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||||Contents||
|---|---|---|---|---|
|Reference and Administrative||Details|||
|Trustees' Report||||2to 5|
|Statement ofTrustees'|Responsibilities||||
|Independent
Auditors'|Report|||7to 10|
|Statement ofFinancial|Activities|||11to 12|
|Balance Sheet||||13|
|Cash Flow Statement||||14|
|Notes to the Financial|Statements|||15to 28|
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|||||Reference and Administrative|Reference and Administrative|Reference and Administrative|Reference and Administrative|Reference and Administrative|Reference and Administrative|Details|
|---|---|---|---|---|---|---|---|---|---|---|
|Ex-Officio||Trustees||Reverend
Andrew|||Langley (appointed 21 July 2021)||||
|Nominative||Trustees||Mr JH O'Keeffe|||||||
|||||Ms Dawn Shepherd|||(appointed|||1 April 2021)|
|||||Mr RSpringett|(resigned||||1March 2021)||
|||||Mrs BFleet (resigned||||11January 2022)|||
|Publically||Advertised||Mr DFlowerday||(resigned 26 April 2021)|||||
|||||Mr JEllwood|||||||
|||||Mr RGoodall|||||||
|||||Mr A Jarrold|||||||
|||||Mr JSutton-Scott-Tucker|||||||
|||||Mr G Lucas (appointed|||||26 April|2021)|
|Charity Registration|||Number|203402|||||||
|Principal|Office|||First Floor|||||||
|||||3 The Quay|||||||
|||||Dartmouth|||||||
|||||Devon|||||||
|||||TQ6 9PS|||||||
|Auditor||||Thompson
Jenner||LLP|||||
|||||1 Colleton Crescent|||||||
|||||Exeter|||||||
|||||Devon|||||||
|||||EX24DG|||||||
|Solicitors||||Foot Anstey LLP|||||||
|||||2 Glass Wharf|||||||
|||||Bristol|||||||
|||||BS2OFR|||||||
|Bankers||||National
Westminster||||Bank pic|||
|||||Paignton|||||||
|||||15 Victoria St|||||||
|||||Paignton|||||||
|||||Devon|||||||
|||||TQ4 5DE|||||||
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||||2021|2020|
|---|---|---|---|---|
||||f000|%,000|
|Gross property
income received|||520|561|
|Income fiom|other investments||229|179|
|Benefit f'rom|dilapidation
claim|||40|
|Grant income, other income|||||
|Expenditure|on operational
overheads|and governance|(170)|(169)|
|Transfers
and expenditure
funded by||other reserves|25|37|
|Net income,|payable to beneficiaries||609|654|
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|||||||Total|
|---|---|---|---|---|---|---|
|||||Unrestricted|Endowment|2021|
||||Note||||
|Income and Endowments||from:|||||
|Grant income||||2,058||2,058|
|Rental income||||520,387||520,387|
|Investment
income||||229,365||229,365|
|Other income||||3,595||3,595|
|Total income||||755,405||755,405|
|Expenditure
on:|||||||
|Operational
overheads||||(166,738)||(166,738)|
|Appropriation
to beneficiaries||||(608,792)||(608,792)|
|Governance||||(4,875)||(4,875)|
|Total expenditure||||(780,405)||(780,405)|
|Gains/losses
on investment||assets||57,688|1,103,622|1,161,310|
|Net movement
in funds||||32,688|1,103,622|1,136,310|
|Reconciliation
offunds|||||||
|Total funds brought|forward|||407,262|11,122,205|11,529,467|
|Total funds carried|forward||17|439,950|12,225,827|12,665,777|
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|||||||Total|
|---|---|---|---|---|---|---|
|||||Unrestricted|Endowment|2020|
||||Note||||
|Income and Endowments||from:|||||
|Donations
and legacies||||6,196||6,196|
|Rental income||||560,581||560,581|
|Investment
income||||178,866||178,866|
|Other income||||40,032||40,032|
|Total income||||785,675||785,675|
|Expenditure
on:|||||||
|Operational
overheads||||(164,404)||(164,404)|
|Appropriation
to beneficiaries||||(653,645)||(653,645)|
|Governance||||(4,575)||(4,575)|
|Total expenditure||||(822,624)||(822,624)|
|Gains/losses
on investment||assets||11,460|(689,493)|(678,033)|
|Net expenditure||||(25,489)|(689,493)|(714,982)|
|Gross transfers
between|funds|||16,099|(16,099)||
|Net movement
in funds||||(9,390)|(705,592)|(714,982)|
|Reconciliation
offunds|||||||
|Total funds brought
forward||||416,652|11,827,797|12,244,449|
|Total funds carried forward|||17|407,262|11,122,205|11,529,467|
##
##
|||Balance Sheet as at 30|September 2|021||
|---|---|---|---|---|---|
|||||2021|2020|
||||Note|||
|Fixed assets||||||
|Tangible assets|||12|57,199|57,199|
|Investments|||13|12,741,448|11,531,288|
|||||12,798,647|11,588,487|
|Current
assets||||||
|Debtors|||14|180,258|235,996|
|Cash at bank|and in hand|||422,000|317,997|
|||||602,258|553,993|
|Creditors: Amounts||falling due within one year|15|(735,128)|(613,013)|
|Net current|liabilities|||(132,870)|(59,020)|
|Net assets||||12,665,777|11,529,467|
|Funds ofthe|charity:|||||
|Endowment|funds|||12,225,827|11,122,205|
|Unrestricted|income|funds||||
|Unrestricted|funds|||439,950|407,262|
|Total funds|||17|12,665,777|11,529,467|
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|||||2021|2020|
|---|---|---|---|---|---|
||||Note|||
|Cash flows from operating|activities|||||
|Net cash income/(expenditure)||||1,136,309|(714,982)|
|Adjustments
to cash flows||||||
|Investment
income||||(229,365)|(178,866)|
|Profit on disposal ofinvestments||||(336,322)|(212,470)|
|Revaluation
ofinvestments||||(824,987)|890,502|
|||||(254,365)|(215,816)|
|Working capital adjustments||||||
|Decrease in debtors|||14|55,738|29,555|
|Increase/(decrease)
in creditors|||15|122,115|(38,835)|
|Net cash flows from operating||activities||(76,512)|(225,096)|
|Cash flows from investing
activities||||||
|Interest receivable
and similar||income|4|229,365|178,866|
|Purchase ofinvestments|||13|(2,056,595)|(371,171)|
|Sale proceeds ofinvestments||||2,007,745|437,270|
|Net cash flows from investing||activities||180,515|244,965|
|Net increase in cash and cash|equivalents|||104,003|19,869|
|Cash and cash equivalents
at|1|October||317,997|298,128|
|Cash and cash equivalents
at|30 September|||422,000|317,997|
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|2|Income|from|grants, donat|ions
and legacies||||
|---|---|---|---|---|---|---|---|
||||||Unrestricted|||
||||||funds|Total|Total|
||||||General|2021|2020|
|Grants, including|||capital grants;|||||
||Furlough|grant income|||2,058|2,058|6,196|
||||||2,058|2,058|6,196|
|3|Income|from other trading||activities||||
||||||Unrestricted|||
||||||funds|Total|Total|
||||||General|2021|2020|
|Property rental income|||||520,387|520,387|560,581|
||||||520,387|520,387|560,581|
|4|Investment||income|||||
||||||Unrestricted|||
||||||funds|Total|Total|
||||||General|2021|2020|
|Other income fi.om fixed asset||||investments|229,365|229,365|178,866|
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|5
Operation|al
overheads|||||
|---|---|---|---|---|---|
|||||Total|Total|
|||||2021|2020|
|Office Costs||||4,183|3,884|
|Professional|fees|||59,991|44,034|
|Insurance s||||20,773|17,649|
|Irrecoverable|VAT|||||
|Property repairs, maintenance||and|H&S|49,096|51,381|
|Bank charges|||||379|
|Wages and Salaries||||22,950|26,944|
|Pension cost||||2,688|2,503|
|Bad debts written offand provision|||movements|6,612|17,630|
|||||166,738|164,404|
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||||||Total|Total|
|---|---|---|---|---|---|---|
||||||2021|2020|
|Dartmouth|United Charities||||304,396|326,822|
|The Ecclesiastical Share ofThe Dartmouth|||Trust||202,931|217,882|
|The Public|Purposes|Share ofThe Dartmouth||Trust|101,465|108,941|
||||||608,792|653,645|
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|Governance|costs||||||
|---|---|---|---|---|---|---|
||||Unrestricted|Endowment|Total|Total|
||||funds|funds|funds|funds|
||||2021|2021|2021|2020|
|Governance|Auditors'|remuneration|3,000||3,000|3,000|
|Governance|Auditors'|non audit costs|1,875||1,875|1,575|
||||4,875||4,875|4,575|
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||||2021|2020|
|---|---|---|---|---|
|Audit|fees||3,000|3,000|
|Other|non-audit|services|1,875|1,575|
|Profit|on disposal ofinvestments||(229,365)|(178,866)|
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|10 Staff costs
The aggregate
payroll costs were as follows:|||
|---|---|---|
||2021|2020|
|Staff costs during the year were:|||
|Wages and salaries|22,950|26,944|
|Pension costs|2,688|2,503|
||25,638|29,447|
|2021|2020|
|---|---|
|No|No|
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|12 Tangible fixed assets||||
|---|---|---|---|
||Land and|Furniture
and||
||buildings|equipment|Total|
|Cost||||
|At 1 October 2020|57,199|11,578|68,777|
|At 30 September 2021|57,199|11,578|68,777|
|Depreciation||||
|At 1 October 2020||11,578|11,578|
|At 30 September 2021||11,578|11,578|
|Net book value||||
|At 30September 2021|57,199||57,199|
|At 30September 2020|57,199||57,199|
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|13 Fixed asset investments|||
|---|---|---|
||2021|2020|
|Investment
properties|5,740,001|7,160,671|
|Other investments|7,001,447|4,370,617|
||12,741,448|11,531,288|
|Investment
properties|||
|||Investment|
|||properties|
|Cost or Valuation|||
|At 1 October 2020||7,160,671|
|Revaluation||250,753|
|Disposals||(1,671,423)|
|At 30 September 2021||5,740,001|
|Net book value|||
|At 30 September 2021||5,740,001|
|At 30 September 2020||7,160,671|
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|Other investments||||||
|---|---|---|---|---|---|
||||Endowed|Non endowed||
||||investments|investments|Total|
|Cost or Valuation||||||
|At 1 October 2020|||3,854,335|516,282|4,370,617|
|Revaluation|||516,547|57,688|574,235|
|Additions|||2,056,595||2,056,595|
|At 30September 2021|||6,427,477|573,970|7,001,447|
|Net book value||||||
|At 30 September 2021|||6,427,477|573,970|7,001,447|
|At 30 September 2020|||3,854,335|516,282|4,370,617|
|14 Debtors||||||
|||||2021|2020|
|Trade debtors||||101,146|173,855|
|Prepayments
and accrued income||||78,275|62,141|
|Other debtors||||837||
|||||180,258|235,996|
|15 Creditors: amounts|falling due within one year|||||
|||||2021|2020|
|Trade creditors||||17,281|15,398|
|Other taxation and social security||||2,367|8,969|
|Other creditors||||623,928|468,565|
|Accruals and deferred income||||91,552|120,081|
|||||735,128|613,013|
|||||2021|2020|
|Deferred income at 1 October 2020||||115,849|125,874|
|Resources deferred in the period||||87,321|115,849|
|Amounts
released fiom|previous|periods||(115,849)|(125,874)|
|Deferred income at 30 September||2021||87,321|115,849|
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|17 Funds|||||||||
|---|---|---|---|---|---|---|---|---|
||||||||Other|Balance at 30|
|||||Balance at 1|Incoming|Resources|recognised|September|
|||||October 2020|resources|expended|gains/(losses)|2021|
|Unrestricted|funds||||||||
|General|||||||||
|Reserve for|admin|expenses||30,000|755,405|(755,405)||30,000|
|Unrealised|profit|on non-endowed|funds|103,112|||57,688|160,800|
|||||133,112|755,405|(755,405)|57,688|190,800|
|Designated|||||||||
|Property repair reserve||||274,150||(25,000)||249,150|
|Total unrestricted||funds||407,262|755,405|(780,405)|57,688|439,950|
|Endowment|funds||||||||
|Permanent|||||||||
|Endowment|funds|||11,122,205|||1,103,622|12,225,827|
|Total funds||||11,529,467|755,405|(780,405)|1,161,310|12,665,777|
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|||||||||Other|Balance at 30|
|---|---|---|---|---|---|---|---|---|---|
|||||Balance at 1|Incoming|Resources||recognised|September|
|||||October 2019|resources|expended|Transfers|gains/(losses)|2020|
|Unrestricted|funds|||||||||
|General||||||||||
|Reserve for|admin|expenses||30,000|785,675|(801,774)|16,099||30,000|
|Unrealised|profit|on non-endowed|funds|91,652||||11,460|103,112|
|||||121,652|785,675|(801,774)|16,099|11,460|133,112|
|Designated||||||||||
|Property repair reserve||||295,000||(20,850)|||274,150|
|Total unrestricted||funds||416,652|785,675|(822,624)|16,099|11,460|407,262|
|Endowment|funds|||||||||
|Permanent||||||||||
|Endowment|funds|||11,827,797|||(16,099|(689,493)|11,122,205|
|Total funds||||12,244,449|785,675|(822,624)||||
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|18 Analysis ofnet assets between
funds||||
|---|---|---|---|
||Unrestricted|Endowment|2021|
||General|Permanent|Total funds|
|Tangible fixed assets||57,199|57,199|
|Investment
property||5,740,001|5,740,001|
|Fixed asset investments|573,970|6,427,477|7,001,447|
|Current assets|601,108|1,150|602,258|
|Current
liabilities|(735,128)||(735,128)|
|Total net assets|439,950|12,225,827|12,665,777|
||Unrestricted|Endowment|2020|
||General|Permanent|Total funds|
|Tangible fixed assets||57,199|57,199|
|Investment
property||7,160,671|7,160,671|
|Fixed asset investments|516,282|3,854,335|4,370,617|
|Current assets|503,993|50,000|553,993|
|Current liabilities|(613,013||(613,013)|
|Total net assets|407,262|11,122,205|11,529,467|
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|19 Analysis ofnet funds||||
|---|---|---|---|
||||At 30|
||At 1October||September|
||2020|Cash flow|2021|
|Cash at bank and in hand|317,997|104,003|422,000|
|Net debt|317,997|104,003|422,000|
||||At 30|
||At 1October||September|
||2019|Cash flow|2020|
|Cash at bank and in hand|298,128|19,869|317,997|
|Net debt|298,128|19,869|317,997|
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