|||Page|
|---|---|---|
|Charity Information|||
|Trustees'<br>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|








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|We have nothing to report in respect ofthe following<br>matters in relation|We have nothing to report in respect ofthe following<br>matters in relation|We have nothing to report in respect ofthe following<br>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<br>accounting<br>records have not|been|kept, or returns|adequate<br>for our audit||have not been received<br>from|||
|branches<br>not visited by us; or||||||||
|the financial<br>statements<br>are not in agreeinent||with the accounting||records and returns;|or|||
|certain disclosures oftrustees'<br>remuneration||specified by law|are|not made; or||||
|we have not received all the infortnation|and|explanations<br>we|require for our audit; or|||||
|the trustees were not entitled toprepare|the financial<br>statements||in|accordance with the|small companies'|regime|and|
|take advantage<br>ofthe smafi companies'|exemptions<br>in preparing|||the trustees<br>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¢L*A 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<br>and Legacies|||50|||50|1,907|
|Charitable<br>Activities||||94,124||94,124|94,124|
|Other Trading Activities - Fundraising||||||||
|Investment<br>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<br>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/<br>(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<br>in|funds||18,988|1,347,127|48,979|1,415,094|145,567|
|Reconciliation<br>of|funds:|||||||
|Total Funds brought<br>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||||||||





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## 

|||Notes|Unrestricted|Restricted|Permanent|Year|
|---|---|---|---|---|---|---|
||||General|Fund|Endowment|ended|
||||Fund||Fund|31/12/20|
|INCOME AND ENDOWMENTS|||||||
|FROM:|||||||
|Donations<br>and Legacies|||1,907|||1,907|
|Charitable<br>Activities||||94,124||94,124|
|Other Trading Activities<br>Investment<br>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<br>Charitable<br>Activities||2/4<br>5|812<br>15,850|33,628<br>329,507||34,440<br>345,357|
|Other||7||29,896||29,896|
|Total Expenditure|||16,662|393,031||409,693|
|Net gains/(losses)<br>on investments|||(648)|(29,483)|(1,196)|(31,327)|
|Net Income/(Expenditure)|||(6,550)|6,563|(1,196)|(1,183)|
|Other Recognised Gains/(Losses)<br>Gains/(Losses)<br>on Revaluation of||||146,750||146,750|
|Fixed Assets|||||||
|Net movement<br>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:<br>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<br>Endowment||12|490,625|441,646|
|Resntcted Fund||13|15,353,321|14,006,194|
|Unrestricted<br>General Fund||14|326,740|307,752|
||||16,170,686|14,755,592|





|||||2021|2020|
|---|---|---|---|---|---|
|Cash flows from operating|Activities|||||
|Net (Expenditure)/Income<br>for the year||||85,845|30,144|
|Adjustments<br>for:||||||
|Investment<br>Income||||(374,236)|(323,570)|
|(Increase)/Decrease<br>in debtors||||(4,543)|55,022|
|Increase in Creditors||||2,527|38,923|
|Net cash (used in) operating<br>activities||||(290,407)|(199,481)|
|Cash flows from investing|activities|||||
|Purchase ofInvestments|||||(500,000)|
|Interest and Dividends<br>and|Rent I'rom Investments|||374,236|323,570|
|Net cash from investing<br>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|





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|||||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).<br>M|anagement<br>costs apportioned<br>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<br>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<br>Amount||~4|~21<br>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)<br>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<br>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<br>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<br>one year|ORS: Amounts<br>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<br>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|



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