2021-03-31-accounts

Trustees		The Lord Hoyle ofWarrington	The Lord Hoyle ofWarrington	The Lord Hoyle ofWarrington
		Mr Albert A Poggio OBE	GMH (Chairman)
		Mr Edward LYome QPM		CPM (Vice-Chairman)
		Commodore lan McGhie		MA FCMI RN (Rtd)
		Mr James Neish QC
		Mr George R Desoisa
		Mrs Deborah AJ Huxley
		Mr Jose Julio Pisharello	FCCA		(Financial	Director)
		Mr Charles Marfe GA (Secretary)
Chairman		MrAlbertA Poggio OBE		GMH
Charity number		1161889
Company	number	9122440
Registered	office	19 - 23 Norfolk Square
		London
		W2 1RU
Auditor		Cooper Young & Partners		Ltd
		Hunter House
		109Snakes Lane West
		Woodford Green
		Essex
		IG8 ODY
Bankers		Natwest Bank Pic
		Gibraltar Savings Bank
		Gibraltar International Bank Ltd

		Page
Chairman's statement
Trustees' report		2-5
Independent auditor's	report
Statement offinancial	activities
Balance sheet
Notes to the financial	statements	10-18

			Unrestricted	Restricted	Total	Total	Restricted	Total
			funds	funds	funds	funds	funds	funds
			2021	2021	2021	2020	2020	2020
		Notes		8	8	8	6	6
In erne and endowmen		fr
Donations and	grants		23,632		23,632	111,592	200,000	311,592
Charitable activities			382,925		382,925	468,270		468,270
Investments			45,303		45,303	2,146		2,146
Other income			10,187		10,187	1,112,839		1,112,839
Total income			462,047		462,047	1,694,847	200,000	1,894,847
~Ex~i~n:
Charitable activities		7	523,329		523,329	485,021		485,021
Net (expenditure)/income
for the year/ Net movement	in funds		(61,282)		(61,282)	1,209,826	200,000	1,409,826
Fund balances April 2020	at 1		6,929,612	200,000	7,129,612	5,535,507		5,535,507
Current year revaluation						184,278		184,278
Fund balances March 2021	at 31		6,868,330	200,000	7,068,330	6,929,611	200,000	7,129,611

				2021	2020
			Notes	E
Fixed assets
Tangible assets			10	17,710,174	17,751,399
Current assets
Debtors				5,342,745	6,551,153
Cash at bank and	in	hand		1,059,323	509,747
				6,402,068	7,060,900
Creditors: amounts		falling due within
one year			12	(125,278)	(116,744)
Net current assets				6,276,790		6,944,156
Total assets less	current liabilities			23,986,964	24,695,555
Creditors: amounts more than one year		falling due after	13	(16,918,634)	(17,565,944)
Net assets				7,068,330		7,129,611
Income funds
Restricted funds				200,000		200,000
General unrestricted		funds		6,635,701	6,696,982
Revaluation reserve				232,629	232,629
				6,868,330		6,929,611
				7,068,330		7,129,611

Donatio	ns and	grants
					Unrestricted	Restricted	Total	Total
					funds	funds	2021	2020
					general f
Friends	of Calpe	House			9,782		9,782	292,641
Gibraltar	Health	Authority	("GHA")		13,850		13,850
HM Government		of Gibraltar		("HMGoG")				18,951
					23,632		23,632	311,592
For the	year ended 31		March 2020		111,592	200,000		311,592

Charitable	activities
		2021	2020
		f	f
Charitable	activities (room charges)	382,925	468,270
Investments
		2021 F	2020f
Interest receivable		45,303	2,146

Other income
				2021	2020
				6	8
Net gain on disposal	of property		(47 Princess Square)		1,089,270
Deferred income					23,569
Other income receivable		from GHA		10,187
				10,187	1,112,839
Charitable activities
				2021	2020
				6
Employment and staff costs				283,767	210,743
Depreciation and impairment				52,966	51,205
Rates				2,283	8,127
Insurance				20,669	20,167
Light and heat				26,082	26,804
Repair, maintenance	and facilities management			32,881	69,526
Postage, stationery and		minor office equipment		6,072	6,364
Telephone and fax				3,320	5,966
Travelling expenses				563	128
Legal and professional				36,997	33,888
Auditors' remuneration				8,495	6,336
Accountancy fees				2,500	2,969
Payroll administration	fees			655	515
Cleaning				7,782	9,824
Bank charges				530	585
Subscriptions				562	109
Sundry expenses				9,780	4,741
Security expenses				12,368	22,902
Computer and ITsupport				1,207	4,122
Covid related costs (see		note 3)		13,850
				523,329	485,021
Unrestricted funds				523,329	485,021

The average monthly number ofemployees during	the year was:
	2021	2020
	Number	Number
	10
Employment costs	2021f	2020
Wages and salaries	258,477	177,005
Social security costs	20,053	16,442
Other pension costs	5,021	3,067
	283,551	196,514

			Land and	Furniture,	ITand other	Total
			buildings	fixtures,	equipment
				fittings &
				equipment
				E
Cost
At 1 April 2020			17,500,000	317,998	23,368	17,841,366
Additions				9,393	2,347	11,740
At 31 March	2021		17,500,000	327,391	25,715	17,853,106
Depreciation	and impairment
At 1April 2020				82,865	7,101	89,966
Depreciation	charged	in the year		49,109	3,857	52,966
At 31 March	2021			131,974	10,958	142,932
Carrying amount
At 31 March	2021		17,500,000	195,417	14,757	17,710,174
At 31 March	2020		17,500,000	235,132	16,267	17,751,399

Debtors
					2021	2020
Amounts falling	due	within one	year:		6	6
Deposit and deferred		consideration	on sale of property	(Princess Square)	5,254,700	6,181,999
Amount owed by	HM	Government	ofGibraltar			28,009
Due from Gibraltar	Health Authority				59,167	66,830
Other debtors					16,605	264,675
Prepayments and	accrued income				12,273	9,640
					5,342,745	6,551,153

		2021	2020
			6
Other taxation and social security		5,799	4,007
Other creditors		98,702	92,730
Accruals and deferred	income	20,777	20,007
		125,278	116,744

13	Creditors: amounts	falling due	after more than one year
				2021	2020
				8	E
	Long term loans - HM	Government	of Gibraltar ("HMGoG")	16,918,634	17,565,944

further amount ofF5,397,245 was paid in June 20	further amount ofF5,397,245 was paid in June 20	further amount ofF5,397,245 was paid in June 20	21, also	from th	e net sale proc	eeds ofPrinc	ess Square.
Analysis of net assets between funds
	Unrestricted	Restricted	Total f	unde	Unrestricted	Restricted	Total funds
	funds	funds			funds	funds
	2021	2021		2021	2020	2020	2020
	F	8			F.	F	8
Fund balances at
31 March 2021
are represented
by: Tangible assets	17,710,174		17,710,174		17,751,399		17,751,399
Current assets/ (liabilities) Long term liabilities	6,076,790 (16,918,634)	200,000	6,276,790 (16,918,634)		6,744, 156 (17,565,944)	200,000	6,944,156 (17,565,944)
	6,868,330	200,000	7,068,330		6,929,611	200,000	7,129,611