##
|||||||Page|
|---|---|---|---|---|---|---|
|Reference|and administrative||details ofthe Charity,|its Trustees|and advisers||
|Chairman's|statement||||||
|Trustees'|report|||||3-7|
|Independent
auditors'||report|on the financial statements|||8-11|
|Statement|of financial|activities||||12|
|Balance sheet|||||||
|Statement|of cash flows|||||14|
|Notes to the financial||statements||||15-35|
##
|Patron|||Her Most Gracious Majesty The|Her Most Gracious Majesty The|Her Most Gracious Majesty The|Her Most Gracious Majesty The|Queen|Queen||
|---|---|---|---|---|---|---|---|---|---|
|President|||Mr Jim Godfrey|||||||
|Honorary|Trustees||H.R.H. The Prince Philip,||Duke||of Edinburgh,||KG, KT, OM, GBE(deceased 9April|
||||2021)|||||||
||||H.R.H. The Prince of|Wales,||KG, KT, GCB, OM, AK, QSO, CC, PC, AOC||||
||||H.R.H. The Duke of Gloucester,|||||KG, GCVO,|GCStJ, FRIBA|
||||H.R.H. The Countess|of|Wessex, GCVO, DStJ, CD|||||
||||R.F.H. Cowen, CBE|||||||
||||The Lord Plumb of Coleshill,|||DL,||FRAgS||
|Trustees|||Philip Gready,
Chair (appointed||||1 January 2021)|||
||||Chris Tufnell,
Chair (resigned|||31||December 2020)||
||||Alastair
Morrison|||||||
||||Joanna Price|||||||
||||Nick Tapp FRAgS|||||||
||||Michael Fiddes|||||||
||||Gareth Davies (resigned||31|December 2020)||||
||||Julia Butler|||||||
|Company|and Charity|||||||||
|registered||numbers|RC000442 8 209961|||||||
|Principal|office||Stoneleigh
Park|||||||
||||Kenilworth|||||||
||||Warwickshire|||||||
||||CV8 2LZ|||||||
|Independent||auditors|Dains LLP|||||||
||||15Colmore
Row|||||||
||||Birmingham|||||||
||||B32BH|||||||
|Bankers|||Coutts 8 Co|||||||
||||440 Strand|||||||
||||London|||||||
||||WC2R OQS|||||||
|Solicitors|(charity,||Wright
Hassall
LLP|||||||
|governance,|||Olympus
Avenue|||||||
|commercial)|||Leamington
Spa|||||||
||||Warwickshire|||||||
||||CV34 6BF|||||||
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|||||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|funds|
|||||2020|2020|2020|2020|2019|
||||Note|OOOO|OOOO|OOOO|FOOO|EOOO|
|Income and|||||||||
|endowments||from:|||||||
|Donations
and||legacies|4|48|||48|10|
|Charitable
activities|||5|19|||19|24|
|Other trading|activities||6|222|||222|74|
|Investments|||7||||3|1|
|Other income|||8|331|||331||
|Total income||and|||||||
|endowments||||620|||623|109|
|Expenditure|on:||||||||
|Raising funds||||293|||293|286|
|Charitable
activities|||9|79|||79|71|
|Total expenditure||||372|||372|357|
|Net income I|||||||||
|(expenditure)||before|||||||
|net gains on|||||||||
|investments||||248|||251|(248)|
|Net gains on|||||||||
|investments|||16|||||4,416|
|Net movement
funds||in||248|||257|4,168|
|Reconciliation||of|||||||
|funds:|||||||||
|Total funds brought|||||||||
|forward||||5,850|38|104|5,992|1,824|
|Net movement||in funds||248|3|6|257|4,168|
|Total funds carried
forward||||6,098|41|110|6,249|5,992|
##
||||||2020||2019|
|---|---|---|---|---|---|---|---|
||||Note||OOOO||f000|
|Fixed assets||||||||
|Tangible assets|||14||1||1|
|Investments|||16||137||128|
|Investment
property|||15||4,500||5,275|
||||||4,638||5,404|
|Current assets||||||||
|Debtors: amounts|falling due after more than|||||||
|one year|||17|625||641||
|Debtors: amounts|falling due within one year||17|384||90||
|Cash at bank and|in hand|||1,193||98||
|||||2,202||829||
|Creditors: amounts|falling|due within one||||||
|year|||18|(550)||(224)||
|Net current assets|||||1,652||605|
|Total assets less|current|liabilities|||6,290||6,009|
|Creditors: amounts|falling|due after more||||||
|than one year|||19||(41)||(17)|
|Total net assets|||||6,249||5,992|
|Charity funds||||||||
|Endowment
funds|||20||110||104|
|Restricted
funds|||20||41||38|
|Unrestricted
funds|||20||6,098||5,850|
|Total funds|||||6,249||5,992|
##
##
||||||2020|2019|
|---|---|---|---|---|---|---|
|||||Note|FOOO|OOOO|
|Cash flows from operating
activities|||||||
|Net cash|used
in operating
activities|||23|(41)|(225)|
|Cash flows from investing
activities|||||||
|Dividends,|interests
and rents from investments||||||
|Purchase|of tangible
fixed assets||||||
|Proceeds|from sale of investments||||1,106||
|Net cash|provided
by investing
activities||||1,109||
|Cash flows from financing
activities|||||||
|Cash inflaws from new borrowing|||||27||
|Net cash|provided
by financing
activities||||27||
|Change
in cash and cash equivalents||in|the year||1,095|(225)|
|Cash and|cash equivalents
at the beginning||of the year||98|323|
|Cash and|cash equivalents
at the end|of|the year|24|1,193|98|
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##
|||||Unrestricted|Total|
|---|---|---|---|---|---|
|||||funds|funds|
|||||2020|2020|
|||||OOOO|OOOO|
||Donations|||48|48|
|||||Unrestricted|Total|
|||||funds|funds|
|||||2019|2019|
|||||OOOO|OOOO|
||Donations|||10|10|
|5.|Income from|charitable|activities|||
|||||Unrestricted|Total|
|||||funds|funds|
|||||2020|2020|
|||||f000|OOOO|
||Membership|subscriptions||19|19|
|||||Unrestricted|Total|
|||||funds|funds|
|||||2019|2019|
|||||FOOO|OOOO|
||Membership|subscriptions||24|24|
##
##
##
##
|||||Unrestricted|Total|
|---|---|---|---|---|---|
|||||funds|funds|
|||||2020|2020|
|||||f.000|EOOO|
||Property|||40|40|
||Other|||182|182|
|||||222|222|
|||||Unrestricted|Total|
|||||funds|funds|
|||||2019|2019|
|||||f000|OOOO|
||Property|||49|49|
||Other|||25|25|
|||||74|74|
|7.|Investment||income|||
|||||Restricted|Total|
|||||funds|funds|
|||||2020|2020|
|||||OOOO|OOOO|
||Dividend|income||||
|||||Restricted|Total|
|||||funds|funds|
|||||2019|2019|
|||||OOOO|OOOO|
||Dividend|income||||
##
##
##
|||||||||Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||funds|funds|funds|
|||||||||2020|2020|2019|
|||||||||OOOO|OOOO|OOOO|
|Surplus|on|disposal|of|investment|property|and|land|331|331||
##
|Unrestricted|Total|
|---|---|
|funds|funds|
|2020|2020|
|EOOO|OOOO|
|79|79|
||||||
|---|---|---|---|---|
|Membership||services|79|79|
||||Unrestricted|Total|
||||funds|funds|
||||2019|2019|
||||EOOO|OOOO|
|Membership||services|65|65|
|Awards|programme||6|6|
||||71|71|
##
##
##
||||Activities|||
|---|---|---|---|---|---|
||||undertaken|Support|Total|
||||directly|costs|funds|
||||2020|2020|2020|
||||OOOO|f000|OOOO|
|Membership||services||78|79|
||||Activities|||
||||undertaken|Support|Total|
||||directly|costs|funds|
||||2019|2019|2019|
||||f000|FOOO|OOOO|
|Membership||services||56|65|
|Awards|programme||||6|
||||15|56|71|
|Analysis|of|direct costs||||
||||Membership|Awards|Total|
||||services|programme|funds|
||||2020|2020|2020|
||||FOOO|OOOO|f000|
|Direct costs||||||
||||Membership|Awards|Total|
||||services|programme|funds|
||||2019|2019|2019|
||||EOOO|f000|EOOO|
|Direct costs|||||15|
##
##
##
##
|||Membership|Total|
|---|---|---|---|
|||services|funds|
|||2020|2020|
|||FOOO|OOOO|
|Staff costs||72|72|
|Auditor's|remuneration|5|5|
|General|expenses|1|1|
|||78|78|
|||Membership|Total|
|||services|funds|
|||2019|2019|
|||OOOO|EOOO|
|Staff costs||49|49|
|Auditor's|remuneration|5|5|
|General|expenses|2|2|
|||56|56|
##
##
##
|Staff costs|||
|---|---|---|
||2020|2019|
||FOOO|EOOO|
|Wages and salaries|72|49|
|Social security costs|5|2|
|Pension costs|3|3|
||80|54|
|The|average|number|of|persons|employed|by|the Charity|during|the year was as follows:||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||2020|2019|
||||||||||No.|No.|
|Staff|||||||||||
|The|average|headcount||expressed as full-time|||equivalents|was:|||
||||||||||2020|2019|
||||||||||No.|No.|
|Staff|||||||||1.2|1.3|
##
##
##
|||||2020|2019|
|---|---|---|---|---|---|
|||||EOOO|EOOO|
|Depreciation||of tangible|fixed assets|||
|Auditor's|remuneration||- audit|||
##
##
||||Computer|
|---|---|---|---|
||||equipment|
||||OOOO|
||Cost|||
||At 1 January|2020|21|
||Disposals||(20)|
||At 31 December 2020|||
||At 1 January|2020|20|
||On disposals||(20)|
||At 31 December 2020|||
||Net book value|||
||At 31 December 2020|||
||At 31 December 2019|||
|15.|Investment|property||
||||Freehold|
||||investment|
||||property|
||||f000|
||Valuation|||
||At 1 January|2020|5,275|
||Disposals||(775)|
||At 31 December 2020||4,500|
##
##
##
||Listed|
|---|---|
||investments|
||OOOO|
|Market valuation||
|At 1 January 2020|128|
|Income yield|3|
|Revaluations|6|
|At 31 December 2020|137|
##
|||2020|2019|
|---|---|---|---|
|||f000|FOOO|
|Due after more than one year||||
|Prepayments|and accrued income|625|641|
|||2020|2019|
|||'EOOO|EOOO|
|Due within one year||||
|Trade debtors||317|34|
|Other debtors||16|16|
|Prepayments|and accrued income|51|40|
|||384|90|
##
##
||||||2020|2019|
|---|---|---|---|---|---|---|
||||||f000|OOOO|
|Bank loans|||||1||
|Trade creditors|||||109|70|
|Other taxation||and|social security||130|7|
|Other creditors|||||116|118|
|Accruals|and deferred
income||||194|29|
||||||550|224|
||||||2020|2019|
||||||OOOO|f000|
|Deferred|income at 1 January||||17|21|
|Resources deferred|||during the year||149|17|
|Amounts|released||from previous|periods|(17)|(21)|
|Deferred|income at 31 December||||149|17|
##
||||2020|2019|
|---|---|---|---|---|
||||f000|OOOO|
|Bank loans|||26||
|Accruals|and deferred|income|15|17|
||||41|17|
##
##
##
||||||||Balance at|
|---|---|---|---|---|---|---|---|
||||Balance at 1||||31|
||||January|||Gains/|December|
||||2020|Income|Expenditure|(Losses)|2020|
||||FOOO|FOOO|FOOO|FOOO|EOOO|
|Unrestricted
funds||||||||
|General
Funds|||5,850|620|(372)||6,098|
|Endowment
funds||||||||
|RASE Landowner|gold|medal|32||||34|
|Farm & Rural building||centre|72||||76|
||||104||||110|
|Restricted
funds||||||||
|RASE Landowner|gold|medal|13||||14|
|Farm 8 Rural building||centre|25||||27|
||||38||||41|
|Total offunds|||5,992|623|(372)||6,249|
##
##
|Stateme|nt
offun|ds -|prior yea|r|||||
|---|---|---|---|---|---|---|---|---|
|||||||||Balance at|
|||||Balance at||||31|
|||||1 January|||Gains/|December|
|||||2019|Income|Expenditure|(Losses)|2019|
|||||OOOO|FOOO|FOOO|FOOO|FOOO|
|Unrestricted
funds|||||||||
|General|Funds|||1,699|108|(357)|4,400|5,850|
|Endowment
funds|||||||||
|RASE Landowner||gold|medal|28|||4|32|
|Farm &|Rural building||centre|60|||12|72|
|||||88|||16|104|
|Restricted funds|||||||||
|RASE landmower||gold|medal|12||||13|
|Farm &|Rural building||centre|25||||25|
|Total of|funds|||1,824|109|(357)|4,416|5,992|
||||||||Balance at|
|---|---|---|---|---|---|---|---|
||||Balance at 1||||31|
||||January|||Gains/|December|
||||2020|Income|Expenditure|(Losses)|2020|
||||FOOO|FOOO|f000|FOOO|FOOO|
|General|funds||5,850|620|(372)||6,098|
|Endowment||funds|104||||110|
|Restricted||funds|38||||41|
||||5,992|623|(372)||6,249|
##
##
##
||||||||Balance at|
|---|---|---|---|---|---|---|---|
||||Balance at||||31|
||||1 January|||Gains/|December|
||||2019|Income|Expenditure|(Losses)|2019|
||||OOOO|FOOO|FOOO|FOOO|FOOO|
|General|funds||1,699|108|(357)|4,400|5,850|
|Endowment||funds|88|||16|104|
|Restricted||funds|37||||38|
||||1,824|109|(357)|4,416|5,992|
|Analysis|of n|et assets between
funds -|current period||||
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Endowment|Total|
||||funds|funds|funds|funds|
||||2020|2020|2020|2020|
||||FOOO|FOOO|FOOO|FOOO|
|Tangible|fixed|assets||||I|
|Fixed asset investments||||27|110|137|
|Investment
property|||4,500|||4,500|
|Debtors|due after more than one year||625|||625|
|Current|assets||1,563|14||1,577|
|Creditors|due|within one year|(550)|||(550)|
|Creditors|due|in more than one year|(41)|||(41)|
|Total|||6,098|41|110|6,249|
##
|||||Unrestricted|Restricted|Endowment|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|
|||||2019|2019|2019|2019|
|||||f000|'EOOO|OOOO|f000|
|Tangible|fixed||assets||||1|
|Fixed asset investments|||||24|104|128|
|Investment||property||5,275|||5,275|
|Debtors|due after more than one year|||641|||641|
|Current|assets|||175|14||189|
|Creditors||due|within one year|(225)|||(225)|
|Creditors||due|in more than one year|(17)|||(17)|
|Total||||5,850|38|104|5,992|
|23.|Reconciliation
of net movement|Reconciliation
of net movement|in funds|to net cash flow from operating|activities||
|---|---|---|---|---|---|---|
||||||2020|2019|
||||||OOOO|f000|
||Net income for the period (as per Statement|||of Financial Activities)|257|4,168|
||Adjustments
for:||||||
||Depreciation
charges|||||1|
||Gains on investments||||(5)|(4,416)|
||Dividends,
interests|and rents from investments|||(3)|(1)|
||Surplus
on disposal|of investment|property|and land|(331)||
||(Increase)/decrease|in debtors|||(278)|25|
||Increase/(decrease)|in creditors|||320|(2)|
||Net cash used
in operating
activities||||(41)|(225)|
|24.|Analysis
ofcash and cash equivalents||||||
||||||2020|2019|
||||||OOOO|FOOO|
||Cash
in hand||||1,193|98|
||Total cash and cash equivalents||||1,193|98|
##
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##
|Principal
actuaria|l
assumptions
at the balance sheet da|te (expressed as weighted
averages):||
|---|---|---|---|
|||At 31|At 31|
|||December|December|
|||2020|2019|
|||0/|0/|
|Discount rate at|31 December|1.40|2.00|
|Rate of increase|in price (RPI)|2.90|2.90|
|Rate of increase|in price (CPI)|2.05|2.00|
|Rate of statutory|revaluation|2.05|2.00|
|The Cha|rity's
share of t|he assets
in the scheme was:|||
|---|---|---|---|---|
||||At 31|At 31|
||||December|December|
||||2020|2019|
||||EOOO|OOOO|
|Present|value offunded|obligations|(15,185)|(14,390)|
|Fair value of scheme assets|||15,255|14,666|
|Surplus|not recognised||(70)|(276)|
##
##
##
|Moveme||nts|in th|e present value of th|e defin|ed
benefit obligation
were as follows:||
|---|---|---|---|---|---|---|---|
||||||||2020|
||||||||f000|
|Opening||defined||benefit obligation|||14,390|
|Interest||cost|||||283|
|Actuarial||losses||(gains)|||1,039|
|Benefits||paid|||||(527)|
|Closing||defined||benefit obligation|||15,185|
|Movements|||in the fair value of the Charity's|||share of scheme assets were as follows:||
||||||||2020|
||||||||EOOO|
|Opening||fair|value of scheme assets||||14,666|
|Return|on Scheme assets excluding||||interest|income|833|
|Interest||income|||||283|
|Benefits||paid|||||(527)|
|Closing||fair|value ofscheme assets||||15,255|
##