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## 

|Trustees:|Ex-Officio|The Revd. Christopher<br>John|Atkinson||||
|---|---|---|---|---|---|---|
||Life Trustee|Mrs Joyce Edith Burrows|||||
||~Co-o tive|Mr Geoffrey Richard Greatwood|||||
|||Mr Trevor Hollinshead|||||
|||Mr Robert Hood Brown (resigned 30.01.20)|||||
|||Dr Carl Richard Pears|||||
|||Mr Ivan John Stephen Fuller|||||
|||Mr John Alfred Kirkman|||||
|||Mr David Stanley Mapp|||(Chair)||
|||Mr Nicolas James Legge|||||
|||Mrs Anna Patricia Rogers|||||
|||Mr Charles Falconer McLean (appointed|||27.02.20)||
|||Mrs Fiona Louise Pembery|(appointed|30.01.20)|||
||Nominative|(Nominated<br>by Bourne Town Council)|||||
|||Mr Philip James Knowles|||(Vice Chair)||
|||Mr Robert Gideon Thomson|Russell||||
|||Mrs Anna Sylvia Kelly (appointed 30.01,20)|||||
|Clerk to Trustees:||Mrs G SClingo|||||
|Bankers:||National<br>Westminster<br>Bank|Plc||||
|||Market Place, Spalding,<br>Lincolnshire,||PE11 1ST|||
|Investment|Advisors:|Whiting &Partners<br>Wealth|Management||Ltd||
|||12/13 The Crescent, Wisbech, Cambridgeshire,||||PE13 1EH|
|||Ruffer LLP|||||
|||80Victoria Street, London,|SWIE5JL||||
|Solicitor:||Greenwoods<br>LLP|||||
|||Monkstone<br>House, City Road, Peterborough,||||PE1 1JE|
|||Roythornes|||||
|||Enterprise<br>Way, Spalding,<br>Lincolnshire,|||PE113YR||
|Auditors:||Dexter &Sharpe Audit Services Ltd|||||
|||(Statutory Auditor)|||||
|||Rollestone House|||||
|||Bridge Street|||||
|||Horne astle|||||
|||Lincolnshire|||||
|||LN9 5HZ|||||





## 

## 

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## 

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## 




## 

## 

## 

## 

## 



## 

## 

|||Permanent|||||
|---|---|---|---|---|---|---|
|||Endowment|Designated|Unrestricted|2020|2019|
||Note|Fund|Funds|Fund|Total|Total|
|INCOME AND ENDOWMENTS|||||||
|Investment<br>Income|2)|||963,269|963,269|1,033,500|
|Other Income and Grants||||22,494|22,494|9,923|
|Total Incoming Resources||||985,763|985,763|1,043,423|
|EXPENDITURE|||||||
|Charitable<br>Activities|3)|||577,510|577,510|513,154|
|Other Costs|4)|||1209875|120,875|(72,567)|
|Total Resources Expended|5)|||698,385|698,385|440,587|
|NET INCOMING RESOURCES|||||||
|FORYEARBEFORETRANSFERS||||287,378|287,378|602,836|
|Transfers between<br>funds|12)|4,331|5,136|(9,467)|||
|NET INCOME BEFORE|||||||
|GAINS/LOSSES ON INVESTMKNTS||4,331|5,136|277,911|287,378|602,836|
|Gains on Fixed Assets and Investments|||||||
|Unrealised<br>fixed assets||1,549,931|||1,549,931||
|Unrealised<br>investments|7)|65,653|7,118|521|73,292|333,156|
|NKT MOVEMENT IN FUNDS||1,619,915|12,254|278,432|1,910,601|935,992|
|Balances brought forward|||||||
|at 1stJanuary 2020||25,864,439|259,713|2,159,957|28,284,109|27,348,117|
|Balances carried forward|||||||
|at 31stDecember 2020||27,484,354|271,967|2&438,389|30,194,710|28,284,109|





## 

|||||2020||2019|
|---|---|---|---|---|---|---|
|||Note|||||
|FIXEDASSETS|||||||
|Tangible Fixed Assets for|Charity Use|6)||2,680,959||2,540,664|
|Investment<br>Properties||6)||22,359,000||20,785,043|
|Listed Investments||7)||3,484,756||3,389,493|
|||||2&,524,715||26,715,200|
|CURRENT ASSETS|||||||
|Debtors||8)|244,122||114,374||
|Short Term Cash Deposits|||72,687||72,496||
|Cash at Bank and in Hand|||1,719,358||1,736,541||
||||2,036,167||1,923,411||
|CREDITORS: Amounts|falling due||||||
|within one year||9)|366,172||354,502||
|NET CURRENT ASSETS||||1,669,995||1,568,909|
|TOTAL NET ASSETS||10)||30,194,710||28,284,109|
|REPRESENTED BYFUNDS|||||||
|Permanent<br>Endowment||||27,484,354||25,864,439|
|Designated||13)||271,967||259,713|
|Unrestricted||||2,438,389||2,159,957|
|||||30,194,710||28,284,109|
|Approved<br>by the Trustees|on 24 June 2021 and signed||on their be||||
|Philip James Knowles —Chairperson|||Nico|es Legge —Vice|Chairperson||





## 

||||||||2020|2019|
|---|---|---|---|---|---|---|---|---|
|||||||Notes|||
|Cash flows from operating|activities:||||||||
|Net cash inflow from (used|in) operating|activities|||||164,016|647,457|
|Cash flows from investing|activities:||||||||
|Purchase oftangible fixed assets|||||||(3,073)|(15,573)|
|Purchase ofinvestments|||||||(195,737)|(206,287)|
|Interest received|||||||17,802|25,493|
|Net cash (used in) investing|activities||||||(181,008)|(196,367)|
|Change in cash and cash equivalents||in the|reporting|period|||(16,992)|451,090|
|Cash and cash equivalents|at the beginning||ofthe reporting||period||1,809,037|1,357,947|
|Cash and cash equivalents|at the end|ofthe|reporting|period|||1,792,045|1,809,037|





## 

## 

|OPERATING ACT|IVIT|IES|||||
|---|---|---|---|---|---|---|
||||||2020|2019|
|Net income (expenditure)||for the reporting||period (as per the|||
|statement offinancial activities)|||||287,378|602,836|
|Adjustments<br>for:|||||||
|Depreciation<br>charges|||||12,518|12,499|
|Interest received|||||(17,802)|(25,493)|
|(Increase) in debtors|||||(129,748)|(36,129)|
|Increase in creditors|||||11,670|93,744|
|Net cash generated|from|operating|activities||164,016|647,457|





## 

## 

## 

## 

## 

## 

## 

## 

## 



## 

## 

|INVESTMENT INCOME||||
|---|---|---|---|
|||2020|2019|
|Interest on deposits||191|410|
|Income from Investment<br>Properties||945,467|1,008,007|
|Income from Listed Investments||17,611|25,083|
|||963,269|1,033,500|
|All investment<br>assets are within|the UK.|||
|CHARITABLE ACTIVITIES||||
|||Unrestricted<br>Funds|Total|
|||and Total 2020|2019|
|Grants to individuals:||||
|Weekly Charitable<br>Payments||24,024|26,872|
|Bourne Educational<br>Foundation|Grant|319910|66,943|
|Other Grants||33,&10|10,815|
|||89,744|104,630|
|Almshouses<br>Running<br>Costs||58,061|48,102|
|Abbey Lawn Upkeep Costs||59,822|50,153|
|Well Head Upkeep Costs||239,790|128,278|
|General Property Running<br>Costs||130,093|181,991|
|||5779510|513,154|
|OTHER COSTS||||
|Salaries and Office Costs||50,403|51,691|
|Fidelity and Liability Insurances||2,407|1,841|
|Legal and Professional<br>Fees||50,509|11,450|
|Audit Fee||5,640|5,640|
|Provision for bad and doubtful|debts|(603)|(155,688)|
|Depreciation||12,519|12,499|
|||120,875|(72,567)|





## 

## 

## 

|TOTAL RESOURC|ES EXPE|NDED|NDED||||||
|---|---|---|---|---|---|---|---|---|
|||Staff||Depreciation||Other|Total|Total|
|||Costs||||Costs|2020|2019|
|Charitable<br>Activities||53,837||||523,673|577,510|513,154|
|Other Costs||31,556|||12,519|76,800|120,875|(72,567)|
|||85,393|||12,519|600,473|6987385|440,587|
|||||||2020||2019|
|StaffCosts|||||||||
|Wages and Salaries|||||80,090||88,505||
|Social Security Costs|||||2,582||3,747||
|Pension Costs|||||2,721||2,779||
|||||||85,393||95,031|
|Other Expenditure|||||||||
|Grants and Allowances|||||89,744||104,630||
|Almshouse<br>Running|Costs (excluding||wages)||5S,061||36,583||
|Upkeep ofSocial Amenities||—do.|-||245,775||125,709||
|Administration<br>Costs||-do.|-||74,996||37„991||
|Liability<br>and Fidelity|Insurance||||2,407||1,841||
|Property Management|and||||||||
|Running<br>Costs||-do.|-||1307093||181,991||
|Provision for bad and|doubtful|debts|||(603)||(155,688)||
|Depreciation|||||12,519||12,499||
|||||||612,992||345,556|
|||||||698,385||440,587|





## 

## 

## 

|TANGIBLE|FIXE|DASSETS||||||||
|---|---|---|---|---|---|---|---|---|---|
||||||Land and Buildings|||||
||||||Investment||Used by|||
||||||Properties||Charity<br>Equipment||Total|
|Cost orValuation||||||||||
|At 1stJanuary|2020||||20,785,043||2,505,260|339,292|23,629,595|
|Additions|||||173,766|||3,073|176,839|
|Disposals||||||||(365)|(365)|
||||||20,958,809||2,505,260|342,000|23,806,069|
|Revaluation<br>in|year||||1,400,191||149,740||1,549,931|
|At 31stDecember 2020|||||22,359,000||2,655,000|342,000|25,356,000|
|Accumulated|Depreciation|||||||||
|At 1stJanuary|2020|||||||303,888|303,888|
|Charge for the|year|||||||12,516|12,516|
|On Disposals||||||||(363)|(363)|
|At 31stDecember 2020||||||||316,041|316,041|
|Net BookValue||||||||||
|At 31stDecember 2020|||||22,359,000||2,655,000|25,959|25,039,959|
|At 31stDecember 2019|||||20,785,043||2,505,260|35,404|23,325,707|
|FIXEDASSETINVESTMENTS -||||LISTEDINVESTMENTS||||||
||||||||2020||2019|
|Market Value|at 1st|January 2020|||||3,389,493||3,026,894|
|Additions|||||||21,971||29,443|
||||||||3,411,464||3„056,337|
|Net Unrealised|Gain|for the Year|||||73,292||333,156|
|Market Value|at 31stDecember 2020||||||3,484,756||3,389,493|
|The historical|costofthe fixed asset investments<br>cannot be determined<br>due to the portfolio having been built|||||||||
|up over many|years,|records for all ofwhich are not available.|||||The portfolio was|valued at 1|January<br>1995|
|when<br>the<br>Charity||commenced|reporting||its<br>financial|activities<br>in accordance||with<br>the|Statement<br>of|
|Recommended|Practice for Charities.|||The historical valuation/cost<br>figure below is||||therefore comprised ofthe||
|valuation ofthe portfolio at 1 January||||1995plus additions||at cost less disposals at valuation/cost|||since.|





## 

## 

||The historical<br>valuation/cost|offixed asset investments|offixed asset investments|offixed asset investments|at the|year end was:|||
|---|---|---|---|---|---|---|---|---|
|||||||2020||2019|
||Balance at 1 January 2020|||||1,432,886||1,403,443|
||Additions<br>at cost during the|year||||21,971||29,443|
||Balance at 31December 2020|||||1,454,857||1,432,886|
||All investment<br>assets are held within the UK.||||||||
||The composition ofthe investment||portfolio is|shown|below:||||
|||||||Permanent|||
|||||||Endowment|Designated|Unrestricted|
|||||Total||Fund|Fund|Fund|
||Value 31December 2020|||3,484,756||3,183,517|271,967|29,272|
||Value at 1 January 2020|||3,389,493||3,113,533|259,713|16,247|
||Value on introduced 01.01.95 plus||||||||
||additions<br>and less disposals|at cost||1,454,857||1,315,733|123,769|15,355|
|8.|DEBTORS||||||||
|||||||2020||2019|
||Trade Debtors —Rent Ledger|||||229,295||96,164|
||Rental Income Accrual|||||408||2,112|
||Other Debtors and Accruals|||||14,419||16,098|
|||||||244,122||114„374|





## 

## 

|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|9.|CREDITORS: Falling||due within||one year|||||
||||||||2020||2019|
||Trade Creditors||||||5,438||227|
||Accruals||||||40,900||15,502|
||Taxation and social|security costs|||||2,247||1,743|
||Bourne Educational|Foundation||Grant|||98,853||99,801|
||Rental Income received||in advance||||147„984||165,084|
||Tenants Deposit Accounts||||||70,750||72,145|
||||||||366,172||354,502|
|10.|ANALYSIS OFNET ASSETSBETWEEN|||||FUNDS||||
|||||||Tangible||Net||
|||||||Fixed||Current||
|||||||Assets|Investments|Assets|Total|
||Permanent<br>Endowment||Fund|||25,014,000|3,183,517|(713,163)|27,484,354|
||Designated<br>Fund||||||271,967||271,967|
||Unrestricted<br>Fund|||||25,959|29,272|2,383,158|2,438,389|
|||||||25,039,959|3,484,756|1,669,955|30,194,710|



## 



## 

## 

|TRANSFER BETWEEN FUNDS||||
|---|---|---|---|
||Permanent|||
||Endowment|Designated|Unrestricted|
||Fund|Fund|Fund|
|Purchase ofShares with Transact/Ruffer|4,331|5,136|(9,467)|
|These transfers represent:||||



## 

|iii)<br>Ex|ceptional<br>repairs or|replacement ofplant and equipment|||
|---|---|---|---|---|
||||2020|2019|
||||Total|Total|
|Net Transfer from Unrestricted||Funds|5,136|6,250|
|Unrealised|Gain on Value ofShares at 31.12.2020||7,118|25,219|
|Net Movement<br>in Funds|||12,254|31,469|
|Balance at|1.1.2020||259,713|228,244|
|Balance at|31.12.2020||271,967|259,713|





## 

## 



## 

## 

|||||2020|||2019|
|---|---|---|---|---|---|---|---|
|INCOME||||||||
|Investment<br>Income:||||||||
|Rental Income:||||||||
|Leyton stone|||819,064|||880,155||
|Bourne and District|||126,403|945,467||127,852|1,008,007|
|Dividend<br>and Interest Income:||||||||
|Transact and RuA'er|Income||17,611|||25,083||
|Interest on Deposits|||191|17,802||410|25,493|
|||||963,269|||1,033,500|
|Red Hall Lettings|||2,000|||9,092||
|Miscellaneous|||20,494|22,494||831|9,923|
|TOTAL INCOME||||985,763|||1,043,423|
|EXPENDITURE||||||||
|CHARITABLE ACTIVITIES||||||||
|Weekly Payments,|Grants 8|||||||
|Allowances<br>(SeeNote 3)|||89,744|||104,630||
|Almshouses:||||||||
|Wages|||||11,519|||
|Repairs and Maintenance||28,710|||16,810|||
|Utilities||12,169|||11,912|||
|Council Tax||206|||538|||
|Insurance||2,048|||1,977|||
|Telephone<br>and Miscellaneous||14,482|||3,453|||
|Garden Maintenance||446|58,061||1,893|48,102||
|Abbey Lawn:||||||||
|Wages||25,833|||26,526|||
|Repairs and Maintenance||15,819|||16,034|||
|Mowing<br>Equipment|Costs|7,676|||3,668|||
|Telephone<br>and Miscellaneous||9,108|||1,919|||
|Utilities||149|||890|||
|Insurance||1,237|||1,116|||
||||59,822|||50,153||
|Carried Forward|||207,627|985,763||202,885|1,043,423|





## 

## 

|||||||2020|||2019|
|---|---|---|---|---|---|---|---|---|---|
|Bought Forward|||||207,627|985,763||202,885|1,043,423|
|CHARITABLE ACTIVITIES||||(cont)||||||
|Well Head 8c, South||Street Properties||||||||
|Wages||||28,004|||26,195|||
|Repairs and|Maintenance|||198,672|||88,232|||
|Insurance||||3,780|||3,575|||
|Mowing<br>Equipment||Costs||2,849|||5,063|||
|Utilities||||2,014|||2,930|||
|Telephone<br>and Miscellaneous||||2,703|||741|||
|Council tax||||1,768|239,790||1„542|128,278||
||||||447,417|||331,163||
|GENERAL|PROPERTY RUNNING COSTS|||||||||
|Bourne Land:||||||||||
|Repairs and Maintenance||||3,095|||1,917|||
|Insurance||||290|||725|||
|Professional|Fees|||3,144|||2,449|||
|Utilities||||354|||465|||
|||||6,883|||5,556|||
|Bourne Residential||Properties:||||||||
|Repairs and|Maintenance|||20,433|||14,260|||
|Insurance||||2,110|||1,797|||
|Professional|fees|||661|||500|||
|Utilities||||835|||387|||
|Council Tax||||428||||||
|||||24,467|||16,944|||
|Leytonstone|Properties:|||||||||
|Repairs and|Maintenance|||29,268|||31,172|||
|Insurance||||9,151|||6,640|||
|Business Rates and||Water||165|||142|||
|Legal and Professional|||Fees|30,413|||56,278|||
|Utilities||||1,129|||760|||
|Miscellaneous||||3,962|||31,958|||
|||||74,088|||126,950|||
|Carried Forward||||105,438|447,417|985,763|149,450|331,163|1,043,423|





## 

||||2020|||2019|
|---|---|---|---|---|---|---|
|Bought Forward|105,438|447,417|985,763|149,450|331,163|1,043,423|
|GENERAL PROPERTY RUNNING COSTS||(cont)|||||
|Red Hall:|||||||
|Repairs and Maintenance|13,623|||7,627|||
|Utilities|2,387|||2,346|||
|Insurance|5,503|||5,187|||
|Telephone<br>and Miscellaneous|616|||887|||
|Security|1,841|||1,494|||
||23,970|||17,541|||
|Wake House:|||||||
|Insurance|265||||||
|Repairs and Maintenance|420|||15,000|||
||685|130,093||]5,000|181,991||
|TOTAL CHARITABLE ACTIVITIES||577,510|||513,154||
|OTHER COSTS|||||||
|Insurance:|||||||
|Employers Liability|1,727|||1,169|||
|Fidelity Guarantee|680|||672|||
||2,407|||1,841|||
|Salaries|31,556|||30,790|||
|Professional<br>Fees|50,509|||11,450|||
|Office Equipment<br>Rental|1,387|||2,274|||
|Printing<br>and stationery|1,558|||1,616|||
|Telephone<br>and Postages|1,989|||1,843|||
|Audit Fee|5,640|||5,640|||
|Miscellaneous|12,806|||14,063|||
|Bank Charges|1,107|||1,105|||
||106,552|||68,781|||
|Provision for bad and|||||||
|doubtful<br>debts|(603)|||(155,688)|||
|Depreciation|12,517|||12,348|||
|Loss on Sale ofFixed Assets|2|||151|||
||12,519|||12,499|||
|TOTAL GOVERNANCE|COSTS|120,875|||(72,567)||
|TOTAL EXPENDITURE|||698,385|||440,587|
|NKT INCOMING RESOURCES|||287,378|||602,836|





## 

|||||2020||2019|
|---|---|---|---|---|---|---|
|INVESTMENT|PROPERTIES||||||
|LEYTONSTONE (REVALUED||AT31.12.2020)|||||
|Residential Properties:||8 Burghley Road||700,000||700,000|
|||22 Harrington<br>Road||650,000||650,000|
|||28 Harrington<br>Road||609,000||609,000|
|||37Harrington<br>Road||613,000||613,000|
|||107Harold Road||672,000||672,000|
|||13Vernon Road||609,000||609,000|
|||53 Vernon Road||902,000||902,000|
|||20 Church Lane||500,000||500,000|
|||24-27 Church Lane||2,770,000||2,770,000|
|||28 Church Lane||670,000||670,000|
|||29 Church Lane||525,000||525,000|
|||30Church Lane||462,000||462,000|
|||32 Church Lane||536,000||536,000|
|||34 Church Lane||490,000||490,000|
|||745 High Road||660,000||660,000|
|||751 High Road||240,000||240,000|
|||753 High Road||233,000||233,000|
|||751-753 High Road (Garages)||381,500||381,500|
|||783-791 High Road||96,500||96,500|
|||795 High Road||530,000||530,000|
|||797High Road||435,000||435,000|
|||799High Road||400,000||400,000|
|||801 High Road||525,000||525,000|
|||729High Road||358,0Q0||358,000|
|||731High Road||356,000||356,000|
|||735 High Road||384,000||384,000|
|||741 1-Iigh Road||323,000||323,000|
|||809-813High Road||2,650,000||2,650,000|
|||||18,280,000||18,280,000|
|BOURNE k DISTRICT (REVALUED 31.12.2020)|||||||
|Land at South Road|||3,00Q||165,000||
|39 High Street, Morton|||200,000||180,000||
|Land High Street, Morton|||35,000||30,000||
|Morton Fen Farm|||1,780,000||||
|Bungalow,|Morton Fen||160,000||1,000,000||
|37 High Street, Morton|||200,000||||
|6 Bedehouse Bank|||210,000||178,000||
|3 Mercia Gardens|||225,000||185,000||
|4 Merlin Close|||220,000||155,000||
|4 Stretham|Way||170,000||||
|7 Stretham|Way||170,000||176,844||
|12 Stretham|Way||170,000||145,000||
|Wake House, North Street, Bourne|||380,000||139,199||
|Constables|Land, Dyke||44,000||45,000||
|Constables|Land, Bourne||32,000||30,000||
|Short Drove, Dyke Fen|||20,000||22,000||
|Swallow Hill, Thurlby|||60,000|4,079,000|54,000|2,505,043|
|||||22,359,000||20,785,043|
|PROPERTY USED FOR CHARITABLE PURPOSES|||||||
|BOURNE 8cDISTRICT|||||||
|The Red Hall||||500,000||550,000|
|Almshouses, West Street||||1,120,QQQ||980,000|
|Abbey Lawn||||140,000||130,000|
|Well Head|and adjacent properties|||870,000||820,000|
|Allotments||||25,000||25,000|
|Woodland|Witham on the Hill|||||260|
|||||2,655,000||2,505,260|