2021-03-31-accounts - Bridgnorth General Municipal Charity

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	Page
Chairman's Report
Report ofthe Trustees	2to 6
Report ofthe Independent Auditors	7to 8
Statement of Financial Activities
Balance Sheet	10
Cash Flow Statement
Notes to the Cash Flow Statement
Notes to the Financial Statements	13to 22
Detailed Statement ofFinancial Activities	23to 30

						2021	2020
				UnresVlcted	Restricted	Total	Total
				funds	fund	funds	funds
			Notes	F	6	6	F
INCOME AND ENDOWMENTS		FROM
Charitable activities			3
Rental and associated	Income			372,822		372,822	369,655
Other				2,036		2,036
Investment income			2	18,571		18,571	19,376
Total				393,429		393,429	389,031
EXPENDITURE ON
Charitable activities
Rental and associated	income			204,668		204,668	323,295
Net gains/(losses) on	Investments			125,730		125,730	(60,534)
NET INCOME				314,491		314,491	5,202
Other recognised gains/(losses)
Gains on revaluation offixed assets							3,789,079
Net movement In funds				314,491		314,491	3,794,281
RECONCILIATION OF FUNDS
Total funds brought	forward			12,007,705		12,007.705	8,213,424
TOTAL FUNDS CARRIED FORWARD				12,322,196		12,322,196	12,007,706

					2021	2020
			Unrestricted	Restricted	Total	Total
			funds	fund	funds	funds
		Notes	8	8
FIXEDASSETS
Tangible assets		9	12,679,111		12,679,111	12,646,422
Investments		10	710,870		710,870	573,823
			13,389,981		13,389,981	13,220,045
CURRENT ASSETS
Debtors		11	12,114		12,114	9,974
Investments		12	53,958		53,958	53,943
Cash at bank and	in hand		234,731		234,731	167,114
			300,803		300,803	231,031
CREDITORS
Amounts felling due within one year		13	(64,056)		(64,055)	(77,471)
NET CURRENT ASSETS			236,748		236,748	153,560
TOTAL ASSETS	LESSCURRENT
LIABILITIES			13,626,729		13,626.729	13,373.605
CREDITORS
Amounts falling due after more than one year 14			(1,304,533)		(1.304,533)	(1,365,900)
NET ASSETS			12,322,196		12,322.196	12,007,705
FUNDS		17
Unrestricted funds					12,322,196	12,007,705
TOTAL FUNDS					12,322,196	12,007,705

					CASH FLOW STATENIENT
				for	the Year Ended 31 MARCH	2021
						2021	2020
					Notes	9
Cash flows from	operating		activities
Cash generated from operations					1	151,025	73,190
						(15)
Net cash provided	by operating activities					151,010	73,190
Cash flows from	investing		activities
Purchase oftangible fixed assets						(32,689)	(50,225)
Purchase offixed	asset investments					(11,517)	(12,202)
Interest received						16	230
Dividends received						18,555	19,146
Net cash used in	investing	activities				(25,635)	(43,051)
Cash flows from	financing		activities
Loan repayments	in year					(57,758)	(51,659)
Net cash used in	financing	activities				(57,758)	(51,659)
Change In cash	and cash		equivalents
In the reporting	period					67,617	(21,520)
Cash and cash equivalents			at the
beginning ofthe	reporting		period			167,114	188.634
Cash and cash equivalents			atthe	end
ofthe reporting	period					234,731	167,114

	NOTES TO THE CASH FLOW STATEMENT forthe Year Ended 31 MARCH 2021	NOTES TO THE CASH FLOW STATEMENT forthe Year Ended 31 MARCH 2021	NOTES TO THE CASH FLOW STATEMENT forthe Year Ended 31 MARCH 2021	NOTES TO THE CASH FLOW STATEMENT forthe Year Ended 31 MARCH 2021	NOTES TO THE CASH FLOW STATEMENT forthe Year Ended 31 MARCH 2021
RECONCILIATION	OF NET INCOME TO NET CASH Ft OW FROM OI ERATING ACTIN/mES
				2021	2020
				6	6
Net Income forthe	reporting		period (as per the Statement of
Financial Activities)				314,491	5,202
Ad)ustments for:
(Gain)/losses on investments				(125,730)	135,964
Interest received				(16)	(230)
Dividends received				(18,555)	(19,146)
(Increase)/decrease	in debtors			(2,140)	3,195
Decrease in creditors				(17,025)	(51,795)
Net cash provided	by operations			151,025	73,190
ANALYSIS OF CHANGES		IN	NET DEBT

ANALYSIS OF C	HANG	ES IN NET DEBT
			At 1/4/20	Cash flow	At 31/3/21
			6		F
Net cash
Cash at bank and	In hand		167,114	67,617	234,731
			167,114	67,617	234,731
Liquid resources
Deposits included	in cash
Current asset investments			53,943	15	53,956
			53,943	15	53,958
Debt
Debts falling dus	within	1 year	(55,104)	(3,609)	(58,713)
Debts falling due	after 1 year		(1,365,900)	61,367	(1,304,533)
			(1.421,004)	57,758	(1,363,246)
Total			(1,199.947)	125,390	(1,0/4,557)

INVESTME	NT INCOME
		2021	2020
		8	K
Investment	income	18,555	19,146
Bank interest		16	230
		18,571	19,376

	INCONIE FROM CHARITABLE ACTIVITIES
	Rental Income Licences and heating contributions Other income Rental income Other Income Activity Rental and associated income Rental and associated income Rental and associated income Other Other 2021 8 350,189 23,000 (367) (367) 2,403 2020 F 344,018 22,094 3,543 374,858 369,655 CHARITABLE ACTIVITIES COSTS Rental and associated income Direct Costs (sss note 5) 8 158,382 Support costs (see note 6) 6 46,286 Totals 204,668 DIRECT COSTS OF CHARITABLE ACTIVITIES Water rates and council tax Insurance Light and heat Repairs and renewals Grass cutting and garden maintenance Other reliefs Mortgage Interest Loan interest 2021 18.737 6,973 7,716 88,410 3,603 2,270 52,673 2020 8 17,818 6,790 10.961 144,896 3,262 75 3,162 57,356 158,382 244,320 SUPPORT COSTS Rental and associated income Governance costs 6 46,286
6.	SUPPORT COSTS Rental and associated income

INCONIE FROM CHARITABLE ACTIVITIES

Rental Income
Licences and heating
contributions
Other income
Rental income
Other Income
Activity
Rental and associated
income
Rental and associated
income
Rental and associated
income
Other
Other
2021
8
350,189
23,000
(367)
(367)
2,403
2020
F
344,018
22,094
3,543
374,858
369,655
CHARITABLE ACTIVITIES COSTS
Rental and associated
income
Direct
Costs (sss
note 5)
8
158,382
Support
costs (see
note 6)
6
46,286
Totals
204,668
DIRECT COSTS OF CHARITABLE ACTIVITIES
Water rates and council tax
Insurance
Light and heat
Repairs and renewals
Grass cutting and garden maintenance
Other reliefs
Mortgage
Interest
Loan interest
2021
18.737
6,973
7,716
88,410
3,603
2,270
52,673
2020
8
17,818
6,790
10.961
144,896
3,262
75
3,162
57,356
158,382
244,320
SUPPORT COSTS
Rental and associated
income
Governance
costs
6
46,286

SUPPORT COSTS
Rental and associated
income

6.	SUPPORT COSTS
	Rental and associated	income

			2021	2020
			Rental
			and
			assacisted	Total
			Income	activities
				6
Wages			32,961	35,580
Auditors'	remuneration		3,300	3,150
Professional		charges	3,792	32,047
Administrative		costs	6,233	8,198
			46,266	78,975

STAFF CO	STS
				2021	2020
				6
Wages and	salaries			32,961	35,580
				32,961	35,580
The average	monthly	number ofemployees	during the year was as follows:
				2021	2020
Management	and administration			2	2

			Freehold
			property
			6
COST
At 1 April 2020			12,646,422
Additions			32,689
At 31 March 2021			12,679,111
NET BOOK VALUE
At 31 March 2021			12,679,111
At 31 March 2020			12,646,422
		2021	2020
Market Values:
Development	costs
Wardle Close		178,420	178,420
StStephens Place		3,974,230	3,974,230
Sevem Street		3,033,750	3,033,750
10Church Street		497,170	497,170
3St.Leonards	Close	747,920	747,920
Various Land		63,750	63,750
Spinners Court		4,151,182	4,151,182
		2,646,422	2,646,422
		2021	2020
Historic Cost:		F
Development	costs
Wardle Close		156,063	156,063
StStephens Place		108,297	108,297
Severn Street		1,848,240	1,798,015
Spinners Court Development		2,537,529	2,537,529
		4,560,129	4,599,904

		2021	2020
Market Values:		F	6
Opening values		573,623	621,956
Additions		11,517	12,201
Dieposals
Net gains (losses) on revaluations	during year	125,730	(60,534)
Closlrlg values		710,870	573,623
Historic cost		275,926	284,409

	The market values	of t	he fixed asset inves	tments at the year end are	as follows:
					2021	2020
	COIF Income Shares				201,814	167,252
	COIF Accumulation	Shares			162,152	130,429
	NAACIF Income Shares				25,620	27,875
	NAACIF Accumulation		Shares		297,261	231,404
	Charinco Common	Inv	Fund Accumulation	Shares	24,023	23,663
					710,870	573,523
11.	DEBTORS:AMOUNTS		FALLING DUE WITHIN ONE YEAR
					2021	2020
					6
	Rental and maintenance		debtors		9,382	7,464
	Prepaymsnts				2,732	2,510
					12,114	9,974
12,	CURRENT ASSET	INVESTMENTS
					2021	2020
	COIF deposit				3,938	3,933
	Bank deposit				50,020	50,010
					53,958	53,943

NOTES	NOTES	NOTES	TO THE FINANCIAL STATEMENTS - c for the Year Ended 31 MARCH 2021	TO THE FINANCIAL STATEMENTS - c for the Year Ended 31 MARCH 2021	TO THE FINANCIAL STATEMENTS - c for the Year Ended 31 MARCH 2021	ontinued
CREDITORS: ANIOUNTS			FALLlhlG DUE WITHIN ONE YEAR
						2021	2020
						L
Bank loans	end overdrafts			(see note 15)		56,713	53,104
Other loans (see note Trade creditors		15)				2,000 5,159	2,000 22,216
Other creditors						183	151
						64,055	77,471
CREDITORS: AMOUNTS			FALLING DUE AFTER MORE THAN ONE YEAR
						2021	2020
						6	8
Bank loans	(see note	15)				1,295,533	1,352,900
Other loans	(ses note	15)				9,0DD	13,000
						1,304,533	1,365,900
LOANS
An analysis	ofthe maturity			of loans is given below:
						2021	2020
							5
Amounts felling due within			one year on demand:
Bank loans						40,207	37,146
Mortgage repayable in		less		than 1year		16,506	15,958
Other loans						2,000	2,000
						58,713	55,1D4
Amounts falling between one and two years:
Bank loans	repayable	within			1 - 2years	41,840	38,148
Mortgage repayable within				1	- 2years	17,062	16,495
Other loans	repayable	within			1 -2years	2,000	2,000
						60,902	56,643
Amounts falling due between					two and five years:
Bank loans	repayable	within			2 - 5years	133,542	122,173
Mortgage repayable within 2 Other loans repayable within					- 5years 2-5years	36.764 6.000	53,042 6,000
						176,306	181,215
Amounts falling due in		mors			than five years:
Repayable Bank loans	by instalments: repayable after			more than 5years		1,066.325	1,121,935
Mortgage repayable after more than 5years							1,107
Other loans	repayable	after		more than 5years		1,00D	5,000
						1,067,325	1,128,042

MOVEMENT	IN FUNDS
					Net	Transfers
					movement	between	At
				At 1/4/20	In funds	funds	31/3/21
				8	6		F
Unrestricted	funds
Revenue reserve				3,575,206	188,761	(59,958)	3,704,009
Unrestricted	Extraordinary	repair fund		29,338		20,384	49,702
Unrestricted	Cyclical Maintenance		fund	47,429		39,594	87,023
Revaluation	ofinvsstmsnt	assets
reserve				309,214	125,730		434,944
Revaluation	offixed assets	reserve		8,046,518			8,046,518
				12,007,705	314,491		12,322,196
TOTAL FUNDS				12,007,705	314,491		12,322,196

Net moveme	nt in funds, i	ncluded in the	above are ss follow	s:
			Incoming	Resources	Gains and	Movement
			resoul ces	expended	losses	in funds
			F		6
Unrestricted	funds
Revenue reserve			393,429	(204,668)		188,/81
Revaluation	ofinvestment	assets
reserve					125,730	126,730
			393,429	(204,668)	125,730	314,491
TOTAL FUNDS			393,429	(204,668)	125,730	314,491

Comparative	s for movem	ent in f	unds
					Net	Transfers
					movement	between	At
				At 1/4/19	in funds	funds	31/3/20
				E	8
Unrestricted	funds
Revenue reserve				3,452,920	65,736	56,650	3,575,206
Unrestricted	Extraordinary	repair fund		97,030		(67,692)	29,338
Urlrestrlcted	Cyclical Maintenance		fund	36,287		11,142	47,429
Revaluation	of investment	assets
reserve				369,748	(60,534)		309,214
Revaluation	offixed assets	reserve	4,257,439		3,789,079		8,046,618
			8,213,424		3,794,281		12,007,705
TOTALFUNDS			8,213,424		3,794,281		12,007,706
Comparative	net movement	in funds, included		in the above	are es follows:
				Incoming	Resources	Gains and	Movement
				resources	expended	losses	in funds
				E		F	F
Unrestricted	funds
Revenue reserve				389,031	(323,295)		66,736
Revaluation	ofinvestment	assets
reserve						(60,534)	(60,534)
Revaluation	offixed assets	reserve				3,789,079	3,789,079
				389,031	(323,295)	3,728.545	3,794,281
TOTAL FUNDS				389,031	(323,295)	3,728,545	3,794,281

A current ye	ar 12months a	nd prior	year 1	2months combi	ned position is	as follows:
					Net	Transfers
					movement	between	At
				At 1/4/19	In funds	funds	31/3/21
				8		6	F
Unrestricted	funds
Revenue reserve				3,462,920	254,497	(3,408)	3,704,009
Unrestricted	Extraordinary	repair fund		97,030		(47,328)	49,702
Unrestricted	Cyclical IVlaintenance		fund	36,287		50,736	87,023
Revaluation	ofinvestment	assets
reserve				369,748	65,196		434,944
Revaluation	offixed assets	reserve		4,257,439	3,789,079		8,046,518
				8,213,424	4.108,772		12,322,196
TOTAL FUNDS				8,213,424	4,108,772		12,322,196

above are a	s follows:
			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
			F	8	9	6
Unrestricted	funds
Revenue reserve			782,460	(527,963)		254,497
Revaluation	of investment	assets
reserve					65,196	65,196
Revaluation	offixed assets	reserve			3,789,079	3,789,079
			782,460	(527,963)	3,854,275	4,108,772
TOTAL FUNDS			782,460	(527,963)	3,864,275	4,108,772

		2021	2020
		6	6
INCOME AND ENDOWMENTS
Investment income
Investment income		18,555	19,146
Bank Interest		16	230
		18,571	19,376
Charitable activities
Rental income		349,822	344,018
Licences and heating	contributions	23,000	22,094
Other Income		2,036	3,543
		374,858	369,655
Total Incoming resources		393,429	389,031
EXPENDITURE
Charitable activities
Water rates and council tax		18,737	17,818
Insurance		6,973	6,790
Light and heat		7,716	10,961
Repairs and renewals		66,410	144,896
Grass cutting and garden maintenance		3,603	3,262
Other rellefs			75
Mortgage interest		2,270	3,162
Loan interest		52,673	57,356
		158,382	244,320
Support costs
Governance costs
Wages		32,961	35,580
Auditors' remuneration		3,300	3,150
Professional charges		3,792	32,047
Administrative costs		6,233	8,198
		46,286	78,975
Total resources expended		204,668	323,295
Net Income		188,761	65,736

			2021	2020
				f
INCOMING RESOURCES
Investment income
Investment income			18,560	19,146
Bank interest			11	230
			18571
Incoming resources from Other income	charitable	activities	536	243
Licences, and heating contributions			22,985	22,094
			~23 521	22,337
Total Incoming resources			42,092	41,713
RESOURCES EXPENDED
Direct Charitable Expenditure Light and heat Water rates and council tax			2,797 1,406	3,454 1,397
Insurance			662	640
Repairs and renewals Other			1,404 20	1,141 30
Gardening
			6289	B662
Support costs
Management Oflice and administrative	costs		2 854	4,762
			2 854	~4762
Total resources expended			9,143	11,424
Net Incoming Resources	before transfers		32,949	30,289
Transfer to designated funds To/From Extraordinary repair fund To Cyclical repair fund			2,032 3,324	2,198
From Cyclical repair fund
			5,356	2,198
Net Incoming Resources	for the Year		38,305	32,487

			2021	2020
			E	E
INCOMING RESOURCES
Incoming resources from Rental income	charitable	activities	119,727	117,778
Other income			1,500
Total incoming resources			121,227	117,778
RESOURCES EXPENDED
Direct Charitable Expenditure Light and heat Water rates and council tax			70 10,135	9,885
Insurance			2,229	2,202
Repairs and renewals Gardening			7,960 2,969	18,960 1,306
Other reliefs
			23363	32353
Support costs
llllanagement Office and administrative	costs		14,864	~25406
			~14864	25,406
Total resources expended			38,227	57,759
Net Incoming Resources	before transfers		82,999	60,019
Transfer to designated funds
To/From Extraordinary repair fund To Cyclical repair fund From Cyclical repair fund			13,208 21,606 ~840	(4,854) 14,279 ~800)
			33,974	8,625
Net Incoming Resources	for the Year		~116973	68,644

	for	the Year Ended 31 MARC	H 2021
			2021	2020
INCOMING RESOURCES
Incoming resources from Rental income	charitable	activities	79,807	~80 176
Total Incoming resources			79,807	80.176
RESOURCES EXPENDED
Direct Charitable Expenditure Light and heat Water rakes and council tax insurance Repairs and renewals Gardening Mortgage interest			341 5,615 1,803 33,326 301 ~2270	3,744 3,362 1,747 88,432 270 3,162
			436 6	0717
Support costs
Management Office and administrative	costs		~9908	17,296
			9908	17,296
Total resources expended			53,564	98,013
Nst Incoming Resources	before transfers		26,242	(17,837)
Transfer to designated funds Tc/From Extraordinary repair fund To Cyclical repair fund From Cyclical repair fund			(3,942) 14,958 ~9446	(29,796) 9,885 ~21 984)
			1,570	(41,895)
Net Incoming Resources	for the Year		27,812	~59,732)

			2021	2020
			E	E
INCOMING RESOURCES
Incoming resources from	charitable	activities	26,995	25,335
Rental income
Total incoming resources			26,995	25,336
RESOURCES EXPENDED
Direct Charitable Expenditure Light and heat Water rates and council tax			4,608 1,199 845	3,763 1,146 616
Insurance Repairs and renewals			4,213	49,148 45
Other
			«10764	54918
Supportcosts
Management Office and administrative	costs		3,352	~5465
			«3362	5,465
Total resources expended			14,116	60,383
Net Incoming/(Outgoing)	Resources	before transfers	12,897	(35,048)
Transfer to designated funds To/From Extraordinary repair fund To Cyclical repair fund			2,741 6,648	(40,854) 3,844
From Cyclical repair fund
			9,389	(37,010)
Net (Outgoing)/Incoming	Resources for the Year		22,268	~72 058)

			2021	2020
			F
INCOMING RESOURCES
Incoming resources from Rental income	charitable	activities	4,397	~4965
Total incoming resources			4,397	4,965
RESOURCES EXPENDED
Direct Charitable Expenditure
Light and heat Water rates and council tax			382 114	373 110
Insurance Repairs and renewals			16,711 17207	~2156 ~29
Support costs
Management Office and administrative	costs		546	~1074
Total resources expended			17,753	3,713
Net Incoming/(Outgoing)	Resources	before transfers	(13,356)	1,252
Transfer to designated funds To/From Extraordinary repair fund To Cyclical repair fund From Cyclical repair fund			(3,495) 831 ~9086	549
			(11,750)	549
Net (Outgoing)/Incoming	Resources	for the Year

	for	the Year Ended 31 INARCH 20	21
			2021	2020
			E	F
INCOMING RESOURCES
Incoming resources from	charitable	activities	118,911	115,7B3
Rental income				800
Electricity refund
			118,911	116,563
Total incoming resources
RESOURCES EXPENDED
Direct Charitable Expenditure
Light & heat				1,655
Water rates 8, counril tax			1,318	1,275
Insurance Repairs &renewals			3,110 ~52 B73	6,745 5'/,356
Loan Interest
			57 100	~57 031
Support costs
INanagemsnt Office and administrative	costs		14,783	24,972
Total resources expended			71,863	92,003
Net Incoming/(Outgoing)	Resources before transfers		47,048	24,560
Transfer to designated funds To/From Extraordinary repair fund To Cyclical repair fund			9,820 11,600	10,983
From Cyclical repair fund
			21,420	10,983
Net (Outgoing)/Incoming	Resources for the Year		68,468	35,543

	for th	e Year Ended 31 llilARCH	2021
			2021	2020
			E	F
EXPENDITURE
			32,961	35,580
Office salaries			972	1,201
Light and heat			737	683
Water rates and council tax			386	375
Insurance			289	1,018
Repairs and renewals			863	6'70
Telephone			282	853
Computer costs			289	479
Printing, postage and	stationery
Travel expenses			703	825
Bank charges			3,300	3,150
Audit costs				11,207
Professional charges Professional charges	—legal —surveyors		3,342 450	20,480 360
Professional charges	- payroll
Bad debts			1,712	2,094
Sundry expenses
Total Management	and Administrative	Costs	46 286	78 975

llocation of Management	llocation of Management	and Adminis	trative Costs
Church Street Almshouses StStephen's Place Sevem Street Reverend Francis Palmer's		Hospital		2,854 14,864 9,908 3,352 546	4,762 25,406 17,296 5,465 1,074
Wardle Close				~14 763	~24 372
Spinner's Court
Total Management	and Administrative		Costs	46,286	~78 975