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|Contents||||Page|
|---|---|---|---|---|
|Reference and administrative|||information||
|Report ofthe|trustee||||
|Independent|Auditors|Report||5-6|
|Statement
of|financial|activities|||
|Balance sheet|||||
|Notes forming|part of|the financial statements||9-15|
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|||Notes|Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|
||||funds|funds|funds|2021|2020|
||||6|6|6|6|6|
|Income and endowments|from|||||||
|Donations
and grants|||500||350,000|350,500|100|
|Charitable
activities:||||||||
|Residents'
contributions|||0||54,513|54,513|49,693|
|Investment
income|||3,202||13,334|16,536|38,594|
|Other income|||4,150||0|4,150|0|
|Total incoming
resources|||7,852|0|417,847|425,699|88,387|
|Expenditure||||||||
|Cost ofraising funds||||||||
|Investment
management|costs||1,244||3,984|5,228|6,604|
|Charitable
activities:||||||||
|Poland House expenses|||0||72,685|72,685|69,507|
|ERF expenditure|||0||9,579|9,579|11,734|
|Amenity
land expenses|||0||3,895|3,895|4,833|
|Poland Fund grants|||9,480||0|9,480|5,950|
|Total expenditure|||10,724|0|90,143|100,867|98,628|
|Net income (expenditure)|before|||||||
|investment
gains (losses)|||(2,872)||327,704|324,832|(10,241)|
|Net gains (losses) on investments|||34,604||106,779|141,383|(10,364)|
|Net income (expenditure)|||31,732||434,484|466,215|(20,605)|
|Transfers
between funds|||(373,753)||373,753|0|0|
|Net movement
in funds|||(342,021)|0|808,237|466,215|(20,605)|
|Reconciliation
offunds||||||||
|Total funds
brought
forward|||442,025|106,775|1,416,276|1,965,076|1,985,681|
|Total funds carded forward|||100,004|106,775|2,224,513|2,431,292|1,965,076|
||||Notes|Unrestricted|Reslrlohm|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|2021|2020|
|Fixed assets|||||||||
|Tangible assets
Irwestments|||10
11|307,M4
145,258|toe,7re
0|1,248,957
394,857|1,$63,536
540,115|760,357
1,269,673|
|Total Ibad assets||||453,082|106,775|1,643,814|2,203,651|2.030.030|
|Cuwent assets|||||||||
|Cash atbank
SCCdeposg held
Amount due to Endowment||Fund||506,214
0
0|0
0
0|0
48,500
898,502|806,214
4$,500
$98,502|3,231
0
285,858|
|Total current annals
Cred$om: amounts|faolng due wlthln|||606,214|0|947,002|1,553,216|268,869|
|ons )mar
Amount due by Rasewe Fund|||12|eo,reg
898,502||6,304
0|67,073
898,502|6$,185
285,65$|
|Net euwent asatds|(gabglges)|||(353.057)|0|940,898|587,841|(64,954)|
|Deferred Babgmss|||||||||
|Roland Meadow wants|||||||||
|Total net assets||||100,005|108,775|2,224.512|2.431,291|1,985.078|
|Funds|||13||||||
|Endowment
Fund||||0|0|2,224,513|2,224,513|1,418,276|
|Restrioted funds:|||||||||
|Peddeg Fund
Male Vsgey Counog||||0
0|108,775
0|0
0|105,775
0|10$,775
0|
|Unreslrloted
funds:|||||||||
|Conengenoy
Fund||||30,000||0|30,000|30,000|
|Erd aon$nsry Repas Fund||||50,000||0|50.000|50,000|
|Housing
Fund|||||||||
|Reseve Fund||||20,004||0|20,004|12,025|
|||||100,004|10$,775|2224,513|2.43'l,292|1,965.076|
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||The accounts ofthe|The accounts ofthe|The accounts ofthe|The accounts ofthe|charity, which|charity, which|charity, which|charity, which|is a public benefit entity under
FRS 102,have been|is a public benefit entity under
FRS 102,have been||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||prepared||in accordance||||with the|Charities SORP (FRS102)'Accounting
and Reporting
by||||||
||Charities:||Statement|||of|Recommended
Practice applicable to charities
preparing
their|||||||
||accounts|in accordance|||||with the|Financial
Reporting Standard
applicable
in the UK and||||||
||Republic|of Ireland|||(FRS102)(effective 1January 2019)', Financial
Reporting Standard
102|||||||||
||'The Financial
Reporting||||||Standard||applicable
in the UK and Repubhc of Ireland'
and with|||||
||the Charities Act 2011.The accounts|||||||||have been prepared
under the historical cost||||
||convention||with items recognised||||||at cost or transaction
value unless otherwise
stated|||||
||in the relevant notes|||||to|these accounts.|||||||
||The trustee considers|||||that there are||||no material
uncertainties
about the charity's||||
||ability to|continue||as||a going concern and its functioning
has been unaffected
by Covid.||||||||
||Financial|Reporting|||Standard 102-|||||reduced disclosure exemptions||||
||The charity has taken|||||advantage||ofthe following
disclosure
exemption
in prepanng
these||||||
||financial|statements,||||as|permitted||by FRS 102 '1he Financial
Reporting Standard
applicable|||||
||to the UK||and Republic||||of Ireland':|||||||
||||||||-the requirements
ofSection 7Statement ofCash Flows.|||||||
|2.Accounting|policies|||||||||||||
|(a)|Income|||||||||||||
||Recognition ofincome|||||||||Income is included
in the Statement
of Financial Activities when||||
|||||||||||the charity becomes entitled to the resources;
it is more likely||||
|||||||||||than not the trustee
will receive the resources;
and the||||
|||||||||||monetary
value can be measured
with reliability.||||
||Grants and donations|||||||||Revenue Grants are included
and shown separately
in the SOFA as|||income|
|||||||||||ofrestricted
funds where appropriate.
Donations
are accounted||for when||
|||||||||||the Charity
is legally entitled to the income and it can be reasonably||||
|||||||||||quantified.
Donations to the charity other than in cash are valued,|||using|
|||||||||||reasonable
estimates
ifnecessary, and treated as two transactions|||-a|
|||||||||||receipt offunds and a purchase
using or expenditure
from such funds. The||||
|||||||||||other accounting
policies (capital expenditure,
allocation to||||
|||||||||||restricted/unrestricted
funds) are then applied to each ofthese notional||||
|||||||||||transactions.
Any such donations
which are significant
in value in||the||
|||||||||||context ofthe accounts are detailed seperately
in notes to the accounts.||||
||Investment||income|||||||Investment
income is accounted
for when received.||||
||Investment||gains and|||losses||||All gains and losses are taken to the Statement of Financial||||
|||||||||||Activities as they arise. Realised gains and losses on||||
|||||||||||investments
are calculated
as the difference
between
sales||||
|||||||||||proceeds and their opening
carrying value or their purchase||||
|||||||||||value if acquired subsequent
to the first day ofthe financial|year|||
|||||||||||Linrealised
gains and losses are calculated
as the difference||||
|||||||||||between the fair value at the year end and their carrying value.||||
|||||||||||Realised
and unrealised
investment
gains and losses are||||
|||||||||||combined
in the Statement of Financial
Activities.||||
||Allocation|||||||||Investment
income and investment
gains and losses are split||||
|||||||||||between the endowment
and reserve funds on the basis ofthe||||
|||||||||||value ofthe respective
funds at the beginning
ofthe finanual||||
|||||||||||year, excluding
the Peddell
Fund which was specific to the||||
|||||||||||building ofthe Peddell Wvm.||||
|||Notes|to the accounts for the year to 30th June 2021|||
|---|---|---|---|---|---|
|Expenditure||and liabilities||||
|Liability recognition|||Liabilities are recognised where
it is more likely than not there||is|
||||a legal or constructive
obligation
committing
the charity to pay|||
||||out resources and the amount ofthe obligation
can be|||
||||measured
with reasonable
certainty.|||
|Allocation of|||Governance
costs comprise
all costs involving the public|||
|governance||costs|accountability
ofthe charity and its compliance
with regulation|||
||||and good practice. Governance
costs have been allocated
fully|||
||||to the main charitable
activity.|||
|Cost of raising funds|||The cost ofgenerating
funds consist of investment
management|||
||||costs.|||
|Charitable|activities||Costs ofcharitable
activities include governance
costs and|||
||||direct support costs.|||
|Grants payable without|||These are only recognised
in the accounts when a commitment|||
|performance||conditions|has been made and there are no conditions to be met relating||to|
||||the grant which
remain
in the control ofthe charity|||
||||Grants are issued
in line with the trusts governing
document,|||
||||at the discretion ofthe trustees for individuals
and insititutions||in|
||||hardship
&need.|||
|Assets||||||
|Tangible fixed assets|||These are capitalised
ifthey can be used for more than one|||
|for use by the charity|||year, and cost at least ES00.They are valued at cost less|||
||||depreciation.|||
||||The charity's
policy is to maintain
property to a high standard|||
||||and the Extraordinary
Repair Fund
is intended
to provide|||
||||sufficient funds to maintain
and refurbish
the buildings
at|||
||||appropriate
times. In accordance
with this practice|||
||||depreciation
is not provided
on freehold
buildings
where,
in|||
||||the opinion ofthe trustee, the residual values are such that|||
||||any depreciation
charge would be immaterial
to the year and|||
||||on a cumulative
basis. The asset has been tested for|||
||||impairment,|||
||||Furniture
and equipment
is written offat 2S/ ofthe|||
||||reducing
balance each year over the estimated
useful life.|||
|Investments|||Investments
are a form of basic financial
instrument
and are|||
||||initially recognised attheir transaction
value and subsequently|||
||||measured
at their fair value as at the balance sheet date using|||
||||the closing quoted
market price. The Statement of Financial|||
||||Activities includes the net gains and losses arising on|||
||||revaluation
and disposals throughout
the year.|||
||||The charity does not acquire put options, derivatives
or other|||
||||complex financial instruments.|||
||||The main form offinancial
risk faced by the charity
is that of|||
||||volatility
in equity markets
and investment
markets
due to wider|||
||||economic conditions, the attitude ofinvestors to investment|risk,||
||||and changes
in sentiment
concerning
equities
and within|||
||||particular sectors or sub-sectors.|||
|Debtors|||Have been accounted
for at cost as they fall due,|||
||||11|||
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||||Not|es|to|th|e accounts for the||year to 30th June 2|021||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||2021|2020|
|3.Analysis ofincome||||||||||||
|Investment||income|||||Dividends -|UK equities||12,979|22,567|
||||||||Dividends
—Overseas equities|||3,440|2,842|
||||||||Interest
—UK||fixed interest||11,657|
||||||||Interest on|cash deposits||117|1,528|
|||||||||||16,536|38,594|
|Charitable||activities|||||Residents'
contributions|||54,513|49,693|
|Donations||8 Grants|||||Land Valued||donated|350,000|0|
|4.Cost ofraising funds||||||||||2021|2020|
|Investment||management|||fees|||||5,228|6,604|
|5.Analysis ofcharitable||activities||||||||2021|2020|
|Charitable||activities funded||||by|endowment|||||
|||Poland House|||||Wardens'
salary|||18,947|18,477|
||||||||Wardens'
expenses|||650|1,050|
||||||||Community|alarm||3,573|3,269|
||||||||Water rates|||3,940|2,045|
||||||||Electricity and gas|||12,858|9,420|
||||||||Insurance|||1,354|1,336|
||||||||Repairs and|renewals||14,898|16,714|
||||||||Garden maintenance|||9,141|9,422|
||||||||Sundry expenses|||1,408|3,341|
||||||||Depreciation|||395|527|
||||||||Governance||costs|5,520|3,906|
|||||||||||72,685|69,507|
|||Other|||||Amenity
land|||3,895|4,833|
|Charitable|activities funded|||||by|unrestricted
funds|||||
|||Other|||||ERF expenditure|||9,579|11,734|
||||||||Poland
fund||grants|9,480|5,950|
|||||||||||19,059|17,684|
|Poland fund Grant|||||||Individuals|||7,980|5,950|
||||||||Institutions|||1,500||
|||||||||||9,480|5,950|
|6.Allocation ofgovernance|||costs|||||||2021|2020|
||||||||||||E|
|Stationery|and||telephone|||||||1,220|1,406|
|Independent||Auditor's||fees||||||4,300|2,500|
|||||||||||5,520|3,906|
|||||||2021|2020|
|---|---|---|---|---|---|---|---|
|and numbers||||||||
|Salaries and wages||||||18,947|18,477|
|Social security|costs|||||||
|The average number ofemployees|||during the year was 2(2020: 2) with|||all employee||
|time involved|in providing|support|services to charitable||activities.|||
|No employee|received emoluments||or employee|benefits|in excess of660,000(2020:0)|||
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|---|---|---|---|---|
|8.Grantmaking|||2021|2020|
|Grants made in accordance|with the objectives ofthe charity||9,480|5,950|
|9.Comparatives
for the Statement of Financial Activities|||Endowment
IE||
|||Unrestricted|Restricted|Total|
|||funds|funds|funds|
|Income and endowments|from:||||
|Donations||100||100|
|Charitable
activities.|||||
|Residents'
contributions|||49,693|49,693|
|Investment
income||7,652|30,942|38,594|
|Total incoming resources||7,752|80,635|88,387|
|Expenditure|||||
|Cost ofraising funds|||||
|Investment
management|costs|1,592|5,012|6,604|
|Charitable
activities:|||||
|Poland House expenses|||69,507|69,507|
|ERFexpenditure|||11,734|11,734|
|Amenity
land expenses||0|4,833|4,833|
|Poland
Fund grants||5,950|0|5,950|
|Total expenditure||7,542|91,086|98,628|
|Net income (expenditure)|before||||
|investment
gains (losses)||210|(10,451)|(10,241)|
|Net gains (losses) on investments||(2,456)|(7,908)|(10,364)|
|Net Income (expenditure)||(2,246)|(18,359)|(20,605)|
|Transfers between
funds||(10,451)|10,451||
|Net movement
in funds||(12,697)|(7,908)|(20,605)|
|Reconciliation
offunds|||||
|Total funds brought
forward||454,722|1,530,959|1,985,681|
|Total funds carried forward||442,025|1,523,051|1,965,076|
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|10.Tangible fixed assets|||||
|---|---|---|---|---|
|||Land &|Furniture
&|Total|
|||buildings|equipment||
|Cost||E|E||
|At 1stJuly 2020||758,775|13,696|772,471|
|Additions||903,574|0|903,574|
|At 30th June 2021||1,662,349|13,696|1,676,045|
|Depreciation|||||
|At 1stJuly 2020|||12,114|12,114|
|Charge forthe year|||395|395|
|At 30th June 2021||0|12,509|12,509|
|Net book value|||||
|At 30th June 2021||1,662,349|1,187|1,663,536|
|At 30th June 2020||758,775|1,582|760,357|
|11.Investments|||2021|2020|
||||E|E|
|Market value at 1stJuly 2020|||1,269,673|1,404,502|
|Acquisitions
at cost|||0|53,794|
|Transfers|||(273,438)|89,189|
|Retained income|||(5,788)|5,535|
|Sales proceeds from disposals|||(591,715)|(272,983)|
|Gain (loss) in the year|||141,385|(10,364)|
|Market value at 30th June 2021|||540,117|1,269,673|
|Investments
at market value comprised:|||||
|UK equities|||315,193|517,496|
|Overseas equities|||78,983|138,573|
|COIF Charities Investment
Fund|||1,125|952|
|COIF Charities
Fixed Interest|Fund||0|188,610|
|Cash deposits|||683|105,032|
|COIF Charities Deposit Fund|||144,133|319,010|
||||540,117|1,269,673|
|12.Creditors: amounts
falling due within|one year||2021|2020|
||||E|E|
|Accruals|||6,304|7,423|
|Held in custody for Sidney Michael Poland Charity no. 200254|||60,769|60,762|
||||67,073|68,185|
|Analysis of||Balance|Income|Expenditure|Transfers|Gains and|Funds|
|---|---|---|---|---|---|---|---|
|fund||b/fwd||||losses|c/fwd|
|movements||6||6|E||E|
|Permanent||||||||
|endowment||1,416,276|417,847|(90,143)|373,753|1D6,780|2,224,513|
|Restricted||||||||
|fund||106,775||||0|106,775|
|Unrestricted||||||||
|fund||442,025|7,852|(10,724)|(373,753)|34,604|100,004|
|Total||1,965,076|425,699|(1D0,867)|0|141,384|2,431,292|
|Analysis ofcharitable|funds|—previous year||||||
|Analysis of||Balance|Income|Expenditure|Transfers|Gains and|Funds|
|fund||b/fwd||||losses|c/fwd|
|movements||E|||||E|
|Permanent||||||||
|endowment||1,424,184|80,635|(91,086)|10,451|(7,908)|1,416,276|
|Restricted||||||||
|fund||106,775|||0|0|106,775|
|Unrestricted||||||||
|fund||454,722|7,752|(7,542)|(10,451)|(2,456)|442,025|
|Total||1,985,681|SS,3S7|(98,628)|0|(10,364)|1,965,076|
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