The Anchor Society CIO
Trustees’ report and unaudited financial statements for the year ended 31 December 2021
Charity registration number 1167933
The Anchor Society CIO Trustees’ report and financial statements 31 December 2021
Contents
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Statement of Trustees’ responsibilities | 5 |
| Report of the Independent Examiner | 6 |
| Statement of financial activities | 7 |
| Balance Sheet | 8 |
| Notes | 9 |
The Anchor Society CIO Trustees’ report and financial statements 31 December 2021
Trustees’ Report
The Trustees present their report and the financial statements of the charity for the year ended 31 December 2021. The Anchor Society CIO (‘The Society’) is a Charitable Incorporated Organisation and was registered with the Charity Commission on 29[th] June 2016.
The trustees have adopted the provisions of 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).
Reference and administrative details
The Anchor Society CIO is registered with the Charity Commission, number 1167933.
| Registered address | Bennetts Solicitors |
|---|---|
| Barley Wood Stables, | |
| Long Lane | |
| Wrington | |
| Bristol BS40 5SA | |
| Office address | 29 Alma Vale Road |
| Clifton | |
| Bristol BS8 2HL | |
| Independent examiner | Lawes & Co UK Limited |
| Boyce’s Building | |
| 40-42 Regent Street | |
| Clifton | |
| Bristol BS8 4HU | |
| Solicitors | Bennetts Solicitors |
| Barley Wood Stables, | |
| Long Lane | |
| Wrington | |
| Bristol BS40 5SA | |
| Bankers | HSBC UK Bank Plc |
| 62 George White Street | |
| Cabot Circus | |
| Bristol BS1 3BA | |
| Investment advisers | Brewin Dolphin Ltd |
| 40 Queen Square | |
| Bristol BS1 4QP | |
| Smith & Williamson Investment Management LLP | |
| Portwall House | |
| Portwall Lane | |
| Bristol BS1 6NA | |
| Chief Executive | RN Pendlebury |
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The Anchor Society CIO Trustees’ report and financial statements 31 December 2021
Trustees’ Report (continued)
Trustees
The following served as Trustees during the year:
FGD Montagu President 2019-20 (resigned 15 November 2021) WJ Marshall President 2020-21 JJ Lacey President 2021-22 JC Oakland President 2022-23 (appointed 16 November 2021) HL Wallington Hon Secretary RE Evans Hon Treasurer RH Jarratt WHR Durie RP Kennedy HLM Bothamley BJ Hanson (appointed 16 November 2021)
Structure and Governance
The charity is controlled by its governing document, the Constitution, and is managed by the Trustees, who comprise the Honorary Secretary and Honorary Treasurer, the current President of the Society, the immediate past President and the President designate, together with additional trustees. The Trustees are empowered by its constitution to appoint additional trustees.
Training is assured by the succession process involved in the President's appointment. All Executive members, whether Trustees or Secondees, are appointed from the Society's membership and are assessed by the Executive as having the required skills and experience to fulfil their responsibilities. The Chief Executive holds a manual of procedure of the Society which is available to all Trustees. Decisions are made by the Trustees who meet on a quarterly basis.
Objectives and activities for the public benefit
The Anchor Society was formed as an unincorporated charity in 1769 and was registered with the Charity Commission (No 208756). The Anchor Society CIO (The Society) was entered on the Register of Charities on 29[th] June 2016 (No 1167933). On 31 December 2016, The Anchor Society CIO acquired the assets and liabilities of The Anchor Society.
The Society assists older people (over 55) in need within Bristol and the surrounding area in a number of ways. It provides financial assistance through the payment of regular and single payment grants to assist with urgent personal needs. The Society often also makes one-off payments in the winter months to assist with heating expenses. The Society also operates a befriending service that is provided by volunteers. Grant applications are considered by a committee of Trustees and are made on their merit.
The Society is involved in the development of sheltered housing and day care provision for older people in the city. New Anchor House in Knowle provides 21 flats and was developed by the Society in conjunction with the Guinness Trust who manages the property. The freehold reversion remains with the Society and the Guinness Trust have a long lease. The Society was also involved with Guinness in the development of Southlands residential care home in Knowle and Lincolns Gardens in Redfield. Both properties are owned and managed by the Guinness Trust, and the construction of the Day Care Centres at both Southlands and Lincolns Gardens was financed by long-term loans from the Society.
The development of affordable housing at Coopers Close in Lawrence Weston was completed in 2013. It is a development of eight chalet bungalows providing sheltered accommodation for the elderly on a long-leasehold tenure; the bungalows are owned either outright or on a shared-equity basis with the Society. The development is adjacent to Blaise Weston House, a residential care home operated by Hanover.
The charity’s trustees have complied with the duty in section 17(5) of the 2011 Charities Act to have due regard to guidance published by the Charity Commission on public benefit.
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The Anchor Society CIO Trustees’ report and financial statements 31 December 2021
Trustees’ Report (continued)
Review of developments, activities and achievements
The principal fundraising event in the year is the President’s collection, which in 2021 raised over £100,000. This is directed towards the Society's traditional activity which is to support older people in need, either by way of regular annuities or specific, small grants towards urgently needed improvements or repairs to their homes.
The Society is exploring the use of technology in supporting independent living for older people and the provision of improvement loans to enable them to remain in their own homes.
Key strands of the Society’s strategy are to:
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§ continue to provide grants to older people in need in the Bristol region to enable them to continue to live independently,
-
§ invest in strategic technological and social projects which tackle the issues of ageing into the future. An example of this is our investment in the Assisted Living Studio within the Bristol Robotics Laboratory based at the University of the West of England,
-
§ with an increasing ageing population, the Society is looking into solutions which enable older people to be contributors to society,
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§ use our endowment to provide recyclable property loans to enable older people to remain in their homes living independently,
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§ to be involved in projects which create low cost older person friendly homes in line with previous Anchor housing developments,
-
§ to work in partnership with others to improve the lives of older people.
Grants to individuals
We are finding a higher demand for our grants for older people facing severe poverty. We are providing increasing numbers of people needing furniture, white goods and carpets, particularly when moving into sheltered accommodation. We work closely with our referrers to ensure those in real need are supported.
Technology
The Society invested in a lectureship in digital health for older people as part of the University of Bristol SPHERE project. Our funding of the project ended during the Covid 19 pandemic but the results of the project continue to give benefit. There are now a number of PhD students working on research in digital technology to provide benefit to those over 55, particularly those with long term health needs. The Anchor Society continues its relationship with Bristol University.
Anchor continues its interest in the work of the Bristol Robotics Laboratory (BRL) based at the University of the West of England through the Anchor Assisted Living Laboratory. Having recently completed a project involving digital devices and physical activity the Anchor Society will continue to work with BRL to pursue technological projects which benefit older people.
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The Anchor Society CIO Trustees’ report and financial statements 31 December 2021
Trustees’ Report (continued)
Ageing population
Our joint project with Business in the Community to enable over 55s to return to work came to an end during the year. We are pleased to report that that around half of those who attended this ground breaking course found employment, or improved their chances of employment by through volunteering with a view to paid work. The course was adapted during the Covid-19 pandemic by providing a 6 week course to boost the opportunities for the over 55s to gain employment.
Improving the lives of older people
We are pleased to be working with a number of different grant giving charities in Bristol through the Older People’s Funding Network. This group provides grants through its partnerships to support older people in the city. This year we gave grants in the sum of £11,700 to 2 organisations in the city, one an intergenerational project and the other support for a telephone counselling service following the impact of a stroke.
We have been encouraging older people to remain active by improving their health and wellbeing. In partnership with St Monica Trust, the Society has been funding a project to enable older people to participate in walking sports and other activities that build strength and resilience. Each partner contributed £20,000 a year for an initial 3 years then we agreed a further £25,000 for two years. A key activity has been the annual ‘Walkfest’ where thousands of local people were engaged in walking for health. The Anchor Society and St Monica Trust fund the project in partnership with and under the management of Age UK Bristol. A key outcome of the project has been to encourage sporting and other activity providers engage with older people.
As a founding partner we funded the charity LinkAge which provided user lead activities for older people. In 2020 we enabled the charity to be merged with Age UK Bristol and be managed by them. LinkAge has played a pivotal role in the provision of services to older people in need during the pandemic. LinkAge now heads up Age UK Bristol’s social activities and community services, including: Active Together, Friends Ageing Better, Computer Courses and Healthy Together.
Financial review
On 31[st] December 2021, the unrestricted reserves of the Society, which stand at £4,373,286, are mostly invested in long term, designated schemes (£3,381,650). Its general reserves amounted to £991,636. In addition, there were restricted funds of £61,469. The level of reserves held by the Society is reviewed at each meeting of the Trustees. They aim to ensure that there are sufficient reserves to meet any shortfall in future income, which due to its voluntary nature, is uncertain and to meet any unforeseen circumstances.
The Society’s principal funding sources are the President’s collection, which is held annually during November, and income from investments.
The investment advisers have been set an investment objective of RPI plus 3%, which for the year was 10.5%. During the year under review 10.6% was achieved. In view of the effects of Covid-19 on the markets, the trustees consider this a satisfactory result. The investment strategy is reviewed regularly, at least every three years.
The Society reviews the level of cash and investments held at each meeting of the Trustees to ensure there are sufficient liquid funds to meet its commitments over the coming 12 months.
It is planned to continue the existing policy of assisting those in need by the making of small grants.
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The Anchor Society CIO Trustees’ report and financial statements 31 December 2021
Trustees’ Report (continued)
Risk management
The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure proper controls are in place to provide reasonable assurance against fraud and error. Risks and their management are formally reviewed every year.
Statement of trustees’ responsibilities
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the Constitution requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that year. In preparing those financial statements, the trustees are required to:
-
§ select suitable accounting policies and then apply them consistently;
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§ observe the methods and principles in the Charity SORP;
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§ make judgements and estimates that are reasonable and prudent;
-
§ state whether applicable UK 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 business.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.
Approved by order of the Board of Trustees on 27th April 2022 and signed on its behalf by:
JJ Lacey President and Trustee
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The Anchor Society CIO Trustees’ report and financial statements 31 December 2021
Report of the independent examiner to the Trustees of The Anchor Society CIO
I report to the charity trustees on my examination of the accounts of The Anchor Society CIO (‘the Trust’) for the year ended 31 December 2021.
Respective responsibilities of trustees and examiner
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
Mr PA Freeman BA FCA FCCA for and on behalf of Lawes & Co UK Limited
Boyce’s Building 40-42 Regent Street Clifton Bristol BS8 4HU
Dated: 3[rd] May 2022
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The Anchor Society CIO Trustees’ report and financial statements 31 December 2021
Statement of financial activities
for the year ended 31 December 2021
(including income and expenditure account)
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Restricted | Unrestricted | Total | Total | ||
| Funds | Funds | ||||
| Note | £ | £ | £ | £ | |
| Income from: | |||||
| Donations and legacies | 2 | 45,000 | 84,032 | 129,032 | 113,966 |
| Other trading activities | 3 | - | 13,664 | 13,664 | 9,674 |
| Investments | 4 | - | 45,888 | 45,888 | 45,177 |
| 45,000 | 143,584 | 188,584 | 168,817 |
||
| Expenditure on: | |||||
| Charitable activities | 6 | 17,611 | 214,001 | 231,612 | 238,739 |
| Raising funds | 7 | - | 4,291 | 4,291 | 1,607 |
| 17,611 | 218,292 | 235,903 | 240,346 |
||
| Net income/(expenditure) | 27,389 | (74,708) | (47,319) | (71,529) | |
| Other recognised gains/losses: | |||||
| Gains/(losses) on investment assets: | |||||
| Listed investments | 12 | - | 174,394 | 174,394 | 12,336 |
| Unlisted investments | 12 | - | 68,811 | 68,811 | 10,800 |
| Transfer between funds | 15 | 5,000 | (5,000) | - | - |
| Net movement in funds | 32,389 | 163,497 | 195,886 | (48,393) | |
| Reconciliation of funds: | |||||
| Funds brought forward | 29,080 | 4,209,789 | 4,238,869 | 4,287,262 |
|
| Funds carried forward | 61,469 | 4,373,286 | 4,434,755 | 4,238,869 |
The results for the year derive from continuing activities and there are no gains or losses other than those shown above.
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The Anchor Society CIO Trustees’ report and financial statements 31 December 2021
Balance sheet at 31 December 2021
| Note Fixed assets Tangible assets 11 Investments 12 Current assets Debtors 13 Cash at bank and in hand Creditors Amounts falling due within one year 14 Net current assets Net assets Represented by: Restricted funds 15 Unrestricted funds 15 Designated Funds General Funds |
2021 2020 £ £ £ £ 1,151,328 1,151,328 3,105,323 2,895,994 4,256,651 4,047,322 10,630 12,026 175,778 187,537 186,408 199,563 (8,304) (8,016) 178,104 191,547 4,434,755 4,238,869 61,469 29,080 3,381,650 3,312,839 991,636 896,950 4,373,286 4,209,789 4,434,755 4,238,869 |
|---|---|
These financial statements were approved by the trustees on 27[th] April 2022 and signed on its behalf by:
JJ Lacey President and Trustee
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The Anchor Society CIO Trustees’ report and financial statements 31 December 2021
Notes
(forming part of the financial statements)
1 Accounting policies
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company’s financial statements.
Basis of preparation
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) “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)”, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
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. The following specific policies are applied to particular categories of income:
-
§ Donation income is credited in the period in which it is received, and no adjustments are made for arrears or advance receipts, except where covenanted donations are paid for several years in advance, in which case the balance relating to future periods is included in creditors.
-
§ Donated services and facilities and gifts in kind are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.
-
§ Rental income is included when receivable.
-
§ Investment income is included when receivable.
Expenditure
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. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:
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§ Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
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§ Governance costs include those costs associated with meeting constitutional and statutory requirements of the charity and include the audit fees and costs linked with the strategic management of the charity. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
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The Anchor Society CIO Trustees’ report and financial statements 31 December 2021
Notes (continued)
Allocation and apportionment of costs
All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly; others are apportioned.
Tangible fixed assets
Fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer Equipment: Straight line over 3 years.
Depreciation is not provided on freehold buildings as their estimated useful economic life exceeds 50 years, they are well maintained by a programme of continual repairs and improvements and their expected residual value exceeds cost. Having adopted this policy, the Society will carry out annual impairment reviews to ensure that any diminution in value is written off in the Statement of Financial Activities.
Assets with a value of less than £1,000 are not capitalised.
Listed investments
Listed and unlisted investments, and investment properties are included at market value at the balance sheet date.
Leased assets
Rentals in respect of operating leases are charged directly to the statement of financial activities in the period in which they fall due.
Taxation
The charity is exempt from tax on its charitable activities.
Revaluation gains
The revaluation gains shown in the Statement of Financial Activities include both realised and unrealised gains and losses.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. In addition to the elderly and needy of the Bristol area, such funds may be held in order to finance capital investment and working capital.
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.
Designated funds are those which the charity may, at its discretion, set aside for a specific purpose which would otherwise form part of the general reserves of the organisation.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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The Anchor Society CIO Trustees’ report and financial statements 31 December 2021
Notes (continued)
2 Donations and legacies
| Donations Restricted funds Unrestricted funds Other trading activities Anchor Dinner Rents Income from investments Listed investments Cash investment income |
2021 £ 45,000 84,032 129,032 2021 £ 3,990 9,674 13,664 2021 £ 45,698 190 45,888 |
2020 £ 10,997 102,969 113,966 2020 £ - 9,674 9,674 2020 £ 45,040 137 45,177 |
|---|---|---|
3 Other trading activities
4 Income from investments
5 Analysis of expenditure by activity
| Note Grants made to assist older people £ Support costs £ Grants to institutions 6 82,248 - Grants to individuals 6 57,986 - Expenditure on raising funds 7 - 4,291 Governance costs 8 - 91,378 140,234 95,669 |
Total £ 82,248 57,986 4,291 91,378 235,903 |
|---|---|
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The Anchor Society CIO Trustees’ report and financial statements 31 December 2021
Notes (continued)
6 Expenditure on charitable activities
| Grants to institutions: Age UK Bristol – Active Ageing Bristol Age UK Bristol – LinkAge Alive Activities Bristol After Stroke Bristol Music Trust Business in the Community Fareshare SW St Werburgh’s Community Association The Anchor Society Ltd – Intergenerational Project Trinity Community Arts University of Bristol Sphere Project Grants to individuals Governance costs 8 Expenditure on raising funds Investment property costs Anchor dinner costs |
2021 £ 25,000 40,000 10,500 1,200 - 3,000 - 500 1,550 498 - 82,248 57,986 91,378 231,612 2021 £ 317 3,975 4,291 |
2020 £ 16,667 45,000 - 1,174 5,000 12,000 6,087 - 2,200 4,478 14,000 106,606 41,606 90,527 238,739 2020 £ 1,607 - 1,607 |
|---|---|---|
7 Expenditure on raising funds
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The Anchor Society CIO Trustees’ report and financial statements 31 December 2021
Notes (continued)
8 Governance costs
| Note Staff costs 9 Premises Printing, postage and office expenses General insurances Independent examiner’s remuneration Legal and professional costs Other costs Staff costs Wages and salaries Social security costs Pensions costs Average monthly number of employees during the year |
2021 £ 52,664 9,073 5,513 1,619 2,280 19,942 287 91,378 2021 £ 50,876 458 1,330 52,664 2 |
2020 £ 52,626 9,073 5,133 1,576 2,280 19,002 837 90,527 2020 £ 49,384 1,941 1,301 52,626 2 |
|---|---|---|
9 Staff costs
No employee received emoluments totalling more than £60,000 during the year.
10 Trustees’ remuneration and benefits
There were no trustees’ remuneration or other benefits for the year ended 31 December 2021 (2020: £Nil) and no trustees’ expenses were paid for either year.
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The Anchor Society CIO Trustees’ report and financial statements 31 December 2021
Notes (continued)
| Notes(continued) | |
|---|---|
| 11 Tangible fixed assets Land and buildings Cost At 1 January and 31 December 2021 Depreciation Net book value at 31 December 2021 |
£ 1,151,328 - |
| 1,151,328 |
The net book value of land and buildings comprise:
| Freehold property New Anchor House, Wells Road, Knowle, Bristol Leasehold Property Shared ownership – Coopers Close |
£ 929,778 221,550 1,151,328 |
|---|---|
New Anchor House is managed by the Guinness Trust.
The leasehold property at Coopers Close represents sheltered accommodation for the elderly. The current market value is based on the disposal value of a unit which was sold in December 2017.
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The Anchor Society CIO Trustees’ report and financial statements 31 December 2021
Notes (continued)
12 Fixed asset investments
| Net Book value at 1 January 2021 Additions Disposals Revaluations Net book value at 31 December 2021 |
Land and buildings Listed investments Unlisted investments Total £ £ £ £ 170,000 1,814,483 911,511 2,895,994 - 213,186 - 213,186 - (247,062) - (247,062) - 174,394 68,811 243,205 170,000 1,955,001 980,322 3,105,323 |
|---|---|
Land and buildings
The net book value of land and buildings comprise:
| £ | |
|---|---|
| Freehold property | |
| Land and buildings at Home Farm, Yate | 170,000 |
Home Farm was previously valued by Morgan Beddoe in accordance with the provisions of the Royal Institution of Chartered Surveyors (RICS) Valuation Standards Manual in March 2011. The farmhouse at Home Farm was sold previously. The Trustees have reviewed the book value of the remaining land and buildings and consider the net book value reflects the current market value.
Listed investments
The book cost of investments is £1,510,376. There are no investment assets outside the UK.
Unlisted investments
These comprise two loans of £300,000 each made to The Guinness Trust for the purpose of providing very sheltered housing.
The loans are repayable in 80 years from payment in May 2084 and February 2087 respectively. They will be repayable earlier in the following circumstances:
-
i) where the borrower disposes of its freehold or leasehold interest or
-
ii) where the property ceases to be used for the agreed use.
The value of the loans has been adjusted in line with the retail price index to recognise the change in value during the year in accordance with the loan agreement. The revaluation is recognised in the Statement of Financial Activities.
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The Anchor Society CIO Trustees’ report and financial statements 31 December 2021
Notes (continued)
13 Debtors falling due within one year
| Prepayments Gift Aid tax repayment Sundry debtors 14 Creditors falling due within one year Taxation Accruals |
2021 £ 1,960 6,920 1,750 10,630 2021 £ 838 7,466 8,304 |
2020 £ 1,031 7,825 3,170 12,026 2020 £ 831 7,185 8,016 |
|---|---|---|
| 15 Movement in funds At 1 January 2021 Net movement in funds At 31 December 2021 |
Restricted Funds Designated Funds £ £ 29,080 3,312,839 32,389 68,811 61,469 3,381,650 |
General Funds £ 896,950 94,686 991,636 |
Total £ 4,238,869 195,886 4,434,755 |
|---|---|---|---|
Net movement in funds, included in the above are as follows:
| Income Expenditure Gains and losses Transfers Net movement in funds |
Restricted Funds Designated Funds £ £ 45,000 - (17,611) - - 68,811 5,000 - 32,389 68,811 |
General Funds £ 143,584 (218,292) 174,394 (5,000) 94,686 |
Total £ 188,584 (235,903) 243,205 - 195,886 |
|---|---|---|---|
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The Anchor Society CIO Trustees’ report and financial statements 31 December 2021
Notes (continued)
Designated funds are those which the charity may, at its discretion, set aside for a specific purpose which would otherwise form part of the general reserves of the organisation. Specifically, the charity sets aside funds which represent the investment made in freehold and leasehold property, fixed assets for use by the charity and long-term loans to other charities for the provision of services to older persons in Bristol and the surrounding area. In addition, specific substantial legacies are designated funds.
Restricted funds are donations that have been received by the Society for specific purposes:
| Brought | Income | Transfer | Expenditure | Carried | |
|---|---|---|---|---|---|
| forward | (see note) | forward | |||
| £ | £ | £ | £ | £ | |
| Sports projects | 498 | - | - | 498 | - |
| Intergenerational developments | 28,582 | - | - | 1,550 | 27,032 |
| Small grants | - | 25,000 | - | 4,317 | 20,683 |
| Boiler replacement | - |
20,000 |
5,000 | 11,246 |
13,754 |
| Total restricted funds | 29,080 |
45,000 |
5,000 | 17,611 |
61,469 |
The £5,000 transfer represents general funds that the trustees specifically designated for boiler replacements.
Restricted funds are held in a separate bank account.
16 Related party transactions
During the year, the following relevant transactions occurred:
- § a donation of £10,000 was received from The Anchor Society Limited and a grant of £1,550 was made to The Anchor Society Limited. WJ Marshall, WHR Durie, RE Evans, HL Wallington and BJ Hanson, trustees, are also trustees of The Anchor Society Limited.
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