**SKELTON BOUNTY ANNUAL REPORT AND INDEPENDENTLY EXAMINED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5[TH] APRIL 2021 CHARITY NUMBER: 219370**
**SKELTON BOUNTY**
**TRUSTEES’ REPORT FOR THE YEAR ENDED 5[TH] APRIL 2021**
The Trustees present their annual report and financial statements of the charity for the year ended 5[th ] April 2021. The financial statements have been prepared in accordance with the charity’s trust deed, 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 (FRS102) update bulletin 2 (effective 1[st] January 2019) .
The accounts have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
## **OBJECTIVES AND ACTIVITIES**
The charity makes grants to legally constituted charities situated working within the counties of Lancashire, Greater Manchester, and Merseyside (including the unitary areas of Blackburn, Blackpool, Halton and Warrington).
## **Grant Making Policy:**
The availability of grants is publicised and applications for grants are received each year between February and May. Decisions about which applications are to be supported are taken by the Trustees at their annual meeting which is usually held in June or July. The Bounty makes grants whose sizes range from as little as £50 to a maximum of £5,000 (2020: maximum £5,000). Factors which are taken into account in choosing the successful applications include the amount sought, the nature of the applicant charity and the project, and whether the applicant charity has a track record of successfully delivering its objectives with previous assistance from the Bounty. The Trustees prefer to make grants to assist capital or one-off projects rather than recurring routine expenditure.
## **Public Benefit:**
In planning the charity’s grant making activities the Trustees have given consideration to the Charity Commission’s guidance on public benefit. As a grant making charity, all applications are considered to ensure beneficiary charities themselves deliver public benefit.
## **ACHIEVEMENTS AND PERFORMANCE**
Grants were awarded to 63 (2020: 57) charities ranging from £500 to £2,500 (2020: £450 to £4,000).
The charity’s investments are held in composite funds which are actively monitored and managed throughout the year by the Investment Managers. The income generated by the investments has been sufficient for the charity to maintain its desired level of grant making.
Details of the Charity’s activity can be found on www.skeltoncharity.com.
2
## **SKELTON BOUNTY**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 5[TH] APRIL 2021**
## **FINANCIAL REVIEW**
Investment income of £104,001 (2020: £118,468) was received during the year. This enabled grants of £87,959 (2020: £101,275) to be made to charities. At 31[st] March 2021 capital investments were valued at £2,989,130 (2020: £2,505,917).
## **Reserves Policy:**
The policy of the Trustees is to hold free reserves of approximately one year’s income in order to protect the Bounty’s ability to continue to make grants in the event of unexpected reductions in income received. In practice, this policy means that the whole of the annual income generated each year, apart from administration costs, is available for distribution in grants in the following year. Any undistributed surpluses are carried forward for use in future years.
At the year end the charity held total funds of £3,153,482 of which £2,989,130 (2020: £2,667,679 of which £2,505,917) are held as permanent endowments funds; the balance held as unrestricted funds and regarded as free reserves was £164,352 (2020: £161,762). The current year’s income was £104,001 (2020: £118,468) which is lower than the level of reserves actually held due to timing differences of payments being made.
## **Investment Policy and Powers:**
The investment policy adopted is in accordance with the schedule to the Scheme for the regulation of The Skelton Bounty made in 1991. The policy is to generate income for the making of grants, while maintaining capital growth to protect the value of the investments in real terms.
## **Risk Management:**
The main risks to which the charity is exposed, as identified by the Trustees, have been considered and systems have been established to mitigate those risks. A detailed process is undertaken by LCVS as the grants administrator to validate applicants and applications for grants.
## **Plans for the Future**
The objectives of the charity remain unchanged for the future; the intention is to continue to steward the charity’s investment assets with the aid of professional fund managers and to continue to use the investment income to assist charities working in the area of benefit. Currently the areas are Lancashire, Greater Manchester, and Merseyside including the unitary areas of Blackburn, Blackpool, Halton, and Warrington.
## **Covid-19**
The Trustees consider that the Covid-19 pandemic may result in a reduction in investment income over the next few years; this would be reflected in reduced amounts for grant-making in future years.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Organisation, Management and Delegation:**
The Trustees meet annually to review the charity’s strategy and performance, consider applications for grants, and monitor the charity’s financial position and investments. The Trustees also meet at other times during the year as necessary. Governance of the charity continued during the ongoing Covid-19 pandemic by periodic virtual meetings of the Trustees as and when required.
3
SKELTON BOUNTY
TRUSTEES. REPORT FOR THE YEAR ENDED 5TH APRIL 2021
The Trustees have delegated the day-l(Hlay administration of grant-making. including r6ceiving and
making preliminary assessments of applications. to LCVS lch is also responsible in the first
instance for maintaining the charity's financial records.
Recruitment and Appointmènt of Nèw Trust•8s:
New trustees are selected by the existing Board of Trustees. on the basis of skills and experience
and to ensure that as a group the Trustees are knowledgeable about the whole of the Bounty's
geographical area of beneffit. The Board is also responsible for the induction and training of the new
trustees. New trustees are appointed. by a resolution of the Trustees passed al a special meeting of
which not less than 21 days, notice has been given, for a term of five years., a trustee reaching the
end of herihis first term can be re-appointed but no trust68 can serve more than Iwo consecutive
terms.
REFERENCE AND ADMINISTRATIVE DETAILS
Skellon Bounty is a registered charity. number 219370, èstablished under a Scheme of the Charity
Commission sealed on 71n March 1991 and amended adminislralively by an Order ofthe Charity
Commission dated 6th February 2004. The Scheme was updated on 8VI July 2018. The 1991
Scheme was made to unite three separale charities. The Charity of Joseph Skellon founded by Will
proved on 13 August 1915, The Charity of Charles Jones Skellon founded by Will proved on 1 $1
February 1927 and The Charity of Ann Skellon founded by Will proved on 22nd June 1931.
The charity uses the working name The Skelton Charity.
Prlnclpal Offlco:
151 Dale Street, Liverpool L2 2AH
Trustees:
The Trustees during the year and up to and including the date of this report were:
Mr D.R Morris OBE, DL (resigned 30th June 20211
Mr R. E Hough CBE, DL
Sir Mark Hedley DL
Mrs E. Conn OBE, JP, DL
Mrs G. S 8ianley MBE, JP. DL
Mrs S. Lomas OBE. DL
Mr C. Hankinson DL
Mrs N. Chaudhry (appoinled 8 July 2021}
Mrs C. Reeves (appointed 8th July 20211
Mr G. Singh MBE, DL lappoinled 8th July 20211
Professlonal Advlsers:
Bankers
Natwest PLC
130 Lord Street.
Southport PR9 OAE
Peter Taaffe FCA CTA DChA
BWM Chartered Accountants
Suite 5.1. 12 Tithebam Street
Liverpool L2 2DT
Independent Examiner
SKELTON BOUNTY
TRUSTEES, REPORT FOR THE YEAR ENDED 5TH APRIL 2021
Accountant &
Administrator
Liverpool Charity and Voluntary SeNices {LCVS)
151 Dale Street,
Liverpool L2 2AH
Trustees, Responslbilities
The Trustees are restM)nsible for pparing the Trustees. Report and the 8ccounts in accordance
with appliGable law and United Kingdom Accounting Standards (United Kingdom Ganerally
Accepted Accounting Praclice).
The law applicable to charities in England and Wales requires the Trustees lo prepare accounts for
èach financial year which give a true and fair view of the slate of affairs of the charity and of the
incoming resources and application of resources of the charity for that year.
In preparing these accounls, the Trustees are required to..
select suitable accounts'ng policies and then apply them consistenUy-
observe Ihe melhods and principles in Ihe Charities SORP:
make ludg8ments and estimates that are reasonab58 arKI prudent:
slate whether applicable accounting star)dards have been follow8d, subject to any mal8rial
departures disclosed and explained in the accounts,. and
prepare the accounts on the going concEm basis unlèss il is inappropriate lo presume that
the charity will continue in operation.
The Trustees are responsible for keeping sufficienl accounting récords that dischjse with
reasonable accuracy al any lime the financial position of the charity and enable them lo
ensure thal the accounts c4)mply with the Charities Act 2011, the Charity (Accounts and
Reporis) Règulations 2008 and the provisions of the trust deed. They are also r8sponsibla
for safeguarding the assets of Ihe charity and henc£ for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
Approved on 8th July 2021 by the Trustees and slgned on thelr behalf by
Slr Mark
Trustee
edley DL
Mr Robert Hough CBE, DL
Trustee
Dated:
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
SKELTON BOUNTY
I report to the Trustees on my examination of the accounts of Skelton Bounty for the year ended 5th
April 2021.
This report Is made solely to the Charitys tnjstees. as a body, in accordance with Section 145 of Ihe
Charities Act 2011. My examination has b8en undertaken so that I might stale to the charitvs
trustees those matters l am required to state to them in an Indep8ndenl Examiner's report and for
no olher puipose. To the fullest extent pemiitted by law. I do nol accepl or assume responsibility to
anyone other than the charity and the charivs trustees as a body, for my examination, for this
report. or for the opinions I have formed.
Rfrsponslbilities and basls of report
As the trustees of Skellon Bounty you are responsible for the preparation of the alnts in
accordance with the requiremenls of the Charities Act 2011 ('Ihe Act,).
I report Sn respect of my examination of the Trust's accounts as carried out under séction 145 of the
2011 Act and in carrying out my examlnalion I have followed all the applicable DireLliuns giveii by
the Charity Commission under sèction 145{5) Ib) of the Act.
Independent examIne$ stat8m6nt
I have comp14t4d my axamination. I confirm that no matters have com• tn my AItAnlinn in
connection with the examination giving me cause to believe thal in any material respect..
1. accounting records were not kept in respect of the Trust as required by sectlon 130 of the
Act., or
2. the accounts do not accord with those records,. or
3. the accounts do nol comply with the accounting requirements conceming the fomi and
content of accounts sel out in the Charities (Accounts and R8POrts) Regulations 2008 other
than any requirement that the accounts give a 'lrue and fair, Mew which is not a matter
considered 88 P8rt of an independent ex8mination.
I have no concerns and have come a0$$ no other matters in nnection with the examination to
which attention should be drawn in this report in order lo enable a proper understanding of the
accounts to be reached.
fts17
Pater Taaffe FCA CTA DChA
BWM
Chartered accountants
Suite 5.1,
12 Tithebam Street
Liverpool L2 2DT
25.01.2022
## **SKELTON BOUNTY**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5[TH] APRIL 2021**
|||**Year to 5th April**|**Year to 5th April**|**2021**|**.**|
|---|---|---|---|---|---|
||||**Permanent**||**Year to**|
|||**Unrestricted**|**Endowment**||**5th April 2020**|
||**Notes Funds**||**Funds**|**Total**|**Total**|
|||**£**|**£**|**£**|**£**|
|**Income and Endowments from:**||||||
|Investments||104,001|-|104,001|
118,468|
|||------------|--------------|--------------|
--------------|
|**Total**||**104,001**|**-**|**104,001**|
**118,468**|
|||------------|--------------|--------------|
--------------|
|**Expenditure on:**||||||
|Charitable activities|3|101,411|-|101,411|
112,129|
|||------------|--------------|--------------|
--------------|
|**Total**||**101,411**|**-**|**101,411**|
**112,129**|
|||------------|--------------|--------------|
--------------|
|**Net income and net movement in**||||||
|**funds before gains/(losses) on**||**2,590**|**-**|**2,590**|
**6,339**|
|**investments**||||||
|**Other recognised gains/(losses)**||||||
|Gains/(losses) on investment assets|4|-|483,213|483,213|
(313,848)|
|||------------|--------------|--------------|
--------------|
|**Net movement in funds**||**2,590**|**483,213**|**485,803**|
**(307,509)**|
|**Reconciliation of funds:**||||||
|Total funds brought forward||161,762|2,505,917|2,667,679|
2,975,188|
|||------------|--------------|--------------|
--------------|
|**Total funds carried forward**|8-10|
**164,352**|**2,989,130**|**3,153,482**|
**2,667,679**|
|||=======|========|========|
========|
The notes on pages 10 to 16 form part of these accounts.
The net movement in funds in the year was derived from the continuing activity of the charity.
These unaudited financial statements have been subjected to independent examination. See report on page 6.
7
## **SKELTON BOUNTY**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5[TH] APRIL 2021**
|**_PRIOR YEAR COMPARISON_**|||||
|---|---|---|---|---|
|||**_Year_**|**_to 5th April 2020._**||
||||**_Permanent_**||
|||**_Unrestricted_**|**_Endowment_**||
||**_Notes Funds_**||**_Funds_**|**_Total_**|
|||**_£_**|**_£_**|**_£_**|
|**_Income and Endowments from:_**|||||
|_Investments_||_118,468_|_-_|_118,468_|
|||_------------_|_----------------_|_----------------_|
|**_Total_**||**_118,468_**|**_-_**|**_118,468_**|
|||_------------_|_----------------_|_----------------_|
|**_Expenditure on:_**|||||
|_Charitable activities_|_3_|_112,129_|_-_|_112,129_|
|||_------------_|_----------------_|_----------------_|
|**_Total_**||**_112,129_**|**_-_**|**_112,129_**|
|||_------------_|_----------------_|_----------------_|
|**_Net income and net movement in_**|||||
|**_funds before losses on_**||**_6,339_**|**_-_**|**_6,339_**|
|**_investments_**|||||
|**_Other recognised losses_**|||||
|_Losses on investment assets_|_4_|_-_|_(313,848)_|
_(313,848)_|
|||_------------_|_----------------_|_----------------_|
|**_Net movement in funds_**||**_6,339_**|**_(313,848)_**|
**_(307,509)_**|
|**_Reconciliation of funds:_**|||||
|_Total funds brought forward_||_155,423_|_2,819,765_|_2,975,188_|
|||_------------_|_----------------_|_----------------_|
|**_Total funds carried forward_**|_8-10_|
**_161,762_**|**_2,505,917_**|**_2,667,679_**|
|||_=======_|_=========_|_=========_|
The notes on pages 10 to 16 form part of these accounts.
The net movement in funds in the year was derived from the continuing activity of the charity.
These unaudited financial statements have been subjected to independent examination. See report on page 6.
8
SKELTON BOUNTY
BALANCE SHEET AS AT 5Th APRIL 2021
At
5th Aprll 2021
At
5" April 202
Notes
Fixed assets..
Fixed asset investments
2,989.130
2,505,917
Total flxed assets
2.989,130
2.505.917
Current assets..
Debtors
Cash balance
12,307
162,437
12,520
158,592
Total current assots
174,744
171,112
Llabilities..
Creditors falling due within on8 year
(10,392)
(9.350)
Net current assots
164,352
161,762
Nat Assets
3,153,482
2,667.679
Th• funds of the charity..
Permanent Endowment Funds
Unrestricted Funds
8.10
9.10
2,989,130
164,352
2,505,917
161,762
3,153,482
2.667,679
Approved
authorlsed for Issue by the Trustees and slgned on thelr behalf by
Sir
Trus
rk Hedley DL
ee
Mr Robert Hough C
Trustee
,DL
Dated:...
Tliese uiiaudile4J Iinancaai Statemenls have svbjeciod to indep8Trdenl examination. See r8fX)rt on pag9 6.
## **SKELTON BOUNTY**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5[TH] APRIL 2021**
## 1. **ACCOUNTING POLICIES**
## _**Basis of Preparation**_
The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) update bulletin 2 (effective 1 January 2019) and Charities Act 2011. The charity is a public benefit entity as defined by FRS102.
The accounts have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The Charity has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
## **Going concern**
The trustees are aware that the Covid-19 pandemic may reduce the amount of investment income available for distribution of grants. The Trustees have prepared financial projections and are satisfied that the charity can continue as a going concern for at least 12 months from the date of approval of these accounts. At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts.
## _**Fund Accounting**_
Permanent Endowment funds are intended to be held in perpetuity. They may be invested, and the income arising from them made available for the Trustees to apply at their discretion in accordance with the charity’s objectives.
Unrestricted funds are the charity’s free reserves available for the Trustees to distribute in accordance with the charity’s charitable objectives.
## _**Investments**_
In accordance with Statement of Recommended Practice: Accounting and Reporting by Charities, charity-specific and listed investments held as fixed assets are stated at market value on a date closest to the accounting period end. Realised and unrealised gains and losses, including the gains and losses on investments held within the charity-specific funds, are dealt with as movements on the Permanent Endowment Fund. Investments are valued at the mid-market price on the valuation date.
## _**Income recognition**_
Investment income is stated on an accruals basis.
These unaudited financial statements have been subjected to independent examination. See report on page 6.
10
**SKELTON BOUNTY**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5[TH] APRIL 2021**
## _**Expenditure recognition**_
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses, including support costs and governance costs, where applicable, are allocated or apportioned between activities depending on the estimated proportion of time attributable to each activity. Support and governance costs are applied to unrestricted funds unless specifically included in the restrictions, as specified by the donor.
Raising funds relates to expenditure on the management of the investments. Charitable activities includes grant funding, along with associated support costs, to beneficiaries. These are dealt with in the Statement of Financial Activities when payment has been approved by the charity. Governance costs relate to compliance with constitutional and statutory requirements and specifically include all costs incurred by the charity in producing the Annual Report.
## **Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
## **Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## **Basic financial assets**
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## **Basic financial liabilities**
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
These unaudited financial statements have been subjected to independent examination. See report on page 6.
11
**NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5[TH] APRIL 2021**
## **SKELTON BOUNTY**
## **Derecognition of financial liabilities**
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## _**Taxation**_
The charity benefits from various exemptions from taxation afforded by tax legislation and is not liable to corporation tax on income or gains falling within those exemptions. The charity is not able to recover Value Added Tax. Expenditure is recorded in the accounts inclusive of VAT.
## 2. **CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## 3. **CHARITABLE ACTIVITIES**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**2021**|**2020**|
||**£**|**£**|
|_Direct charitable expenditure:_|||
|Grant funding|87,959|101,275|
|Grant making administration|7,000|6,250|
||-----------|-----------|
||94,959|107,525|
||-----------|-----------|
|_Support and governance costs:_|||
|Website development|3,060|1,080|
|Trustee meeting|-|424|
|Accountancy|2,000|1,750|
|Independent examination|1,392|1,350|
||-----------|-----------|
||6,452|4,604|
||-----------|-----------|
||**101,411**|**112,129**|
||======|======|
These unaudited financial statements have been subjected to independent examination. See report on page 6.
12
## **SKELTON BOUNTY**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5[TH] APRIL 2021**
During the year the following grants to institutions were made:
**£** Africa Oye 2,500 Age UK Lancashire 2,000 Bolton Deaf Society 1,000 Bolton Lads and Girls Club 2,000 Brunswick Youth and Community Centre 1,000 City of Liverpool Sea Cadets 1,000 Clatterbridge Cancer Charity 1,500 Crawford Village Hall 1,500 Crohns and Colitis UK 1,000 Deysbrook Village Centre 1,500 Dolcorsllwyn Hall Association 1,000 Dovecot and Princess Drive Community Association 2,500 East Liverpool Riding for the Disabled 1,800 Edge Hill Youth and Community Centre 1,500 Elsie’s Moon 1,500 Emerge 3RS 1,500 Everton in the Community 1,000 Farm Urban CIO 1,000 Federation of Jewish Services 1,500 Fifty Three Two 1,800 Food For All 2,000 Good Companions Bolton 1,500 Joseph Lappin Partnership 2,000 Kirkdale Neighbourhood Community Centre 2,000 Lister Steps 1,000 Liverpool Learning Partnership 2,000 Making Space 2,000 Manchester City Galleries Trust 1,500 Marine in the Community 2,000 Marybone Youth and Community Association 1,500 Merseyside Dance Initiative 1,500 Merseyside Jewish Community Care 1,500 Merseyside Play Action Council 2,000 Norris Green Community Alliance 1,000 North West Air Ambulance 1,000 Opportunity Sports Foundation 1,000 Outreach Community & Residential Services 1,500 Porchfield Community Association 1,500 Preston Muslim Forum 1,500 Ready Generations 1,000 Shadow Wind CIC 1,000 ----------62,100
These unaudited financial statements have been subjected to independent examination. See report on page 6.
13
## **SKELTON BOUNTY**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5[TH] APRIL 2021**
_Grants continued….. 62,100_ Shaftesbury Youth Club 1,000 Shrewsbury House 1,000 Skylight Circus in Education 1,000 South West Lancs Independent Community Advice 2,000 Stick n Step 1,500 Tam O’Shanter Urban Cottage Farm Trust 1,500 Team Oasis 1,800 Tuebrook Hope Group 1,000 Vee’s Place 1,000 Walton Lea Partnership 2,000 Wave Adventure 1,500 Whitechapel Centre 2,000 Wirral Mencap 1,000 Woodlands Hospice 1,300 Yellow House 1,500 ---------83,200 Other grants 4,759 ---------- **87,959**
|4.|**FIXED ASSET INVESTMENTS**|||
|---|---|---|---|
|||**2021**|**2020**|
|||**£**|**£**|
||**Charity-specific Investments:**|||
||Market value at 6thApril|2,505,917|2,819,765|
||Unrealised gains/(losses) on investment assets|483,213|(313,848)|
|||--------------|--------------|
||**Market value at 5th April**|**2,989,130**|**2,505,917**|
|||========|========|
||**Historic cost at 5th April**|**939,705**|**939,705**|
|||=======|=======|
The Charity holds 43.62% (2020: 43.26%) of its fixed asset investments in The Equities Investment Fund for Charities (Charifund) and The Charities Fixed Interest Common Investment Fund (Charibond) managed by M&G Investments, Charities Division on behalf of M&G Securities Limited.
At 5[th] April 2021 the charity held 79,269 units of Charifund with a price of 1,472.41 pence per unit (2020: 79,269 units with a price of 1,195.47 pence per unit) and 110,680 units of Charibond with a price of 123.52 pence per unit (2020: 110,680 units with a price of 123.19 pence per unit).
These unaudited financial statements have been subjected to independent examination. See report on page 6.
14
## **SKELTON BOUNTY**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5[TH] APRIL 2021**
The remaining 56.38% (2020: 56.74%) of the charity’s fixed asset investments are held in COIF Charities Investment Fund and COIF Charities Fixed Interest Fund, constituent funds of COIF Charity Funds which are managed by CCLA Investment Management Limited and registered with the Charity Commission.
At 5[th] April 2021 the charity held 86,386 units of COIF Charities Investment Fund with a price of 1,792.64 pence per unit (2020: 86,386 units with a price of 1,485.64 pence per unit) and 101,409 units, with a price of 134.76 pence per unit, of COIF Charities Fixed Interest Fund (2020: 101,409 units, with a price of 136.62 pence per unit).
|5.|**DEBTORS**|||
|---|---|---|---|
|||**2021**|**2020**|
||Accrued income|**£12,307**|**£12,520**|
|||======|======|
|6.|**CREDITORS**|||
|||**2021**|**2020**|
|||**£**|**£**|
||Administration|9,000|8,000|
||Independent examination fee|1,392|1,350|
|||---------|---------|
|||**10,392**|**9,350**|
|||=====|=====|
|7.|**FINANCIAL INSTRUMENTS**|||
|||**2021**|**2020**|
|||**£**|**£**|
||Carrying amount of financial assets:|||
||Debt instruments measured at cost|174,744|171,112|
||Equity instruments measured at fair value through|||
||income and expenditure|2,989,130|2,505,917|
||Carrying amount of financial liabilities:|||
||Measured at cost|10,392|9,350|
## 8. **PERMANENT ENDOWMENT FUNDS**
These funds are held for the purposes of providing annual income for grant making.
## 9. **UNRESTRICTED FUNDS**
Investment income received to fund grant payments and costs incurred in the administration of the Charity.
These unaudited financial statements have been subjected to independent examination. See report on page 6.
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## **SKELTON BOUNTY**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5[TH] APRIL 2021**
## 10. **ANALYSIS OF NET ASSETS BETWEEN FUNDS**
||**Fixed Asset**|**Current**|**Current**||
|---|---|---|---|---|
||**Investments**|**Assets**|**Liabilities**|**Total**|
||**£**|**£**|**£**|**£**|
|Unrestricted Funds|-|174,744|(10,392)|164,352|
|Permanent Endowment Funds|2,989,130|-|-|2,989,130|
||--------------|------------|----------|--------------|
||**2,989,130**|**174,744**|**(10,392)**|**3,153,482**|
||========|=======|======|========|
## 11. **RELATED PARTIES**
No trustee received remuneration or was reimbursed expenses during the year (2020: None). No other transactions have been undertaken by or on behalf of the charity in which a Trustee or connected person has a material interest.
These unaudited financial statements have been subjected to independent examination. See report on page 6.
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