## THE HARROW MISSION 

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 

FOR THE YEAR ENDED 31 MARCH 2021 

Haines Watts Old Station House Newport Street Swindon SN1 3DU 

Tel 01793 533838 

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## THE HARROW MISSION TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 

|CONTENTS|Page|
|---|---|
|Officers and Financial Advisers|1|
|Report of the Charity Trustees|2-4|
|Independent Auditors’ Report|5-7|
|Statement of Financial Activities|8|
|Balance Sheet|9|
|NotestotheFinancialStatements|10-15|



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THE HARROW MISSION 

PAGE 1 

OFFICERS AND FINANCIAL ADVISERS 

## a EXECUTIVE COMMITTEE: 

|Trustees:|AndrewWauchope|Chairman|
|---|---|---|
||Edward Buxton||
||Kevin Gilbert||
||Nick Moss||
||WMN<br>Alastair Land|Appointed 27April 2021|
|Honorary Secretary:|Andrew J F Stebbings||
|ADMINISTRATIVE OFFICE:|||
||Old Station House||
||StationApproach||
||Newport Street||
||Swindon, Wilts||
||SN1 3DU||
|BANKERS:|CAF Bank Limited||
||25 Kings Hill||
||West Malling||
||Kent||
||ME194JQ||
|INVESTMENTMANAGERS:|CCLA InvestmentManagement Limited||
||Senator House||
||85 Queen Victoria Street||
||London||
||EC4V4ET||
|AUDITORS:|HainesWatts||
||Old Station House||
||Station Approach||
||Newport Street||
||Swindon, Wilts||
||SN1 3DU||
|CHARITY REGISTRATION|||
|NUMBER:|1159795||



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PAGE 2 

## THE HARROW MISSION 

## REPORT OF THE CHARITY TRUSTEES 

## FOR THE YEAR ENDED 31 MARCH 2021 Ce en 

## Introduction 

The Trustees present their report and financial statements for the year ended 31 March 2021. The financial Statements comply with the Charities Act 2011, Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015). The Charity is a Charitable Incorporated Organisation (CIO) in the name of the Harrow Mission (Registered Charity No. 1159795) having assumed all of the assets and liabilities of the predecessor charity (registered charity no. 264219) (the “Original Charity”) with effect from 1 April 2015. 

## Trustees, Officers and Advisers 

These are set out on page 1. The Trustees received no remuneration for their services. 

## Objects 

The objects of the Original Charity as originally constituted were the advancement of religion and other charitable purposes for the benefit of the Parish of Holy Trinity, Latimer Road, established by an Order of Her Majesty in Council dated 12 August 1885. The Mission's direct association with the Parish of Holy Trinity ended on 1 January 1940. 

The objects of the ClO are the promotion of any charitable purpose for the benefit of the inhabitants of Greater London (“the area of benefit”) and in particular the advancement of education, the protection of health and the relief of poverty, distress and sickness, the promotion of racial harmony and the provision of recreation and leisure time occupations for the purpose of promoting social welfare, the spiritual, social, moral and physical well-being of the youth of the area of benefit. 

In the Trustees’ opinion the Charity’s objectives and grant making policies are demonstrably for the public benefit and the Trustees have regard to the Charity Commission guidance in making their decisions. 

## Organisation 

The day-to-day affairs of the Charity are under the control of the Trustees. The Honorary Secretary is responsible for the day-to-day administration of the Charity and its assets and the organisation of the Trustees’ meetings. 

The Trustees have long experience of being a charity trustee and of the voluntary sector. New trustees are appointed by the Trustees, who select candidates with the relevant skills and experience to compliment those of the continuing Trustees. When new Trustees are selected, they are given an introduction to the work of the Charity, its strategy and operational policies and provided with the information they need to fulfil their roles, including information about the role of a charity trustee and charity law. 

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PAGE 2 

## THE HARROW MISSION 

## REPORT OF THE CHARITY TRUSTEES 

## FOR THE YEAR ENDED 31 MARCH 2021 Ce en 

## Introduction 

The Trustees present their report and financial statements for the year ended 31 March 2021. The financial Statements comply with the Charities Act 2011, Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015). The Charity is a Charitable Incorporated Organisation (CIO) in the name of the Harrow Mission (Registered Charity No. 1159795) having assumed all of the assets and liabilities of the predecessor charity (registered charity no. 264219) (the “Original Charity”) with effect from 1 April 2015. 

## Trustees, Officers and Advisers 

These are set out on page 1. The Trustees received no remuneration for their services. 

## Objects 

The objects of the Original Charity as originally constituted were the advancement of religion and other charitable purposes for the benefit of the Parish of Holy Trinity, Latimer Road, established by an Order of Her Majesty in Council dated 12 August 1885. The Mission's direct association with the Parish of Holy Trinity ended on 1 January 1940. 

The objects of the ClO are the promotion of any charitable purpose for the benefit of the inhabitants of Greater London (“the area of benefit”) and in particular the advancement of education, the protection of health and the relief of poverty, distress and sickness, the promotion of racial harmony and the provision of recreation and leisure time occupations for the purpose of promoting social welfare, the spiritual, social, moral and physical well-being of the youth of the area of benefit. 

In the Trustees’ opinion the Charity’s objectives and grant making policies are demonstrably for the public benefit and the Trustees have regard to the Charity Commission guidance in making their decisions. 

## Organisation 

The day-to-day affairs of the Charity are under the control of the Trustees. The Honorary Secretary is responsible for the day-to-day administration of the Charity and its assets and the organisation of the Trustees’ meetings. 

The Trustees have long experience of being a charity trustee and of the voluntary sector. New trustees are appointed by the Trustees, who select candidates with the relevant skills and experience to compliment those of the continuing Trustees. When new Trustees are selected, they are given an introduction to the work of the Charity, its strategy and operational policies and provided with the information they need to fulfil their roles, including information about the role of a charity trustee and charity law. 

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## THE HARROW MISSION 

## PAGE 4 

## REPORT OF THE CHARITY TRUSTEES 

## FOR THE YEAR ENDED 31 MARCH 2021 (continued) 

## eee 

The property risk is mitigated by appropriate insurance and making proper provision for the maintenance and preservation of the buildings to ensure that they are fit for purpose for which the Designated Fund has been established._ 

## Statement of Trustees’ responsibilities 

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the ClO’s affairs and of the incoming resources and application of resources of the charity for the year. In preparing these financial statements, the trustees are required to: 

- ° select suitable accounting policies and then apply them consistently; ° observe the methods and principles in the Charities SORP 2015 (FRS 102); e make judgements and estimates that are reasonable and prudent; 

- ° state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; 

- ° prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 

The Trustees are responsible for keeping proper accounting records that disclose, with reasonable accuracy at any time, the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Financial Reporting Standard (FRS 102) and the provisions of the trust deed. They are also responsible for safeguarding the assets of the CIO and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

In so far as the trustees are aware: 

- e there is no relevant audit information of which the company’s auditors are unaware; and 

- e they have taken all necessary steps that they ought to have to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 

Approved by the Trustees on 2 November 2021 and signed on their behalf by: 

> ChairmanAp lo ro/fk 

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## THE HARROW MISSION 

## PAGE 5 

## INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF THE HARROW MISSION eee 

## Opinion 

We have audited the financial statements of The Harrow Mission (the ‘charity’) for the year ended 31 March 2021 which comprise The Statement of Financial Activities, Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: 

- ° give a true and fair view of the state of the charity's affairs as at 31 March 2021, and of its incoming resources and application of resources, for the year then ended; 

- e have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- e have been prepared in accordance with the requirements of the Charities Act 2011. 

## Basis for opinion 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

However, not all future events or conditions can be predicted. The COVID-19 viral pandemic is one of the most significant economic events for the UK with unprecedented levels of uncertainty of outcomes. It is therefore difficult to evaluate all of the potential implications on the charity's operations, funders, suppliers and wider economy. 

## Other information 

The other information comprises the information included in the trustees annual report2, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report’. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard 

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## THE HARROW MISSION 

## PAGE 6 

## INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF THE HARROW MISSION eeee eee 

## Matters on which we are required to report by exception 

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and 

Reports) Regulations 2008 require us to report to you if, in our opinion: 

- e _ the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or 

- e — sufficient accounting records have not been kept; or 

e the financial statements are not in agreement with the accounting records; or e we have not received all the information and explanations we require for our audit. 

## Responsibilities of trustees 

As explained more fully in the trustees’ responsibilities statement set out on page 4, the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 

## Auditor's responsibilities for the audit of the financial statements 

We have been appointed as auditor under section 144° of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

- making enquires of trustees and management as to where they consider there to be a susceptibility to fraud and whether they have any knowledge or suspicion of fraud; 

- obtaining an understanding of the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations; 

- assessing the risk of management override including identifying and testing journal entries; - challenging the assumptions and judgements made by management in its significant accounting estimates. 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This 

PAGE 7 

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## THE HARROW MISSION INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF THE HARROW MISSION 

risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 

A further description of our responsibilities is available on the Financial Reporting Council's website at: https://www. fre. org. uk/Our-Work/Audit/Audit-and-assurance/Standards-and-quidance/Standards-andguidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx. This description forms part of our auditor's report. 

## Use of our report 

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed. 

## Haines Watts 

Chartered Accountants and Statutory Auditor Old Station House Station Approach Newport Street SWINDON Wilts SN1 3DU 

Date... >... dVen 2X 091 

Haines Watts is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006. 

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PAGE 8 

THE HARROW MISSION 

## STATEMENT OF FINANCIAL ACTIVITIES 

## FOR THE YEAR ENDED 31 MARCH 2021 

|||Note|Capital|Designated|Income|Total|Total|
|---|---|---|---|---|---|---|---|
||||Fund|Fund|Fund|2020-21|2019-20|
||||£|£|£|£|£|
|Incoming Resources||||||||
|Net investmentincome|||-|-|144,097|144,097|142,213|
|Property Investments|||-|-|127,168|127,168|128,484|
|Other Income|||-|-|17|17|95|
|Total|||-|-|271,282|271,282|270,792|
|Resources Expended||||||||
|Raising funds||3|.|-|16,307|16,307|74,843|
|Charitable activities||4|2,400|13,160|206,369|221,929|164,700|
|Total expenditure|||2,400|13.160|222,676|238,236|238,543|
|Net Income/(Expenditure)|||(2,400)|(13,160)|48,606|33,046|31,249|
|Net<br>profit/<br>(loss)|on||843,733|-|-|843,733|(133.513)|
|investments||||||||
|Property valuation Gains|||430,000|-|-|430,000|-|
|Transfer between funds|||.|63,160|(63,160)|-|-|
|Netmovements infunds|||1,271,333|50,000|(14,554)|1,306,779|(102,264)|
|Balance brought forward|||5,459,407|-|295,826|5,755,233|5,857,497|
|Balanceat5April2021|||6,730,7400|50,000|281,272|7,062,012|5,755,233|



There are no recognised gains and losses other than those passing through the Statement of Financial Activities. The accounting policies and notes on pages 10 to 15 form part of the Financial Statements. 

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PAGE 9 

THE HARROW MISSION 

## BALANCE SHEET 

AS AT 31 MARCH 2021 


**----- Start of picture text -----**<br>
||||||||||
|---|---|---|---|---|---|---|---|---|
|Note|2021|2020|
|£|£|
|Fixed|assets|
|Tangible|Fixed|Assets|6|1,817,814|1,387,814|
|Investments|7|5,213,284|4,305,370|
|7,031,098|5,693,184|
|Current|assets|
|Cash|at|bank|45,897|39,698|
|Debtors|8|38,803|63,837|
|84,700|103,526|
|Current|Liabilities|
|Creditors|falling|due|within|9|(44,311)|(31,141)|
|one|year|
|Net|Current Assets|40,389|72,385|
|7,071,487|5,765,569|
|Creditors|
|Amounts|falling|due|after|one|10|9,475|10,336|
|year|
|Total|Net Assets|7,062,012|5,755,233|
|Capital|Fund|6,730,740|5,459,407|
|Designated|Fund|50,000|-|
|Income|Fund|281,272|295,826|
|Total|Funds|7,062,012|5,755,233|
|financial|statements were were|approved|by|the|Trustees|on|2|November 2021|

**----- End of picture text -----**<br>


The financial statements were were approved by the Trustees on and signed on their behalf by 

## Chairman a Lon Me Q 

The accounting policies and notes on pages 10 to 15 form part of the Financial Statements. 

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PAGE 10 

## THE HARROW MISSION 

## NOTES TO THE FINANCIAL STATEMENTS 

## FOR THE YEAR ENDED 31 MARCH 2021 

4. ACCOUNTING POLICIES 

: 

## 1.1 Accounting Convention 

These financial statements have been prepared in compliance with FRS 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. 

The Charity constitutes a public benefit entity as defined by FRS 102. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern. 

The accounts are drawn up on the historical cost accounting basis except for investments held as fixed assets and Investment properties. The financial statements are prepared in sterling, which is the functional currency of the Charity and is rounded to the nearest £. 

## 1.2 Tangible Fixed Assets and Depreciation 

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, except that no depreciation is provided on freehold land and buildings. It is the Charity’s policy to maintain freehold buildings in such condition that their value is not impaired by the passage of time. As a consequence any element of depreciation would, in the opinion of the Trustees, be immaterial and no provision has been made. Investment properties, which are revalued every five years, are shown at their open market value on the last valuation date. 

## 1.3 Investments 

- Investments held as fixed assets are stated at market value at the Balance Sheet date. Changes in market value are reflected in the Statement of Financial Activities. 

## 1.4 Accounting for Separate Funds 

The financial statements of a charity must differentiate between restricted and unrestricted funds. All the funds of the Charity are unrestricted. 

## 1.5 Income 

- Investment income is accounted for when due for payment or in the case of the COIF Charities Funds in the period to which it relates. Grants and donations are accounted for when received. Rent is accounted for when receivable. 

## 1.6 Debtors and creditors 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. 

## 1.7 Expenditure 

Expenditure is accounted for on the accruals basis. 

## 1.8 Taxation 

As a registered charity the Charity is not liable to taxation on its investment income and gains or income and gains arising from activities in furtherance of its charitable objectives and charitable donations. Recovery of income tax is made on tax credits arising from investments income, from receipts under deeds of covenant and gift aid payments. 

## 1.9 True and Fair View 

By the nature of its principal activities, the Charity is a non-profit making organisation and therefore a Profit and Loss Account is not included in these financial statements, being replaced by a Statement of Financial Activities. 

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THE HARROW MISSION 

## NOTES TO THE FINANCIAL STATEMENTS 

FOR THE YEAR ENDED 31 MARCH 2021 (continued) 

2. ANALYSIS OF THE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2020 


**----- Start of picture text -----**<br>
|||||||
|---|---|---|---|---|---|
|Year|ended|31|March|2020|
|Capital|Income|
|Fund|Fund|Total|
|£|£|£|
|INCOME|AND|ENDOWMENT|FROM:|
|Investments:|
|Quoted|investments|=|142,213|142,213|
|Bank|interest|-|95|95|
|Property|investments|-|128,484|128,484|
|TOTAL|INCOME AND|ENDOWMENT|-|270,792|270,792|
|EXPENDITURE:|
|Cost|of Generating|Funds|3|74,843|74,843|
|Charitable|activities|4|.|164,700|164,700|
|TOTAL|EXPENDITURE|239,543|239,543|
|Net|gains/|(losses)|on|
|investments|rg|(133,513)|(133,513)|
|NET|INCOME|/|EXPENDITURE|&|
|MOVEMENT|IN|FUNDS FOR THE YEAR|(133,513)|31,249|(102,264)|
|RECONCILIATION|OF|FUNDS:|
|TOTAL|FUNDS|BROUGHT|FORWARD|
|1|APRIL 2019|5,592,920|264,577|5,857,497|
|BALANCE AT|END|OF YEAR|5,459,407|295,826|5,755,233|

**----- End of picture text -----**<br>


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PAGE 12 

## THE HARROW MISSION 

## NOTES TO THE FINANCIAL STATEMENTS 

## FOR THE YEAR ENDED 31 MARCH 2021 (continued) 

|FOR THE YEAR ENDED 31THE YEAR ENDED 31YEAR ENDED 31ENDED 3131 MARCH 2021 (continued)|FOR THE YEAR ENDED 31THE YEAR ENDED 31YEAR ENDED 31ENDED 3131 MARCH 2021 (continued)|FOR THE YEAR ENDED 31THE YEAR ENDED 31YEAR ENDED 31ENDED 3131 MARCH 2021 (continued)|FOR THE YEAR ENDED 31THE YEAR ENDED 31YEAR ENDED 31ENDED 3131 MARCH 2021 (continued)|FOR THE YEAR ENDED 31THE YEAR ENDED 31YEAR ENDED 31ENDED 3131 MARCH 2021 (continued)|FOR THE YEAR ENDED 31THE YEAR ENDED 31YEAR ENDED 31ENDED 3131 MARCH 2021 (continued)|
|---|---|---|---|---|---|
|eee||||||
|3.|COSTOF GENERATING FUNDS|||||
|||Capital<br>Fund<br>&|Income<br>Fund<br>£|2020/21<br>Total<br>£|2019/2020<br>Total<br>£|
||Property Maintenanceand repair<br>Buildings insurance<br>Professional fees|-<br>-<br>-|-<br>16,307<br>-|-<br>16,307<br>-|35,826<br>24,851<br>14,166|
|||-|16,307|16,307|74,843|
|4.|ANALYSISOFCHARITABLE ACTIVITIES&|&SUPPORTCOSTS|COSTS|||
|||||2020/21|2019/20|
|||||Total|Total|
||Grants payable|||£|£|
|||||218,160|159,300|
||Support Costs (note 5)|||3,769|5,400|
||Total|||221,929|164,700|



4. ANALYSIS OF CHARITABLE ACTIVITIES & SUPPORT COSTS 

|5.|SUPPORTCOSTS&GOVERNANCE COSTS||||
|---|---|---|---|---|
||A breakdown ofsupportcosts isshown in the table below. The allocation to Charitable Activities isshown in note 4.||||
||Capital<br>Fund<br>£<br>AuditFees<br>5<br>Professional Fees<br>2,400<br>Otherexpenses<br>-|Income<br>Fund<br>£<br>1,900<br>(600)<br>69|2020/21<br>Total<br>£<br>1,900<br>1,800<br>69|2019/20<br>Total<br>£<br>1,740<br>3,600<br>60|
||2,400|1.369|3,769|5,400|



The trustees, who are also considered to be the Key Management Personnel, received no remuneration or any individual expenses incurred in providing services to the charity. 

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PAGE 13 

## THE HARROW MISSION 

## NOTES TO THE FINANCIAL STATEMENTS 

## FOR THE YEAR ENDED 31 MARCH 2021 (continued) 

6. TANGIBLE FIXED ASSETS (All used for Direct Charitable Purposes) 

Freehold Land & Buildings 

|Freehold Land & Buildings|||
|---|---|---|
||2020/21|2019/20|
||£|£|
|Broughtforward 1 April 2020<br>Additions|1,387,814<br>i.|1,387,814<br>-|
|Disposal at valuation|-|-|
|Unrealised gain on revaluation|430,000|-|
|Carried forward 31 March 2021|1,817,814|1,387,814|
|Historical book cost|||
|At31March2021|345,686|345,686|



The tangible fixed assets represent the following freehold land and buildings owned by the charity: 

(a) aNorman Shaw Grade II listed former church building at 187 Freston Road (b) aresidential building at 189 Freston Road (c) an office building at 191 Freston Road 

The Properties at 187 and 189 Freston Road are leased on concessionary terms to Harrow Club W10 and the Octavia Foundation respectively. The premium for the lease on 189 Freston Road is specified in note 10. Both properties are regarded as functional and are included at nominal value in the overall property valuation. 

The property at 191 Freston Road is leased at full market rate and was revalued as at 31 March 2021 at £1,750,000 by BNP Paribas Real Estate, Chartered Surveyors, in accordance with the valuation standards of the Royal Institute of Chartered Surveyors. This property is treated as an investment property previously valued in March 2015 at £1,320,000. The Trustees' policy is to revalue the property at sufficient regularity to ensure that the carrying value does not differ materially from the fair value at the reporting date. The valuation as at 31 March 2020 was deferred until 31 March 2021 due to the then prevailing circumstances of the COVID-19 pandemic 

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PAGE 14 

## THE HARROW MISSION 

## NOTES TO THE FINANCIAL STATEMENTS 

## FOR THE YEAR ENDED 31 MARCH 2021 (continued) 

## eee 

7. FIXED ASSET INVESTMENTS 

The investment portfolio Is managed by CCLA Investments Management Limited. 

## Quoted Investments (all held in UK) 

|Quoted Investments (all held in|UK)||||||
|---|---|---|---|---|---|---|
|||||2020/21||2019/20|
|Brought forward 1 April2020<br>Additions at cost||||£<br>4,083,008<br>-||£<br>4,216,521<br>-|
|Disposal proceeds||||-||-|
|Realised gain/ (loss) on disposals||||-|||
|Unrealised (loss)/gainon revaluation||||843,733||(133,513)|
|Carried forward 31 March 2020|||||||
|||||4,926,741||4,083,008|
||||31 March 2021||31|March 2020|
|||Historic<br>Cost<br>£|Market<br>Value<br>£|Historic<br>Cost<br>£||Market<br>Value<br>£|
|COIF Charities investmentFund <br>COIFCharities DepositFund|(94.50%)<br>( 5.50%).|4,084,437<br>286,543|4,926,741<br>286,543|4,084,437<br>222,362||4,083,008<br>222,362|
|||4,370,980|5,213,284|4,306,799||4,305,370|



Investment management fees are charged within the COIF Funds and CCLA provide a statement of the costs and charges on a quarterly basis calculated in accordance with the Markets in Financial Instruments Directive (MiFID Il). The total of such charges in the COIF Charities Funds in the year to March 2021 was £52,867 (2019-20 £29,320). 

8. DEBTORS 

|DEBTORS|2020/21|2019/20|
|---|---|---|
||£|£|
|Rent(includinginsurance recovery)<br>Dividend receivable<br>Accrued interest|2,550<br>36,250<br>3|27,500<br>36,250<br>87|
||38,803|63,837|



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PAGE 15 

## THE HARROW MISSION 

## NOTES TO THE FINANCIAL STATEMENTS 

## FOR THE YEAR ENDED 31 MARCH 2021 (continued) 


**----- Start of picture text -----**<br>
||||||||||
|---|---|---|---|---|---|---|---|---|
|9.|CREDITORS|
|Amounts|falling|due|within|one year|
|2020/21|2019/20|
|£|£|
|Professional|fee|creditors|&|accruals|4,800|5,280|
|Premium|on|189|Freston|Road|861|861|
|Grants|11,250|-|
|Rent|(including|prepayments)|25,000|25,000|
|Other|2,400|-|
|44,311|31,141|
|10.|CREDITORS|
|Amounts|falling|due|after one|year|
|2020-21|2019/20|
|£|£|
|Deferred|income —|Premium|on|189|Freston|Road|9,475|10,336|

**----- End of picture text -----**<br>


On the grant of the 36-year lease of 189 Freston Road in 1997 a premium of £31,000 was received which is being released in equal instalments over the period of the lease at £861 per annum. 

## 11. RELATED PARTIES 

Mr Gilbert is a trustee of the Harrow Club W10, to which the Mission leases 187 Freston Road. Rent charged for the year to the Club was £10,000 (2020: £10,000). 

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