REGISTERED CHARITY NUMBER: 1173240
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 5 November 2021
for
The Charity of Douglas William Mitchell (The Birdwood House Trust)
W R Frost & Co Riversdale Ashburton Road TOTNES Devon TQ9 5JU
The Charity of Douglas William Mitchell (The Birdwood House Trust)
Contents of the Financial Statements for the Year Ended 5 November 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 11 |
The Charity of Douglas William Mitchell (The Birdwood House Trust)
Report of the Trustees
for the Year Ended 5 November 2021
The trustees present their report with the financial statements of the Charitable Incorporated Organisation (CIO) for the period ending 5 November 2020. 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
Birdwood House is a Listed Building located in the centre of Totnes and the trustees aim to ensure its long-term care and maintenance, to enable it to continue to provide satisfactory facilities for use as a rest room for the elderly and space for exhibitions and other educational purposes.
ACHIEVEMENT AND PERFORMANCE
This year has been difficult due to the uncertainty and restrictions surrounding the pandemic. The gallery and meeting rooms were closed for extended periods and when they were open social distancing and people's willingness to chance infection did limit numbers. The consequential loss of income was alleviated by the relevant business support from the Government.
FINANCIAL REVIEW
Reserves policy
The trustees are striving to increase the income from the use of Birdwood House, in order to accumulate reserves for the long-term maintenance and improvement of the premises. At the same time retaining a level of charges that allows the gallery to be available for use by new unestablished artists and craftspeople. The trustees transfer any operating surplus to the reserves for major repair and maintenance of Birdwood House, the aim is to achieve reserves to the value of 20% of the reinstatement cost of the building.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The CIO (Foundation) was formed by constitution signed on 30 May 2017 and registered with the Charity Commission 1 June 2017.
Recruitment and appointment of new trustees
New trustees are appointed at the discretion of the existing trustees. The CIO uses the established links to consult and inform the Town Council as and when required.
Organisational structure
Due to Covid-19 restrictions only two formal meetings were held during the period to conduct the business of the charity. The charity employs a secretary to administer the charity and a manager to handle the meeting rooms, rest room and gallery space at Birdwood House.
Related parties
The CIO works closely with the Mitchell Trust and the Wakefield Trust, with one trustee and the secretary, being common to the Mitchell Trust and one trustee and the secretary being common to the Wakefield Trust.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1173240
Principal address
C/o Dr J Severn The Coach House Station Road South Brent Devon TQ10 9BB
Page 1
The Charity of Douglas William Mitchell (The Birdwood House Trust)
Report of the Trustees
for the Year Ended 5 November 2021
Trustees
M C Mitchell Chair Mrs J Mitchell Miss J A Westacott MBE D Horsburgh Miss S Lawrence
Independent Examiner
W R Frost & Co Riversdale Ashburton Road TOTNES Devon TQ9 5JU
Approved by order of the board of trustees on 8 August 2022 and signed on its behalf by:
M C Mitchell - Trustee
Page 2
Independent Examiner's Report to the Trustees of The Charity of Douglas William Mitchell
Independent examiner's report to the trustees of The Charity of Douglas William Mitchell
I report to the charity trustees on my examination of the accounts of The Charity of Douglas William Mitchell (the Trust) for the year ended 5 November 2021.
Responsibilities and basis of report
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 have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
R J Lewis ACA W R Frost & Co Riversdale Ashburton Road TOTNES Devon TQ9 5JU
16 August 2022
Page 3
The Charity of Douglas William Mitchell (The Birdwood House Trust)
Statement of Financial Activities for the Year Ended 5 November 2021
| 2021 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 21,670 Charitable activities Property Letting 22,795 Investment income 2 4,102 Total 48,567 EXPENDITURE ON Charitable activities Property Letting 30,530 Net gains/(losses) on investments 17,822 NET INCOME/(EXPENDITURE) 35,859 RECONCILIATION OF FUNDS Total funds brought forward 183,337 TOTAL FUNDS CARRIED FORWARD 219,196 |
2020 Total funds £ 20,000 21,463 4,753 46,216 27,831 (19,943) (1,558) 184,895 183,337 |
|---|---|
The notes form part of these financial statements
Page 4
The Charity of Douglas William Mitchell (The Birdwood House Trust)
Balance Sheet
5 November 2021
| 2021 Unrestricted funds Notes £ FIXED ASSETS Tangible assets 5 44,286 Investments 6 84,018 128,304 CURRENT ASSETS Debtors 7 2,991 Cash at bank and in hand 88,801 91,792 CREDITORS Amounts falling due within one year 8 (900) NET CURRENT ASSETS 90,892 TOTAL ASSETS LESS CURRENT LIABILITIES 219,196 NET ASSETS 219,196 FUNDS 9 Unrestricted funds 219,196 TOTAL FUNDS 219,196 |
2020 Total funds £ 49,721 66,196 115,917 2,932 66,479 69,411 (1,991) 67,420 183,337 183,337 183,337 183,337 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 8 August 2022 and were signed on its behalf by:
M C Mitchell - Trustee
The notes form part of these financial statements
Page 5
The Charity of Douglas William Mitchell (The Birdwood House Trust)
Notes to the Financial Statements for the Year Ended 5 November 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
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 2019)', 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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 4% on cost Fixtures and fittings - 20% on cost
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.
Fixed asset investments
Investments are included at closing mid-market value at the balance sheet date.
Page 6
continued...
The Charity of Douglas William Mitchell (The Birdwood House Trust)
Notes to the Financial Statements - continued for the Year Ended 5 November 2021
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Dividends received | 3,715 | 4,396 |
| Deposit account interest | 387 | 357 |
| 4,102 | 4,753 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 November 2021 nor for the year ended 5 November 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 November 2021 nor for the year ended 5 November 2020.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| funds | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 20,000 |
| Charitable activities | |
| Property Letting | 21,463 |
| Investment income | 4,753 |
| Total | 46,216 |
| EXPENDITURE ON | |
| Charitable activities | |
| Property Letting | 27,831 |
| Net gains/(losses) on investments | (19,943) |
| NET INCOME/(EXPENDITURE) | (1,558) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 184,895 |
| TOTAL FUNDS CARRIED FORWARD | 183,337 |
continued...
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The Charity of Douglas William Mitchell (The Birdwood House Trust)
Notes to the Financial Statements - continued for the Year Ended 5 November 2021
5. TANGIBLE FIXED ASSETS
| Long leasehold £ COST At 6 November 2020 and 5 November 2021 135,868 DEPRECIATION At 6 November 2020 86,147 Charge for year 5,435 At 5 November 2021 91,582 NET BOOK VALUE At 5 November 2021 44,286 At 5 November 2020 49,721 6. FIXED ASSET INVESTMENTS MARKET VALUE At 6 November 2020 Revaluations At 5 November 2021 NET BOOK VALUE At 5 November 2021 At 5 November 2020 There were no investment assets outside the UK. The investment is 5462 units in M&G Charifund Income Units. (Cost £29,356) Cost or valuation at 5 November 2021 is represented by: Valuation in 2021 |
Fixtures and fittings Totals £ £ 1,030 136,898 1,030 87,177 - 5,435 1,030 92,612 - 44,286 - 49,721 Listed investments £ 66,196 17,822 84,018 84,018 66,196 Listed investments £ 84,018 |
|---|---|
continued...
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The Charity of Douglas William Mitchell (The Birdwood House Trust)
Notes to the Financial Statements - continued for the Year Ended 5 November 2021
| 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 9. MOVEMENT IN FUNDS Net At movement 6.11.20 in funds £ £ Unrestricted funds General fund 134,337 35,859 Designated - Provision for Maintenance 49,000 - 183,337 35,859 TOTAL FUNDS 183,337 35,859 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 48,567 (30,530) TOTAL FUNDS 48,567 (30,530) |
2021 2020 £ £ 2,991 2,932 2021 2020 £ £ 900 1,991 Transfers between At funds 5.11.21 £ £ (20,000) 150,196 20,000 69,000 - 219,196 - 219,196 Gains and Movement losses in funds £ £ 17,822 35,859 17,822 35,859 |
2020 £ 2,932 2020 £ 1,991 At 5.11.21 £ 150,196 69,000 |
2020 £ 2,932 2020 £ 1,991 At 5.11.21 £ 150,196 69,000 |
2020 £ 2,932 |
|---|---|---|---|---|
| 2020 £ 1,991 |
||||
| 219,196 | ||||
| 219,196 | ||||
| 35,859 |
Comparatives for movement in funds
| Unrestricted funds General fund Designated - Provision for Maintenance TOTAL FUNDS |
At 6.11.19 £ 184,895 - 184,895 184,895 |
Net movement in funds £ (1,558) - (1,558) (1,558) |
Transfers between funds £ (49,000) 49,000 - - |
At 5.11.20 £ 134,337 49,000 |
|---|---|---|---|---|
| 183,337 | ||||
| 183,337 |
continued...
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The Charity of Douglas William Mitchell (The Birdwood House Trust)
Notes to the Financial Statements - continued for the Year Ended 5 November 2021
9. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 46,216 | (27,831) | (19,943) | (1,558) |
| TOTAL FUNDS | 46,216 | (27,831) | (19,943) | (1,558) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Designated - Provision for Maintenance TOTAL FUNDS |
At 6.11.19 £ 184,895 - 184,895 184,895 |
Net movement in funds £ 34,301 - 34,301 34,301 |
Transfers between funds £ (69,000) 69,000 - - |
At 5.11.21 £ 150,196 69,000 |
|---|---|---|---|---|
| 219,196 | ||||
| 219,196 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 94,783 | (58,361) | (2,121) | 34,301 |
| TOTAL FUNDS | 94,783 | (58,361) | (2,121) | 34,301 |
Unrestricted funds comprise those funds which the trustees are free to use in accordance with the charitable objects.
Transfers between funds
The transfer of funds represents the transfer of the unrestricted accumulated funds of the predecessor charity.
continued...
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The Charity of Douglas William Mitchell (The Birdwood House Trust)
Notes to the Financial Statements - continued for the Year Ended 5 November 2021
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 5 November 2021.
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