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2020-12-31-accounts

REGISTERED CHARITY NUMBER: 206136

Report of the Trustees and

Financial Statements for the Year Ended 31 December 2020

for

Bromsgrove United Charities

Kenneth Morris Limited Statutory Auditors 1 Aston Court Bromsgrove Technology Park Bromsgrove Worcestershire B60 3AL

Bromsgrove United Charities

Contents of the Financial Statements for the Year Ended 31 December 2020

Page
Report of the Trustees 1 to 3
Report of the Independent Auditors 4 to 5
Statement of Financial Activities 6
Balance Sheet 7 to 8
Notes to the Financial Statements 9 to 17
Detailed Statement of Financial Activities 18 to 19

Bromsgrove United Charities

Report of the Trustees for the Year Ended 31 December 2020

The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The focus of our activities remains the provision of social housing, the management and letting of lands belonging to the charity and the payments of relief in need. The trustees confirm that there have been no changes in the policies adopted by them to achieve the objects of the charity during the year.

In planning our activities for the year, we kept in mind the Charity Commission's guidance on public benefit. The Charity provides a public benefit by alleviating the burden on the community and the local authority by providing warden care to the needy at low rents.

Volunteers

The Charity is dependent on the services of the trustees who receive no remuneration or benefits for their services.

ACHIEVEMENT AND PERFORMANCE

The trustees consider that the performance of the charity this year has been satisfactory and they confirm that assets are available and adequate to fulfil the obligations of the charity.

Good occupancy of the accommodation has been maintained during the year

Routine maintenance has continued during the year.

42 Churchfields Road has remained an investment property during the year.

FINANCIAL REVIEW

Investment policy and objectives

The trustee's investment objective is that the real value of the assets be maintained, and enhanced over the longer term. The trustees receive regular reports on the state of its portfolio, and consider the performance to be satisfactory for the year.

Reserves policy

The policy of the charity is to hold accumulated reserves to provide capital for investment, which in turn provides income to meet costs as they arise. The Charity tries to maintain a break-even situation annually.

Void Rents:

During the year the charity suffered void rents amounting to £5,181 (2019 - £9,956) whilst properties were empty.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Its full objects are defined therein. The charity does not actively fund raise.

A copy of the trust deed can be obtained from the treasurer at the registered office shown on page 2.

The trustees confirm that there have been no changes in the policies adopted by them to achieve the objects of the charity during the year.

Page 1

Bromsgrove United Charities

Report of the Trustees for the Year Ended 31 December 2020

STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees

The trustees are appointed by the Board of Trustees. The trust deed provides for a body of nine competent persons, being two ex-officio trustees, three nominated trustees and four co-opted trustees. The trustees have quarterly meetings at which a quorum of four trustees must be present, to agree the broad strategy and areas of activity for the trust, including consideration of grant making, investment, reserves and risk management policies and performance. The day to day administration is delegated to the treasurer and the clerk to the trustees.

Organisational structure

The trustees delegate the day to day running of the charity to the Hon. Treasurer and the Clerk to the Trustees, Mrs L Hodson. Certain minor repair items are then delegated to the Wardens. Major items are referred to the Trustees.

Bishop Hall's Charity for the Needy

In March 2002, Bromsgrove United Charities took over the assets and income of Bishop Hall's Charity for the Needy and it is now administered under the terms and conditions of the Trust Deed of Bromsgrove United Charities.

Induction and training of new trustees

The board keeps the skill requirements for the trustee body under review and in the event that a trustee permanently retires or additional new trustees are required, the board will endeavour to recruit suitable new trustees. The induction process for any newly appointed trustee comprises an initial meeting, followed by a short meeting(s) to provide a brief history of the trust, copy of committee minutes, copies of prior years annual reports and accounts, a copy of the governing trust deed and a copy of the Charity Commission's guidance for trustees.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

206136

Principal address

Phebe Bell Court 10 The Flats Sidemoor Bromsgrove Worcestershire B61 8LH

Trustees

M Bishop Chairman L Hodges Vice Chairman B Weaving Trustee R Khan Trustee P Rowan Trustee J Hewer Trustee

The board of trustees are authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee. Under the trust deed the body of trustees shall consist of nine competent persons when complete.

Auditors

Kenneth Morris Limited Statutory Auditors 1 Aston Court Bromsgrove Technology Park Bromsgrove Worcestershire B60 3AL

Page 2

Bromsgrove United Charities

Report of the Trustees for the Year Ended 31 December 2020

REFERENCE AND ADMINISTRATIVE DETAILS Bankers

Barclays Bank PLC Worcester High Street Leicester LE87 2BB

Solicitors

Hallmark Hulme 3 Sansome Place Worcester WR1 1UQ

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DONATIONS

Donations totalling £11,000 (2019 - £nil) were received this year, £8,000 of which is to help pay for the replacement of windows at Kathleen Field Court next year.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on 27 May 2021 and signed on its behalf by:

M Bishop - Trustee

Page 3

Report of the Independent Auditors to the Trustees of Bromsgrove United Charities

Opinion

We have audited the financial statements of Bromsgrove United Charities (the 'charity') for the year ended 31 December 2020 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Page 4

Report of the Independent Auditors to the Trustees of Bromsgrove United Charities

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Kenneth Morris Limited Statutory Auditors Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 1 Aston Court Bromsgrove Technology Park Bromsgrove Worcestershire B60 3AL

27 May 2021

Page 5

Bromsgrove United Charities

Statement of Financial Activities

for the Year Ended 31 December 2020

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
3
Housing Activities
Investment income
2
Total
EXPENDITURE ON
Charitable activities
4
Housing Activities
Other
7
Total
Net gains on investments
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds

£
3,000
211,975
30,643
245,618
206,102
27,269
233,371
67,090
79,337
1,434,338
1,513,675		 Restricted
funds
£
8,000
-
-
8,000
-
-
-
-
8,000
-
8,000		 2020
Total
funds
£
11,000
211,975
30,643
253,618
206,102
27,269
233,371
67,090
87,337
1,434,338
1,521,675		 2019
Total
funds
£
-
200,031
20,451
220,482
167,404
28,633
196,037
135,583
160,028
1,274,310
1,434,338

The notes form part of these financial statements

Page 6

Bromsgrove United Charities

Balance Sheet 31 December 2020

Notes
FIXED ASSETS
Tangible assets
10
Investments
11
CURRENT ASSETS
Debtors
12
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
13
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
14
ACCRUALS AND DEFERRED INCOME
17
NET ASSETS		 Unrestricted
funds

£
870,036
1,129,621
1,999,657
493
223,677
224,170
(14,092)
210,078
2,209,735
(94,285)
(601,775)
1,513,675		 Restricted
funds
£
-
-
-
-
8,000
8,000
-
8,000
8,000
-
-
8,000		 2020
Total
funds
£
870,036
1,129,621
1,999,657
493
231,677
232,170
(14,092)
218,078
2,217,735
(94,285)
(601,775)
1,521,675		 2019
Total
funds
£
885,438
862,531
1,747,969
737
402,114
402,851
(16,914)
385,937
2,133,906
(95,190)
(604,378)
1,434,338

The notes form part of these financial statements

continued...

Page 7

Bromsgrove United Charities

Balance Sheet - continued 31 December 2020

FUNDS
18
Unrestricted funds:
General fund
Land & Buildings
Cyclical Maintenance Fund
Extraordinary Repair Fund
Restricted funds
TOTAL FUNDS		 851,017
159,210
182,175
321,273
1,513,675
8,000
1,521,675		 791,801
169,463
177,536
295,538
1,434,338
-
1,434,338

The financial statements were approved by the Board of Trustees and authorised for issue on 27 May 2021 and were signed on its behalf by:

Trustee

Trustee

Trustee

The notes form part of these financial statements

Page 8

Bromsgrove United Charities

Notes to the Financial Statements for the Year Ended 31 December 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

The format of these financial statements has been revised to comply with the Registered Social Landlords General Determination 2006 and the statement of accounting requirements for registered social landlords contained therein, and in accordance with the SORP: accounting by registered social housing providers 2014.

Financial reporting standard 102 - reduced disclosure exemptions

The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year-end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the costs less estimated residual value of each asset over its estimated useful life:

Freehold Property - 2% on cost Fixtures & Fittings - 15% on reducing balance Land is not depreciated

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

continued...

Page 9

Bromsgrove United Charities

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

1. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Investments

Investments are stated at market value at the balance sheet date as provided by the investment broker. The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals throughout the year.

Cyclical repairs and maintenance costs and reserves

The charity has established a regular programme of cyclical repairs and maintenance in accordance with the trust deed of the charity. Repairs are charged to the revenue account in the year in which they are incurred. The reserve represents the amounts set aside for cyclical maintenance to meet costs in excess of budgeted expenditure for any year.

2. INVESTMENT INCOME

Rents received - net of costs
Dividend income
COIF deposit account income
Deposit account interest		 2020
£
7,649
22,364
487
143
30,643		 2019
£
(1,789)
20,465
1,422
353
20,451

3. INCOME FROM CHARITABLE ACTIVITIES

Activity
Social Housing Letting
Housing Activities		 2020
£
211,975		 2019
£
200,031

4. CHARITABLE ACTIVITIES COSTS

Housing Activities Direct
Costs
£
177,554		 Grant
funding of
activities
(see note
5)
£
2,364		 Support
costs (see
note 6)
£
26,184		 Totals
£
206,102

continued...

Page 10

Bromsgrove United Charities

Notes to the Financial Statements - continued

for the Year Ended 31 December 2020

5. GRANTS PAYABLE

Housing Activities
The total grants paid to individuals during the year was as follows:
Relief in Need
RIN Poor Widows
6.
SUPPORT COSTS
Management
£
Other resources expended
-
Housing Activities
26,184
26,184
Clerk to the trustees
Social Security
Pension
Treasurer's honorarium
7.
OTHER
Depreciation
Loss on sale of assets
Interest payable and similar charges
Support costs		 2020
£
2,364
2020
£
1,714
650
2,364
Governance
costs
£
3,435
-
3,435
2020
£
19,749
482
2,331
3,622
26,184
2020
£
13,763
224
9,847
3,435
27,269		 2019
£
2,327
2019
£
1,627
700
2,327
Totals
£
3,435
26,184
29,619
2019
£
18,999
431
1,872
3,767
25,069
2019
£
14,056
-
9,971
4,606
28,633

continued...

Page 11

Bromsgrove United Charities

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.

9. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2020
£
66,990
869
2,794
70,653		 2019
£
62,937
885
2,328
66,150

The average monthly number of employees during the year was as follows:

Full time
Part time
Administrative - full time
Administrative - part time
No employees received emoluments in excess of £60,000.
TANGIBLE FIXED ASSETS
Freehold
property
- PBC
£
COST
At 1 January 2020
636,961
Additions
-
Disposals
-
At 31 December 2020
636,961
DEPRECIATION
At 1 January 2020
65,466
Charge for year
2,010
Eliminated on disposal
-
At 31 December 2020
67,476
NET BOOK VALUE
At 31 December 2020
569,485
At 31 December 2019
571,495		 Freehold
Property
- KFC
£
611,715
-
-
611,715
314,179
11,750
-
325,929
285,786
297,536		 2020
2019
2
2
4
5
1
1
1
1
8
9
Fixtures
and
fittings
Totals
£
£
45,767
1,294,443
1,188
1,188
(822)
(822)
46,133
1,294,809
29,360
409,005
2,606
16,366
(598)
(598)
31,368
424,773
14,765
870,036
16,407
885,438

10. TANGIBLE FIXED ASSETS

continued...

Page 12

Bromsgrove United Charities

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

10. TANGIBLE FIXED ASSETS - continued

Included in cost or valuation of land and buildings is freehold land, of £560,200 (2019 - £560,200)

The charity owns certain freehold land and property in the Bromsgrove area. The land consists of :- (a) Land understood to comprise 3.777 acres at Bournheath which is tenanted (b) Kathleen Field Court comprising 19 self-contained units fronting to Churchfields Road, Bromsgrove together with 42 Churchfields Road, Bromsgrove. (c) Land which is understood to comprise 1.2 acres known as Phebe Bell Court, comprising 24 flats and 1 house at The Flats, Sidemoor, Bromsgrove. Deeds are not available for inspection in respect of certain properties referred to above, the only evidence of title consists of Orders of the Charity Commission including those dated 1st August 1982, which vested the title of Bromsgrove Consolidated Charities in the Official Custodian dated 25th April 1899, which described the property which at that date was vested in the Official Custodian in the schedule thereto, and the Order of Scheme.

11. FIXED ASSET INVESTMENTS

MARKET VALUE
At 1 January 2020
Additions
Revaluations
At 31 December 2020
NET BOOK VALUE
At 31 December 2020
At 31 December 2019		 Unlisted
investments
£
862,531
200,000
67,090
1,129,621
1,129,621
862,531

There were no fixed asset investments outside the UK.

The above investment comprised 960.79 (2019 - 960.79) COIF Accumulation Shares and 51696.13 COIF income shares (2019 - 40270.30).

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Prepayments and accrued income		 2020
£
177
316
493		 2019
£
620
117
737

continued...

Page 13

Bromsgrove United Charities

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£ £
Other creditors 14,092 16,914
14,092 16,914
14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2020 2019
£ £
Bank loans (see note 15) 94,285 95,190
15. LOANS
An analysis of the maturity of loans is given below:
2020 2019
£ £
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more than 5 years by instalment 94,285 95,190
16. SECURED DEBTS
The following secured debts are included within creditors:
2020 2019
£ £
Bank loans 94,285 95,190
The loan is secured by a first legal charge over the properties concerned. The title deeds and documents are held
by The Royal Bank of Scotland as administrators to Orchardbrook Limited (the lender) or by solicitors to
Orchardbrook Limited's order.
17. ACCRUALS AND DEFERRED INCOME
2020 2019
£ £
Housing Association grant 601,775 604,378

continued...

Page 14

Bromsgrove United Charities

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

18. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Land & Buildings
Cyclical Maintenance Fund
Extraordinary Repair Fund
Restricted funds
Cyclical Maintenance Fund - Restricted
TOTAL FUNDS
Net movement in funds, included in the above ar
Unrestricted funds
General fund
Land & Buildings
Cyclical Maintenance Fund
Extraordinary Repair Fund
Restricted funds
Cyclical Maintenance Fund - Restricted
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Land & Buildings
Cyclical Maintenance Fund
Extraordinary Repair Fund
TOTAL FUNDS		 At 1.1.20
£
791,801
169,463
177,536
295,538
1,434,338
-
1,434,338
e as follows:
Incoming
resources
£
240,616
(1)
4,253
750
245,618
8,000
253,618
At 1.1.19
£
731,734
142,505
154,265
245,806
1,274,310
1,274,310		 Net
movement
in funds
£
119,578
(23,495)
(24,601)
7,855
79,337
8,000
87,337
Resources
expended
£
(164,638)
(23,494)
(32,476)
(12,763)
(233,371)
-
(233,371)
Net
movement
in funds
£
106,324
20,604
618
32,482
160,028
160,028		 Transfers
between
funds
£
(60,362)
13,242
29,240
17,880
-
-
-
Gains and
losses
£
43,600
-
3,622
19,868
67,090
-
67,090
Transfers
between
funds
£
(46,257)
6,354
22,653
17,250
-
-		 At
31.12.20
£
851,017
159,210
182,175
321,273
1,513,675
8,000
1,521,675
Movement
in funds
£
119,578
(23,495)
(24,601)
7,855
79,337
8,000
87,337
At
31.12.19
£
791,801
169,463
177,536
295,538
1,434,338
1,434,338

continued...

Page 15

Bromsgrove United Charities

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

18. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Land & Buildings
Cyclical Maintenance Fund
Extraordinary Repair Fund
TOTAL FUNDS		 Incoming
resources
£
182,254
37,301
618
309
220,482
220,482		 Resources
expended
£
(179,340)
(16,697)
-
-
(196,037)
(196,037)		 Gains and
Movement
losses
in funds
£
£
103,410
106,324
-
20,604
-
618
32,173
32,482
135,583
160,028
135,583
160,028

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Land & Buildings
Cyclical Maintenance Fund
Extraordinary Repair Fund
Restricted funds
Cyclical Maintenance Fund - Restricted
TOTAL FUNDS		 At 1.1.19
£
731,734
142,505
154,265
245,806
1,274,310
-
1,274,310		 Net
movement
in funds
£
225,902
(2,891)
(23,983)
40,337
239,365
8,000
247,365		 Transfers
between
funds
£
(106,619)
19,596
51,893
35,130
-
-
-		 At
31.12.20
£
851,017
159,210
182,175
321,273
1,513,675
8,000
1,521,675

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Land & Buildings
Cyclical Maintenance Fund
Extraordinary Repair Fund
Restricted funds
Cyclical Maintenance Fund - Restricted
TOTAL FUNDS		 Incoming
resources
£
422,870
37,300
4,871
1,059
466,100
8,000
474,100		 Resources
expended
£
(343,978)
(40,191)
(32,476)
(12,763)
(429,408)
-
(429,408)		 Gains and
Movement
losses
in funds
£
£
147,010
225,902
-
(2,891)
3,622
(23,983)
52,041
40,337
202,673
239,365
-
8,000
202,673
247,365

continued...

Page 16

Bromsgrove United Charities

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

19. CONTINGENT LIABILITIES

There were no known material contingent liabilities at the year end.

20. CAPITAL COMMITMENTS

Contracted but not provided for in the financial statements 2020
£
60,000		 2019
£
40,000

21. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2020.

22. POST BALANCE SHEET EVENTS

There were no known material post balance sheet events.

Page 17

Bromsgrove United Charities

Detailed Statement of Financial Activities
for the year ended 31st December 2020
Incoming Resources from charitable activities
Residents Contributions
Donations
Dividends
Deposit account interest
COIF Interest
Net rental income
Guest rooms etc
42 Churchfields Road
Other
Charitable Activities
Wages
Water rates
Insurance
Light and heat
Relief in Need - Donations
Relief in Need - Poor Widows
Clerk to the Trustees
Honorarium
Telephone & postage
Printing stationery & computer supplies
Subscriptions
Sundry expenses
Amenity Treats & Christmas
Alarm system maintenance
Property repairs & maintenance
Cleaning & window cleaner
Garden upkeep
Carried Forward		 2020
2019
130,229
123,179
3,000
-
-
80
212
225
474
180
190
-
-
-
-
133,714
124,055
25,185
22,309
5,016
7,519
3,219
4,401
11,464
13,745
-
-
11,281
10,651
1,811
1,884
1,878
1,879
-
391
561
172
1,231
262
630
5,134
5,533
43,204
14,991
4,482
4,850
2,251
2,234
115,750
92,418
17,964
92,418
PHEBE BELL COURT		 2020
2019
81,746
76,852
8,000
-
22,364
20,465
64
141
262
948
-
-
7,164
(2,286)
304
306
119,904
96,426
22,906
22,538
2,959
2,981
1,600
1,439
11,681
11,207
1,714
1,627
650
700
11,281
10,651
1,811
1,883
1,435
1,166
-
-
-
1,445
832
375
180
3,774
4,596
23,203
10,359
2,790
3,073
2,728
1,754
90,352
74,986
29,552
21,440
KATHLEEN FIELD COURT		 2020
2019
211,975
200,031
11,000
-
22,364
20,465
144
353
487
1,422
180
190
7,164
(2,286)
304
306
253,618
220,481
48,091
44,847
7,975
10,500
4,819
5,840
23,145
24,952
1,714
1,627
650
700
22,562
21,302
3,622
3,767
3,313
3,045
-
-
391
561
1,617
2,063
637
810
8,908
10,129
66,407
25,350
7,272
7,923
4,979
3,988
206,102
167,404
47,516
53,077
TOTALS
2020
130,229
3,000
80
225
180
-
-
133,714
25,185
5,016
3,219
11,464
11,281
1,811
1,878
391
172
262
5,134
43,204
4,482
2,251
115,750
17,964		 2020
81,746
8,000
22,364
64
262
-
7,164
304
119,904
22,906
2,959
1,600
11,681
1,714
650
11,281
1,811
1,435
-
1,445
375
3,774
23,203
2,790
2,728
90,352
29,552

This page does not form part of the statutory financial statements Page 18

Bromsgrove United Charities
Detailed Statement of Financial Activities (cont)
for the year ended 31st December 2020
Brought forward
Governance Costs
Professional fees
Auditors' remuneration
Other resources expended
Loss on disposal of assets
Bank charges
Loan interest
Profit/(loss) on sale of investments
Profit/(loss) on
COIF - ERF
COIF - General
NET MOVEMENT IN FUNDS
NET INCOMING/(OUTGOING) RESOURCES
Investment valuation changes
Depreciation of tangible fixed assets
Payroll charges		 2020
2019
17,964
92,418
287
755
1,134
1,110
308
288
1,729
2,153
1,415
3,505
224
-
-
-
9,711
9,799
11,350
13,304
-
-
4,885
16,180
9,732
17,573
24,697
51,705
34,429
69,278
39,314
85,458
PHEBE BELL COURT		 2020
2019
29,552
21,440
252
550
1,146
1,615
308
288
1,706
2,453
12,348
10,551
-
136
172
-
-
12,484
10,723
-
-
15,362
8,264
7,963
14,600
24,698
51,705
32,661
66,305
48,023
74,569
KATHLEEN FIELD COURT		 2020
2019
47,516
53,077
539
1,305
2,280
2,725
616
576
3,435
4,606
13,763
14,056
224
-
136
172
9,711
9,799
23,834
24,027
-
-
20,247
24,444
17,695
32,173
49,395
103,410
67,090
135,583
87,337
160,027
TOTALS
2020
17,964
287
1,134
308
1,729
1,415
224
-
9,711
11,350
-
4,885
9,732
24,697
34,429
39,314		 2020
29,552
252
1,146
308
1,706
12,348
136
-
12,484

-
15,362
7,963
24,698
32,661
48,023

This page does not form part of the statutory financial statements Page 19