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|CONTENTS||||
|---|---|---|---|
||||Page|
|Trustees'
Report|||2 —6|
|Otftcers &Contacts||||
|Statement ofTrustees*||Responsibiliues||
|independent
Auditors'||Report|p-tt|
|Financial Statements|||12-14|
|Notes on Financial|Statements||15-23|
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|TRUSTEES OF CORPORATE|Tim Bailey||||Stephen|Parker|||
|---|---|---|---|---|---|---|---|---|
|TRUSTEE|Gill Cleave||||Jonathan|Smith|(appointed|I April 2022)|
||Liz Coles||||Clive Snowdon||||
||Tony Jackson||||Josie Stevens||||
||Lindsay MacDonald||||David Taylor||||
||Matthew
Macdonald||(resigned 31||Quentin|Willson|||
||January 2022)||||||||
|CHIEF EXECUTIVE|Sara Aspley||||||||
|(ofcorporate trustee)|||||||||
|SENIOR MANAGEMENT|Sara Aspley, Rebecca Hampson,|||James McHugh,||Fiona|Tomlinson|(to7.8.21),Paul|
|TEAM (ofcorporate trustee)|Fitzpatrick (appointed||26.7.21),Lynn Perkins||||||
|ADDRESS|Stratford-upon-Avon||Town Trust||||||
||14Rather Street||||||||
||Stratford-upon-Avon||CV37 6LU||||||
|BANKERS|Barclays Bank pic||||||||
||Market Cross||||||||
||Stratford-Upon-Avon||||||||
||Warwickshire||||||||
||CV37 6AP||||||||
|SOMCITORS|Messrs Robert Lunn||&Lowth||Mills &|Reeve|||
||2 Sheep Street||||78-84 Colmare||Row||
||Stratford-upon-Avon||CV376EJ||Birmingham||B32AB||
|AUDITORS|Saffery Champness||LLP||||||
||StJohn's Court||||||||
||Easton Street||||||||
||High Wycombe
HPI I IJX||||||||
|PROPERTY MANAGER|Colliers International||||||||
||12o Floor, Eleven Brindley Place||||||||
||2 Brunswick
Square||||||||
||Brindley
Place||||||||
||Birmingham
BI|2I.P|||||||
|INVESTMENT MANAGERS|Sarasin &Partners LLP||||Cazenove Capital (part ofSchroders &||||
||Juxon House||||Co Limited)||||
||100StPaul's Churchyard||||I London Wall Place||||
||Landon||||London||||
||WC4iM 8BU||||EC2Y 5AU||||
||Charities
Property|Fund|||Schraders &Ca Limited||||
||Cordea Savilla||||I London Wall Place||||
||33 Margaret
Street||||London||||
||London WIG 0JD||||EC2Y SAU||||
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||||Unreclrlclwl|Pcrmancat|Total funds|Unrestricted|Pennancnt|Total funds|
|---|---|---|---|---|---|---|---|---|
|||Notes|funds|endowment
funds|2021|l'unde|endowment
funm|2020|
||||2021
f|sarIf||2020
f|2asaf||
|Income from:|||||||||
|Inveshnent
income|||928,450||928,450|909,783||909,783|
|Other income|||38||38|709||709|
|Total iacome|||928,488||928,488|910,492||910,492|
|Expenditure
on:|||||||||
|Raising funds||5|273,794||273,794|324,121||324,121|
|Charitable
activities||6|454,692||454,692|578,944||578,944|
|Total expeaditure|||728,486||728,486|903,065||903,065|
|Net galas I(losses)|an||||||||
|Invcstnleuts|||75,434|801,136|876,570|(18,794)|(17,633)|(36,427)|
|ReclassiTicatioo ofreserves|||300,000|(300,000)|||||
|Net movement
in funds|||575,436|501,136|1,076,572|(11,367)|(17,633)|(29,000)|
|Rceanciliatioa
of|funds||||||||
|Total funds brought|forward||30,868|16,876,852|16,907,720|42,235|16,894,485|16,936,720|
|Total funds carried forward||11|606,304|17,377,988|17,984,292|30,868|16,876,852|16,907,720|
##
||||Notes||2021|||2020||
|---|---|---|---|---|---|---|---|---|---|
|Fixed assets||||||||||
|Investments||||||18,510,947|||17,634,377|
|Current assets||||||||||
|Debtors|||9|196,687|||87,203|||
|Cash at bank|and|in hand||294,125|||306,984|||
|||||490,812|||394,187|||
|Creditors:|amounts|||||||||
|falling due within||one year|10|(1,017,467)|||(I,120,844)|||
|Net current|liabilities|||||(526,655)|||(726,657)|
|Net assets||||||17,984,292|||16,907,720|
|Funds||||||||||
|Capital funds||||||||||
|fndowment|funds|||||17,377,988|||16,876,852|
|Unrestricted|funds|||||||||
|Other charitable||funds||||606,304|||30,868|
|Total funds||||||17,984,292|||16,907,720|
##
||||||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||Total funds|Total funds|
||||||||||||8|8|
|Cash flows from operatiag||activinest|||||||||||
|/Vet cash user/in
epentnng||ec/ivit/es|||||||||941 09|~96$489|
|Cash flows from invcstiag||scbvities:|||||||||||
|Dividends,
interest snd tents fmm investments|||||||||||928,450|909,783|
|Proceeds fmm sale ofinvestments||||||||||||388s64|
|Purchase ofinvestments|||||||||||~19616|~43
440|
|/Vet cnrh provided
hy htvetting|||ec/ivities||||||||908,834|866,607|
|Change
in cash snd cash equivalents||||in the reporting|||period||||(32,475)|(101,882)|
|Cnsb and cash cquivalcals||at31December||||2020|||||330.147|432029|
|Cash and cash cquivalcats||at|31December|||2021||||||33Lfd2|
||||||||||||2021|2020|
||||||||||||Total funds|Total funds|
|Recondliation
of net income|||/ (expenditure)|||to aet cash flaw from|||operating||||
|activities|||||||||||||
|Ne/ income /(expend/etre/|for||/he reporting period (asper the stctem||||||eat|offinoncio/|1,076,572|(29,000)|
|oct/vi/iesj|||||||||||||
|Adjustments
for:|||||||||||||
|(Gains) / losses on investments|||||||||||(876,570)|36,427|
|Dividends,
interest,
and rent||&om investments|||||||||(928,450)|(909,783)|
|Increase in debtors|||||||||||(109,484)|(24,481)|
|Decrease in creditors
Ne/ ces/t used in operating||ac/hines|||||||||~I0337
~19|~41 652
~048|
||||||||||||2021|2020|
||||||||||||Total funds|Totalfuads|
||||||||||||8||
|Analysis ofcash and cash||cquivalcnts|||||||||||
|Cash in hand|||||||||||294,125|306,984|
|Cash awaiting deposit*|||||||||||3 547|23 163|
|Tetsl cash and cash cquivalcats|||||||||||||
|*Isunavailable
for general||expenditure|||as it|is an endowed||asset.|||||
|Analysis ofchange in act||debt|||||||||||
||||||||||At||Casbflow|At|
|||||||||I January||2021||31Dccembcr 2021|
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|Cash and equivalents|||||||||||||
|Cash in hand|||||||||306,984||(12,859)|294,125|
|Cash awaiting deposit|||||||||23,163||(19,616)|3,547|
|Total|||||||||330,147||(32,475)|297,672|
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||||||2021|2020f|
|---|---|---|---|---|---|---|
|3|Investment
income from:||||||
||Investment
Properties||||619,635|613,005|
||Quoted Investments||||308,815|296,778|
||||||928,450|909,783|
||Income and expenditure
relating to|||the Rother Street Car Park is split 86.09%to Guild and||13.91%to College|
||in accordance with land ownership|||arrangements.|||
||||||2021|2020|
|4|Other Income from:||||||
||Interest receivable on cash|at|bank||38|709|
||||||2021|2020f|
||Expenditure
on raising funds.||||||
||Investment
property
management|||costs|166,672|225,217|
||Investment
fund managers|fees|||36,901|35,197|
||Support costs (note 7)||||70,221|63,707|
||||||273,794|324,121|
||||||2021|2020|
|6|Expenditure
on charitable||activities:||f||
||Grant to Stratford-upon-Avon||Town Trust||443,303|567,962|
||Payment to the vicar ofHoly||Trinity||7,000|7,000|
||Support costs (note 7)||||4,389|3,982|
||||||454,692|578,944|
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|7|Allocation ofsupport costs|Allocation ofsupport costs||||||
|---|---|---|---|---|---|---|---|
||||Basis of|Charitable|Governance|Raising|Tatal funds|
||||allocation|Activities||Funds|2021|
|||||f||f|f|
||Staffcosts||Time|2,688|8,063|43,001|53,752|
||Office costs||Time|814|2,442|13,029|16,285|
||External
audit||Direct||4,573||4,573|
||Governance|costs|Cost|887|(15,078)|14,191||
||Total|||4,389||70,221|74,610|
|||||(note 6)||(note 5)||
||||Basis af|Charitable|Governance|Raising|Total funds|
||||allocation|Activities||Funds|2020|
|||||f||f|f|
||Staffcosts||Time|2,520|7,559|40,314|50,393|
||Office costs||Time|635|1,904|10,153|12,692|
||External audit||Direct||4,604||4,604|
||Governance|costs|Cast|827|(14,067)|13,240||
||Total|||3,982||63,707|67,689|
|||||(note 6)||(note 5)||
##
|||2021|2020|
|---|---|---|---|
|8|Fixed asset investments|||
||Investment
properties|8,586,000|8,536,000|
||Quoted investments|9,921,400|9,075,214|
||Cash awaiting
investment|3,547|23,163|
|||18,510,947|17,634,377|
||Investment
properties:|||
||Valuation
at 31 December 2020|8,536,000|8,544,500|
||Revaluation
gains / (losses)|50,000|(8,500)|
||Valuation
at 31December 2021|8,586,000|8,536,000|
||Cost or donated
value at 31 December 2021|1,626,119|1,626,119|
||Quoted investments:|||
||Market value at 31 December 2020|9,075,214|9,060,032|
||Additions
at cost|19,616|431,440|
||Sale Proceeds||(388,264)|
||investment
gains / (losses)|826,570|(27,994)|
||Market value at31 December 2021|9,921,400|9,075,214|
||Historical
cost at 31 December 2021|6,625,925|6,606,309|
##
|||||2021f|2020
8|
|---|---|---|---|---|---|
|9|Debtors:|amounts
falling due within|one year|||
||Trade debtors|||62,808|61,512|
||Prepayments
and accrued income|||29,696|24,013|
||Amount|owed by Guild Estate||9,093|1,678|
||Amount|owed by Stratford-upon-Avon|Town Trust|95,090||
|||||196,687|87,203|
|||||2021f|2020|
|10|Creditors: amounts
falling due within one year|||||
||Trade creditors|||10,905|9,428|
||Accruals|and deferred income||854,275|862,953|
||Other creditors|||120,000|97,500|
||Taxation|and social security||32,287|39,716|
||Amount|due to Stratford-upon-Avon|Town Trust||111,247|
|||||1,017,467|1,120,844|
||||2021|2020|
|---|---|---|---|---|
|||||0|
|Reconciliation||ofdeferred income:|||
|At I January 2021|||823,949|811,861|
|Released|during|the year|(156,149)|(139,861)|
|Deferred|in current year||150,073|151,949|
|At 31 December||2021|817,873|823,949|
||||2021|2020|
||||8||
|Included|within|accruals are the following fees payable to the auditor for:|||
|Statutory|audit||4,600|4,304|
##
|11|Analysis ofnet assets between funds|Unrestricted|Endowment|Total|
|---|---|---|---|---|
|||Funds|funds|2021|
|||2021|2021||
||Investments|1,098,774|17,412,173|18,510,947|
||Current assets|490,812||490,812|
||Current liabilities|(983,282)|(34.185)|(1,017,467)|
|||606,304|17,377,988|17,984,292|
|||Unrestricted|Endowment|Total|
|||Funds|funds|2020|
|||2020|2020||
||Investments|723,342|16,911,035|17,634,377|
||Current assets|394,187||394,187|
||Current liabilities|(1,086,661)|(34,183)|(I,120,844)|
|||30,868|16,876,852|16,907,720|
##
|Summary o|fFund|Movements|||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|||Fund||||||||Fund|
|||Balances
31December|income
f|Bxpcoditurc|Caine and
Losses||Transfer
between
funds|||Balances
31Dcccmbcr|
|Fund Name||2020f|||f||f|||2011|
|Unrestricted|Funds|30,868|928,488|(728,486)|75,434||300,000|||606,304|
|Permanent|||||||||||
|Endowment|Funds|16,876,852|||801,136||(300,000)|||17,377,988|
|Total Funds||16,907,720|928,488|(728,486)|876,570|||||17,984,292|
|||Fund Balances||||||||Fund Balances|
|||31 December 2019
f|Income
f|Expenditure
f||Gains aad Losses|||31December 2020||
|Fund Name|||||||||||
|Unrestricted||42,235|910,492|(903,065)|||(18,794)|||30,868|
|Funds|||||||||||
|Permanent|||||||||||
|Endowment||16,894,485|||||(17,633)|||16,876,852|
|Funds|||||||||||
|Total Funds||16,936,720|910,492|(903,065)|||(36,427)|||16,907,720|
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|ransactions:|During t|he year t|he following
transactio|ns
were entered
into on|normal
terms and|conditions.|
|---|---|---|---|---|---|---|
||||Stratford-upon-|Stratford-upon-|Guild|Guild|
||||Avon Town Trust|Avon Tawn Trust|Estate|Estate|
||||31December|31December|31December|31December|
||||2021|2020f|2021
f|2020
g|
|RentsVService|Charge||40,140|42,957|||
|income|||||||
|Expenditure|||||||
|Grant|||443,303|567,962|||
|Management|charge||63,715|62,158|||
|Balances outstanding||at31|||||
|December 2021|||||||
|Debtors|||95,090||9,093|1,678|
|Creditors||||111,247|||
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|||Grants to|Grants to|Support|Grants to|Grants to|Support|
|---|---|---|---|---|---|---|---|
|||Instituaons|Individuate|Costs|iostitudons|Individuate|Costs|
|||2021|2021|2021|2020|2020|2020|
|||||s||||
|Discretionary|Grants|443,303||4,039|567,962||3,682|
|Non-Discretionary||||||||
|Grants|||7,000|350||7,000|300|
|||443,303|7,000|4,389|567,962|7,000|3,982|
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