```
REGISTERED CHARITY NUMBER: 207733
```
```
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
FOR
CORN EXCHANGE BENEVOLENT SOCIETY
```
```
Cresswells Accountants (UK) Limited
Chartered Accountants
and Statutory Auditors
12 Market Street
Hebden Bridge
West Yorkshire
HX7 6AD
```
```
CORN EXCHANGE BENEVOLENT SOCIETY
```
## **`CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021`**
||`Page`|
|---|---|
|`Report of the Trustees`|`1 to 4`|
|`Report of the Independent Auditors`|`5 to 6`|
|`Statement of Financial Activities`|`7`|
|`Balance Sheet`|`8`|
|`Notes to the Financial Statements`|`9 to 13`|
|`Detailed Statement of Financial Activities`|`14`|
## **`CORN EXCHANGE BENEVOLENT SOCIETY`**
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021`**
```
TheTrusteeshavepleasureinpresentingtheirAnnualReportandfinancialstatementsfortheyearended 31st
December2021.Thefinancialstatementshavebeenpreparedinaccordancewiththeaccountingpoliciessetout in
Note1,andcomplywiththeRulesoftheSociety,theCharitiesAct2011andAccountingandReporting by
Charities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordance with
the Financial Reporting Standard applicable in the UK (FRS 102) (effective 1st January 2015).
```
## **`REFERENCE AND ADMINISTRATIVE DETAILS`**
## **`Registered Charity number`**
```
207733
```
## **`Principal address`**
```
PO Box 817
Winchester
SO23 3UD
```
## **`Trustees`**
```
J P Savage
R Hayes
J Stokoe Vice President
J P Stafford
D Caffall - resigned 22.2.2021
B Rose Honorary Life Vice- resigned 30.6.2021
President
N Hayley
R D Cooksley President
J C W Walker
R H J Streatfeild
R J M Butler
```
## **`Auditors`**
```
Cresswells Accountants (UK) Limited
Chartered Accountants
and Statutory Auditors
12 Market Street
Hebden Bridge
West Yorkshire
HX7 6AD
```
## **`Bankers`**
```
NatWest Bank Plc, PO Box 34, 15 Bishopsgate, London EC2P 2AP
```
## **`Investment advisers`**
```
Quilter Cheviot Limited, Senator House, 85 Queen Victoria St, London EC4V 4AB
```
```
Page 1
```
## **`CORN EXCHANGE BENEVOLENT SOCIETY`**
## **`REPORT OF THE TRUSTEES`**
## **`FOR THE YEAR ENDED 31 DECEMBER 2021`**
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Governing document`**
```
TheSocietywasestablishedin1863byrulesasrevisedin1957andmostrecentlyamendedin2011.In December
2000theSpillersBenevolentFundwaswoundupanditsassetsandliabilitiestransferredtotheCorn Exchange
BenevolentSociety.In2007theassetsandobligationsoftheNationalAssociationofBritishandIrish Millers
BenevolentSociety(Nabim)weresimilarlytransferred.Secretarialstaffandaccommodationaresharedwith the
Baltic Exchange Charitable Foundation (Charity No. 1178830).
```
```
ThecontroloftheSocietyisinthehandsofthePresident,Vice-President,andtheotherelecteddirectorswho meet
fourtimesayear.ThePresident,RVHayesstooddownattheendofhisterm.AttheAGMinJune2021R D
Cooksley was unanimously appointed as president and J Stokoe was unanimously re-appointed as vice president.
```
```
Alltrusteesare,orhavebeen,activelyworkingingrainandrelatedtrades,andhaveabroadknowledgeof the
occupationsfromwhichthoseapplyingtotheSocietycome.Theygivetheirtimefreelyandreceiveno material
benefitfromtheiractivitiesastrustees.NewBoardmembersareprovidedwithintroductoryinformationby the
Secretarywhokeepstrusteesinformedoftheirobligationsandduties,andarrangessuitabletraining where
appropriate.
```
```
TheSocietyisextremelygratefultothoseindividuals,companies,tradebodiesandotherorganisationsthat have
madegenerousdonationsinrecentyears.Theirsupportisgreatlyappreciatedbyallinvolvedinrunning the
Society.TheTrusteesalsoofferthankstoCresswells(Auditors)andtoQuilterCheviot(InvestmentAdvisers) for
theiradviceandsupportthroughouttheyearandtotheDirectorsoftheBalticExchangefortheuseofrooms for
meetings.
```
## **`Risk management`**
```
Thetrusteeshaveadutytoidentifyandreviewtheriskstowhichthecharityisexposedandtoensure appropriate
controls are in place to provide reasonable assurance against fraud and error.
```
```
ThemajorriskstowhichtheSocietyisexposedasidentifiedbytheBoardareregularlyreviewed,andsystems are
inplaceestablishedtomitigatethoserisksonanon-goingbasis.Ariskassessment,covering Assets,
Management/AdministrationandLegislation/RegulationiscarriedoutandreviewedbyTrusteeseachyear. The
mostrecentreviewofLegislationandRegulationhasincludedtheareaoftheprotectionandsafeguardingof the
personal data of the Society's members and beneficiaries and Reserves.
```
## **`OBJECTIVES AND ACTIVITIES`**
## **`Objectives and aims`**
```
TheSocietyexiststoassistitsmembersandotherpersonswhohavebeenengagedinanyaspectofgrain trading,
andtheirfamilies,whoexperiencehardship,needordistress.TheSociety'stitlesaysmoreaboutitsorigins than
aboutthewiderangeofoccupationsthatcanbenefitfromit.MembershipoftheSocietyisopentoallwho have
workedinthecorn,grain,seed,cereal,animalfeeding-stuffs,pulses,malt,flourmillingorgranarykeeping trades
intheUnitedKingdom,andanywhohaveworkedinanyoftheseandrelatedtradescanapplytotheSociety for
assistance.Thisfieldcomprisesaverylargenumberofpeopleinbothruralandurbanareasandsince2011 the
Society'sactivitieshavebeenformallyextendedtocoverthewholeoftheUK.TheTrusteesfeelthatafairlevel of
assistancehasbeenprovidedinrecentyearstoallwhohaveappliedtotheSocietyforhelp,andtheyaim to
continue at the current level of giving.
```
```
Page 2
```
## **`CORN EXCHANGE BENEVOLENT SOCIETY`**
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021`**
## **`OBJECTIVES AND ACTIVITIES`**
## **`Significant activities`**
```
Assistancein2021wasprovidedtoawideselectionofmembersofthegraintrade.Newcontactshavebeen made
andapplicationsreceivedfromdifferentareas.Annualgrantsweremadeprimarilyforhelptowardsthepayment of
day-to-dayexpenses.Additionalandspecialgrantswereregularlymadetomembersforitemsthatincluded help
withfuneralexpenses,withmobilityaidsandnewspectaclesandinotherareasconsideredbythetrustees as
meritingassistance.Inaddition,heatinggrantsweremadeduringperiodsofexceptionallycoldweather and
Christmas hampers and gifts were distributed. No grants were made to institutions.
```
## `Achievement, performance and public benefit`
```
TheSocietymaderegulargrantstofourmembersortheirdependantsin2021,andwasabletoprovide extra
assistanceintheformofspecialgrantstomanyothers.Overallatotalof£39,876(2020:£50,990)waspaid to
help trwnty two beneficiaries.
```
```
TheTrusteeshavecompliedwiththedutyundersection17oftheCharitiesAct2011tohavedueregardto public
benefitundertheguidanceissuedbytheCharityCommission.Theyaresatisfiedthattheiractivitiesare consistent
withthis,thatthebenefitstheSocietyseekstoprovideunderthetermsofitsobjectsareavailabletoa significant
sectionofthepublicandthatnopersonsuitablyqualifiedbyreasonofhisorheremploymentwouldever be
disqualifiedfromapplyingtotheSocietyforhelp.WithinthetermsoftheSociety'sobjects,geographical location
would never be a barrier to receiving assistance.
```
## **`Grantmaking policy`**
```
Thoseclaimingassistancearerequiredtoprovidedetailsofincomeandexpenditure,andthe financial
circumstancesofthosereceivinggrantsarereviewedatquarterlyintervals.Emergencygrantsareawarded as
deemednecessarybytheTrustees.ThereisfullconsultationinvolvingallTrusteesabouteachgrant awarded.
Everyannualgrantisbroadlybasedonbenchmarkssetforsinglebeneficiaries,marriedcouplesandfamilies. The
Societyhasadequateresourcestomeetestimatedfutureneeds,buttheTrusteesarealwaysconsciousthat a
balance between investment income and expenditure must be maintained, and this is constantly monitored.
```
## **`ACHIEVEMENT AND PERFORMANCE`**
## **`Investment performance`**
```
Investmentpolicyandstrategyarereviewedbyaninvestmentsub-committeethatmeetstheSociety's investment
managersregularlyduringeachyear,andperformanceismeasuredagainstthetargetsset.Amediumlevelof risk
approach was again confirmed. Performance in 2021 had been satisfactory and income had again been ample.
```
## **`FINANCIAL REVIEW`**
## **`Reserves policy`**
```
TheTrusteeshavereviewedtheSociety'sneedforreserves,andmadenochangeintheirpolicyofmaintaining a
reserveof£30,000.Thisrepresentsthreemonths'likelyexpenditure,whichwouldenabletheSocietyto meet
currentrequirementsoverthatperiodandisasafeguardagainstanyinterruptiontotheflowofincome from
investments.
```
## **`Investment policy and objectives`**
```
Theinvestmentportfoliohasincreased2021duetotherecoveryfromtheCovid-19pandemic.Thevaluations have
improved and were 13.73% higher in 2021 than 2020.
```
```
Theinvestmentportfolioisstructuredinawaythatcanwithstandadversemarketconditionsandisconsidered by
thetrusteestobewellplacedtoprotectthefund'svalueandalsotoproducethesortofincomerequiredfor the
Society'scharitableactivities.Theincometargetagreedwiththeadviserswasagaincomfortablyreached,and the
returnfortheyearwassatisfactoryfortheSociety'sneeds.Thefundconsistsofaspreadofgilts,corporate bonds,
equities and cash, the allocation to each sector being continually under review.
```
```
Thevalueoffundsundermanagementattheendof2021stoodat£4,870,109(£4,282,243in2020)andthe total
value of the Society's assets amounted to £4,911,341.
```
```
Page 3
```
## **`CORN EXCHANGE BENEVOLENT SOCIETY`**
## **`REPORT OF THE TRUSTEES`**
## **`FOR THE YEAR ENDED 31 DECEMBER 2021`**
## **`FUTURE DEVELOPMENTS`**
```
TheTrusteesarecommittedtomeetingtheneedsofpresentandpotentialbeneficiariesfortheforeseeable future
andwouldaskthosewhoareawareofpeoplefromrelevantoccupationswhomighthavefinancialor other
problemstonotifytheSociety.Theywillcontinuetopubliciseitswork,andtoencouragemembersofthe trade,
whetherindividualsorcompanies,tosupporttheSocietybyjoining.Inthisconnection,theCorn Exchange
CompanyhasagainbeenparticularlyhelpfulinenablingtheSocietytoattendtheBoursesthatareheldtwice each
yearinLondon.ThereiscontinuinggoodcommunicationwiththeBristolandManchesterGuilds,andwith the
NationalAssociationofBritishandIrishMillers.TheSocietywillcontinuetotakeeveryopportunitytoparticipate in
theworkofotheragriculturaltradebodiesandbenevolentsocietiesaroundthecountry,andthustoreachas large
a section of the public as is consistent with its objects.
```
## **`TRUSTEES RESPONSIBILITY STATEMENT`**
```
ThetrusteesareresponsibleforpreparingtheAnnualReportandthefinancialstatementsinaccordance with
applicable law and regulations.
```
```
ThelawapplicabletocharitiesinEngland&Walesrequiresthetrusteestopreparefinancialstatementsfor each
financialyearinaccordancewithUnitedKingdomGenerallyAcceptedAccountingPractice(United Kingdom
AccountingStandardsandapplicablelaw).Thetrusteesmustnotapprovethefinancialstatementsunlessthey are
satisfiedthattheygiveatrueandfairviewofthestateofaffairsofthecharityandoftheincomingresources and
application of resources, including the income and expenditure for that period.
```
```
In preparing these financial statements, the trustees are required to:
```
- `select suitable accounting policies and apply them consistently;`
- `observe the methods and principles in the Charities SORP;`
- `make judgements and estimates that are reasonable and prudent;`
```
-statewhetherapplicableaccountingstandardshavebeenfollowed,subjecttoanymaterialdepartures disclosed
and explained in the financial statements;
```
```
-preparethefinancialstatementsonthegoingconcernbasisunlessitisinappropriatetopresumethatthe charity
will continue in operation.
```
```
Thetrusteesareresponsibleforkeepingsufficientaccountingrecordsthatdisclosewithreasonableaccuracyat any
timethefinancialpositionofthecharityandenablethemtoensurethatthefinancialstatementscomplywith the
CharitiesAct2011,theCharity(AccountsandReports)Regulations2008andtheprovisionsofthetrustdeed. They
arealsoresponsibleforsafeguardingtheassetsofthecharity,andfortakingreasonablestepsforthe prevention
and detection of fraud and other irregularities.
```
```
Thetrusteesconfirmthatsofarastheyareaware,thereisnorelevantauditinformationofwhichthe charity's
auditorisunaware.Theyhavetakenallstepsthattheyoughttohavetakenastrusteesinorderto make
themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
Approved by order of the board of trustees on 21 June 2022 and signed on its behalf by:
```
```
R D Cooksley - Trustee
```
```
Page 4
```
## **`REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF CORN EXCHANGE BENEVOLENT SOCIETY`**
## **`Opinion`**
```
WehaveauditedthefinancialstatementsofCornExchangeBenevolentSociety(the'charity')fortheyear ended
31December2021whichcomprisetheStatementofFinancialActivities,theBalanceSheetandnotesto the
financialstatements,includingasummaryofsignificantaccountingpolicies.Thefinancialreportingframework that
hasbeenappliedintheirpreparationisapplicablelawandUnitedKingdomAccountingStandards(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 2021 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 applicable to Smaller Entities; and`
- `have been prepared in accordance with the requirements of the Charities Act 2011.`
## **`Basis for opinion`**
```
WeconductedourauditinaccordancewithInternationalStandardsonAuditing(UK)(ISAs(UK))and applicable
law.OurresponsibilitiesunderthosestandardsarefurtherdescribedintheAuditorsresponsibilitiesfortheaudit of
thefinancialstatementssectionofourreport.Weareindependentofthecharityinaccordancewiththe ethical
requirementsthatarerelevanttoourauditofthefinancialstatementsintheUK,includingtheFRC's Ethical
Standard,andwehavefulfilledourotherethicalresponsibilitiesinaccordancewiththeserequirements.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`**
```
WehavenothingtoreportinrespectofthefollowingmattersinrelationtowhichtheISAs(UK)requireusto report
to you where:
```
- `the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or`
- `the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charity's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.`
## **`Other information`**
```
Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprisestheinformationincluded in
the annual report, other than the financial statements and our Report of the Independent Auditors thereon.
```
```
Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttotheextent otherwise
explicitly stated in our report, we do not express any form of assurance conclusion thereon.
```
```
Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheotherinformationand, in
doingso,considerwhethertheotherinformationismateriallyinconsistentwiththefinancialstatementsor our
knowledgeobtainedintheauditorotherwiseappearstobemateriallymisstated.Ifweidentifysuch material
inconsistenciesorapparentmaterialmisstatements,wearerequiredtodeterminewhetherthereisa material
misstatementinthefinancialstatementsoramaterialmisstatementoftheotherinformation.If,basedonthe work
wehaveperformed,weconcludethatthereisamaterialmisstatementofthisotherinformation,wearerequired to
report that fact. We have nothing to report in this regard.
```
## **`Matters on which we are required to report by exception`**
```
WehavenothingtoreportinrespectofthefollowingmatterswheretheCharitiesAct2011requiresustoreport 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.`
## **`Responsibilities of trustees`**
```
AsexplainedmorefullyintheTrusteesResponsibilityStatement,thetrusteesareresponsibleforthepreparation of
thefinancialstatementswhichgiveatrueandfairview,andforsuchinternalcontrolasthetrusteesdetermine is
necessarytoenablethepreparationoffinancialstatementsthatarefreefrommaterialmisstatement,whether due
to fraud or error.
```
```
Page 5
```
## **`REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF CORN EXCHANGE BENEVOLENT SOCIETY`**
## **`Responsibilities of trustees`**
```
Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharity'sabilitytocontinue as
agoingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoingconcernbasis of
accountingunlessthetrusteeseitherintendtoliquidatethecharityortoceaseoperations,orhaveno realistic
alternative but to do so.
```
## **`Our responsibilities for the audit of the financial statements`**
```
Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefree from
materialmisstatement,whetherduetofraudorerror,andtoissueaReportoftheIndependentAuditors that
includesouropinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatan audit
conductedinaccordancewithISAs(UK)willalwaysdetectamaterialmisstatementwhenitexists. Misstatements
canarisefromfraudorerrorandareconsideredmaterialif,individuallyorintheaggregate,theycould reasonably
be expected to influence the economic decisions of users taken on the basis of these financial statements.
```
```
Afurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedonthe Financial
ReportingCouncil'swebsiteatwww.frc.org.uk/auditorsresponsibilities.ThisdescriptionformspartofourReport of
the Independent Auditors.
```
## **`Use of our report`**
```
Thisreportismadesolelytothecharity'strustees,asabody,inaccordancewithSection144oftheCharities Act
2011andregulationsmadeunderSection154ofthatAct.Ourauditworkhasbeenundertakensothatwe might
statetothecharity'strusteesthosematterswearerequiredtostatetotheminanauditors'reportandforno other
purpose.Tothefullestextentpermittedbylaw,wedonotacceptorassumeresponsibilitytoanyoneotherthan the
charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
```
```
Cresswells Accountants (UK) Limited
Chartered Accountants
and Statutory Auditors
Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006
12 Market Street
Hebden Bridge
West Yorkshire
HX7 6AD
```
```
21 June 2022
```
```
Page 6
```
## **`CORN EXCHANGE BENEVOLENT SOCIETY`**
## **`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021`**
|`2021`
`Unrestricted`
`fund`
`Notes`
`£`
**`INCOMING RESOURCES`**
**`Incoming resources from generated funds`**
`Voluntary income`
`2`
`12`
`Investment income`
`3`
`91,152`
**`Total incoming resources`**
`91,164`
**`RESOURCES EXPENDED`**
**`Costs of generating funds`**
`Investment management costs`
`4`
`20,151`
**`Charitable activities`**
`5`
`Grants to beneficiaries`
`39,876`
`Support costs`
`30,132`
`Governance costs`
`2,425`
**`Total resources expended`**
`92,584`
**`NET INCOMING/(OUTGOING) RESOURCES`**
`(1,420)`
`Realised gains/(losses) on fixed asset`
`investments`
`(47)`
**`Net income/(expenditure)`**
`(1,467)`
`Unrealised gains/losses on investment assets`
`604,356`
**`Net movement in funds`**
`602,889`
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
`4,308,452`
**`TOTAL FUNDS CARRIED FORWARD`**
`4,911,341`|`2020`
`Total`
`funds`
`£`
`14`
`92,887`
`92,901`
`24,659`
`50,990`
`30,042`
`2,926`
`108,617`
`(15,716)`
`(198,007)`
`(213,723)`
`80,191`
`(133,532)`
`4,441,984`
`4,308,452`|
|---|---|
```
The notes form part of these financial statements
```
```
Page 7
```
## **`CORN EXCHANGE BENEVOLENT SOCIETY`**
## **`BALANCE SHEET AT 31 DECEMBER 2021`**
|`2021`
`Unrestricted`
`fund`
`Notes`
`£`
**`FIXED ASSETS`**
`Investments`
`9`
`4,870,109`
**`CURRENT ASSETS`**
`Debtors: amounts falling due within one year`
`10`
`6,045`
`Cash at bank`
`138,435`
`144,480`
**`CREDITORS`**
`Amounts falling due within one year`
`11`
`(103,248)`
**`NET CURRENT ASSETS`**
`41,232`
**`TOTAL ASSETS LESS CURRENT`**
**`LIABILITIES`**
`4,911,341`
**`NET ASSETS`**
`4,911,341`
**`FUNDS`**
`12`
`Unrestricted funds`
`4,911,341`
**`TOTAL FUNDS`**
`4,911,341`|`2020`
`Total`
`funds`
`£`
`4,282,243`
`6,784`
`89,520`
`96,304`
`(70,095)`
`26,209`
`4,308,452`
`4,308,452`
`4,308,452`
`4,308,452`|
|---|---|
```
ThefinancialstatementswereapprovedbytheBoardofTrusteeson21June2022andweresignedonits behalf
by:
```
```
R D Cooksley -Trustee
```
```
The notes form part of these financial statements
```
```
Page 8
```
```
CORN EXCHANGE BENEVOLENT SOCIETY
```
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021`**
## **`1. ACCOUNTING POLICIES`**
## **`Accounting convention`**
```
Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention,withtheexception of
investmentswhichareincludedatmarketvalue,asmodifiedbytherevaluationofcertainassetsand in
accordancewiththeFinancialReportingStandardforSmallerEntities(effectiveApril2008),the Charities
Act2011andtherequirementsoftheStatementofRecommendedPractice,AccountingandReporting by
Charities.
```
## **`Incoming resources`**
```
AllincomingresourcesareincludedontheStatementofFinancialActivitieswhenthecharityis legally
entitled to the income and the amount can be quantified with reasonable accuracy.
```
## **`Resources expended`**
```
Expenditureisaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregate all
costrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingsthey have
been allocated to activities on a basis consistent with the use of resources.
```
```
Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedas a
commitment but not accrued as expenditure.
```
## **`Allocation and apportionment of costs`**
## **`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.
```
```
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
```
```
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
```
## **`2.`**
## **`VOLUNTARY INCOME`**
## **`3.`**
## **`4.`**
|`Donations`
**`INVESTMENT INCOME`**
`Other fixed asset invest - FII`
**`INVESTMENT MANAGEMENT COSTS`**
`Portfolio management`|`2021`
`£`
`12`
`2021`
`£`
`91,152`
`2021`
`£`
`20,151`|`2020`
`£`
`14`
`2020`
`£`
`92,887`|`2020`
`£`
`14`|
|---|---|---|---|
|||`2020`
`£`
`24,659`||
```
Page 9
```
## **`CORN EXCHANGE BENEVOLENT SOCIETY`**
## **`NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021`**
## **`5. CHARITABLE ACTIVITIES COSTS`**
|`Grant funding`
`of activities`
`Support costs`
`(See note 6)`
`(See note 7)`
`£`
`£`
`Grants to beneficiaries`
`39,876`
`-`
`Support costs`
`-`
`30,132`
`Governance costs`
`-`
`2,425`
`39,876`
`32,557`
**`GRANTS PAYABLE`**
`2021`
`£`
`Grants to beneficiaries`
`39,876`|`Totals`
`£`
`39,876`
`30,132`
`2,425`|
|---|---|
||`72,433`|
||`2020`
`£`
`50,990`|
## **`6. GRANTS PAYABLE`**
## **`7. SUPPORT COSTS`**
|`Management`
`£`
`Support costs`
`30,132`
`Governance costs`
`225`
`30,357`|`Other 4`
`£`
`-`
`2,200`
`2,200`|`Totals`
`£`
`30,132`
`2,425`|
|---|---|---|
|||`32,557`|
## **`8. TRUSTEES' REMUNERATION AND BENEFITS`**
```
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2021norfor the
year ended 31 December 2020.
```
## **`Trustees' expenses`**
||`2021`|`2020`|
|---|---|---|
||`£`|`£`|
|`Trustees' expenses`|`225`|`426`|
```
Page 10
```
## **`CORN EXCHANGE BENEVOLENT SOCIETY`**
## **`NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021`**
## **`9. FIXED ASSET INVESTMENTS`**
||`Listed`|
|---|---|
||`investments`|
||`£`|
|**`MARKET VALUE`**||
|`At 1 January 2021`|`4,282,243`|
|`Additions`|`366,801`|
|`Disposals`|`(383,291)`|
|`Revaluations`|`604,356`|
|`At 31 December 2021`|`4,870,109`|
|**`NET BOOK VALUE`**||
|`At 31 December 2021`|`4,870,109`|
|`At 31 December 2020`|`4,282,243`|
```
There were no investment assets outside the UK.
```
## **`10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
||`2021`|`2020`|
|---|---|---|
||`£`|`£`|
|`Other debtors`|`175`|`175`|
|`Dividends, interest receivable`|`5,870`|`6,609`|
||`6,045`|`6,784`|
|**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**|||
||`2021`|`2020`|
||`£`|`£`|
|`Other creditors`|`103,248`|`70,095`|
## **`11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
## **`12. MOVEMENT IN FUNDS`**
|**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Net`
`movement in`
`At 1.1.21`
`funds`
`At 31.12.21`
`£`
`£`
`£`
`4,308,452`
`602,889`
`4,911,341`
`4,308,452`
`602,889`
`4,911,341`|`Net`
`movement in`
`At 1.1.21`
`funds`
`At 31.12.21`
`£`
`£`
`£`
`4,308,452`
`602,889`
`4,911,341`
`4,308,452`
`602,889`
`4,911,341`|
|---|---|---|
|||`4,911,341`|
```
Page 11
```
## **`CORN EXCHANGE BENEVOLENT SOCIETY`**
## **`NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021`**
## **`12. MOVEMENT IN FUNDS - continued`**
```
Net movement in funds, included in the above are as follows:
```
|**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`Resources`
`Gains and`
`Movement in`
`resources`
`expended`
`losses`
`funds`
`£`
`£`
`£`
`£`
`91,164`
`(92,584)`
`604,309`
`602,889`
`91,164`
`(92,584)`
`604,309`
`602,889`|`Incoming`
`Resources`
`Gains and`
`Movement in`
`resources`
`expended`
`losses`
`funds`
`£`
`£`
`£`
`£`
`91,164`
`(92,584)`
`604,309`
`602,889`
`91,164`
`(92,584)`
`604,309`
`602,889`|
|---|---|---|
|||`602,889`|
## **`Comparatives for movement in funds`**
|**`Unrestricted Funds`**
`General fund`
**`TOTAL FUNDS`**
`Comparative net movement in funds, included in the above are a`
`Incoming`
`resources`
`£`
**`Unrestricted funds`**
`General fund`
`92,901`
**`TOTAL FUNDS`**
`92,901`|`Net`
`movement in`
`At 1.1.20`
`funds`
`At 31.12.20`
`£`
`£`
`£`
`4,441,984`
`(133,532)`
`4,308,452`
`4,441,984`
`(133,532)`
`4,308,452`
`s follows:`
`Resources`
`Gains and`
`Movement in`
`expended`
`losses`
`funds`
`£`
`£`
`£`
`(108,617)`
`(117,816)`
`(133,532)`
`(108,617)`
`(117,816)`
`(133,532)`|
|---|---|
```
A current year 12 months and prior year 12 months combined position is as follows:
```
|**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Net`
`movement in`
`At 1.1.20`
`funds`
`At 31.12.21`
`£`
`£`
`£`
`4,441,984`
`469,357`
`4,911,341`
`4,441,984`
`469,357`
`4,911,341`|`Net`
`movement in`
`At 1.1.20`
`funds`
`At 31.12.21`
`£`
`£`
`£`
`4,441,984`
`469,357`
`4,911,341`
`4,441,984`
`469,357`
`4,911,341`|
|---|---|---|
|||`4,911,341`|
```
Page 12
```
## **`CORN EXCHANGE BENEVOLENT SOCIETY`**
## **`NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021`**
## **`12. MOVEMENT IN FUNDS - continued`**
```
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above
are as follows:
```
|**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`Resources`
`Gains and`
`Movement in`
`resources`
`expended`
`losses`
`funds`
`£`
`£`
`£`
`£`
`184,065`
`(201,201)`
`486,493`
`469,357`
`184,065`
`(201,201)`
`486,493`
`469,357`|`Incoming`
`Resources`
`Gains and`
`Movement in`
`resources`
`expended`
`losses`
`funds`
`£`
`£`
`£`
`£`
`184,065`
`(201,201)`
`486,493`
`469,357`
`184,065`
`(201,201)`
`486,493`
`469,357`|
|---|---|---|
|||`469,357`|
```
Page 13
```
## **`CORN EXCHANGE BENEVOLENT SOCIETY`**
## **`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021`**
|**`INCOMING RESOURCES`**
**`Voluntary income`**
`Donations`
**`Investment income`**
`Other fixed asset invest - FII`
**`Total incoming resources`**
**`RESOURCES EXPENDED`**
**`Investment management costs`**
`Portfolio management`
**`Charitable activities`**
`Grants to individuals`
**`Support costs`**
**`Management`**
`Trustees' expenses`
`Becs`
`Other Expenses`
`Bank Charges`
**`Other 4`**
`Accountancy and legal fees`
**`Total resources expended`**
**`Net expenditure before gains and losses`**
**`Realised recognised gains and losses`**
`Realised gains/(losses) on fixed asset investments`
**`Net expenditure`**|`2021`
`2020`
`£`
`£`
`12`
`14`
`91,152`
`92,887`
`91,164`
`92,901`
`20,151`
`24,659`
`39,876`
`50,990`
`225`
`426`
`30,000`
`30,000`
`72`
`-`
`60`
`42`
`30,357`
`30,468`
`2,200`
`2,500`
`92,584`
`108,617`
`(1,420)`
`(15,716)`
`(47)`
`(198,007)`
`(1,467)`
`(213,723)`|
|---|---|
```
This page does not form part of the statutory financial statements
```
```
Page 14
```