|Report ofthe Trustees|1|to|7|
|---|---|---|---|
|Report ofthe Independent
Auditors|8|to|9|
|Statement ofFinancial
Activities||10||
|Balance Sheet||||
|Cash Flow Statement||12||
|Notes to the Cash Flow Statement||13||
|Notes to the Financial Statements|14|to|22|
|Detailed Statement ofFinancial Activities|23|to|24|
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||||||2021|2020|
|---|---|---|---|---|---|---|
||||||Unrestricted|Total|
||||||funds|funds|
|||||Notes|||
|INCOME AND ENDOWMENTS|||FROM||||
|Donations
and legacies|||||64,875|50,561|
|Investment
income|||||840,943|774 948|
|Total|||||905,818|825,509|
|EXPENDITURE|ON||||||
|Raising funds|||||128,448|101,598|
|Charitable
activities|||||||
|Almshouses|||||657,932|716,873|
|Total|||||786,380|818,471|
|Net gains/(losses)|on investments||||583,632|~2,534,506)|
|NET INCOME/(EXPENDITURE)|||||703 070|(2 507468)|
|Other recognised
Actuarial
gains on|gains/(losses)
defined benefit schemes|||||34,968|
|Net movement
in|funds||||703,070|(2,472,500)|
|RECONCILIATION||OF FUNDS|||||
|Total funds brought||forward|||25,729,755|28,202,255|
|TOTAL FUNDS|CARRIED FORWARD||||26,432,825|25,729,755|
##
|||2021|2020|
|---|---|---|---|
|||Unrestricted|Total|
|||funds|funds|
||Notes|||
|FIXEDASSETS||||
|Tangible assets
Investments|10
11|4,077,562
22,065,972|3,901,154
21,701,658|
|||26,143,534|25,602,812|
|CURRENT ASSETS||||
|Debtors|12|186,570|113,223|
|Cash at bank and in hand||416,100|338,861|
|||602,670|452,084|
|CREDITORS||||
|Amounts
falling due within one year|13|(246,994)|(258,195)|
|NET CURRENT ASSETS||355,676|593 889|
|TOTAL ASSETS LESSCURRENT||||
|LIABILITIES||26,499,210|25,796,701|
|CREDITORS||||
|Amounts
falling due after more than one year|14|(66,385)|(66,946)|
|NET ASSETS||26,432,825|25,729,755|
|FUNDS|17|||
|Unrestricted
funds||26432,825|25,729,755|
|TOTAL FUNDS||26,432,825|25,729,755|
##
##
||||||2021|2020|
|---|---|---|---|---|---|---|
|||||Notes|||
|Cash flows from operating
activities
Cash generated
from operations
Interest paid|||||(695,278)
~7,238|(744,552)
~7288|
|Net cash used in operating|activities||||~702,516)|~751,840)|
|Cash flows from investing
activities
Purchase offixed asset investments|||||(3,604,260)|(500,000)|
|Sale offixed asset investments|||||3,543,578|653,358|
|Sale ofinvestment
property
Rents received|||||689,496|(3,358)
643,478|
|Dividends
Ec interest|||||150,998|131,295|
|Interest received|||||34|90|
|Dividends
received|||||415|85|
|Net cash provided
by investing
activities|||||780261|924,948|
|Cash flows from financing
Loan repayments
in year||activities|||~506)|~455)|
|Net cash used in financing||activities|||~506)|~455)|
|Change
in cash and cash
the reporting
period||equivalents|in||77,239|172,653|
|Cash and cash equivalents||at the|||||
|beginning
ofthe reporting||period|||338,861|166,208|
|Cash and cash equivalents||at the end|of||||
|the reporting
period|||||416,100|338,861|
##
##
##
|OPERATING ACTIVIT|I|ES|||||
|---|---|---|---|---|---|---|
||||||2021|2020|
|Net income/(expenditure)
for the reporting
Statement ofFinancial Activities)|||period (as per the||703,070|(2,507,468)|
|Adjustments
for:
Depreciation
charges
(Gain)/losses
on investments|||||103,592
(583,632)|97,997
2,514,506|
|Interest received|||||(34)|(90)|
|Interest paid
Dividends
received|||||7,238
(415)|7,288
(85)|
|Rents received|||||(689,496)|(643,478)|
|Dividends
and interest received|||||(150,998)|(131,295)|
|Actuarial
movement||||||(2,963)|
|Assets transferred
from Dears Almshouse||||||37,931|
|(Increase)/decrease
in debtors
Decrease
in creditors|||||(73,347)
~11,256|7,770
~124,665)|
|Net cash used in operations|||||~695,278)|~744 552)|
|ANALYSIS OF CHANGES IN NET FUNDS|||||||
|||||At 1.1.21|Cash flo|At31.12.21|
|Net cash|||||||
|Cash at batik and in hand||||338,861|77,239|416,100|
|||||338,861|77,239|416,100|
|Debt|||||||
|Debts falling due within
Debts falling due after I|1 year
year|||(505)
~66,946)|(55)
561|(560)
~66 385)|
|||||~67,45 1)|506|~66,945)|
|Total||||271,410|77,745|349,155|
##
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##
##
##
##
|DONATIO|NS
AND LE|GACIES|||
|---|---|---|---|---|
||||2021|2020|
|Resident's|contribution||62,033|31,269|
|Grants||||17,007|
|Donations|from visitors||2,842|2,285|
||||64,875|50,561|
|Grants received, included||in the above, are as follows:|||
||||2021|2020|
|Job Retention
Scheme||||16,407|
|Chichester|District Council|||600|
|||||17,007|
|INVESTMENT INCOME|||||
||||2021|2020|
|Rents received|||689,496|643,478|
|Dividends|&interest||150,998|131,295|
|Guest room rental|||415|85|
|Deposit account interest|||34|90|
||||840,943|774,948|
##
##
##
|4.|RAISING FUNDS|RAISING FUNDS||||||
|---|---|---|---|---|---|---|---|
||Investm ent managem ent costs|||||2021|2020|
||Property
repairs
Professional
charges
Insurance|||||69,850
50,761
4, 174|67,990
24,017
3,152|
||Rates||||||1,459|
||Heat &Light|||||3 663|4 980|
|||||||128448|101598|
|5.|CHARITABLE ACTIVITIES COSTS|||||||
||||||Grant|||
||||||funding of|||
||||||activities|Support||
|||||Direct|(see note|costs (see||
|||||Costs|6)|note 7)|Totals|
||Almshouses|||456,167|25,000|176,765|657,932|
|6.|GRANTS PAYABLE|||||||
|||||||2021|2020|
||Almshouses|||||25,000|25,000|
||The total grants paid to institutions||during|the year was as follows:||2021|2020|
||Christian
Care Association|||||25,000|25,000|
|7.|SUPPORT|COSTS||||||
|||||||Governance||
|||||Management|Finance|costs|Totals|
||Almshouses|||138,094|7,618|31,053|176765|
##
##
##
|STAFF COSTS||||||
|---|---|---|---|---|---|
|||||2021|2020|
|Wages and salaries
Social security costs
Other pension costs||||112,869
9,758
22,632|164,113
10,847
26,816|
|||||145259|201,776|
|The average monthly|number ofemployees|during|the year was as follows:|||
|||||2021|2020|
##
|TANGIBLE FIXEDASSETS||||
|---|---|---|---|
||Freehold|St Mary' s||
||property|Lodge|Totals|
|COST||||
|At 1st Januaiy 2021
Reclass ification|4,568,410
280 000|397,725|4,966,135
280,000|
|At 31stDecember 2021|4,848,410|397,725|5,246, 135|
|DEPRECIATION||||
|At 1st Januaiy 2021
Charge for year|846,224
96,968|218,757
6,624|1,064,981
103,592|
|At 31stDecember 2021|943,192|225,381|1,168,573|
|NET BOOK VALUE||||
|At 31stDecember 2021|3,905,218|172,344|4,077,562|
|At 31stDecember 2020|3,722,186|178,968|3,901,154|
##
##
|FIXED ASSET INVESTMENTS||||
|---|---|---|---|
||Listed|Investment||
||investments|Properties|Totals|
|MARKET VALUE||||
|At 1stJanuary 2021
Additions|3,194,158
3,604,260|18,507,500|21 701 658
3,604,260|
|Disposals
Revaluations
Reclassification/transfer|(3,194,158)
234,212|~280,000)|(3,194,158)
234,212
~280,000)|
|At 31st December 2021|3,838472|18,227, 500|22,065,972|
|NET BOOK VALUE||||
|At 31stDecember 2021|3,838,472|18,227 500|22,065,972|
|At 31st December 2020|3,194,158|18,507,500|21,701,658|
||||Listed|Investment||
|---|---|---|---|---|---|
||||investments|Properties|Totals|
|Valuation|in|2021|3,838,472|18,227,500|22,065,972|
##
|DEB|TORS:AMOUNTS FALLING DUE WIT|HIN ONE YEAR||
|---|---|---|---|
|||2021|2020|
|Trade|debtors|49,596|62,686|
|Other|debtors|136,974|50,537|
|||186,570|113,223|
##
##
##
|CREDITORS: AMOUNTS FALLING DUE WITHIN|ONE YEAR||
|---|---|---|
||2021|2020|
|Other loans (see note 15)
Trade creditors|560
31,726|505
25,355|
|Social security and other taxes
Rent deposits
Accruals and deferred income|2,634
74,312
137,762|1,698
39,972
190665|
||246 994|258,195|
##
||||||2021|2020|
|---|---|---|---|---|---|---|
||Other loans (see note 15)||||66,385|66,946|
|5.|LOANS||||||
||An analysis ofthe maturity|ofloans is given below:|||||
||||||2021|2020|
||Amounts
falling due within
Housing
corporation
loan||one year on demand:||560|505|
||Amounts
falling between
Other loans - 1-2 years|one and two years:|||622|560|
||Amounts
falling due between two and five
Other loans -2-5 years|||years:|2,310|2,081|
||Amounts
falling due in more than five years:||||||
||Repayable
by instalments:
Other loans more 5yrs instal||||63,453|64,305|
|16.|SECURED DEBTS||||||
||The following
secured debts are included|||within creditors:|||
||||||2021|2020|
||Housing
corporation
loan||||66,945|67,451|
##
##
##
##
|MOVEMEN|T IN FUNDS||||
|---|---|---|---|---|
||||Net||
||||movement|At|
|||At 1.1.21|in funds|31.12.21|
|Unrestricted|funds||||
|General fund||25,479,755|703,070|26,182,825|
|Extraordinary|repair fund - designated|250 000||250 000|
|||25,729 755|703,070|26,432 825|
|TOTAL FUNDS||25,729 755|703,070|26 432,825|
||||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|---|
||||resources|expended|losses|in funds|
|Unrestricted|funds||||||
|General fund|||905,818|(786,380)|583,632|703,070|
|TOTAL FUNDS|||905,818|(786,380)|583,632|703,070|
|Comparatives|for movement|in funds|||||
|Compara|tives|for m|ovem|e|nt
in funds||||
|---|---|---|---|---|---|---|---|---|
||||||||Net||
||||||||movement|At|
|||||||At 1.1.20|in funds|31.12.20|
|Unrestricted||funds|||||||
|General|fund|||||27,952,255|(2,472,500)|25,479,755|
|Extraordinary||repair|fund|-|designated|250,000||250,000|
|||||||28,202,255|~2,472,500)|25,729,755|
|TOTAL|FUNDS|||||28 202,255|~2,472,500)|25,729,755|
||||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|---|
||||resources|expended|losses|in funds|
|Unrestricted||funds|||||
|General|fund||825,509|(818,471)|(2,479,538)|(2,472,500)|
|TOTAL|FUNDS||825,509|~818,471)|~2,479,538)|~2,472,500)|
##
##
||||Net||
|---|---|---|---|---|
||||movement|At|
|||At 1.1.20|in funds|31.12.21|
|Unrestricted|funds||||
|General fund||27,952,255|(1,769,430)|26,182,825|
|Extraordinary|repair fund - designated|250,000||250 000|
|||28,202 255|~1769,430)|26432,825|
|TOTAL FUNDS||28,202,255|~1,769430)|26,432 825|
|as follow|s:||||||
|---|---|---|---|---|---|---|
||||Incoming|Resources|Gains and|Movement|
||||resources|expended|losses|in funds|
|Unrestricted||funds|||||
|General|fund||1,731,327|(1,604,851)|(1,895,906)|(1,769,430)|
|TOTAL|FUNDS||1,731,327|(1,604,851)|(1,895,906)|(1,769,430)|
##
##
##
##
|||2021|2020|
|---|---|---|---|
|INCOME AND ENDOWMENTS||||
|Donations
and legacies
Resident's
contribution||62,033|31,269|
|Grants|||17,007|
|Donations
f'rom visitors||2,842|2285|
|||64,875|50,561|
|Investment
income||||
|Rents received||689,496|643,478|
|Dividends
& interest||150,998|131,295|
|Guest room rental||415|85|
|Deposit account interest||34|90|
|||840,943|774,948|
|Total incoming
resources||905,818|825,509|
|EXPENDITURE||||
|Investment
management
Property
repairs
Professional
charges
Insurance|costs|69,850
50,761
4,174|67,990
24,017
3,152|
|Rates|||1,459|
|IIeat &, Light||3,663|4,980|
|||128,448|101,598|
|Charitable
activities||||
|Wages
Social security
Pensions||112,869
9,758
22,632|164,113
10,847
26,816|
|Rates and water||25,439|18,694|
|Insurance||17,687|13,626|
|Light and heat
Sundries||63,599
15,385|49,013
9,702|
|Garden expenses
Repairs & maintenance
Outings & trips
Rent||12,517
63,965
7,430
754|7,181
44,955
5,882
3,016|
|Other staff costs||540|957|
|Depn ofSt Mary's Courtyard
Depn ofSt Mary's Lodge
Grants to institutions||96,968
6,624
25,000|91,368
6,629
25,000|
|||481,167|477,799|
##
##
|||||2021|2020|
|---|---|---|---|---|---|
|Support costs||||||
|Management
Telephone
Postage and stationery||||7,901|9,787
126|
|Administration
and financial||services|ofDean|||
|and Chapter ofChichester|Cathedral|||130,193|159149|
|||||138,094|169,062|
|Finance
Bank charges
Loan||||380
7,238|410
7 288|
|||||7,618|7,698|
|Governance
costs||||||
|Auditors'
remuneration||||9,000|8,800|
|Accounting
services
Legal fees||||8,491
13,562|53,514|
|||||31,053|62,314|
|Total resources expended||||786,380|818,471|
|Net income before gains and||losses||119,438|7,038|
|Realised recognised
gains and losses
Realised gains/(losses)
on fixed asset
Realised gains/(losses)
on investment|||investments
property|349,420|(27,473)
~3,358)|
|Netincome/(exenditure)||||468,858|~23,793)|