## ## |Contents||Page|| |---|---|---|---| |Report ofthe Trustees||1-5.|'| |Independent
Auditor's|Report|6-9|| ||I||| |Statement ofFinancial|Activities (including||| |Income and Expenditure|Account)|10|| ||)||| |Balance Sheet|||| |Notes to the Accounts||12-21|| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |James Harpe
(Senior Statutory Auditor)|James Harpe
(Senior Statutory Auditor)| |---|---| |:Forand on behalf of|| |Harper Sheldon Limited
Chartered
accountants. k statutory|auditor| |Midway House|| |Staverton Technology Park|| |Herrick Way, Staverton|| |Cheltenham,
Glos,|| |GL516TQ|| ## ## ## |INCOME AND ENDOWMENTS
FROM:|Note|Unrestricted
funds|Restricted
funds|Total
2020|Total
2019| |---|---|---|---|---|---| |Donations and legacies
Charitable
activities,
Investments|4
5
6|3,235,466
84,595
10,708|28,302
2,842|3,263,768'
87,437
10708|186,961
123,335
59 114| |Total income and endowments||3,330,769|31,144|3,361,913|369,410| |EXPENDITURE ON:|||||| |Expenditure
on raising funds:
Expenditure
on charitable activities|, 7|(14,607)
(177,610)|(39,267)|(14,607)
(216,877)|(31,801)
(173,886)| |Total expenditure||(192,217)|(39,267)|(231,484)|(205,6$7)| |Net income / (expenditure)||3,13$,552|(8,123)|3,130,429|163,723| |Transfers between
funds
Other recognised
gains/(losses):||(10,000)|10,000||| |Gains/(losses)
on revaluation ofinvestment|||||| |assets||101,633||101,633|(13,757)
'| ||||||l| |NET MOVEMENT IN FUNDS||3,230,185|1,877|3,232,062|149,966| |Reconciliation offunds:|||||| |Total funds brought forward||1,622,010|272,707|1,894,717|1,744,751| |Total funds carried forward||4,852,195|274,584|5,126,779|1,894,717| ## ## |FIXEDASSETS|||Notes|2020|||2019| |---|---|---|---|---|---|---|---| |Tangible fixed assets
Investments|||8
9|987,063
3,831,693|||763,271
930,216| |||||4,818,756|||1,693,487| |CURRENT ASSETS|||||||| |Stocks
Debtors|||10|39,078
17,089|||40,926
6,150| |Cash at bank and in|hand|||260,990|||174,222| |||||317,157|||221,298| |Creditors: amounts|falling due|||(9,134)|||(20,068)| ||||||I||| |within one year|||||||| |Net current assets||||308,023|||201,230| |Total assets less current liabilities||||5,126,779|||1,894,717| |NET ASSETS||||5,126,779|||1,894,717| |Restricted funds|||12|274,584|||272,707| |Unrestricted
funds
General fund|||13|3,854,213|||613,966| |Designated
fund —maintenance
repairs||and||338,407|||348,469| |Fair value reserve||||659,575|||659,575| |TOTAL CHARITY FUNDS||||5,126,779||'|1,894,717| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |2,
RELATED PARTY TRANSACTIONS|AND TRUSTEES'|AND TRUSTEES'|EXPENSES AND REMUNERATION|EXPENSES AND REMUNERATION| |---|---|---|---|---| |The Trustees all give &eely their time and expertise without
any form ofremuneration
or other benefit in cash or kind
(2019:anil). Expenses paid to the trustees in the year totalled KNil (2019:KNil).||||| |3.
AUDIT / INDEPENDENT EXAMINERS|REMUNERATION|||| ||||2020
1|2019'| |Auditor
/ Independent
examiners
remuneration
comprises:
Audit
/ Independent
examiners
services
Management
accounts, other and software transition
Payroll bureau services including
furlough
claims|||3,420
5,406
2 145
10,971|3,400
1 101
4,501| |4.
DONATIONS
AND LEGACIES||||| ||||2020|2019| |Church Street Charitable
Trust
NACM - archive ofcider pomology
The Herefordshire'Community
Foundation —Becket Bulmer fund
EFBulmer Benevolent Fund
Miss AG Bulmer
PCC Holy Trinity Church
Gillian Bulmer Charitable
Trust
Community
Art Project —Herefordshire
Council
THE APPLE WORLD —Hereford City Council
THE APPLE WORLD —Ait Fund with Weston Loan Programme
THE APPLE WORLD -East Mailing Trust|||15,000
2,500
14,651
175,150
4,000
3,033,272
377
3,000
14,025|16,000
2,500
14,566
500 '
85,066
2,750
3,800
8,443
5,000| |THE APPLE WORLD -Heineken
John Ellerman Foundation
Community
First
Sundry donations
and gift aid|||400
1,393|42,000
2,000
4,336| ||||3,263,768|186,961| |CHARITABLE ACTIVITIES||||| ||||2020|2019| |Museum
shop, cafe, room hire and orchard income
Museum
admissions|||48,222
9,714|92,827
30,508| |Covid-19 grants|||29,501|| ||||87,437|123,335| |6.
INCOME FROM INVESTMENTS||||| ||||2020|2019| ||||K|| |Listed investments
income
Realised (loss)/profit
on the sale ofCazenove Investments|||84,025
(73,317)|25,054
34,060| ||||10,708|59,114| ## ## ## |7.
,
EXPENDI|T~ ON|C|HARI|TABLE ACTIVITIES|||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |||||||2020||2019|||| |Governance costs:|||||||||||| |Museum director salary and bookkeepers
charges
Telephone
and internet costs
Auditor/Independent
examiners
remuneration
Legal and professional
fees
Depreciation
Bank charges||||||40,882
1,543
10,971
8,998
2,454
604||39,686
1,350
4,501
4,999
1,891
942|'||| |Administrative
costs:|||||||||||| |I
I '|||||||||||| |||||||||f|||| |Premises costs
Motor and travel costs||||||44,321
398||44,135
529|||| |Printing,
stationery
and
Exhibits and equipment
Depreciation
Sundry expenses|advertising|||||$,824
33,628
16,000
2,235||4,382,
2,816
16,000
1,000|||| |Staffcosts:|||||||||||| |Wages and salaries
Social security costs
Pension costs|||||, .|..48,246, .
992
781|,|50,361
, 552
742|||| |||||||||||I|| |||||||216,877.|1735886||||| |The average number ofemployees,|||calculated on a full-time equivalent||basis,|analysed by function,||was;|||| |||||||2020||2019|||| |Governance
staff
Other staff||||||2
11||11|||II,| |||||||13||13|||| ## ## ## |8.
TANGIBLE FIXEDASSETS||||| |---|---|---|---|---| ||Freehold|Plant and|Total|| ||property|machinery||| |COST ORVALUATION||||| |Balance at 1October 2019
Additions|800,000
240,000|143,504
2,454|943,504
242,454|"| |Revaluations||||| |Balance at 30September 2020|1,040,000|145„958|1,185,958|| |ACCUMULATED DEPRECIATION||||| |Balance at 1October 2019|88,000|92,233|180,233|.| |Charge for the year|16,000|2,662|18,662|| |Revaluation
adjustments||||| |Balance at30September 2020|104,000|94,895|198,895|| |NET BOOK VALUE||||| |At 30September 2020|936,000|51,063|987,063|| |At 30September 2019|712,000|51,271|763,271|| ## ## |9,
FIXEDASSETINVESTMENTS||| |---|---|---| ||2020|2019| |Market value at 1October 2019
Net gains/(losses)
on revaluation
at30September
2020|930,216
)
101,633|823,259
(13,757)| |Eliminated
on disposal
Purchased
in year
Investments
donated by The Pippin Trust|(1,108,211)
1,203,567
2,704,488|(240,243)
360,957| |Market value at 30September 2020|3,831,693|, 930,216| |Historical cost as at30September 2020|3,633,915|834,045| ## ## |9.
FIXEDASSETI|NVESTMENTS -continued||| |---|---|---|---| |||2020|2019| |UK Equities||296,46&|129,700| |International
Equities||996,180|361,387| |UK Bonds||416,014|194,943| |North America Bonds||207,778|62,020| |Portfolio Funds||485,135|182,141| |COIF Charity Funds||1,430,093|| |Unlisted Securities - at cost|||| |125Hereford Co-operative|Housing Ltd||| |4%loan stock||25|'25| |||3,831,693|930/16| |10.
DEBTORS|||| |||2020|2019| |Amounts
falling 'due within|one year:||| |Trade debtors
Other debtors,
,||17,089,|3,590
2,560| |||17,089|6,150| |11.
CREDITORS|||| |||2020|2019| |Amounts
falling due within|one year:||| |Trade creditors
Taxation and social security'|payable|1,745
820|2,402
1039| |Accruals
Other creditors||6,420
149|3,458
13,169| |||9,134|20,068| ## |12.
RESTRICTED FUNDS|12.
RESTRICTED FUNDS|12.
RESTRICTED FUNDS||||| |---|---|---|---|---|---|---| |The income funds ofthe Charity
include restricted
funds comprising
and grants held on trusts tobe applied for specific purposes:|||the following
unexpended||balances|ofdonations| ||A GBulmer
Education
Fund|Museum
Development
Fund|Archive ofCider
Pomology Fund|Collection
Fund||Community
Art Project| |Balance at 1 October 2019
Received during the year
Transfers from|323|202,692|19,997
12,842||1,082|113
377| |general fund||||||| |Cash expended|||(7,113)||(50)|(377)| |Balance at30September 2020|323|202,692|25,726||1,032|113| ## ## ## |12.
RESTRICTED FUNDS|- continued||| |---|---|---|---| ||THE APPLE|John|Total| ||WORLD|Ellerman|| ||exhibitions|Foundation|| |Balance at 1 October 2019|6,500|42,000|272,707| |Received during the year|17,925||31,144| |Transfers between funds|14,500|(4,500)|10,000| |Cttsh expended|(7,568)|(24,159)|(39,267)| |Balance at30September 2020|31,357|13,341|274,584| ## |At 1 October 2019||613,966| |---|---|---| |Incoming resources||3,330,769| |Outgoing resources||(182,155)| |Transfers (to)restricted
funds
Gains on investment
assets||(10,000)
101,633| |At 30September 2020||3,854,213| ## ## ## ## |15,
ANALYSIS OFGROUP NE|T AS|SETS BETWE|E|N FUNDS|||| |---|---|---|---|---|---|---|---| |||||Unrestricted|Restricted||Total| |||||funds|funds||| |Fund balances at30September 2020 are|represented
by:||||||| |Tangible fixed assets||||987,063|||' 987,063| |Investments
Current assets
Current liabilities||||3,629,001
245,265
(9,134)|202,692
'
71,892,|'|3,831,693
317,157
(9,134)| |Total net assets||||4,852,195|274,584||5,126,779| |Unrealised
(gains) included above on tangible fixed assets||||(659,575)|||| |Unrealised
(gains) included above on investment||assets||(172,899)|||| |Total unrealised
(gains) at30September|2020|||(832,474)|||| |Reconciliation ofmovement
in unrealised|(gains) and losses on|||''|||| |&eehold properly
and investment
assets:|||||||| |Unrealised
(gains) at l,october 2019
.
Net (gains) arising on revaluation ofinvestment||, „(730,841)
assets in theyear,
.(101,633),.|||||| |Unrcalised
(gains) at30:September 2020||||(832,474):,|||| |i '|||||||| |16.
'
'
'REI ATED PARTY TRANSACTIONS|||i||||| ## ## ##