Registered Company No 9689992 Registered Charity No 1166655 OSPREYQUAYMANAGEMENTSERVICESCOMPANY LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED31 MARCH 2021 *MFELty IW10r2021 COMPthIES HOUSE #leo OSPREY QUAY MANAGEMEMT SERVICES COIAPANY LIMITED comp•ny limited by guarantee) YEAR ENDED 31 MARCH 2021 CONTENTS PAGE CHARMANS REPORT TRUSTEES. REPORT INDEPENDENT AUDtroRS' REPORT TO THE TRUSTEES ANO MEMBERS OF OSPREY QUAY MANAGEMENT sERV￿Es COMPANY LIM￿ED STATEMENT OF FNANCIAL ACTWMES 12 BALANCE SHEET 13 STATEMENT OF CASH FLOWS 14 NOTES TO THE FINANCAL STATEMEfvtrs 15 COMPARA8LES FROM PREVPXIS FWAKI4L YEAR OSPREY QUAY MANAGEMENT SERVICES C(WPANY LIMtTEO (A ￿mpaThy Ilmited by guarantso) YEAR ENDED 31 MARCH 2021 CHAfRMAN'S REP Ospray Cluay SeThtss Llmlknd kn 8 ¢h&ity Ilwt to the 9T￿ spo¢0 at Olproy a￿￿Y br . ben8fft of rxvnmunl knve•tmonl• (Mrthe pwi¢>J 18tApTI 2020 to 31st Mar¢h 2021 dihelnv85kn￿h8IJ byts(XffjFwyknmsed by20.66% {201W2(k. derypw of3.17%1 to £1.T2m (20t¥20: £1.43ml. A faVoUra￿0 on our VNesIW￿ of 2.9%.(2Q1W20' &5%) ￿trA8$ us ryWagg.￿ srt8S tts o Cfvarfta￿e outo)mes and to fvTrJ fr￿Te inrv)vements. paik and the promenade Cath a￿1 Ihe mafkna. is nethj bthwn th& kneter[￿Trt and the salllTYJ wta Us￿1 In tho 2012 SuMn￿r 0￿p￿S aTrJ Lho p¥￿T Ches¥ Be Ljjrfng thp year the fflabtte￿n￿ c*anglTrJ prr)Jm was ojnrdeted to a c¥)ns[st￿ htrJh stardard. These *y)rk8 Inc￿09 gra&4 trjllkng. ¥affJè bthmlr¥J rais+￿ 8th1 tre8 nWtrrt9nar￿. lrfièr pk￿ng ar￿ bin 8mptyng. lly tip removal, ￿n￿-S￿L81 damagè repaff. grtffio rnmo¥¥l rnaInten￿. rwiair and wAacement of ttre&ionai infrastruthrt gnd sknag8. Tha dto ha6pm￿ded a vahjabb and Sa￿￿8￿n6pace lo(a corA7Kth to aX8TfAEe. Wfreshaw arnjstay connethd wl(h Ihdr corM)wlty thwh Iho COVMI AdditiOn￿ty this y•ar the ofth8 *ies' fve• *MQS was thB seaung rBK4ac4d wkn to math the M8mori81 GaftJeD arnl lor￿Mi m*ntenanc8 rx5515. Euan Hall Chalrman 27* Auou8t 2021 OSPReY QUAY MANAGEME1￿ SERVICES COMPIINY LIAIITEO IA company limited by guarantee} YEAR ENDED 31 MARCH 2021 TRUSTEES. REPORT: LEGAL AND ADMINISTRATIVE STRUCTURE Cbprey IluayManagementServiCÈsComp￿yLIM1led isatharityregi8teredvMththe CharityctsmmissbL￿ in England andWalesNo. 1166655, itobtsined itscharitable stattjs on 21* April 2016. Th8 Trusf5 gov•mingd0uJrnentsa￿lls A￿￿eSofASso0ati0n. Th8 soleM8mberofthe companyisThe Land Resknralion Trust Limited (rhe LandTry$tl Th8 Companyoperalgswithin the same Polioesand Prrjcedu￿sOfThe Land TnJsL The LandTrusioperates an Audi( Inveslmert Remuneration &HR and NominationsCommdEeethatrep0￿ kn the Trus*tsofthat Company. OSPREY qUAY MMAGEMENT SERVKES COMPANY LVAfTED DRECT(XiS The Directorsolthe companyar¢ its Twstees forlhe Pu￿*Se01¢0MPanyLaW8ndth10￿htsUtth1srePtsrta￿ c0lbectively￿ftrr￿j b as lh* Trustees. Thè TnJste¢s who sewd Ihroughoutthe year.were Euan Hau. Paul(*Jerg and Alancarter. PRINCIPAL AND REGL8TEREO OFFICE 7 BiTchwood One Oewhur5tRoad Birch%vood Waryington WA3 7GB PROFESSIONAL I￿vISoRs The charitiesmainadvisorsarg= EXTERNAL AUDifoRS SafferyChampn&ssLLP 71 I￿¢￿nvI￿OrIa Strget London EC4V 46E soL￿￿oRs The Charity wilh The Land Trust operatesa frameworkagreemeniw various solicitor5. Firrns are la5koJ from lime kn tim• according ts th• ¢xpewti5e. BANKERS Barclays PIC 1st Floor 3 Hardman Street Spinningfidds Manchester. M3 3HF VESTIAENT MANAGERS CCLAlnveslmenlMana9emenlLb SenatorHouse 85 ￿een Vicioria Street LondonEC4V4Er GoveRNANce AMD 141ANAGEMEtIT Tr￿lee$- re¢ruitinent and ernolumonts r Tmstees have been Tecruited to providé the skblls awwj exp•fionce requir•d to govem the Chèrity. The TnJstees, ¢omprise tha Board of Ihe Company. did not re￿1Ve any ￿mUnerab"On Irom Ihe Charityduring the perh)d.When recruitg Trustees are inducted by attendin9 workshops and other Iraining a￿ar9ed by The Land Trust Travelling and sub￿5￿2 èxpensesincurrod bythe Tiustees on Board businessarnounleij k)nil. The Tnjstees havèbènefiled Ifom Truste• indemnityinwrnnce ilwoug1￿utl￿QYeaf. The BoHrd Thè Boardusuallymeetsfourtimesa y•ar, a￿d￿00￿a13dt￿M+&th"n￿s0l Ihè Boardor Trusts•s tskè placeduiing the year. Key Personn•l The charity has no diredty employed stsff.TheTwstee5 acaas key rnanagerrentpersonneland a￿n01￿M￿n￿r3t￿d.Orry 4ddiiional serificesprovided arethèpar•nt tharityand 50 all emplo￿poli0£sare 5etatGroup l&vel. OSPREY QUAY MANAGEMENT SERVICES COMPANY LIIAITED {A company limltrd by guarantrel YEAR ENDED 31 AIARCH 2021 STATEMENT OF TRUSTEES. RESPONSIBLMES Health and Safety Thè Board Considers Ihe health, safety and well-being of ¥olunleers. suppliers and visitors to our stes as a govemarKe priority. The Board is ultimat81y responsible for compliance wilh H8alth and Safety le9islabon. The day-to-day r85ponsibslity is delegated tolhe ChiefExecuts"¥e andlheoiredorof Portfolio Managemertof The LandTnJsL who aretoge1her￿sponwtle forcompliance, ￿lÈVantpOl1CY￿e¥elopMentartd perfoma)ce. Duringlhe eourseoflhe yearthefe We￿ no significantaeudentsorinadentsinvolvingvolunteers.eontractors, orvisitors to the ￿te. All staff have completed trainin9 Ses￿on$ outtinir9 heath an¢J safety ￿SponsIbl￿ties of Ihe or9anisabon aTrJ the individualemdoyeesa5expr&ssed in the Health and Safetyatwork Act 1974.Th8 Trust has the systern5 in placeto 8nsu8 Ihese ￿SPonsIblE1￿¢sarQ meLWe wilnug c4oselywilh ourrnana9ing agenttode¥elop robusland complen* best practi￿. F￿anCial Rewtino TheTrustees Iwhoare alsoOire¢#orsof 05p￿Y(￿JaYManageMeI*ser¥lC¢Sc0rr￿awLIm1ted I￿the pu￿Ses01CL￿Wry Lawlare respon5ibleforpreparing theTrustees'Annual ReporL induding the Strategic Report and the finanaalsfaternents in accordance with applicable law and United Kingdom Accountsng Standards (United ￿'ngdorn Generally Accepbj A￿Unting Praclicel. Company law￿qUi￿S￿e Trusteesto p￿pa￿lInanc1aI slalemert5foreachfinantiaTyearwhith9tve a true and fairviewt* Ihe slate of affairs of Ihe charitable company and the group and of Ihe in￿ming resources and applicabon of resour including Ihe ino)me and expend1trJ￿. of the charilable companyand group forlhat period. kn p￿pann9 these finar£ial ¥fatements.thg Trustees are rèquiredlo.. S8lect5uitsbleaccounling policiesandth8n applythem oJn%stenly', observe Ihe methodsand principlesiftthe Charities StstsmentofRgcommend&J Pr8Clice ISOPPI., makejudgmentsandesbmate$lh2lare reasonable and prudent stste whether applicable UK Accounting Stsndard5 have been followed, subject to aThy material depar)J￿& disclosed and explained inlhefinancial stslements".and p￿pare thefinancial slatern￿ts0n thegoing COn￿M bas￿￿nIe$S1lIsl￿apPrOpr0lebprt$umeIhatthecha￿ta￿I2 CAirnpanywillconlinue in business. The Tru¥toes are respon￿blefOTens￿ringWo￿r8￿QUnti[¥Jr?¢ordSarekepEthaldi$dos¢Wi1h reason?bleactUra￿a1￿ty time the financial positionofthe charilablecomparyandlhtgroupand ¢nabl¢them bensur•that Ihe linantsal slatemerts complywiththe CornpanitrsAct2006. They ar8 a150 r85ponsble for safeguawding Ihe assets of the charilabje company and the group and hence for takry feasonablestepsforlhe prevenbon and¢etection offraudand other I￿g￿lari￿e5. OBJECTNES AHD ACTivmES The Charity's obj?ctslkn? Cl>j¢cts"larg spKlfI￿1IY￿str￿dtr? the followin To prornote the ￿nSerVatiOn. proterjion and improvemenlof tre phygcal and nabjral enVironmentan￿e￿ in OSp￿Y ()Jayand insofaras maybetharitstAeattorfingto the lawsof EnglandandWal85 in otherpar15 01 th8 United Kingdom. PUBLIC BENEFIT A Charity is required to meetone Of m¢ye of Ihe p￿S￿Ibed tharitsbltr purpose5 as sèt out in lh* Chaiilies Act 2011. planning the Twsf s activities. Ihe Twstees have had ￿gard to the Charity Commission's guidance IRR2 - Promoihjn Lrf Uftjan and Rural IWenerab"¢)nlon publi¢benefiL The public b•nefit li•s in Ihe provisi¢)n of land foro thaTilabl• wrp*Jsè either as a public amènity or in its presgrvaticn or nservation. OSPREY QUAY MANAGEME￿ SERVICES COMPAKI UMITED {A company limited by guarantee) YEAR ENDED 31 hlARCH 2021 STRATEGIC REPORT ACHIEVEMENTS AND PERFORMANCE A summary of Iht activitiès und•rlak•n by Ihe Trustduring the year and its achievements and perfomiance are setout Ih8 Chairman's Report. FINW4CIAL REVIEW Ov•r¥i•wand lftcorne The principal source ofincomeforlhecompanyin 202Cf21 wa5lnvesl￿rtinCom￿.capIt2IreceIPts3rt invtsled logentr investmentincornewhich is used to coverthe cx)st ofmanaging 05prey￿8Y for publKbenefiL The Trust ￿Ce*ved £nil cl site funL1ing in yeacended 31 March 202112019r20'.£nill. The Charities Investmentlncorneprovidesthe ong(Nrg rev8nuelolundth?CharilableActiwties. Duringlheyearinvestrn& incomewas£O.050m12019r20".£0.049m). Oue to the mlb"gaOThg adons pul in place by Ihe knvestrnent Committee. we were able lo avoid any Covid-19 impa¢tto investrnentintome. Following the lall in Un￿alISed lossesatthe en¢J of tre 2019f20FinancsalYeai of £0.047m.the rna￿ (y)ndib'onshaveimprov¢d r¢sulbngin unreali5edgainsalthe end of the 2020121 FinancialYearo1£0295m. Modellingofthe investsnentin¢orne indKa*sthattheCharityshould ngthave aG)ing Concem iswJe andfurth?r5tep$ h been agreèd to ènsurnthis is Ihe case. OknerTradingActivilJ"es 1n￿JMefOrthe yearendin9 31st March2021 is £1.10012019r20..£5,6201. Expendbture Total 8xpendibJr8 in 2020121 wa5 £0.013m12019120.. £0.012m).This fypresents the expenditure in felation to Ihe Nood earyi8rat Osprey Quay. The Charity generated a nel in￿mIng ￿sOUrce gJrplus (WO￿ Gains & Losses on Investments) of £0.038m{2019￿. £0.043ml.The surplus istskèn ts theTwsfs r8sérv•sandlhose fUn¢Js¥￿lh restri(*"onsateheldto beapplied in accorda wilh the restrictions. Flnanclal Investrnent Policy al￿ Performanc• The Charity'slnvestrnentpolicy is in line wilh Ihe knveslment Policyof its Mèmb•rlO)eLand Trusll, Ihis is rèviewed byTho Land Trus¢'$ Investment Cornmitteewhich sets outthe lOng4e￿ inveslmentobjecbve5.These are 855entiallyto generats alèvèl of incometo meetitsrelated ￿tee￿PendItrJle￿h1stmèlfttain1lg1he long termpurchasiig poweTof capitaland r￿£rne againstinflation.The valuoof Ihe powffolio was£l.7m asat 31 March 2021131 March 2020.. £1.4rn1. FIna￿la1 R•$•rvg$ The Trustees 8nsure that an adequate le¥el of reserv85 15 mainlained benable the CharKtyto manage linanc01 ri* ensure lhe￿ is suffioentfundrfj for1he1￿9 terni linan(ing olsitemaintenanca When Ihe Charitytookon OSp￿Y (Jjay. it commiltsd tokeeping Ihe sile opentolhe publicin perpettjityand ilmusttherg plan over Ihe long term. However. as incoming resourtes a￿ mainly generated from lnvesknenlre￿M$. tre Charity is subject to the effects of short tem volablity in these ￿ttIM5. The Charity ensures thal in the face of poientially volaI9 investrnentrebJms. adequate liquidfesourc•$ar•held tr) me*t5hort*mi maintenancecosto)mmith*rts. Expenditure on 05pr8y Quay 15 funded Ih￿ugha combinationofSeNc8Chargesand invesbnenlincomegenerat*JfK the inveslment ol site funding received on acquisitiorL Expendibjre 1$ carefulty plannèd nolto exceed availab18 fund4 example. iflnvestrnentincome We￿t0￿e￿ase,tht1e¥el ofexpenthbj￿tO￿hlch Ihe Charitycommitswouldalsodecr The Chafity monitorsits reserves, enabling itto maintain anarjequate le¥elof reser¥eslo cover aThy short terrn short fal n in¥8slmentincome. The Charity also reviews its central overhead commitrnerts both ￿ ensu￿ they a￿ commensurak Ihe needs of organisation and Ihe level of free reser¥esheld isadequale b) meetlheseobligal'ons. Followsngonfrom Ihe DesignalJ"on0fthe(*￿Y ()Jay General Funos. at the beginning oflhe 2018119 Financaal Year, the Charityno longerhas Free Reserves. The Trustees con￿der￿atthe5e destgnaled fund$a￿￿milar1OFw ReseThes as they havebeendesignaled forlhe s pU￿os￿0fthe managementofthè05prey ￿3Y silt. Th• Charity is byilding upits designaledlunds in case of a calasbophic eventat 0$p￿Y f)Jay, such as the tlestru¢tionof the flood barrie¥followiTrJ a storm.As at 31sl March 2021 the le¥elofDe5ignaled Re5eThesis £0.17m12019r20..£0.14ml. OSPREY QUAY MANAGEMEKf SERVICES COMPANY LIIAITED (A company limited by guarant••l YEAR ENDED 31 MARCH 2021 The Charityhas d¢arpoliLyeson resewvesandits designa*"onoffunds.hawng reviewed thesg polioesin lightof Iha #ffèctof Covid- 19. The Tru51 consdernlhat Ihese poh¢iesremain appro￿al83ndprO￿rI0rBte. Should the Charity take on further gtes in the United Kingdorn.the Trustees wouldreview Ihis designation olfunds.Curyentythere afe noplansforlh? Charityto lakè on anyfurtheisrtes. The Charity no longerhas Freè Rèsèrves as allthe General Fund$We￿ desvJnatedatthe beginniThJof Ihg pr8viouslinantial year. The Tru51ees considesthal the desrgnabonoflhe fundsforthe benefitof the site protect5 these funds aThJ allows the moniesto be spent on the site. The Charityholdsreserves to be applied tofubJreac*vities in a nufflbgrof categorie$: General Funds - these fundS￿D be usetl loranyof Ihe Chantystharilab￿ purp058S Designated Funds - these funds. are oth¢Thvi5s unTrstricted. are ea￿aT￿ by Ihe Trusleesfor Iho managernwrtof 05prey Quay. Resknctsd Funds - the58 fundsare appli•d to the variousspe¢ificpurposesin*nded bythedonors Unrostrict•d Funds The$8 comprise Ihe G8neral Funds andoesignaled Funds. The Geno¥alFunds at31 March 2021 amounled k)£nil12019120..£nill. The Designated Fund5 at 31 March 20218mountedt* £0.17m12019rio".£0.14m).This ￿P￿sentsI￿ndi￿deSL9naIa4 Slte maintenance. Restrl¢tedFunds At 31 March 2021 the Re5kn'cted Funds arnounled to£1.71m12019r20:£1.41m).7hese fundsar8 invested in the Charitys longlelm discrets.onaryinvestrnentportlolio. R•lat•d Partl•$ These are the Twste8s and Member organi5ations and detsts of these tsnsadions a￿ selout in Nok 17 under Rolatsd Party transactions. PLANS FOR FUTURE PERIODS The Charity'3 plan$lorfU￿r8p8rio￿sare s•tout in the Chaim)an's Rewyl PRINCIPAL RISKS *NO UNCERTAWTES The Charity's risk managemert pmcesses a￿ deS￿nedl0 enablg Ihe Board, on the advice of the Audit Committoe wlw Jnsiders reports from the Land Trusys Director of Finance. tl condude whether Ihe major risks to which the Chanty is expose¢J have been idenb.fied and ￿V￿le(1.8ndsYSleffl$and Pr￿d￿reShave b8èn estsblished tomitigate these risks. ThÈ Trust has CUr￿n￿Y idenb.fied Ihe main risks as 'Papid Expansion I(￿er1rad1ng Failur8 ID deliver contracts for Larnj anagemenv. 'Failur8 to wovide s*Mce kn SeNice Chawe Custjms, and 'FaIlU￿ to Klgntyly and mana98 a mai environmental issue,. Majof risks are Ihose which have a combined high irn￿and probablity of occurring and woul¢1 il they Ocojr￿d. a severe impaclon eith8rop8rational perforrnarteorachievemerfofpurpose andobjectives,orcould damagelhe Charitys reputation. The Trustees c4)ncenlrat8 their ellorts on ensuring that the most serious risks are being Managed effe¢tiK*rf. These ar• reported regtslartykn the Board and are alsoCon￿deTed indelail pwi¢)dicallybytheAuditCornmittee. The Charity'sapproach address85 riskin a wi1J•￿nt0Xt, wilh emphasison styategic, environrnentalandoperabona risks n addition tothe mO￿famIl¢ra￿asQl1in￿¢Il risk5.CA)rnpliaw*wilhsfa￿I0ryreqvlT￿rn￿tsènf1 intemal control procedure& The Charityasse5sesrisk intemsol its linanual and ￿pu&l"0￿11mpactandltsirnpèCton thedeliveryofits keyobj8clive& We are ￿nfiden(trat0UT methodologyenabl85U5to idenbfyand manage Ihe majoinsksfacingtho Charity. STATEMENT AS TO DISCLOSIJRE OF INFORMAIK)N TO *AIDifoRS The Trustees have eonfimed thaLas faras they are aware. Ihere is no relevanlauditinforrnationofwhich theauditotsaTe unaware. Ea¢h oflhe Trustees has confirned thatthey havelakvn all Ihe steps thatthey oughtto havelaken as Trustees. in ordarto makethemSelv￿aw3TeofartY ￿le¥antaUdrtlnfOM1alOnandb)es1ablI$hthal It has begn o)mmuntstèdtothe' auditots. OSPREY QUAY MANAGEMEKf SERVICES COMPANY LNITED {A company Ilmlted by guarantee) YEAR ENDED 31 ￿RCH 2021 AUDITORS A rB8dul*)n b) Y￿ppO￿tS81￿ry (￿ny￿$s￿lI ￿ w(W8ed attho AnnLMI Gen8ral Me& The Tnjsteas RW. wknith inthdestt* Ditckns R•i*xtt￿l Str* tythe Boardon 27th Awt2021 aTrl Jned on thoir L*half by.. Euan HAII Ch•lrn OSPREY QUAY MANAGEME1￿ SERVICES COMPANY UMITED {A company limtted by guaranto•) YEAR ENDED 31 MARCH 2021 INDEPENDENT AUDITORS REPORT TO THE TRUSTEES AND MEMBERS OF OSPREY QUAY MANAGEMENT SERVICES LIMITED Opinion We have audited Ihe finanual statsments of Osprey Qjay Management Services Company Limited forthe year ended 31 Ma 2021 wttich comprise the Statement oi financial adJ"vibes, balance sheeL $12tement of Cash flows and notes to the finan(i statements. inCluding&gnificanta￿Untin9 poliries. Thefinanaal reporftThJframeworkthathas been apF4ied in Iheirpreparation applicable law and United Kingdom Ac¢ounb"ng Staftdards. including Finanoal Reporbng Standard 102, Ihe Financial Reportir¢J Standardapplicable in ihe UK and Republicof Irdand (United Kingdom G8n8rallYAc￿pIed Accounting Practice). In ouropinion Ihefinancialstatements.. yive a true and fairviewollhe ¢haritsble ￿mpan15S1atrof aflair5asat31 March 2021 and of its ints)ming fesourcesarnj applicationof r850urcés,including itsincomeandoxpendibJffj.forlheyearihen ended.. have been propèrfyprepa￿￿ in ac¢xJrdan¢e United lQn9dom c*nera1tyA￿ptedACC£)unting Practice. arKI have been prepared in accordancewilh the CompaniesAct2006. 8asisf4Y Wmnion We eondueted OUT audit in accordance with International Stsndards on Audiling (UK} IISAS {UKII and 8pplieable law. Our responsibilitiesunderlhose 5tsndard5 are futherdescribed in the AUdit0￿S Tesponybllib"￿l0rthe auditof the financial ststemwts section of oUT￿pOrt. We are indepenoentofthechantablecomparyin 8ccor(Jancewith theethical reqvirementsthatare relevantto our audit of ihe finanoal slatements in the UK, induding the FRC'S Ethical Stsndard. anL1 we have fulfilled our olher ethical responsibilib.es in accordanr£ with these r8quirtm•nts. Wé bèliev• that lh* audit evidènce we have oblained is sufficlent aTrJ appropriate to provide a basis forour opinion. eoneluslons relating t• gomig ¢uK•rn In audib"nglhe finanoal ststernen15.we hav8condudedthallhe1rn51ee5' U5eof Ihe goingconcem ba%sof a¢xounb"ng in Ihe preparaiitin of the finanthal stsiementsisappropriak. Based on Ihe work we have perforned. we have not identified any m8*ri81 unc8rtAinties relating lo events or conditions Ihat, individyallyor¢olle¢tiv¢ly. rnaycasl 5ignrficanldoubton the charrtable companlsabibtyloc4)ntinue as a goin9 con¢¢mfor a pericd of at leaslfvlelve monlhsfrom when Ih8finanaal stslementsare aulh￿Is+d lorissue. ()Jr responsitAlifjesandthe re3ponsibillliesollh8trustètswith resped b) gtsingeonc*m arèdèscribed In Ihe ￿le¥antSeCO.on$OI Ihis raport. Oth•r ihtsmation The trustees are responsiblefortheotherinfonnaboThTheolherinfomatson¢omprsesthe inftsmwb"onincludd in the annual report olherth8n the financsalststemertsand Ouraudltorfs￿wthereOn. (Jjropinion on Ihefinanual stat8m8rtsdoesnotCOV8Tthe oth infornabonand. eX￿pt lo Ih* exlent otheThvise explioly sialed in ourreport we do not express any form ol assurance concla Ihereon. Our ￿SPon￿b￿ltyiSto Ihe olher infonTration and.indotng so. Qytsiderwhelherlhe olher infoThation 15 malwiallyineonsisknl with the financial stalemertsorour knowledgeijbtained inthecoutseofthe audit or01he￿1se appearslo be maieriallymisstated. we tdentifysuth matsrial inconsis18nciesorapparent mat81ial misst2temerts.w8 arè required ks detèm)inewhetherthis gives rise to a material mis5ts18mentin the finanoal slalementsthemselves. K. basedonlhe wolk we have perfomi ed,we conclude thatthe is a matsfial misststeM￿1ofthis0lh¢r infonnationwe are requir8dlorewJrtthat fa( We have nolhing reportin this regard. Oplnknns on otr*r matter$pr¢scrknedby the CThnpankn5 Act 2006 In ouropinion. basedonb)e WO￿ undertaken inthè Ix>ursÈof Ihe audit Ihe inlomab.on givenin the Truslees. Annual Report whichincludes the Directt)r5' F*port and Ihe Strategic Report for Ihe nanc*al yearforwhi¢h thefinanoal Ststsmentsare P￿pa￿d isconsistentwritt) Ihe finantial statemgnts."and the Trustees, Annual Reportwhth indudeslhe Dir*ck)rs' Reportand the Strategic Reporthasbeen P￿pa￿d in accord with applicable legal￿QuIements. OSPREY QUAY MANAGEIAENT SERVICES COMPANY LIMITED (A company limited by gu¥antse) YEAR ENDED 31 MARCH 2021 att•rsim whkh w• ar• reqwtd to f•pxt ty •x¢epl# In the lightofthe knowledge and understanding oflhetharitsble ￿)Mp•yand its•n￿ronMentobtsin8￿ inthecourse ollhe audiL w• havè not identified material rni5StaternentsintheTwu5tee5' P4)nual Repo We have nothingkn reportin respertofthe ftsllowing matterswheretheC0m￿n￿ACl2o06 requiresusk) reportto you if. in ¢wr opinion: dequa18aecounting recofdsha¥e not been kepL or ￿tyrn$ adequatefor0uraud1th8￿ NOtbèanf8c8¥vedffom branc￿$ not visiled by us: or the finanrAal slatementsarenotin agreementT*thh iheaccoJnb"ng ￿e0rd$andre￿IrnS.' or ¢ertaindisdosuresoftrustees' remunerab.on speofied bylawarenotmade.'or we have nol ￿ceIVed011 the infornalion andexplan*on5werequireforourauditor the truste85 were not enb"lJe¢J lo p￿pa￿ Ihe financial stskmerts in ac(X)rdan￿ with the small COMpan￿S regime aThl b take advantsge ofthe small wmpani&8xernplion in preparing theTnts*es'Annual Reportand the Strategic Report. Rtsponslknlit*$ of tru$t¢g9 As explained morè lully in Ihè TnJstees' Responsibilities Ststementset out on page 7. Ihe InJstee8 (who are a150 dirèctors of thè charil3b18 companylorlhe purposes of ujmtony lawl are respon5bleforthe preparation tsf Ihe financial statements and lor b*ro sabsfied that they giv8 a trua and fairview. and for suth inlemal o)ntrol as the trustees detennine 15 necessary t* enabbe b preparats.on of linanual stalementslhatare freefrom maierial mi55tatemertwhetherdueto fraud or error. In preparing the finantaal ststements. ihe trustees a￿ ￿spOnsIble lorassessing the charilable rxsmpany¥ ability to conlinu8 as 8 goin9 concern. disclosing. as appli￿￿4￿, matters related lo going concem and using Ihe going COn￿M basis ol accour*ng un*& Ihe trustees eithef intend to bquidate thecharitable companyof to ceaseoperabons.or haveno realisticalternab.veto ¢Jo 50. Audttor's responsibl￿tleS for th• audit of the fm•n¢ial ststements We have beenappointed asauditorsunderlheCompanieskA2006and reFOrtin ao*ordancewith regulalionsmade undwthatAct. ()Jr objectives a￿ to obtsin ￿8$onable assurance about whether Ihe finaneTal slatements as a whole a￿ free from material rnisslaiernent, whether due to ffaud or error. and to issue an audilorfs reportlhal indude5 our opinion. RBasonabkn assuraTTh s a high level of 8SSLtrance, but 15 not a guarantse that an audit conducied in actordance wilh ISAS IUKI will alway5 d8t8Cta m8i*r*l mis5talement when il e￿$1$. Misslalements can arise frorn fraud or effor and are considered material if. individually or in th2 aggregale. they ¢oul¢J rsason&bly be expe(xed to influence the ecorKJmK derisicn50f usw5 taken lh8 basis of th&sè finano staiements. Irr•gularitie$. induding fraud. ar8 instAnces of noners,asabody. in3￿0rd3￿ce Chaptef3 olPart16 oflh8Corn t Aci 2006. Our audilwork has been undertakenso thaiwè mightstste to Ihe Chan￿ble company's membwslhosemèttèrs w• are quir8d to state to them in an auditorf5reportand forno other Pu￿058. To Ihe full8Stextent perrnitttd by law, wè ¢Jo not acceptor assumeresponsbilitytoanyoneother than the tharitsble companyand Ihe¢hanIab￿COmpany,$MeM￿rs85• body. lorour au(J% work. forlhis reporL orforlhe opinionswehave lonned. Cara Turb"ngton ISeniorStattJiory Auditor forand on bèhalfofSaffèryChampntssLLP CharteredA¢¢ounta• 71 lknenVkt*xh Strt•l EC4V48E Statutwi Audttors - 6 CLkU- 2021 SafferyChampnessLLPiseligible to act as an audiknrintewm50f secborb 1212of Ihe CompaniesAd2006 OSPREY QUAY MANAGEME￿ SERVICES COMPANY LIMITED (A ¢ompany limited by guaiantee) YEAR ENDED 31 IIARCH 2021 STATEMENT OF FINW4CL•L ACTlVtrEs YEAR ENDED 31 MARCH 2021 Y•arEnded 31103rd021 Year EThhd 31A)312020 F￿d* Fw In¢om• from: Olher Tradin9A¢tivities Si¢e Funding Invesknents Tt)tal Income 1,100 1.100 5.620 SO,271 51.371 50.271 51.371 49.286 54.906 Expendltwe *Jn: Raising Funds CharitableActivities Totsl expenditure 13,119 13.119 13.119 13.119 12,156 12.156 Netgain￿lloss•s￿0n invesb7)ents 294.755 294.755 {46,6421 Corporaty"onTa¥ Net Income4expenthture) 38252 294.755 333,007 130921 Translers Net r¥lov•m•rtin funds 38.2$2 294.7S5 333.007 13M921 ReconclliatM￿ of Fund5 Tol31 Funds broughtlorwarTJ Totsl Fund5 carrled forwaTd 135.514 173,7fj6 1.411,232 1,705.987 1,546,746 1.879.753 1.550,638 1.546.746 12 The Charityhas no r•eognis&dgainsorlossesoihei Ihan as slated inthe Ststementof Financial Aclivities. Hlslorical comparab16sare showninNote 18. 12 OSPREY QUAY MANAGEMEpff SERVICES COMPANY UMITED IA ¢rMnpany Ilmlted by guaranteo) YEAR ENDED 31 MARCH 2021 BALANCE SHEET AS AT 31 MARCH 1021 3110*2021 3110312020 Flxed As••ts T8nglN& 8888ts In¥e81men18 Total Flx4d Assots i.rL1.136 1.721,137 1.426,381 1,426,382 Curront A888ts 12.898 152,497 185.195 14.583 110,108 14091 Cash In bank and In hwKI Total Cun*rtAs8•ts u4AiItI•B credito￿ f811ing due orw yaar io {8.579) 14,3271 Not CumtABset• 1*616 120.3 Tolal Not A•80ts q.879.753 1,546.746 Tho funds of th• chuw. Restrkled Fund Unrgstridad FuThlg Total Charltyfunds 12 12 1,705 173. 1,879,753 1.411232 135.514 1,548,746 12 Th8 dal 6tatwnenl¥**r• apprO￿d byth• artl¥JIi￿ fvxls￿0n 27• Aw5120210Th15MJrtI ￿ Ils b8hairty.' Euan Hall Tw$te8 13 OSPREY QUAY MANAGEME1￿ SERVICES COPAPANY LIMITEO IA ¢ompany limited by guarantee) YEAR ENDED 31 MARCH 2021 STATEMENT OF CASH FLOWS Y8arEndod 31103r2021 Year Ended 31M3121120 Net cashpro¥id•d by (￿ed Inl oper8tii¥J actr4ii*S 13 17,8821 17.6211 Ca$hflow$ from Inv¢stlng actfvlli•s: Divid8nd5. interestand rents from investsnents Purchase of investrnents 50,271 49,286 Purchase ofTangible Assets Proceedslrom saleof inveslrnents Net ¢ashused in imi•stirvJ #ctl¥Stle$ SO271 49,286 Cash flows from financing activities: Additionsto &'te lunding N•t¢ashprovithd by ffin•n¢trg a¢lr41tlès ChawvJe ￿ cash and eash•wNalMts In the rep¢¥liry perKxl 42,389 41,665 Cash and cashequivalènts at Ihe beginningofthe reporhng period Cash and ca$hequivalgnts atthe endof kne ropoffjng period 110.108 152.497 66.443 110.108 ettan￿ In ¢a$h and ¢ash•qulvalents In the r•p¢xtir¥J peTiod 42 J89 41.665 14 OSPREY QUAY 141ANAGEMEt4T SERVICES COPAPANY LIMITED IA company limited by guarante•) YEAR ENDED 31 MARCH 2021 NOTES TO THE CONSOUDATED Flhl>J4CIIL STATEMENTS ACCOUNTING pOL￿£S. 0$p￿Yau#Y ManagemenlServicesCorrtparyLimited isatharityregisteredwith lh8 Charitycommi￿C￿ in England and Wales No. 1166655. ifs r8gsstered addressis 7 Birthwc4xlCm•. Dewhurstfvjad, Birthwo¢)d, Warringion,WA3 7GB The principal accounlng policies adopted. Judgomwtsand key sourcès ot esfimation vncertainty in Ih? preparalion of th8 fin8naalst2tementsareasfolh)ws'. BASIS OF PREPARATK)N AND *SSESSMENT G(XMG COMCERH The financial ststements have been prepared in aC￿rdance with Accgunbng and Rèpoiting by Charities.. Ststemenl of RecomrneTrded Practi£eapplic*letoeharitiespreparingtheiracmintsin a￿ordan￿￿11h the Financial Reporbng sfanda applicable inble UKand Repvblcof Ireland IFRS 102115econd editsth}-IChartesSORP IFFIS 10211.the Financial Repoffjng Standard applicable inthe UK antj Republicol kelan¢Y IFRS 1021 andthe CompaniesAc12006. Thg trust constibjtesa publicbenefitenlity as defined byFPS 102. Tho Trust hasa clearfocu50nmana9ing I&￿stsand.￿0rhJng wilhin itsappetiknforrisk,5e•ksto generate max1Th￿rnI￿e from its inve51rnentportrdio. We wnlinueto reviewand preparelong temi 10￿¢8$tsand proiect"onsto showlhat The proj&cled incomefrom each endowmertand sitefund is suffiaenltorn8etits expectedoperating costs and The contribution margineame(J from the Manag￿nt of Ihese siies. plu5 the Disengagemert Gran[ is sufficientto meet central ￿$ts suth that Ihe Trust ￿nera*will equate W0￿"n9 Capital b) ￿mainl1nan￿1ty$uS18lnabIe in the long t8m. Th? Tru5t8es hav•therelor•¢ontinuedto adoptlhe fyJingC0n￿rn bagssn P￿paring1heann￿al Financial Statement5. The Directors of 0$p￿Y Qjay managemertserv1￿s Limited have assessed the impact of Covid-19 on Ihe comparfs business andresults. INCOME All incomèisre¢ognisedoncelhe Trust has entillernentlo Ihe irKomo. iti$ probablg thaithè incomewill be rec*ivedand Ihe amountol incom8receivablecan bemeasured ￿lIalty. Interest on fund5 held on depositis a(twed anLI Ihe amountcan be MeaSu￿d reliab￿ by the chaiity.. thi5 is norrnalty L4 notilicab"onofthe Inlerestpayablebylhebank.Di￿dents8[￿reLyJgnIsaS0￿c8 Ihe di￿￿*￿j has been deckn￿daDd notilra hasbeen received olthe di￿dend due_This is nom)allyupon notsfration by0urlnveslmertad￿so¥tr1ihedI¥SdÈn￿Yield of 0 investrnentporffolio. DONATED sERV￿E5 W40 FACILtrEs Oonatsd professionalseryices and donated faoll.res a￿ recognised as inco￿* when Ihe charity ha5 control over th* item, any conditionsassociafedwith the donated item havè been meL the receiptol economicbeneh"tfrom Ihe use by the charity 01 Ihe itèm is probable an¢ Ihat economic ￿nefi1¢an be measured reliably. kn accordance wilh Ihe charib.es SORP IFRS 1021. the 9enwal volunteer b.me 15 not recognised and refer In the tru51ees' annual ￿pOrt10r more infom)ats"on about thew conlributson. On receipL donated p￿ressIOnal seNces and donated facilib* afg ￿9)gnISed on the basis of thè value of the gift b) the charity which is the amountthe tharitywould have been willing b pay b oblain seM¢es or facilitiesof equivalenlewmmic benèfiton the open martec a corresponding afflojntis then r¢cTrJnised Inexpendi￿re in the peiiod 01￿Ctipt. INVESThIENT INCOME vestrnentlncome isfe(wnised on a T￿1Vable basi& EXPENOtniRE Liabilities8￿fecO9n1sed as reSouf¢esexpend￿3ssQon aS1he￿ v4 a legalorconstruetive obligatitineommrtbngtheTrustto Ihal expenditrjre. Expendibjre Is rtwni5ed when. and tr) the ethnt thaL a liability is incurre4J or Inueases wilhoul a (xlrnrnensurate increase in ￿COgnised assets or decreasein liabilibes.AIexpendi￿re 15 ac¢ounl8dforon an acerua Is basis and is clas&fied under apprcpriaie headir¥Js Ihataggregat8 all co515 relating to Ihe tategory. hecoverable VAT is charpj a9ainstthe categoryof resoufc*sey4)ent1ed foiwhthilwas inuJry8d. CHARrrA8LE EXPENDrruRE Charitable eXpendI￿re indudes all expendity￿ assoriate(I with the TnJ5f5 tharitable èctivsties, induding support costs. Supportwsts indudecentral offti furt*"onssuch asgeneraIManag￿￿n(flnar￿8ndaccounIIng. ITand human resow 15 OSPREY QUAY MA14AGEMENT SERVICES COMPANY LIIAITED company limited by guarantsel YEAR ENDED 31 MARCH 2021 OThER EXPENDrruRE OtheT eXpendibJre￿p￿$entsthQse1Iemsnotf0ll1n9 inbanyolher heading. TANGBLE AXED A&WS Tangiblefixedassets a￿ Sta￿ athist¥ricalcosL Freehold land ts notdeprecaa*d. FiXED ASSET INVESThIE14TS Inve51rnents are stsle(l almarkel¥alueat Ihe balancesheetdale. DEBTORS Trade and other debtor5 are recognised at the 5elllementamountdue after any trade dis¢ountoffered. Prepayments &B valued at the amountprepald netofany trade discountsdue. CASH AT BANK AMD W HW40 Cash atbankand cash in hand inctudescash and shorttenn highlyliquid invesimentswilh a short matr4rityof l)r•e months or less frorn thedate ofa¢quisits"on oropeningof Ihe depo*torsimilaraccovnL CRED￿oRs AJ4D PROVISIONS C￿￿1101$and pro￿S1on$a￿[eCo￿i￿ wherethe tharityhasa presentob1vjati¢￿ resultirYJfrom a pasteventthatwill probabty resultin Ihe tran5ferof lund5toaViird partyand the amountduelo setuetre obligatson can be measurèj orestimatedr8llab￿. Creditorsand prowslonsare normallyrecognisetl aitheirseiuemeniamountalteralk)w"ngforanylradg dis¢ountsdu¢. FINAI4CL4L INSTRUMENTS The trust only has finanoalassets and finanoal liabillbesofa kn"n¢J thai qualifyas basi¢ finanoal instruments.8asicfi naTh￿l instrumenls are initialty recogntS8d al tran5aclyon value and subsequenoy Measu￿ at Iheir setdement value with the exc8ption olbank thnswhith aTe stjbsequentyrneasuredatamorbsed ￿$tU51ng lh8 effectivtr intèrestmothod. LEASING ¢(￿MMIeNTs Rentals paid underoperaling1gase$ar8 char98d b Ihe slalern8ntof financialacb"wb"e50v8rth•lifeof Ihe lease. GAWS AJ40 LOSSES ON WVESTIAENTS AJI gainsand lossesar¥laken b Ihe StstementolFffianthalAthilesaslhoyarise. F*alised 98￿Sand losseson investmwts a￿ ealoJlated as the difference bets4een sales proceedsand Iheiropening L¥[r￿n9valUe ortheir purchasevalue if acquir&J subsequenllo Ihe fir5tdayoflhe linancialyeaf.Unrealisedgains and losses are calculated asth8difference beh¥e8n iheF&"r value at Ihe year end and their value. Realised and unrealtsed invesknent gains and losses are combined in the Sta¢emenlof FinancialAcli¥ili85. FUNDS STRUCTURE Funds held by Ih8 group afe". un￿SIrICt￿￿gen8ra1fUftds These are fund5which can be u¥8d in acwrdancewilhlhg chartiableobjecisat Ihe disuelionof Ihe Trustee5. Designgtedfunds These f￿d5have been earnarked0utolunr￿*riCled lunds bythe Trustses forspeufic purposes. ReStricted￿ndS . These arelundslhatcanontybeusedforp8rbcularreslrrdedpufpose5¥Mlhin Iheobj8dsollhe Trust Res¢n"ctions arise w specified bylhe donororwhen fundsar• raisedfor partit>Jlarrestrided puwjses. CORPORATION TAX O$pr¢y Quay Mana9emertSwvices Company Limile4 as a regists¥ed charity is exemptfrom Cowration Tax under the Corporatson TaxAct 2010 lthaptets 2 and 3 of pafl it, sedion 466 onwards) or sects.on 256 of Ihe Taxation lor Chargea4e Gains Act 1992, to the extenllhat surplusesareappliedb) Its Charitab￿ purposes. 16 OSPREY QUAY mANAGEMETr￿ SERVICES COMPANY LIMITED IA ¢ompany limited by guarantse) YEAR ENDEO 31 UARCH 2021 OTHER TRADWG ACTMTIES.. Unrestrlcted Funds Re$tri¢t•d Fund5 YearEnded 3110312021 Sitè Activile Miscellaneous Incorné 1.100 1.100 T*ilal 1.100 Ino)mglrorn site 8¢tivilesr8lates to licenceféo$for¢v¢nts hgldatosprey ￿ay. Miseellaneousincome represenlssernce Cha￿e1n￿meffrDfflthe managanenloflhe S￿¢eCharge site. INCCthIE FROM WVESThIENTS: Uw•strl¢t•d F￿d5 R•stri¢t*d Fund5 Year Ended 3110312021 kntsrest IntefeSt& Dimdendsfrom knvestrnents 50271 50271 50.271 50.271 Y•arEnded 31103r20 49286 49.286 Historical compaTable5are shown in Note 18. TRUSTEES, REMUMERATKIN: Expensès daimed by Ihtr Trustees in 2020r21 fotyiied £nil12019r20: £nill. The Tfustees ￿ceiVed remunerabon in 2020r21 12079r20'.£nlll. 17 OSPREY QUAY MANAGEMENT SERVICES COMPANY LllJllTED (A company limited by guarantee) YEAR ENDED 31 MARCH 2021 ANALYSIS OF EXPENDITURE: Basls ol Ralstr FuThts Char*•bl Cxher Y•arEnd•d 31K13R021 Costs dire Sile Maintenance Direct 2.123 2.123 E￿nts Dire¢1 Insurance Legal& Professional Audit & Accountan¢yle Irre¢overableVAT Dited 1.763 1.876 1.763 1.876 Diwd Di￿￿ Mana98mentFees Dired 7.000 rttosts all es Gtneral njnning costs matheb.ng location 357 35T Allo￿tion 13.119 13.119 Urrestricted F￿1￿￿ Restricted Funds Y•arEndtd Year EwMt•d 31m3ra1 Raising Funds CharitableActivibes 13,119 13.119 13,119 13,119 Total Ex￿nd¢luT• YearEndod 31103r20 Raising Funds ChariiableNxb"vits"es 12.156 12.156 12,156 12,156 Total EXpe•￿ilur• Basis ol Allocation Cost allocation includes an elern￿tof judgernent #nd Ihe Tnjst has had kn cot)sdw the o)sl'. benefitof detsiled calculabon5 record keeping.eases forcalrjjlation include.. Spethficcosts have been attfibuted where possiblg Overheadshavebeen allocated b) siteson the basisset outinlh• indi¥idualfundingagrwn•nts Other costs have been allocated based on manageM￿les1jmales0f usa98 Osprey ￿aY ManageMentSerV￿$c0mpa￿LiMIkd hasnodiredlyemployed slaff. Historieale0mpar8blesa￿ shown in Note 18. CORPORATION TAX The mainactivityof the Charityis ts pro¥idedwnlab1eacb*Atses.Ihe￿fo￿no￿rp0ration laxi$ payableonany $urplu$from thes• 18 OSPREY QUAY MANAGEMENT SERVICES COMPANY LIMITED (A ¢ompany limited by guarantee) YEAR ENDED 31 MARCH 2021 NET INCOMEIEXPENDMJRE: Year EThJ8d 3110312021 YearEnded 31K13f2020 This Is stated aft8rcharging". ' Remuneration ExtemalAudityrs Currentyear AuditFee$ 1.875 1,825 FiXED ASSET INVESTMENTS: YoarEnd•d 31K13r2021 Y•ar End•d 31m3r2020 Mark•IVal￿ as at 1st 1.426.381 1.473,023 Addiiions Disposals Net in¥estrnentRealised & Unrealised G?￿￿￿o$se$l Marketvalue as at 31stMarch 2021 294.755 1.721,136 146,6421 1826,381 YearEThled 31103f4021 Y•arEnded 31103r2021 Yeaiended 3110312020 Y¢arEnded 31103r2020 UK l>•¢rs¢a$ UK Ov•rs•as Investrmentsrepresented by. ted Balan￿d Funds 1.721.136 1.426.381 1.721.136 1.426.381 Investrnentsare held prim8ri1ybJ Pfovideinv•sbn•ntincomebmanageand mairtain th• chorityssrtes. The fixed asselinvestrnenLs are held in rnana3edlunds andmwaW byCCLA, howeverwithinlhi5 Balanced Fund the Sha￿hC1thng a￿ ¢Jiversified tominimiseanyii$ks.The historic￿st ofthe In￿Str￿ents8saI 31 * March2021 was £1.3m12019r20..£1.3rn1, ba*1 on a weighted aVerage￿ICula￿0n. 19 OSPREY QUAY MANAGEMEKf SERVICES COhlPANY LIIAITED IA company limitsd by guafantee) YEAR ENDED 31 MARCH 2021 DE8TORS: Year Ended 31103rd021 YearEnded 31103r2020 Amountsfallin9 duèwithin one year. rrade Rèceivables 1.920 Amountsowed Irom ￿0￿p Undertakings Pfepaymeftls&A¢crued Income 12.698 12,663 12.698 14,583 10 CREDITORS: Y•arendÈd 31+Y1312021 YearEnded 31103r2020 Amountslalling duewithinoneyear. Tradg Credito¥s 2.446 $09 Amountsowed to Group Undertaknngs ctsrporab.on Tax Accruals& Deferred In¢xJme 837 3.625 6.579 3.489 4,327 11 ANALYS15 OF M￿ASsETs BETWEEN FUNDS.. Umeslricted Funds Re5trict•d Funds Total Funds 31103r2021 Tangible Fixed Assets Investrn8nts Ifsxed and currènt) CurrentAssets 1.721.138 1.721.136 180.344 16.5791 173,766 115.1481 165.196 CurrentLiabiliti•s 16,5791 1.879.753 1.705987 Historical compavablesare shown in Nole 18. 20 OSPREY QUAY mANAGemEP￿ SERVICES COMPA14Y LIAIITED (A company limited by guarantee) YEAR EPXIEO 31 MARCH 2021 12 ANALYSIS OF CHARITABLE FUNOS: Balanceat 31￿3t￿O kn¢•mt Expenthtur• Transfv Galns I IL05s•sI Batanceat 31103nl Re$trfctedFunds 1.411,232 294.755 1.705,987 UnrestrictedFunds D•$lgn•ted Fund5 General Funds 135,514 51.371 113.1191 173,766 1.546.746 51.371 294,755 1,879.753 RestrktedFunds Cerlain land agreemenlshave re51rictionson the ewndTbJ￿ofanYIncomeT￿hIchIs 9arnedffom Iheinvestedcapitsl. The in(ryne can be u￿d 0￿y￿ mainlain Ihgsit•s noted inlh8 agreements. G•n¢ral Funds The ganèral funflscanbeused in acuydancewith the ¢haritableobjecb"vesatkne disue11￿Ofthe Twstees. D•signaled lunds These fundshave been garmarkedoutof un￿$trI[￿￿fYn￿sbY Trustees forspe¢ifiCpurpo￿$. Historical¢omparabltsare shown in Not• 18. 13 NOTES TO THE STATEMENT OF CASH FLOWS: YearEnded 31103rd021 Y•ar End*¢J 31103r2020 Roconcllhtlon of n•t kn¢ 835 2.252 {7,8821 (7,6211 14 ANALYSIS OF CHANGES W NEfDEBT: e•l)n¢e at 31103RO Ca$h F*ws Balance at 31103rd1 Cash and Cashequhfalerts Cash 110,108 42.389 152,497 110.108 42,389 152.497 21 OSPREY QUAY MANAGEMENT SERVICES COMPANY LIMITED (A company limited by guarantee) YEAR ENDED 31 MARCH 2021 15 GUARANTEE COMP*IIY *JID LiIBufY OF MEMBERS: (￿PreY auay Manag&mentSeNces coM￿Y Limited 15 a company limited by guaranl8è and Iher8f¢ye does not have any sh apitAI. The liabilTrtyol Mtrmbersis limited. In the eventol the companybeingwound upduringa Memberfsp?riod ol membetshiporwit oneyear afte￿ards, an amountnotexceeding the SLtm 01£10 rnaybe requI￿d from thatmemberlowardsthepayrnenlollhe debts and liabilits"èsollhe cornpanyincurredbefore memberslipceased. As al 31 Marth 2021,th8 companyhad onel•lemberl31 Marth 2020:onel. 16 CAPITAL COMMITMENTS: There We￿ Tro capitsl ¢xJmmitrnentsat31sI Marth 2021 12019r20.'£nill. 17 RELATED PARTr TR*NSACTK)P4S: The Charity hasconsidered lh8 disc105urerequitemen150flh8 Slalem8ntofRecommended Practic• lorcharitiesand beltev85that the relaled paty transa¢bon$madeonan arm'slength bas15we￿£nlI(2019I20..£nI1). 18 COMPPJUBLES FROM PREVIOUS MAMCIAL YEAR: STATEMENT OF FWANCL4L ACThIITES YEAR ENDED 31 MARCH 2020 Note Unr•stri¢tthl F￿d5 Restrict•d Year Endèd 31A)312020 Year Endgd 31A13r2019 In¢￿7* frt)m: Olhaf Trading Acti￿li•S S.620 5.620 Slie Funding Investrnents 49286 49286 48,372 Total In¢ome 54.906 54.906 48,372 EX￿ndIt￿0 on: Fl2isin9 Funds Chari12bleActivites 12,156 12.156 9.074 Total gxpendltwe 12.156 12,156 9.074 Netgain￿Los$8S)0n Inveslments {46.6421 {46.642} 107.733 CorpofaJonTax Ngt I￿oM•￿eX￿ndrtur*I 42.7 (46.6421 I3￿92) 147,031 Transfers Net Ilo¥èm•ntkn lunds 42.750 {46.6421 13,8921 147,031 Reconcillatlon of Funds Total Funds broughtloward To¢al Funds Carrled fryward 92.764 135.514 1,457,874 1,411232 1,550,638 1,$46,T46 1,403.607 1.550.638 12 22 OSPREY QUAY MAMGEMENT SERVICES COMPANY LIMITED {A cgmpany limited by guarantee) YEAR ENDED 31 MARCH 2021 INCOME FROM IMVESTMENTS Umstrkted Fund5 Restrlcted Fund5 YgarEnded 31103r2020 Bank Interest Interest& Divi¢Jendsfrom Inv￿lments 49283 49.283 49286 49.286 NALYSIS OF NET A8SEfs BEIWEEN FUNDS: U￿strIcted Funds Restrktfjd Funds Total Fund$ 31103r2020 Tangible FixgdA5sets Investrnonts Ifixedandcurrènti CurrentAssets 1,426,361 {15,1491 1.426.381 124,691 14.3271 1,546.746 139.840 14,327) 135.514 CurrentLiabilities 1811,232 ANALYSIS OF CHAR￿￿LE FUNDS: Balanceat 31A)3119 Gah￿ i ILoss*$l Balanc•at 31M13r20 R•$trictedFuf 1.457074 {46ffi421 1,411,232 UnrestrretedFunds Designated Funds General F￿d$ 92.764 54.906 112,1561 13S,514 1.550.638 54.906 112.1561 146.6421 1.$46,746 23 OSPREY QUAY MANAGEMEMT SERVICES COMPANY LIMITED company limited by guarantee} YEAR ENDED 31 MARCH 2021 ANALYSIS EXPENDITURE Ba$1501 Raisi CharitaL thvi¢ws YearEr￿ed 3110312020 Site Maint8nanc8 01￿ct Events 120 120 Insurance Direct Legal & Professional Audit& Ac¢ountsncyfees IrrecoverableVAT ManagementFe95 DI￿¢t 1.450 1.825 1.450 1.825 Oirect Direct Diffjct 8.489 8,489 ortcosts allocated knactimlllies G•n•raltwnnlngcosts Mawkebng 273 273 Jlocats"¢)n 12.156 12.156 24