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||||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|
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|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|||
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||||||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|
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||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|
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||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|
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|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|||
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|||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|||
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||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|
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