|||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|
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||||||||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|
##
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##
##
##
##
##
##
##
##
##
##
|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|
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|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||||||||
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