp&ny's Membe￿ as a tx>dy. in i¢¢ord8rt￿ with Chdpler 3 of Part 16 of the Compani¢$ A¢t 2006. Our Audil work has undertaken so that wc might ¥14ie LO the chariiablc company'y mcmbrr¥ th(Ise mai¢LA we tsre Tequlrcd 10 slat¢ lu thLTh ID an audiinr's report and for no oiherpurpo8¢. To th¢ tiille8iextent PeTTnitttyJ by law. w¢ ¢Jv nui d¢¢wi or x%sume Te4ponsibility to &nyonL othLYthdn thechHril8bl¢ rotnpany and th¢ chthritdblc compwiy'$ m¢mb¢ h0dyF for our Audit work. for this T¢POrt, tsr for the opinions we have fi￿l¥l. JMniLe Matthews FCA IS¢nior Statutory Auditor) For and on bchulf ol. ML￿/￿eS LLI) A¢¢ountattts S￿tu10ry Audilur C￿(T￿M Ilouse 36 Ststion Ro Surrky TW20 9LF Date...... 2DIL Page 11

Notes Unrestricted Restricted Permanent Year Year
General Fund Endowment Ended ended
Fund Fund 31/12/21 31/12/20
INCOME AND ENDOWMENTS
FROM:
Donations
and Legacies		 50 50 1,907
Charitable
Activities		 94,124 94,124 94,124
Other Trading Activities - Fundraising
Investment
Income		 7,822 366,414 374,236 323,570
Other Income 2,658 20,207 22,865 20,236
Total Income 10,530 480,745 491,275 439,837
EXPENDITURE ON:
Raising Funds 2/4 43,593 43,593 34,440
Charitable
Activities		 5 18,300 320,658 338,958 345,357
Other 7 22,879 22,879 29,896
Total Expenditure 18,300 387,130 405,430 409,693
Net gains/(losses) on investments 9 26,758 1,253,512 48,979 1,329,249 (31,327)
Net Income/
(ex'penditure)		 18,988 1,347,127 48,979 1,415,094 (1,183)
Other Recognised Gains/(Losses):
Gains/ (losses) on revaluation ofFixed 146,750
Assets
Net movement
in		 funds 18,988 1,347,127 48,979 1,415,094 145,567
Reconciliation
of		 funds:
Total Funds brought
forward I January		 307,752 14,006,194 441,646 14,755,592 14,610,025
Total Funds carried forward 31 326,740 15,353,321 490,625 16,170,686 14,755,592
December

Notes Unrestricted Restricted Permanent Year
General Fund Endowment ended
Fund Fund 31/12/20
INCOME AND ENDOWMENTS
FROM:
Donations
and Legacies		 1,907 1,907
Charitable
Activities		 94,124 94,124
Other Trading Activities
Investment
Income		 -Fundraising 6,957 316,613 323,570
Other Income 1,896 18,340 20,236
Total Income 10,760 429,077 439,837
EXPENDITURE ON:
Raising Funds
Charitable
Activities		 2/4
5		 812
15,850		 33,628
329,507		 34,440
345,357
Other 7 29,896 29,896
Total Expenditure 16,662 393,031 409,693
Net gains/(losses)
on investments		 (648) (29,483) (1,196) (31,327)
Net Income/(Expenditure) (6,550) 6,563 (1,196) (1,183)
Other Recognised Gains/(Losses)
Gains/(Losses)
on Revaluation of		 146,750 146,750
Fixed Assets
Net movement
in funds		 (6,550) 153,313 (1,196) 145,567
Funds brought forward I January 314,302 13,852,881 442,842 14,610,025
Funds carried forward 31 December 307,752 14,006,194 441,646 14,755,5'92

Notes Year Year
ended ended
31/12/21 31/12/20
FIXEDASSETS
Tangible assets 8 2,460,000 2,460,000
Investments 9 13,320,188 11,990,938
Total Fixed Assets 15,780,188 14,450,938
CURRENT ASSETS
Debtors 10 93,739 89,196
Cash at bank k.in hand 407,891 324,063
Total Current Assets 501,630 413,259
CREDITORS:
Amounts		 falling due within one year (111,132) (108,605)
NET CURRENT ASSETS 390,498 304,654
TOTAL ASSETSLESSCURRENT LIABILITIES 16,170,686 14,755,592
THE FUNDS OFTHE CHARITY
Permanent
Endowment		 12 490,625 441,646
Resntcted Fund 13 15,353,321 14,006,194
Unrestricted
General Fund		 14 326,740 307,752
16,170,686 14,755,592
2021 2020
Cash flows from operating Activities
Net (Expenditure)/Income
for the year		 85,845 30,144
Adjustments
for:
Investment
Income		 (374,236) (323,570)
(Increase)/Decrease
in debtors		 (4,543) 55,022
Increase in Creditors 2,527 38,923
Net cash (used in) operating
activities		 (290,407) (199,481)
Cash flows from investing activities
Purchase ofInvestments (500,000)
Interest and Dividends
and		 Rent I'rom Investments 374,236 323,570
Net cash from investing
activities		 374,236 (176,430)
Change in cash and cash equivalents in the year 83,828 (375,911)
Cash and cash equivalents at beginning ofthe year 324,063 699,974
Cash and cash equivalents at end ofthe year 407,891 324,063

Year Year
ended ended
31/12/21 31/12/20
INCOME
Donations, Legacies and Gifts 50 1,907
Fundraising Activities
EXPENDITURE
Direct Costs ofFundraising Activities (8,097) (2,418)
Investment Management Costs (29,833) (26,359)
Support Costs ofFundraising Activities (see note 4) (5,663) (5,663)
(Deficit) arising (43,543) (32,533)
INVESTMENT INCOME
Year Year
ended ended
31/12/21 31/12/20
6 6
Income &om equities 234,590 190,821
Income &om fixed interest securities 5,866 607
Income from Common Investment Funds 133,780 132,142
Bank Interest
374,236 323,570

charity).
M		 anagement
costs apportioned
as follows, b		 ased on stafftime:
f,
Charitable Expenditure 60 16,992
Fundraising activity 20 5,663
Other - Governance 20 5,663
100 28,318

Year Year
ended ended
31/12/21 31/12/20
Cost Type Charitable Support Costs Total Total
Activity
Smoothfield Homes (see note 6) 77,581 5,664 83,245 91,969
Ongoing financial support 139,300 3,776 143,076 135,676
payments
One-off Grants to individuals 63,225 4,248 67,473 69,242
Education Grants 16,860 1,416 18,276 20,816
Bursary Scheme 25,000 1,888 26,888 27,654
321,966 16,992 338,958 345,357

Year
ended
31/12/20
Cost Type Charitable Support Costs Total
Activity
Smoothfield Homes (see note 6) 86,305 5,664 91,969
Ongoing
financial		 support 131,900 3,776 135,676
payments
One-off Grants to individuals 64,994 4,248 69,242
Education Grants 19,400 1,416 20,816
Bursary Scheme 25,766 1,888 27,654
328,365 16,992 345,357

6 ANALY SIS OF CH ARITA BLE AC TIVITY AT SMOOTHF IELD HOMES
Year Year
ended ended
31/12/21 31/12/20
Pmperty expenses 60,613 69,463
Agency management 16,968 16,842
77,581 86,305
7 OTHER - GOVERNANCE COSTS
Year Year
ended ended
31/12/21 31/12/20
Bank charges 260 262
Audit fees 12,000 14,400
Meeting Costs and Sundry Expenditure 3,215 3,716
20%apportionment ofmanagement charges 5,663 5,663
Other professional fees 1,741 5,855
22,879 29,896
8 TANGIBLE FIXEDASSETS
(Leasehold Property) Year Year
ended Ended
31/12/21 31/12/20
COST/Revaluation
Brought forward at 1 January 2,460,000 2,313,250
Disposal
Revaluation 146,750
Carried forward at 31December 2,460,000 2,460,000
Land and Bu ildings
2021 2020
Cost 2,313,250 2,313,250
Accumulated Depreciation (182,822) (137,676)
Accumulated Impairments
Carrying
Amount		 ~4 ~21
4
9 INVESTMENTS Year Year
ended ended
31/12/21 31/12/20
Market value at 1 January (less opening cash) 11,252,488 10,823,142
Additions 1,377,009 1,112,740
Disposals (684,340) (652,067)
Gain/(loss)
upon disposal		 and revaluation ofinvestments ~13 9249 ~31327
13274 4I36 11252488
Retained cash for re-investment 45,782 738,450
Market value at 31December
0/ 2021 2020
Analysis ofInvestments
Quoted investments
at market		 value
Fixed interest 1 133,536 0 0
Equities 60 7,976,599 55 6,553,595
Common Inv. Fund —Equity based 31 4,193,776 30 3,660,006
Common Inv. Fund —Fixed Interest 7 970,495 9 1,038,887
Cash retained for re-investment I 45,782 6 738,450
Market Value at 31December 100 13,320,188 100 11,990,938
Analysis oflisted Investments forming more Market %of Market %of
than 4%ofthe portfolio: value portfolio value portfolio
2021 2021 2020 2020
CCLA COIF Fixed Interest Fund 970,495 7.3 1,038,887 8.7
CCLA COIF Equity Fund 1,039,660 7.8 897,731 7.5
CCLA COIF Charity Investment Fund 3,154,116 23.7 2,762,275 23.0
10 DEBTORS
Due afte
snore than one		 ear Year Year
ended ended
31/12/21 31/12/20
Other debtors 25 628 32889
25 628 32889
O~U Year Year
ended ended
31/12/21 31/12/20
Trade debtors 1,800
Other debtors 10,465 7,261
Prepayments and Accrued Income 57,646 47,246
68,111 56,307

CREDIT
one year		 ORS: Amounts
falling due within
Year Year
ended ended
31/12/21 31/12/20
Trade Creditors 6,347 1,790
Pledged grants not paid 26,800 30,210
Accruals and Other Creditors 77985 76605
111,132 108,605

Movement
Balance at in funds Balance at
01/01/21 Gains/(losses) 31/12/21
f.
George and Mabel Inez Clayton Fund 441,646 48,979 490,625

Balance at Incoming Resources Outgoing Resources Gains and Balance at
01/01/21 losses 31/12/21
14,006,194 480,745 (387,130) 1,253,512 15,353,321

Balance at Incoming Resources Outgoing Resources Gains and Balance at
01/01/2021 losses 31/12/21
307,752 10,530 (18,300) 26,758 326,740

15
FUNDS		 Endowment Restricted Unrestricted Education 2020 Total
(2014)
Balance at 01/01/21 441,646 14,006,194 307,752 14,755,592
Income 480,745 10,530 491,275
Expenditure (370,270) (18,300) (16,860) 405,430
Allocation to (16,860) 16,860
Education
Sub Total 93,615 (7,770) 85,845
Gains/(Losses) on 48,979 1,253,512 26,758 1,329,249
Investment
Revaluation
Gains/(Losses) on
Fixed Assets
Balance at 31/12/21 490,625 15,353,321 326,740 16,170,686
ASSETSBY FUND
FUNDS Tangible Fixed Investments Net Current Total
Assets Assets
Restricted 2,460,000 12,829,563 63,758 15,353,321
General 326,740 326,740
Endowment 490,625 490,625
Total Funds 2,460,000 13,320,188 390,498 16,170,686