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2021-12-31-accounts

REGISTERED CHARITY NUMBER: 211836

Report of the Trustees and

Financial Statements for the Year Ended 31 December 2021

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 2021

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Page
Chairman's Report 1
Report of the Trustees 2 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 21
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GORING HEATH CHARITIES - THE ALLNUTT AND BAKER ALMSHOUSE AND EDUCATIONAL TRUST

Chairman's Report for the Year Ended 31 December 2021

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 all of them. It is very gratifying that all our trustees continue to give freely of their time and expertise to enable the Charity to continue its long existence and provide a comfortable and tranquil environment for our Residents.

On behalf of the trustee board, I would especially like to pay tribute to Charlotte Brind for her long and valued service as a trustee. Charlotte retired in October having been a trustee for ten years.

Page 1

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

Report of the Trustees for the Year Ended 31 December 2021

The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. 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, social activities organised by the Residents and our Warden. A number of residents also greatly enjoy tending the allotments which are available.

Happily, chapel services and social activities curtailed during the Covid-19 pandemic restrictions, have now returned to normal. Appropriate assistance was provided to our residents by the Warden and our Chaplain during the periods of restricted lockdown.

Residents pay maintenance contributions and fuel charges, but these are subsidised from the rental and investment income of the Charity and any 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 2

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

Report of the Trustees for the Year Ended 31 December 2021

FINANCIAL REVIEW

Reserves and investment policy

In a typical year, resources expended are greater than the income from our residents with the shortfall being met from investment and rental 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 2021, our investments totalled £991,383 compared with £922,465 at 31st December 2020. Bonds and cash accounted for about 20% of our portfolio - with 60% being invested in equities, 5% in property funds and 15% in alternative investments.

Results for the year

We maintained a satisfactory financial position during 2021. Expenditure did exceed income as we undertook significant, planned external decorations and repair work to the main buildings of the Almshouses during the summer of 2021. Included in the creditors on the Balance Sheet is £8,000 relating in part to a retention payment due on completion of these external repairs. We also had to replace two standalone boilers which had reached the end of their working life. We finished the year with total funds of over £2.18 million, compared with £2.17 million at 31st December 2020. Net gains on investments improved to £96,603 in 2021, compared with £35,465 in 2020.

Increases to our resident's weekly maintenance charges and fuel payments are being made in 2022, in order to help combat inflation.

.

Page 3

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

Report of the Trustees for the Year Ended 31 December 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

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 each quarter 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.

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

Trustees

Garry Forster (Chairman) Sally Bergman (Appointed 15th October 2021) Nick Henry Anne Knee-Robinson (Appointed 29th July 2021) James Maclachlan Martina Platts Ann Dendy (retired 15th January 2021) Michael Roberts (retired 16th April 2021) Charlotte Brind (retired 15th October 2021)

Page 4

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

Report of the Trustees for the Year Ended 31 December 2021

REFERENCE AND ADMINISTRATIVE DETAILS

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

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Annual Report 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, Charity (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 Charity (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.

Approved by order of the board of trustees on 15 July 2022 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 2021 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

• The Charity is required to comply with charity law and, based on our knowledge of its activities, we identified that the legal requirement to accurately account for restricted funds was of key significance.

• 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.

• The audit team, which is experienced in the audit of charities, considered the charity's susceptibility to material misstatement and how fraud may occur. Our considerations included the risk of management override.

• 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 153-155 London Road Hemel Hempstead Hertfordshire HP3 9SQ

15 July 2022

Page 8

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

Statement of Financial Activities for the Year Ended 31 December 2021

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Income from residents
Other trading activities
2
Investment income
3
Other income
Total
EXPENDITURE ON
Raising funds
4
Charitable activities
5
Expenditure on Almshouses and other
property
Chapel expenditure
Total
Net gains on investments
NET INCOME/(EXPENDITURE)
Transfers between funds
15
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
2,351
80,527
20,561
81,189
246
184,874
4,552
237,881
-
242,433
90,230
32,671
(11,407)
21,264
1,920,189
1,941,453		 Restricted
funds
£
3,026
-
-
1,366
-
4,392
678
17,647
13,428
31,753
6,373
(20,988)
11,407
(9,581)
248,484
238,903		 2021
Total
funds
£
5,377
80,527
20,561
82,555
246
189,266
5,230
255,528
13,428
274,186
96,603
11,683
-
11,683
2,168,673
2,180,356		 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

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 2021

Notes
FIXED ASSETS
Tangible assets
11
Investments
12
CURRENT ASSETS
Debtors
13
Cash at bank
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
15
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
1,084,808
861,802
1,946,610
8,471
9,438
17,909
(23,066)
(5,157)
1,941,453
1,941,453		 Restricted
funds
£
109,322
129,581
238,903
-
-
-
-
-
238,903
238,903		 2021
Total
funds
£
1,194,130
991,383
2,185,513
8,471
9,438
17,909
(23,066)
(5,157)
2,180,356
2,180,356
1,941,453
238,903
2,180,356		 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

The financial statements were approved by the Board of Trustees and authorised for issue on 15 July 2022 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 2021

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.

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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 2021

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		 2021
£
20,561
2021
£
16,079
41,265
12,307
1,152
11,749
3
82,555		 2020
£
17,371
2020
£
12,661
41,850
11,960
602
11,638
24
78,735

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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 2021

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4. RAISING FUNDS
Investment management costs
2021 2020
£ £
Portfolio management 5,230 4,697
5. CHARITABLE ACTIVITIES COSTS
Direct Support
Costs (see costs (see
note 6) note 7) Totals
£ £ £
Expenditure on Almshouses and
other property 230,766 24,762 255,528
-
Chapel expenditure 13,428 13,428
244,194 24,762 268,956
6. DIRECT COSTS OF CHARITABLE ACTIVITIES
2021 2020
£ £
Staff costs 25,848 26,400
Fuel (oil and wood pellet) 19,714 20,540
Electricity 10,319 10,055
Water 1,777 1,489
Council tax 2,743 2,464
Insurance 5,226 4,999
Chapel expenditure 2,247 1,465
Repairs and maintenance - Chapel 493 421
Repairs and maintenance - Grounds 12,961 19,636
Repairs and maintenance - Boilers and water 4,982 6,258
Repairs and maintenance - Allnutt House 7,738 4,938
Repairs and maintenance - Almshouses 80,859 20,641
Repairs and maintenance - Small capital items 1,181 269
Repairs and maintenance - Woodland Cottage 947 6,679
Repairs and maintenance - School House 497 20,025
Repairs and maintenance- Old School Cottage 8,517 3,334
Agent letting fees 6,680 501
Welfare grants and donations 1,020 1,748
Depreciation 50,445 63,631
244,194 215,493
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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 2021

7. SUPPORT COSTS

Governance
Management
costs
£
£
Expenditure on Almshouses and other
property
20,252
4,510
Support costs, included in the above, are as follows:
Management
2021
Expenditure
on
Almshouses
and other
property
£
Wages
9,036
Pensions
667
Telephone, postage, stationery & website
2,569
Sundries
348
Professional fees
6,755
Travelling expenses
186
Social
691
20,252
Governance costs
2021
Expenditure
on
Almshouses
and other
property
£
Auditors' remuneration
4,510		 Totals
£
24,762
2020
Total
activities
£
8,850
744
2,111
378
8,083
174
4
20,344
2020
Total
activities
£
3,960

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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 2021

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.

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
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
6,436
Charitable activities
Income from residents
78,990
Other trading activities
17,371
Investment income
77,574
Other income
248
Total
180,619
EXPENDITURE ON
Raising funds
4,103		 2021
£
34,884
667
35,551
2021
2
1
3
Restricted
funds
£
2,438
-
-
1,161
-
3,599
594		 2020
£
35,250
744
35,994
2020
2
1
3
Total
funds
£
8,874
78,990
17,371
78,735
248
184,218
4,697

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

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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 2021

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10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
funds funds funds
£ £ £
Charitable activities
Expenditure on Almshouses and other
property 209,814 17,647 227,461
-
Chapel expenditure 12,336 12,336
Total 213,917 30,577 244,494
Net gains on investments 22,205 13,260 35,465
NET INCOME/(EXPENDITURE) (11,093) (13,718) (24,811)
Transfers between funds (10,904) 10,904 -
Net movement in funds (21,997) (2,814) (24,811)
RECONCILIATION OF FUNDS
Total funds brought forward 1,942,186 251,298 2,193,484
TOTAL FUNDS CARRIED FORWARD 1,920,189 248,484 2,168,673
11. TANGIBLE FIXED ASSETS
Chapel
and
Almshouses
Other furniture
Conversion authorised and
Properties costs improvements equipment Totals
£ £ £ £ £
COST
At 1 January 2021 and
31 December 2021 730,295 192,897 1,059,144 34,837 2,017,173
DEPRECIATION
At 1 January 2021 152,893 40,509 544,359 34,837 772,598
-
Charge for year 7,303 1,929 41,213 50,445
At 31 December 2021 160,196 42,438 585,572 34,837 823,043
NET BOOK VALUE
At 31 December 2021 570,099 150,459 473,572 - 1,194,130
At 31 December 2020 577,402 152,388 514,785 - 1,244,575
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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 2021

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|||| |---|---|---| |12.|FIXED ASSET INVESTMENTS| |2021|2020| |£|£| |Shares|899,774|822,728| |Broker cash|91,609|99,737| |991,383|922,465| |Additional information as follows:| |Listed| |investments| |£| |MARKET VALUE| |At 1 January 2021|822,728| |Additions|313,126| |Disposals|(332,683)| |Revaluations|74,961| |Realised gains/(losses)|21,642| |At 31 December 2021|899,774| |NET BOOK VALUE| |At 31 December 2021|899,774| |At 31 December 2020|822,728|

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Included within listed investments were investment assets outside the UK of £430,653 (2020: £414,009).

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

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||||| |---|---|---|---| |Proportion of| |Market|total listed| |Investec Wealth & Investment Ltd|Holding|values£|value %| |Ishares Vii Plc Core S&P 500 Ucits Etf USD|164|59,257|6.6| |Cost or valuation at 31 December 2021 is represented by:| |Listed| |investments| |£| |Valuation in 2021|899,774|

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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 2021

12. FIXED ASSET INVESTMENTS - continued

Investments (neither listed nor unlisted) were as follows:

Broker cash
13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Dividend accrued income
Prepayments and accrued income
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Deferred income
Accrued expenses
15.
MOVEMENT IN FUNDS
Net
movement
At 1.1.21
in funds
£
£
Unrestricted funds
Permanent Endowment Fund
1,333,718
17,191
General Investment Fund
362,827
23,998
Almshouse Extraordinary Repair Fund
143,410
12,016
Cyclical Maintenance Fund
79,688
10,058
Working Fund
546
(30,592)
1,920,189
32,671
Restricted funds
Loan Repayment Fund
121,515
7,060
Chapel Fund
-
(10,401)
Almshouse Restoration Fund
126,969
(17,647)
248,484
(20,988)
TOTAL FUNDS
2,168,673
11,683		 2021
£
91,609
2021
£
1,728
6,743
8,471
2021
£
9,300
13,766
23,066
Transfers
between
funds
£
-
(6,562)
(1,723)
(26,284)
23,162
(11,407)
1,006
10,401
-
11,407
-		 2020
£
99,737
2020
£
1,087
2,566
3,653
2020
£
550
8,139
8,689
At
31.12.21
£
1,350,909
380,263
153,703
63,462
(6,884)
1,941,453
129,581
-
109,322
238,903
2,180,356

Page 18

continued...

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

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

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
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		 Incoming
resources
£
-
6,926
2,143
1,314
174,491
184,874
1,365
3,027
-
4,392
189,266
At 1.1.20
£
1,336,078
365,786
142,209
94,824
3,289
1,942,186
106,682
-
144,616
251,298
2,193,484		 Resources
expended
£
(13,073)
(23,037)
(815)
(425)
(205,083)
(242,433)
(678)
(13,428)
(17,647)
(31,753)
(274,186)
Net
movement
in funds
£
(2,360)
(14,527)
7,935
(8,454)
6,313
(11,093)
13,827
(9,898)
(17,647)
(13,718)
(24,811)		 Gains and
losses
£
30,264
40,109
10,688
9,169
-
90,230
6,373
-
-
6,373
96,603
Transfers
between
funds
£
-
11,568
(6,734)
(6,682)
(9,056)
(10,904)
1,006
9,898
-
10,904
-		 Movement
in funds
£
17,191
23,998
12,016
10,058
(30,592)
32,671
7,060
(10,401)
(17,647)
(20,988)
11,683
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

Page 19

continued...

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

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

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
£
-
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)

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

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

Page 20

continued...

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

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

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 2021 or 2020.

17. CAPITAL COMMITMENTS

There were no commitments as at 31st December 2021 or 2020.

18. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2021.

19. IMPACT OF COVID-19

The pandemic has had little impact on investments. The charity has been able to function as normal during the pandemic.

Page 21