2021-03-31-accounts

			INDEX
				Page
Trustees
Advisors
Report ofthe Trustees				3to6
Report ofthe Independent		Auditors		7and8
Statements	of Financial Activities
Balance Sheet				10
Notes to the	Financial Statements			11to 17

Advisors forthe ye	ar ended 31	March 2021
OFFICE			Unit 6, 17Leyton Road
			Harpenden
			Hertfordshire AL5 2HY
ADMINISTRATION	Foundation	Manager	Mrs. P.Whiting
	Foundation	Associate	Ms. F. Brown
AUDITORS			David M.Ress &Associates		Limited
			Well Cottage
			Cucumber Lane
			Essendon
			Hertfordshire AL96JB
SOLICITORS			SA Law
			Gladstone Place
			36-38Upper Marlborough	Road
			StAlbans
			Herffordshire AL1 3UU
			Debenhams Ottaway
			107StPeter's Street
			StAlbans
			Herffordshire AL1 3EW
BANKERS			CAF Bank Ltd
			25 Kings Hill Avenue
			Kings Hill
			West Mailing
			Kent ME194JQ
PROPERTYMANAGEMENT			HO2 (Brighton) Ltd
			5 Pavilion Mews
			Church Street
			Brighton
			East Sussex BN1 1GX
BUILDING SURVEYOR			Evans &Crawley
			Bridge House
			Water Meadow
			Chesham
			Buckinghamshire HP5 1LF

					Notes	2021		2020
UNRESTRICTED FUNDS -	General	funds	for	distribution
Income
Donations					2		2,500		335
Investment income
Properly income —Rent							316,031		308,883
	Commission						2,897		2,390
Recoverable costs —	Insurance						15,669		14,520
	Professional fees						1,025		1,100
	Grounds	maintenance					1,750		1,750
Dividends and interest					3		37,064		33,358
Total Income							376,936		362,336
Expenditure
Costs ofgenerating funds
Property expenditure						22,080		17,414
Property management						23,413
Investment management						628
						46,121		40,954
Expenditure on charitable activities
Grants awarded to individuals in the year						165,853		138,544
Grants for awards in earlier	years (2020:prior			to CIO)		-26,764		-12,016
						139,089		126,528
Olfice expenses						31,427		26,135
Support costs						36,926		31,939
						207,442		184,602
Total expenditure							253,563		225,556
Net income and net income in unrestricted				funds
before gains and losses	on investments						123,373		136,780
Surplus/delicit on revaluation	ofinvestment						79,861		6,242
NET MOVEMENT IN UNRESTRICTED FUNDS
FORTHE YEAR							203,234		130,538
Unrestricted funds at 1 April	2020						636,506		505,968
Total unrestricted funds at 31 March		2021					839,740
RESTRICTED FUNDS
Restricted funds at 1 April 2020							5,594,951		5,615,705
Surplus/deficit on revaluation	of investment		properties		10		325,000		0
Surplus/deficit on revaluation	of investment				11		128,110		-20,754
Total restricted funds at 31 March 2021							6,048,061		5,594,951

	Notes	2021			2020
FIXEDASSETS		f
Investment properties	10	5,300,000		4,975,000
Investment	11	1,214,388		1,006,417
Tangible fixed assets	12	590		1,445
Total fixed assets			6,514,978			5,982.862
CURRENTASSETS
Debtors and prepayments	13	22,507		17,775
Short term deposits		445,316		275,308
Cash at bank		13,361		6,381
Total current assets		481,184
LIABILITIES
Creditors: amounts falling due within one year	14	-108,361
Net current assets			372,823			248,595
TOTAL NET ASSETS			6,887,801			6,231,457
RESTRICTED FUNDS	15		6,048,061			5,594,951
UNRESTRICTED FUNDS	15		839,740			636,506
TOTALFUNDS			6,887,801			6,231,457

	NOTE	S T	O	THE	FINANCIAL	STATEMENTS	AT 31 MARCH 2021
2.	DONATIONS
	The Foundation gratefully		received a donation			from a previous	beneficiary.
3.	INVESTMENT INCOME						2021	2020
	Interest							f
	National Savings and Investment				Income Bond		1,572	3,513
	CAF Bank Deposit account						21	192
	Nationwide Business Saver			account			1	0
	Total interest on cash	deposits					1,594	3,705
	Dividends
	COIF Charities Investment			Fund	Income Units		35,470	29,653
	Total investment income						37,064	33,358
4.	PROPERTY EXPENDITURE						2021	2020
								E
	Repairs and maintenance						1,143	-2,209
	Insurance						15,807	14,521
	Grounds maintenance						2,746	2,611
	VAT partial exemption	- VAT not			recoverable		2,384	2,491
							22,080	17,414
5.	PROPERTYMANAGEMENT						2021	2020
								F
	Management fees						16,747	15,706
	Legal and professional	fees					2,895	1,845
	Office expenses —6%	(2020-10%)(Note 6)					3,771	5,445
							23,413	22,996
6.	OFFICE EXPENSES						2021	2020
							f
	Building maintenance	and	water				157	157
	Rates						379	373
	Printing &stationery						778	787
	Postage and sundries						716	832
	Staff salary						45,667	46,358
	ITdevelopment and support						7,717	865
	Charity insurance						284	392
	Light, heat &telephone						1,254	1,151
	Bank charges						-3	88
	Depreciation						855	854
	Publicity						369	1,345
	Refurbishment ofgravestone						2,882	0
	VAT partial exemption	—VAT not			recoverable		1,798	1,246
							62,853	54,448

OFFICE EXPENSES Continued	OFFICE EXPENSES Continued	OFFICE EXPENSES Continued	OFFICE EXPENSES Continued
Allocated on the		basis ofstaff time as follows:		2021	2021	2020	2020
					F
Properties				6	3,771	10	5,445
Grants				50	31,427	48	26,135
Governance				43	27,027	41	22,324
Investments				I	628	1
				100	62,853	100
SUPPORT	COSTS				2021		2020
					F		6
Governance	and	support costs
Office expenses		—43%(2020-41%)(Note 6)			27,027		22,324
Auditor's remuneration Auditor's fees for other services					4,200 3,428		3,000 3,000
Legal fees					997		2,094
Training, meetings and other costs					4&4		731
Trustees insurance					790		790
					36,926		31,939
ANALYSIS	OFSTAFF COSTS AND REMUNERATION			OF KEY	MANAGEMENT	PERSONNEL
					2021		2020
Salaries					44,269
Employers	National		Insurance		314		710
Pension costs					1,084		1,160
					45,667

		Restricted	Unrestricted	Total
11.	FIXEDASSETS INVESTMENT Movement in Fixed Asset investment	Funds	Funds f	Investment K
	Market value at 1 April 2020	619,951	386,466	1,006,417
	Net surplus on revaluation	128,110	79,861	207,971
	Market value at 31 March 2021	748,061	466,327	1,214,388

	trade atcos	t (that is their transaction value).	t (that is their transaction value).
12.	TANGIBLE	FIXEDASSETSfor use by the charity		Office and Estate ~Et
	Cost
	At 1 April 2020			2,299
	Additions			0
	At 31 March	2021		2,299
	Depreciation
	Accummulated depreciation		at 1 April 2020	854
	Charge for the year			855
	Accumulated	depreciation	at 31 March 2021	1,709
	Net Book Value
	As at 1 April	2020
	Movement	in year
	At 31 March	2021

	NO	TE	S TOTHE FINA	NCIAL STATEMENTS	AT 31 MARCH	2021
13.	DEBTORS				2021		2020
					k		E
	Accrued Income —rent, interest and dividends			receivable	18,686		9,179
	Prepayments				1,104		6,775
	VAT recoverable				2,717		1,821
					22,507		17,775
14.	CREDITORS AMOUNTS		FALLING DUE	WITHIN ONE YEAR	2021		2020
					F
	Auditor's fees				4,000
	Holiday pay accrual				1,340		778
	Overtime and bonus accrual				0		4,282
	Professional fees				4,500		5,500
	Office costs and other unpaid		invoices		5,984		2,982
	Tenants rent and charges	in	advance		39,935		1,500
	Grants to be paid				40,592		29,827
	VAT - Customs &Excise				12,010		0
					108,361
15.	MOVEMENT ON FUNDS
					1 April	Current	31 March
					2020	Year	2021
					E	F	F
	Restricted fund				5,594,951	453,110	6,048,061
	Unrestricted fund				636,506	203,234	839,740
	Total funds				6,231,457	656,344	6,887,801
					Restricted	Unrestricted	31 March
	ANALYSIS OF NETASSETS BYFUND AT31 MARCH 2021				Funds	Funds	2021
					6
	Investment properbes				5,300,000	0	5,300,000
	Investment				748,061	466,327	1,214,388
	Tangible fixed assets				0	590	590
	Debtors and prepayments				0	22,507	22,507
	Short term deposits				0	445,316	445,316
	Cash at bank				0	13,361	13,361
					6,048,061	948,101	6,996,162
	Creditors and accruals					-108,361	-108,361
					6,048,061	839,740	6,887,801