2021-12-31-accounts - Andrews Charitable Trust

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Reference details for the Trust	2
Trustees Report Audit Report Consolidated Statement of Financial Activities	3 36 40
Trust Statement of Financial Activities	42
Consolidated Balance Sheet	43
Trust Balance Sheet	45
Consolidated Statement ofCash Flows	47
Notes to the financial statements	48


Andrew's Estate	Agents		di	sclos	e	our energy	use and	g	r	eenhouse	gas em	i	ssions		in
ine with the requirements				ofthe		Companies	Act 2006		(Strategic		and Directors'
Reports) Regulations		2013and			latest 2018		regulations.
						93,296	128/01		-27.3%		17		24 $7-	-27.1% - li
Gmss Annual Total					2,2$52I33		2,3922%2			-7.7%	295	319			-7.4%
Intensity fdetrlc(Number	efgmpl		east				462 068			1.5%	1	~	462 1	-100.0%
NetAnnualrotal					1,2852N$1,392+It					-7.7%	295		319		-7.4%
Table 1rprimary Statement for		Andrew's		Estate Agents
The,a se	ne		t	e		gco 1rge 3em lonsa fo
													71	-3
Scope2 pa 2 Scope3 ulb' Total (madret based)						1,004,323 67,257 fr285835 7 ' 1&5,833	976,924 9 6' 24 $3,22$ 1r39b842 1,3922%2	' -'~		2.$% 2,$% -19.2% -717% -7.7%	2$4 228 2$4,228 15 20 295 ' 319 ". 295 319			'	2.8% 2.$% -22.6% -73% -7.3%
Table gr Greenhouse Gas gmbslons i s			forAndrews o Nl i			gstate Agents i do~iud				i i.

								As restated
					Restricted	Unrestdcted	Total	Total
					funds	funds	funds	funds
					2021	2021	2021	2020
				Note	5	6	5	5
Income from:
Donations and grants				4	258,512	141,027	399,53$	24,982
Other trading activities				5		23,604,306	23,604,306	19,990,049
Investments						279,750	27$,750	591,966
Other income						167,338	15'7,338	2,142211
Total income					268,S12	24,182,610	24,441,022	22 749,208
Expenditure on:
Raising funds						26,1$8,783	26,190,783	23,315,513
Charitable activities					3,068	650,824	654,793	450,024
Total expenditure					3,$6926,850,607		26,854,576	23,755,537
Net incomel(expenditure)			before net
gains/(losses) on	investments				254,543	(2,668,097)	(2,413,564)	(1,016,329)
Net gains/(losses)	on	investments				563,5$3	S63,503	(601,848)
Net incomel(expenditure)			before
taxatlon					264,543	(2,104,504)	(1,649,061)	(1,818,177)
Taxation						(61,446)	(01,446)
Net Incomel(expenditure)			after
taxation					254,543	(2,165,94$)	(1,911,406)	(1,816,177)
Transfers between	funds			26	(100,000)	100,000
Transfers to Non controlling			interest	25				(135,106)
Net movement in	funds before other
recognised losses					164,543	(2,066,949)	(1,911,406)	(1,953,283)
Other recognised	losses:
Losses on revaluation		offixed assets				80,000	80,000	(320,467)
Net movement in	funds				154,643	(1,086,048)	(1,831,406)	(2273,530)

								As resisted
					Restricted	Unrestricted	Total	Total
					funds	funds	funds	funds
				Note	2021 6	2021 6	2021 2	2020f
Reconcglation offunds:
Total funds brought forward (restated)					83,231	17,213,017	17,2$8,248	19,569,998
Net income((expenditure) the parent Trust		attributable	to		154,543	(2,820,642)	(2,474,$0$)	(894,531)
Net gains sgributable Trust	to	the parent				643,6$3	643,593	('l,054,019)
					237,774	16,227,060	16,464,842	17,621,448
Net income attributable		to non-
controlling interests								(121,799)
Transfers stuibutable	to non-controlling
interests								(135,100)
Net gains attiibutabts interests	to non~trolling							(68,295)
Total funds carried forward					237,774	15,227,068	15,464,842	17,29E248

					Restricted	Unrestricted	Total	Tote/
					funds	funds	funds	funds
					2021	2021	2021	2020
					6	6	6	5
Income from:
Donations and grants					2,122,221	141,007	2,263,228	24,982
Charilable activities						60,320	80,320	158,099
Distribution from Andrews 6 Parlners				Limited		27,426	27,426	725,440
Other						200,497	200,4$7	43,558
Total income					2,122,221	429,260	2,651~71	952,079
Expenditure on:
Charitable activities						(854,793)	(654,793)	(450,024)
Total expenditure						(664,7$3)	($64,793)	(450,024)
Net income/(loss)	before Investment
gains/(losses)					2,122,221	(225,543)	1,896,678	502,055
Net gsins/(hsses)	on	investments				121,504	121,504	(187,314)
Net gains/(losses)	on	investment	properties			7,089	7,089	(500,000)
Net gains/(losses) gains and losses	before other		recognised		2,122.221	(86,850)	2,025,271	(185,259)
Transfer between funds					(100,000)	100,000
Losses on revaluation		ofinvestments		in
subsidia des						(2,550,437)	(2,660,437)	(644,455)
Net movement In	funds				2,022,221	(2,547,387)	(525,166)	(1,029,725)
Reconcgiation of	funds:
Total funds brought	foiward				83,231	15,900,527	15,983,768	17,013,483
Movement in funds					2,022,221	(2,547,387)	(626,166)	(1,029,725)
Total funds carried		forward			2,106,452	13,353,140	16/68,692	15,983,758

	CONSOLIDATED	CONSOLIDATED	BALANCE SHEET
		AS AT31DECEISBER 2021
					Resfefed
		Note	2021 6		2020f
Fixed assets
Intangible assets		14	454,637		282,268
Tangible assets		15	5,115,704		4,405,355
Investments		17	1,102,826		918,298
Social investments		18	3,280,865		1,561,502
Investment property		16	4,521,773		3,895.000
			14,476,706		1f,043,423
Current assels
Debtors		19	2,609,067	2800,447
Cash at bank and in	hand	30	6898,355	9,612407
			9,107822	12,4'l2 851
Creditors: amounts year	falling due within one	20	(4,479,787)	(2,765,958)
Net current assets			4,627,836		9,645,896
Total assets less current EabSltles			18,103,340		20,690,319
Creditors: amounts than one year	falling due after more	21	(2,900,000)		(2,500,000)
Provisions for liabilities		24	(736/88)		(894,071)
Total net assets			15,464,842		17,29E248

		TRUST BALANCE SHEET	TRUST BALANCE SHEET
		AS AT31DECEMBER 2021
				2021		2020
						5
Fixed assets
Tangible assets Investments		15 17		281,615 $,874,162		f59,351 10,376,382
Social investments		18		3,280,865		1,561,502
Investment properly		18		3,071,773		3,000,000
				16,608,415		f5,097,235
Current assets
Debtors		19	27,246		354,050
Cash st bank and in hand			576,728		711,515
			602,973		1.055,575
Creditors: amounts year	falling due within one	20	(152,7$6)		(f79.052)
Net current assets				450,177		886,523
Creditors: amounts than one year	falling due after more	21		(1,500,000)
Total net assets				15,458,6$2		15,983,758

				2021		2020
		Note		E
Charity funds
Restricted funds		26		2,106,452		83,231
Unrestricted funds
Generalfunds		26	13,353,140		15,000,527
Total unrestricted	funds	26		13,353,140		15,900,527
Total funds				15,458,6$2		15983758

				Note	2021 5	2020 f
Cash flows from operating activities
Net cash used in operating activities				29	(1,512,888)	(1,739,502)
Cash flows from investing activities
Dividends, interests and rents from	investments				279,750	259,810
Purchase ofsocial investments					(1,S13,824)
Proceeds from the sale of tangible fixed assets					453,334	68,671
Purchase ofintangible assets					(234,000)
Purchase oftangible fixed assets and social			investmsnts		(1,$13,861)	(144,174)
Purchase ofinvestment properties					(120,000)
Purchase ofinvestments						(25,IM0)
Profit on disposal of branch						322,f55
Government grants received					49,778	2,029,510
Cash on merger with CBPT					$9,229
Net cash (used in)/provided by investing			activities		(3,199,S86)	2,620,973
Cash flows from financing activities
Repayments of borrowing						(92,703)
Interest paid					(24,727)	(5,422)
Nsw bankloans					1,500,000	2500,000
Dividends paid to minority interest						(135,106)
Other new loans					160,000
Hire purchase					(26,763)
Net cash provided by financing	actlviths				1,6$8,520	2,286,769
Change in cash and cash equivalents		In	the year		(3,114,052)	3,048,140
Cash and cash equivalents at the	beginning		ofthe year		9,612,407	6,564,2S7
Cash snd cash equivalents atthe end of			the year	30	6898,355	9,512,407
The notes on pages 46to 83form	part ofthese financial statements

			Restricted	Unrestricted	Total	Total
			funds	funds	funds	funds
			2021	2021	2021	2020
			6	6	6
Donations	and grants		100,000	141,027	241,027	24,982
Donation Promotion	from merger with Christian Trust	Book	158,512		158,512
			258,512	141,027	369,538	24,982
Total 2020				24,982	24,982

							Total
					Unrestricted	Total	funds
					funds	funds	Restated
					2021 6	2021 6	2020f
Consolidated	turnover	ofAndrews	&Partners	Limited	23,604,395	23,604,395	19,990,049
Total 2020					19,990,049	19,990,049

An analysis ofthe consolidated turnover ofAndrews	snd Partners by class ofturnover isas f	ollows:
		Res!sled
	2021 6	2020f
Estate agency	s,ysa,ass	7,292 273
Conveyancing	828,787	548,136
Financial services	3,084,656	2,710,395
Letting and management	a,ya5,863	9,341,245
	23,604,366	19.890,049
		Page 55

				Unrestricted	Total	Total
				funds	funds	funds
				2021	2021	2020
					6	6
Arising from	investment	properties		152,378	1S2,378	43,558
Arising from	listed investments			48,116	48,116	88,875
Arising from	social investments			60,320	60,320	69,224
Interest receivable				18,936	18,936	SE153
Profit on disposal ofbranch						322,156
				279,750	279,750	591,966
Total 2020				591,965	591,9S6
Other incoming resources
				Unrestricted	Total	Total
				funds	funds	funds
				2021	2021	2020
					6	5
Government	grants: Coronavirus		Job Retention Scheme	49,776	49,776	1,364,510
Rental income				107,022	107,022	83,299
Insurance income				540	540	29,402
Government	grant income: Rates		relief grant			665,000
				157,338	157,338	2,142211
Total 2020				2,142,211	2,142,211

	Grants to	Total	Total
	Institutions	funds	funds
	2021	2021	2020
	E	E
Grants, Establish young people	36,670	36,670	37,000
Grants, Carsrs	45,000	46,000	45,332
Grants, Relief of poverty	177,861	177,881	142,559
Grants, Christian	72,000	72,000
Grants, Speaking Volumes	18,887	18,887
	350,218	360,218	296,89'I
Tll2020	295,891	296,891

			Restricted	Unrestricted	Total	Total
			funds	funds	funds	funds
			2021	2021	2021	2020
			E		E	E
Summary	by fund type
Establish-young		people	3.969	64,594	88,563	93,032
Carere				84,135	84&136	52,270
Relief of poverty				332,187	332,167	195,821
Christian				134,816	134,618	98,901
Speaking Volumes				35,312	35,312
Total2021			3,969	650,824	664,793	450,024
Total 2020				450024	450,024

		Activities	Grant
		undertaken	funding of	Support	Total	Tolel
		directly	activities	COStS	funds	funds
		2021f	2021	2021f	2021	2020f
Establish-young	people	118,146	36,670	19,757	174,573	93,032
Carere			45,000	23,921	68,921	62,270
Relief of poverty			177,661	94,440	272,101	195,821
Christian			72,000	38,273	110,273	98,901
Speaking Volumes			18,887	10.038	28,925
Total2021		118,146	350,218	186,429	654,793	450,024
Total 2020		57,113	295,891	96,020	450,024

	Estabgsh
	young	Total	Total
	people	funds	funds
	2021f	2021f	2020f
Depreciation	54,439	54,439	21,268
Promotion expenses			2,115
Property expenses	13,178	13,178	33,730
Professional fee expenses	50,529	50,529
Total 2021	118,146	118,146	57,113
Total 2020	57,113	57,113

		Establish
		young		Relief of
		people 2021	Carers 2021	poverty 2021	Chrhrtian 2021
		6		2
Staff costs		10,680	13,107	51,745	20,971
Office costs		7,870	9,658	38,129	15,452
Auditor's remuneration		942	1,156	4,566	1,850
Trustees' expenses		265
Professional	snd legal fees
Total2021		'l9,757	23,921	94,440	38,273
Tolsl 2020		fe,e53	13,481	42,328	2'l,378
			Speaking	Total	Tolsl
			Volumes	funds	funds
			2021	2021	2020
			6	6
Staff costs			5,501	102,004	74,451
Office costs			4,053	76,182	6,387
Auditor's remuneration			484	8,998	3,280
Trustees' expenses				266	338
Professional	snd legal fees				11,564
Total 2021			10,038	186428	96,020
Tl2020				96,020

Auditor's remuneration
			2021 5	2020f
Fees payable to the Trust's auditor	for the audit ofthe Trust's annual
accounts			7,000
Fees payable to the Trust's auditor	in respect of:
Auditing offinancial statements of	subsidiadies	ofthe Trust	30,000	30,000
Taxation compliance services			11,500	11,500
All non-audit services not included	above		6,000	6,000

Staff costs
					Group	Gmup	Trust	Trust
					2021 6	2020f	2021 6	2020 5
Wages and	salaries			14,177,682		12,780,842	87,oaa	63,095
Social security costs				1,466,184		1.305.792	a,ao7	5,697
Contribution	to defined contdbution	pension
schemes					468,960	475,577	5,308	4,659
				16,112,746		14,565,211	102,004	74,451
During the	financial year the Group	made termination			payments	of5239,040 (2020:582,373).At		the year
end 8160,000(2020:ENilj was included			within accruals.
The average number ofpemons employed				by the Trust during		the year was as follows:
					Gmup	Gmup	Trust	Trust
					2021	2020	2021	2020
					No.	No.	No.	No.
Estate Agency					taa	218
Lettings					180	127
Charitable	activities				3	2
Admin and	support				87	119
					465	456

				Group	Group
				2021	2020
				No.	No.
In	the	band	560,001 - 870,000	14
In	the	band	670,001 - 880,000	5
In	the	band	f80,001 - 890,000	2
In	the	band	f100,001 - F110,000	1
In	the	band	8110,001 - 5120,000
In	the	band	5150,001 -f160,000
In	the	band	8180,001 - 8190,000
In	the	band	f'220, 001 -f230,000
In	ths	band	2260,001 - 8270,000
In	the	band	5290,001 - 2300,000

		Long4erm	Short&arm
	Freehold	leasehold	leasehold	Motor	Fixtures
	property 8	property K	property 8	vehicles 8	and fittings 8	Total K
Cost orvaluation
At 1 January 2021 (Restated)	3,070,000		238,5$7	1,086,805	11,40S,482	16,800,884
Additions	120,000	200,000			1,6$3,851	1,813,851
Disposals	(465,000)			(171,182)	(3$0,$6$)	(867,160)
Revaluations	135,000	(60,000)	(6,000)			80,000
At 31 December 2021	2,870,000	150,000	233,5$7	$15,613	12,838,375	16,807,586
Depreciation
At 1 January 2021	12,133		1T1,161	874,385	10,33$,850	11,384,528
Charge for the year			2,004	54,T08	768,S63	815,276
On disposals				(144,832)	(3$0,$68)	(606,7$0)
On revalued assets	(12,133)					(12,133)
At 31 December 2021			173,165	784,261	10,734,455	11,6$1,881
Net book value
At 31December 2021	2,870,000	160,000	60,432	131,352	1,$03,820	6,116,704
At 31December 2020	3,057,867		67,436	212,420	1,068,532	4,408,355

		Freehold
		Investment
		property 5
Valuation
At 1 January 2021 (Restated)		3,855,000
Additions		120,000
Gain on	revaluation	442,086
Transfem	in year from social investments	64,684
At 31 December 2021		4,521,773

	Freehold
	Investment
	property 5
Valuation
At 1 January 2021	3,000,000
Gain on revaluation	7,089
Transfers in year from social investments	64,684
At 31December 2021	3,071,773

		Group	Group	Company	Company
		2021	2020	2021	2020
		6		8	6
Historic cost		4,107,686	3,667,595	67,686	57,595
Historic accumulated	depreciation	(2,679,837)	(2615,3f7)	(4,377)	(3,225)
Net book value		1,427,768	f,052,276	63,218	54,370

Social investments
Group and Trust
				Mustard
				Seed
			Establish	Properties	Total
				6	2
Cost orvaluation
At 1 January 2021			1,870/88	50000	I,620,469
Additions			1,813,824		1,813,824
Transfers to investment		property	(84,684)		(64,684)
			3,319,608	50,000	3,369,609
Depreciation
At 1 January 2021			68,966		58,966
Charge for the year			28,778		29,778
			88,744		88,744
Net book value
At 31 December 2021			3,230,865	50,000	3,280,865
At 31 December 2020			1,S11,503	50,000	1,551,503
Social investments	comprise:
			Property	Total	Total
			2021 6	2021f	2020
			3,230,865	3,230,86S	1,511,502
Establish
			Property	Total	Total
			2021 6	2021f	2020f
			50,000	50,000	50,000
Mustard Seed Properties

			Group	Group	Trust	Trust
			2021	2020	2021	2020
			E	E	E	E
Trade debtors			1,472,882	1,531,298	24,658
Amounts	owed by group undertakings					354,080
Other debtors			156,828	222 840
Prepayments		and accrued income	65$,585	377,429	2,687
Deferred	taxation		31$,674	669,082
			2,608,067	2,800,447	27,245	354,080

			Group		Trust
		Group	As resisted	Trust	As restated
		2021 E	2020f	2021 E	2020 E
Bank loans		1,260,000
Obligations under finance lease and hire
purchase contracts			26,753
Trade creditors		684,723	27,218	11,$10
Amounts owed to group undertakings				30,066
Corporation tax			38,289
Other taxation and social security		$33,858	1,204,103
Other cmdttors		182,333	153,304	33,350	33,350
Accruals and deferred	income	1,618,873	1,318,313	77,470	145,702
		4,47$,787	2765,95S	152,7$6	179,052

				2021f	2020f
Charge	for	the	year		2 f57
					2157

The deferred	tax balance is made up as follows:
		Group	Group
		2021 6	2020f
Accelerated	capital allowances	281,662	220,376
Losses			424,946
Capital (gains)/losses		(23,750)
Other short	term timing differences	61,762	21,603
		$10,674	668,925

Statement offun	ds - current yea	r
						Balance at
	Balance at 1					31
	January 2021	Income E	Expenditure 5	Transfers inlout 2	Gainer (Losses) 6	December 2021
Unrestricted
funds
Charitable General Fund	3,457,189	401,864	(650,821)	1,828,443		5,036,675
Investment
Property
Revaluation
Reserve	3,000,000				7,089	3,007,088
Investment
Revaluation Reserve	1,783,166				121,504	1,804,670
Trading Group General Reserve	6,933,969	23,780,646	(26,261,231)		436,000	3,888,374
Non-ccntro0ing interest	1,728,443			(1,728,443)
Trading Group
Revaluation Reserve	1,310,260				80,000	1,3$0,260
	17,213,017	24,182,610	(26,812,062)	100,000	643,693	16,227,06$
Restricted
funds
Establish	83,231	100,000		(100,000)		83,231
Speaking volumes		158,512	(3,969)			154,543
	83,231	258,512	(3,969)	(100,000)		237,774
Total offunds	17,2$$,248	24,441,022	(26,916,021)		643,693	15rl64,842

Statement offunds	Statement offunds	{continued)	{continued)
Statement offunds		- prior year - restated
								Balance at
		Science et						31
		1January				Transfers	Gains'	December
		2020	Income		Expendilure	infout	(Losses)	2020
		6		6	E	6	E	E
Unrestricted
funds
Charitable
General	Fund	2955,134	226,639		(450,024)	725,440		3,457,189
Investment
Property
Revaluation
Reserve							(500,000)	3,000.000
Investment
Revaluation
Reserve		1,970,480					('l87,314)	1,783,1SS
Trading	Group
General	Reserve	S,707,935	22,522,569		(23,315,513)	(636,462)	655430	5,933,959
Non-controlling
interest		2,020,822				(224,084)	(68,295)	1.728,443
Trading	Group
Revaluation
Reserve		1,605,422					(295,162)	1,310,260
		18,759,793	22,749,208		(23,765537)	(135,106)	(395341)	17213,017
Restricted
funds
Establish		83,231						83,231
Totalof	funds	18,843,024	22749,	208	(23,765,537)	(135,106)	(395,341)	17296,248

			Balance at 1 Janua 2021 an ry		ExPs	turn	Transfers in/out	Transfers in/out	Transfers in/out	Gains I (Losses)	Balance at 31 December 2021
Unrestricted		funds
Charitable Fund	General		12,900,527	429,250	(654,793)			100,000		(2,428,933)	10,346,051
Inurstment Revaluation	Properiy Resene		3,000.000							r,oso	3,oor, oso
			15,900,527	429,250	(654,793)			100,000		2,421,844	13,353,140
Restricted	funds
Establish			83,231	100,000				(100,000)			83,231
Speaking	Volumes			2,022,221							2,022,221
			83,231	2,122,221				(100,000)		-	2,105,452
Total funds			15,083,758	2,551,471		654,793			-	(2,421,844	15,468,592
Statement		offunds	- prior year - Charity only
			Balance at1 „	Income	Expenditure		TmnMm I & 1			Gains I (L N	Balance at 31 December 2021
Unmstrlcted		funds
Charitable Fund	General		13,430,252	952,079	(450,024)				-	(1,031,780)	12,$00,627
Inxestment Reuriuation		Property Resene	3,500,000							(500,000)	3,000,000
			16,$30,262	$52,079		450,024			-	1,531,780)	15,000,027
Restricted		funds
Establish			83,231								83,231
			03,231								03,231
Total funds			tr,o(3,463	os2,oro		(45o,o24)			-	(t,s31,76o)	1s,oss,rss

					Group	Group
					2021 6	2020 f
	Net expenditure for the year		(as per Statement ofFinancial Activities)		(1,911,406)	(1,818,177)
	Adjustments for:
	Depreciation charges				832,$20	878,501
	Amortisation charges				67,731	45,277
	Profit on sale offixed assets				25,274	(44,871)
	Dividends, interests	and rents from investments			(27$,760)	(269,810)
	Gains/losses on the	sale ofinvestments			(121,604)	187,314
	Government grants received				(49,776)	(2,029,510)
	Decrease in debtors				1$1,38$	338,585
	Increase in creditors				493,078	339,318
	Taxation credits				(31,741)	31,509
	Merger with CBPT				(158,512)
	Gainsfiosses on revaluation		ofinvestment	property	(442,08$)	614,534
	Interest paid				24,727	5,422
	Impairment ofsocial	investments				20,940
	(Decrease)/Increase	in provisions			(153,318)	282322
	Profit on disposal of	branch				(322 156)
	Net cash used in operating		activities		(2,2(2929(	((.229992(
30.	Analysis ofcash and cash		equivalents

At 31 December 2021 the Group snd the Trust had com payments under non-cancellable operating leases as follows:	mitments to make future min	imum hase
	Group	Group
	2021	2020
	6
Land and buildings
Not later than 1year	1,083,383	970,202
Later than 1 year and not later than 5years	2,723,951	2.758,438
Later than 5years	1,018,$58	1,277,805
	4,826,283	5,006,445

					2021	2020
					5	5
	Other
	Notlaterthan		1 year		186,986	55,597
	Later than	1	year and not Inter than 5years		237,86B	95,512
					424,851	162109
36.	Operating	leases		~Lessor

Operating	leases ~Lessor
		Group	Gmup	Company	Company
		2021	2020	2021	2020
		E		5	5
Not Inter than 1year		482,'I33	493,350	24$,635	231,535
Later than	1 year and not later than 5years	655,614	1,007,060	213,000	426,000
Later than	5years	338,865	419,977
		1,476,612	1,920,397	482,535	657,535