2021-12-31-accounts - The Camelia Botnar Foundation

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Registered	Registered	Office and	The Camelia Botnar	The Camelia Botnar	Foundation
Principal	Place ofBusiness		Maplehurst Road
			Cowfol d
			Horsham
			West Sussex
			RH13 8DQ
Trustees			Mr J C Dann (Chair)
			Mr J D Appleton
			Mr G Booth
			Mrs SA Burford-Pugh
Chief Executive			Mr P Yallop
Bankers			National Westminster		Bank pic
			P0 Box367
			Crawley
			West Sussex
			RH10 1FT
Solicitors			PDT Solicitors			H3 Solicitors
			Premier House			1 Oak Place
			36-48 Queen Street			Rosier Business Park
			Hors ham			Coneyhurst	Road
			West Sussex			Bilhngshurst
			RH13 5AD			West Sussex
						RH14 9DE
Charity	Number		1191611
Company		Number	CE024084
Auditors			TC Group
			The Courtyard
			Shoreham Road
			Upper Beeding
			Steyning
			West Sussex
			BN44 3TN
Investment		Managers	Sarasin &Partners	LLP
			Juxon House
			100St Paul's Churchyard
			London
			EC4M 8BU

MELIA B TS	OTNA		R FOUNDATION
				Page
Report ofthe	Trustees
Auditor's Report
Consolidated	statement		offinancial activities		13
Consolidated	balance		sheet		14
Charity balance sheet					15
Consolidated	statement		ofcash flows		16
Notes to the	financial	statements			17

				Unrestricted	Endowment	Total	Total
Income and endowments		from:	Notes	funds F	funds 8	2021 6	2020f
Donations and legacies				97,753		97,753
Other trading activities				1,084,676		1,084,676
Charitable activities				35,949		35,949
Investments				2,432,459	83,918	2,516,377
Total income and	endowments			3,650,837	83,918	3,734,755
~Edit
Raising funds				976,568		976,568
Charitable activities				2017715	77,042	2,094,757
Total expenditure Net gains/(losses)	on investments		15	2,994,283 7,103,129	77,042 (36,333)	3,071 325 7,066,796
Net income/(expenditure)				7,759,683	(29,457)	7,730,226
							79,343,607
Transfer ofassets	and liabilities
Net movement in	funds			7,759,683	(29,457)	7,730,226	79,343,607
Total funds brought forward				76,916,370	2,427,237	79,343,607
Fund balances carried		forward		84,676,053	2,397,780	87,073,833	79,343,607

						2021		2020
				Notes
Fixed assets
Tangible assets Investments				14 15		5,985,224 78,821,717		6,439,071 70,707,752
						84,806,941		77,146,823
Current assets
Stocks				17	200,503		179,055
Debtors				18	187,172		153,427
Cash at bank	and	in	hand		2,260,018		2,176,137
					2,647,693		2,508,619
Creditors: amounts			falling due within	19	(373,183)		(302,143)
one year
Net current	assets					2,274,410		2,206,476
Provisions for liabilities				25		(7,618)		(9,692)
Total assets	less	current liabilities				87,073,833		79,343,607
Funds
Endowment	funds					2,397,780		2,427,237
Unrestricted	funds					84,676,053		76,916,370
Total funds				21		87,073,833		79343,607

						2021		2020
				Notes
Fixed assets
Tangible assets Investments				14 15		5285 127 79,451,662		5,741,575 71,303,226
						84,736,789		77044 801
Current assets
Debtors				18	256,716		294,062
Cash at bank	and	in	hand		2,118,827		2,019,923
					2,375,543		2,313,985
Creditors: amounts within one year			falling due	19	(270,720)		(202,507)
Net current	assets					2,104,823		2,111,478
Total assets	less	current liabilities				86,841,612		79,156,279
Funds				21
Endowment	funds					2,397,780		2,427,237
Unrestricted	funds					84,443,832		76,729,042
Total funds						86,841,612		79,156,279

				Notes	2021f	2020 f
Reconciliation of net income/(expenditure)			to net cash
flow from operating activities
Net income/(expenditure) for the reporting		period (as per the			7,730,226
Statement of Financial Activities)
Adjustment for:
Transfer ofnet assets from Camelia	Botnar Foundation					2,176,137
Depreciation charges				14	42,107
Gains/(losses) on investments				15	(7,354,708)
Loss/(profit) on disposal oftangible	fixed		assets	8	(34,537)
(Increase)/decrease in stocks				17	(21,448)
(Increase)/decrease in debtors				18	(33,745)
Increase/(decrease) in creditors				19	71,040
Dividends, interest and rents from investments				4	(2,516,377)
Increase/(decrease) in provisions				25	(2,074)
Net cash used in operating activities					(2,119,516)	2,176,137
Cash flows from investing activities:
Dividends, interest and rents from investments					2,516,377
Proceeds from the sale of tangible fixed			assets		34,573
Purchase oftangible fixed assets				14	(201,387)
Proceeds from the sale of investments				15	3,191
Purchase ofinvestments				15	(149,357)
Net cash provided by investing activities					2,203,397
Change in cash and cash equivalents period		in	the reporting		83,881	2,176,137
Analysis of net cash			At1 Jan	Cash flow	Non-cash	At 31 Dec
			2021		changes	2021
Cash at bank and in hand			2,176,137	83,881		2,260,018

		Total	Total
		2021	2020
Turnover		1,072,676
Cost ofsales		(810,753)
Gross profit		261,923
Administrative	expenses	(195,835)
Investment income
Other operating	income	12,000
Net profit/(loss)	for the year	78,088
Taxation		1,177
Retained earnings		79,265

Investment in	co	me
			Group		Charity
			2021	2020	2021	2020
Unrestricted
Dividends receivable		from quoted equities	1,529,652		1,529,652
Interest receivable	from Fixed Asset Interest Stocks		423,482		423,482
			1,953,134		1,953,134
Interest receivable			442		442
Rents receivable			478,883		538,883
			2,432,459		2,492,459
Endowment fund
Interest receivable			83,918		83,918
			2,516,377		2,576,377

			Endowment for Investmentf	Unapplied Total Return 5	Total Endowment
Opening value ofendowment
Gift component of permanent			2,100,000		2,100,000
Unapplied	total return			327,237	327,237
Total			2,100,000	327,237	2,427,237
Movement in	year:
Investment	return —dividends	and interest		83,918	83,918
Investment return —realised gains/(losses)		and unrealised		(36,333)	(36,333)
Total				47,585	47,585
Unapplied total return expended				(77,042)	(77,0420
Net movement	in the reporting	period		(29,457)	(29,457
Closing value	ofpermanent endowment
Gift component of permanent			2,100,000		2,100,000
Unapplied	total return			297,780	297,780
Total:			2,100,000	297,780	2,397,780

Total expenditure	Total expenditure
		Staff	Depreciation	Grants	Other	Total	Total
		costs 5	8	Paid	Costs 5	2021f	2020 F
Raising Funds
Commercial trading fundraising	and		14,233		613,346	527,579
Investment management fees					348,989	348,989
Total raising funds			14,233		962,335	975,558
Charitable Activities
Activities undertaken directly		1,396,773	27,674	178,042	374,319	1,977,008
Support costs					117,749	117,749
Total charitable activities		1,396,773	27,874	178,042	492,066	2,094,757
Total Expenditure		1,396,773	42,107	t78,042	1,454,403	3,071,325

			Total	Total
			2021	2020
Print, post and stationery			2,774
Accountancy			14,104
Advertising			1,494
Legal and professional		fees	38,257
Travel and subsistence			385
Motor expenses			11,250
Telecommunication	costs		17,073
(Profit)/Loss on disposal offixed assets			(34,537)
Bank charges			1,524
Sundry			51
Computer consumables			3,070
Subscriptions			1,075
Health &safety			10,819
Trainee bursary			38,000
Governance (note	9)		12,300
			117,749

9	Governance	costs
				2021	2020
	Audit fees			12,300
				12,300
10	Grants payable
			Grants to Institutions	2021	2020
	Educational	grants	77,042	77,042
	Other grants		101,000	101,000
			178,042	178,042

Staffcosts
						2021	2020
Wages and salanes						1,129,924
Social security costs						89,501
Other pension costs						97,624
Staff training and welfare costs						43,035
Personnel and recruitment	costs					36,689
						1,396,773
Average number ofemployees			during	the year
						2021	2020
						Number	Number
Charitable activities:
Management						43
Manufacturing						12
						55
Emoluments for employees		excluding		pension	contribution
Ft00,001 —Ft10,000
The highest paid employee contributions wasft5,000	accrued benefits under (2020. ENil).				pension schemes.	The cost to the charity ofthis	employee's

		2021f
Wages	and salaries	105,000
Benefits	in kind	936
Social security costs		13,125
Other pension costs		15,000
		134,061

					Unrestricted	Endowment	Total	Total
					funds	funds	2020	2019
Income and endowments			from:	Notes	5		5	F
Donations and legacies
Other trading activities
Charitable activities
Investments
Total income and	endowments
~Ed t
Raising funds
Charitable activities
Total expenditure
Transfer ofassets	and liabilities				76,916,370	2,427,237	79,343,607
Net income lmovement		in	funds		76,916,370	2,427,237	79,343,607
Total funds brought	forward		at
1 January 2020
Fund balances at	31 December			2020	76,916,370	2,427,237	79,343,607

14 Tangible fixed assets
Charity	Freehold land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
		6			f
Cost
At beginning ofyear	5,646,270	290,370	273,181	165,488	6,375,309
Additions	111,161	11,524	5,712	55,540	183,937
Transfer to investment property	(610,000)				(610,000)
Disposals		(6,677)	(1,040)	(45,474)	(53,191)
At end ofyear	5,147,431	295,217	277,853	175,554	5,896,055
Depreciation
At beginning ofyear		285,531	196,737	151,466	633,734
Provided during the		2,025	15,344	10,505	27,874
year
On disposals		(6,677)	(1,040)	(42,963)	(50,679)
At end ofyear		280,879	211,041	119,008	610,928
Net Book Value
At 31 December 2021	5,147,431	14,338	66,812	56,546	5,285,127
At 31 December 2020	5,646,270	4,839	76,444	14,022	5,741,575

	Freehold land	Plant and	Fixtures and	Motor	Total
Group	and buildings	machinery	fittings	vehicles
	f	F	6	5
Cost
At beginning ofyear	6,306,270	547,790	273,181	176,738	7,303,979
Additions	111,161	28,974	5,712	55,540	201,387
Transfer to investment property	(610,000)				(610,000)
Disposals		(8,844)	(1,040)	(45,474)	(55,358)
At end ofyear	5,807,431	567,920	277,853	186,804	6,840,008
Depreciation
At beginning ofyear		505,456	196,737	162,715	864,908
Provided during the		16,258	15,344	10,505	42,107
year
On disposals		(6,229)	(1,040)	(42,962)	(52,231)
At end ofyear		513,485	211,041	130,258	854,784
Net Book Value
At 31 December 2021	5,807,431	54,435	66,812	56,546	5,985,224
At 31 December 2020	6,306,270	42,334	76,444	14,023	6,439,071

15 Investments	15 Investments	15 Investments
					Group		Charity
				2021		2020	2021	2020
At beginning		ofthe year		70,707,752			71,303,226
Transferred		from Camelia	Botnar Foundation			70,707,752		71,303,226
Additions				149,357			149,357
Transferred		from tangible	fixed assets	610,000			610,000
Disposals	at opening fair value			(100)
Unreahsed		investment gains/(losses)		7,354,708			7,389,079
At the end		ofyear		78,821,717		7p 7p7 752	79,451,662	71,303,226
Quoted investments
UK equities		and unit trusts		56,803,036		52,179,861	56,803,036	52,179,861
UK fixed interest stock				5,997,527		6,166,216	5,997,527	6,166,216
Overseas	investments			3,961,891		3,993,726	3,961,891	3,993,726
				66,762,454		62,339,803	66,762,454	62,339,803
Unquoted		UK equities		807,000		807,100	807,000	807,000
Investment		in subsidiary	undertaking				50,000	50,000
Investment		properties		11,252,263		7,560,849	11,832,208	8,106,423
				78,821,717		70,707,752	79.451,662	71,303,226

16 Investment	properties	properties
			Group	Charity
Cost or valuation
At beginning of	the year		7,560,849	8,106,423
Transfer from tangible		fixed assets	610,000	610,000
Revaluation			3,081,414	3,115,785
At end ofyear			11,252,263	11,832,208
Fair value
At 31 December 2021			11,252,263	11,832,208
At 31 December	2020		7,560,849	8,106,423

tock
			Group		Charity
				f
			2021	2020	2021	2020
Stock			200,503	179,055
Debtors
			Group		Charity
				E
			2021	2020	2021	2020
Trade debtors			15,988	5,118	8,030
Amount due from subsidiary		undertaking			84,501	152,561
Other debtors			59,558	57,798	59,558	57,798
Prepayments			72,379	51,981	65,380	45,173
Accrued income			39,247	38,530	39,247	38,530
			187,172	153,427	256,716	294,062
Creditors: amounts	falling due within one year
			Group		Charity
			2021	2020 F	2021 F	2020f
Trade creditors			115,097	87,398	82,565	42,855
Other taxes and social security costs			58,243	50,628	36,394	32,414
Other creditors			61,734	70,894	61,735	68,098
Accruals and deferred	income		138,109	93,223	90,026	59,140
			373,183	302,143	270,720	202,507

20	Deferred in	come
								Charity	&Group
								2021f		2020f
	At 1 January	2021						51,170
	Additions during		the year					78,086
	Amounts released			to income				(51,170)
	Transferred	from	Camelia Botnar		Foundation					51,170
	At 31 December		2021					78,086		51,170
21	Fund reconciliation
	Group				At 1 January 2021	Net income 6	Gains/(tosses) f	Transfers 6		At 31 December 2021f
	OMC Endowment			fund	2,427,237	6,876	(36,333)			2,397,780
	Unrestricted fund	accumulated			76,916,370	656,554	7,103,129			84,676,053
					79,343,607	663.430	7,066,796			87,073,833
	Charity				At 1January 2021	Net income 5	Gains 6	Transfers 6		At 31 December 2021
					6					6
	OMC Endowment			fund	2,427,237	6,876	(36,333)			2,397,780
	Unrestricted fund	accumulated			76,729,042	577,289	7,137,501			84,443,832
					79,156,279	584,165	7,101,168			86,841,612

Analysis ofassets bet	ween funds
		OMC	Unrestdicted	Total
		endowment	accumulated	2021
		fund	fund
		5	5
Fund balances for the	group as at 31 December
2021 were represented	by:
Tangible fixed assets			5,985,224	5,985,224
Investments		2,304,450	76,517,267	78,821,717
Current assets		93,330	2,554,363	2,647,693
Current liabilities			(373,183)	(373,183)
Provisions for liabilities			(7,618)	(7,618)
Total net assets		2,397,780	84,676,053	87,073,833

Provision m	ovemen	ts in th	e year are as f	ollows:
				Group		Charity
				2021 f.	2020	2021f	2020f
Provisions	brought	forward		9,692
Charge against provision			in year	(2,074)
Transferred Foundation	from Camelia		Botnar		9,692
Provisions	carried	forward		7,618	9,692