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2020-12-31-accounts

Co-opted Trustees Co-opted Trustees Mr C R Mason (Chairman) (Chairman)
Mr T R Brown
Mr D E Hanson
Mr S Hatton
Mrs J Marshall
Dr P A Thurley
Mrs A White
Mr T Morris
Mr P Beddoes
Mrs R McCarthy (Appointed October 2020)
Nominated Trustees Cllr M A Grainger
Cllr N Butler
Ex-officio Trustee Mayor ofTown of Warwick-
Cllr T Morris (appointed May 20)
Cllr N Murphy (resigned May 20)
Charity number 216829
Joint clerks to the Mr C E R Houghton
Charity Mr J 8Williams
Pffncipal address C/0 Moore gt Tibbits Solicitors Moore &Tibbits
34 High Street 34 High Street
Warwick Warwick
Warwickshire CV344BE
CV344BE
Investment Advisors Quilter Cheviot Bankers Lloyds TSBBank pic
Provincial
House		 10—12Swan Street
37 New Walk Warwick
Leicester CV34 4BT
LE1GTU
CCLA Fund Manaaers Limited Auditor Burais ik Bullock
Senator House 23-25Waterloo Place
BSQueen Victoria Street Warwick Street
London Leamington Spa
EC4V 4ET Warwickshire
CV32 SLA

Page
Trustees'report 1-8
Independent auditor's report 9 —12
Statement of financial activities 13-16
Balance sheet 17
Statement of cash flows 18
Notes to the financial statements 19-39

Unrestricted Designated Restricted Endowment Total Total
funds funds funds funds
2020 2020 2020 2020 2020 2019
Notes f f f f f
Income from:
Donations
and Grants
received 3 31,075 31,075 30,050
Charitable
activities
Almshouses
Income		 4 67,575 67,575 63,454
Oken Feast 4 4,668 4,668 3,962
Other trading activities 5 6,720,560 6,720,560 2,340,218
Investment
income		 6 130,675 130,675 59,505
Total income 6,954,553 6,954,553 2,497,189
~ECht
Charitable
activities
Almshouses
management 7 34,023 16,667 50,690 62,148
Other trading activities 7 2,301,631 2,301,631
Grants payable 8 115,507 115,507 214,559
Total charitable expenditure 2,451,161 16,667 2,467,828 276,707
Governance
and
Administration 9 51,491 11,314 62,805 57,718
Total resources
expended 2,502,652 27,981 2,530,633 334,425
Net
income/expenditure
for the year 4,451,901 (27,981) 4,423,920 2,162,764
Net gains/(losses) on
investments 11 261051 ~1997 ~3332 36109 291831 178533
Net
incoming/(outgoing)
resources before
transfers 4,712,952 (1,997) (3,332) 8,128 4,715,751 2,341,297

Unrestricted Designated Restricted Endowment Total Total
funds funds funds funds
2020 2020 2020 2020 2020 2019
Notes E E E E E E
Gross transfers
between
funds		 (132,461) 1,100 131,361
Net movement in funds 4,580,491 (1,997) (2,232) 139,489 4,715,751 2,341,297
Fund balances at 1
January 2020 2,638,221 29,841 124,386 3,557,460 6,349,908 4,008,611
Fund balances at 31
December 2020 7,218,712 27,844 122,154 3,696,949 11,065,659 6,349,908

Prior Year Unrestricted Designated Restricted Endowment Total Total
funds funds funds funds (as
restated)
2019 2019 2019 2019 2019 2018
Notes f f f f f f
Income from:
Donations
and Grants
received 3 30,050 30,050 30,050
Charitable
activities
Almshouses
Income		 4 63,454 63,454 56,720
Oken Feast 4 3,962 3,962 3,990
Other trading activities 5 2,340,218 2,340,218
Investment
income		 6 59,505 59,505 61,767
Total income 2,497,189 2,497,189 152,527
~Edit
Charitable
activities
Almshouses
management 45,481 16,667 62,148 65,899
Oken video 1,569
Grants payable 214,559 214,559 110,251
Total charitable expenditure 260,040 16,667 276,707 177,719
Governance
and
Administration 49,780 7,938 57,718 32,740
Total resources
expended 309,820 24,605 334,425 210,459
Net gains/(losses) on
investments 11 41,156 4,969 8,290 124,118 178,533 (120,481)
Net
incoming/(outgoing)
resources before
transfers 2,228,525 4,969 8,290 99,513 2,341,297 (178,413)

Unrestricted Designated Restricted Endowment Total Total
funds funds funds funds
2019 2019 2019 2019 2019 2018
Notes f f f f
Gross transfers
between funds (67,217) (45,626) 116,096 (3,253)
Net movement in funds 2,161,308 (40,657) 124,386 96,260 2,341,297 (161,746)
Restated fund
balances at 1January
2019 476,913 70,498 3,461,200 4,008,611 4,170,357
Fund balances at 31
December 2019 2,638,221 29,841 124,386 3,557,460 6,349,908 4,008,611

Group Group Charity
2020 2019 2020 2019
Notes f f f f
Fixed assets
Tangible assets 12 1,199,999 1,216,666 1,199,999 1,216,666
Investment property 13 350,000 385,000 350,000 385,000
Investments 14 6,976,922 3,899,463 6,976,922 3,899,464
8,526,921 5,501,129 8,526,921 5,501,130
Current assets
Stocks 16 750,500 500
Debtors 17 2,414,349 39,798 944,886 39,800
Cash at bank and in hand 476,406 618,798 170,311 95,213
2,890,755 1,409,096 1,115,197 135,513
Creditors: amounts falling due
within one year 18 (352,017) (560,317) (54,213) (37,862)
Net current assets/(liabilities) 2,538,738 848,779 1,060,984 97,651
Net assets 11,065,659 6,349,908 9,587,905 5,598,781
Capital funds
Endowment funds 20 3,696,949 3,557,460 3,696,949 3,557,460
Income funds
Unrestricted funds
Designated funds 19 27,844 29,841 27,844 29,841
General unrestricted funds 22 7,218,712 2,638,221 5,740,958 1,887,094
Restricted fund 21 122,154 124,386 122,154 124,386
11,065,659 6,349,908 9,587,905 5,598,781
The financial statements were approved by the Trus
e on.2%/O?.(4		 4~

2020 2019
Notes
Cash flows from general activities
Cash generated
from operations		 24
2,477,563 2,853,691
Investing
activities
Purchase of investments (3,886,203) (1,894,737)
Proceeds on sale ofinvestments 402,109 555,212
Purchase oftangible
fixed		 assets
Interest received 130,675 59,505
Net cash used in investing (3,353,419) (1,280,020)
Financing activities
Net cash generated
from/(used
in) financing
activities
Net decrease in cash and cash (875,856) 1,573,671
Cash and cash equivalents at beginning of
year 1,692,081 118,410
Cash and cash equivalents at end ofyear 816,225 1,692,081
Relating to:
Cash and cash equivalents
Short term deposits included		 in investments 476,406
~19		 618,798
107 28

2020 2019
f f
Grants received
Warwick Relief in Need 7,769 10,000
Warwick United Charities 3,884 5,000
Warwick Provident Charity 3,884 5,000
King Henry V111 15,538 10,000
Solihull Wives 50
31,075 30,050

2020 2019
f f
Almshouses Contributions 67,575 63,454
Oken Feast 4,668 3,962
Charitable activities 72,243 67,416
Other trading activities
Unrestricted Total
funds
2020 2019
f f
Provision ofprofessional services and land sales 6,720,560 2,340,218
Other trading activities 6,720,560 2,340,218

Investment
income
Unrestricted Total Total
funds
2020 2020 2019
Rental income 11,649 11,649 15,000
Income from listed investments 49,028 49,028 35,758
Income from unlisted investments 69,070 69,070 8,747
Bank interest received 928 928
130,675 130,675 59,505
Forthe year ended 31December 2019 59,505 59,505

Almshouses Other Grants Grants Total Total
management
f		 trading act
f		 payable
f		 2020f 2019
f
General
repairs		 13,061 13,061 29,923
Depreciation 16,667 16,667 16,667
Insurance 4,242 4,242 3,642
Light and heat 740 740 1,124
Maintenance ofgardens 3,365 3,365 2,880
Water rates and charges 4,400 4,400 2,147
Miscellaneous expenses 1,535 1,535 596
Christmas
gifts		 550 550 600
Oken's feast 6,130 6,130 4,569
Cost ofservices sold 1,551,632 1,551,632
Cost of land 749,999 749,999
50,690 2,301,631 2,352,321 62,148
Grant funding ofactivities (see note 8) 115,507 115,507 214,559
~31 ~11 7 ~2467
2		 ~27

2020 2019
E
St Mary's Collegiate Parish Church 500
Safeline 4,776
Myton
Hospice		 10,344
Enhanced
Care at Home Project		 26,976 66,591
Springfield
Mind		 36,923
Citizens Advice Bureau 21,124 21,124
Warwickshire
College		 Group 10,000
Parenting
Project		 15,708
Warwickshire
Care		 Services 116,000
115,507 214,559
Governance
and Administration
Unrestricted Endowment Total Total
funds funds 2020 2019
general E
Audit fees 10,400 10,400 10,000
Clerk's fees and expenses 23,000 23,000 21,500
Accountancy fees 11,011 11,011
Legal and professional fees 5,276 5,276 16,720
Investment
brokers		 fees 1,606 11,314 12,920 9,163
Bank charges 198 198 122
Sundry expenses 213
51,491 11,314 62,805 57,718

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Fixed asset investments
Group &Charity
Listed Designated COIF Cash at Total
investments BlackRock investments broker
f f E
Cost or valuation
At 1January 2020 1,115,631 29,842 1,680,707 1,073,283 3,899,464
Additions 1,457,598 2,428,603 3,886,201
Valuation
changes		 63,943 (1,998) 264,885 326,830
Fundsinvested (720,544) (720,544)
Investment
mgt fees		 (12,920) (12,920)
Disposals (402,109) (402,109)
At 31December 2020 2,235,063 27,844 4,374,196 339,819 6,976,922
Carrying amount
At 31December 2020 2,235,063 27,844 4,374,196 339,819 6,976,922
At 31December 2019 1,115,631 29,842 1,680,707 1,073,283 3,899,464

Group &Charity —prior year Group &Charity —prior year
Listed Designated COIF Cash at Total
investments Blackgock investments broker
E 6 6
Cost or valuation
At 1January 2019 1,040,506 24,872 242,744 34,780 1,342,902
Additions 522,686 1,372,052 1,894,738
Valuation
changes		 107,653 4,970 65,912 178,535
Cash awaiting
investment		 1,047,667 1,047,667
Investment
mgt fees		 (9,164) (9,164)
Disposals (555,214) (555,214)
At31December 2019 1,115,631 29,842 1,680,707 1,073,283 3,899,464
Carrying amount
At 31December 2019 1,115,631 29,842 1,680,707 1,073,283 3,899,464
At 31December 2018 1,040,506 24,872 242,744 34,780 1,342,902
Charity Other investments comprise:
Investments
in subsidiaries
15 Financial
instruments		 2020 2019
E 6
Carrying amount offinancial assets
Equity Instruments
measured		 at fair value through profit or lass 6,976,922 3,899,463
Debtors measured
at fair value		 through
profit		 or loss 2,414,348 39,798
Cash &cash equivalents
held		 at fair value through profit or loss 476,406 618,798
Carrying amount offinancial liabilities
Creditors measured
at fair		 value through
profit		 or loss 352,017 560,317
Net financial assets 9,515,659 3,997,742

16 Stocks
Group Charity
2020 2019 2020 2019
Notes f f f f
Finished goods and goods for resale 750,500 500
750,500 500
17 Debtors: Amounts falling due within one year
Group Charity
2020 2019 2020 2019
Notes f f f
Trade debtors 2,398,572 500
Rental debtors 4,245 4,410 4,245 4,410
Other debtors 953 953
Prepayments and accrued income 11,532 34,435 940,141 34,437
2,414,349 39,798 944,886 39,800

18 Creditors: amounts Creditors: amounts falling due within one year falling due within one year
Group Charity
2020 2019 2020 2019
Notes 6 6 E f
Other taxation and social security 296,333 517,657
Trade creditors 1,176 1,176
Accruals and deferred income 54,508 42,660 53,037 37,862
352,017 560,317 54,213 37,862
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24 Cash generated
from operations		 Cash generated
from operations		 2020 2019
E
Surplus for the year 4,715,751 2,341,297
Adjustments
for:
Investment
income recognised		 in profit or loss (130,673) (59,505)
(Gain)/loss
on disposal of investments		 24,589 (29,677)
Fair value gains and losses on investments (351,420) (148,856)
Fair value gains and losses on investment properties 35,000
Depreciation
and impairment		 oftangible fixed assets 16,667 16,667
Movements
in working capital:
Decrease/(increase)
in debtors		 (2,374,551) (36,577)
(Decrease)/increase
in creditors		 (208,300) 523,694
Decrease/(increase)in
stocks		 750,500 246,648
Cash generated
from general		 activities 2,477,563 2,853,691
25 Analysis ofchanges in net funds

Name of undertaking Registered Nature ofbusiness Class of %Held
office shares held Direct Indirect
Oken Eyffler UK Land development Ordinary 100.00
share