| CONTENTS: | |
|---|---|
| Trustees' Annual Report |
|
| Independent Examiner's |
Report |
| Statement ofFinancial | Activities |
| Balance Sheet | |
| Statement ofCash Flow | |
| Notes to the Financial | Statements |
| TRUSTEES: |
| TRUSTEES: | A RBlake, | (Treasurer) | (Treasurer) | IJones | |
|---|---|---|---|---|---|
| P Cowell | RMonk, (President) | ||||
| M Wishart | G Wellman, | (Vice President) | |||
| JDavison, (Chair) | M Wells | ||||
| RHarding | |||||
| TRUST ADDRESS: | 38 Victoria | Homes | |||
| Victoria Road | |||||
| Cambridge | |||||
| CB43DX | |||||
| CHARITY REGISTRATION NUMBER: | 1177888 | ||||
| INDEPENDENT EXAMINERS; | 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 | |||||
| Ravenscroft | House | ||||
| 59-61 Regent | Street | ||||
| Cambridge | |||||
| CB2 1AB |
| Notes | Notes | 2021 | 2021 | 2020 | 2020 | ||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | 2021 | Unrestricted | Restricted | 2020 | ||||
| Funds | Funds | Total | Funds | Funds | Total | ||||
| INCOME | |||||||||
| Covenants, donations |
|||||||||
| and legacies | 2,130 | 2,130 | 878 | 878 | |||||
| Investment income |
2 | 30,830 | 57 | 30,887 | 28,074 | 57 | 28,131 | ||
| Income from charitable | activities: | ||||||||
| Levies fiom residents | 90,011 | 90,011 | 91,749 | 91,749 | |||||
| Other incoming resources |
1,229 | 1,229 | 3, 104 | 3,104 | |||||
| Total income | 124,200 | 57 | 124,257 | 123,805 | 57 | 123,862 | |||
| EXPENDITURE | |||||||||
| Costs ofraising funds: | |||||||||
| Investment management |
costs | 6,254 | 6,254 | 5,451 | 5,451 | ||||
| Expenditure on charitable |
activities: | ||||||||
| Light and heat | 1,840 | 1,840 | 1,851 | 1,851 | |||||
| Rates | 723 | 723 | 751 | 751 | |||||
| Insurance | 2,320 | 2,320 | 2,501 | 2,501 | |||||
| Repairs and maintenance |
58,146 | 58,146 | 24,252 | 24,252 | |||||
| Subscriptions | 226 | 226 | 220 | 220 | |||||
| Wages and honorarium | 4 | 27,393 | 27,393 | 26,545 | 26,545 | ||||
| Telephone and care call |
3,906 | 3,906 | 3,398 | 3,398 | |||||
| Printing, stationery and advettising |
84 | 84 | 351 | 351 | |||||
| Gills and parries for residents | and statf | 1,058 | 1,058 | 1,020 | 1,020 | ||||
| Sundry expenses | 670 | 670 | 324 | 324 | |||||
| Depreciation | 32,784 | 35 | 32,819 | 33,028 | 864 | 33,892 | |||
| Audit and examination fees |
1,000 | I,O0O | 1,620 | 1,620 | |||||
| Total expenditure | 136,404 | 35 | 136,439 | 101,312 | 864 | 102,176 | |||
| Net income and net movement | in funds | ||||||||
| before gains and losses on | |||||||||
| investments | 3 | (12,204) | 22 | (12,182) | 22,493 | (807) | 21,686 | ||
| Net gains on investtnent | 71,342 | 7 1.,342 | 547 | 547 | |||||
| Net movement in funds |
for | the | year | 59,138 | 22 | 59,160 | 23,040 | (807) | 22,233 |
| Reconciliation offunds |
|||||||||
| Total funds brought forward | 1,909,036 | 19,108 | 1,928,144 | 1,885,996 | 19,915 | 1,905,911 | |||
| Total funds carried forsvard | 1,968,174 | 19,130 | 1,987,304 | 1,909,036 | 19,108 | 1,928,144 |
| Note | 2021 | 2020 | |||||
|---|---|---|---|---|---|---|---|
| FIXEDASSETS | |||||||
| Tangible assets Investments |
879,808 720,151 |
912,627 638,978 |
|||||
| Total fixed assets | 1,599,959 | 1,551,605 | |||||
| CURRENT ASSETS | |||||||
| Debtors | 1,429 | 2,422 | |||||
| Cash at bank and in | hand | 390,773 | 384,048 | ||||
| Total cmseat assets | 392,202 | 386,470 | |||||
| LIABILITIES: | |||||||
| Creditors; amounts |
falling due | ||||||
| within one year |
4,857 | 9,931 | |||||
| Net Cun ent Assets | 387,345 | 376,539 | |||||
| NET ASSETS | 1,987,304 | 1,928, 144 | |||||
| THE FUNDS OF THE CHARITY | |||||||
| Restricted Funds | 9 | 19,130 | 19,108 | ||||
| Unrestricted Funds |
10 | 1,968, 174 | 1,909,036 | ||||
| Total Charity Funds | 1,987,304 | 1,928, 144 |
| Note | 2021 | 2020 | |||
|---|---|---|---|---|---|
| 6 | |||||
| Net cash provided by/(used |
in) operating | ||||
| activities | 14 | (14,330) | 31,872 | ||
| CASH FLOW FROM INVESTING | ACTIVITIES: | ||||
| Interest and dividends | 18,538 | 17,105 | |||
| Rental income | 12,349 | 11,026 | |||
| Purchase ofinvestments |
(176,819) | (59,342) | |||
| Proceeds trom sale ofinvestments | 166,987 | 37,644 | |||
| Net cash provided by investing activities |
21,055 | 6,433 | |||
| Change in cash and cash equivalents |
in the | year | 6,725 | 38,305 | |
| Cash and cash equivalents | brought | forward | 384,048 | 345,743 | |
| Cash and cash equivalents | carried forward | 390,773 | 384,048 |
| ofthree months or less from the date ofacquisition or openi |
ng ofthe deposit or similar acco | unt. | |
|---|---|---|---|
| INVESTMENT INCOME | 2021 | 2021 | 2021 |
| YEARENDED 31STDECEMBER 2021 | Unrestricted | Restricted | Total |
| Income ffom UK listed investments | 15,890 | 15,890 | |
| Income &om non UK listed invesunents | 2,375 | 2,375 | |
| Bank and other interest | 216 | 57 | '273 |
| UK rental income | 12,349 | 12,349 | |
| 30,830 | 57 | 30,887 | |
| INVESTMENT INCOME | 2020 | 2020 | 2020 |
| YEARENDED 31STDECEMBER 2020 | Unrestricted | Restricted | Total |
| Income from UK listed investments | 14,163 | 14,163 | |
| Income from non UK listed investments | 2,126 | 2,126 | |
| Bank and other interest | 759 | 57 | 816 |
| UK rental income | 11,026 | 11,026 | |
| 28,074 | 57 | 28,131 |
| O THE FINANCIAL STATEMENTS | O THE FINANCIAL STATEMENTS | O THE FINANCIAL STATEMENTS | ||||
|---|---|---|---|---|---|---|
| NET INCOME FOR THE YEAR | 2021 | 2020 | ||||
| The surplus ofincome over expenditure Depreciation oftangible fixed assets |
for the | year is stated atter charging: | 32,819 | 33,892 | ||
| Independent examiner |
fee | 1,000 | 1,620 | |||
| STAFF COSTS | 2021 | 2020 | ||||
| The staff costs were; | ||||||
| Salaries | 27,202 | 26,372 | ||||
| Pension contributions |
191 | 173 | ||||
| 27,393 | 26,545 | |||||
| The average monthly |
number ofstaff employed | by the charity during the year was as follows: | ||||
| 2021 | 2020 | |||||
| Direct charitable | 3 | 3 |
| The Board ofTrustees consider themselves the key manage |
ment and they ar |
e not remunera | ted. | |
|---|---|---|---|---|
| TANGIBLE FIXEDASSETS | Office | Fixtures & | Freehold land |
|
| YEARENDED 31STDECEMBER 2021 | Equipment | Fittings | & buildings | Total |
| VALUATION | ||||
| Balance at 1stJanuary 2021 and 31st December 2021 | 397 | 38,648 | 1,593,156 | 1,632,201 |
| DEPRECIATION | ||||
| Balance at 1stJanuary 2021 | 397 | 37,569 | 681,608 | 719,574 |
| Charge for the year | 956 | 31,863 | 32,8 1.9 | |
| Balance at 31stDecember 2021 | 397 | 38,525 | 7]3,471 | 752,393 |
| NET BOOK VALUE at 31st December 2021 | 123 | 879,685 | 879,808 | |
| TANGIBLE FIXEDASSETS | Office | Fixtures & | Freehold land |
|
| YEARENDED 31STDECEMBER 2020 | Equipment | Fittings | &buildings | Total |
| VALUATION | f, | |||
| Balance at 1st January 2020 and 31st December 2020 | 397 | 38,648 | 1,593,156 | 1,632,201 |
| DEPRECIATION | ||||
| Balance at 1stJanuaiy 2020 | 397 | 35,540 | 649,745 | 685,682 |
| Charge for the year | 2,029 | 31,863 | 33,892 | |
| Balance at 31stDecember 2020 | 397 | 37,569 | 681,608 | 719,574 |
| NET BOOK VALUE at 31stDeceruber 2020 | 1,079 | 911,548 | 912,627 |
| O THE FINANCIAL STATEMENTS | |||
|---|---|---|---|
| INVESTMENTS HELD AS FIXEDASSETS | 2021 | 2021 | 2021 |
| YEAR ENDED 31STDECEMBER 2021 | Land | Securities | Total |
| Market value at 1st January 2021 | 1,250 | 637,728 | 638,978 |
| Additions | 176,819 | 176,819 | |
| Disposals | (166,987) | (166,987) | |
| Net realised losses | 12,127 | 12,127 | |
| Net unrealised gains |
59,214 | 59,214 | |
| Market value at 31stDecember 2021 |
1,250 | 718,901 | 720,151 |
| Cost at 31stDecember 2021 | 1,250 | 505,055 | 506,305 |
| INVESTMENTS HELD AS FIXEDASSETS | 2020 | 2020 | 2020 |
| YEAR ENDED 31STDECEMBER 2020 | Land | Securities | Total |
| Market value at 1st January 2020 | 1,250 | 615,483 | 616,733 |
| Additions | 59,342 | 59,342 | |
| Disposals | (37,644) | (37,644) | |
| Net realised losses | (6,441) | (6,441) | |
| Net unrealised gains |
6,988 | 6,988 | |
| Market value at 31stDecember 2020 | 1,250 | 637,728 | 638,978 |
| Cost at 31stDecember 2020 | 1,250 | 465,463 | 466,713 |
| DEBTORS | 2021 | 2020 | ||
|---|---|---|---|---|
| Due within | Due within | |||
| one year | one year | |||
| Prepayments | and accrued income | 1,429 | 2,422 | |
| CREDITORS | 2021 | 2020 | ||
| Due within | Due within | |||
| one year | one year | |||
| f | ||||
| Accrualsand | deferred | income | 4,857 | 9,931 |
| NOTES | TO THE FINANCIAL | TO THE FINANCIAL | STATEMENTS | ||||
|---|---|---|---|---|---|---|---|
| MOVEMENT | IN RESTRICTED FUNDS | Door | R A]sop | Pavilion | Total | ||
| YEARENDED 3]STDECEMBER 2021 | Fund | Legacy | Fund | 2021 | |||
| f, | |||||||
| Balance at 1st | January | 2021 | 35 | 7,727 | 11,346 | 19,108 | |
| Income | 23 | 34 | 57 | ||||
| Expenditure | (35) | (35) | |||||
| Balance at 31stDecember 2020 | 7,750 | 11,380 | 19,130 | ||||
| YEARENDED 3]STDECEMBER 2020 | Door | RA]sop | Pavilion | Total | |||
| Fund | Legacy | Fund | 2020 | ||||
| 6 | 6 | ||||||
| Balance at 1st | January | 2020 | 899 | 7,704 | 11,3]2 | 19,915 | |
| Income | 23 | 34 | 57 | ||||
| Expenditure | (864) | (864) | |||||
| Balance at 31stDecember 2020 | 35 | 7,727 | 11,346 | 19,108 |
| MOVEMENT IN UNRESTRICTED FUNDS | Balance at | Balance at | |||
|---|---|---|---|---|---|
| YEAR ENDED 31STDECEMBER 2021 | 1st | Expenditure, | 31st | ||
| January | gains and | December | |||
| 2021 | Income | losses | Transfers | 2021 | |
| f, | 6 | ||||
| Revaluation Reserve |
581,334 | (21,531) | 559,803 | ||
| General Funds | 1,327,702 | 124,200 | (65,062) | 21,531 | 1,408,371 |
| 1,909,036 | 124,200 | (65,062) | 1,968,174 | ||
| MOVEMENT IN UNRESTRICTED FUNDS |
Balance at | Balance at | |||
| YEAR ENDED 3]STDECEMBER 2020 | 1st | Expenditure, | 31st | ||
| January | gains and | December | |||
| 2020 | Income | losses | Transfers | 2020 | |
| Revaluation Reserve |
602,865 | (21,531) | 581,334 | ||
| General Funds | 1,283,131 | 123,805 | (100,765) | 21,531 | 1,327,702 |
| 1,885,996 | 123,805 | (100,765) | 1,909,036 |
| ANALYSIS OF FUNDS | Unrestricted | Restricted | Total | Unrestricted | Restricted | Total |
|---|---|---|---|---|---|---|
| 2021 | 2021 | 2021 | 2020 | 2020 | 2020 | |
| Tangible fixed assets | 879,808 | 879,808 | 912,592 | 35 | 912,627 | |
| Investments | 720,151 | 720,151 | 638,978 | 638,978 | ||
| Net current assets | 368,215 | 19,130 | 387,345 | 357,466 | 19,073 | 376,539 |
| 1,968,174 | 19,130 | 1,987,304 | 1,909,036 | ]9,108 | 1,928, 144 |
| RECONCILIATION | OFNET | MOVEMENT | MOVEMENT | IN FUNDS TO NET | ||
|---|---|---|---|---|---|---|
| CASH FLOW FROM | OPERATING ACTIVITIES | 2021 | 2020 | |||
| Net movement in funds |
59,160 | 22,233 | ||||
| Add back depreciation | charge | 32,819 | 33,892 | |||
| Deduct investment income shown |
in investing | activities | (30,887) | (28,131) | ||
| Deduct gains on investments | (71,341) | (547) | ||||
| (Increase)/decrease in |
debtors | 993 | (438) | |||
| Increase/(decrease) in |
creditors | (5,074) | 4,863 | |||
| Net cash provided by |
operating | activities | (14,330) | 31,872 |