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##
|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|
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|||||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|
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|||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|
##
|7|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|2020
F|
|---|---|---|---|
|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|||
##