2021-12-31-accounts - The Barnes Fund

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		Page
Report ofthe Trustees	I	to	22
Report ofthe Independent Auditors	23	to	25
Statement ofFinancial Activities		26
Balance Sheet		27
Income and expenditure account		28
Cash Flow Statement		29
Notes to the Cash Flow Statement		30
Notes to the Financial Statements	31	to	46
Detailed Statement ofFinancial Activities	47	to	48

							2021	2020
				Unrestricted	Resuicted	Endowment	Total	Total
				funds	fund	funds	funds	funds
			Notes					6
INCOME	AND
ENDOWMENTS FROM
Donations	and legacies			450			450	370
Charitable	activities
Almshouses				352,910			352,910	368,859
Leasehold	Bungalows			19,085	5,000		24,085	23,993
Investment	income		3	316,493		8636:125129		328280
Total				688,938	5,000	8,636	702,574	721,502
EXPENDITURE ON
Charitable	activities
Gmnts				356,446			356,446	441,038
Almshouses				389,675		5,049	394,724	346,985
Leasehold	Bungalows			17,092			17,092	18,234
Total				763,213		5,049	768,262	806,257
Net gains on investments				453,109		1200.569	1.653.678	428.176
NET INCOME				378,834	5,000	1,204,156	1,587,990	343,421
RECONCILIATION		OF FUNDS
Total funds brought forward				3,909,322	9,150	9,590,582	13,509,054	13,165,633
TOTAL 11'UNDS CARRIED
FORWARD				4,288 156	14,150	10,794,738	15,097,044	13,509,054

THE BARNES FUND and	linked charity, THE WALSINGHA	M LODGE TRUST
	Balance Sheet
	31December 2021
		2021	2020
	Notes
FIXEDASSETS
Tangible assets	14	1,403,377	1,431,985
Investments
Investments	15	12,909,650	11,019,237
Investment property	16	647000	621 0011
		14,960,027	13,072,222
CURRENT ASSETS Debtors	17	46,451	42,827
Cash atbank and in hand		188869	464 672
		235,320	507,499
CREDITORS
Amounts falling due within one year	18	(98,303)	(70,667)
NET CURRENT ASSETS		137017	436032
TOTAL ASSETSLESS CURRENT
LIABILITIES		15,097,044	13,509,054
NET ASSETS		15097044	13509054
FUNDS	20
Unrestricted funds		4,288, 156	3,909,322
Restricted funds Endowment funds		14,150 10794738	9,150 9590502
TOTAL FUNDS		15097044	13 509 054

			for	th	e year ended	31December 20	21
						2021		2020
					Notes			K
Turnover					12		376,995		392,852
Less: operating costs							(411,815)		(365,223)
Operating surplus/(deficit)							(34,820)		(27,629)
Investment income
Ground rent						3,341		355
Interest receivable and	other income					313,599		328,295
Unrealised gain/cross) on		investment			assets	415,003		142,308
Realised gain/(loss) on	investment			assets		2,036		(17,772)
Charitable Expenditure						(356,446)		(441,033)
							377 333		12,153
Surplus for the year							342,713		39,782
Less: (see movement in funds		-	note 20)
Net permanent endowment			movement
in funds						5,049		5,049
Net restricted movement		in	funds			(5,000)		(3,752)
Net designated movement		in funds				168,923		61,427
Transfers to designated	funds					(250,523)		(51,317)
							(81,551)		11,407
Net increase in revenue reserve
(unrestricted income)							261,162		51,189
Revenue reserve bmugbt fonvard						2,737,126			2,685,937
Revenue reserve carried forward						2,998,288			2,737,126
Being:
Main fund						2,654,397			2,365,820
Walsingham Lodge							343,891		371,306
						2	998288		2,737,126
All the funds results are classed			as continuing.
Approvedbytheboardofthe and signed on their behalf b	y;	Trusteeon			... ... .QQ...Q~~		(	gP

				Cash Flow Statement
			for the	year ended 31 December	2021
					2021	2020
			Notes
Cash flows from operating activities Cash generated from operations					16668	~24 659)
Net cash used in operating	activities				16668	~24 659)
Cash flows from investing activities Purchase oftangible fixed assets Purchase offixed asset investments					(287,734)	(2,147) (950,450)
Sale offixed asset investments Interest received					25,000 11	988,204 ~3176
Net cash (used in)/provided	by investing		activities		262 723	32763
Cash flows from financing activities Income attributable to endowment Expenditure attributable to endowment					8,636 ~5049	~5049)
Net cash provided by/(used	in) financing		activities		~3587	5049
Change in cash and cash reporting period	equivalents	in the			(275,804)	9,075
Cash and cash equivalents ofthe reporting period	at the beginning			2	464 672	455 597
Cash and cash equivalents reporting period	at the end		ofthe	2	~188 868	464672

Notes to the Cash Flow Statement for the year ended 31December 2021	Notes to the Cash Flow Statement for the year ended 31December 2021	Notes to the Cash Flow Statement for the year ended 31December 2021	Notes to the Cash Flow Statement for the year ended 31December 2021
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
		2021	2020
Net income for the	reporting period (as per the Statement ofFinancial
Activities)		1,587,990	343,421
Adjustments for:
Depreciation charges		28,607	31,039
Gain on investments		(1,653,678)	(428,176)
Interest received		(11)	(3,176)
Income attributable	to endowment	(8,636)
Expenditure attributable to endowment		5,049	5,049
(Increase)/decrease	in debtom	(3,624)	30,189
Increase/(decrease)	in creditors	27,635	~3005
Net cash used in operations		~16,668)	~24,659)
ANALYSIS OF CASH AND CASH EQUIVALENTS
		2021	2020
		g
Cash in hand		300	300
Notice deposits (less than 3 months)		188,568	464 372
Total cash and cash	equivalents	188,868	464,672
ANALYSIS OF CHANGES IN NET FUNDS
	At 1.1.21	Cash flow	At 31.12.21
Net cash
Cash at bank and in	hand 464,672	~275,804)	18S,868
	464,672	~275,804)	188,868
Total	464,672	~275,804)	188,868

within not	e 1	3.
			Useful economic
			life
			(years)
Structure			100
Roof			60
Heating			25
Windows	and	doors	28
Electrical			25
Bathroom			20
Kitchen			20

			for the year ended 31December 2	021
3.	INVESTMENT INCOME
				2021	2020
				6
	Investment properly	income		3,341	355
	Dividends receivable			321,777	324,749
	Deposit account interest			ll	3,176
				325,129	328,280
	INCOME FROM CHARITABLE ACTIVITIES
				2021	2020
			Activity
	Rent and maintenance
	contributions receivable		Almshouses	342,267	349,916
	Other income		Almshouses		(586)
	Cost recharge		Almshouses	10,643	19,529
	Rent and maintenance
	contributions receivable Other income		Leasehold Bungalows Leasehold Bungalows	24,085	24,082 ~89)
				376,995	392,852

				Grant
				funding of
				activities	Support
			Direct	(see note	costs (see
			Costs	6)	note 7)	Totals
	Gmnts		30,088	273,870	52,488	356,446
	Almshouses		374,729		18,663	393,392
	Leasehold	Bungalows	16,965		1,459	18,424
			421,782	273,870	72,610	768,262
6.	GRANTS	PAYABLE
					2021	2020I
					273 870	390,749

The total gmnts paid to	i	nstitu	tions duri	ng the year was	as follows:
						2021	2020
						6
Relief ofPoverty
Grants to Individuals						17,627	29,166
Richmond Food Bank				Organisation	Core Funding	6,712	6,712
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	14,500	26,500
Age UK Richmond Upon Thames				Organisation	Core Funding	7,700	15,400
Relief ofDistress and	Sickness
Clergy discretionary grants Integmted Neurological Services				Organisation	Core Funding	3,300 4,000	1,500 4,000
MID Mediation and Counselling				Organisation	Core Funding	3,000	3,000
Richmond Aid				Organisation	Core Funding	7,500	7,000
Richmond Carers Centre				Organisation	Core Funding	5,000	5,000
Crossroads Care —Richmond			and			20,200	19,650
Kingston Upon Thames				Organisation	Core Funding
Richmond Mencap				Organisation	Core Funding	5,000	5,000
Richmond Mind				Organisation	Core Funding	8,500	8,500
Richmond Mind				Positive Living group		4,358	4,723
Home Start, Richmond	upon		Thames	Organisation	Core Funding	5,250	5,250
Multicultural Richmond				Organisation	Core Funding	1,500	1,000
Crossways Pmgnancy	Crisis		Centre	Organisation	Core Fuoding	1,500	3,500
Offthe Record				Counselling	Satellite Service	14,800	14,800
Richmond Aid				Peer Network		5,000	5,000
Dose ofNature				Organisation	Core Funding		5,000
Royal Trinity Hospice				Organisation	Core Funding		5,000
ADHD Richmond and	Kingston			Organisation	Core Funding	6,500	4,000
Skylarks Charity						2,000
Provision ofRecreation		and Leisure		Facilities*
Mottlake Community	Association			Organisation	Core Funding
Barnes Music Society				Organisation	Core Funding	2,000	1,250
Mortlake Scout Group				100eCentenary Celebration
Bames Music Festival				Schools Programme		750	750
Bames Music Festival				Musician in	Residence		1,000
Barnes Music Festival				Pop-up Musicians		1,000
Activity Station				Organisation	Core Funding		5,000
Education
Grants to Individuals						11,562	13,927
Castelnau Centre Project				Organisation	Core Funding	45,234	41,000
Omnge Tree Theatre				Organisation	Core Funding
Kick London				Mentoring at Richmond Park Academy			4,000
Holly Lodge Centre				Organisation	Core Funding	3,000	3,000
Richmond Music Trust				Organisauon	Core Funding	1,250
Action Attainment				Organisation	Core Funding	7,346	5,750
Action attainment				Extending and increasing existing services			4,987
				in response	to COVID

The River Thames BoatProject	The River Thames BoatProject	Organisation	Core Funding	2,400
LVA Trust		Organisation	Core Funding	6,520	4,000
Bames Children's	Literature	Organisation	Core Funding	2,500
Pictologue		Organisation	Core Funding		5,000
Capital Projects
Barnes Methodist	Church				50,000
Castelnau Centre	Project	Bell Tower	repair	7,800
Walsingham Lodge					19,824
				273,870	390,749

	SUPPORT COSTS
				Governance
		Management	Finance	costs	Totals
	Gmnts	39,475	124	12,889	52,488
	Almshouses		106	18,557	18,663
	Leasehold Bungalows			1,459	1,459
		39,475	230	32,905	72,610
8.	AUDITORS' REMUNERATION
				2021	2020
	Fees payable to the charity's auditors for the audit ofthe charity's		financial
	statements			12 120	13860

STA1III' COSTS
			2021	2020I
Wages and Salaries			~43 965	37692
The average monthly	number ofemployees	during the year was as follows:
			2021	2020
Grants			2	1

	for the year ended 31Decembe	for the year ended 31Decembe	for the year ended 31Decembe	for the year ended 31Decembe	r 2021
11.	COMPARATIVES FORTHE STATEMENT OFFINANCIAL				ACTIVITIES
				Unrestricted	Restricted	Endowment	Total
				funds	fund	funds	ftmds
	INCOME	AND ENDOWMENTS FROM
	Donations	and legacies		370			370
	Charitable	activities
	Almshouses			368,859			368,859
	Leasehold	Bungalows		18,993	5,000		23,993
	Investment	income		328,280			328280
	Total			716,502	5,000		721,502
	EXPENDITURE ON
	Charitable	activities
	Gmnts			441,038			441,038
	Almshouses			341,936		5,049	346,985
	Leasehold	Bungalows		16,986	1,248		18,234
	Total			799,960	1,248	5,049	806,257
	Net gains on investments			110,164		318,012	428,176
	NET INCOME			26,706	3,752	312,963	343,421
	RECONCILIATION		OF FUNDS
	Total funds brought forward			3,882,616	5,398	9,277,619	13,165,633
	TOTAL FUNDS CARRIED FORWARD			3,909,322	9,150	9,590,582	13,509,054

INCOMING RESOURC	ES FROM CHARITABLE ACTIVITI	ES (TURNOVER)
		2021	2020I
Maintenance contributions	from Almshouses	342,267	349,916
Service charges		24 085	24081
Gross rental income		366,352	373,997
Voids
Net rental income		366,352	373,997
Other income			(675)
Expense recharge		10643	19529
		~376 995	392 852

ACCOMMODATION IN MAN	AGEMENT
		2021	2020
Sheltered housing accommodation	(all managed by other bodies)
Almshouses		33	33
Leasehold Bungalows		5	5
		38	38

TANGIBLE FIXEDASSETS
		Fixtures
	Freehold	and	Office
	pmperly	fittings	equipment I	Totals
COST
At 1January 2021 and 31 December 2021	2090777	28790	946	2 120513
DEPRECIATION
At 1 January 2021 Charge foryear	663,138 26 981	24,443 1628	946	688,527 28609
At 31December 2021	690 119	26 071	946	717136
NET BOOKVALUE
At 31December 2021	1 400 658	2 719		1 403 377
At 31December 2020	1427639	4347		1431 986

FIXEDASSETINVESTMENTS
	Listed
	investments
MARKET VALUE
At I January 2021	11,019,236
Additions	287,734
Disposals	(25,000)
Revaluations	1,627,680
At 31December 2021	12,909,650
NET BOOKVALUE
At 31December 2021	12909,650
At 31December 2020	11019,236

INVESTMENT PROPERTY
FAIRVALUE
At 1 January 2021	621,000
Revaluation	26 000
At 31December 2021	647000
NET BOOKVALUE
At 31December 2021	647 000
At 31December 2020	621000

DEBTORS:	AMOUNTS	FALLING DUE WITHIN ONE YEAR
			2021	2020
			I
Maintenance	contribution	arrears	14,734	13,406
Other debtors			13,35	16,452
Prepayments	and accrued	income	18382	12969
			~46 451	42 827
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
			2021	2020
				I
Trade creditors			41,099	27,282
Other creditors			57204	43 385
			98303	70667

					2021	2020
		Unrestricted	Restricted	Endowment	Total	Total
		funds	fundI	funds	funds	funds
Fixed assets		720,743		682,634	1,403,377	1,431,985
Investments		3,450,869		10,105,781	13,556,650	11,640,237
Current assets Current liabilities	214,847 ~98.3031		14,150	6,323	235,320 (98,303)	507,499 ~70.667)
		8.288,156	14,150	10,794,738	15,097,044	13,509,054
				Walsingham	Leasehold
			Main Fund	Lodge Trust	Bungalows	2021Total
Fixed Assets
Tangible Fixed Assets				1,403,377		1,403,377
Investments
Investments			12,084,402	825,248		12,909,650
Investment Property			647,000			647,000
			12,731,402	2,228,625		14,960,027
Current Assets
Debtors			4,841	41,610		46,451
Cash at bank and in hand			37,169	137,550	14,150	188869
			42,010	179,160		235,320
Current Liabilities Amounts falling due within one		year	~69)))~9),392) ~6.9))~9).392			98303) 98,303)
Net Current Assets/Liabilities			35 100	87 768	14150	137,018
Net Assets			12,766,501	2,316,393	14,150	15097,044

						Net	Transfers
						movement	between	At
					At 1.1.21	in funds	funds	31.12.21
							6
Unrestricted funds
General fund - Main fund					2,365,816	288,581		2,654,397
General fund - Walsingham			Lodge Trust		371,310	223,104	(250,523)	343,891
Asset Maintenance	Fund				316,616	(109,290)	361,800	569,126
Fixed Asset Fund					744,303	(23,561)		720,742
Cyclical Repairs Fund Boiler fund					66,277 45 00II		(66,277) ~45 000
					3,909,322	378,834		4,288,156
Restricted funds
Long Leaseholders	Maintenance			Fund	9,150	5,000		14,150
Endowment funds
Permanent Endowment		-Main fund			8,902,899	1,209,205		10,112,104
Permanent Endowment Lodge Trust		-Walsingham			687 683	~5049		682 634
					9590582	1204170		10794738
TOTAL FUNDS					13509054	1587990		15097044
Net movement in funds,		included in the above are as follows:
					Incoming	Resources	Gains and	Movement
					resources	expended	losses	in funds
Unrestricted funds
General fund - Main fund					316,930	(356,446)	328,097	288,581
General fund - Walsingham			Lodge Trust		372,008	(237,844)	88,940	223,104
Asset Maintenance Fixed Asset Fund	Fund					(145,362) ~23 561	36,072	(109,290) ~23 561
					688,938	(763,213)	453,109	378,834
Restricted funds
Long Leaseholders	Maintenance			Fund	5,000			5,000
Endowment funds
Permanent Endowment		- Main fund			8,636		1,200,569	1,209,205
Permanent Endowment Lodge Trust		-Walsingham				~5049		~50491
					8 636	~5 049	1 200 569	1204 156
TOTAL FUNDS					702 574	~768 262	1653 678	1587 990

Comparatives for	mov	eme	nt	in funds
						Net	Transfers
						movement	between	At
					At 1.1.20	in funds	funds	31.12.20
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 Fixed Asset Fund					307,112 768,148	(8,580) (25,992)	18,084 2,147	316,616 744,303
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			8,584,888 692.731	318,012 ~5.6493		8,902,900 687,682
					9,277,619	312,963		9,590,582
TOTALFUNDS					13.165.633	343 421		13,509,054

Comparative net mo	vem	ent	in f	unds, included	in the above are as	follows:
					Incoming	Resources	Gains and	Movement
					resources	expended	losses	in funds
					6
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				~5049)		~5049)
						5049	318012	312963
TOTALFUNDS					721 502	~806 257)	428 176	343 421
Designated funds:
Asset Maintenance	Fund