OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2020-12-31-accounts

RESPONSE RECOVERY RESILIENCE ANNUAL REPORT AND FINANCIAL STATEMENTS 6cR 2020 RESPONSE RECOVERY RESILIENCE Co) RIBA Architecture.com

Section One A Strong Profession We will help our members engage with the challenges and opportunities of a changing world, lead and support the higNest professional and ethical standards and facilitate collaboration, research amd inmovation. We will ensure tNat our profession thrives by attracting the best and most diverse talent with access to the education knowledge and skills to succeed. ft19Akn￿ ReFKYt atKI St*tEnts2020

Section Three A Strong Organisation We will grow our membership base and ensure that our business model supports our vision, purpose and strategy We will do this by engaging talented and committed staff, enhancing the value of our offer to members and others, generating diverse and sustainable sources of Income and striving for operational exceLlence. R1@Akn￿L ReFXrt atKJ S¢6tst*td52020

Section Four linanciaL Review The purpose of this financial review is to assist readers with interpretin9 the Financial Statements presented later (see pages 38 to 65), the format of which Is as specified by the accounting Statement of Recommended Practice ("SORP") used by Charities. To supplement this, the information presented below In bold are headings used in the Consolidated Statement of Financial Activities (the "SOFA") shown on page 58 25 RIBA AnTwI Rep(xt SweTnEtts 2020

For the year ende d 31 D ecember 2020
0 wt aed Re!t tteda
d		 Soao arnot cad eeet cadeau Sole
iud edomdiv
di		 real lv di e dwadruna voi el
Note t'000 c'000 sttaa etMO t'000 rstoo
Income from:
Donations
and legacws		 1,236 474 1,710 120 309 429
Charnable
acrivnies
Membership subscnptions 8,6S9 8,689 8,907 8,907
Voice 377 365 742 905 553 1,458
Organisation 1 1 39 39
Pro/ession 4,971 4 4,975 5805 2 Br807
Other trading
activities		 2 4440 4,340 8,460 8,460
Investments 421 160 581 350 160 510
Total income 20,035 1/XI3 21,038 24586 1,024 25,610
Expenditure
an:
Raising funds 4,657 6/349
Chantable
activities
Voice 5,924 316 6,240 6281 282 6463
Organisation 6,711 6,711 6,346 6,346
Profession 10,550 31I3 10,860 1C831 284 11,115
Pensmn
finance costs		 346 346 211 211
Total expenditure on ordirwry eatttdties 4 28188 626 28,814 30318 566 30/I84
Net(~)/'etaoma
on~		 befiaa nat~laseae) (8,153) 377 (7,776) (5,732) 458 (5,274)
Movement
on eweslment		 in assoaate 15 3,823 3,823 6253 6453
Net gains/(losses) an investments 16 335 153 488 120 391 511
Net (twpendlture)/Income before other recognised gains
and losses 5 (3.995) 530 (3,465) 641 S49 1,490
Actuarial
gains/(losses)		 on defined benefit pension sdtemes
26 346 346 211 211
Net movement
tn		 funds (3649) 530 (3,119) 852 849 1,701
Recondllatlon
of		 funds:
Total funds brought forward 352,320 6235 358,555 351,468 5,386 356454
Total funds carried farward 348,671 6,765 355,436 35~20 6,235 358t555

As at 31December 2020
The enwe n adtr
2D2D an9 2020 2D19
Nine E'ODD E'000 S'000 E'000
Fixed assets:
Intangible assets 10 1 1
Tangible assets 11 28,878 29004 28,878 29,004
Hentage assets 12 265,267 265,116 265,267 265,116
Investments
in subsidiary		 undertakings 13 1 1
Invesrmenrs
in associate		 15 40,851 37028 4Q851 37028
In vs sr menrs
—other		 16 19,454 17220 19,454 17,220
354,451 348369 354,451 348,369
Current
as sets i
Stocks 17 1604 1,483
Debtors 18 3,456 4,054 5,391 61707
Cash at bank and in hand 3,410 12,822 2,489 Q304
8,470 1((359 7880 1fit011
Liabilities..
Creditors. amounts falbng due vnthin one year 19 (61598) (7302) (5,404) (51490)
Net current assets 1,872 11,157 2,476 1Q521
Total assets less currant liabilities 3561323 359,526 356,927 358,890
Crednors: amounis falling due after one year 20 (887) (971l (887) (971)
Net assets excluding pension liability 355,436 358555 356,040 357919
Defined
benefit pension scheme asset		 26
Net assets 21 355,436 356555 356,040 357919
Fundx:
Rest ncred income funds 22 2,713 2,336 2,713 2,336
Endowment
funds		 22 4,052 3,899 4,052 3r899
Llnrestncted
income		 funds: 23
Revaluation
reserves		 6,574 6,639 6,574 f(639
Hernage Assets reserves 264,692 264,582 264,692 264,582
Inveslment
in		 assoaated company 40,851 37028 4Q851 37028
Fixed assets reserve 152132 15,680 15,232 15,680
Irwestment
for		 growth fund 13,567 13,567
Two-year deocir rover 13,354 9,374 13v354 9374
General funds 7,968 5,450 8,572 4,814
Total unrestreted Funds 348,671 352420 349,275 351,684
Total charity
Funds		 355,436 35f(555 356,040 357919

2019
N etc S'000 2 coo CQOO
Cash it owe fram ap crating activities
Het cash provkled
by operating		 activities (10,393) (1Q323)
Cash flows fram investing activities:
Dividends, interest and rents from investments 681 510
Loan notes interesr 3A123 3,497
Purchase Of fixed assets (1,636) (2,101)
Acquisition of Heritage Assets (41) (74)
Purchase of investments (1,746) (12,596)
Het cash used in Investing activities 981 (10,764)
Change in cash and cash equivalents in the year (9,412) (21,087)
Cash and cash equivalents at rhe beginning of rhe year 12,822 33,909
Cash and cash equivalents at the end ofthe year 3,410 12,622
Analysis ofcarh end ctwh equivalents and of net debt
Artace y 0th; r -neth Aiat Oar nee
2020 eiliinaet 2020
S'000 2coo CQOO
Cash at bank and
in hand		 12,822 (9,412) 3,41D
Total 12,822 (9,412) 3,410

e) Tangfb(e fixed assets
Depreciation
is prowded		 on a straight
line basis at an annual
rate calculated to wnte dawn each asset (wheh are caprtalised if
the cost exceeds E500) ta its residual value ever the term ofits
expected vsefvl life The rates in vse are as Follows.
Long leasehold
buildings		 2% per annum
Short leasehold
bvildings		 over the remaining
penod of
the lease
Property
improvements		 33%%d —20'%%dperannum
Motor vehicles 20'%%d —25%pera nnvm
Office equipment 10n%%d —25'%%dperannum
Camputer
eqvipment		 20'%%d —33'5pera nnvm
Website 10a%%d per annum
Website software 33
%%d per annum

tier an ed
r inner Eaeenei
ie		 PneWttaeet ee nine Leal uei
2020 caco E'ooa r:a an
Company
RIBA1834Ltd 18,579 19,820 (1,241) (604) 4,138 4,741
RIBA Finanaal ServicasLtd 331 189 142 461 461
acier ed
r rieear Eepenasure Pne V(tenet xiIIlI age Le bit leer
2019 coco coop Eoao
Company
RIBA1834Ltd 21,538 20,901 637 637 7,017 6i379
RIBA Finanaal ServicasLtd 389 232 157 381 381
Included above are intra-group sales of F12,508k (2019:612,666k) induded as turnaver and F14455k (2019 613328k) included as
costs. The parent chanty's gross income and the results for the year are disclosed in note 14

Cbanrable Cbanrable rcsu rres
Cou ofmace
fu 6		 ub ce 0 as sero P otecscn f I Pe so
cecostc		 s ce
cosrs		 Sieur roars 2020
Toter		 20I'9
Toiel
'EtxM r.000 POOO elxlo r.000 POOO E'000 9'000 POOO
Staff costs 1,724 2,031 2,169 3,060 292 6,063 15,339 14,127
Other 2,933 892 785 2,324 346 512 3,921 11,713 15064
De preaason 30 1732 1,762 1,693
4,657 2,953 2,954 6384 346 804 11,716 28,814 30,884
Support costs 3,076 3,516 5,124 (11,716)
Governance costs 211 241 352 (804)
Total expenditure 2020 4,667 6,240 6,711 10,860 346 28,814
Total expenditure 2019 6,563 6346 11,115 211 3r0884

Cba Iableanistm
Cral ofmac9 Pens on Go ernence 20is
bards Voice Orperrsaasn Profassan Snuce cosa cost|Support casts Total
eeoc 0000 coco e000 OOOO 0000 COOO COCO
Staff costs 1,683 1,881 2,099 2,795 189 5,480 14,127
Other 4,966 1512 403 31204 211 404 4,364 15,D64
De prec i ation 20 1,673 1,693
3,413 2,502 5,999 211 593 11,517 30r884
Support costs 2,996 3,656 4,865 (11,5T7)
Governance costs 154 188 251 (593)
Total expenditure 2019 6,649 6,563 Ut346 11,115 211 30')84
aaao 20ia
soon oooo
Dapreoation 1,762 t,693
Operating lease rentals.
Properly 617
Other
Auditors' remuneration (axduding VAT)
Audn 67 38
Other services 3 2

2DBD 2aia
DDDD E.'OOD
Salanes and wages 12,831 11,934
Redundancy and tennnattan costs 408 62
Social security costs 1,307 1,236
Employer's aontnbution to defined contnbution pension schemes 993 895
15,339 14,127

aeaa aeaa 20ia
Na. en.
RIBA Group
Raising funds (RIBA1834 Limited L RIBA Financial Services Limited) 41 39
Voice 55 61
Organisation 48 43
ProFession 65 63
Governance 5 3
Svpporr costs 104 108
Total 318 3CI9
The nvmber
ofemployees		 ofthe RIBAand its subedianes whose emoluments (exdvding employers nanonal insurance) fell in the following
bands were as fofiaws:
E60,000 —669,999 10 14
970,000 - F79,999 7 3
280,000 - F89,999 5 6
690,000 —699,999 1 1
EfOQOOO
-6109,999		 4 3
B12QOOO - f129,999 1
BTJQOOO - 9139,999 1
616QCIOO - 6169,999 2 1
E17QQOO - 2179,999
2280,000
2289,999		 1
8290000 —2299,999 1
LJOQOOO
- E30%999		 1
The emoluments
far the ernplcyee		 in the E30QOOO to 2309,999bracket includes 230,000 renumeration for sennng on the Williams TDPCD
Ltd. board, with
tOOTB of these costs being reimbursed
to		 the RIBA.&47600 was paid m 2019,with &3QOOO relating to 2019and &17500
backdared
for 2018(rhe employee		 was in the F29QOOO to E29ctggg band in 2019)

Ca fir as tv tsiii
r.'ooa c'ooo

Cost Cost
As at I January 2020
Disposal in year
As at 31 December 2020

A mort isation:
As at I Janvary 2020
Eliminated
on dispasai
As at 31December 2020

11. Tangible hxed assets
The grovp 6the charity
price ant
Camar ter Malar
a apemxa aqua
au		 wn aiai rater
E'ooo E'IXO coop s'ooo
Cost
At the starrof the year 35,943 8r610 65 44,618
Additions
in year		 323 1,301 12 1,636
At the end of the year 36,266 9,911 77 48r264
Depreciation
At the start of the year 10,410 5,139 15,614
Charge for the year 978 784 1,762
At the end af the year 1L388 5,923 65 17,376
feet book valve
Ai the end of the year 24,8/8 3r988 12 28,878
At the start ofthe year 25,533 3,471

Heritage a ssets at valuation
Drawng ard Beaks aar Total
corrocrvo pa ocr calx Prxaog opha Dtha 2020
2'DDO eooo CODD rti0o S'000
As at 1January 201,983 17,808 4CI,003 5,322 265,116
Additions —purchases 10 31 41
Additions —donations 108 110
As ai 31December 202,101 17839 40,005 5,322 265,267
Five year summary
Yorar 2D2D Yrnol 201S Yrxar zlie coral 20ip coral 20ie
O'COO c.ocr o C:OOD 2'ODD
As at
'I Jenvery		 265,116 264,983 264277 263,796 263665
Additions —purchases 41 74 37 78 22
Additions —donations 110 59 669 4CI3 109
Revaluation
As ai 31December 265,267 265,116 264,983 264277 263,796

si oacwaav S1accc
trc
2020 2O19
ROOO t.'ooo
Investmants
in group campenies:		 Investmants
in group campenies:
Ordinary shares
RIBA 1834l.imnad
RIBA Finanaal Services Limited
ar De cember 2020
Name Company Number Principal activities
RIBA 1834Ltd 4604934 Vanuas, RIBA Competitions and RIBA publishing.
RI6A Finanaal Serv oes Ltd 4604947 provision of middleware for customers to access pension solutions and other services.

The p arent chanty's gross income and rhe results for the year are di sclosed as follows
2D20 2D19
E'OOD E'ODD
Gross income 20,626 23,732
Result for the year (2,020) 907

202D 2D19
E'000 2'ODD
40,851 37028

16
Liste		 d investments
The gre
up		 Tha oharliy
2020 2019 2D19
Egtoo yooo E'DCO
Fair value at the start of the year 17,220 4,113 17,220 4,113
Addeons at cost 1,746 12496 1,746 12,596
Disposal proceeds
Net gain / floss) on change in fair valve 488 511 488 611
Fair value at the end of the year 19,454 1722CI 19,454 17220
Invesrmenrs
compnse:
The gre
up		 The oherliy
2020 2019 2020 2019
2'000 E.'OOD E'DOO E'DCO
Llnitised funds 19,452 17218 19,452 17218
Cash
19,454 17,220 19,454 17220

The group The oharliy
2020 2019 2019
Egtoo EOOD E'DCO
1,604 1,483

18. Debtors
The grwp The clwap
2Di9 2020 20i9
E'DDD Etteo E'000
Trade debtors 1,416 1,688 648 512
Prepaymenrs and acrrued income 1,964 1,828 1,505 1,447
Orher debrors 76 538 7 438
Due from subsidiary undenakings 3t231 4,310
3,456 4,054 Bt391 6,707

19. Creditor s: a moun ts
falling due within one year
The group The chariir
2DT9 2020 2oi9
Uooo E'DDO ESTM EOOD
Trade creditors 1,D23 1,432 1,D15 1,424
Corporation tax 151
Taxation and senal secunty 594 346 211
Other creditors 207 292 56 62
Accruals and deferred income 4,774 4,981 3,788 3,635
Due to subsidiary undertakings 334 369
6,598 7,202 5,404 5,490
Deferred inrome is pnmerily comprised
of membership
fees p		 aid
in advance:
The group Thecsurer
2020 20i9 2020 20i9
E'ODO E'DDO Eut06 r.0 cia
Balance ar the beginning
of		 the year 2,207 2,901 2,028 2,697
Amount released to income in the year (2,072) (2,840) (1,926) (2,643)
Amount deferred in the year 1,524 2,146 1,296 1,974
Balance at rhe end ofthe ycxhr 1,659 2,207 1398 2,028

Tha group The charity
2020 2D19 2019
E'000 E000 E'DIXI
Acr.rusts 887 971 887 971
971 887 971

General Restroted Erdo menr Tatel
unresirittsd ands funds furua
E'DIXI E'000
Intangible lixed assets 1 1
Tangible
fixed assets		 28,628 250 28,878
Hentage assets 265,267 265267
Invesrmenrs 14,887 515 4,052 19,454
Investments in associated company 40851 40,851
Net current Iiabi4ties (76) 1,948 1,872
Long term babihbes (887) (887)
Defined
benefit pension		 liability
Net assets at the end of the year 348671 2,713 4,052 355,436

General tusttxted Endowment Total
VIlrsslllttsd funds funds funds
0000 rooo C'ODO
Intangible
fixed assets		 1 1
Tangible
fixed assets		 281724 280 2@004
Hentage assets 265,116 265,116
Investments 12,784 537 17,22D
Invesrmenrs in associared company 37028 37,028
Net curreni assets 9638 1,519 11,157
Long term Iiabi4ties (971) (971)
Delined
benefit pension		 liability
Net assets at the end of the year 352,320 2336 3,899 358,555

Ai isa sir inc Epmr a At the and
of the sea' and gars ardlosses Tre afers ofthesee
S'DDD E'DIXI auoo E:000 S'000
Restncted funds (note 22b) 2,336 1,003 (626) 2,713
Endowment funds (note 22c) 3899 153 4,D52
Total rastdcted and endowed funds 5235 'l,l56 (626) 6,765

Aiihe siari Income E gerdr re At she end
oithe ters and gens and losses Tra are re er the sew
RIBA group and RIBAcharity —restricted funds COOO oooo rooo C'OOO
Goldfinger
Trvst		 198 7 (7) 196
Bcyd Auger Scholarship 6 (5) 1
RIBA Education
Fund		 337 42 (122) 257
Rosenberg
Memona		 I 39 (15) 28
Ayyub
Malsk Trust		 31 (23) ll
Drasnngs collection fund —London (2) 11 10 24
Banister Fletcher History of Architecture 15 5 22
Schools Programme 5 5
Rare Books Fund 66 [2) 64
Clore Studio 230 50 (30) 250
Wilsan Catalogue 85 52 (71) 66
Palladio Catalogue 35 9 (37) 26 33
Donald and Nancy Notlay Legacy 545 75 620
John!L. Bawd Hubert legacy 125 (24) 101
Clore Duffield Grant 10 10
Prizes Trust 10 2 (9) 3
Annie Spsnk Memorial Scholarship 116 7 (11) 112
W J Parker Trust 43 15 (31l 27
Lord Norman
Foster		 Travelbng Scholarship 15 10 (2) 23
Research Trust Funds 51 38 (34) 55
Sir Banister Fletcher Library Bequest 24 6 (19) 11
W H Ansell Bequest 44 2 (10) 36
HM Fletcher Merrenal 15 1 16
C McAnhur
Butler		 1 (1)
Nadine
Beddington		 Trust 37 8 (I) (20) 24
Giles Worsley
Fund		 176 11 (7) 180
BALT 50 13 (37) 14 40
Thomas
Malvern
Pnze		 15 1 16
LKE Ozolins Bequest 49 24 ('I) 72
C Jencks Exchange Fund 15 5 (I) 19
RIBA Award Trust 40 18 (I) 57
Henry Jarvis Bequest 28 2 30
IJN Habitat 343 (137) 206
Other 97 33 (34) 96
Total restricted
funds		 Z,336 1,003 (626) 2,713

Endowmenr
funds a		 re invesred togenerate income, which is then h eld in a series of separare
restr		 ictgd
fun		 ds ( see note sh ovel
Ai Ihe stan imo g u eai sed go o At the and
ol tha Sac asoi ms est m to orthasar
RIBA group and RIBAcharity - endowment funds E'DIXI E.'OOO E'ODO
Pnzes Trusl 75 3 78
Annie Spink Memorial Scholarship 99 4 103
WJ Parker Trust 448 18 466
Lord Norman
Fosrer		 Travelling Scholarship 267 11 278
Research Trust Funds 1,096 43 1,139
Sir Banister Fletcher Library Bequest 128 5 133
W H Ansell Bequest 26 1 27
Nadine
Beddinqton		 Trust 196 8 204
Giles Worsley
Fund		 140 5 145
BALT 88 91
EKE Ozottns
Bequest		 665 26 691
C Jencks Exchange Fund 139 5 144
RIBA Award Trust 489 19 508
Henry Jarvts Bequest 24 1 25
Other 19 1 20
Total endowmeni
funds		 3,899 153 4,052

At Ihe start Income Etgerd tuse At the end
oi the Ier and gens and loses Tiamfe is aftha ger
E'ODD CDIXI EOOD E'ODO
Rest ncred funds (note 22e) 1,878 1024 (566) 2,336
Endowment funds (note 22f) 3,508 391 3,899
Total restricted and endowed funds 5,386 1,415 (566) 6,235

AI Ihe slaii I ltoine E gerdi ie At the end
of the ree and gens and losses Tra afe re er the yew
RIBA group end RIBAcharity —restricted fundx c'ooo BOCO OOOO rooo C'Ooo
Drawings collection tund —London 23 (23) 5
Banister Fleicher Hisiory of Archaecture (42) 2
Gordon Rickets Bursary 19 19
Library Exhibition
Fund (Htsnz		 Gallery) 5 5
Heinz Exhibition
Fvnd		 12 12
Giles Worsley
Fund		 172 11 (7) 176
Presdent's
Medal Archive		 10 (3) 7
Clore Studio 150 100 (20) 23D
RIBA Edvcation
Fvnd		 389 76 (128) 337
Wilson Catalogue 52 69 (51) 85
Research Trust Funds 72 38 (59) 51
Prees Trust 7 3 1D
Annie Sptnk Memonal Scholarship 119 7 (10) 116
RIBA Award Trvst 32 17 (9) 40
W J Parker Trust 33 15 (5l 43
Palladio Catalogue (20) 55 35
Str Banister Fletcher Library Bequest (1) (10) 24
W H Ansell Beqvest 42 2 44
Nadine
Beddfngton
Trust		 55 8 (26) 37
Henry Jarvis Bequesl 26 2 26
Goldfinger
Trust		 191 7 198
EKE Ozolfns Bequest 43 23 (17) 49
C Jencks Exchange Fund 22 6 (13) 15
RSReynolds
Awards		 14 14
Lord Norman
Foster Travelling		 Scholarship 15 (9) 15
Donald
and Nancy Notley		 Legacy 545 545
BALT 119 5 (24) (50) 50
RIBA East —CPD Fund 18 (2) 16
Rare Books Fund 74 (8) 66
Other 100 60 (114) 16 62
Total rest dc ted
funds		 1,878 1,024 (566) 2,336

Endowmenr
funds a		 re invesred togenerate income, which is then h eld in a series of separare
restr		 icted
fun		 ds ( see note ab ovel
at the stan imo g u eai ted go o At the end
or the tea coot mt rot m to ortheter
RIBA group and RIBAcharity - endowment funds s'olxl s'ooo s'ooo
Pnzes Trusl 67 8 76
Annie Spink Memorial Scholarship 89 10 99
WJ Parker Trust 402 46 448
Lord Norman
Fosrer		 Travelling Scholarship 241 26 267
Research Trust Funds 986 110 i096
Sir Banister Fletcher Library Bequest 116 12 128
W H Ansett Bequest 23 26
Nadine
Beddinqton		 Trust 176 20 196
Giles Worsley
Fund		 127 13 140
6ALT 79 9 88
LKE Ozottns
Bequest		 598 67 665
C Jencks Ettchange Fund 126 13 139
RIBA Award Trust 439 50 489
Henry Jarvts Bequest 22 2 24
Other 17 2 19
Total endowment
funds		 3,508 391 3,899
234.
tfnre
RIBdt Group		 stricted
fu		 nd a - current year
Ai the start Net rrevemeni- At the end
efthe ree rm ffe i u eit Kihd fu df ofthe feÃ
E'oco eeoo c'000
Revaluation reserve Bt639 l65) 6,574
Hentage assets reserves 264,582 110 264,692
Inveslmenl in assooated company 37028 3,823 40,851
Feed assets reserve 15,680 (448) 15,232
Investmenr for growth fund 13,567 tt3,567)
Two-year defiot cover 9,374 3,980 13,354
General reserve 5,450 65 2,453 7,968
352,320 (3,649) 348,671
RIBA charity
Revaluation reserve 6,639 [65) 6,574
Hentage assets reserves 264,582 110 264,692
Invesrmenr in assopated company 37028 @323 40,851
Fined assets reserve 16,680 (448) 15,232
Invesimant for growth fund 13,567 (13,567)
Two-year deliot ccver ct374 3,980 13,354
Genera
I reserve		 4,814 65 3,693 8,572
351,684 (2,409) 349,275

23b. (fnre
RIBA Group		 stdcted
fu		 nd s - prior year
AI Ihe start Nei n»femeni- At the end
ofthe fee rm ife i u eit Kivd fu di ofIhe roe
E'OIXI CO00 C'000
Revaluation reserve 6,703 (64) 6,639
Hentage assets reserves 264,523 59 264,582
Inveslmenl in assoaated company 30241 6287 37028
Feed assets reserve 16,164 (484) 15,6BD
Investment for growth fund tfv000 (2,433) 13,567
Four year defiat cover 12,362 (2,988) 9,374
General reserve 4975 64 411 5,450
351,468 852 352,320
RIBA charity
Revaluation reserve 6,703 (64) 6,639
Hentage assets reserves 264,523 59 264,582
Invesrmenr in assoaated company 30,741 6,287 37,028
Fi~ed assets reserve 16164 (484) 15,680
Investment far growth fund 16,000 (2,433) 13,567
Faur-year defiat eever 12362 (2,988) 9,374
Generalreserve 5,134 64 (384) 4,814
351,627 57 351,684
2020
Net (expenditure)/incame for the reporting period
(as per the statement
of		 Bnanclal a«tlvlties) (3,465) 1,490
Depreaation
charges		 1,762 1,693
Amortisation
of goodwill
(Gains) on nvestments (488) (511)
Hentage assets donated (110) (59)
Divxfends,
interest and rent from Investments		 (4,404) (4,007)
Loss on the disposai of fixed assets 6
Disposal af subwdiary
assets
(Increase)
In stacks		 (121) (307)
Decrease/(increase)
in debtors		 598 (291)
(Decrease)
in creditors		 (688) (2,261)
Pension reserve funding movements 346 211
Movement
on nvestment		 in assaaate (3,823) (fv287)
Net cash provided
by operating
activities		 (10,393) (10,323)

P aprny
2or9
The group Lthe charity oooo r.'ODD
Less than one year 359 428
Between two and five years 807 944
Over five years 1,188 1,380
2,354 2,752
Pi apery
202D 2D19
s'ooo e'DDD
Less than one year 359 428
Between two and five years 807 944
Over five years 1,188 1,380
2,354 2752

'rew eared Vei e ded
Sl/l2/2020 3///2/2/ne
0'000 l.'000
Defined benefit obligation at beginning of year 55,036 51,021
(Gain)/toss on cunei)ments/changes/introductions 10
Interesl e~pense 1,078 1,380
Cash flow Benefit payments
from plan		 assets (2,310) (2,981)
Rerneasurernents
Effect ofchanges in assumptions 4,440 5,516
Effect ofexpenence
adlustments		 1170
Benelit obligation at end ofyear 59,424 55,036

Veer ended 'tee ended
st/ra/2020 sl//2/2019
0'000 2'000
Fair value of plan assets at beginning ofyear 65,255 60,067
Interest income 1,277 1,626
Cash flows:
Employer
contnbusons
Benelit payments from plan assets (2,310) (2,981)
Administratrre expenses pard from plan assets (535) (457)
Remeasurernent. Rerum on plan assers (exrluding interest inrorne) 9,474 7,000
Fair value of plan assets at end of year 73,161 65,255

Y«ir ended Yea
e ded
sins/202D 31/12/2 D19
2'000 2'OOD
Defined
benefit obligation		 59,424 55,D36
Fair value of plan assets 73,161 65,255
Funded status (13,737) (1f2219)
Effecr of asset carting 13,737 IQ219
Net defined
benefit (asset)

Year ended Yea ended
st/12/2020 31/12/2 Dl9
«'000 DODD
Fair value of plan assets:
Debt instruments 68,3OD 63,D75
Other 1,489 1,446
Cash and cash equivalents 3,372 734
Total 73,161 65,255
Actual rerum on plan assers 10,751 8,626

Y«ir ended Vea a ded
stnz/zozo S1/id/ZO1 9
s'ooo z'ooo
Cost (excluding
interest)
(Gain)/loss on curtailments/changes/introdvctions 10
Net interest cost:
Interest expense on DBO 1,076 1,380
Interest (inrorne) on plan assets (1,277) (1,626)
Total net interest cost (199) (246l
Administrative
expenses and/or taxes (not reserved		 within DBO) 535 457
Cost relating
to defined
benefit plans recognized		 in SOFA 346 211
Rerneasvrernents (recognised
m the SOFA)
Effect of changes in assumptions 4,440 5,616
Elfeel of expenence
adlustments
(Return) on plan assets (excluding interest income) (9,474) (7,CICIO)
Changes
in asset		 ceiling (excluding interest income) 4,688 1,173
Total rerneasurernents
rnc(uded
in		 other comprehensive income (346) (211l
Total cost related to defined
benefit		 plans recognized in SOFA

Year ended Yea a ded
St/1Z/ZOZO 41/1Z/2 O19
Weighted-average
assvmptions
to determine		 benefit obligetlonx:
Discovnt rate 140% 2.00%
Pnce infiation raie (RPI) 2.90% 3.00%
Pensions-in-payment
increase rate
Pre Tt1989 —simple 7.00% 7CI0%
Posr 1,1,1989 —compovnd 5.00% 500%
Assumed
life expectations
on retirement
at age 65
Male retinng
today (member age 65)		 22.5 22.7
Male res nng
in 20years (member age 45 today)		 24.0 244
Female retiring today (member age 65) 245 24.9
Fernale retinng
in 20years (member		 age 45 today) 2518 263
Weighted
average assumptions
used		 to determine net pension cost
Discount rate 2.00% 2.80%
Rate of pension
increase
—Pre 1January1989		 (simple) 7.DD% 70CI%
Rate of pension
increase
—Post 1 January 1989(rornpound)		 5.D0% 50CI%
Price inflation
rate (RPI)		 3.00% 3.20%

Expected cash Rows for following year Rows for following year Rows for following year Rows for following year Si/32/2029 si//2/2019
Expected total benafit payments
Year 1 2,45D
Year 2 2n599
Year 3 2,758
Year 4 2,928
Year 5 3,1D9
Next 5years 18,716
Membership
statistics
Census date si/32/2OI9 31/12/2016
Active:
a Number
b Total annual pensionable pay
c.Average pensionable pay
d. Average age
e Average past service
Vested deferred:
a. Number 57 75
b Average annual pension 5,564 5,420
c.Average age 57.D 55.7
Retlrees:
a. Number 128 125
b Average annual pension 16,689 15595
r Average age 74.4 74.0