**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
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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).
- In our opinion the financial statements:
- give a true and fair view of the state of the charity's affairs as at 31 December 2020 and of its incoming resources and application of resources, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **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:
- the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
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':
- the requirements of Section 7 Statement of Cash Flows.
## **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