2020-12-31-accounts - The Barnes Fund

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			Page
Report ofthe Trustee		I	to	23
Report ofthe Independent Auditors		24	to	26
Statement ofFinancial	Activities		27
Balance Sheet			28
Income and expenditure	account		29
Cash Flow Statement			30
Notes to the Cash Flow	Statement		31
Notes to the Financial Statements		32	to	47
Detailed Statement ofFinancial Activities		48	to	49

					for the year ended 3	1December 2020
Net	income and capital growth			during	2020 were as follows:
						Yield	Capital	Total
							Growth	Return
	CCLA COIF Charities		Investment		Fund	2.97''o	6.4o/o	9.78'/o
						(20193.09/o)
	M&G Charifund	Units				4.88'/o	-17.35o/o	-12.89'/o
						(20195.01/o)
	M&G Charity Multi Asset			Fund Units		4.19'/o	-7.47'/o	-3.18'/o
						(20193.87/o)

Michael	FISH (family member connected there); Churches	FISH (family member connected there); Churches	Together	Together	Barnes representative	Barnes representative	(regarding	(regarding
Murison	discretiona ants to Churches ofBames	.
Debbie	Churches Together in Barnes representative	(regarding		discretionary		grants to Churches		ofBarnes); active
Ferreira	member ofHoly Trinity, Bames, the Landlord of		the Castelnau		Centre Project, regarding			the Castelnau
	Centre Pro'ect a lication.
Nicolas	Trustee at Castelnau Centre Project.
Tiffou
Aphra	Trustee Castelnau Centre Project, Orange Tree Theatre			(family	member connection),		Barnes Music Festival
Brand reth	(famil member connection)
Carolyn	OffThe Record (extended family member	connected there)
Ram ton

			f	or the year ende	d 31December	2020
							2020	2019
				Unrestricted	Restricted	Endowment	Total	Total
				funds	fund	funds	funds	funds
			Notes
INCOME AND
ENDOWMENTS	FROM
Donations and legacies				370			370	125
Charitable activities
Almshouses				368,859			368,859	341,1]8
Leasehold Bungalows				18,993	5,000		23,993	26,646
Investment income			3	328,280			328,280	334,587
Total				716,502	5,000		721,502	702,476
EXPENDITURE	ON
Charitable activities			5
Grants				441,038			441,038	309,273
Almshouses				341,936		5,049	346,985	403,646
Leasehold Bungalows				16,986	1,248		18,234	56,182
Total				799,960	1,248	5,049	806,257	769,101
Net gains on investments				110,164		318,012	428,176	1,572,727
NKT INCOME				26,706	3,752	312,963	343,421	1,506,]02
Other recognised	gains/(losses)
Gains on revaluation		offixed
assets
Net movement in	funds			26,706	3,752	312,963	343,421	1,506,102
RECONCILIATION		OFFUNDS
Total funds brought		forward		3,882,616	5,398	9,277,619	13,165,633	11,659,531
TOTAL FUNDS	CARRIED
FORWARD				3,909,322	9,150	9,590,582	13,509,054	13,165,633

THE B	AR	NES FUND	and linked charity, THE WALSINGHA	M LODGE TRUST
			Balance Sheet
			31December 2020
				2020	2019
			Notes
FIXEDASSETS
Tangible assets			14	1,431,985	1,460,877
Investments
Investments			15	11,019,237	10,628,815
Investment property			16	621,000	621,000
				13,072,222	12,710,692
CURRENT ASSETS
Debtors			17	42,827	73,016
Cash at bank and in hand				464,672	455,597
				507,499	528,613
CREDITORS
Amounts falling due within		one year	18	(70,667)	(73,672)
NET CURRENT ASSETS				436,832	454,941
TOTAL ASSETSLESS	CURRENT
LIABILITIES				13,509,054	13,165,633
NET ASSETS				13,509,054	13,165,633
FUNDS			20
Unrestricted funds				3,909,322	3,882,616
Restricted funds				9,150	5,398
Endowment funds				9,590,582	9,277,619
TOTAL FUNDS				13,509,054	13,165,633
The financial statements	were approved		by the Board of Trustee and authorised	for issue on .....................................h2- I ('4 W~~
and were signed on its behalf by:

					2020	2019
				Notes
Turnover				12	392,852		367,764
Less: operating costs					(365,223)		(459,830)
Operating surplus/(deficit)					27,629		(92,066)
Investment income
Ground rent					355	355
Interest receivable and other income					328,295	334,357
Unrealised gain/(loss) on		investment		assets	142,308	325,214
Realised gain/(loss)	on investment		assets		(17,772)
Charitable Expenditure					(441,033)	(309,272)
					12,153		350,654
Surplus for the year					39,782		258,588
Less; (see movement in funds		—note 20)
Net permanent endowment		movement
in funds					5,049	5,049
Net restricted movement in funds					(3,752)	29,535
Net designated movement		in funds			61,427	205,220
Transfers to designated funds					(51,317)	1,772,567
					11,407		2,012,371
Net reduction in revenue	reserve
(unresnicted income)					51,189		2,270,959
Revenue reserve brought	forward				2,685,937		414,978
Revenue reserve carried	forward				2,737,126		2,685,937
Being:
Main fund					2,365,820		2,353,536
Wals ingham Lodge					371,306		332,401
					2,737,126		2,685,937
All the funds results are classed as continuing. Approvedby the boardofthe Trustee on ......(Q....Q+~ and signed on their behalf by:

		for the year ended 3	1December 2020
			2020	2019
		Notes		f
Cash flows from operating activities Cash generated from operations			~24,659)	~80,110)
Net cash used in operating	activities		~24,659)	~80,110)
Cash flows from investing	activities
Purchase oftangible fixed assets			(2,147)
Purchase offixed asset investments			(950,450)	(275,778)
Sale offixed asset investments			988,204
Interest received			3,176	4,330
Net cash provided by/(used	in) investing	activities	38,783	~271,448)
Cash flows from financing Expenditure attributable to	activities endowment		~5,049)	~5,049)
Net cash used in financing	activities		~5,049)	~5,049)
Change in cash and cash equivalents		in the
reporting period			9,075	(356,607)
Cash and cash equivalents	at the beginning
ofthe reporting period		2	455,597	812,204
Cash and cash equivalents	at the end	ofthe
reporting period		2	464,672	455,597

		Notes to the Cash Flow Statement for the year ended 31December 2020	Notes to the Cash Flow Statement for the year ended 31December 2020	Notes to the Cash Flow Statement for the year ended 31December 2020	Notes to the Cash Flow Statement for the year ended 31December 2020
RECONCILIATION		OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
				2020	2019
Net income for the	reporting		period (as per the Statement of Financial
Activities)				343,421	1,506,102
Adjustments for:
Depreciation charges				31,039	21,780
Gain on investments				(428,176)	(1,572,727)
Interest received				(3,176)	(4,330)
Expenditure attributable		to endowment		5,049	5,049
Decrease/(increase)	in	debtors		30,189	(49,991)
(Decrease)/increase	in	creditors		(3,005)	14,007
Net cash used in operations				~24,659)	~80,110)
ANALYSIS OF CASH AND			CASH EQUIVALENTS
				2020	2019
Cash in hand				300	300
Notice deposits (less than 3 months)				464,372	455,297
Total cash and cash	equivalents			464,672	455,597
ANALYSIS OF CHANGES IN NET FUNDS
			At 1.1.20	Cash flow	At31.12.20
Net cash
Cash at bank and in	hand		455,597	9,075	464,672
Total			455,597	9,075	464,672

property	within	note 13
			Useful economic
			life
			(years)
Structure			100
Roof			60
Heating			25
Windows	and	doors	28
Electrical			25
Bathroom			20
Kitchen			20

INVESTMENT IN	COME
				2020	2019
Investment properly	income			355	355
Dividends receivable				324,749	329,902
Deposit account interest				3,176	4,330
				328,280	334,587
INCOME FROM CHARITABLE ACTIVITIES
				2020	2019
		Activity
Rent and maintenance
contributions receivable		Almshouses		349,916	332,912
Other income		Almshouses		(586)	859
Cost recharge		Almshouses		19,529	7,347
Rent and maintenance
contributions receivable		Leasehold	Bungalows	24,082	26,516
Other income		Leasehold	Bungalows	(89)	130
				392,852	367,764

			Grant
			funding of
			activities	Support
		Direct	(see note	costs (see
		Costs	6)	note 7)	Totals
Grants		8,741	390,749	41,548	441,038
Almshouses		330,999		15,986	346,985
Leasehold	Bungalows	16,694		1,540	18,234
		~356434	390,749	59,074	806,257
GRANTS	PAYABLE
				2020	2019
Grants				390,749	259,176

The total grants paid t	o i	ns	titu	tions d	uri	ng the year wa	s as follows:
								2020	2019
Relief ofPoverty
Grants to Individuals								29,166	15,824
Richmond Food Bank						Organisation	Core Funding	6,712	3,500
Richmond Citizens Advice Bureaux						Organisation	Core Funding	38,560	38,560
Bames Community Arts		Centre OSO				Community	Kitchen	12,000
Power Station Youth Club								500
Relief ofAged
FiSH Neighbourhood	Care					Organisation	Core Funding	26,500	7,250
Age UK Richmond Upon			Thames			Organisation	Core Funding	15,400	15,400
Relief ofDistress and	Sickness
Clergy discretionary grants								1,500	1,500
Integrated Neurological		Services				Organisation	Core Funding	4,000	4,000
MID Mediation and Counselling						Organisation	Core Funding	3,000	4,000
Richmond Aid						Organisation	Core Funding	7,500	7,500
Richmond Carers Centre						Organisation	Core Funding	5,000	5,000
Crossroads Care —Richmond				and				19,650	19,650
Kingston Upon Thames						Organisation	Core Funding
Richmond Mencap								5,000	5,000
Richmond Mind						Organisation	Core Funding	8,500	8,500
Richmond Mind						Positive Living group		4,723	4,723
Home Start, Richmond	upon			Thame	s	Organisation	Core Funding	5,250
Multicultural Richmond						Organisation	Core Funding	1,000	1,000
Crossways Pregnancy	Crisis			Centre		Organisation	Core Funding	3,500	3,500
Offthe Record						Counselling	Satellite Service	14,800	12,600
Glass door homeless charity						Organisation	Core Funding		2,500
Richmond Aid						Peer Network		5,000	4,000
Dose ofNature						Organisation	Core Funding	5,000
Royal Trinity Hospice						Organisation	Core Funding	5,000
ADHD Richmond and	Kingston					Organisation	Core Funding	4,000
Provision ofRecreation			and	Leisure		Facilities*
Mortlake Community	Association					Organisation	Core Funding		3,000
Barnes Music Society						Organisatiou	Core Funding	1,250	500
Mortlake Scout Group						100"Centenary Celebration			500
Bames Music Festival						Schools Programme		750
Bames Music Festival						Musician in	Residence	1,000
Activity Station						Organisation	Core Funding	5,000
Education
Grants to Individuals								13,927	8,457
Castelnau Centre Project						Organisation	Core Funding	41,000	41,000
Orange Tree Theatre						Organisation	Core Funding		5,000
Kick London						Mentoring at Richmond Park Academy		4,000	2,000
Holly Lodge Centre						Organisation	Core Funding	3,000	3,000
Richmond Music Trust						Organisation	Core Funding		1,300
Action Attainment						Organisation	Core Funding	5,750	5,018
Action Attainment						Sensory Strategies for SelfRegulation			4,200
Action attainment						Extending and increasing existing services		4,987
						in response	to COVID

The River	Thames Boat Project	Thames Boat Project	Organisation	Core Funding		2,400
Castlenau	Centre	Project	Community	planning events 2019		840
LVA Trust			Organisation	Core Funding	4,000	3,500
Bames Children's		Literature	Organisation	Core Funding		500
Pictologue			Organisation	Core Funding	5,000	5,000
Harlequins			Organisation	Core Fuding		2,000
Capital Projects
Barnes Methodist		Church			50,000
Castlenau						7,884
Walsingham Lodge					19,824	(930)
					390,749	259,176

SUPPORT COSTS
			Governance
	Management I	Finance	costs I	Totals
Grants	34,691	88	6,769	41,548
Almshouses		175	15,811	15,986
Leasehold Bungalows			1,540	1,540
	34,691	263	24,120	59,074
AUDITORS' REMUNERATION
			2020	2019
Fees payable to the charity's	auditors for the audit ofthe charity's	financial
statements			13,860	14,214

The average monthly number ofemployees duri	ng the year was as follows:
	2020	2019
Grants	1	1

COMPARATIVES FOR THE STATEMENT OF FINANCIAL	COMPARATIVES FOR THE STATEMENT OF FINANCIAL	COMPARATIVES FOR THE STATEMENT OF FINANCIAL	ACTIVITIES
		Unrestricted	Restricted	Endowment	Total
		funds	fund	funds	funds
INCOME	AND ENDOWMENTS FROM
Donations	and legacies	125			125
Charitable	activities
Almshouses		341,118			341,118
Leasehold	Bungalows	21,646	5,000		26,646
Investment	income	334,587			334,587
Total		697,476	5,000		702,476
EXPENDITURE ON
Charitable	activities
Grants		309,273			309,273
Almshouses		398,597		5,049	403,646
Leasehold	Bungalows	21,647	34,535		56,182
Total		729,517	34,535	5,049	769,101
Net gains on investments		346,130		1,226,597	1,572,727
NKT INCOME/(EXPENDITURE)		314,089	(29,535)	1,221,548	1,506,102
Other recognised gains/(losses) Gains/(losses) on revaluation offixed assets		4,251		~4.2212
Net movement in funds		318,340	(29,535)	1,217,297	1,506,102

					Notes to the Financial Statements - continued	Notes to the Financial Statements - continued	Notes to the Financial Statements - continued	Notes to the Financial Statements - continued
						for the year ended 31December		2020
11.	COMPARATIVKS FOR			THE		STATEMENT OF FINANCIAL		ACTIVITIES - continued
							Unrestricted	Restricted	Endowment	Total
							funds	fund	funds	funds
	RECONCILIATION		OF	FUNDS
	Total funds brought		forward				3,564,276	34,933	8,060,322	11,659,531
	TOTAL FUNDS	CARRIED			FORWARD		3,882,616	5,398	9,277,619	13,165,633
12.	INCOMING RESOURCES				FROM CHARITABLE ACTIVITIES (TURNOVER)
									2020	2019
	Maintenance contributions			from		Almshouses			349,916	332,912
	Service charges								24,081	26,516
	Gross rental income								373,997	359,428
	Voids
	Net rental income								373,997	359,428
	Other income								(675)	989
	Expense recharge								19,529	7,347
									392,851	367,764
13.	ACCOMMODATION		IN	MANAGEMENT
									2020	2019
	Sheltered housing	accommodation				(all managed	by other bodies)
	Almshouses								33	33
	Leasehold Bungalows								5	5
									38

TANGIBLE FIXEDASSETS
		Fixtures
	Freehold	all Cl	Office
	property	fittings	equipment	Totals
COST
At 1 January 2020	2,090,777	26,643	946	2,118,366
Additions		2,147		2,147
At 31December 2020	2,090,777	28,790	946	2,120,513
DEPRECIATION
At 1 January 2020	633,300	23,243	946	657,489
Charge for year	29,839	1,200		31,039
At 31 December 2020	663,139	24,443	946	688,528
NET BOOK VALUE
At 31 December 2020	1,427,638	4,347		1,431,985
At 31December 2019	1,457,477	3,400		1,460,877

FIXEDASSETINVESTMENTS
	Listed
	investments
MARKET VALIJE
At I January 2020	]0,628,815
Additions	950,450
Disposals	(988,204)
Revaluations	428,176
At 31December 2020	11,019,237
NKT BOOKVALUE
At 31 December 2020	11,019,237
At 31 December 2019	10,628,815

	The investments at31December	2020 are held as follo	ws:
			Main	Fund	Walsingham	Lodge
			Permanent
			Endowmen		Sinking Fund
		Total	t Fund	General	(Designated)	General
				Fund		Fund
				8		f.
	CCLA —COIF	10,595,992	8,275,576	8,007,137	207,479	215,766
	The historical cost ofinvestments	is X8,734,793(2019 - 58,924,917).
16.	INVESTMENT PROPERTY
	FAIR VALUE
	At I January 2020
	and 31 December 2020					621,000
	NET BOOK VALUE
	At 31December 2020					621,000
	At 31December 2019					621,000

DEBTORS:	AMOUNTS	FALLING DUE WITHIN ONE	YEAR
			2020	2019
			8
Maintenance	contribution	arrears	13,406	12,447
Other debtors			16,452	50,791
Prepayments	and accrued	income	12,969	9,778
			42,827	73,016

CRE	DITORS: AMOUNTS FALLING DUE WIT	HIN ONE YEAR
		2020	2019
Trade	creditors	27,282	26,044
Other	creditors	43,385	47,628
		70,667	73,672

					2020	2019
		Unrestricted	Restricted	Endowment	Total	Total
		funds	fund	funds	funds	funds
Fixed assets		744,303		687,682	1,431,985	1,460,877
investments		2,743,661		8,896,576	11,640,237	11,249,815
Cunent Current	assets liabilities	492,025 ~79,667)	9,150	6,324	507,499 ~70.667)	571,862 ~))6.92))
		3,909,322	9,150	9,590,582	13,509,054	13,165,633

		Wal singham	Leasehold
	Main Fund	Lodge Trust	Bungalows	2020Total
Fixed Assets
Tangible Fixed Assets		1,431,985		1,431,985
Investments
Investments	10,595,992	423,245		11,019,237
Investment Property	621,000			621,000
	11,216,992	1,855,230		13,072,222
Current Assets
Debtors	3,973	38,854		42,827
Cash at bank and in hand	51,369	404,153	9,150	464,672
	55,342	443,007	9,150	507,499
Current Liabilities Amounts falling due within one year	(3,614)~67,053) ~3,614)~67,053)			70,667) 70,667)
Net Current Assets/Liabilities	51,728	375,954	9,150	436,832
Net Assets	11,268,720	2,231,184	9,150	13,509,054

MOVKMKNT IN	FUN	DS
						Net	Transfers
						movement	between	At
					At 1.1.20	in funds	funds	31.12.20
						f	f
Unrestricted funds
General fund - Main fund					2,353,536	12,284		2,365,820
General fund - Walsingham			Lodge Trust		332,401	90,222	(51,317)	371,306
Sinking Fund					307,112	(8,580)	18,084	316,616
Fixed Asset Fund					768,148	(25,992)	2,147	744,303
Cyclical Repairs Fund					76,419	(41,228)	31,086	66,277
Boiler fund					45,000			45,000
					3,882,616	26,706		3,909,322
Restricted funds
Long Leaseholders	Maintenance			Fund	5,398	3,752		9,150
Endowment funds
Permanent Endowment Permanent Endowment Lodge Trust		- Main fund -Walsingham			8,584,888 592.731	318,012 ~5,0491		8,902,900 687,682
					9,277,619	312,963		9,590,582
TOTAL FUNDS					13,165,633	343,421		13 509 054

Net movement in fu	nds,	inc	lude	d in the above	are as follows:
					Incoming	Resources	Gains and	Movement
					resources	expended	losses	in funds
Unrestricted funds
General fund - Main fund					313,833	(441,034)	139,485	12,284
General fund - Walsingham			Lodge Trust		396,876	(291,706)	(14,948)	90,222
Sinking Fund					5,793		(14,373)	(8,580)
Fixed Asset Fund						(25,992)		(25,992)
Cyclical Repairs Fund						~41,228)		~41,228)
					716,502	(799,960)	110,164	26,706
Restricted funds
Long Leaseholders	Maintenance			Fund	5,000	(1,248)		3,752
Endowment funds
Permanent Endowment		-Main		fund			318,012	318,012
Permanent Endowment Lodge Trust		- Walsingham				~5,049)		~5,049)
						~5,049)	318,012	312,963
TOTAL FUNDS					721,502	(806,257)	428,176	343,421

Comparatives for	mov	eme	nt	in funds
						Net	Transfers
						movement	between	At
					At 1.1.19	in funds	funds	31.12.19
Unrestricted funds
General fund - Main fund					225,915	305,884	1,821,737	2,353,536
General fund - Walsingham			Lodge Trust		189,062	192,509	(49,170)	332,401
Reserve Fund Order					1,821,737		(1,821,737)
Sinking Fund					326,854	(37,826)	18,084	307,112
Fixed Asset Fund					784,878	(16,730)		768,148
Cyclical Repairs Fund					170,830	(125,497)	31,086	76,419
Boiler fund					45,000			45,000
					3,564,276	318,340		3,882,616
Restricted funds
Long Leaseholders	Maintenance			Fund	34,933	(29,535)		5,398
Endowment funds
Permanent Endowment		-Main		fund	7,362,542	1,222,346		8,584,888
Permanent Endowment Lodge Trust		-Walsingham			697,78tl	~89497		692,731
					8,060,322	1,217,297		9,277,619
TOTAL FUNDS					11,659,531	1,506,102		13,165,633

					incoming	Resources	Gains and	Movement
					resources	expended f	losses	in funds
Unrestricted funds
General fund - Main fund					316,116	(309,273)	299,041	305,884
General fund - Walsingham			Lodge Trust		373,200	(206,864)	26,173	192,509
Sinking Fund					8,160	(71,153)	25,167	(37,826)
Fixed Asset Fund Cyclical Repairs Fund						(16,730) ~727.497		(16,730) ~125,497)
					697,476	(729,517)	350,381	318,340
Restricted funds
Long Leaseholders	Maintenance			Fund	5,000	(34,535)		(29,535)
Endowment funds
Permanent Endowment		—Main		fund			1,222,346	1,222,346
Permanent Endowment Lodge Trust		- Walsingham				~5,049)		5,049
						~5,049)	1,222,346	1,217,297
TOTAL FUNDS					702,476	~769,101)	1,572,727	1,506,102