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2020-12-21-accounts

Reference and Administrative
Details		 Reference and Administrative
Details		 1to2
Trustees'
Report		 3to 8
Statement ofTrustees' Responsibilities
Independent
Auditors'		 Report 9to 12
Statement ofFinancial Activities 13
Balance Sheet 14
Cash Flow Statement 15
Notes to the Financial Statements 16to 32

Trustees 0Chope
PSChristie
Mrs KCorfe (resigned 31/08/2020)
Mrs RCraigie
DJDark (resigned 03/12/2020)
Mrs SJEllis
Mrs JGubb
ARHarper,
(Chairman)
EA Hubber
tungi W G Isaac
Mrs EJunkison
JA McKenzie
+ Vl The Mayor ofBideford, Mr P Christie, Ex-Officio Trustee
Q/ Z P RSims
)
ttt		 tII 0
~		 Other Officers PRSims LL.B.(retired 31/03/2021l, Steward
Mrs SWebster (from 01/04/2021l, Steward
Qt/J~ L C Bird BSC (Hens). M.R.I.C.S. M.F.P.W.S (resigned
Ri 31/12/2020), Warden
DJDark F.R.I.C.S.		 (from 01/04/2021l, Warden
Principal Office 23a The Quay
BIDEFORD
Devon
EX392EZ
Charity Registration Number 204536
Solicitors Bazeley Barnes 8i Bazeley
24 Bridgeland Street
BIDEFORD
Devon
EX392QB
Bankers National
Westminster		 Bank pic
41High Street
BARNSTAPLE
Devon
EX31IDA

2020
Total Total
Unrestricted Endowment 2020 2019
Note
Income and Endowments from:
Other trading
activities		 5
Investment
income		 4 854,084 854,084 836,376
Total income 854,084 854,084 836,381
Expenditure
on:
Raising funds (211,782) 37,591 (174,191) (221,816)
Charitable
activities		 (575,033) (575,033) (582,675)
Other expenditure (1,000) (1,000) (1,000)
Total expenditure (787,815) 37,591 (750,224) (805,491)
Gains/losses
on invesnnent
assets 42,584 1,117,565 1,160,149 1,446,700
Net movement
in funds		 108,853 1,155,156 1,264,009 1,477,590
Reconciliation offunds
Total funds brought forward		 895,353 17,028,347 17,923,700 16,446,110
Total funds carried forward 18 1,004,206 18,183,503 19,187,709 17,923,700

BALANCE SHEET ASAT21DECEMBER2020
2020 2019
Note
Fixed assets
Investments 12 18,187,617 16,757,501
Current assets
Stocks 13 760 760
Debtors 14 72,838 55,826
Investments 15 795,750 753,166
Cash at bank and in hand 16 246,871 486,941
1,116,219 1,296,693
Creditors: Amounts falling due within one year 17 (116,127) (130,494)
Net current assets 1,000,092 1,166,199
Net assets 19,187,709 17,923,700
Funds ofthe
Endowment
Unrestricted		 charity:
funds
income		 funds 18,183,503 17,028,347
Unrestricted
Total funds		 funds 1,004,206
19,187,709		 895,353
17,923,700

CASH FLOW STATEMEN T FORTHE YEARENDED 21DECEM BER2020
2020 2019
Note
Cash flows from operating activities
Net cash income 103,860 30,890
Adjustments
to cash flows from non-cash items
Investment
income		 4 (854,084) (836,376)
(750,224) (805,486)
Working capital adjustments
Decrease in stocks 13 20
Increase in debtors 14 (17,012) (19,475)
(Decrease)/increase
in creditors		 17 (14,367) 17,367
Net cash flows from operating activities (781,603) (807,574)
Cash flows from investing
activities
Interest receivable and similar income 4 854,084 836,376
Purchase of investments
Sale of investments
Net cash flows from investing		 activities 12 (1,190,935)
878,384
541,533		 275,000
1,111,376
Net (decrease)/increase
in cash		 and cash equivalents (240,070) 303,802
Cash and cash equivalents
at
Cash and cash equivalents
at		 22 December
21December		 486,941
246,871		 183,139
486,941

Total Total
2020 2019
Trading income;
Sales ofgoods and services
4 INVESTMENT INCOME
Unrestricted
funds Total Total
General 2020 2019
Interest receivable and similar income;
Interest receivable on bank deposits 407 407 768
+ Vl Other income from fixed asset investments 125,370 125,370 136,603
Q/ Z
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)
0		 Income from rents 728,307
854,084		 728,307
854,084		 699,005
836,376
5 EXPENDITURE ON RAISING FUNDS
Gnarl~
A) INVESTMENT MANAGEMENT COSTS
Unrestricted Endowment
Total Total
General Permanent 2020 2019
Other investment
management		 costs;
Bookpurchases 20
Void rates and water rates 1,862 1,862 334
Lighting
and heating oftrust		 properties 5,546 5,546 3,561
Insurance 15,578 15,578 15,023
Repairs and servicing costs 123,185 123,185 131,744
Printing,
stationery		 and software 376 376 671
Sundry expenses 40 40 40
Cleaning,
gardener		 and caretaker 2,365 2,365 4,208
Warden's
fees		 30,447 30,447 29,999
Steward's fees (50%1 22,580 22,580 22,755
Advertising 1,317 1,317 2,171
Professional
fees		 660 660 4,154
Page 19

Unrestricted Endowment
Total Total
General Permanent 2020 2019
Professional fees 5,958 5,958 2,070
Book-keeping and Xero support 855 855 2,655
Bank charges 1,673 1,673 2,411
(Gain)/loss on progranune related
investments (38,251) (38,251)
211,782 (37,591) 174,191 221,816

6 EXPEN DITURE ON CHARITAB LE ACTIVITIES
Unrestricted
funds
General		 Total
2020		 Total
2019
Grant funding ofactivities 538,208 538,208 547,014
Allocated support costs 1,490 1,490 3,571
Governance costs 35,335 35,335 32,090
575,033 575,033 582,675

Unrestricted
Total Total
General 2020 2019
Bridge Maintenance Order 1,000 1,000 1,000
1,000 1,000 1,000

Unrestricted
funds Total Total
Basis of General 2020 2019
allocation
Support costs A 1,490 1,490 3,571
Governance costs 35,335 35,335 32,090
36,825 36,825 35,661
Support costs allocated to charitable activities
Administration Total Total
costs 2020 2019
Printing and stationery costs
for Torridge Taxi Voucher
Scheme
Administration
costs for
Torridge Taxi Voucher
Scheme		 1,490 1,490 816
2,755
1,490 1,490 3,571

Unrestricted
Total Total
General 2020 2019
Steward's fees (50%1 22,580 22,580 22,755
Accountancy fees 4,000 4,000 3,550
The audit of the charity's annual accounts 8,270 8,270 5,300
Professional indemnity insurance 485 485 485
35,335 35,335 32,090

2020 2019
Name of institution
1stBideford Guides 1,000 1,550
1stWoolsery Scouts 2,000
Appledore
Appledore
Appledore
Appledore		 Band
Book Festival
Community
Hall Trust
Footbag Club		 1,000
4.000
5,000
5,000		 2,000
5,000
2,000
Appledore
Maritime Heritage Trust
Atlantic Racquet Centre
BASICS Devon
Bideford Amateur
Athletic Club		 4.200
5,000
5,000		 5,000
5,000
Bideford Amateur
Boxing Club		 850 1,500
Bideford Amateur
FootbaB Club —Youth		 —Twinning Project 2,000
Bideford Amateur
Footbag Club —Youth		 3,000 6,000
Bideford Amateur
Rowing Club		 5,000 5,000
Bideford and District Comnnuuty Archive 1,280 2,000
Bideford Baptist Church 1,500
Bideford Blues &Appledore
Junior RFC		 6.000 6,000
Bideford College
—battlefield
trip		 2,916
Bideford College
—computers		 28,982
Bideford Grammar
School Old Boys Association		 2.000
Bideford. Littleham &Westward Hoi Cricket Club (Colts Section) 5,000 5,000
Bideford Massed Pipes &Drums 3,000
Bideford Methodist Church 7.500 10,000
Bideford Pilot Gig Club 1,000 2,000
Bideford Railway Heritage Centre 2.500 4,500
Bideford Rugby Club Limited 5,000 5,000
The Bideford Shed (affiliated to the LK Men's Shed Association) 1,000 2,500
Bideford Street Pastors and School Pastors 4.000 4,000
Bideford Town Band 1,500 3,500

Bideford Youth Pipe Band 2.000 2,000
Buckland Brewer Hall 1,000 1,500
Buckland Brewer Methodist Church 2.000
Burton at Bideford 7.000 5,000
Clovelly Pilot Gig Club 2,000
East-the-Water
Comnnuuty
Primary School		 2.670 4,027
Edukid 2.000
Families In Grief 1,600
Grow0Jigsaw Project (Westcountry Housing Association Limited) 7,500
Harbour Bideford 5,000
Holy Trinity Church. Westward Ho! 3,000 1,600
Home-Start Torridge and North Devon 5,000 2,000
Intergr8 CIC 14,000
Instow Primary
School		 2.000
Langtree Parish Hall 2.500
Lavington
United Reform Church		 5,000 5,000
Lemon Jelly Youth Work 3,000 1,500
Littleham Film and Social Club 1,500
Northam
Lions Football Club		 2.000 1,500
+
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z		 Marie Curie (for Bideford and immediate neighbourhocd) 2,500
IE
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)		 gt-
III»
0		 Marie Curie
—emergency
appeal
Noah's Place Care Farm
North Devon Down Syndrome
Association		 10.000
1,500
1,750		 1,750
North Devon Forum for Autism Spectrum Conditions and ADHD 1,800 1,800
QU7~ North Devon Hospice 16.000 16,000
Ri North Devon Museum Trust
North Devon Xmas Fund		 2.000 10,000
Northam
Comnnuuty
Association		 5,000
Northam
Methodist Church		 1,500
Northern
Devon Food Bank		 5,000 2,000
Parkham Playground
Fundraisers		 2.000
PCC ofHoly Trinity Bamstaple 1,500
Rockministry 2.500
School Swimming
Lessons (1610Limited)		 (4,115) 26,687
Transport Costs for School Swimming Lessons (4,500) 9,000
StMary's Parish Church. Bideford 3,500 2,000
StMary's School 10.770
Sandymere
Blues Football Club		 2.500
South West Heritage Trust
—North Devon		 Record Office 6.000 6,000
Steamship
Freshspring
Society		 5,250
Stoke Early Support Discharge Team 3,575
Tarka Child Contact Centre 3,000 3,000
TorrAge
—Ageing WeB Project		 2,000
Torridge District Council
—Playground		 Fund 25,000
Torridge. N Devon. Mid &West Devon Citizens Advice Bureau 5,000 5,000
Torridge Voluntary
Services
—Bideford Volunteer		 Centre 6.500 6,500

Torridgeside
Amateur		 Swimming Swimming Club 2.000 2,000
Westleigh Village Hall 1,500
Westward
Hol Commumty		 Association 5,500
Wings South West 2,000
Grants under g1,500 to institutions 28,975 57,141
Business Start-Ups 160,923 103,285
Taxi Voucher Scheme 11,937 19,102
Book. Bursary. Social and Training 100,861 94,056
538,208 547,014

12FIXEDASSETINVESTMENTS 12FIXEDASSETINVESTMENTS 12FIXEDASSETINVESTMENTS
2020 2019
Investment
properties		 14,944,100 13,084,757
Other investments 3,243,517 3,672,744
18,187,617 16,757,501
INVESTMENT PROPERTIES
Investment
properties
At valuation
At 22 December 2019 13,084,757
Revaluation 943,408
Additions 915,935
At 21 December 2020
Provision
At 21 December 2020		 14,944,100
Net book value
At 21 December 2020 14,944,100
At 21 December 2019 13,084,757
Valuation ofinvestment properties is by an independent valuer.
Purchases
and major refurbishments		 ofproperties in the year are included at cost.

OTHER INVESTMENTS OTHER INVESTMENTS
Other
investments Total
At valuation
At 22 December 2019 3,672,744 3,672,744
Revaluation 174,157 174,157
Additions 275,000 275,000
Disposals (878,384) (878,384)
At 21 December 2020 3,243,517 3,243,517
Net book value
At 21 December 2020 3,243,517 3,243,517
At 21 December 2019 3,672,744 3,672,744
+
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13STOCK		 are in the Charities Official Investment Fund. 2020 2019
Qtr)~
z
V		 Stocks 760 760
13STOCK
2020 2019
Stocks 760 760
14DEBTORS
2020 2019
Trade debtors 40,522 22,296
Prepayments 7,033 7,147
Other debtors 25,283 26,383
72,838 55,826
Debtors includes 23,283 (2019:25,883)receivable after more than one year.
2020 2019
Other debtors 23,283 25,883

15CURRENT ASSETINVESTMENTS 15CURRENT ASSETINVESTMENTS
2020 2019
Charities Official Investment Fund at valuation 795,750 753,166
16CASH AND CASH EQUIVALENTS
2020 2019
Cash on hand 520 1,335
Cash at bank 246,351 485,606
246,871 486,941
17CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
Vl Trade creditors
VAT payable		 25,954
5,427		 24,448
4,045
8
&
 Other creditors
Accruals		 116,127
72,523
12,223		 93,023
8,978
130,494
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19ANALYSIS OF NET ASSETSBETWEEN FUNDS 19ANALYSIS OF NET ASSETSBETWEEN FUNDS
Unrestricted Endowment
funds funds Total funds
General Permanent 2020
Fixed asset investments 18,187,617 18,187,617
Current assets 1,120,333 (4,114) 1,116,219
Current liabilities (116,127) (116,127)
Total net assets 1,004,206 18,183,503 19,187,709
Unrestricted Endowment
funds funds Total funds
General Permanent 2019
Fixed asset investments 16,757,501 16,757,501
Current assets 1,025,497 271,196 1,296,693
+ Vl Current liabilities (130,144) (350) (130,494)
Q/ Z
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)
0		 Total net assets 895,353 17,028,347 17,923,700
20ANALYSIS OFNET FUNDS
Qtr)~ At 22 At 21
Ri December
2019		 Financing
cash flows		 December
2020
Cash at bank and in hand 486,941 (240,070) 246,871
Current asset investments 753,166 42,584 795,750
Net funds 1,240,107 (197,486) 1,042,621
At 22 At 21
December December
2018 Cash flow 2019
Cash at bank and in hand 183,139 303,802 486,941
Current asset investments 644,897 108,269 753,166
Net funds 828,036 412,071 1,240,107