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2020-12-31-accounts

REGISTERED CHARITY NUMBER: 211836

Report of the Trustees and

Financial Statements for the Year Ended 31 December 2020

for

GORING HEATH CHARITIES - THE ALLNUTT AND BAKER ALMSHOUSE AND EDUCATIONAL TRUST

Knox Cropper LLP 153-155 London Road Hemel Hempstead Hertfordshire HP3 9SQ

GORING HEATH CHARITIES - THE ALLNUTT AND BAKER ALMSHOUSE AND EDUCATIONAL TRUST

Contents of the Financial Statements for the Year Ended 31 December 2020

Page
Report of the Trustees 1 to 5
Report of the Independent Auditors 6 to 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11 to 22

GORING HEATH CHARITIES - THE ALLNUTT AND BAKER ALMSHOUSE AND EDUCATIONAL TRUST

Report of the Trustees for the Year Ended 31 December 2020

The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of 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 2019).

OBJECTIVES AND ACTIVITIES

Objectives

Goring Heath Charities provides accommodation for retired, or soon to be retired, men and women who have a local connection in the area of benefit as set out in the Charity Commission Scheme Document of 21st July, 1997. Applications are welcomed from all eligible persons.

We aim to provide for our residents comfortable, well-maintained and affordable homes, together with communal facilities and support, within a friendly community and in a rural setting.

Benefits and activities

We have twelve almshouses, providing accommodation for both single people and couples.

A number of the almshouses are built around a courtyard which includes, as a central feature, the Chapel. Our principal buildings are Grade I listed. The Chapel is open to the public as well as residents and regular services are conducted by the Chaplain.

Other facilities include a common room, and the newly formed Goring and Almshouses Bowls Club. This is a merger of the previous Almshouse Bowling Club and the Goring Bowling Club; it includes both residents and non-residents as members. A number of residents also greatly enjoy tending the allotments which are available.

Chapel services and social activities were severely curtailed during the Covid-19 pandemic restrictions, but we now look forward to an appropriate return to these from April 2021. Appropriate assistance was provided to our residents by the Warden during the periods of lockdown.

Residents pay maintenance contributions and fuel charges, but these are subsidised from the rental and investment income of the Charity and residents in need can obtain universal credit or housing benefit in respect of the maintenance contributions.

Public benefit

The Trustees of the Charity have had regard to the Charity Commission's guidance on "public benefit" when exercising powers under the Charity's object. Our main activities and whom we aim to help are described above. All our activities are undertaken to further our charitable purposes for the public benefit.

Page 1

GORING HEATH CHARITIES - THE ALLNUTT AND BAKER ALMSHOUSE AND EDUCATIONAL TRUST

Report of the Trustees for the Year Ended 31 December 2020

FINANCIAL REVIEW

Reserves and investment policy

In a typical year resources expended are greater than income from residents with the shortfall being met from investment income. The Charity therefore holds a range of property and financial investments, which generate the necessary income.

Non-property investments are managed by professional fund managers who have delegated authority to act within constraints specified by the Trustees. The investment managers are charged with maximising investment income subject to maintaining good capital growth by investing in managed charity funds in the UK and overseas. At 31st December 2020, our investments totalled £922,465 compared with £899,529 at 31st December 2019. Bonds and cash accounted for about 18% of our portfolio - with 64% being invested in equities, 5% in property funds and 8% in alternative investments.

Results for the year

We maintained a satisfactory financial position during 2020 despite expenditure exceeding income. This was due to various issues arising during the year including further repair and maintenance work to Allnutt House as well as installing a boiler in the property. A new boiler was also needed in School House and a necessary upgrade was completed to the pellet store in our principal boiler room. Additional repair and maintenance works were also undertaken on Woodland Cottage and School House following the discovery of water leaks. These costs were offset by the deferment (due to the Covid-19 pandemic) of a planned external maintenance project for the main buildings. It is intended that this will now be carried out during the summer of 2021.

Whilst our dividend income reduced as a result of the impact on our investments arising from the Covid-19 pandemic, this was offset by an overall increase in the income we received from commercial rents. Nevertheless, we finished the year with total funds of over £2.17 million, compared with £2.19 million at 31st December 2019, as a result of the small decrease in the net gains on our investments over the year, compared to prior year. The value of our investment portfolio has recovered and as at 30 June 2021 stood at £978,967.

.

Page 2

GORING HEATH CHARITIES - THE ALLNUTT AND BAKER ALMSHOUSE AND EDUCATIONAL TRUST

Report of the Trustees for the Year Ended 31 December 2020

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Goring Heath Charities is regulated by a scheme of the Charity Commissioners dated 22nd January, 1988 and is administered by a body of Trustees who are listed below.

Governance and management

The Trustees are responsible for the strategic direction of the Charity. They take decisions on important issues such as the appointment of residents, investments and maintenance of and improvements to the property. They meet regularly and receive regular reports from the Clerk, the Chaplain and the Warden.

Day to day administration is in the hands of the Clerk. The Warden and the Chaplain provide pastoral care and support for the residents. The Warden also has day-to-day responsibility for facilities management.

Trustees have regular contact with residents including in Chapel and on social occasions.

In addition to their collective responsibility for the direction of the Charity, individual Trustees take on different responsibilities in connection with the maintenance and enhancement of the estate, the pastoral care of the residents, the promotion of the Charity, fundraising and financial matters and in support of the Clerk, Chaplain and Warden.

As always, my fellow trustees, together with Ian Gair, Belinda Clarke and Peter Dewey, have worked hard to preserve and improve the facilities and ambience of the Almshouses and its estate and my thanks are due to them.

On behalf of the Trustee board, I would especially like to pay tribute to Michael Roberts for his long and valued service as Chairman and a Trustee. Michael retired in April having been a Trustee for sixteen years with the last six as chairman. His careful husbandry of our finances and calm and professional leadership as Chairman has provided the Charity with a very solid base for the future and we thank him for his dedication and hard work over the years.

Recruitment and appointment of new trustees

The Trustees seek to ensure that between them they have the range of expertise and experience required to ensure the effective running of the Almshouses (e.g., relating to property matters, estate management and finance). When a vacancy occurs they seek out candidates, with the appropriate skills and experience, from the local community.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

211836

Principal address

The Office Almshouses Goring Heath Oxfordshire RG8 7RS

Page 3

GORING HEATH CHARITIES - THE ALLNUTT AND BAKER ALMSHOUSE AND EDUCATIONAL TRUST

Report of the Trustees for the Year Ended 31 December 2020

Trustees

Garry Forster (Chairman) Michael Roberts (retired 16th April 2021) Charlotte Brind Ann Dendy (retired 15th January 2021) Nick Henry James Maclachlan Martina Platts

Auditors

Knox Cropper LLP 153-155 London Road Hemel Hempstead Hertfordshire HP3 9SQ

Clerk to the Trustees

Belinda Clarke

Chaplain

The Reverend Peter Dewey

Warden

Ian Gair

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in note 19 to the financial statements, Impact of Covid-19 on the charity.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees 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, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are 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.

Page 4

GORING HEATH CHARITIES - THE ALLNUTT AND BAKER ALMSHOUSE AND EDUCATIONAL TRUST

Report of the Trustees for the Year Ended 31 December 2020

Approved by order of the board of trustees on 16 July 2021 and signed on its behalf by:

Trustee

Page 5

Report of the Independent Auditors to the Trustees of Goring Heath Charities - The Allnutt and Baker Almshouse and Educational Trust

Opinion

We have audited the financial statements of Goring Heath Charities - The Allnutt and Baker Almshouse and Educational Trust (the 'charity') for the year ended 31 December 2020 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. 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

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Page 6

Report of the Independent Auditors to the Trustees of Goring Heath Charities - The Allnutt and Baker Almshouse and Educational Trust

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

• We gained an understanding of how the charity complied with its legal and regulatory framework, including the requirement to properly account for restricted funds, through discussions with management and a review of the documented policies, procedures and controls.

• Our approach was to check that all restricted income was properly identified and separately accounted for and to ensure that only valid and appropriate expenditure was charged to restricted funds. This included reviewing journal adjustments and unusual transactions.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 7

Report of the Independent Auditors to the Trustees of Goring Heath Charities - The Allnutt and Baker Almshouse and Educational Trust

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Knox Cropper LLP Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 153-155 London Road

Hemel Hempstead Hertfordshire HP3 9SQ

16 July 2021

Page 8

GORING HEATH CHARITIES - THE ALLNUTT AND BAKER ALMSHOUSE AND EDUCATIONAL TRUST

Statement of Financial Activities for the Year Ended 31 December 2020

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
6,436
Charitable activities
Income from residents
78,990
Other trading activities
2
17,371
Investment income
3
77,574
Other income
248
Total
180,619
EXPENDITURE ON
Raising funds
4
4,103
Charitable activities
5
Expenditure on Almshouses and other
property
209,814
Chapel expenditure
-
Total
213,917
Net gains on investments
22,205
NET INCOME/(EXPENDITURE)
(11,093)
Transfers between funds
15
(10,904)
Net movement in funds
(21,997)
RECONCILIATION OF FUNDS
Total funds brought forward
1,942,186
TOTAL FUNDS CARRIED FORWARD
1,920,189		 Restricted
funds
£
2,438
-
-
1,161
-
3,599
594
17,647
12,336
30,577
13,260
(13,718)
10,904
(2,814)
251,298
248,484		 2020
Total
funds
£
8,874
78,990
17,371
78,735
248
184,218
4,697
227,461
12,336
244,494
35,465
(24,811)
-
(24,811)
2,193,484
2,168,673		 2019
Total
funds
£
5,819
79,045
18,643
75,945
793
180,245
4,642
266,574
14,151
285,367
115,600
10,478
-
10,478
2,183,006
2,193,484

The notes form part of these financial statements

Page 9

GORING HEATH CHARITIES - THE ALLNUTT AND BAKER ALMSHOUSE AND EDUCATIONAL TRUST

Balance Sheet 31 December 2020

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
11
1,117,606
Investments
12
800,950
1,918,556
CURRENT ASSETS
Debtors
13
3,653
Cash at bank
6,669
10,322
CREDITORS
Amounts falling due within one year
14
(8,689)
NET CURRENT ASSETS
1,633
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,920,189
NET ASSETS
1,920,189
FUNDS
15
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
126,969
121,515
248,484
-
-
-
-
-
248,484
248,484		 2020
Total
funds
£
1,244,575
922,465
2,167,040
3,653
6,669
10,322
(8,689)
1,633
2,168,673
2,168,673
1,920,189
248,484
2,168,673		 2019
Total
funds
£
1,289,335
899,529
2,188,864
4,265
54,907
59,172
(54,552)
4,620
2,193,484
2,193,484
1,942,186
251,298
2,193,484

The financial statements were approved by the Board of Trustees and authorised for issue on 16 July 2021 and were signed on its behalf by:

Trustee

The notes form part of these financial statements

Page 10

GORING HEATH CHARITIES - THE ALLNUTT AND BAKER ALMSHOUSE AND EDUCATIONAL TRUST

Notes to the Financial Statements for the Year Ended 31 December 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Financial reporting standard 102 - reduced disclosure exemptions

The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Properties - 1% on cost Conversion costs - 1% on cost Other authorised improvements - 10% on cost and 1% on cost Chapel and Almshouses furniture and equipment - 25% on cost

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.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Page 11

continued...

GORING HEATH CHARITIES - THE ALLNUTT AND BAKER ALMSHOUSE AND EDUCATIONAL TRUST

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

1. ACCOUNTING POLICIES - continued

Fund accounting

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Going concern

After reviewing the charity's forecasts and projections, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing the financial statements.

2.

3.

OTHER TRADING ACTIVITIES
Renewable Heat Incentive
INVESTMENT INCOME
Rent - The School House
Rent - Allnutt House
Rent - Woodland Cottage
Rent - Grazing
Dividends
Deposit account interest		 2020
£
17,371
2020
£
12,661
41,850
11,960
602
11,638
24
78,735		 2019
£
18,643
2019
£
14,084
33,635
11,917
602
15,646
61
75,945

Page 12

continued...

GORING HEATH CHARITIES - THE ALLNUTT AND BAKER ALMSHOUSE AND EDUCATIONAL TRUST

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

4.
RAISING FUNDS
Investment management costs
Portfolio management
5.
CHARITABLE ACTIVITIES COSTS
Expenditure on Almshouses and
other property
Chapel expenditure
6.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Staff costs
Fuel (oil and wood pellet)
Electricity
Water
Council tax
Insurance
Chapel expenditure
Repairs and maintenance - Chapel
Repairs and maintenance - Grounds
Repairs and maintenance - Boilers and water
Repairs and maintenance - Allnutt House
Repairs and maintenance - Almshouses
Repairs and maintenance - Small capital items
Repairs and maintenance - Woodland Cottage
Repairs and maintenance - School House
Repairs and maintenance- Old School Cottage
Agent letting fees
Welfare grants and donations
Depreciation		 Direct
Costs (see
note 6)
£
203,157
12,336
215,493		 2020
£
4,697
Support
costs (see
note 7)
£
24,304
-
24,304
2020
£
26,400
20,540
10,055
1,489
2,464
4,999
1,465
421
19,636
6,258
4,938
20,641
269
6,679
20,025
3,334
501
1,748
63,631
215,493		 2019
£
4,642
Totals
£
227,461
12,336
239,797
2019
£
25,246
20,611
12,753
2,036
2,539
4,976
3,591
385
15,896
6,723
70,572
24,166
2,490
303
1,065
3,296
4,292
1,292
61,744
263,976

Page 13

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GORING HEATH CHARITIES - THE ALLNUTT AND BAKER ALMSHOUSE AND EDUCATIONAL TRUST

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

7. SUPPORT COSTS

Governance
Management
costs
£
£
Expenditure on Almshouses and other
property
20,344
3,960
Support costs, included in the above, are as follows:
Management
2020
Expenditure
on
Almshouses
and other
property
£
Wages
8,850
Pensions
744
Telephone, postage, stationery & website
2,111
Sundries
378
Professional fees
8,083
Travelling expenses
174
Social
4
20,344
Governance costs
2020
Expenditure
on
Almshouses
and other
property
£
Auditors' remuneration
3,960		 Totals
£
24,304
2019
Total
activities
£
8,862
638
2,163
509
-
194
543
12,909
2019
Total
activities
£
3,840

Support costs, included in the above, are as follows:

Management

Governance costs

Page 14

continued...

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

GORING HEATH CHARITIES - THE ALLNUTT AND BAKER ALMSHOUSE AND EDUCATIONAL TRUST

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.

9. STAFF COSTS

Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
Warden and Chaplain
Administration		 2020
£
35,250
744
35,994
2020
2
1
3		 2019
£
34,108
638
34,746
2019
2
1
3

No employees received emoluments in excess of £60,000.

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Income from residents
Other trading activities
Investment income
Other income
Total
EXPENDITURE ON
Raising funds		 Unrestricted
funds
£
1,486
79,045
18,643
74,688
793
174,655
4,080		 Restricted
funds
£
4,333
-
-
1,257
-
5,590
562		 Total
funds
£
5,819
79,045
18,643
75,945
793
180,245
4,642

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GORING HEATH CHARITIES - THE ALLNUTT AND BAKER ALMSHOUSE AND EDUCATIONAL TRUST

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

10.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
funds
funds
£
£
Charitable activities
Expenditure on Almshouses and other
property
248,927
17,647
Chapel expenditure
-
14,151
Total
253,007
32,360
Net gains on investments
106,454
9,146
NET INCOME/(EXPENDITURE)
28,102
(17,624)
Transfers between funds
(9,817)
9,817
Net movement in funds
18,285
(7,807)
RECONCILIATION OF FUNDS
Total funds brought forward
1,923,901
259,105
TOTAL FUNDS CARRIED FORWARD
1,942,186
251,298		 Total
funds
£
266,574
14,151
285,367
115,600
10,478
-
10,478
2,183,006
2,193,484

Page 16

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GORING HEATH CHARITIES - THE ALLNUTT AND BAKER ALMSHOUSE AND EDUCATIONAL TRUST

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

11. TANGIBLE FIXED ASSETS

Properties
£
COST
At 1 January 2020
730,295
Additions
-
At 31 December 2020
730,295
DEPRECIATION
At 1 January 2020
145,590
Charge for year
7,303
At 31 December 2020
152,893
NET BOOK VALUE
At 31 December 2020
577,402
At 31 December 2019
584,705
12.
FIXED ASSET INVESTMENTS
Shares
Broker cash		 Conversion
costs

£
192,897
-
192,897
38,580
1,929
40,509
152,388
154,317		 Other
authorised
improvements
£
1,040,273
18,871
1,059,144
489,960
54,399
544,359
514,785
550,313		 Chapel
and
Almshouses
furniture
and

equipment
£
34,837
-
34,837
34,837
-
34,837
-
-
2020
£
822,728
99,737
922,465		 Totals
£
1,998,302
18,871
2,017,173
708,967
63,631
772,598
1,244,575
1,289,335
2019
£
886,079
13,450
899,529

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GORING HEATH CHARITIES - THE ALLNUTT AND BAKER ALMSHOUSE AND EDUCATIONAL TRUST

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

12. FIXED ASSET INVESTMENTS - continued

Additional information as follows:

Listed
investments
£
MARKET VALUE
At 1 January 2020 886,079
Additions 165,354
Disposals (264,170)
Revaluations 51,512
Realised gains/(losses) (16,047)
At 31 December 2020 822,728
NET BOOK VALUE
At 31 December 2020 822,728
At 31 December 2019 886,079

Included within listed investments were investment assets outside the UK of £381,823 (2019: £342,714)

The following investments represent those holdings that, by market value, exceed 5% of the total market value of the listed investment portfolios.

Proportion of
Market total listed
Investec Wealth & Investment Ltd Holding values£ value %
T Bailey Fund Serv Evenlode Gbl Inc F GBP Acc 35,088 60,556 7.4
Ishares Vii Plc Core S&P 500 Ucits Etf USD 200 55,159 6.7
Investments (neither listed nor unlisted) were as follows:
2020 2019
£ £
Broker cash 99,737 13,450

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GORING HEATH CHARITIES - THE ALLNUTT AND BAKER ALMSHOUSE AND EDUCATIONAL TRUST

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Dividend accrued income
Prepayments and accrued income
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
Deferred income
Accrued expenses
15.
MOVEMENT IN FUNDS
Net
movement
At 1.1.20
in funds
£
£
Unrestricted funds
Permanent Endowment Fund
1,336,078
(2,360)
General Investment Fund
365,786
(14,527)
Almshouse Extraordinary Repair Fund
142,209
7,935
Cyclical Maintenance Fund
94,824
(8,454)
Working Fund
3,289
6,313
1,942,186
(11,093)
Restricted funds
Loan Repayment Fund
106,682
13,827
Chapel Fund
-
(9,898)
Almshouse Restoration Fund
144,616
(17,647)
251,298
(13,718)
TOTAL FUNDS
2,193,484
(24,811)		 2020
£
1,087
2,566
3,653
2020
£
-
550
8,139
8,689
Transfers
between
funds
£
-
11,568
(6,734)
(6,682)
(9,056)
(10,904)
1,006
9,898
-
10,904
-		 2019
£
1,330
2,935
4,265
2019
£
19,334
24,350
10,868
54,552
At
31.12.20
£
1,333,718
362,827
143,410
79,688
546
1,920,189
121,515
-
126,969
248,484
2,168,673

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GORING HEATH CHARITIES - THE ALLNUTT AND BAKER ALMSHOUSE AND EDUCATIONAL TRUST

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

15. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
Permanent Endowment Fund
General Investment Fund
Almshouse Extraordinary Repair Fund
Cyclical Maintenance Fund
Working Fund
Restricted funds
Loan Repayment Fund
Chapel Fund
Almshouse Restoration Fund
TOTAL FUNDS		 Incoming
resources
£
-
7,122
1,727
1,627
170,143
180,619
1,161
2,438
-
3,599
184,218		 Resources
expended
£
(13,073)
(35,847)
(726)
(441)
(163,830)
(213,917)
(594)
(12,336)
(17,647)
(30,577)
(244,494)		 Gains and
Movement
losses
in funds
£
£
10,713
(2,360)
14,198
(14,527)
6,934
7,935
(9,640)
(8,454)
-
6,313
22,205
(11,093)
13,260
13,827
-
(9,898)
-
(17,647)
13,260
(13,718)
35,465
(24,811)

Comparatives for movement in funds

Unrestricted funds
Permanent Endowment Fund
General Investment Fund
Almshouse Extraordinary Repair Fund
Cyclical Maintenance Fund
Working Fund
Restricted funds
Loan Repayment Fund
Chapel Fund
Almshouse Restoration Fund
TOTAL FUNDS		 At 1.1.19
£
1,318,259
374,868
117,786
94,801
18,187
1,923,901
96,842
-
162,263
259,105
2,183,006		 Net
movement
in funds
£
17,819
16,968
26,532
11,350
(44,567)
28,102
9,840
(9,817)
(17,647)
(17,624)
10,478		 Transfers
between
funds
£
-
(26,050)
(2,109)
(11,327)
29,669
(9,817)
-
9,817
-
9,817
-		 At
31.12.19
£
1,336,078
365,786
142,209
94,824
3,289
1,942,186
106,682
-
144,616
251,298
2,193,484

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GORING HEATH CHARITIES - THE ALLNUTT AND BAKER ALMSHOUSE AND EDUCATIONAL TRUST

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

15. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
Permanent Endowment Fund
General Investment Fund
Almshouse Extraordinary Repair Fund
Cyclical Maintenance Fund
Working Fund
Restricted funds
Loan Repayment Fund
Chapel Fund
Almshouse Restoration Fund
TOTAL FUNDS		 Incoming
resources
£
-
9,919
2,135
2,338
160,263
174,655
1,256
4,334
-
5,590
180,245		 Resources
expended
£
(13,073)
(33,892)
(718)
(494)
(204,830)
(253,007)
(562)
(14,151)
(17,647)
(32,360)
(285,367)		 Gains and
Movement
losses
in funds
£
£
30,892
17,819
40,941
16,968
25,115
26,532
9,506
11,350
-
(44,567)
106,454
28,102
9,146
9,840
-
(9,817)
-
(17,647)
9,146
(17,624)
115,600
10,478

General Investment Fund

This represents the net book value of fixed assets (both properties and financial investments) which are not held in other funds.

Almshouse Extraordinary Repair Fund

This represents amounts set aside for providing extraordinary repairs, improvement or rebuilding of the Almshouses, Allnutt House and other property belonging to the Charity.

Cyclical Maintenance Fund

This represents amounts set aside for ordinary maintenance and repair of the Almshouses and other property belonging to the Charity which recur at infrequent intervals.

Working Fund

This represents the general unrestricted funds that are available for the charity to use as they see fit.

Permanent Endowment Fund

This represents the net book value of properties gifted to the charity. It also includes an element of financial investments, purchased from the proceeds of disposal of a property.

Loan Repayment Fund

This Fund was set up to recoup capital sums expended with the specific authority of the Charity Commissioners. The Charity Commissioners' orders provide that such capital sums should be recouped out of the annual income of the Charity by annual payments over periods stipulated by the orders.

Chapel Fund

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This represents chapel collections and donations given for expenditure on the chapel and related salaries.

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GORING HEATH CHARITIES - THE ALLNUTT AND BAKER ALMSHOUSE AND EDUCATIONAL TRUST

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

15. MOVEMENT IN FUNDS - continued

Almshouse Restoration Fund

This represents monies given to the charity in order to fund the roof restoration and boiler replacements of the Almshouses.

16. CONTINGENT LIABILITIES

There were no known contingent liabilities at 31st December 2020 or 2019.

17. CAPITAL COMMITMENTS

There were no commitments as at 31st December 2020 or 2019.

18. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2020.

19. IMPACT OF COVID-19 ON THE CHARITY

The pandemic is ongoing at time of signing these accounts. The investments have recovered from the losses made in the early part of 2020. With the lockdown easing in April 2021 it is hoped that any further impact will be insignificant to the charity.

Page 22