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|Contents|||Page|
|---|---|---|---|
|Report ofthe Trustees|||1-5|
|Independent
Auditor's|Report||6-9|
|Statement ofFinancial|Activities|(including||
|Income and Expenditure|Account)||10|
|Balance Sheet||||
|Notes to the Accounts|||12-20|
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|INCOME AND ENDOWMENTS|INCOME AND ENDOWMENTS|Note|Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
|FROM:|||funds|funds|2021|2020|
|Donations
and legacies|||275,471|113,500|388,971|3,263,768|
|Charitable
activities|||117,646|3,733|121,379|87,437|
|Investments|||165,021||165,021|10,708|
|Total income and endowments|||558,138|117,233|675,371|3,361,913|
|EXPENDITURE ON:|||||||
|Expenditure
on raising funds|||(17,820)||(17,820)|(14,607)|
|Expenditure
on charitable
activities|||(242,845)|(60,840)|(303,685)|(216,877)|
|Total expenditure|||(260,665)|(60,840)|(321,505)|(231,484)|
|Net income / (expenditure)|||297,473|56,393|353,866|3,130,429|
|Transfers between
funds|||113|(113)|||
|Other recognised
gains/(losses):|||||||
|Revaluation
ofireehold property|||45,424||45,424||
|Gains/(losses)
on revaluation|ofinvestment||||||
|assets|||348,417||348,417|101,633|
|NET MOVEMENT IN FUNDS|||691,427|56,280|747,707|3)232,062|
|Reconciliation
offunds:|||||||
|Total funds brought
forward|||4,852, 195|274,584|5,126,779|1,894,717|
|Total funds carried forward|||5,543,622|330,864|5,874,486|5,126,779|
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|FIXEDASSETS|||Notes|2021|2020|
|---|---|---|---|---|---|
|Tangible fixed assets||||1,246,608|987,063|
|Investments||||4,345,663|3,831,693|
|||||5,592,271|4,818,756|
|CURRENT ASSETS||||||
|Stocks||||34,260|39,078|
|Debtors|||10|31,603|17,089|
|Cash at bank and in|hand|||230,868|260,990|
|||||296,731|317,157|
|Creditors: amounts|falling due|||(14,516)|(9,134)|
|within
one year||||||
|Net current assets||||282,215|308,023|
|Total assets less current liabilities||||5,874,486|5,126,779|
|NET ASSETS||||5,874,486|5,126,779|
|Restricted
funds|||12|330,864|274,584|
|Unrestricted
funds||||||
|General fund|||13|4,600,253|3,854,213|
|Designated
fund —maintenance||and||||
|repairs||||238,370|338,407|
|Fair value reserve||||704,999|659,575|
|TOTAL CHARITY FUNDS||||5,874,486|5,126,779|
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|
(2020:anil). Expenses paid to the trustees
in the year totalled KNil (2020:
3.
AUDITORS REMUNERATION|KNil).||
|---|---|---|
||2021|2020|
|Auditor/accountants
remuneration
comprises:|||
|Audit services|2,820|3,420|
|Management
accounts, other and soibvare transition
Payroll bureau services including
furlough
claims|3,138
2,340
8,298|5,406
2,145
10,971|
|4.
DONATIONS
AND LEGACIES|||
|Church Street Charitable
Trust||15,000|
|NACM - archive of cider pomology
The Herefordshire
Community
Foundation —Becket Bulmer fund
Miss AG Bulmer|2,500
14,589|2,500
14,651
175,150|
|PCC Holy Trinity Church
Gillian Bulmer Charitable
Trust|2,500|4,000
3,033,272|
|Community
Art Project —Herefordshire
Council
John Ellerman
Foundation|84,000|377|
|THE APPLE WORLD —Hereford
City Council
THE APPLE WORLD —Art Fund with Weston Loan Programme||3,000
14,025|
|THE APPLE WORLD —HEINEKEN||400|
|Apples &People exhibition
programme —Howard Bulmer
Charitable
Trust|10,000||
|Apples &People exhibition
programme
-other grants
Ms Susan Bulmer —gift of Becket's Orchard &other cash donations
HEINEKEN|12,000
260,000
3,000||
|Sundry donations
and gift aid|382|1,393|
||388,971|3,263,768|
|5.
CHARITABLE ACTIVITIES|||
|Museum
shop, cafe, room hire and orchard income
Museum
admissions|35,196
16,379|48,222
9,714|
|Covid-19 grants|69,804|29,501|
||121,379|87,437|
|6.
INCOME FROM INVESTMENTS|||
|Listed investments
income|89,676|84,025|
|Realised profit/(loss)
on the sale ofCazenove Investments|75,345|(73,317)|
||165,021|10,708|
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|7.
EXPENDITU|RE ON CHARIT|ABLE ACTIVITIES|||
|---|---|---|---|---|
||||2021|2020|
|Governance
costs:|||||
|Museum
director salary and bookkeepers
charges
Telephone
and internet costs
Auditor/Independent
examiners
remuneration
Legal and professional
fees
Depreciation ofplant and machinery
Bank charges|||41,931
1,561
8,298
14,665
3,391
1,207|40,882
1,543
10,971
8,998
2,454
604|
|Administrative
costs:|||||
|Premises costs
Motor and travel costs|||84,148
138|44,321
398|
|Printing,
stationery
and advertising
Exhibits and equipment
Impairment
ofIreehold property
Depreciation of freehold property
Sundry expenses|||5,317
56,003
20,424
16,000
2,490|4,824
33,628
16,000
2,235|
|Staff costs:|||||
|Wages and salaries
Social security costs
Pension costs|||42,192
885|48,246
992
781|
|Redundancy
pay|||5,035||
||||303,685|216,877|
|||2021|2020|
|---|---|---|---|
|Governance|staff||2|
|Other staff|||11|
||||13|
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|8.
TANGIBLE FIXEDASSETS||||
|---|---|---|---|
||Freehold|Plant and|Total|
||property|machinery||
|COST OR VALUATION||||
|Balance at I October 2020|1,040,000|145,958|1,185,958|
|Additions|250,000|3,936|253,936|
|Revaluations|25,000||25,000|
|Balance at 30 September 2021|1,315,000|149,894|1,464,894|
|ACCUMULATED
DEPRECIATION||||
|Balance at 1 October 2020|104,000|94,895|198,895|
|Charge for the year|16,000|3,391|19,391|
|Revaluation
adjustments||||
|Balance at 30 September 2021|120,000|98,286|218,286|
|NET BOOK VALUE||||
|At 30 September 2021|1,195,000|51,608|1,246,608|
|At 30 September 2020|936,000|51,063|987,063|
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|9.
FIXEDASSET INVESTMENTS|||
|---|---|---|
||2021|2020|
|Market value at I October 2020|3,831,693|930,216|
|Net gains/(losses)
on revaluation
at 30 September
2021
Eliminated
on disposal
Purchased
in year
Investments
donated by The Pippin Trust|348,417
(470,910)
636,463|101,633
(1,108,211)
1,203,567
2,704,488|
|Market value at 30 September 2021|4,345,663|3,831,693|
|Historical cost as at 30 September 2021|3,724,712|3,633,915|
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|9
FIXEDASSET IN|VESTMKNTS -continued|||
|---|---|---|---|
|.
||2021|2020|
|UK Equities||296,470|296,468|
|International
Equities||1,159,446|996,180|
|UK Bonds||299,211|416,014|
|International
Bonds||392,663|207,778|
|Portfolio Funds||583,491|485,135|
|COIF Charity Funds||1,614,357|1,430,093|
|Unlisted
Securities - at cost||||
|f25 Hereford Co-operative
4%loan stock|Housing Ltd|25|25|
|||4,345,663|3,831,693|
|10.
DEBTORS||||
|Amounts
falling due within
Trade debtors
Other debtors|one year:|887
30,716|17,089|
|||31,603|17,089|
|11.
CREDITORS||||
|Amounts
falling due within
one year:
Trade creditors
Taxation and social security payable
Accruals
Other creditors||6,708
730
6,910
168|1,745
820
6,420
149|
|||14,516|9,134|
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|andgrants held on trusts to b|e applied for specific|purposes:||||
|---|---|---|---|---|---|
||A GBulmer|Museum|Archive of|Collection|Community|
||Education
Fund|Development
Fund|Cider
Pomology|Fund|Art
Project|
||||Fund|||
|Balance at 1 October 2020|323|202,692|25,726|1,032|113|
|Received during the year|||6,233|||
|Transfers (to)/
from general fund
Cash expended|(323)||(5,628)||(113)|
|Balance at 30 September 2021||202,692|26,331|1,032||
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|12.
RESTRICTED FUNDS|-continued|||
|---|---|---|---|
||THE APPLE|John|Total|
||WORLD|Ellerman||
||exhibitions|Foundation||
|Balance at 1 October 2020|31,357|13,341|274,584|
|Received during the year
Transfers between
funds|27,000|84,000|117,233
(113)|
|Cash expended|(28,391)|(26,498)|(60,840)|
|Balance at 30 September 2021|29,966|70,843|330,864|
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|At I October 2020||3,854,213|
|---|---|---|
|Incoming resources||558,138|
|Outgoing resources
Transfers from restricted|funds|(213,487)
113|
|Transfer from designated|fund - repairs|52,859|
|Gains on investment
assets||348,417|
|At 30 September 2021||4,600,253|
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|15.
ANALYSIS OF GRO|UP NK|T ASS|ETS|BETWEEN F|UNDS|||
|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total|
||||||funds|funds||
|Fund balances at 30 September 2021 are||represented||by:||||
|Tangible fixed assets
Investments|||||1,246,608
4,142,971|202,692|1,246,608
4,345,663|
|Current assets|||||168,559|128,172|296,731|
|Current
liabilities|||||(14,516)||(14,516)|
|Total net assets|||||5,543,622|330,864|5,874,486|
|Unrealised
(gains) included
above
Unrealised
(gains) included
above|on tangible fixed assets
on investment
assets||||(704,999)
(521,316)|||
|Total unrealised
(gains) at 30 September||2021|||(1,226,315)|||
|Reconciliation ofmovement
in unrealised||(gains) and losses on||||||
|freehold property
and investment|assets:|||||||
|Unrealised
(gains) at 1 October 2020|||||(832,474)|||
|Net (gains) arising on revaluation|ofinvestment||assets in the year||(348,417)|||
|Revaluation
offreehold property|in the year||||(45,424)|||
|Unrealised
(gains) at 30 September 2021|||||(1,226,315)|||
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