2020-12-31-accounts

			Page
Trustees' report			1-4
Independent examiner's		report
Statement offinancial	activities
Balance sheet
Notes to the financial	statements		8-17

					Unrestricted	Unrestricted
					funds	funds
					2020	2019
				Notes		f
Income and endowments			from:
Donations and	legacies				8,099	8,743,000
Investments					109,312	9,812
Other income						2,185,520
Total income					117,411	10,938,332
Ex enditure on:
Raising funds					49,577	6,805
Charitable activities					767,674	589,129
Trading subsidiary		loan write off			150,000
Total resources expended					967,251	595,934
Net gains/(losses)		on investments		12	1,642,639	240,099
Net incoming	resources				792,799	10,582,497
Other recognised		gains and losses
Other gains or	losses			13		(52)
Net movement	in funds				792,799	10,582,445
Fund balances	at 1 January		2020		10,589,572	7,127
Fund balances	at	31 December 2020			11,382,371	10,589,572

				2020	2019
			Notes
Fixed assets
Tangible assets			14	448,019	454,316
Investments			15	10,008,828	7,249,861
				10,456,847	7,704,177
Current assets
Debtors			16	594,902	613,744
Cash at bank and	in	hand		354,310	2,354,823
				949,212	2,968,567
Creditors: amounts		falling due within
one year			17	(23,688)	(83,172)
Net current assets				925,524	2,885,395
Total assets less	current liabilities			11,382,371	10,589,572
Income funds
Unrestricted funds				11,382,371	10,589,572
				11,382,371	10,589,572

3	Donations	and legacies	and legacies					(Continued)
	Grants receivable		for core activities
	Government	grants	—Coronavirus		job retention	scheme	8,099
							8,099
4	Investments
							Unrestricted	Unrestricted
							funds	funds
							2020f	2019 f
	Dividend income						68,781	6,532
	Interest receivable						40,531	3,280
							109,312	9,812
5	Other income
							2020f	2019f
	Gift Aid receivable							2,185,520
6	Raising funds
							Unrestricted	Unrestricted
							funds	funds
							2020f	2019f
	Investment	management		fees			49,577	6,805
							49,577	6,805

			2020	2019
				E
Staff costs			79,770	139,213
Depreciation			11,739	1,455
Training, recruitment	and other staff costs		560	7,716
Telephone, postage	and stationery		4,616	3,590
Computer and software			5,274	1,639
Advertising and marketing			281	2,692
Rent and rates			3,882	7,650
Motor and travel			5,325	2,293
Insurance			4,174	1,891
Sundries			188	241
Social media consultancy			600	4,680
Premises expenses			12,866	1,057
Bank charges			93	75
Memberships and subscriptions			420	419
Loss on disposal of	tangible	fixed assets	290
			130,078	174,611
Grant funding of activities (see note 8)			615,842	365,596
Share ofsupport costs (see		note 9)	13,870	38,114
Share ofgovernance	costs	(see note 9)	7,884	10,808
			767,674	589,129
Grants payable
			2020	2019
			F	E
Grants to institutions:
Other			607,687	345,603
Grants to individuals			8,155	19,993
			615,842	365,596

9	Support costs	Support costs
			Support	Governance	2020	Support	Governance	2019
			costs	costs		costs	costs
				E	f	P
	Consultancy	fees	2,054		2,054	5,597		5,597
	Professional	fees	11,816		11,816	32,517		32,517
	Legal fees			398	398		3,900	3,900
	Accountancy	fees		4,586	4,586		2,908	2,908
	Audit fees			2,900	2,900		4,000	4,000
			13,870	7,884	21,754	38,114	10,808	48,922
	Analysed between
	Charitable activities		13,870	7,884	21,754	38,114	10,808	48,922

The average monthly number ofemployees during	the year was:
	2020	2019
	Number	Number
Employment costs	2020f	2019
Wages and salaries	62,237	118,396
Social security costs	10,819	13,959
Other pension costs	6,714	6,858
	79,770	139,213

	pension cos	ts) wer	e:
				2020	2019
				Number	Number
	f60,001 - f70,000			1	1
12	Net gains/(losses)		on investments
				2020	2019
					E
	Revaluation	of investments		1,642,639	240,099
13	Other gains	orlosses
					Unrestricted
					funds
					2019
					F
	Foreign exchange		gains		52

14	Tangible fixed assets
			Freehold	land	Fixtures	and	Computer	Total
			and buildings		fittings		equipment
	Cost
	At 1 January 2020		452,419			606	2,759	455,784
	Additions				2,288		3,444	5,732
	Disposals						(435)	(435)
	At 31 December 2020		452,419		2,894		5,768	461,081
	Depreciation and impairment
	At 1 January 2020			754		139	575	1,468
	Depreciation charged	in the year	9,048			940	1,751	11,739
	Eliminated in respect ofdisposals						(145)	(145)
	At 31 December 2020		9,802		1,079		2,181	13,062
	Carrying amount
	At 31 December 2020		442,617		1,815		3,587	448,019
	At 31 December 2019		451,665			467	2,184	454,316
15	Fixed asset investments
					Listed		Other	Total
				investments		investments
						F
	Cost or valuation
	At 1 January 2020 8 31 December 2020				7,249,859		2	7,249,861
	Carrying amount
	At 31 December 2020				7,249,859		2	7,249,861
	At 31 December 2019				7,249,859		2	7,249,861
							2020	2019
	Other investments comprise:				Notes		E	K
	Investments in subsidiaries

16	Debtors
					2020	2019
	Amounts falling due		within	one year:
	Amounts owed	by subsidiary		undertakings	590,495	602,173
	Other debtors					10,244
	Prepayments and accrued income				4,407	1,327
					594,902	613,744
17	Creditors: amounts		falling due within one year
					2020f	2019
	Other taxation	and social security			2,575	6,939
	Trade creditors				4,605	54
	Other creditors					374
	Accruals and deferred		income		16,508	75,805
					23,688	83,172

Analysis ofnet assets between funds
		Unrestricted	Total	Total
		2020	2020	2019
		E		F
Fund balances at 31 December 2020 are represented	by:
Tangible assets		448,019	448,019	454,316
Investments		10,008,828	10,008,828	7,249,861
Current assets/(liabilities)		925,524	925,524	2,885,395
		11,382,371	11,382,371	10,589,572

under non-cancellable operating leases, which fall due a	s follows:
	2020f	2019
Within one year	4,304	4,304
Between two and five years	7,889	12,193
	12,193	16,497

Name ofundertaking	Name ofundertaking	Name ofundertaking	Registered	Registered	Nature of	Nature of	business	Class of	% Held
			office					shares held	Direct Indirect
Welland	Retail	Limited	Craftsman		Fundraising		cafe	Ordinary	100.00
			House De Salis					share
			Drive, Hampton
			Lovett,
			Droitwich,
			England,	WR9
			OQE
Welland	Residential		Craftsman		Residential		Property	Ordinary	100.00
Holdings	Limited		House De Salis					share
			Drive, Hampton
			Lovett,
			Droitwich,
			England,	WR9
			OQE
The aggregate		capital and reserves and the result for the year of subsidiaries						was as follows:
Name ofundertaking			Profit/(Loss)			Capital	and
						Reserves
							K
Welland	Retail	Limited		72,168		(48,612)
Welland	Residential
Holdings	Limited			(15,645)		(29,335)