| Page | |||
|---|---|---|---|
| Contents | 1 | ||
| Trustees'Report | |||
| 2-7 | |||
| Trustees'Statementson Internal Controls and | |||
| Responsibilityfor the Accounts | |||
| 8 | |||
| , | Auditors' Report | ||
| 9-10 | |||
| StatementofFinancialActivities | |||
| I I | |||
| BalanceSheet | |||
| 12 | |||
| CashFlowStatement(withNotes) | |||
| 13 | |||
| Notes to theFinancialStatements | |||
| AccountingPolicies | (Notel) | 14-16 | |
| Income and Expenditure | (Notes 2 - 7 ) | 17-20 | |
| FixedAssets | (Notes 8-10) | 21-23 | |
| CurrentAssets | (Notes 11-13) | 23-24 | |
| LongTermCreditors | (Note 14) | 24 | |
| Provisions | (Note 15) | 24 | |
| CapitalFunds | (Notes 16-17) | 25 | |
| RestrictedFunds | (Note 18) | 26-28 | |
| UnrestrictedFunds | (Note 19) | 29 | |
| AnalysisofNet Assets between Funds | (Note 20) | 30 | |
| CapitalCommitments | (Note 21) | 30 | |
| COVID-19Pandemicnote | (Note 22) | 31 | |
| ComparativeStatementofFinancialActivities | (Note 21) | 32 | |
| forthe yearended31December 2019 |
| ppointed Professional | Advisers |
|---|---|
| Solicitors | Trethowans, London Road Office Park, London Road, Salisbury SPl 3HP |
| Sampson Coward, 51 New Street, Salisbury SPl 2PH | |
| Auditors/Accountants | Fletcher & Partners, Crown Chambers, Bridge Street, Salisbury SPl 2LZ |
| Bankers | LloydsBank pic, 38BlueBoar Row, Salisbury SPl IDB |
| Investment Managers | CCLAInvestmentManagementLtd,Senator House, 85 QueenVictoriaStreet, |
| LondonEC4V4ET | |
| M&GSecurities Ltd, POB 9038, Chelmsford CM992XF | |
| Vanguard AssetManagementLtd,25 Walbrook, LondonEC4N8AF | |
| Quilter CheviotLtd,London Rd Office Park, Salisbury SPl 3HP |
| i) | the information given in thefinancialstatementsis inconsistent in any material respectwiththe |
|---|---|
| Trustees'Report; or | |
| ii) | sufficient accounting records have not been kept; or |
| iii) | thefinancialstatementsare not in agreementwiththe accounting records; or |
| iv) | we have not receivedallthe information and explanations we require for our audit. |
| Unrestricted | Restricted | Endowment | Total | Total | ||
|---|---|---|---|---|---|---|
| Note | Funds | Funds | Funds | 2020 | 2019 | |
| INCOME FROM | ||||||
| Charitable Activities | ||||||
| Turnover | ||||||
| Residents' contributions | 2 | 867,915 | 474,319 | 1,342,234 | 1,333,117 | |
| Housing Related Support | 2 | 68,775 | 3,215 | - | 71,990 | 73,943 |
| Governmentgrantincome | 2 | 67,291 | 67,291 | 67,291 | ||
| 1,003,981 | 477,534 | - | 1,481,515 | 1,474,351 | ||
| Surplus on disposal | - | - | - | - | - | |
| Donations and legacies | 1,835 | - | - | 1,835 | 27,684 | |
| Investments | 3 | 235,237 | 87,279 | 526 | 323,042 | 387,011 |
| Other income | 20,281 | 1,351 | - | 21,632 | 50,875 | |
| Totalincome | 1,261,334 | 566,164 | 526 | 1,828,024 | 1,939,921 | |
| EXPENDITURE ON | ||||||
| Raising Funds | ||||||
| Investment costs | 4 | 19,058 | 9,152 | 28,210 | 24,357 | |
| Charitable Activities | ||||||
| Almshouse operating costs | 2 | 880,854 | 360,294 | 17,189 | 1,258,337 | 1,208,786 |
| Almshousemanagement | 2 | 280,038 | 42,731 | 322,769 | 318,023 | |
| Interest | 5 | 15,125 | 15,125 | 15,227 | ||
| 1,176,017 | 403,025 | 17,189 | 1,596,231 | 1,542,036 | ||
| Welfaregrants | 7 | 28,317 | 28,317 | 22,378 | ||
| 1,204,334 | 403,025 | 17,189 | 1,624,548 | 1,564,414 | ||
| Totalexpenditure | 1,223,392 | 403,025 | 26,341 | 1,652,758 | 1,588,771 | |
| **Net income/(expenditure) before ** | gains | 37,942 | 163,139 | (25,815) | 175,266 | 351,150 |
| OTHER GAINS AND LOSSES | ||||||
| Realised gains/(Iosses) on disposal: | ||||||
| Investments | (32,504) | (1,737) | (34,241) | 295,183 | ||
| Unrealised gains/(Iosses) on revaluation: | ||||||
| Investments | 322,848 | (57,654) | (71,080) | 194,114 | 1,523,481 | |
| Investmentproperties | (180,000) | (180,000) | (50,000) | |||
| Pension schemeliability | 11,508 | |||||
| Net income/expenditure | 328,286 | 105,485 | (278,632) | 155,139 | 2,131,322 | |
| Transfersbetween funds | 18 | (41,180) | 39,910 | 1,270 | ||
| Net movement in funds | 287,106 | 145,395 | (277,362) | 155,139 | 2,131,322 | |
| Fundbalances at 25 December 2019 | 7,134,498 | 5,889,677 | 7,608,817 | 20,632,992 | 18,501,670 | |
| Fund balances at 31 December 2020 | £7,421,604 | £6,035,072 | £7,331,455 | £20,788,131 | £20,632,992 |
| Note | Note | 2020 | 2019 | |
|---|---|---|---|---|
| FIXED ASSETS | ||||
| Assets treated as held on endowment | ||||
| Almshouseproperties | 8a | 6,863,691 | 6,935,334 | |
| Offices | 8b | 26,077 | 26,976 | |
| Investmentproperties | 8c | 1,400,000 | 1,580,000 | |
| Investments heldonendowment | 8d | 5,195,504 | 5,284,591 | |
| 13,485,272 | 13,826,901 | |||
| Assets purchased from income | ||||
| Investments recouped | 9 | 85,706 | 76,791 | |
| Equipment, furniture. | ||||
| fixturesandfittings | 10 | 38,048 | 31,618 | |
| Total fixed assets | 13,609,026 | 13,935,310 | ||
| CURRENT ASSETS | ||||
| Debtors | 11 | 47,264 | 47,212 | |
| Investments | 12 | 7,440,676 | 7,051,333 | |
| Cashatbank and in hand | 2,097,154 | 2,006,890 | ||
| 9,585,094 | 9,105,435 | |||
| CREDITORS: Amounts falling due | ||||
| within one year | 13 | 279,777 | 207,839 | |
| Net current assets | 9,305,317 | 8,897,596 | ||
| Total assets less current liabilities | £22,914,343 | £22,832,906 | ||
| CREDITORS: Amounts falling due | ||||
| after more than one year | 14 | 2,099,836 | 2,168,289 | |
| PROVISIONS FOR LIABILITIES | ||||
| AND CHARGES | 15 | 26,376 | 31,625 | |
| £20,788,131 | £20,632,992 | |||
| CAPITAL AND RESERVES | ||||
| Capital | ||||
| Endowment | 16 | 7,245,749 | 7,532,026 | |
| Endowment recouped | 9& | 17 | 85,706 | 76,791 |
| 7,331,455 | 7,608,817 | |||
| Reserves | ||||
| Restrictedfunds | 18 | 6,035,072 | 5,889,677 | |
| Unrestrictedfunds | 19 | 7,421,604 | 7,134,498 | |
| £20,788,131 | £20,632,992 |
| 2020 | 2019 | ||
|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net cash provided by (used in) operating activities | (1) | 34,860 | 103,113 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Dividend,interest andrentsfrom investments | 249,618 | 393,608 | |
| Purchase/improvement of housing property | (85,775) | (613,630) | |
| Purchase ofotherfixedassets | (17,412) | (24,706) | |
| Proceeds from the sale of housing property | |||
| Purchase of investments | (1,094,064) | (2,030,006) | |
| Proceeds from the sale of investments | 749,929 | 2,596,438 | |
| Netcash provided by (usedin)investingactivities | (197,704) | 321,704 | |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Interest paid | (15,125) | (15,227) | |
| Housing Loans repaid | (1,048) | (945) | |
| Net cash provided by (used in) financingactivifies | (16,173) | (16,172) | |
| Change in cash and cash equivalents in the | |||
| reporting period | (£179,017) | £408,645 | |
| Cash and cash equivalents at the beginning of the | |||
| reporting period | £2,382,284 | £1,973,639 | |
| Cash and cash equivalents at the end of the | |||
| reporting period | (2) | £2,203,267 | £2,382,284 |
| NOTES | |||
| 1. Reconciliation of net income/(expenditure) to net cash flow from operating activities | |||
| 2020 | 2019 | ||
| Net income/(expenditure) for the reporting period (as per | |||
| thestatementoffinancialactivities) | 155,139 | 2,131,322 | |
| Adjustments for: | |||
| Depreciation charges | 215,946 | 207,938 | |
| (Gains)/losseson investments | 20,127 | (1,768,664) | |
| Dividend,interest andrentsfrom investments | (323,042) | (387,011) | |
| Interest paid | 15,125 | 15,227 | |
| (Increase)/decrease indebtors | (1,072) | (3,504) | |
| lncrease/(decrease) in creditors | (42,114) | (74,528) | |
| lncrease/(decrease) in provisions | (5,249) | (17,667) | |
| Net cash provided by (used in) operating activities | £34,860 | £103,113 | |
| 2. Analysis of cash and cash equivalents | |||
| Balance | Balance | ||
| 31.12.20 | 31.12.19 | ||
| Cashat bank and in hand | 2,097,154 | 2,006,890 | |
| Cashheld in investment portfolio | 106,113 | 375,394 | |
| £2,203,267 | £2,382,284 |
| a. | Turnover and Operating Costs from Almshouses | Turnover and Operating Costs from Almshouses | |||
|---|---|---|---|---|---|
| General | Supported | 2020 | 2019 | ||
| Needs | Housing | Total | Total | ||
| Turnover | |||||
| Residents' contributions receivable: | |||||
| Maintenance | 137,721 | 981,444 | 1,119,165 | 1,099,501 | |
| Lessvoids | - | (24,578) | (24,578) | (5,945) | |
| Servicecharges (not eligible for housing benefit): | |||||
| Heating and hot water | - | 133,091 | 133,091 | 133,026 | |
| Catering | - | 99,736 | 99,736 | 89,029 | |
| Electricity | - | 18,606 | 18,606 | 18,666 | |
| Lessvoids | (3,786) | (3,786) | (1,160) | ||
| Housing Related Support | - | 71,990 | 71,990 | 73,943 | |
| Amortisedgovernmentgrants | - | 67,291 | 67,291 | 67,291 | |
| 137,721 | 1,343,794 | 1,481,515 | 1,474,351 | ||
| Operating expenditure | |||||
| Services:Heating and hot water | - | 75,215 | 75,215 | 68,271 | |
| Services:Catering | - | 81,450 | 81,450 | 74,360 | |
| Electricity(for communal areas) and water | 189 | 78,888 | 79,077 | 80,277 | |
| Wardens, cleaners andgardeners | - | 399,731 | 399,731 | 411,282 | |
| SpeechCallAlarmsystems | - | 26,634 | 26,634 | 28,897 | |
| Routine maintenance | 9,890 | 106,106 | 115,996 | 110,898 | |
| Cyclicalmaintenance | 25,757 | 144,159 | 169,916 | 100,061 | |
| Majorrepairs and improvements | 4,272 | 92,084 | 96,356 | 126,137 | |
| Buildingdepreciation | 39,426 | 164,647 | 204,073 | 200,864 | |
| Baddebts | - | 1,227 | 1,227 | - | |
| Other costs | 310 | 8,352 | 8,662 | 7,739 | |
| 79,844 | 1,178,493 | 1,258,337 | 1,208,786 | ||
| Management and administration (Note 2b) | 22,894 | 299,875 | 322,769 | 318,023 | |
| 102,738 | 1,478,368 | 1,581,106 | 1,526,809 | ||
| Operating surplus(deficit) | £34,983 | (£134,574) | (£99,591) | (£52,458) |
| Manaeement | Governance | 2020 | 2019 | |
|---|---|---|---|---|
| Staffcosts | 217,368 | 11,440 | 228,808 | 224,635 |
| Officeexpenses | 29,965 | 1,577 | 31,542 | 26,673 |
| Stafftraining and recruitment | 3,605 | - | 3,605 | 3,085 |
| Auditors'remuneration (Note 7) | 1,490 | 11,008 | 12,498 | 15,808 |
| Legaland professional fees | 2,000 | 1,080 | 3,080 | 4,387 |
| Insurance | 39,566 | - | 39,566 | 39,785 |
| National Association of Almshouses costs | 3,670 | - | 3,670 | 3,650 |
| £297,664 | £25,105 | £322,769 | £318,023 |
| General | Supported | 2019 | |
|---|---|---|---|
| Needs | Housing | Total | |
| Turnover | |||
| Residents' contributions receivable: | |||
| Maintenance | 129.609 | 969.892 | 1.099.501 |
| Less voids | (480) | (5.465) | (5.945) |
| Service charges (not eligible for housing benefit): | |||
| Heating and hot water | - | 133,026 | 133.026 |
| Catering | - | 89.029 | 89.029 |
| Electricity | - | 18.666 | 18.666 |
| Less voids | (1.160) | (1.160) | |
| Housing Related Support | - | 73.943 | 73,943 |
| Amortised government grants | - | 67.291 | 67.291 |
| 129.129 | 1.345,222 | 1.474.351 | |
| Operating expenditure | |||
| Services: Heating and hot water | - | 68.271 | 68,271 |
| Services: Catering | - | 74,360 | 74,360 |
| Electricity (for communal areas) and water | 287 | 79.990 | 80,277 |
| Wardens, cleaners and gardeners | - | 411,282 | 411,282 |
| Speech Call Alarm systems | - | 28.897 | 28,897 |
| Routine maintenance | 6.190 | 104,708 | 110,898 |
| Cyclical maintenance | 6.824 | 93.237 | 100,061 |
| Major repairs and improvements | 4.406 | 121,731 | 126137 |
| Building depreciation | 39.427 | 161.437 | 200,864 |
| Other costs | 35 | 7,704 | 7.739 |
| 57.169 | 1.151.617 | 1,208,786 | |
| Management and administration (Note 2b) | 23,488 | 294,535 | 318.023 |
| 80.657 | 1.446.152 | 1,526.809 | |
| Operating surplus(deflcit) | £48.472 | (£100,930) | (£52.458) |
| Management | Governance | 2019 | ||
|---|---|---|---|---|
| Staff costs | K | 213.403 | 11.232 | 224.635 |
| Office expenses | 25,339 | 1,334 | 26.673 | |
| Staff training and recruitment | 3.085 | - | 3,085 | |
| Auditors' remuneration (Note 7) | 4,800 | 11,008 | 15,808 | |
| Legal and professional fees | 3.307 | 1,080 | 4,387 | |
| Insurance | 39,785 | - | 39,785 | |
| National Association of Almshouses | costs | 3.650 | - | 3,650 |
| £293,369 | £24.654 | £318,023 |
| **3. ** | INVESTMENT INCOME | ||
|---|---|---|---|
| 2020 | 2019 | ||
| Rents receivable from investmentproperties | 66,879 | 100,435 | |
| Income from endowedassetinvestments | 137,537 | 180,663 | |
| Income from currentassetlisted investments | 39,963 | 23,254 | |
| Accumulated income on currentassetlisted investments | 73,717 | 71,569 | |
| Other interest | 4,946 | 11,090 | |
| £323,042 | £387,011 | ||
| **4. ** | RAISING FUNDS | ||
| 2020 | 2019 | ||
| Investmentmanagementfees | 15,729 | 21,245 | |
| Investment property expenditure | 12,481 | 3,112 | |
| £28,210 | £24,357 | ||
| **5. ** | INTEREST PAYABLE | ||
| 2020 | 2019 | ||
| Interest on Housing Loans (partly repayable in more thanfiveyears) | £15,125 | £15,227 |
| a. | Employee Numbers | 2020 | 2019 | ||
|---|---|---|---|---|---|
| Fulltime | Part time | Fullfime | Part time |
||
| Officestaff | 4 | 1 | 4 | 1 |
|
| Almshouse staff-wardens, cleaners, cooks | 7 | 20 | 7 | 19 |
|
| BuildingsMaintenance Officer | 1 | 1 | |||
| 12 | 21 | 12 | 20 |
||
| Totalfull-time equivalent | 22 | 22 | |||
| b. | Staff Costs | 2020 | 2019 | ||
| Salaries | 608,359 | 581,667 | |||
| Socialsecurity costs | 46,681 | 44,648 | |||
| Pension costs | 28,008 | 26,925 | |||
| £683,048 | £653,240 |
| SURPLUS ON ORDINARY ACTIVITIES Thisis stated after charging: |
||
|---|---|---|
| 2020 | 2019 | |
| Depreciafionofalmshouse and office buildings | £204,964 | £201,753 |
| Depreciationofothertangiblefixedassets | £10,982 | £6,185 |
| WelfareGrants: | ||
| Toindividuals | 25,076 | 19,416 |
| TootherCharities in the Salisbury area: | ||
| Elderly | 1,462 | |
| Vulnerableand homeless | 3,241 | 1,500 |
| £28,317 | £22,378 | |
| Auditors'remuneration: | ||
| Intheir capacity as auditors | 11,058 | 11,008 |
| Fortaxation andotherservices | 1,440 | 4,800 |
| £12,498 | £15,808 | |
| Andafter crediting: | ||
| Grants received fromWilliamBofieyCharity | £9,031 | £7,404 |
| Management fees charged to | ||
| WilliamBotley Charity | £450 | £540 |
| SalisburyCityEducational and Apprenticing Charity | £180 | £300 |
| Housing Properties | |||||
|---|---|---|---|---|---|
| MrsSarah | Buchanan | StMary | |||
| Hayter's | Housing | Magdalen's | |||
| General | Charity | Charity | Hospital | Total | |
| Cost | |||||
| AtI January 2020 | 6,864,167 | 957,000 | 1,971,329 | 451,048 | 10,243,544 |
| Additions | 43,278 | 89,144 | 132,422 | ||
| Disposals | |||||
| At31December 2020 | 6,907,445 | 957,000 | 1,971,329 | 540,192 | 10,375,966 |
| Depreciation | |||||
| At1January 2020 | 2,493,191 | 363,653 | 434,566 | 16,800 | 3,308,210 |
| Charge for the year | 137,098 | 19,140 | 39,427 | 8,400 | 204,065 |
| Disposals | |||||
| At31December 2020 | 2,630,289 | 382,793 | 473,993 | 25,200 | 3,512,275 |
| Net book value | |||||
| At31December 2020 | £4,277,156 | £574,207 | £1,497,336 | £514,992 | £6,863,691 |
| AtIJanuary 2020 | £4,370,976 | £593,347 | £1,536,763 | £434,248 | £6,935,334 |
| **31 ** | December 2020 | |||||||
|---|---|---|---|---|---|---|---|---|
| Sheltered housing | 178 | 11 | - | - | 189 | |||
| Wardens'houses | 6 | - | - | - | 6 | |||
| Generalneedshousing | - | - | 24 | 6 | 30 | |||
| 184 | 11 | 24 | 6 | 225 | ||||
| 31 | December 2019 | |||||||
| Sheltered housing | 178 | 11 | - | - | 189 | |||
| Wardens'houses | . | . | . | 6 | ||||
| Generalneedshousing | - | - | 24 | 6 | 30 | |||
| 184 | 11 | 24 | 6 | 225 |
| Offices - Freehold Land and Buildings | |
|---|---|
| lotal | |
| Cost | |
| At1January 2020 and31December 2020 | 44,960 |
| Depreciation | |
| At1January 2020 | 17,984 |
| Charge for the year | 899 |
| At31December 2020 | 18,883 |
| Net book value | |
| At31December 2020 | £26,077 |
| At1January 2020 | £26,976 |
| Three | Two | ||
|---|---|---|---|
| Shops | Houses | Total | |
| Valuationas at1January 2020 | 1,060,000 | 520,000 | 1,580,000 |
| Unrealisedgains/(losses) on revaluation | (205,000) | 25,000 | (180,000) |
| Valuationas at31December 2020 | £855,000 | £545,000 | £1,400,000 |
| d. Fixed Asset Investments |
||||
|---|---|---|---|---|
| Blechynden | ||||
| General | andBrown | MrsSarah | ||
| Endowment | Almshouse | Hayter's | ||
| Fund | Charity | Charity | Total | |
| Market value at I January 2020 | 5,273,128 | 8,872 | 2,591 | 5,284,591 |
| Additions | 495,092 | - | - | 495,092 |
| Disposals | (496,828) | - |
- | (496,828) |
| Investment income accumulated | 526 | - | - | 526 |
| Investmentmanagementfees | (9,152) | - |
- | (9,152) |
| Unrealisedgains/(losses) on revaluation | (79,462) | 570 |
167 | (78,725) |
| Market value at31December 2020 | £5,183,304 | £9,442 | £2,758 | £5,195,504 |
| Historiccost: At31December 2020 |
£3,858,395 | £6,198 | £1,622 | £3,866,215 |
| At31December 2019 | £3,654,018 | £6,198 | £1,622 | £3,661,838 |
| Themarket value at31December 2020 wasmadeup as | follows: | |||
| Charitable common investment funds | 1,992,477 | 9,442 | 2,758 | 2,004,677 |
| Listedinvestments: | ||||
| UKfixedinterest | 234,461 | - | - | 234,461 |
| UKequities | 2,933,298 | - | - | 2,933,298 |
| Cash | 23,068 | - | - | 23,068 |
| £5,183,304 | £9,442 | £2,758 | £5,195,504 | |
| ENDOWMENTS RECOUPED ^ |
Blechynden | |||
| Investments held in Charitable | andBrown | MrsSarah | ||
| Common Investment Funds | Almshouse | Hayter's | ||
| Charity | Charity | Total | ||
| Market value at1January 2020 | 21,341 | 55,450 | 76,791 | |
| Capitalrecouped (Note 17) | 70 | 1,200 | 1,270 | |
| Unrealisedgains/(losses) on revaluation | 2,101 | 5,544 | 7,645 | |
| Market value at31December 2020 | £23,512 | £62,194 | £85,706 | |
| Historiccost: At31December 2020 |
£12,453 | £24,169 | £36,622 | |
| At31December 2019 | £12,383 | £22,969 | £35,352 |
| OTHER FIXED ASSETS Equipment, Furniture, Fixtures and Fittings |
|||
|---|---|---|---|
| Almshouses | Offices | Total | |
| Cost | |||
| Asat1January 2020 | 179,748 | 55,024 | 234,772 |
| Additions | 13,793 | 3,619 | 17,412 |
| Disposals | - | - | - |
| Asat31December 2020 | 193,541 | 58,643 | 252,184 |
| Depreciation | |||
| Asat1January 2020 | 163,314 | 39,840 | 203,154 |
| Charge for the year | 6,810 | 4,172 | 10,982 |
| Disposals | - | - | - |
| Asat31December 2020 | 170,124 | 44,012 | 214,136 |
| Net Book Value | |||
| At31December 2020 | £23,417 | £14,631 | £38,048 |
| At1January 2020 | £16,434 | £15,184 | £31,618 |
| DEBTORS | 2020 | 2019 |
|---|---|---|
| Residents' contributions inarrears | 4,134 | 4,300 |
| Otherdebtors | 5,462 | 8,003 |
| Prepayments | 37,668 | 34,909 |
| £47,264 | £47,212 |
| 12. | CURRENT ASSET INVESTMENTS | |||||
|---|---|---|---|---|---|---|
| Buchanan | StMary | General | Extraordinary | |||
| Housing | Magdalen's | Unrestricted | Repair | |||
| Charity | Hospital | Fund | Fund | Total | ||
| Market value at1January 2020 | 275,937 | 551,151 | 4,391,655 | 1,832,590 | 7,051,333 | |
| Additions | 62,152 | - | 535,550 | - | 597,702 | |
| Disposals | - | - | (358,411) | - | (358,411) | |
| Income accumulated | - | - | 2,632 | 71,286 | 73,918 | |
| Investmentmanagementfees | - | - | (7,288) | - | (7,288) | |
| Othermovementin cash | - | - | (181,772) | - | (181,772) | |
| Unrealisedgains/(losses) | 32,353 | 39,598 | 322,848 | (129,605) | 265,194 | |
| Market value at 31 December 2020 | £370,442 | £590,749 | £4,705,214 | £1,774,271 | £7,440,676 | |
| Historiccost: | ||||||
| At31December 2020 | £171,920 | £488,312 | £4,477,858 | £1,405,776 | £6,543,866 | |
| At31December 2019 | £109,768 | £488,312 | £4,435,403 | £1,334,490 | £6,367,973 | |
| Themarket value at31December 2020 | wasmadeupasfollows: | |||||
| Common Investment Funds | 370,442 | 590,749 | 2,588,694 | 1,774,271 | 5,324,156 | |
| Listedinvestments: | ||||||
| Equities | - | 1,576,996 | 1,576,996 | |||
| Fixedinterest | 456,479 | 456,479 | ||||
| Cash | - | - | 83,045 | - | 83,045 | |
| £370,442 | £590,749 | £4,705,214 | £1,774,271 | £7,440,676 |
| CREDITORS: Amounts falling due within one year | ||
|---|---|---|
| 2020 | 2019 | |
| Housing loans | 1,162 | 1,048 |
| Residents' contributions received inadvance | 4,605 | 4,866 |
| Rents received in advance | 16,670 | 7,207 |
| Other creditors | 80,811 | 75,533 |
| Deferredincome - Governmentgrants | 67,291 | 67,291 |
| Accruals | 109,238 | 51,894 |
| £279,777 | £207,839 |
| CREDITORS: Amounts falling due after more than one year | ||
|---|---|---|
| 2020 | 2019 | |
| Housing loans for: | ||
| Gloucester House (interestrate11.375%) | 75,885 | 76,555 |
| TrinityHospital (interestrate9.5%) | 66,166 | 66,658 |
| Deferredincome - Governmentgrants | 1,957,785 | 2,025,076 |
| £2,099,836 | £2,168,289 |
| Theloans are secured on the respective developments and havefixedratesof interest.Theyare repayable, by | Theloans are secured on the respective developments and havefixedratesof interest.Theyare repayable, by | Theloans are secured on the respective developments and havefixedratesof interest.Theyare repayable, by |
|---|---|---|
| half-yearlyinstalments, over 60 yearsuntil2044 (Gloucester House) | and 2049(TrinityHospital). | |
| Thetotalamountrepayable after more thanfiveyears was | £137,750 | £137,750 |
| Deferred income | 2020 | 2019 |
| Brought forward at1January 2020 | 2,092,366 | 2,159,657 |
| Released in the year | (67,291) | (67,291) |
| Deferredin the year | - | - |
| Carriedforward at 31 December 2020 | £2,025,075 | £2,092,366 |
| PROVISIONS FOR LIABILITIES AND CHARGES | 2020 | 2019 |
| Brought forward pensionliabilityat1January 2020 | 31,625 | 49,292 |
| Unwindingofthe discount factor | 320 | 582 |
| Deficitcontribution paid | (6,023) | (6,159) |
| Impact ofchangein assumption and contribution schedule | 454 | (12,090) |
| Carriedforward pensionliabilityat 31 December 2020 | £26,376 | £31,625 |
| termsoftheagreement. | ||
|---|---|---|
| Income and expenditure impact | 2020 | 2019 |
| Unwindingofthe discount factor | 320 | 582 |
| Impact ofchangein assumption and contribution schedule | 454 | (12,090) |
| £774 | (£11,508) | |
| Assumptions | 2020 | 2019 |
| Rate of discount | 0.27% | 1.13% |
| ENDOWED CAPITAL - 2020 | Blechynden | ||||
|---|---|---|---|---|---|
| General | andBrown | MrsSarah | StMary | ||
| Endowment | Almshouse | Hayter's | Magdalen's | 2020 | |
| Fund | Charity | Charity | Hospital | Total | |
| Balanceas at1January 2020 | 7,080,163 | 8,872 | 39,791 | 403,200 | 7,532,026 |
| Transferofassets | - | - | - | - | - |
| Depreciation of buildings | (7,589) | - | (1,200) | (8,400) | (17,189) |
| Investmentmanagementfees | (9,152) | - | - | - | (9,152) |
| Investment income accumulated | 526 | - | - | - | 526 |
| Realisedgain/(loss) on disposal | |||||
| ofinvestments | (1,737) | - | - | - | (1,737) |
| Unrealisedlosses on revaluation | |||||
| ofinvestmentproperties | (180,000) | - | - | - | (180,000) |
| Unrealisedlosses on investments | (79,461) | 570 | 166 | - | (78,725) |
| Balanceas at31December 2020 | £6,802,750 | £9,442 | £38,757 | £394,800 | £7,245,749 |
| ENDOWED CAPITAL - 2019 | Blechynden | ||||
| General | and Brown | Mrs Sarah | St Mary | ||
| Endowment | Almshouse | Hayter's | Magdalen's | 2019 | |
| Fund | Charity | Charity | Hospital | Total | |
| Balance as at 25 December 2018 | 6.425.589 | 7,637 | 40,629 | 411.600 | 6,885.455 |
| Transfer of assets | - | - | - | - | - |
| Depreciation of buildings | (7.589) | - |
(1,200) | (8,400) |
(17.189) |
| Investment management fees | (14.945) | - |
- | - | (14,945) |
| Investment income accumulated | 472 | - | - | - | 472 |
| Realised gain/(loss) on disposal | |||||
| of investments | 45,181 | - | - | - | 45,181 |
| Unrealised losses on revaluation | |||||
| of investment properties | (50.000) | - |
- | - | (50.000) |
| Unrealised losses on investments | 681,455 | 1,235 | 362 | - | 683,052 |
| Balance as at 31 December 2019 | £7.080.163 | £8.872 | £39.791 | £403.200 | £7.532.026 |
| RESTRICTED FUNDS - 2020 | |||||
|---|---|---|---|---|---|
| SCAWC | MrsSarah | Buchanan | StMary | ||
| Almshouse | Hayter's | Housing | Magdalen's | 2020 | |
| Charities | Charity | Charity | Hospital | Total | |
| (Note 18.3a) (Note 18.3b) | (Note 18.3c) | ||||
| Contributions from residents | 268,548 | 71,265 | 135,415 | 2,306 | 477,534 |
| Investment income | 57,986 | 3,624 | 12,175 | 13,494 | 87,279 |
| Other income | - | 1,351 | - | - | 1,351 |
| Legaciesanddonations | - | - | - | - | - |
| Expenditure | (227,835) | (72,452) | (99,618) |
(3,120) | (403,025) |
| Net income | 98,699 | 3,788 | 47,972 | 12,680 | 163,139 |
| Realisedgains on investments | - | - | - | - | - |
| Unrealisedgains on investments | (101,431) | (6,039) | 11,139 | 38,677 | (57,654) |
| Net movement in fundsbeforetrai | (2,732) |
(2,251) | 59,111 | 51,357 | 105,485 |
| Transferfrom unrestricted funds | 41,110 | - | - | - | 41,110 |
| Endowedcapital recouped | - | (1,200) | - | - | (1,200) |
| Balanceatl January 2020 | 2,255,132 | 403,126 | 2,362,799 | 868,620 | 5,889,677 |
| Balanceat 31 December 2020 | £2,293,510 | £399,675 | £2,421,910 | £919,977 | £6,035,072 |
| Thefund balances include the following unrealised gains/(losses): | |||||
| Asat31December 2020 | (£101,431) | (£6,039) | £11,139 | £38,677 | (£57,654) |
| Asat1January 2020 | £173,497 | £10,329 | £82,866 | £60,718 | £327,410 |
| RESTRICTED FUNDS - 2019 |
|||||
|---|---|---|---|---|---|
| SCAWC | Mrs Sarah | Buchanan | St Mary | ||
| Almshouse | Hayter's | Housing | Magdalen's | 2019 | |
| Charities | Charity | Charity | Hospital | Total | |
| (Note 18.4a) | (Note 18.4b) | (Note 18.4c) | |||
| Contributions from residents | 271,359 | 72.621 | 129,129 | 3.495 | 476.604 |
| Investment income | 57,867 | 3.703 | 12,310 | 8.196 | 82.076 |
| Other income | - | 1,388 | - | - | 1.388 |
| Legacies and donations | 4,100 | - | - | - | 4.100 |
| Expenditure | (185,165) | (65,280) | (80,655) | (6.751) | (337.851) |
| Net income | 148,161 | 12,432 | 60,784 | 4,940 | 226.317 |
| Realised gains on investments | - | - | 47.560 | - | 47.560 |
| Unrealised gains on investments | 173,497 | 10.329 | 82.866 | 60,718 | 327.410 |
| Net movement in funds before Iransfe, | 321,658 |
22.761 | 191.210 | 65,658 | 601.287 |
| Transfer from unrestricted funds | 43,861 | - | - | - | 43,861 |
| Endowed capital recouped | - | (1,200) | - | - | (1,200) |
| Balance at 25 December 2018 | 1,889,613 | 381,565 | 2,171.589 | 802,962 | 5,245,729 |
| Balance at 31 December 2019 | £2.255.132 | £403,126 | £2.362.799 | £868.620 | £5.889.677 |
| Specific | Cyclical | Extraordinary | |||
|---|---|---|---|---|---|
| Almshouse | Maintenance | Repair | |||
| Funds | Fund | Fund | Total | ||
| Contributions fromresidents | 165,325 | 103,223 | 268,548 | ||
| Investment income accumulated | 1,098 | 56,888 | 57,986 | ||
| Legaciesanddonations | |||||
| Expenditure | (2,926) | (141,347) | (83,562) | (227,835) | |
| Net income | (2,926) | 25,076 | 76,549 | 98,699 | |
| Transferfrom Unrestricted Funds | 41,110 | 41,110 | |||
| Unrealisedgains/(losses) on investments | (101,431) | (101,431) | |||
| Netmovementin funds | (2,926) | 25,076 | 16,228 | 38,378 | |
| Balanceat1January 2020 | 9,581 | 391,234 | 1,854,317 | 2,255,132 | |
| Balanceat 31 December 2020 | £6,655 | £416,310 | £1,870,545 | £2,293,510 | |
| b. Mrs Sarah Hayter's Charity-2020 |
|||||
| Cyclical | Extraordinary | ||||
| General | Maintenance | Repair | Property | ||
| Fund | Fund | Fund | Fund | Total | |
| Contributions fromresidents | 49,049 | 15,587 | 6,629 | 71,265 | |
| Investment income | 79 | 105 | 3,440 | 3,624 | |
| (Dtherincome | 1,351 | 1,351 | |||
| Expenditure | (44,197) | (6,664) | (3,651) | (17,940) | (72,452) |
| Net income | 6,282 | 9,028 | 6,418 | (17,940) | 3,788 |
| Unrealisedgains on investments | (6,039) | (6,039) | |||
| Endowedcapitalrecouped | (1,200) | (1,200) | |||
| LoanfromSCAWCrepaid | (12,000) | 12,000 | |||
| Netmovementin funds | (6,918) | 9,028 | 379 | (5,940) | (3,451) |
| Balanceat1January 2020 | 57,965 | 38,736 | 129,573 | 176,852 | 403,126 |
| Balanceat31December 2020 | £51,047 | £47,764 | £129,952 | £170,912 | £399,675 |
| c. Buchanan Housing Charity - 2020 |
|||||
| Cyclical | Extraordinary | ||||
| General | Maintenance | Repair | Property | ||
| Fund | Fund | Fund | Fund | Total | |
| Contributions fromresidents | 105,375 | 18,393 | 11,647 | 135,415 | |
| Investment income | 102 | 303 | 11,770 | 12,175 | |
| Expenditure | (30,163) | (25,757) | (4,272) | (39,426) | (99,618) |
| Net income | 75,314 | (7,061) | 19,145 | (39,426) | 47,972 |
| Realisedgains on investments | |||||
| Unrealisedgains on investments | 32,353 | (21,214) | 11,139 | ||
| Additions of housingproperty | |||||
| Netmovementin funds | 107,667 | (7,061) | (2,069) | (39,426) | 59,111 |
| Balanceat1January 2020 | 376,964 | 111,866 | 337,206 | 1,536,763 | 2,362,799 |
| Balanceat31December 2020 | £484,631 | £104,805 | £335,137 | £1,497,337 | £2,421,910 |
| Specific | Cyclical | Extraordinary | |||
|---|---|---|---|---|---|
| Almshouse | Maintenance | Repair | |||
| Funds | Fund | Fund | Total | ||
| Contributions from residents | - | 164,358 | 107,001 | 271,359 | |
| Investment income accumulated | - | 2,070 | 55,797 | 57,867 | |
| Legacies and donations | 4,100 | - | - | 4,100 | |
| Expenditure | (6.431) | (92,435) | (86,299) | (185,165) | |
| Net income | (2,331) | 73,993 | 76,499 | 148,161 | |
| Transfer from Unrestricted Funds | - | - | 43,861 | 43,861 | |
| Unrealised gains/(losses) on investments | - | - | 173,497 | 173,497 | |
| Net movement in funds | (2,331) | 73,993 | 293,857 | 365,519 | |
| Balance at 25 December 2018 | 11,912 | 317,241 | 1,560,460 | 1,889,613 | |
| Balance at 31 December 2019 | £9,581 | £391,234 | £1,854,317 | £2,255,132 | |
| b. Mrs Sarah Hayter's Charity |
-2019 | ||||
| Cyclical | Extraordinary | ||||
| General | Maintenance | Repair | Property | ||
| Fund | Fund | Fund | Fund | Total | |
| Contributions from residents | 57,347 | 7,834 | 7,440 | - | 72,621 |
| Investment income | 78 | 199 | 3,426 | - | 3,703 |
| Other income | 1,388 | - | - | - | 1,388 |
| Expenditure | (46.105) | (3.103) | 1,868 | (17,940) | (65,280) |
| Net income | 12,708 | 4,930 | 12,734 | (17.940) | 12,432 |
| Unrealised gains on investments | - | - | 10,329 | - | 10,329 |
| Endowed capital recouped | (1.200) | - | - | - | (1,200) |
| Loan fhom SCAWC repaid | (12,000) | - | - | 12,000 | |
| Net movement in funds | (492) | 4,930 | 23.063 | (5,940) | 21,561 |
| Balance at 25 December 2018 | 58,457 | 33,806 | 106,510 | 182,792 | 381,565 |
| Balance at 31 December 2019 | £5^.965 | £38.736 | £129.573 | £176.852 | £403.126 |
| c. Buchanan Housing Charity |
- 2019 | ||||
| Cyclical | Extraordinary | ||||
| General | Maintenance | Repair | Property | ||
| Fund | Fund | Fund | Fund | Total | |
| Contributions from residents | 90.614 | 22.595 | 15,920 | - | 129.129 |
| Investment income | 220 | 587 | 11,503 | - | 12.310 |
| Expenditure | (28.462) | (8.360) | (4,406) | (39.427) | (80.655) |
| Net income | 62.372 | 14,822 | 23,017 | (39.427) | 60.784 |
| Realised gains on investments | 47.560 | - | - | - | 47.560 |
| Unrealised gains on investments | 46.578 | - | 36,288 | - | 82.866 |
| Additions of housing property | (457.746) | - | - | 457.746 | - |
| Net movement in funds | (301.236) | 14,822 | 59,305 | 418.319 | 191.210 |
| Balance at 25 December 2018 | 678.200 | 97,044 | 277,901 | 1.118,444 | 2.171.589 |
| Balance at 31 December 2019 | £376.964 | £111,866 | £337.206 | £1.536.763 | £2.362,799 |
| Almshouse | ||||
|---|---|---|---|---|
| Development | ||||
| Internal | and | |||
| Property | Improvement | General | ||
| Fund | Fund | Fund | Total | |
| Surpluson unrestricted funds | 37,942 | 37,942 | ||
| Incomecredited to designated funds | 23,215 | (23,215) | ||
| Expenditurecharged to designated funds | ||||
| Almshouseimprovements | ||||
| Depreciationofalmshouses | (63,117) | 63,117 | ||
| Almshousedevelopments | 43,278 | (43,278) | ||
| Recoupmentofboilersandcapital | (41,180) | (41,180) | ||
| Repaymentofhousingloans | 1,048 | (1,048) | ||
| RepaymentofloantoSarah Hayter's Charity | (12,000) | 12,000 | ||
| Appropriationofsurplus | 36,390 | (36,390) | ||
| Realisedgains/(losses)on investments | (32,504) | (32,504) | ||
| Unrealisedgains/(losses)on investments | 322,848 | 322,848 | ||
| Pensionscheme gains | ||||
| Pension deficittransfer | (6,023) | 6,023 | ||
| Netmovement in funds | (30,791) | 312,648 | 5,249 | 287,106 |
| Balanceat1January 2020 | 2,314,051 | 4,492,072 | 328,375 | 7,134,498 |
| Balanceat31December2020 | £2,283,260 | £4,804,720 | £333,624 | £7,421,604 |
| UNRESTRICTED FUNDS - 2019 |
||||
|---|---|---|---|---|
| Almshouse | ||||
| Development | ||||
| Internal | and | |||
| Property | Improvement | General | ||
| Fund | Fund | Fund | Total | |
| Surplus on unrestricted funds | 156,495 | 156,495 | ||
| Income credited to designated funds | 18,841 | (18,841) | ||
| Expenditure charged to designated funds | ||||
| Almshouse improvements | (28,882) | 28,882 | ||
| Depreciation of almshouses | (59,907) | 59,907 | ||
| Almshouse developments | 139,703 | (139,703) | ||
| Recoupment of boilers | (43,931) | (43,931) | ||
| Repayment of housing loans | 946 | (946) | ||
| Repayment of loan to Sarah Hayter's Charity | (12.000) | 12,000 | ||
| Appropriation of surplus | 181,566 | (181,566) | ||
| Realised gains/flosses) on investments | 202,442 | 202,442 | ||
| Unrealised gains/flosses) on investments | 499,914 | 499,914 | ||
| Pension scheme gains | 11,508 | 11,508 | ||
| Pension deficit transfer | (17,667) | 17,667 | ||
| Net movement in funds | 68,742 | 740,019 | 17,667 | 826,428 |
| Balance at 25 December 2018 | 2,245,309 | 3,752,053 | 310,708 | 6,308,070 |
| Balance at 31 December 2019 | £2,314,051 | £4,492,072 | £328,375 | £7,134,498 |
| Unrestricted | Restricted | Endowment | ||
|---|---|---|---|---|
| Funds | Funds | Funds | Total | |
| FixedAssets | ||||
| Almshouses | 4,058,441 | 2,155,736 | 649,514 | 6,863,691 |
| Offices | 25,810 | 267 | 26,077 | |
| Investmentproperties | 1,400,000 | 1,400,000 | ||
| Investments | 5,281,210 | 5,281,210 | ||
| E F F & F | 38,048 | 38,048 | ||
| 4,122,299 | 2,155,736 | 7,330,991 | 13,609,026 | |
| Currentassetinvestments | 4,705,214 | 2,735,462 | 7,440,676 | |
| Other currentassets | 632,785 | 1,511,169 | 464 | 2,144,418 |
| Current liabilities | (279,777) | (279,777) | ||
| Longterm liabilities | (2,099,836) | (2,099,836) | ||
| Loanto Mrs Sarah Hayter's Charity | 367,295 | (367,295) | ||
| Provisions | (26,376) | (26,376) | ||
| £7,421,604 | £6,035,072 | £7,331,455 | £20,788,131 |
| Unrestricted | Restricted | Endowment | ||
|---|---|---|---|---|
| Funds | Funds | Funds | Total | |
| Fixed Assets | ||||
| Almshouses | 4,144,681 | 2.123.958 | 666.695 | 6.935.334 |
| Offices | 25,801 | 276 | 26.077 | |
| Investment properties | 1.530.000 | 1.530.000 | ||
| Investments | 6.089,517 | 6.089.517 | ||
| EFF&F | 31.618 | 31.618 | ||
| 4,202,100 | 2.123.958 | 8.286,488 | 14.612.546 | |
| Current asset investments | 5.112.848 | 2.730.220 | 7.843.068 | |
| Other current assets | 568,302 | 1.485.336 | 464 | 2.054.102 |
| Current liabilities | (206.791) | (206.791) | ||
| Long term liabilities | (2.169,337) | (2,169.337) | ||
| Loan to Mrs Sarah Hayter's Charity | 379.295 | (379.295) | ||
| Provisions | (13.958) | (13.958) | ||
| £7.872.459 | £5,960.219 | £8.286.952 | £22.119.630 |
| Unrestricted | Restricted | Endowment | Total | |||
|---|---|---|---|---|---|---|
| Note | Funds | Funds | Funds | 2019 | ||
| INCOME FROM |
||||||
| Charitable Activities | ||||||
| Turnover | ||||||
| Residents' contributions | 2 | 859,728 | 473.389 | 1.333.117 | ||
| Housing Related Support | 2 | 70,728 | 3.215 | _ | 73.943 | |
| Government grant income | 2 | 67,291 | 67.291 | |||
| 997.747 | 476.604 | - | 1,474,351 | |||
| Surplus on disposal | - | - | - | - | ||
| Donations and legacies | 23,584 | 4.100 | - | 27.684 | ||
| Investments | 3 | 304.463 | 82.076 | 472 | 387.011 | |
| Other income | 49,487 | 1.388 | - | 50.875 | ||
| ' | Total income | 1,375.281 | 564.168 | 472 | 1.939.921 | |
| EXPENDITURE ON |
||||||
| Raising Funds | ||||||
| Investment costs | 4 | 9.412 | 14,945 | 24.357 | ||
| Charitable Activities | ||||||
| Almshouse operating costs | 2 | 896,477 | 295.120 | 17,189 | 1.208.786 | |
| Almshouse management | 2 | 275,292 | 42.731 | 318.023 | ||
| Interest | 5 | 15,227 | 15.227 | |||
| 1,186,996 | 337.851 | 17,189 | 1,542.036 | |||
| Welfare grants | 7 | 22,378 | 22.378 | |||
| 1,209,374 | 337.851 | 17.189 | 1.564.414 | |||
| Total expenditure | 1,218,786 | 337.851 | 32.134 | 1.588.771 | ||
| Net income/(expenditure) before gains | 156,495 | 226.317 | (31,662) | 351.150 | ||
| OTHER GAINS AND LOSSES | ||||||
| Realised gains/(losses) on disposal: | ||||||
| Investments | 202,442 | 47,560 | 45.181 | 295.183 | ||
| Unrealised gains/flosses) on revaluation: | ||||||
| Investments | 499,914 | 327.410 | 696.157 | 1,523,481 | ||
| Investment properties | (50.000) | (50.000) | ||||
| Pension scheme liability | 11,508 | 11,508 | ||||
| Net income/expenditure | 870,359 | 601,287 | 659.676 | 2.131.322 | ||
| Transfers between funds | 18 | (43,931) | 42.661 | 1.270 | ||
| Net movement in funds | 826,428 | 643,948 | 660.946 | 2,131,322 | ||
| Fund balances at 25 December 2018 | 6 308,070 | 5.245.729 | 6.947.871 | 18.501.670 | ||
| Fund balances at 31 December 2019 | £7,134,498 | £5,889,677 | £7.608.817 | £20,632.992 |