2020-12-31-accounts - The Ulysses Trust

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Report of the	Trustees			1	to	4
Independent	Examiner's	Report
Statement of	Financial	Activities
Balance Sheet
Notes to the Financial Statements				8	to	15
Detailed Statement of Financial			Activities		16

for the year ended 31	December	2020
						2020	2019
				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
			Notes	E	E	E	E
INCOME AND ENDOWMENTS		FROM
Donations and legacies			2	40,838	110,664	151,502	249,459
Investment income			3	10895	9,580	20 475	25 482
Total				51,733	120,244	171,977	274,941
EXPENDITURE ON
Raising funds				123,012		123,012	91,354
Charitable activities
Charitable activities				7,370	(5,656)	1,714	244,570
Total				130,382	(5,656)	124,726	335,924
Net gains on investments				14533	12 894	27 427	70 004
NET INCOME/(EXPENDITURE)				(64,116)	138,794	74,678	9,021
Transfers between	funds		13	25 585	~25,585)
Net movement in funds				(38,531)	113,209	74,678	9,021
RECONCILIATION OF FUNDS
Total funds brought	forward			356,272	267,955	624,227	615,206
TOTAL FUNDS CARRIED FORWARD				317,741	381 164	698,905	624,227

						2020	2019
				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
			Notes	E	f		E
FXXEDASSETS
Investments			9	316,537	280,849	597,386	569,959
CURRENT ASSETS
Debtors			10	2,724	5,345	8,069	36,941
Cash at bank and		in hand	11		129,640	129640	72 402
				2,724	134,985	137,709	109,343
CREDITGRS
Amounts falling	due within one year		12	(1,520)	(34,670)	(36,190)	(55,075)
NET CURRENT	ASSETS			1,204	100,315	101,519	54,268
TOTAL ASSETS		LESSCURRENT LIABILITIES		317,741	381,164	698,905	624,227
				317741	381164	698905	624 227
FUNDS			13
Unrestricted funds						317,741	356,272
Restricted funds						381,164	267 955
TOTAL FUNDS						698905	624 227

						2020	2019
						f	f
Funding received from		other charitable		trusts:
Nuffield Trust for Forces			of the Crown			77,714	114,787
Army Sports Control	Board Charity					30,000	30,000
RAF Charitable Trust Reserve Forces' and	Cadets' Associations				(Wessex, Lowland 5 London)	2,950 7,000	32,267 11,000
Cadogan Charities							10,000
Samarez Investments/Sir			James Knott	Trust		7,000	7,000
Anton Jurgen Charitable			Trust				7,000
The Lord Farringdon	Trust					5,000	5,000
Clive and Sylvia Richards			Charity			5,000	5,000
Dyers Company							4,000
Tobacco and Pipe Makers			Benevolent	Fund			3,000
Armourers and Braziers		Company				2,000	2,000
Other amounts received:
Total donations received			from private	benefactors		13,538	15,002
Top Interim. corn Ltd							500
Gift aid						1 300	2 504
						151,502	249,459
INVESTMENT INCOME
						2020	2019
						E	E
Bank deposit interest	-	Cadet Fund (allocated)					77
Bank deposit interest	-	General Fund (allocated)				86	192
Dividends —BLKArmed		Forces Charities			Growth 5 Income Units	20,389	23,084
Realised gain on Unit	Trust units sold						2,129
						~20 475	~25 482
RAISING FUNDS
Raising donations	and		legacies
						2020	2019
						E	E.
Staff costs						41,986	85,291
Other fundraising costs						3,267	6,063
Consultancy						77 759
						123,012	91 354

Charitable activities co	sts comp	ri	se:
							2020	2019
							f	f
Restricted expenditure:
Grants paid and payable (net of			repayments):
Reservists:
Defence Technical Undergraduate			Scheme					269
University Units (OTCs,	URNUs,		UA Squadrons)				4,290	38,346
Operational Unit (Reservists)							26,430	76,172
Cadets:
Sea Cadet Corps 86 Royal Marine			Cadets					26,632
Combined Cadet Force	(Navy)						1,600	3,045
Combined Cadet Force	(Army)						4,150	16,954
Combined Cadet Force	(Air)						750	3,825
Army Cadet Force								39,427
Air Training Corps							2,200	29,474
Total grants							39,420	234,144
Less: refunds received	in respect		of prior year	grants:
Reservists Cadets							(22,676) ~22 400)
Total restricted - net (gain)/outlay			on grant making				~5,656)	234 144
Unrestricted expenditure:
Administrative expenditure:
Cost of meetings							1,176	925
Office costs							1,065	1,216
IT and sundry expenses							2,105	5,328
Governance:
Trustees' expenses							24	1,157
Independent examiner's	fees						3,000	1,800
Total unrestricted							7 370	10,426
Total charitable expenditure							1,714	244 570
The net total of grants made above includes;
Grants made Grants underspent/expeditions		cancelled/grants		returned,	including	prior years	120,631 ~126,267)	250,'}90 ~16,346)
Net (gain)/outlay on grant making							~5656)	234, 144

STAFF COSTS
							2020	2019
								f
Wages and salaries							38,035	76,500
Social security costs							2,576	5,191
Other pension costs							1,375	~3600
							41,986	85,291
The average monthly	number		of	employees		during the year was as follows:
							2020	2019
Fund raising							1	2
No employees received		emoluments			in excess off60,000.
The average number	of	Full Time		Equivalent		staff was 1.2 (2019:1.64).
COMPARATIVES FOR		THE STATEMENT				OF FINANCIAL ACTIVITIES
						Unrestricted	Restricted	Total
						funds	funds	funds
						E	E	E
INCOME AND ENDOWMENTS				FROM
Donations and legacies						69,405	180,054	249,459
Investment income						14,844	10,638	25,482
Total						84,249	190,692	274,941
EXPENDITURE ON
Raising funds						91,354		91,354
Charitable activities
Charitable activities						35,263	209,307	244,570
Total						126,617	209,307	335,924
Net gains on investments						37 093	32911	70,004
NET INCOME/(EXPENDITURE)						(5,275)	14,296	9,021
RECONCILIATION	OF	FUNDS
Total funds brought	forward					361,547	253,659	615,206
TOTAL FUNDS CARRIED FORWARD						356 272	267 955	624 227

											Listed
											investments
											E
	MARKET VALUE
	At 1january	2020									569,959
	Revaluations										27,427
	At 31 December		2020								597386
	NET BOOK	VALUE
	At 31 December		2020								597,386
	At 31 December		2019								569,959
	There were no investment				assets outside the	UK.
	Investments	at the end		of the year are attributable			as follows:
	Future Development Fund				(Designated)					316,537
	Army Cadet Long-Term			Fund (Restricted)						280,849
	Total									597	386
10.	DEBTORS: AMOUNTS			FALLING DUE WITHIN			ONE YEAR
									2020		2019
									E		f
	Other debtors								2,975		31,847
	Prepayments	and	accrued		income				5,094		5,094
									8,069		36,941
	Debtors at the end of the year are attributable					as	follows:
										f
	General (unrestricted)									2,724
	Restricted:
	Cadets									5 345
	Total									8 069
11.	CASH AT BANK		AND IN		HAND
	Cash at bank	and	in hand	at the end of the year is			attributable	as follows:
	Restricted:
	Cadets									34,000
	Nuffield Trust									95,640
	Total									129640

CREDI	TORS: AMOUNTS FALLING DUE WI	THIN ONE YEAR
			2020	2019
			E	E
Other creditors			~36 190	~55 075
Creditors	at the end ofthe year are attributable	as follows:
General	(unrestricted)			1 520
Restricted:
Cadets				8,700
Nuffield	Trust			25,970
				34,670
Total				36 190

MOVEMENT	IN FU	ND	S
					Net	Transfers
					movement	between	At
				At 1.1.20	in funds	funds	31.12.20
				)r	E	E	E
Unrestricted	funds
General Reserve Fund				54,268	(89,459)	36,395	1,204
Future Development		Fund		302 004	25,343	~10810)	316537
				356,272	(64,116)	25,585	317,741
Restricted funds
Army Cadet Long-Term			Fund	267,955	18,323	(5,429)	280,849
Cadet Reserve	Fund				50,801	(20,156)	30,645
Nuffield Trust	for Armed		Forces ofthe
Crown					69 670		69 670
				267,955	138,794	~25,585)	381,164
TOTAL FUNDS				624 227	74 678		698 905
Net movement	in funds,		included in the above are as follows:
				Incoming	Resources	Gains and	Movement
				resources	expended	losses	in funds
				E	E	f	E
Unrestricted	funds
General Reserve Fund				40,923	(130,382)		(89,459)
Future Development		Fund		1D 81D		14533	25 343
Restricted funds				51,733	(130,382)	14,533	(64,116)
Army Cadet Long-Term			Fund	9,579	(4,150)	12,894	18,323
Cadet Reserve	Fund			30,001	20,800		50,801
Nuffield Trust	for Armed		Forces of the
Crown Air Cadet Fund				77,714 2 95D	(8,044) ~2,950)		69,670
				120 244	5,656	12 894	138794
TOTAL FUNDS				171977	~124,726)	27,427	74 678

					Net
					movement	At
				At 1.1.19	in funds	31.12.19
				E	E	f
Unrestricted funds
General	Reserve Fund			78,764	(24,496)	54,268
Future	Development	Fund		282,783	19,221	302 004
Restricted funds				361,547	(5,275)	356,272
Army Cadet Long-Term			Fund	235,044	32,911	267,955
Cadet Reserve Fund				18,615	~10,615)
				253 659	14296	267 955
TOTAL	FUNDS			615,206	9 021	624 227

				Incoming	Resources	Gains and	Movement
				resources	expended	losses	in funds
				f	E	E	E
Unrestricted	funds
General Reserve Fund				69,597	(94,093)		(24,496)
Future Development		Fund		14652	~32 524)	37093	19221
Restricted funds				84,249	(126,617)	37,093	(5,275)
Army Cadet Long-Term			Fund	10,561	(10,561)	32,911	32,911
Cadet Reserve	Fund			33,077	(51,692)		(18,615)
Nuffield Trust	for Armed		Forces of the
Crown				114,787	(114,787)
Air Cadet Fund				32 267	~32,267)
				190 692	(209 307)	32911	14 296
TOTAL FUNDS				274,941	(335,924)	70,004	9,021

							2020	2019
							E	f
INCOME AND ENDOWMENTS
Donations and legacies
Donations							150,202	246,955
Gift aid							1300	2,504
							151,502	249,459
Investment income
Bank deposit interest	- Cadet Fund (allocated)							77
Hank deposit interest	- General			Fund (allocated)			86	192
Dividends —BLKArmed Forces			Charities		Growth	S.
Income Units							20,389	23,084
Realised gain on Unit	Trust units			sold				2,129
							20 475	25 482
Total incoming resources							171,977	274,941
EXPENDITURE
Raising donations	and legacies
Wages							38,035	76,500
Social security							2,576	5,191
Pensions							1,375	3,600
Other fundraising costs							3,267	6,063
Consultancy							77,759
							123,012	91,354
Charitable activities
Costs of meetings							1,176	925
Office costs							1,065	1,216
IT and sundry expenses							2,105	5,328
Grants made							120,631	250,490
Grants underspent/expeditions			cancelled				6126,287)	~16,346)
Support costs							(1,310)	241,613
Governance costs
Trustees' expenses							24	1,157
Accountancy and legal fees							3,000	1,800
							3,024	2,957
Total resources expended							124726	335 824
Net income/(expenditure) before gains and
losses							47,251	(60,983)
Unrealised recognised		gains	and losses
Unrealised gains/(losses)		on fixed asset
investments							27 427	70 004
Net income							74,678	9,021