| CONTENTS: | CONTENTS: | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Trustees' | Annual | Report | ||||||||
| Independent Examiner's |
Report | |||||||||
| Statement ofFinancial | Activities | |||||||||
| Balance | Sheet | |||||||||
| Statement ofCash Flow | ||||||||||
| Notes to | the Financial | Statements | ||||||||
| TRUSTEES: | A RBlake, | Treasurer | JJones | |||||||
| P Cowell, | Chairman | RMonk, President | ||||||||
| M Wishart | G Wellman, | Vice President | ||||||||
| JDavison | M Wells | |||||||||
| RHarding | M Stewart | (resigned November | 2020) | |||||||
| TRUST | ADDRESS: | 38 Victoria | Homes | |||||||
| Victoria Road | ||||||||||
| Cambridge | ||||||||||
| CB43DX | ||||||||||
| CHARITY REGISTRATION NUMBER: | 1177888 | |||||||||
| INDEPENDENT | E~RS: | Prentis &Co LLP | ||||||||
| Chartered | Accountants | |||||||||
| &.Independent | Examiners | |||||||||
| 115cMilton | Road | |||||||||
| Cambridge | ||||||||||
| CB4 IXE | ||||||||||
| BANKERS: | Barclays Bank | |||||||||
| Cambridge | Branch | |||||||||
| StAndrews | Street | |||||||||
| Cambridge | ||||||||||
| CB2 3AX | ||||||||||
| INVESTMENT | MANAGERS: | Charles Stanley | &Co.Limited | |||||||
| 3rd Floor | ||||||||||
| Ravenscroit | House | |||||||||
| s9 -61 Regent | Street | |||||||||
| Cambridge | ||||||||||
| CB2 IAB |
| Notes | 2020 | 2020 | 2019 | 2019 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | 2020 | Unrestricted | Restricted | 2019 | |||||
| Funds | Funds | Total | Funds | Funds | Total | |||||
| f | 8 | f | ||||||||
| INCOME | ||||||||||
| Covenants, donations |
||||||||||
| and legacies | 878 | 878 | 936 | 936 | ||||||
| Investment income |
2 | 28074 | 57 | 28131 | 30853 | 141 | 30994 | |||
| Income from charitable | activities: | |||||||||
| Levies from residents | 91749 | 91749 | 87371 | 87371 | ||||||
| Other incoming resources | 3104 | 3104 | 10870 | 10870 | ||||||
| Total income | 123805 | 57 | 123862 | 130030 | 141 | 130171 | ||||
| EXPENDITURE | ||||||||||
| Costs ofraising funds: | ||||||||||
| Investment management |
costs | 5451 | 5451 | 7201 | 7201 | |||||
| Expenditure on charitable |
activities: | |||||||||
| Light and heat | 1851 | 1851 | 2281 | 2281 | ||||||
| Rates | 751 | 751 | 824 | 824 | ||||||
| Insurance | 2501 | 2501 | 2539 | 2539 | ||||||
| Repairs and maintenance | 24252 | 24252 | 30263 | 30263 | ||||||
| Subscriptions | 220 | 220 | 210 | 210 | ||||||
| Wages and honorarium | 4 | 26545 | 26545 | 27876 | 27876 | |||||
| Telephone and care call |
3398 | 3398 | 2929 | 2929 | ||||||
| Printing, stationery and |
advertising | 351 | 351 | 301 | 301 | |||||
| Gifts and parties for residents | and staff | 1020 | 1020 | 1289 | 1289 | |||||
| Sundry expenses | 324 | 324 | 557 | 557 | ||||||
| Depreciation | 33028 | 864 | 33892 | 33415 | 864 | 34279 | ||||
| Audit and examination | fees | 1620 | 1620 | 2394 | 2394 | |||||
| Total expenditure | 101312 | 864 | 102176 | 112079 | 864 | 112943 | ||||
| Net income and net movement | in funds | |||||||||
| before gains and losses | on | |||||||||
| investments | 3 | 22493 | (807) | 21686 | 17951 | (723) | 17228 | |||
| Net gains on investment | 547 | 547 | 62750 | 62750 | ||||||
| Net movement in funds |
for | the | year | 23040 | (807) | 22233 | 80701 | (723) | 79978 | |
| Reconciliation offunds |
||||||||||
| Total funds brought forward |
1885996 | 19915 | 1905911 | 1805295 | 20638 | 1825933 | ||||
| Total funds carried forward | 1909036 | 19108 | 1928144 | 1885996 | 19915 | 1905911 |
| Note | 2020 | 2019 | ||||
|---|---|---|---|---|---|---|
| 8 | ||||||
| FIXEDASSETS | ||||||
| Tangible assets |
912627 | 946519 | ||||
| Investments | 638978 | 616733 | ||||
| Total fixed assets | 1551605 | 1563252 | ||||
| CURRENT ASSETS | ||||||
| Debtors | 2422 | 1984 | ||||
| Cash at bank and in | hand | 384048 | 345743 | |||
| Total current assets | 386470 | 347727 | ||||
| LIABILITIES: | ||||||
| Creditors; amounts |
falling due | |||||
| within | one year | 9931 | 5068 | |||
| Net Current Assets | 376539 | 342659 | ||||
| NET ASSETS | 1928144 | 1905911 | ||||
| THE FUNDS OF THE CHARITY | ||||||
| Restricted Funds |
9 | 19108 | 19915 | |||
| Unrestricted Funds |
10 | 1909036 | 1885996 | |||
| Total Charity Funds | 1928144 | 1905911 |
| Note | 2020 | 2019 | ||
|---|---|---|---|---|
| 6 | ||||
| Net cash provided by/(used |
in) operating | |||
| activities | 14 | 31872 | 16881 | |
| CASH FLOW FROM INVESTING | ACTIVITIES: | |||
| Interest and dividends | 17105 | 20883 | ||
| Rental income | 11026 | 10111 | ||
| Purchase ofinvestments | (59342) | (65348) | ||
| Proceeds from sale ofinvestments | 37644 | 61014 | ||
| Net cash provided by investing activities |
6433 | 26660 | ||
| Change in cash and cash equivalents |
in the year | 38305 | 43541 | |
| Cash and cash equivalents | brought | forward | 345743 | 302202 |
| Cash and cash equivalents | carried forward | 384048 | 345743 |
| INVESTMENT TNCOME | 2020 | 2020 | 2020 |
|---|---|---|---|
| YEARENDED 3ISTDECEMBER 2020 | Unrestricted | Restricted | Total |
| 6 | |||
| Income &om UK listed investments | 14163 | 14163 | |
| Income &om non UK listed investments | 2126 | 2126 | |
| Bank and other interest | 759 | 57 | 816 |
| UK rentai income | 11026 | 11026 | |
| 28074 | 57 | 28131 | |
| INVESTMENT INCOME | 2019 | 2019 | 2019 |
| YEARENDED 31STDECEMBER2019 | Unrestricted | Restricted | Total |
| Income &om UK listed investments | 16934 | 16934 | |
| Income from non UK listed investments | 2582 | 2582 | |
| Bank and other interest | 1226 | 141 | 1367 |
| UK rental income | 10111 | 10111 | |
| 30853 | 141 | 30994 |
| NET INCOME FOR THE YEAR | NET INCOME FOR THE YEAR | 2020 | 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| The surplus ofincome | over expenditure | for | the | year is | stated after charging: | |||||
| Depreciation oftangible fixed assets |
33892 | 34279 | ||||||||
| Audit fees | 1254 | |||||||||
| Independent examiner |
fee | 1620 | 1140 | |||||||
| STAFF COSTS | 2020 | 2019 | ||||||||
| The staff' costs were; | 8 | |||||||||
| Salaries | 26372 | 27731 | ||||||||
| Pension contributions | 173 | 145 | ||||||||
| 26545 | 27876 | |||||||||
| The average monthly |
number ofstaff employed | by the | charity during | the | year was as follows: | |||||
| 2020 | 2019 | |||||||||
| Direct charitable | 3 | 3 | ||||||||
| No employees emoluments exceeded f60,000. |
||||||||||
| The Board ofTrustees | consider themselves | the | key management | and | they | are not remunerated. | ||||
| TANGIBLE FIXEDASSETS | ||||||||||
| YEAR ENDED 3ISTDECEMBER 2020 | Total | |||||||||
| VALUATION | ||||||||||
| Balance at 1st January | 2020 and 31stDecember | 2020 | 1632201 | |||||||
| DEPRECIATION | ||||||||||
| Balance at 1st January | 2020 | 397 | 35540 | 649745 | 685682 | |||||
| Charge for the year | 2029 | 31863 | 33892 | |||||||
| Balance at 31stDecember 2020 | 397 | 37569 | 68]608 | 719574 | ||||||
| NET BOOK VALUE | at 31st December | 2020 | 1079 | 911548 | 912627 | |||||
| TANGIBLE FIXEDASSETS | Office | Fixtures & | Freehold land |
|||||||
| YEAR ENDED 31STDECEMBER 2019 | Equipment | Fittings | &buildings | Total | ||||||
| VALUATION | ||||||||||
| Balance at 1st January | 2019 and 31st December | 2019 | 397 | 38648 | 1593156 | 1632201 | ||||
| DEPRECIATION | ||||||||||
| Balance at 1st January | 2019 | 397 | 33124 | 617882 | 651403 | |||||
| Charge for the year | 2416 | 31863 | 34279 | |||||||
| Balance at 31stDecember 2019 | 397 | 35540 | 649745 | 685682 | ||||||
| NET BOOK VALUE | at 31st December | 2019 | 3108 | 943411 | 946519 |
| INVESTMENTS HELD AS FIXEDASSETS | 2020 | 2020 | 2020 |
|---|---|---|---|
| YEAR ENDED 31STDECEMBER 2020 | Land | Securities | Total |
| Market value at 1st January 2020 | 1250 | 615483 | 616733 |
| Additions | 59342 | 59342 | |
| Disposals | (37644) | (37644) | |
| Net realised losses | (6441) | (6441) | |
| Net unrealised gains |
6988 | 6988 | |
| Market value at 31stDecember 2020 | 1250 | 637728 | 638978 |
| Cost at 31stDecember 2020 | 1250 | 465463 | 466713 |
| INVESTMENTS HELD AS FIXEDASSETS | 2019 | 2019 | 2019 |
| YEAR ENDED 31STDECEMBER2019 | Land | Securities | Total |
| f. | |||
| Market value at 1st January 2019 | 1250 | 548399 | 549649 |
| Additions | 65348 | 65348 | |
| Disposals | (61014) | (61014) | |
| Net realised gains | 2020 | 2020 | |
| Net unrealised gains |
60730 | 60730 | |
| Market value at 31stDecember 2019 | 1250 | 615483 | 616733 |
| Cost at 31stDecember 2019 | 1250 | 443399 | 444649 |
| DEBTO | RS | 2020 | 2019 | ||
|---|---|---|---|---|---|
| Due within | Due within | ||||
| one year | one year | ||||
| 6 | |||||
| Prepayments | and accrued income | 2422 | 1984 | ||
| CREDITORS | 2020 | 2019 | |||
| Due withm | Due within | ||||
| one year | one year | ||||
| Accruals | and | deferred | income | 9931 | 5068 |
| MOVEMENT IN RESTRICTED FUNDS | Door | RAlsop | Pavilion | |
|---|---|---|---|---|
| YEAR ENDED 3ISTDECEMBER 2020 | Fund | Legacy | Fund | 2020 |
| 8 | ||||
| Balance at 1st January 2020 | 899 | 7704 | 11312 | 19915 |
| Income | 23 | 34 | 57 | |
| Expenditure | (864) | (864) | ||
| Balance at 31stDecember 2020 | 35 | 7727 | 11346 | 19108 |
| MOVEMENT IN RESTRICTED FUNDS | Door | RAlsop | Pavilion | |
| YEAR ENDED 31STDECEMBER 2019 | Fund | Legacy | Fund | 2019 |
| 8 | ||||
| Balance at 1st January 2019 | 1763 | 7647 | 11228 | 20638 |
| Income | 57 | 84 | 141 | |
| Expenditure | (864) | (864) | ||
| Balance at 31stDecember 2019 | 899 | 7704 | 11312 | 19915 |
| MOVEMENT IN UNRESTRICTED FUNDS | MOVEMENT IN UNRESTRICTED FUNDS | Balance at | Balance at | |||
|---|---|---|---|---|---|---|
| YEAR | ENDED 31STDECEMBER 2020 | 1st | Expenditure, | 31st | ||
| January | gains and | December | ||||
| 2020 | income | losses | Transfers | 2020 | ||
| 8 | ||||||
| Revaluation Reserve |
602865 | (21531) | 581334 | |||
| General | Funds | 1283131 | 123805 | (100765) | 21531 | 1327702 |
| 1885996 | 123805 | (100765) | 1909036 | |||
| MOVEMENT IN UNRESTRICTED FUNDS | Balance at | Balance at | ||||
| YEAR | ENDED 31STDECEMBER2019 | 1st | Expenditure, | 31st | ||
| January | gains and | December | ||||
| 2019 | Income | losses | Transfers | 2019 | ||
| Revaluation Reserve |
624396 | (21531) | 602865 | |||
| Capital | Funds | 95554 | (95554) | |||
| General | Funds | 1085345 | 130030 | (49329) | 117085 | 1283131 |
| 1805295 | 130030 | (49329) | 1885996 |
| ANALYSIS OF FUNDS | Unrestricted | Restricted | Total | Unrestricted | Restricted | Total |
|---|---|---|---|---|---|---|
| 2020 | 2020 | 2020 | 20]9 | 2019 | 2019 | |
| 6 | 6 | 6 | ||||
| Tangible fixed assets |
912592 | 35 | 912627 | 945620 | 899 | 946519 |
| Investments | 638978 | 638978 | 616733 | 616733 | ||
| Net current assets | 357466 | 19073 | 376539 | 323643 | 190]6 | 342659 |
| 1909036 | 19108 | 1928144 | 1885996 | 19915 | 190591] |
| 14. | RECONCILIATION | OF NET | MOVEMENT | MOVEMENT | IN FUNDS TO NET | ||
|---|---|---|---|---|---|---|---|
| CASH FLOW FROM | OPERATING ACTIVITIES | 2020 | 2019 | ||||
| Net movement in funds |
22233 | 79978 | |||||
| Add back depreciation | charge | 33892 | 34279 | ||||
| Deduct investment income shown |
in investing | activities | (28131) | (30994) | |||
| Deduct gains on investments | (547) | (62750) | |||||
| (Increase)/decrease in |
debtors | (438) | 195 | ||||
| Increase/(decrease) in |
creditors | 4863 | (3827) | ||||
| Net cash provided by |
operating | activities | 3]872 | ]6881 |