|CONTENTS||||Page|
|---|---|---|---|---|
|Reference and administrative|||information||
|Annual
report||||3-19|
|Independent|auditors'|report||20 - 23|
|Statement
of|financial|activities||24|
|Balance sheet||||25|
|Statement
of|cashflows|||26|
|Notes to the financial||statements||27 - 46|
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|he Trus|t held|th|e following|total funds at 31 Mar|
|---|---|---|---|---|
|General|Fund|||j3,634,566|
|River Medway||Fund||635,664|
|Bridges|Reserve||Fund|8109,533,628|
|||||8113,203,858|
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|||General
Fund|River
Medway
Fund|Bridges
Reserve
Fund|2021Total|2D20 Tota I|
|---|---|---|---|---|---|---|
||Note|f|Designated
f|Designated
f|||
|Income from:|||||||
|Investments|||||||
|Rents receivable||||2,357,249|2,357,249|2,530,145|
|Dividends
receivable||||613,876|613,876|854,173|
|Bank and other interest||5,452|||5,452|40,261|
|Total income||5,452||2,971,125|2,976,577|3,424,579|
|~Edit|||||||
|Raising funds
Investment
management||||190,909|190,909|199,426|
|Expenditure
on investment
properties||1,997,446|||1,997,446|1,732,058|
|Charitable
Activities|||||||
|Maintenance
of bridges
Grants
payable
Other charitable
activities||6,968,646
31,910
344,016|||6,968,646
31,910
344,016|8,395,570
129„233
523,065|
|||7,344,572|||7,344,572|9,047,868|
|Total expenditure||9,342,018||190,909|9,532,927|10,979,352|
|Net (expenditure)/income|||||||
|before investments
gains/
losses||(9,336,566)||2,780,216|(6,556,350)|(7,554,773)|
|Unrealised
gain/(loss)
on
investment
assets||||7,384,616|7,384,616|(3,840,711)|
|Realised
gain on
investment
assets||||1,421,121|1,421,121|31,880|
|Unrealised
property
gain|13a|||4,251,653|4,251,653||
|Realised gain on investment
property
sales|]**3**
1 a|||551,054|551,054|3,272,064|
|Net (expenditure)/income||(9,336,566)||16,388,660|7,052,094|(8,091,540)|
|Transfers
between
Funds|18|322,982||(322,982)|||
|Other recognised
(loss)/gains|||||||
|Actuarial
loss on pension
fund||(188,000)|||(188,000)|(58,000)|
|Restriction
on surplus
on
pension
fund||64,000|||64,000|110,000|
|Unrealised
gain on tangible
assets||56,210|||56,210||
|Net movement
in funds for
year|the|(9,081,374)||16,065,678|6,984,304|(8,039,540)|
|Total funds brought
forward||f12715940|f35t664|f93467 950|f106219554|f114259t094|
|Total funds carried forward|18|f3,634,566|f35,664|f109,533,628|f113,203,858|f106,219,554|
|||||Note|2021
E|2020
f|
|---|---|---|---|---|---|---|
|Fixed assets|||||||
|Tangible assets||||12(a)|1,600,271|1,288,336|
|Heritage assets||||12(I3)|586,971|594,013|
|Investment
properties||||13(a)|74,117,314|70,805,644|
|Investments||||13(b)|31,929,802|22,261,683|
||||||108,234,358|94,949,676|
|Current assets|||||||
|Debtors||||14|759,680|1,167,273|
|Short term deposits|||||3,047,648|9,042,744|
|Cash at bank and
in hand|||||2,875,344|3,762,757|
||||||6,682,672|13,972,774|
|Creditors: amounts|falling||due within one year|15|(1~500172)|(2 702I896)|
|Net current assets|||||5,182,500|11,269,878|
|Net assets excluding|pension (liability)/asset||||113,416,858|106,219,554|
|Pension
(liability)/asset||||11|(213,000)||
|Net assets including|pension (liability)/asset||||6113,203,858|6106,219,554|
|Funds|||||||
|Bridges Reserve (Designated)|||fund|18,19|109,533,628|93,467,950|
|General
fund||||18,19|3,634,566|12,715,940|
|River Medway
(Designated)||fund||18,19|35,664|35,664|
|Total fund balances|||||6113,203,&58|6106,219,554|
||||2021|2020|
|---|---|---|---|---|
|Cash flows from operating
activities|||(10,215,787)|(9,781,138)|
|Cash flows from investing
activities
Dividends
and interest|||2,976,577|3,424,579|
|Purchase of property,
plant and equipment
Purchase of heritage assets|||(251,517)
(558)|(31,873)
(1,105)|
|Proceeds from sale of heritage assets|||120||
|Purchase
of investments
Proceeds from sale of investments|||(6,066,329)
7,734,529|(5,539,789)
17,932,567|
|Net cash provided
by investing
activities|||4,392,822|15,784,379|
|Change
in cash and cash equivalents
in
Cash and cash equivalents
at the beginning||the year
ofthe year|(5,822,965)
12,974,707|6,003,241
6,971,466|
|Cash and cash equivalents
at the end|ofthe year||f7~151~742|612974 707|
|Notes to the Cash Flow Statement|||||
|Reconciliation
of Net Income to Net Cash Flow|||2021f|2020f|
|from Operating
Activities|||||
|Net income/(expenditure)|||7,052,094|(8,091,540)|
|(Gains)/losses
on investments
Depreciation
charges|||(13,608,444)
15,792|536,767
13,233|
|Loss on the sale of heritage assets|||7„480||
|Decrease/(increase)
in debtors|||407,591|(586,253)|
|(Decrease)/increase
in creditors|||(1,202,723)|1,719,234|
|Pension costs|||89,000|52,000|
|Dividends,
interest
and rents from investments|||(2,976,577)|(3,424,579)|
|Net cash used
in operating
activities|||(f10,215,787)|(f9,781,138)|
|Analysis of Cash and Cash Equivalents|||2021|2020
f|
|Cash at bank and
in hand|||2,875,344|3,762,757|
|Short term deposits|||3,047,648|9,042,744|
|Cash held by investment
managers|||1,228,750|169,206|
||||f7,151,742|f12,974,707|
|Analysis of Changes|in Net Debt||||
|---|---|---|---|---|
|||At 1April
2020f|Cashflowsf|At 31March
2021f|
|Cash||3,931,963|172,131|4,104,094|
|Cash equivalents||9,042,744|(5,995,096)|3,047,648|
|Total||f12,974,707|(f5,882,965)|f7,151,742|
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|Net|movement
in funds are stated afte|movement
in funds are stated afte|movement
in funds are stated afte|r charges for audit fe|es off12,100(2|020:f11,885)|
|---|---|---|---|---|---|---|
|3.|INVESTMENT
MANAGEMENT|||FEES|2021f|2020|
||Investment
management||fees||109,884|109,546|
||Support costs (note 8)||||81,025|89,880|
||||||8190,909|f199,426|
|The|investment
management|fee is related to the value of|||the portfolio.||
|4.|EXPENDITURE ON INVESTMENT PROPERTIES||||2021f|2020f|
||Professional
and other|fees|||353,022|554,209|
||Maintenance
and repairs||||180,973|538,933|
||Operational
Property||||798,324||
||VAT Irrecoverable||||162,059|101,704|
||Insurance||||63,799|70,153|
||Ground
rents||||16,377|16,563|
||Compliance
costs||||14,389|33,509|
||Vacant property
costs||||35,173|52,740|
||Bad debts||||8,244|14,810|
||Support costs (note 8)||||365,086|349,437|
||||||E1,997,446|61,732,058|
|5.|MAINTENANCE|OF BRIDGES|OF BRIDGES||2021f|2020f|
|---|---|---|---|---|---|---|
||Professional
fees||||733,250|849,566|
||Maintenance
and|repairs|||4,715,384|5,750,599|
||VAT irrecoverable||||1,092,214|1,321,986|
||Insurance||||45,082|43,991|
||Lighting||||12,434|9,767|
||Support costs (note 8)||||367,410|436,312|
||Recharged
costs||||2,872|(16,651)|
||||||I6,968,646|68,395,570|
|6.|GRANTS PAYABLE||General|River Medway|2021|2020|
||||Fund
f|Fund
f|Total
f||
||Miscellaneous
grants||6,985||6,985|24,562|
||Other grant costs|||||478|
||Support costs (note 8)||24,925||24,925|104,193|
||||E31,910||f31,910|f129,233|
|o tim|e be determined
in the United
Kingdom
and pri|marily
the County of K|ent).|
|---|---|---|---|
|7.|OTHER CHARITABLE ACTIVITIES|2021|2020f|
||Education|869|19,764|
||Other Charitable
Activities|56,409|128,506|
||Support costs (note 8)|286,738|374,795|
|||f344,016|6523,065|
|orks
Exhibition
ss
for re-opening|orks
Exhibition
ss
for re-opening|was
relocated
from
Tonbridg
to the public.|e
Castle
to Maidstone|Museum
i|
|---|---|---|---|---|
|EDUCATION|||2021|2020f|
|Education|activities||869|19,764|
||||6869|E19,764|
|OTHER CHARITABLE ACTIVITIES|||2021|2020|
|||||E|
|Awards
ik|Sponsorship||13,000|14,937|
|Exhibitions|||15,338|30,946|
|Archive Projects|||7,511|15,254|
|Charitable|Donations|||523|
|Other Charitable||Projects|20,560|66,846|
||||656,409|6128,506|
##
##
|8.
SUPPORT AND GO
2021|VERNANCE|COSTS|||||
|---|---|---|---|---|---|---|
||||Financial||Other||
||Bridges|Properties|Invest-|Grants|Charitable|Total|
||||ments||Activities||
||E|||E|E||
|Wages and salaries|234,750|218,376|42,237|12,827|183,881|692,071|
|Insurance|20,791|22,993|6,079|1,896|16,120|67,879|
|Office and administration|111,869|123,717|32,709|10,202|86,737|365,234|
||2367,410|6365,086|681,025|624,925|f286,738|61,125,184|
##
|2020||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||Financial||Other||
||||||Bridges|||Properties||||Invest-|Grants|Charitable
Total||
|||||||||||||ments||Activities||
|||||||||||||f.||f||
|Wages and salaries|||||212,827|||||163,076||39,808|44,450|177,012
637,173||
|Insurance||||||22,250||||18,554||4,985|5,948|19,691
71,428||
|Office|and administration||||201,235|||||167,807||45,087|53,795|178,092
646,016||
||||||f436,312||||f349,437|||f89,880|f104,193|f374,795 f1,354,617||
|Included
in the||above|are||the|following:||||||||||
||GOVERNANCE||COSTS||||||||||2021f||2020f|
||Salaries|and wages|||||||||||47,073||44,824|
||Meeting|costs|||||||||||239||2,017|
||Auditors'|remuneration||||in respect||||ofthe|audit||12,100||11,885|
||Auditors'|remuneration||||in|respect|||of non-audit|||3,230|||
||services|||||||||||||||
||FRS102|Pension|Report||||||||||723||600|
||Trustee Training||||||||||||||1,974|
||||||||||||||663,365||f61,300|
|Governance
Costs are|||reallocated||||across|||the main||activities of|the charity|in the|same way|
|as Support Costs.||||||||||||||||
|9.|EMOLUMENTS||OF||EMPLOYEES||||||||2021||2020|
||Salaries|and wages|||||||||||527,447||442,187|
||Employer|national||insurance|||||||||54,377||43,669|
||Superannuation||||||||||||74,150||99,317|
||Net interest
and service costs|||||||of|defined||benefit||89,000||52,000|
||pension|scheme||||||||||||||
||||||||||||||f744,974|f637,173||
##
##
|Changes
in the present value ofthe defined|Changes
in the present value ofthe defined|benefit obligation
are|benefit obligation
are|as follows:|
|---|---|---|---|---|
||||2021
E|2020f|
|Opening
defined
benefit obligation|||2,044,000|1,582,000|
|Current
service cost|||164,000|134,000|
|Past service costs||||19,000|
|Contributions
by scheme participants|||42,000|32,000|
|Interest cost|||48,000|39,000|
|Change
in financial
assumptions|||833,000|(257,000)|
|Change
in demographic
assumptions|||(24,000)|(48,000)|
|Experience gain on defined benefit obligation|||(25,000)|560,000|
|Benefits paid|||(15,000)|(17,000)|
|Closing defined benefit obligation|||K3,067,000|E2,044,000|
|Changes
in the fair value of plan assets|are|as follows:|||
||||2021f|2020f|
|Opening
fair value of plan assets|||2,10&,000|1,756,000|
|Interest
on assets|||51,000|44,000|
|Return
on assets less interest|||596,000|(180,000)|
|Other actuarial
gain||||377,000|
|Administration
expenses|||(2,000)|(1,000)|
|Contributions
by employer|||74,000|97,000|
|Contributions
by scheme participants|||42,000|32,000|
|Estimated
benefits
paid|||(15,000)|(17,000)|
|Closing fair value of plan assets|||62,854,000|f2,108,000|
|The amounts
recognised
in the balance|sheet are as follows:||||
||||2021|2020|
|||||E|
|Present value of funded
obligations|||(3,067,000)|(2,044IOOO)|
|Fair value of plan assets (bid value)|||2,854,000|2,108,000|
|Net (liability)/asset|||(213,000)|64,000|
|Restriction
on pension
surplus||||(64,000)|
|Net
(liability)/asset
recognised|in|the|(E213IOOO)||
|balance sheet|||||
|The amounts|recognised|recognised|recognised|in|the Statement|of Financial|Activities are:||
|---|---|---|---|---|---|---|---|---|
||||||||2021f|2020
E|
|Service cost|||||||164,000|153,000|
|Net interest
on||the|defined
liability/(asset)||||(3,000)|(5,000)|
|Administration||expenses|||||2,000|1,000|
|Total|||||||6163,000|E149,000|
|Remeasurement|||of|the net assets /|||2021|2020|
|(defined|liability)||||||E|f|
|Return
on Fund||assets
in excess of interest|||||596,000|(180,000)|
|Change|in financial||assumptions||||(833,000)|257,000|
|Change|in demographic||||assumptions||24,000|48,000|
|Experience
gain||on|defined
benefit obligation||||25,000|(560,000)|
|Other actuarial||gain||||||377,000|
|Tota
I|||||||(E188,000)|(658,000)|
|The major categories of||||plan assets as a percentage|||of total plan assets are as||
|follows:|||||||||
||||||||2021|2020|
|Equities|||||||64%|62%|
|Gilts|||||||1%|1%|
|Other Bonds|||||||12%|13%|
|Property|||||||10%|14%|
|Cash|||||||5%|3%|
|Absolute|Return|Fund|||||7%|8%|
|The assets in|the scheme|||were:|||||
||||||||Value at|Value at|
|||||||31Mar 2021f||31Mar 2020
E|
|Equities|||||||1,838,000|1,297,000|
|Giits|||||||17,000|16,000|
|Other bonds|||||||356,000|275,000|
|Property|||||||295,000|287,000|
|Cash|||||||142,000|55,000|
|Absolute|Return|Fund|||||206,000|178,000|
|Total market value||||of|assets|K2I854I000||K2,108,000|
##
|||||||||At|31Mar 2021|31Mar 2021||At 31Mar 2020|At 31Mar 2020|At 31Mar 2020|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||RPI Increases|||||||||3.15%||||2.7%|
||CPI Increases|||||||||2.85%||||1.9%|
||Salary increases|||||||||3.85%||||2.9%|
||Pension increases|||||||||2.85%||||1.9%|
||Discount rate|||||||||2.05%|||2.35%||
||Assumed
life expectancies||||at age 65 are:|||At|31Mar 2021|||At 31Mar 2020|||
||Retiring today||||||||||||||
||Males|||||||||21.6||||21.8|
||Females|||||||||23.6||||23.7|
||Retiringin
20 years||||||||||||||
||Males|||||||||22.9||||23.2|
||Females|||||||||25.1||||25.2|
|In addition,
it was assumed||||that|members|will exchange|||half|oftheir commutable|||pension||
|for cash at retirement|||and|that|members|will|retire at the|||pension|weighted||average||
|tranche|retirement
age.||It|is further
assumed|||that|the|proportion
of||members||that|had|
|taken|up the option|to|pay 50% of contributions|||||for|50%|of benefits||at the|previous||
|valuation
date remain||the same.|||||||||||||
##
|12.|TANGIBLE FIXEDA|SSETS|||||
|---|---|---|---|---|---|---|
|(a)|Assets recognised|Freehold|Office|Furniture|Plant and|Total|
||in the balance|Land and|Equipment|and|Machinery||
||sheet|buildings||Fixtures|||
|||E||E|||
||Valuation/cost||||||
||At 1 April 2020|1,235,001|37,844|20,406|16,650|1,309,901|
||Additions|241,790|1,413|8,314||251,517|
||Reallocations|20,000||||20,000|
||Revaluation|56,210||||56,210|
||At 31 March 2021|1,553,001|39,257|28,720|16,650|1,637,628|
||Depreciation||||||
||At 1 April 2020||12521|6 546|2 498|21I565|
||Depreciation
charge||||||
||for the year||7,808|4,654|3,330|15,792|
||At 31 March 2021||20,329|11,200|5,828|37I357|
||Net Book Value||||||
||At 31 March 2021|61 553i001|618928|617i520|610822|E1600 271|
||At 1 April 2020|61,235,001|625,324|E13,859|I14I152|61288i336|
##
##
##
|ppoin|tment
with the Archives
ik R|tment
with the Archives
ik R|ecords Manager.|||
|---|---|---|---|---|---|
|13.|INVESTMENTS|||2021|2020|
|||||E|E|
|(a)|Investment|properties||||
||Valuation
at|1 April||70,805,644|78,280,372|
||Acquisitions|||||
||Disposals at|net book value||(919,983)|(6,818,728)|
||Reallocations|to operational|property|(20,000)|(656,000)|
||Revaluation|||4,251,653||
||At 31 March|||f74,117,314|f70,805,644|
##
|Quoted investments|||2021f|2020|
|---|---|---|---|---|
|Market value of investments|at 1 April||22,092,477|28,203,294|
|Additions|||6,066,329|5,539,789|
|Disposals at net book value|||(4,842,370)|(7,809,895)|
|Unrealised
gain on revaluation|||7,384,616|(3,840,711)|
|Market value of investments|at 31|March|30,701,052|22,092,477|
|Cash held by investment
managers|||1,228,750|169,206|
||||f31,929,802|f 22,261,683|
|Historic cost at 31 March (excluding||cash)|f24,093,950|f20,856,882|
|Realised gain/(loss)
on disposals|||f1,421,121|f31,880|
|b)|Quoted investments|Quoted investments||(continued)|(continued)|(continued)|(continued)|(continued)||2021f|2020
E|
|---|---|---|---|---|---|---|---|---|---|---|---|
||The portfolio structure|||is|made|||up as follows:||||
||UK Equities|||||||||17,576,951|12,077,335|
||Overseas
Equities|||||||||11,861,755|9,093,591|
||Indirect Property/Infrastructure|||||||||241,450|157,811|
||Private
Equity|||||||||1,020,896|763,740|
||Cash|||||||||1,228,750|169,206|
|||||||||||631,929,802|622,261,683|
|14.|DEBTORS:Amounts||falling||||due within||one year|2021
E|2020f|
||Rents receivable|||||||||234,948|313,594|
||Prepayments|||||||||159,596|120,285|
||Accrued
income|||||||||179,729|167,968|
||Other debtors|||||||||185,407|565,426|
|||||||||||E759,680|El,167,273|
|15.|CREDITORS: Amounts||||falling due within one|||||2021|2020|
||year|||||||||||
|||||||||||E|E|
||Trade and other|creditors||||||||496,147|1,447,903|
||Accruals|||||||||580,735|806,678|
||Deferred
income|(note||16)||||||293,617|286,893|
||Grants allocated|but unpaid||||(note 17)||||52,709|86,609|
||Other taxes and|social|security|||||||66,730|63,639|
||Pension
contributions||payable|||||||10,234|11/174|
|||||||||||F1,500,172|Z2,702,896|
|16.|DEFERRED INCOME|||||||||||
|||||||||||E||
||Balance at 1 April|2020||||||||286,893||
||Amount
released|to property|||||income|||(286,893)||
||Amounts
deferred|in the||year||||||293,617||
||Balance at 31 March 2021|||||||||6293,617||
|17.|GRANTS ALLOCATED BUT UNPAID RECONCILIATION|GRANTS ALLOCATED BUT UNPAID RECONCILIATION|GRANTS ALLOCATED BUT UNPAID RECONCILIATION|GRANTS ALLOCATED BUT UNPAID RECONCILIATION|GRANTS ALLOCATED BUT UNPAID RECONCILIATION|GRANTS ALLOCATED BUT UNPAID RECONCILIATION|f||
|---|---|---|---|---|---|---|---|---|
||Balance at|1 April 2020||||86,609|||
||Paid
in the|year||||(41,185)|||
||Grants expired or no longer required|||||(25,000)|||
||Awarded
in|the year||||32,285|||
||Balance at|31 March 2021||||f52,709|||
||Of which:||||||||
||Falling due|within
one year||||f52,709|||
|18.|FUNDS||||||||
||||||River||Bridges||
||2021||General|Fund|Medway
(Designated)||Reserve
(Designated)|Total|
||||||Fund||Fundf||
||Balance at|1 April 2020|12,715,940||35,664||93,467,950|106,219,554|
||Net expenditure
before||(9,336,566)||||2,780,216|(6,556,350)|
||investments|gains and losses|||||||
||Unrealised|gain on investments|||||7,384,616|7,384,616|
||Realised
gain on investments||||||1,421,121|1,421,121|
||Unrealised|property
gain|||||4,251,653|4,251,653|
||Realised gains on property||||||551/054|551,054|
||sales||||||||
||Transfers
between
Reserve||322,982||||(322,982)||
||Funds||||||||
||Actuarial
loss on pension
fund||(188,000)|||||(188,000)|
||Restriction|of surplus
on|64,000|||||64,000|
||pension
fund (released)||||||||
||Unrealised|gain on tangible|56,210|||||56,210|
||assets||||||||
||Balance at|31 March 2021|f3,634,566||f35|664|I109/533/628|6113203 858|
||||||River|Bridges||
|---|---|---|---|---|---|---|---|
|2020||||General
Fund|Medway
(Designated)|Reserve
(Designated)|Total|
||||||Fund|Fund||
|||||||E||
|Balance|at 1 April 2019|||7,063,870|49,084|107,146,140|114,259,094|
|Net expenditure
before||||(10,669,318)|(70,347)|3,184,892|(7,554,773)|
|investments
gains||and losses||||||
|Unrealised
loss on||investments||||(3,840,711)|(3,840,711)|
|Realised|gain on investments|||||31,880|31,880|
|Unrealised
property||gain/loss||||||
|Realised|gains on property|||||3,272,064|3,272,064|
|sales||||||||
|Transfers|between|Reserve||16,269,388|56~927|(16~326315)||
|Funds||||||||
|Actuarial|gain on pension||fund|(58,000)|||(58,000)|
|Restriction
ofsurplus
on||||110,000|||110,000|
|pension|fund|||||||
|Balance|at 31March 2020|||612,715,940|635,664|693,467,950|6106,219,554|
|DESIGNATED|FUNDS|||||||
|There are two designated||funds|as follows:|||||
##
##
##
|ANALYSIS OF NET ASS|ETS BYFUND||||
|---|---|---|---|---|
|2021|General
Fund
f|River
Medway
Fundf|Bridges
Reserve
Fundf|Total
f|
|Tangible fixed assets|1,600,271|||1,600,271|
|Heritage assets|586,971|||586,971|
|Investment
properties|||74,117,314|74,117,314|
|Investments|||31,929,802|31,929,802|
|Current assets|2,800,405|39,774|3,842,493|6,682,672|
|Current
liabilities|(1,140,081)|(4,110)|(355,982)|(1t500~172)|
|Pension
liability|(213,000)|||(213,000)|
|Total net assets at|||||
|31 March 2021|E3,634,566|E35,664|E109,533,628|f113,203,858|
|2020|General
Fund
f|River
Medway
Fundf|Bridges
Reserve Fund|Total
f|
|Tangible fixed assets|1,288,336|||1,288,336|
|Heritage assets|594,013|||594,013|
|Investment
properties|||70,805,644|70,805,644|
|Investments|||22,261,683|22,261,683|
|Current assets|13,173,926|39,774|759,074|13,972,774|
|Current
liabilities|(2,340,335)|(4,110)|(358,451)|(2,702,896)|
|Total net assets at|||||
|31 March 2020|E12,715„940|E35,664|E93,467,950|E106,219,554|
##
|21.|FINANCIAL
COMMITMENTS|||
|---|---|---|---|
||Lease Commitments|2021f|2020
E|
||Lease payments
due under non-cancellable|||
||operating
leases falling due:|||
||within one year|31,783|25,951|
||in more than one year|21,840|7,475|
||Total lease payments
under non-cancellable|E53,623|633,426|
||operating
leases|||
|22.|OPERATING
LEASE RECEIPTS|OPERATING
LEASE RECEIPTS|OPERATING
LEASE RECEIPTS|||
|---|---|---|---|---|---|
|||||2021|2020|
|||||E|E|
||Minimum
lease receipts under||non-cancellable|||
||operating
leases|||||
||to be received:|||||
||not later than one year|||1,872,302|1,855,599|
||later than one year
years|and|not later than five|3,940,929|4,259,028|
||later than five years|||5,632,325|7,297,546|
||Total lease receipts under
operating
leases|non- cancellable||611,445,556|613,412,173|
|23.|FINANCIAL INSTRUMENTS|||||
|||||2021|2020|
|||||E||
||Financial assets measured||at fair value|||
||Investment
properties|||74,117,314|70,805,644|
||Investments|||31,929,802|22,261,683|
|OR THE YEAR END|ED 31 MARCH 2021|ED 31 MARCH 2021|ED 31 MARCH 2021|ED 31 MARCH 2021|ED 31 MARCH 2021|ED 31 MARCH 2021|||
|---|---|---|---|---|---|---|---|---|
|24.
STATEMENT|OF FINANCIAL ACTIVITIES —COMPARATIVE||||||||
||||||General|River
Medway|Bridges
Reserve|2020 Total|
|||||||Fund|Fund||
||||||f|(Designated)
f.|(Designated)
f||
|Income from:|||||||||
|Investments|||||||||
|Rents receivable|||||||2,530,145|2,530,145|
|Dividends
receivable|||||||854,173|854,173|
|Bank and other interest|||||40,261|||40,261|
|Total income|||||40,261||3,384,318|3,424,579|
|~didt|||||||||
|Raising funds|||||||||
|Investment
management|||||||199,426|199,426|
|Expenditure
on investment|||properties||1,732,058|||1,732,058|
|Charitable
Activities|||||||||
|Maintenance
of bridges|||||8,395,570|||8,395,570|
|Grants
payable|||||58,886|70,347||129,233|
|Other charitable
activities|||||523,065|||523,065|
||||||8,977,521|70,347||9,047,868|
|Total expenditure|||||10,709,579|70,347|199,426|10,979,352|
|Net (expenditure)/|income before||||(10,669,318)|(70,347)|3,184,892|(7,554,773)|
|investments
gains|||||||||
|Unrealised
(loss) gain on||investment|||||(3,840,711)|(3,840,711)|
|assets|||||||||
|Realised
gain on investment|||assets||||31,880|31,880|
|Unrealised
property|gains||||||||
|on property
Realised
gain||sales|||||3,272,064|3,272,064|
|Net income|||||(10,669,318)|(70,347)|2,648,125|(8,091,540)|
|Transfers 'between|Reserve||Funds||16,269,388|56,927|(16,326,315)||
|Other recognised|(losses)/gains||||||||
|Actuarial
loss on pension||fund|||(58,000)|||(58,000)|
|Restriction
on surplus
on||pension||fund|110,000|||110,000|
|Net movement
in|funds|for the||year|5,652,070|(13,420)|(13,678,190)|(8,039,540)|
|Total funds
brought|forward||||7,063,870|49,084|107(146,140|114,259,094|
|Total funds carried|forward||||f12,715,940|f35,664|f93,467,950|106,219,554|