Registered Charity No : 213007 Registered Company No : 119509
THE GIVEN-WILSON INSTITUTE
(A company limited by guarantee)
ANNUAL REPORT AND FINANCIAL STATEMENTS
YEAR ENDED 31[ST] DECEMBER 2021
THE GIVEN-WILSON INSTITUTE
| Contents | Page |
|---|---|
| Legal and Administrative Information | 1 |
| Report of the Management Committee | 2 - 4 |
| Independent Examiner’s Report | 5 * |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes forming part of the Financial Statements | 8 - 14 |
| Summary of Income and Expenditure Accounts | 15 * |
- These pages do not form part of the statutory financial statements.
1
THE GIVEN-WILSON INSTITUTE
LEGAL AND ADMINISTRATIVE INFORMATION
| Management Committee Members | A J Helliar |
|---|---|
| (Trustees) | R Walmsley |
| Ms R Rodger | |
| Ms J Ward | |
| Secretary | Ms R Rodger |
| Registered/Principal Office | Church Lodge |
| St Mary’s Road | |
| Plaistow | |
| London | |
| E13 9AE | |
| Registered Office | 44/54 Orsett Road |
| Grays | |
| Essex | |
| RM17 5ED | |
| Company Registration Number | 119509 (England and Wales) |
| Charity Registration Number | 213007 |
| Accountants | Rowland Hall |
| Chartered Certified Accountants | |
| 44/54 Orsett Road | |
| Grays | |
| Essex | |
| RM17 5ED | |
| Bankers | Barclays Bank Plc |
| 29 Station Road | |
| Upminster | |
| Essex | |
| RM14 2ST | |
| Investment Managers | J M Finn & Co |
| 4 Coleman Street | |
| London | |
| EC2R 5TA | |
| Solicitors | J H E Franklin |
| 16 Highdown Road | |
| Roehampton | |
| London | |
| SW15 5BU |
2
THE GIVEN-WILSON INSTITUTE
REPORT OF THE MANAGEMENT COMMITTEE YEAR ENDED 31[ST] DECEMBER 2021
The Committee present their statutory report with the accounts of The Given-Wilson Institute for the year ended 31[st] December 2021.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and 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 published on 16 July 2014 (as amended by Update Bulletin 1 published on 2 February 2016).
OBJECTS AND ACTIVITIES
To provide a central institute with the object of improving the conditions of life of and providing or assisting in the provision of facilities for recreation and other leisure time occupation for the inhabitants of Plaistow.
The relief of poverty in general and in particular to assist persons who by reason of old age, infirmity, domestic distress or other disability are in need without limitation thereof to provide holidays for such persons who are unable to afford the cost.
To provide a place of meeting for any clubs or societies (other than political) in Plaistow.
The continual maintenance and development of the property known as The Church Lodge owned by the Institute.
PROGRESS DURING THE YEAR
The impact of the COVID 19 pandemic has continued to restrict the ability of the charity to actively accrue additional funds and deliver some of the charitable benefits to the local community. This is particularly evident for those aspects of the charity’s delivery that were compromised by social distancing measures, as the charity’s hall hire facilities have had to remain closed for some parts of the year and, in particular, periods of lockdown in early 2021.
The trustees and charity volunteers have however remained active during the period and have utilised the periods of reduced hiring activity to continue a programme of repairs and renovations to the charity’s freehold properties, which had commenced in the previous year. The properties date from the 18[th] Century and therefore require periodic renovation as demonstrated by the costs incurred during the year and the previous period.
Young people’s activities have continued where possible during the year. Use of the hall has been partly sustained during the year and has been used by local religious groups and sports clubs where possible within COVID safe guidelines.
From time to time the Institute provides financial support for St Mary’s Church, Plaistow. However, the church is not well supported and the number of elderly people using the Institute’s facilities is also declining. The Institute continues to support the local community but has been unable to provide an annual Christmas party and outings for the local elderly residents due to COVID restrictions. It is hoped that this provision will re-commence in 2022.
PUBLIC BENEFIT
The charity was founded to give financial support and to supply facilities to help with the poor of Plaistow which is done through helping with days out and helping with the costs of a holiday each year. Financial support is given to the local primary school which, because of its location, provides schooling to children with a very mixed racial background. It also provides facilities, at no charge, to Rainbows, Brownies, Guides, Cubs, Scouts and Rangers. Financial support is also given to them. A religious group use the facilities on Sunday and pay a notional fee to cover the overheads. The trustees have given regard to the Charity Commission’s guidance to public benefit.
FINANCIAL REPORT FOR THE YEAR
A summary of the results for the year is given on page 6 of the accounts. The Committee considers the state of affairs to be satisfactory.
3
THE GIVEN-WILSON INSTITUTE
REPORT OF THE MANAGEMENT COMMITTEE YEAR ENDED 31[ST] DECEMBER 2021
THE CHARITY’S ASSETS
Any acquisitions and disposals of fixed assets during the year are recorded in the notes to the accounts.
INVESTMENTS
The charity has a portfolio of investments with a market value at 31[st] December 2021 of £864,690 (2020 - £772,605). During the year the charity used investment managers J M Finn & Co, 4 Coleman Street, London EC2R 5TA, who operate within specific guidelines that are set out and regularly reviewed by the trustees. The investment objectives are to maximise total return through a diversified portfolio whilst providing the required level of income advised by the trustees from time to time within acceptable levels of risk.
RESERVES POLICY
Reserves at the year-end totalled £992,498 (2020 - £881,588).
On an ongoing basis and excluding restricted funds, the trustees aim to raise sufficient income to cover the resources expended. Voluntary income is never adequate to cover annual running costs and therefore the trustees maintain an investment portfolio to generate investment income to make up the shortfall. A designated investment fund has been set aside to represent this portfolio. A fixed asset fund has also been designated to represent the extent to which funds have been invested in fixed assets.
It is the trustees’ intention to maintain general funds representing at least two years’ expenditure.
RISK REVIEW
The Management Committee has conducted its own review of the major risks to which the charity is exposed and has established systems to mitigate those risks. Internal risks have been minimised by the agreement and implementation of financial controls covering the authorisation of all payments and commitments made by the charity. These procedures are reviewed annually to ensure that they continue to meet the needs of the charity and to consider whether any additional risks have become apparent.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The company was incorporated under number 119509 and is a registered charity by number 213007. The charity’s principal and registered office is Church Lodge, St Mary’s Road, Plaistow, London E13 9AE.
The financial control is in the hands of the trustees all of whom take their responsibilities very seriously, and the daily running of events is largely in the hands of a team of volunteer workers. The trustees held two trustees’ meetings during the year and the individual trustees frequently visited the Institute premises and met the various groups who use the hall.
New trustees will normally be known personally by existing trustees and must be of a suitable character with a business background. New trustees will be introduced to the work of the charity before acceptance of the position and will be instructed on the moral and legal duties of being a trustee.
THE MANAGEMENT COMMITTEE
The Management Committee members constitute directors of the charity for the purposes of the Companies Act 2006 and trustees of the charity for the purposes of charity legislation.
A third of the Management Committee members must retire at the Annual General Meeting but may be reappointed.
The following members were in office at 31[st] December 2021 and served throughout the year:
MANAGEMENT COMMITTEE MEMBERS
A J Helliar (Chairman) R Walmsley (Treasurer) Ms R Rodger (Secretary) Ms J Ward
No Management Committee member received any remuneration or expenses for services as a member of the Management Committee (2020 - £Nil). No Management Committee member had any beneficial interest in any contract with the charity during the year.
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THE GIVEN-WILSON INSTITUTE
REPORT OF THE MANAGEMENT COMMITTEE YEAR ENDED 31[ST] DECEMBER 2021
SOLICITORS
The charity’s solicitors are J H E Franklin of 16 Highdown Road, Roehampton, London SW15 5BU.
BANKERS
The charity banks with Barclays Bank Plc, 29 Station Road, Upminster, Essex RM14 2ST.
ACCOUNTANTS
The accountants are Rowland Hall, Chartered Certified Accountants, 44/54 Orsett Road, Grays, Essex RM17 5ED.
The company has taken advantage of the small companies’ exemption in preparing the report above.
Signed on behalf of the Management Committee
Mr R Walmsley
Approved by the board on 7[th] March 2022
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THE GIVEN-WILSON INSTITUTE
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE GIVEN-WILSON INSTITUTE
I report to the charity trustees on my examination of the accounts of the company for the year ended 31[st] December 2021 which are set out on pages 6 to 15.
RESPONSIBILITIES AND BASIS OF REPORT
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
INDEPENDENT EXAMINER’S STATEMENT
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
Accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
The accounts do not accord with those records; or
-
The accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
-
The accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Dean Flood (FCCA), Independent Examiner Rowland Hall 44/54 Orsett Road Grays Essex RM17 5ED
9[th] March 2022
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THE GIVEN-WILSON INSTITUTE
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31[ST] DECEMBER 2021
| Notes INCOME AND ENDOWMENTS Incoming from donations and legacies Charitable activities: Holiday fund contribution Other trading activities: Rent of lodge Hall hire 2 Investments 3 TOTAL INCOME AND ENDOWMENTS EXPENDITURE Expenditure on raising funds: Investment management costs Expenditure on charitable activities 4 TOTAL EXPENDITURE Net (expenditure)/income before investment gains/(losses) Net gains/(losses) on investments NET INCOME Transfers between funds 16 NET MOVEMENT IN FUNDS FOR THE YEAR RECONCILIATION OF FUNDS Total funds brought forward Total funds carried forward |
Unrestricted Designated Fund £ - - - - - ———— - ———— - - ———— - ———— - 97,598 ———— 97,598 (7,799) ———— 89,799 814,117 ———— 903,916 ════ |
Unrestricted | Unrestricted | Unrestricted | Total Unrestricted Funds 2021 £ - - 18,484 11,013 19,332 ———— 48,829 ———— 6,119 29,398 ———— 35,517 ———— 13,312 97,598 ———— 110,910 - ———— 110,910 881,588 ———— 992,498 ════ |
Total Unrestricted |
Total Unrestricted |
Total |
|---|---|---|---|---|---|---|---|---|
| — — — — — — — ═ |
General | Funds 2020 £ - - 16,295 5,610 16,816 ———— 38,721 ———— 5,812 37,190 ———— 43,002 ———— (4,281) 11,977 ———— 7,696 - ———— 7,696 873,892 ———— 881,588 ════ |
Funds | |||||
| Fund £ - - 18,484 11,013 19,332 ——— 48,829 ——— 6,119 29,398 ——— 35,517 ——— 13,312 - ——— 13,312 7,799 ——— 21,111 67,471 ——— 88,582 ═══ |
Fund | 2020 |
The Statement of Financial Activities includes gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
7
THE GIVEN-WILSON INSTITUTE
BALANCE SHEET
AS AT 31[ST] DECEMBER 2021
| FIXED ASSETS Tangible Assets Investments CURRENT ASSETS Debtors Cash at Bank and in Hand CREDITORS– amounts falling due within one year Accruals NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES REPRESENTED BY – FUNDS AND RESERVES Unrestricted Funds Designated Funds Fixed Asset Fund Investment Fund General Fund |
Notes £ 11 12 13 224 14 91,357 ———— 91,581 15 2,999 ———— 16 |
2021 £ £ 39,226 864,690 ———— 903,916 268 70,102 ———— 70,370 2,899 ———— 88,582 ———— 992,498 ════ 39,226 864,690 ———— 903,916 88,582 ———— 992,498 ════ |
2020 £ 41,512 772,605 ———— 814,117 67,471 ———— 881,588 ════ 41,512 772,605 ———— 814,117 67,471 ———— 881,588 ════ |
|---|---|---|---|
For the year ending 31[st] December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors’ responsibilities:
-
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to the small companies’ regime and in accordance with FRS 102 SORP.
Approved and authorised for issue by the Committee of Management on 7[th] March 2022 and signed on its behalf by
Mr R Walmsley
Registered Company No : 119509
8
THE GIVEN-WILSON INSTITUTE
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2021
1. ACCOUNTING POLICIES
- a. Basis of Accounting
The Given-Wilson Institute is a charitable company limited by guarantee in the United Kingdom. The charity’s registered office is disclosed on page 1 of the financial statements.
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these financial statements. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16[th] July 2014 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and with the Charities Act 2011.
The financial statements are prepared in Sterling which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
The charity constitutes a public benefit entity as defined by FRS 102.
The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern. There are no significant areas of adjustment and key assumptions that affect items in the financial statements.
- b. Income
Dividends and interest, including taxation deducted at source thereon, are credited to the statement of financial activities in the year to which they relate. All other income is credited when it is received.
-
c. Resources
-
Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.
-
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of maintaining the premises for fundraising purpose. They also include costs incurred in the management of the charity’s portfolio of investments.
-
Charitable Activities expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
-
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include independent examination fees and costs linked to the strategic management of the charity.
-
All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g. per capita or estimated usage as set out in Note 5.
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THE GIVEN-WILSON INSTITUTE
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2021
1. ACCOUNTING POLICIES (continued)
- d. Tangible Fixed Assets
Significant fixed assets are capitalised and stated at cost.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Freehold Buildings 2% on cost Land No depreciation has been provided Furniture 10% on written down value
- e. Investments
Investments are included on the Balance Sheet at fair value (their market value) at the end of the financial period. Gains and losses are credited, or debited, to the statement of financial activities in the year in which they arise.
f. Fund Accounting
The general fund comprises those monies which may be used towards meeting the charitable objectives of the Institute at the discretion of the Management Committee.
The designated funds are those funds earmarked by the Management Committee for specific purposes although the Management Committee may ultimately use such funds for other purposes.
Both the general fund and designated funds are unrestricted.
There are no restricted funds in either the current or previous year.
g. Cash Flow
The charitable company qualifies as a small company and advantage has been taken of the exemption provided by the SORP (FRS102) as amended by Bulletin 1 not to prepare a cash flow statement.
h. Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
i. Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
2.
| HALL HIRE | 2021 | 2020 |
|---|---|---|
| £ | £ | |
| Plaistow Church of Christ | 1,625 | 3,120 |
| Parking Spaces | 6,150 | - |
| Karate Club | 3,238 | 2,490 |
| ——— | ——— | |
| 11,013 | 5,610 | |
| ═══ | ═══ |
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THE GIVEN-WILSON INSTITUTE
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] DECEMBER 2021
| 3. | INVESTMENT INCOME | 2021 | 2020 |
|---|---|---|---|
| £ | £ | ||
| Equities | 19,332 | 16,816 | |
| Interest on other Securities | - | - | |
| ——— | ——— | ||
| 19,332 | 16,816 | ||
| Bank Interest | - | ||
| ——— | ——— | ||
| 19,332 | 16,816 | ||
| ═══ | ═══ |
| 4. EXPENDITURE ON CHARITABLE ACTIVITIES Donations and Grants Paid Holidays and Outings Christmas Club Depreciation and (Profit)/Loss on Disposal Governance Costs Supports Costs |
Notes 2021 2020 £ £ 6 10,000 1,500 7 - - - - 2,286 2,333 5 2,316 2,268 5 14,796 31,089 ——— ——— 29,398 37,190 ═══ ═══ |
2020 |
|---|---|---|
5. ANALYSIS OF GOVERNANCE AND SUPPORT COSTS
The charity initially identifies the cost of its support functions. It then identifies those costs which relate to the governance function. Refer to the table below for the basis of apportionment and the analysis of support and governance costs.
| Salaries Light, Heat and Rates Buildings Insurance Repairs and Maintenance Accountancy Fees Sundry Expenses |
General Governance Support Function Total £ £ £ 5,400 - 5,400 1,393 - 1,393 1,940 - 1,940 5,961 - 5,961 - 2,316 2,316 102 - 102 ——— ——— ——— 14,796 2,316 17,112 ═══ ═══ ═══ |
Basis of Apportionment Staff Time Usage Usage Usage Governance Usage |
|---|---|---|
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THE GIVEN-WILSON INSTITUTE
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] DECEMBER 2021
| 6. | DONATIONS AND GRANTS PAID | 2021 | 2020 |
|---|---|---|---|
| £ | £ | ||
| Guides, Scouts and Brownies | - | 1,500 | |
| Macular Society | 5,000 | - | |
| National Deaf Children’s Fund | 5,000 | - | |
| ——— | ——— | ||
| 10,000 | 1,500 | ||
| ═══ | ═══ | ||
| 7. | HOLIDAYS AND OUTINGS | 2021 | 2020 |
| £ | £ | ||
| Holidays | - | - | |
| ——— | ——— | ||
| - | - | ||
| ═══ | ═══ | ||
| 8. | NET INCOMING RESOURCES FOR THE YEAR | 2021 | 2020 |
| £ | £ | ||
| This is stated after charging: | |||
| Depreciation | 2,286 | 2,333 | |
| Accountants Remuneration | 2,316 | 2,268 | |
| ═══ | ═══ | ||
| 9. | STAFF COSTS AND NUMBERS | 2021 | 2020 |
| £ | £ | ||
| Staff costs during the year were as follows: | |||
| Wages and Salaries | 5,400 | 2,450 | |
| ═══ | ═══ | ||
| 2021 | 2020 | ||
| Number | Number | ||
| The average number of part-time employees, analysed by function was: | |||
| Support | 3 | 3 | |
| ═ | ═ |
No employee received emoluments of more than £60,000.
No member of the Management Committee received any remuneration or expenses in respect of their services as a member of the Management Committee during the year (2020 - £Nil).
10. TAXATION
The Given-Wilson Institute is a registered charity and therefore is not liable to corporation tax on income derived from its charitable activities as it falls within the various exemptions available to registered charities. Although bank interest is received gross by the company, its dividend income is subject to tax credits deducted at source and such income tax can no longer be recovered by the company. As such, the tax suffered is treated in the statement of financial activities as a cost of generating funds.
12
THE GIVEN-WILSON INSTITUTE
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2021
| 11.TANGIBLE FIXED ASSETS COST At 1stJanuary 2021 Additions At 31stDecember 2021 DEPRECIATION At 1stJanuary 2021 Charge for year At 31stDecember 2021 NET BOOK VALUES At 31stDecember 2021 At 31st December 2020 |
Freehold Furniture Land and and Buildings Fittings Total £ £ £ 108,099 26,242 134,341 - - - ———— ———— ———— 108,099 26,242 134,341 ———— ———— ———— 70,829 22,000 92,829 1,862 424 2,286 ———— ———— ———— 72,691 22,424 95,115 ———— ———— ———— 35,408 3,818 39,226 ════ ════ ════ 37,270 4,242 41,512 ════ ════ ════ |
|---|---|
All the assets were used for charitable purposes. Any use for management and administrative purposes is insignificant and has been ignored.
The freehold land and buildings were last valued by an independent professional valuer, McDowalls Surveyors Limited, in March 2018. At that time they valued the property at £1,045,000, on an open market value in current use basis.
12. INVESTMENTS
| INVESTMENTS | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Market Value at 1stJanuary 2021 | 769,353 | 763,192 |
| Additions | 72,017 | 71,989 |
| Disposals at Book Value (Proceeds £78,547, Gain £3,721) | (74,826) | (98,233) |
| Net Investment Gains | 93,877 | 32,405 |
| ———— | ———— | |
| Market Value at 31stDecember 2021 | 860,421 | 769,353 |
| Cash held by Investment Managers for Re-investment | 4,269 | 3,252 |
| ———— | ———— | |
| 864,690 | 772,605 | |
| ════ | ════ | |
| Listed investments held at 31stDecember 2021 comprised the following: | ||
| Equities | 824,056 | 701,482 |
| Global Fixed Interest | 36,365 | 67,871 |
| ———— | ———— | |
| 860,421 | 769,353 | |
| ════ | ════ |
All investments were held within the United Kingdom.
13
THE GIVEN-WILSON INSTITUTE
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2021
On Excel – do not type
14
THE GIVEN-WILSON INSTITUTE
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] DECEMBER 2021
13. DEBTORS
| 13.DEBTORS Accrued Income 14.CASH AT BANK Barclays Bank Plc Current Account Business Tracker Account Christmas Club Accounts Cash in Hand 15.CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals 16.DESIGNATED FUNDS Realised Unrealised At Profit on Profit on 1/1/21 Disposals Revaluation £ £ £ Investment Fund 772,605 3,721 93,877 Fixed Asset Fund 41,512 - - ———— ———— ———— 814,117 3,721 93,877 ════ ════ ════ |
2021 £ 224 ════ 2021 £ 91,295 37 - ———— 91,332 25 ———— 91,357 ════ 2021 £ 2,999 ════ Transfers £ (5,513) (2,286) ———— (7,799) ════ |
2020 £ 268 ════ 2020 £ 70,040 37 - ———— 70,077 25 ———— 70,102 ════ 2020 £ 2,899 ════ At 31/12/21 £ 864,690 39,226 ———— 903,916 ════ |
|---|---|---|
Investment Fund
This fund is maintained at a level that represents stocks, shares and monies required to generate income during the year.
Fixed Asset Fund
This represents the net book value of tangible fixed assets.
17. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| General | Designated | Restricted | Total | |
|---|---|---|---|---|
| Funds | Funds | Funds | 2021 | |
| £ | £ | £ | £ | |
| Tangible Assets | - | 39,226 | - | 39,226 |
| Investments | - | 864,690 | - | 864,690 |
| Current Assets | 91,581 | - | - | 91,581 |
| Creditors: amounts falling due within one year | (2,999) | - | - | (2,999) |
| ———— | ———— | ———— | ———— | |
| 88,582 | 903,916 | - | 992,498 | |
| ════ | ════ | ════ | ════ |
18. GUARANTEES
The Institute is a company limited by guarantee and therefore does not have a share capital. In the event of it being wound up, the maximum liability of each member is £1.
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THE GIVEN-WILSON INSTITUTE
SUMMARY OF INCOME AND EXPENDITURE ACCOUNTS
FOR THE SEVEN YEARS ENDED 31[ST] DECEMBER 2021
| 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | £ | £ | |
| INCOME | |||||||
| Voluntary Income | |||||||
| Donations | - | - | - | - | - | - | - |
| Hall Hire | 11,013 | 5,610 | 4,496 | 6,445 | 6,000 | 4,140 | 3,643 |
| Rent from Lodge | 18,484 | 16,295 | 22,019 | 17,670 | 17,482 | 14,229 | 13,875 |
| Holiday Fund | - | - | - | 3,200 | - | 3,226 | 5,490 |
| ——— | ——— | ——— | ——— | ——— | ——— | ——— | |
| 29,497 | 21,905 | 26,515 | 27,315 | 23,482 | 21,595 | 23,008 | |
| Investment Income | |||||||
| Dividends | 19,332 | 16,816 | 21,515 | 21,520 | 22,570 | 20,285 | 19,622 |
| Interest | - | - | 9 | 29 | - | - | 2 |
| ——— | ——— | ——— | ——— | ——— | ——— | ——— | |
| Total Income | 48,829 | 38,721 | 48,039 | 48,864 | 46,052 | 41,880 | 42,632 |
| ——— | ——— | ——— | ——— | ——— | ——— | ——— | |
| EXPENDITURE | |||||||
| Salaries and Wages | 5,400 | 2,450 | 4,740 | 3,660 | 4,280 | 4,420 | 4,830 |
| Telephone | - | - | - | - | - | 56 | 393 |
| Accountancy | 2,316 | 2,268 | 2,256 | 2,220 | 2,190 | 2,148 | 2,164 |
| General Expenses | 102 | 102 | 494 | 390 | 194 | 1,320 | 422 |
| Insurance | 1,940 | 1,987 | 1,895 | 2,216 | 1,935 | 1,893 | 1,910 |
| Lighting, Heating and Rates | 1,393 | 1,767 | 2,213 | 2,349 | 2,551 | 3,722 | 4,392 |
| Repairs and Maintenance | 5,961 | 24,783 | 2,095 | 4,726 | 5,205 | 9,614 | 13,673 |
| Depreciation | 2,286 | 2,333 | 2,386 | 2,444 | 2,508 | 2,067 | 2,068 |
| Legal and Professional | - | - | - | 840 | - | - | 798 |
| Stockbroker Fees | 6,119 | 5,812 | 5,667 | 4,674 | 4,079 | 7,364 | 5,075 |
| Holidays and Outings | - | - | 500 | 6,307 | 3,384 | 5,358 | 8,919 |
| Other Grants and Donations | 10,000 | 1,500 | 1,558 | 2,700 | 1,500 | 1,500 | 1,550 |
| Christmas Club | - | - | 600 | 830 | - | 360 | 300 |
| Income Tax deducted at Source | - | - | - | - | - | - | - |
| ——— | ——— | ——— | ——— | ——— | ——— | ——— | |
| Total Expenditure | 35,517 | 43,002 | 24,404 | 33,356 | 27,826 | 39,822 | 46,494 |
| ——— | ——— | ——— | ——— | ——— | ——— | ——— | |
| Surplus/(Deficit)on Ordinary | |||||||
| Activities for the year | 13,312 | (4,281) | 23,635 | 15,508 | 18,226 | 2,058 | (3,862) |
| Surplus/(Deficit)on Market Value | |||||||
| Of Investments | 97,598 | 11,977 | 103,412 | (61,392) | 49,950 | 52,012 | (9,825) |
| ——— | ——— | ——— | ——— | ——— | ——— | ——— | |
| Final Surplus/(Deficit) | |||||||
| For the Year | 110,910 | 7,696 | 127,047 | (45,884) | 68,176 | 54,070 | (13,687) |
| ═══ | ═══ | ═══ | ═══ | ═══ | ═══ | ═══ | |
| NET ASSETS/ | |||||||
| TOTAL FUNDS | 992,498 | 881,588 | 873,892 | 746,845 | 792,729 | 724,553 | 670,483 |
| ═══ | ═══ | ═══ | ═══ | ═══ | ═══ | ═══ |
This page does not form part of the statutory financial statements.