Charity registration number: 208785
Charterhouse-in-Southwark
Annual Report and Financial Statements
for the Year Ended 31 March 2021
Field Sullivan Limited 70 Royal Hill Greenwich SE10 8RF
Charterhouse-in-Southwark
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustee's Report | 2 to 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 to 21 |
Charterhouse-in-Southwark
Reference and Administrative Details
| Trustee | Charterhouse-in-Southwark Trustee Company |
|---|---|
| Principal Office | 20 Farringdon Street |
| 8th Floor | |
| London | |
| EC4A 4AB | |
| Charity Registration Number | 208785 |
| Solicitors | Clifford Chance LLP |
| 10 Upper Bank Street | |
| London | |
| E14 5JJ | |
| Bankers | Unity Trust Bank PLC |
| Nine Brindley Place | |
| Birmingham | |
| B1 2HB | |
| National Westminister Bank PLC | |
| PO Box 159 | |
| 332 High Holborn | |
| London | |
| WC1V 7PS | |
| Accountants | Field Sullivan Limited |
| 70 Royal Hill | |
| Greenwich | |
| SE10 8RF |
Page 1
Charterhouse-in-Southwark
Trustee's Report
Charterhouse-in-Southwark Trustee Company (‘The Trustee’) presents the annual report together with the financial statements of Charterhouse in Southwark (the charity) for the year from 1 April 2020 to 31 March 2021.
Charterhouse in Southwark is a registered charity (Number 208785) of which a company limited by guarantee is the trustee (Company Number 02387403). Its governing instrument is a scheme established by the Charity Commissioners under the Charities Act 1960.
Structure, governance and management
CONSTITUTION
The principal object of the charity is as follows: for such religious, educational or other charitable purposes in such ways as the trustee shall from time to time determine including making grants to other charitable institutions.
DIRECTORS OF THE TRUSTEE COMPANY
The Trustee was appointed under a scheme made by the Charity Commissioners in 1990. The following served as Directors of the company during the year and up to the date of this report (other than as noted):
Elizabeth Barrett John Gillespie George Hankey Ann Kenrick OBE William Naunton Tristan Parsons Dr Alex Peterken Sebastian Lyon (resigned 13 October 2020)
METHOD OF APPOINTING DIRECTORS OF THE TRUSTEE COMPANY
Directors of the Trustee Company (“Directors”) must be connected with Charterhouse, as defined in the Articles of Association of the company. They are appointed at a general meeting, and hold office indefinitely.
ORGANISATIONAL STRUCTURE AND DECISION MAKING
The Charity Director, the sole employee of the charity, works part time and is accountable to the Directors. The charity is run from a virtual office.
RISK MANAGEMENT
The Trustee has assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to major risks.
Page 2
Charterhouse-in-Southwark
Trustee's Report
Objectives and Activities
POLICIES AND OBJECTIVES
To use investment income from the permanent endowment to make grants to help relieve poverty and enhance opportunities for young people, mainly but not exclusively in the London Borough of Southwark.
STRATEGIES FOR ACHIEVING OBJECTIVES
To research the needs of young people and to target grant making where, to the Directors, it seems most appropriate so to do.
To increase the resources available to the charity, a Director again generously funded the employment costs of the part time member of staff. This income is shown separately in the Statement of Financial Activities and its note.
ACTIVITIES FOR ACHIEVING OBJECTIVES
The Directors have decided to target the Charity's grant making to registered charities that work with young people. This is in keeping with the charity’s traditions since 1885 when it was founded.
Achievements and performance
As the financial statements indicate, our net assets were £4,728,318 as at the balance sheet date compared to £3,982,248 a year earlier.
Highlights of the year under review include:
• Assessed applications received for grants. During the year grants totalling £94,150 (2020 - £106,771) were made to a number of organisations, including those working with young people in the Southwark area.
• The Charity Director maintained, including via virtual contact due to the impact of the COVID-19 pandemic engagements with a range of organisations in the Southwark area of London. The organisations are mainly those with similar goals to the Charity,
• Directors of the Trustee company visited a number of organisations that had either applied for, or been given grants.
• Maintained contact with existing donors and Charterhouse school.
• Actively reviewed the management of investments being managed by investment managers.
The Directors confirm that they have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the Charity Commission’s general guidance on public benefit.
Financial review
RESERVES POLICY
A sum of about £35,000 in reserves covers the governance and administrative expenses of the charity for a year.
At the year end the balance on reserves was £4,728,318 (2020 - £3,982,248).
Page 3
Charterhouse-in-Southwark
Trustee's Report
MATERIAL INVESTMENTS POLICY
The investment policy of Charterhouse-in-Southwark is to invest in main line listed and readily marketable securities with a view to achieving capital growth without exposing reserves to excessive market risk.
Plans for future periods
FUTURE DEVELOPMENTS
The charity will continue to maintain relationships with a number of organisations in the London Borough of Southwark, seek opportunities to award grants that further the objects of the charity, and maintain contact with donors and supporters.
Existing investments are closely monitored, with the focus remaining to ensure they can generate a sustainable income whilst maintaining and growing the value of underlying assets. The charity retains the freehold of a property leased on a full insuring, repair and maintenance lease to an unrelated charity.
COVID-19
The charity's activities have been affected by the outbreak of COVID 19, which has caused significant disruption to economic activity financial markets and the daily lives of a significant part of the world’s population. A number of the organisations supported by Charterhouse-in-Southwark have been adversely impacted. As a result, the charity had to temporarily cancel any visits to operational charities. However, we have maintained regular contact with these organisations and have continued to assess and award grants whilst the directors of the Trustee company have been mindful of the importance of the support the Charity can offer. We are hopeful that interaction with these organisations will be resumed when it is safe to do so.
Trustees Responsibilties
The trustee is responsible for preparing the trustee's report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustee 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 of the charity for that period. In preparing these financial statements, the member is required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
Page 4
Charterhouse-in-Southwark
Trustee's Report
The member is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The member is 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.
The annual report was approved by the member of the charity on 12 October 2021 and signed on its behalf by:
......................................... George Hankey for and on behalf of Charterhouse-in-Southwark Trustee Company Trustee
Page 5
Charterhouse-in-Southwark
Independent Examiner's Report to the trustee of Charterhouse-in-Southwark
I report to the charity trustee on my examination of the accounts of the charity for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet and related notes.
This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.
Respective responsibilities of trustee and examiner
As the charity’s trustee of Charterhouse-in-Southwark you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Charterhouse-in-Southwark's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of Charterhouse-in-Southwark as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... Timothy Sullivan FCA 70 Royal Hill Greenwich SE10 8RF
Date:.............................
Page 6
Charterhouse-in-Southwark
Statement of Financial Activities for the Year Ended 31 March 2021
| Note Income and Endowments from: Donations and legacies 3 Charitable activities 4 Investment income 5 Other income 6 Total income Expenditure on: Charitable activities 7 Total expenditure Net income Other recognised gains and losses Losses on revaluation of fixed assets for charity's own use Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 20 |
Unrestricted £ 36,487 20,000 32,782 105,792 195,061 (157,620) (157,620) 37,441 708,629 746,070 3,982,248 4,728,318 |
Total 2021 £ 36,487 20,000 32,782 105,792 195,061 (157,620) (157,620) 37,441 708,629 746,070 3,982,248 4,728,318 |
Unrestricted £ 20,474 17,619 45,249 104,767 188,109 (171,842) (171,842) 16,267 (1,170) 15,097 3,967,151 3,982,248 |
Total 2020 £ 20,474 17,619 45,249 104,767 |
|---|---|---|---|---|
| 188,109 | ||||
| (171,842) | ||||
| (171,842) | ||||
| 16,267 (1,170) |
||||
| 15,097 3,967,151 |
||||
| 3,982,248 |
The notes on pages 9 to 21 form an integral part of these financial statements. Page 7
Charterhouse-in-Southwark
(Registration number: 208785) Balance Sheet as at 31 March 2021
| Note Fixed assets Tangible assets 13 Investments 14 Current assets Debtors 15 Investments 16 Cash at bank and in hand 17 Creditors: Amounts falling due within one year 18 Net current assets Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 20 |
2021 £ 202,753 4,207,681 4,410,434 17,973 183,200 154,728 355,901 (38,017) 317,884 4,728,318 4,728,318 4,728,318 |
2020 £ 202,753 3,341,913 |
|---|---|---|
| 3,544,666 | ||
| 9,695 361,335 82,725 |
||
| 453,755 (16,173) |
||
| 437,582 | ||
| 3,982,248 | ||
| 3,982,248 | ||
| 3,982,248 |
These accounts were approved by the Trustee on 12 October 2021.
....................................................
George Hankey For and on behalf of Charterhouse-in-Southwark Trustee Company Trustee
The notes on pages 9 to 21 form an integral part of these financial statements. Page 8
Charterhouse-in-Southwark
Notes to the Financial Statements for the Year Ended 31 March 2021
1 Charity status
The charity is domiciled in England and Wales.
The address of its registered office is: 20 Farringdon Street 8th Floor EC4A 4AB
These financial statements were authorised for issue by the trustee on 12 October 2021.
2 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Charterhouse-in-Southwark meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Going concern
The trustee consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Page 9
Charterhouse-in-Southwark
Notes to the Financial Statements for the Year Ended 31 March 2021
Deferred income
Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:
- The donor specifies that the grant or donation must only be used in future accounting periods; or - The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Grant provisions
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £500 or more are initially recorded at cost.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate Freehold Property 40 years straight line Land Not depreciated
Page 10
Charterhouse-in-Southwark
Notes to the Financial Statements for the Year Ended 31 March 2021
Fixed asset investments
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Current asset investments
Current asset investments are included at the lower of cost and net realisable value / market value.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustee's discretion in furtherance of the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Page 11
Charterhouse-in-Southwark
Notes to the Financial Statements for the Year Ended 31 March 2021
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
Page 12
Charterhouse-in-Southwark
Notes to the Financial Statements for the Year Ended 31 March 2021
3 Income from donations and legacies
Unrestricted
| Unrestricted | |||
|---|---|---|---|
| Donations and legacies; Donations from individuals Legacies Gift aid reclaimed Sponsorship |
General £ 22,273 9,062 4,653 499 36,487 |
Total 2021 £ 22,273 9,062 4,653 499 36,487 |
Total 2020 £ 17,781 250 2,321 122 |
| 20,474 |
4 Income from charitable activities
| Unrestricted | |||
|---|---|---|---|
| Total | Total | ||
| General | 2021 | 2020 | |
| £ | £ | £ | |
| Grants to cover staff costs | 20,000 | 20,000 | 17,619 |
This grant has been made by a Trustee in both the current and previous years.
5 Investment income
| Interest receivable and similar income; Interest receivable on bank deposits Other income from fixed asset investments |
Unrestricted funds General £ 222 32,560 32,782 |
Total 2021 £ 222 32,560 32,782 |
Total 2020 £ 1,059 44,190 |
|---|---|---|---|
| 45,249 |
Page 13
Charterhouse-in-Southwark
Notes to the Financial Statements for the Year Ended 31 March 2021
6 Other income
| Rental income 7 Expenditure on charitable activities Note Grants to institutions 8 Wages and salaries Pension costs Fundraising costs Administration of investments General overheads Insurance Accountancy The audit of the charity's annual accounts Independent examiner's fee |
Unrestricted General £ 105,792 Unrestricted General £ 94,150 17,008 523 216 29,870 1,171 7,733 4,679 110 2,160 157,620 |
Total 2021 £ 105,792 Total 2021 £ 94,150 17,008 523 216 29,870 1,171 7,733 4,679 110 2,160 157,620 |
Total 2020 £ 104,767 |
|---|---|---|---|
| Total 2020 £ 106,771 16,708 528 216 30,517 1,115 7,071 4,490 4,426 - |
|||
| 171,842 |
Page 14
Charterhouse-in-Southwark
Notes to the Financial Statements for the Year Ended 31 March 2021
8 Grant-making
Below are details of material grants made to institutions.
| Name of institution Southwark Playhouse Theatre Company Limited Charterhouse bursary London Community Boxing Bede Youth Adventure Project Burgess Sports Salmon Youth Centre Pembroke House Chance to Shine The Access Project The Children's Literacy Charity Saint George the Martyr Church Dream Believe Achieve Young Vic Theatre Peckham Pecan Bankside Open Space Trust Free to be Kids Bridge the Gap South London Gallery The Working Party Time and Talents Global Generation 9 Net incoming/outgoing resources Net incoming resources for the year include: Audit fees |
2021 £ - - 8,000 8,000 12,435 - 9,895 - 10,000 5,000 - 1,160 - - 2,000 10,000 3,760 2,000 5,000 4,000 8,000 4,900 94,150 2021 £ 110 |
2020 £ 7,000 6,527 8,000 8,000 16,604 8,000 9,740 8,000 8,000 5,000 1,000 2,900 2,000 5,000 1,000 10,000 - - - - - - 106,771 2020 £ 4,426 |
||
|---|---|---|---|---|
Page 15
Charterhouse-in-Southwark
Notes to the Financial Statements for the Year Ended 31 March 2021
10 Trustee remuneration and expenses
No trustee, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
11 Staff costs
The aggregate payroll costs were as follows:
| 11 Staff costs The aggregate payroll costs were as follows: |
||
|---|---|---|
| Staff costs during the year were: Wages and salaries Pension costs |
2021 £ 17,008 523 17,531 |
2020 £ 16,708 528 |
| 17,236 |
The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows:
| 2021 | 2020 | |||
|---|---|---|---|---|
| No | No | |||
| Charitable Activities | 1 | 1 |
Contributions to the employee pension schemes for the year totalled £523 (2020 - £528).
No employee received emoluments of more than £60,000 during the year
Page 16
Charterhouse-in-Southwark
Notes to the Financial Statements for the Year Ended 31 March 2021
12 Taxation
The charity is a registered charity and is therefore exempt from taxation.
13 Tangible fixed assets
| 13 Tangible fixed assets | ||
|---|---|---|
| Cost At 1 April 2020 At 31 March 2021 Depreciation At 1 April 2020 At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020 |
Land and buildings £ 541,501 541,501 338,748 338,748 202,753 202,753 |
Total £ 541,501 |
| 541,501 | ||
| 338,748 | ||
| 338,748 | ||
| 202,753 | ||
| 202,753 |
The Freehold property is included in the financial statements as the charity holds the benefical interest in the property. The legal title of the property is held by Charterhouse-in-Southwark Trustee Company, the trustee of the charity.
Land and buildings are not depreciated as the net book value is considered to relate to land.
Page 17
Charterhouse-in-Southwark
Notes to the Financial Statements for the Year Ended 31 March 2021
14 Fixed asset investments
| 14 Fixed asset investments | |||||
|---|---|---|---|---|---|
| Other investments Other investments Cost or Valuation At 1 April 2020 Revaluation Additions Disposals At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020 15 Debtors Other debtors 16 Current asset investments Cash deposits All current assets investments were held in the UK. |
2021 £ 4,207,681 Listed investments £ 3,341,913 708,628 1,922,154 (1,765,014) 4,207,681 4,207,681 3,341,913 2021 £ 17,973 2021 £ 183,200 |
2020 £ 3,341,913 |
|||
| Total £ 3,341,913 708,628 1,922,154 (1,765,014) 4,207,681 4,207,681 3,341,913 2020 £ 9,695 |
|||||
| 4,207,681 | |||||
| 4,207,681 | |||||
| 3,341,913 | |||||
| 2021 £ 17,973 2021 £ 183,200 |
|||||
| 2020 £ 361,335 |
|||||
Page 18
Charterhouse-in-Southwark
Notes to the Financial Statements for the Year Ended 31 March 2021
17 Cash and cash equivalents
| 17 Cash and cash equivalents | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Cash at bank | 154,728 | 82,725 |
18 Creditors: amounts falling due within one year
| 18 Creditors: amounts falling due within one year | ||
|---|---|---|
| Other taxation and social security Other creditors Accruals Deferred income |
2021 £ (9) 260 12,766 25,000 38,017 |
2020 £ - 206 15,967 - |
| 16,173 |
19 Pension and other schemes
Defined contribution pension scheme
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £523 (2020 - £528).
20 Funds
Current Year Figures
| Unrestricted General General Funds Designated Fixed Asset Fund Total funds |
Balance at 1 April 2020 £ 3,779,495 202,753 3,982,248 |
Incoming resources £ 195,061 - 195,061 |
Resources expended £ (157,620) - (157,620) |
Other recognised gains/(losses) £ 708,629 - 708,629 |
Balance at 31 March 2021 £ 4,525,565 202,753 |
|---|---|---|---|---|---|
| 4,728,318 |
Page 19
Charterhouse-in-Southwark
Notes to the Financial Statements for the Year Ended 31 March 2021
Prior Year Comparative
| Unrestricted General General Funds Designated Fixed Asset Fund Total funds |
Balance at 1 April 2019 £ 3,764,398 202,753 3,967,151 |
Incoming resources £ 188,109 - 188,109 |
Resources expended £ (171,842) - (171,842) |
Other recognised gains/(losses) £ (1,170) - (1,170) |
Balance at 31 March 2020 £ 3,779,495 202,753 |
|---|---|---|---|---|---|
| 3,982,248 |
The specific purposes for which the funds are to be applied are as follows:
The Designated Fund - Is a fixed asset fund which represents the net book value of buildings and fixtures and fittings which were not funded by restricted grants.
21 Analysis of net assets between funds
Current Year Figures
| Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets Prior Year Figures Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets |
Unrestricted funds General £ 202,753 4,207,681 355,901 (38,017) 4,728,318 Unrestricted funds General £ 202,753 3,341,913 453,755 (16,173) 3,982,248 |
Total funds at 31 March 2021 £ 202,753 4,207,681 355,901 (38,017) |
|---|---|---|
| 4,728,318 | ||
| Total funds at 31 March 2020 £ 202,753 3,341,913 453,755 (16,173) |
||
| 3,982,248 |
Page 20
Charterhouse-in-Southwark
Notes to the Financial Statements for the Year Ended 31 March 2021
22 COVID-19
The charity's activities have been affected by the outbreak of COVID 19, which has caused significant disruption to economic activity financial markets and the daily lives of a significant part of the world’s population. A number of the organisations supported by Charterhouse-in-Southwark have been adversely impacted. As a result, the charity had to temporarily cancel any visits to operational charities. However, we have maintained regular contact with these organisations and have continued to assess and award grants whilst the directors of the Trustee company have been mindful of the importance of the support the Charity can offer. We are hopeful that interaction with these organisations will be resumed when it is safe to do so.
Page 21