REGISTERED CHARITY NUMBER: 1167759
Report of the Directors and Trustees Unaudited Financial Statements for the Year Ended 31 March 2021 for The Fintry Trust A Charitable Incorporated Organisation (CIO)
The Fintry Trust (A CIO)
Contents of the Financial Statements for the Year Ended 31 March 2021
| Page | |
|---|---|
| Report of the Directors and Trustees | 1 to 5 |
| Independent Examiner's Report | 6 to 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10 to 17 |
| Detailed Statement of Financial Activities | 18 to 19 |
The Fintry Trust
Report of the Directors and Trustees for the Year Ended 31 March 2021
The Directors and Trustees present their report with the financial statements of the charity for the year ended 31 March 2021. The Directors and Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
11677596
Principal address
Fintry Church Lane Brook Godalming Surrey GU8 5UQ
Directors and Trustees
Mrs P Jeanrenaud A M Butters Miss G Priestley M C Morison S J Wade Dr S Jeanrenaud
Independent Examiner
M S Leigh FCA CA Azets Audit Services Limited Chartered Accountants Ashcombe Court Woolsack Way Godalming Surrey GU7 1LQ
Bankers
Barclays Bank plc 19, North Street, Guildford, Surrey, GU1 4AG
Investment Advisers
Investec 2 Gresham Street London EC2V 7QP
Page 1
The Fintry Trust
Report of the Directors and Trustees
for the Year Ended 31 March 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
On 1st April 2017 the Fintry Trust changed its status from a charitable trust to a charitable incorporated organisation (CIO). The name of the organisation and its purpose remain unchanged.
The Fintry Trust was founded in order to make available the Ideal Philosophy, Religion, Science and Art which have been expressed and developed throughout history in the Eastern and Western streams of thought. The centre of the Trust's activities is an Arts and Crafts Retreat House in the Surrey countryside. Retreats, classes, talks, and recitals bring a varied approach to the Ideal life, and towards this end the Temple serves as the heart of the house, and daily devotions are celebrated which strengthen and maintain the spiritual atmosphere within which all its activities take place.
The Charity is controlled by its governing document, the CIO Constitution and is a Charitable Incorporated Organisation.
The Board appoints Directors and Trustees. The Directors and Trustees who served the charity during the period were as follows:
Mrs P Jeanrenaud - Chairman Miss G Priestley Mr M C Morison Mr A M Butters Mr S Wade Dr S Jeanrenaud
Recruitment and appointment of new Directors and Trustees
The Constitution provides for a minimum of 3 and a maximum of 8 Trustees and Directors. Where there is a requirement for new Trustees these are identified and appointed by the existing Trustees and Directors. The Chairman is responsible for the induction of any new Trustee and Director which involves awareness of a Trustee's and Director’s responsibilities, the governing document, administrative procedures and the history and philosophical approach of the charity. A new Trustee and Director would receive a copy of the previous year's annual report and accounts and a copy of the Charity commission leaflet 'The Essential Trustee: What You Need to Know'.
Risk management
The Directors and Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustees have established a risk register to identify and manage the major risks to which the charity may be exposed.
Strategy
The Trust is an educational charity dedicated to integral wisdom. The Trust’s five-year strategy promotes this purpose; develops and delivers a programme consonant with this objective; supports and expands its community of beneficiaries; and maintains and upgrades its physical infrastructure, given the availability of human and financial resources.
In accordance with the public benefit requirement set out by the Charity Commission, the Trust engages in a range of educational activities in line with its aims. Activities are open to all regardless of ability to pay. These activities include providing taught courses in several formats (evenings, study-days and residential weekends); offering organized retreats and making the retreat house available to like-minded organizations (thus extending our reach); providing a library of rare and important books on mysticism, religion and philosophy; publishing and distributing a series of books and magazines under the 'Shrine of Wisdom’ imprint; maintenance of two websites in support of the above.
Page 2
The Fintry Trust
Report of the Directors and Trustees
for the Year Ended 31 March 2021
Looking at the overall financial aims of the Trust, an important part of the strategy programme is to increase funds to cover additional activities. To date we do not have a particular fund-raising policy in place, relying on donations, rental income from the cottage, lodge and the flat, and the small amount raised by the sale of CDs, cards and books.
Chairman’s Report
On the home page of our website is the statement “Lives inspired by truth, goodness, beauty and unity”. Holding these thoughts, even in the midst of the challenges of the past year, has helped the Trust to focus on the positive aspects of the difficult conditions, restrictions and hardships that everyone has had to deal with during the Covid pandemic.
At the beginning of lockdown, the Trust moved swiftly to transfer our events, talks and classes online. Thanks to our Manager, Julie Parker, a relatively full schedule was expanded and adapted to meet changing circumstances, and a substantial income generated as a result. We were fortunate to have been able to take advantage of the government’s furlough scheme, while the gardeners, David and Jason continued to work in the grounds. Those who have enjoyed walking through the gardens will be aware of the care and attention that has been paid to keeping them orderly and beautiful.
During this period the Trust has had the opportunity to review the way it operates. In line with our current Strategy to increase our online presence, we are in the process of considering a Learning Management System, which will add synchronous and asynchronous courses, as well as videos and other media, to the established education programme. The intention is that it should reach a younger audience and introduce them to the Integral Wisdom. Over the duration of the lockdown, we have had time to consider content and online systems which would be most appropriate for our purposes.
As we have been unable to use the Retreat House for nearly two years, the cost of running and maintaining Fintry without the usual income stream has been uppermost in our minds. One option we are pursuing is the possible sale of some of the Trust’s property on Sandhills Road as a potential site for rental or freehold property. A firm of architects specializing in planning and development has been consulted and we are now in the process of considering a feasibility study carried out on the house and grounds, which may prove helpful in this regard.
We have had the benefit of residents in the main house for many years. They have made an invaluable contribution to the Trust and to the life of the Retreat House in many ways, for which we are deeply grateful. We will miss them as they move on. The Lodge, Cottage and Flat are occupied, but there are currently no plans for permanent residential positions in the house.
Finally, but most importantly, we would like to thank the staff for their patience and loyalty during these challenging times. They are central to all the operations of the Trust and we look forward to welcoming them back and working with them again as the restrictions lift.
Annual Education Report – April 2020 to March 2021
Education
Apart from one Silence & Well-Being Day, Fintry remained closed throughout the year, with all but the grounds staff partially or fully furloughed. There were no group bookings. The education programme normally based at Fintry developed an immediate online presence with the aim of seeing the Trust through the period of lockdown, providing a public benefit service to supporters isolated as a result of the crisis, extending the number and range of contacts across the world, and replacing lost income from bookings and events.
The new website came into its own just as it was needed in order to process enrolments efficiently, and extra newsletter mailings were sent out to a growing number of subscribers. Existing ‘free’ website resources were extended, and some ‘monetised’ content added.
This programme was developed in discussion with a dedicated team of volunteers meeting online, and the cohort of new and experienced tutors and presenters was significantly widened over this period, with support given where needed with defining course content, materials formatting and delivery. Work on the ‘Engaged Wisdom’ programme and the new Learning Management System is ongoing.
Page 3
The Fintry Trust
Report of the Directors and Trustees
for the Year Ended 31 March 2021
Annual Education Report – April 2020 to March 2021 (continued)
Education (continued)
Despite events, the Trust has undoubtedly benefitted from finding itself in a shared global situation, which its supporters understand and can respond to. It has drawn on an enormous amount of goodwill and has upheld its reputation for offering a balanced, integral wisdom, and overall professionalism in all its public activities.
Turning to Fintry itself, any unnecessary expenditure was avoided. Nevertheless, the gardens looked as beautiful and as well-tended as ever, the house was properly and safely maintained and aesthetic improvements introduced. Relations both with staff and with tenants remained as loving and mutually supportive as ever, creating a happy local community worthy of the larger worldwide community that the Trust now comprises.
Library
The Library remained closed, but two new online exhibitions were created featuring the Library’s collection of Nicholas Culpeper’s works, and those of the Cambridge Platonists.
Publicity and online resources
Over 450 Shrine of Wisdom publications were sold, an increase of around 15% on last year, even allowing for there being none of the usual regular sales at Fintry. Online courses generated extra interest in such as The Mystical Theology of Dionysius the Areopagite , The Golden Verses of the Pythagoreans and The Divine Pymander of Hermes Trismegistus. Over 50 Shrine of Wisdom magazines were also sold. Thanks are due to staff who assist with sales from Fintry and to the valuable contribution made by our North American distributor.
.
Patricia Jeanrenaud Chairman of the Trust
Page 4
The Fintry Trust
Report of the Directors and Trustees for the Year Ended 31 March 2021
FINANCIAL REVIEW
Financial Review
During the year 2020-21 income increased from £153,606 in 2019-20 to £186,111 in 2020-21 largely as a result an increase in donations and the money received from the Government’s job retention scheme which more than offset a reduction in income from investments and activities.
Expenditure before movements on investments decreased from £241,389 to £210,254. The decrease in expenditure is primarily as of result reduced costs involved in the closure of Fintry during the year, caused by the pandemic.
The biggest factor in the surplus of £145,160 (2020: deficit of £305,731) for the year is the unrealised gain on investments of £143,705 (2020: unrealised loss of £222,400). This was a result of the recovery seen in the stock markets since March 2020.
At the time of writing Fintry remains closed to visitors, as it has been since the end of March 2020, and it is not clear when it will be re-opened. The Trust has responded by moving many events on-line and views this as a continuing development, even when the lockdown has been lifted. Expenditure has been reviewed and minimised since the Trustees do not want to have to sell investments which provide a material income stream each year. In common with many other businesses the Trust will be reviewing its strategy and taking the steps necessary to protect its resources in pursuit of its objectives.
Reserves policy
The Trust aims to maintain liquid reserves of at least 3 months expenditure which is estimated to be £50,000 on average. On 31 March 2021 net current assets were £91,999 (2020: £61,542). These represent free reserves since the Trust has no long-term liabilities.
The Trustees keep the reserves policy under review and this may be revised in the light of the strategy refresh currently being undertaken which will be discussed at the AGM.
ON BEHALF OF THE BOARD :
Mrs P Jeanrenaud – Chairman of the Fintry Trust
Date: 17 August 2021
Page 5
Independent Examiner's Report to the Directors and Trustees of The Fintry Trust
I report on the accounts of the charity for the year ended 31 March 2021 which are set out on pages 8 to 16.
Respective responsibilities of directors and examiner
The charity’s directors are responsible for the preparation of the accounts. The charity’s directors consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
Other matters
Your attention is drawn to the fact that the charity has prepared the accounts (financial statements) in accordance with 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 (FRS102) 2[nd] edition issued in October 2019 in preference to the Accounting and Reporting Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn.
We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
-
1 which gives me reasonable cause to believe that, in any material respect, the requirements:
-
to keep accounting records in accordance with section 130 of the 2011 Act; and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
Page 6
Independent Examiner's Report to the Directors and Trustees of The Fintry Trust
Independent examiner's statement (continued)
- 2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
M S Leigh FCA CA Azets Audit Services Limited Chartered Accountants Ashcombe Court Woolsack Way Godalming Surrey GU7 1LQ
Date: 19 August 2021
Page 7
The Fintry Trust
Statement of Financial Activities
for the Year Ended 31 March 2021
| Notes INCOMING RESOURCES Incoming resources from generated funds Donations and legacies 2 Other trading activities 3 Investment income 4 Incoming resources from charitable activities Teaching of ideal philosophy, science art and religion Shrine of Wisdom publications Other Total incoming resources RESOURCES EXPENDED Costs of raising funds 5 Charitable activities Teaching of ideal philosophy, science art and religion Shrine of Wisdom publications Support costs Other resources expended Total resources expended NET EXPENDITURE Net gains and (losses) on investments Realised gains/(loss) on fixed asset investments Unrealised gains/(loss) on fixed asset investments Total recognised gains/(loss) Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2021 Unrestricted funds £ 59,515 57,073 26,872 24,196 1,937 16,518 186,111 5,165 192,184 4,307 8,250 348 210,254 (24,143) 25,598 143,705 169,303 145,160 1,229,867 |
2020 Unrestricted funds £ 24,582 55,102 35,846 34,368 1,502 2,206 153,606 5,774 227,359 139 7,693 424 241,389 (87,783) 4,452 (222,400) (217,948) (305,731) 1,535,598 1,229,867 |
|---|---|---|
| 1,375,027 |
Page 8
The Fintry Trust
Balance Sheet
At 31 March 2021
Notes FIXED ASSETS Tangible assets 9 Investments 10 CURRENT ASSETS Debtors 11 Cash at bank and in hand CREDITORS Amounts falling due within one year 12 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES PROVISIONS FOR LIABILITIES NET ASSETS 13 FUNDS 14 Unrestricted funds TOTAL FUNDS |
2021 Unrestricted funds £ 446,309 836,719 1,283,028 23,549 74,964 98,513 (6,514) 91,999 1,375,027 - 1,375,027 1,375,027 1,375,027 |
2020 Unrestricted funds £ 495,686 672,639 1,168,325 16,208 53,235 69,443 (7,901) 61,542 1,229,867 - 1,229,867 1,229,867 1,229,867 |
|---|---|---|
The financial statements were approved by the Board of Trustees on 17 August 2021 and were signed on its behalf by:
Mrs P Jeanrenaud -Trustee
Page 9
The Fintry Trust
Notes to the Financial Statements
for the Year Ended 31 March 2021
1. ACCOUNTING POLICIES
Accounting convention
The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) 2[nd] edition issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.
The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) 2[nd] edition issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Going concern
We have paid particular attention to the likely effects on the charity of the current Covid-19 outbreak and the trustees remain confident that sufficient funding, and reserves, are in place and that the charity has adequate resources to enable it to continue as a going concern for the foreseeable future.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Legacies are accounted for when received.
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
Investment income
This is included in the accounts when receivable.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Support costs
These include the costs of preparation and examination of the statutory accounts, the costs of Trustees meetings, the costs of insurance and the cost of any legal advice to Trustees on governance or constitutional matters.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
| Freehold property improvements | - 10% straight line | (previously - 15% on reducing balance) |
|---|---|---|
| Furniture, fittings and equipment | - 10%/20% straight line (previously - 15% on reducing balance) | |
| Plant and machinery | - 10% straight line | (previously - 20% on reducing balance) |
| Tractor | - 10% straight line | |
| Computer and website | - 33% straight line |
Page 10
The Fintry Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
1. ACCOUNTING POLICIES continued
Tangible fixed assets (continued)
These are capitalised if they can be used for more than one year. They are valued at cost or a reasonable value on receipt. Minor additions, defined as those costing less than £500, are usually expensed in the year they are bought.
All assets are depreciated using straight line policy.
The library, which has been built up over many years, is carried at its insurance value. This is reviewed every few years.
The freehold property is not depreciated because the market value is considered to be significantly higher than the cost shown in the accounts.
Stocks
Stock consists of goods for resale. Stocks are valued at the lower of cost and net realisable value.
Cash at Bank
This includes the legacy accounts in the name of the old Trust since the CIO has sole control over the use of these accounts.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Investments
All investments are quoted on a recognised stock exchange and are shown at market value at the 5 April. Any material difference between the valuation at 31 March and 5 April is disclosed in the investment note. Any realised and unrealised gains and losses are reflected on the face of the Statement of Financial Activities.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate, and receivable or payable within one year, are recorded at transaction price.
2. DONATION AND LEGACIES
| Donations and gift aid Legacies |
2021 £ 59,515 - 59,515 |
2020 £ 24,582 - |
|---|---|---|
| 24,582 |
Page 11
The Fintry Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
3. OTHER TRADING ACTIVITIES
| Rent received 4. INVESTMENT INCOME Investment income Deposit account interest 5. COST OF RAISING FUNDS Portfolio investment management fees 6. SUPPORT COSTS Independent examiner’s fee Book-keeping Bad Debts |
2021 £ 57,073 2021 £ 26,862 10 26,872 2021 £ 5,165 2021 £ 2,796 5,454 - 8,250 |
2020 £ 55,102 |
|---|---|---|
| 2020 £ 35,817 29 35,846 2020 £ 5,774 |
||
| 2020 £ 3,236 4,107 350 |
||
| 7,693 |
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration, expenses or other benefits for the year ended 31 March 2020 nor for the year ended 31 March 2021.
8. STAFF COSTS
| Wages and salaries Expenses reimbursed |
2021 £ 80,350 19 80,369 |
2020 £ 93,988 120 |
|---|---|---|
| 94,108 |
The average monthly number of employees during the year was 6, all part-time (2020: 8).
There were no highly paid employees during this year or the previous year.
Page 12
The Fintry Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
9. TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | ||||
|---|---|---|---|---|
| COST At 1 April 2020 Additions At 31 March 2021 DEPRECIATION At 1 April 2020 Charge for year At 31 March 2021 NET BOOK VALUE At 31 March 2021 At 31 March 2020 |
Freehold property £ 608,667 - 608,667 286,426 44,058 330,484 278,183 322,241 |
Library Furniture, fittings and equipment £ £ 150,000 141,491 - - 150,000 141,491 - 123,133 4,229 - 127,362 150,000 14,129 150,000 18,358 |
Tractor £ 10,900 - 10,900 5,813 1,090 6,903 3,997 5,087 |
Totals £ 911,058 - |
| 911,058 415,372 49,377 |
||||
| 464,749 | ||||
| 446,309 | ||||
| 495,686 |
The library was valued by Bloomsbury Book Auctions on 15 March 1999 at £150,000. This figure is not depreciated. Freehold property of £47,000 is not depreciated, but improvements are.
Page 13
The Fintry Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
10. FIXED ASSET INVESTMENTS
| Listed investments Cash and settlements pending £ £ MARKET VALUE At 1 April 2020 645,478 27,161 Acquisition at cost 238,032 - Disposals at opening book value (191,763) (25,893) Net gains/(losses) on revaluations at year end 143,704 - At 31 March 2021 835,451 1,268 NET BOOK VALUE At 31 March 2021 835,451 1,268 At 31 March 2020 645,478 27,161 2021 £ Historical cost 773,489 All investment assets are listed in the UK. Total Funds 2021 £ Listed investments UK quoted fixed interest 91,907 UK quoted shares 417,172 Non UK quoted shares 362,372 835,451 UK cash held as part of portfolio 1,268 Market value at 31 March 2021 836,719 |
Totals £ 672,639 238,032 (217,656) 143,704 836,719 836,719 672,639 2020 £ 782,684 Total Funds 2020 £ 90,731 342,565 212,182 |
Totals £ 672,639 238,032 (217,656) 143,704 836,719 836,719 672,639 2020 £ 782,684 |
|
|---|---|---|---|
| 645,478 27,161 |
|||
| 672,639 |
The following investments are over 5% of the market value at March 2020. There were no investments over 5% at March 2021.
2021 2020 M&G Securities Limited Global Floating Rate High Yield E - 6.03%
Page 14
The Fintry Trust
Notes to the Financial Statements – continued for the Year Ended 31 March 2021
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Income tax recoverable Prepayments and other debtors |
2021 £ 1,854 9,657 12,038 23,549 |
2021 £ 5,036 3,790 7,382 |
|---|---|---|
| 16,208 |
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Social security and other taxes Accruals and deferred income Other creditors |
2021 £ 93 - 6,421 - 6,514 |
2021 £ 825 - 6,961 115 |
|---|---|---|
| 7,901 |
13. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| 2021 | 2020 | |
|---|---|---|
| Total | Total | |
| Unrestricted | Unrestricted | |
| Funds | Funds | |
| £ | £ | |
| Fixed assets | 446,309 | 495,686 |
| Investments | 836,719 | 672,639 |
| Current Assets | 98,513 | 69,443 |
| Current liabilities | (6,514) | (7,901) |
| 1,375,027 | 1,229,687 |
14. MOVEMENT IN FUNDS
| Unrestricted funds General fund Designated – Cloister Garden TOTAL FUNDS |
At 1.4.2020 Net movement in funds £ £ 1,229,687 145,160 - 1,229,867 145,160 1,229,867 145,160 |
Transfers between funds At 31.3.2021 £ £ - 1,375,027 - - 1,375,027 - 1,375,027 |
Transfers between funds At 31.3.2021 £ £ - 1,375,027 - - 1,375,027 - 1,375,027 |
|---|---|---|---|
| 1,375,027 | |||
| 1,375,027 |
Page 15
The Fintry Trust
Notes to the Financial Statements – continued for the Year Ended 31 March 2021
14. MOVEMENT IN FUNDS – PRIOR YEAR
| Unrestricted funds General fund Designated – Cloister Garden TOTAL FUNDS |
At 1.4.2019 Net movement in funds £ £ 1,533,383 (303,516) 2,215 (2,215) 1,533,598 (305,731) 1,535,598 (305,731) |
Transfers between funds At 31.3.2020 £ £ - 1,229,867 - - - 1,229,867 - 1,229,867 |
|---|---|---|
Purpose of Unrestricted Funds
General Fund
The general fund is used for the day to day running of the charity.
Cloister Garden
This has now all been spent.
15. RELATED PARTY TRANSACTIONS
There were no transactions with related parties for the year ended 31 March 2021 nor for the year ended 31 March 2020.
16. ULTIMATE CONTROLLING PARTY
The Board of Trustees are considered to be the ultimate controlling party.
Page 16
The Fintry Trust
Detailed Statement of Financial Activities
for the Year Ended 31 March 2021
| INCOMING RESOURCES Donations and legacies Donations Gift aid tax recovered Other trading activities Rent received Investment income Investment income UK listed Deposit account interest Incoming resources from charitable activities Retreats Day events/On-line events Shrine of Wisdom Other Income Total incoming resources RESOURCES EXPENDED Costs of raising funds Portfolio management Charitable activities Wages Rates and water Insurance Light and heat Telephone Printing, stationery and other costs House keeping Repairs and maintenance Garden and grounds On-line course/Study day expenses Office equipment costs Library and website costs Depreciation - Freehold property Depreciation - Fixtures and fittings, equipment |
2021 £ 53,648 5,867 59,515 57,073 26,862 10 26,872 - 24,196 1,937 16,518 42,651 186,111 5,165 80,350 2,973 8,411 11,738 3.343 374 270 18,665 6,050 4,384 2,801 3,447 44,058 5,320 |
2020 £ 20,732 3,850 |
|---|---|---|
| 24,582 55,102 35,817 29 |
||
| 35,846 28,516 5,852 1,502 2,206 |
||
| 38,076 | ||
| 153,606 | ||
| 5,774 94,108 880 6,434 10,570 3,114 2,523 9,106 17,965 6,921 6,990 486 1,077 49,800 17,385 |
||
| 192,184 | 227,359 |
This page does not form part of the statutory financial statements
Page 17
The Fintry Trust
Detailed Statement of Financial Activities
for the Year Ended 31 March 2021
| Support costs Independent examiners' fee Accountancy and Book-keeping Bad debts Other resources expended Other costs Shrine of Wisdom Publications Total resources expended Net surplus/(deficit) before investment gains and losses Recognised gains and losses Realised gains/(losses)on fixed asset investments Net (expenditure)/income |
2021 £ 2,796 5,454 - 8,250 348 4,307 210,254 (24,143) 25,598 1,455 |
2020 £ - 3,236 4,107 350 |
|---|---|---|
| 7,693 424 139 |
||
| 241,389 | ||
| (87,783) 4,452 |
||
| (83,331) |
This page does not form part of the statutory financial statements
Page 18