## **DRAYTON PAROCHIAL CHARITIES**
## **ACCOUNTS**
**FOR THE YEAR ENDED 31 DECEMBER 2020**
**REGISTERED CHARITY NO: 221225**
## **DRAYTON PAROCHIAL CHARITIES INDEX TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020**
Pages
1-2 Report of the Trustees
3 Independent Examiners Report 4 Receipts and Payments Account 5 Receipts and Payments (Non Housing Activity) 6 Statement of Assets and Liabilities
7-12 Notes to the Accounts
## **DRAYTON PAROCHIAL CHARITIES REPORT OF THE TRUSTEES YEAR ENDED 31 DECEMBER 2020**
The Trustees have pleasure in presenting their report and accounts for the year ended 31 December 2020
## **Activities**
Drayton Parochial Charities was established on 5 December 1977 under the Charities Act 1960.
The deed joined the charity of Robert Corneville and four charities administered together as the Drayton Almshouse Charity. The deed stated that the income of the charity of Robert Corneville is to be applied by the trustees for any charitable purposes for the general benefit of the inhabitants of the Parish of Drayton for which provision is not made out of council tax, taxers or other public funds. The income of the Drayton Almshouse Charity is to be applied by the trustees for the benefit of the charity.
## **Review of the year**
## **Drayton Almshouse Charity**
1. With the exception of a few weeks at the beginning of the year when one property was unoccupied, all of the Almshouses were occupied throughout the year.
11
2. We continued to subscribe to The Almshouse Association and Independent Housing Ombudsman Limited.
3. Repayments 19 and 20 were made against the £15,000 loan from The Almshouse Association, the loan has now been repaid in full, but as the standing orders were not cancelled, the account is currently overpaid, now refunded.
4. We renewed the concessionary TV licence for those beneficiaries covered.
## **Extraordinary Repair Fund**
The Extarordinary Repair Fund (ERF) is invested with Blackrock, Charities UK Bond Fund and Charities Equity Fund (formerly Charinco and Charinshare investments). The income is accumulated, and 2020 Accounts include the accumulated income for that year. The income has been added to the original cost of the investments as per note 7.
## **Robert Corneville Charity**
No grants were made during the year.
## **Public Benefit**
The trustees confirm that they have had due regard to the guidance published by the Charity Commission on public benefit.
Page 1
## **DRAYTON PAROCHIAL CHARITIES REPORT OF THE TRUSTEES (CONTINUED) YEAR ENDED 31 DECEMBER 2020**
## **Trustees’ Responsibilities**
Registered social housing legislation requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Registered Social Landlord as at the balance sheet date and of the surplus or deficit for that period. In preparing these financial statements the Trustees are required to :
- Select suitable accounting policies and then apply them consistently;
- Make judgements and estimates that are reasonable and prudent;
- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Registered Social Landlord will continue in business.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Registered Social Landlord and enable it to ensure that the financial statements comply with Schedule 1 to the Housing Act 1996, the Accounting Requirements for Registered Social Landlords General Determination 2006 and the Statement of Recommended Practice ‘Accounting by Registered Social Landlords’. It has general responsibility for taking reasonable steps to safeguard the assets of the Registered Social Landlord and to prevent and detect fraud and other irregularities.
## **Bankers**
Barclays Bank plc Abingdon Oxon
## **Trustees**
The Trustees during the year were:
Mrs Sue Moore - Chair Mrs Lynn Jones - Treasurer Mrs Camilla King – Clerk to the Trustees Mrs Brenda Malin Mrs Catherine Webber
## **BY ORDER OF THE TRUSTEES**
## **L A Jones - Treasurer**
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li
Page2
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DRAYTON PAROCHIAL CHARITIES ON THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020 CHARITY NUMBER 221225**
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (“the Act”).
The charity’s trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
- to follow the applicable Directions given by the Charity Commission
(under section 145(5)(b) of the Act, and
- to state 11
## **Basis of independent examiner’s statement**
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
- the accounts did not comply with the applicable requirements concerning the form and
- content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed BA FCA Date Name M Webster Address 6 Newman Lane Drayton Oxon OX14 4LP
Page 3
## **DRAYTON PAROCHIAL CHARITIES RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2020**
|**Note**
**£**
**_£_**
**TURNOVER From Lettings**
Contributions receivable from occupants of
Almshouses
30,112
_28,508_
For the year ended 31 December 2020
30,112
_28,508_
**Operating Costs**
Water Rates
985
_574_
Management Expenses
3
1,748
_1,797_
Repairs Major Works
3
14,319
_-_
11
3
2,061 19,113
_10,555_
_12,926_
**OPERATING SURPLUS**
Continuing operations
10,998
_15,582_
Interest receivable and similar income
41
_80_
Accumulated Income on Investments
Blackrock Charities UK Bond Fund Acc Units
7
1,351
_1,678_
Blackrock Charities UK Equity Fund Acc Units
7
2,2813,632
_3,521_
_5,199_
Interest payable and similar charges
(2,135)
_( 2,155)_
**SURPLUS ON ORDINARY ACTIVITIES**
12,537
_18,706_
Transfer to designated reserves
11
( 41)
_( 80)_
Transfer to Extraordinary Repair Fund
11
( 3,632)
_( 5,199)_
Transfer to Robert Corneville Charity
12
( 83)
_( 59)_
8,781
_13,368_
Revenue reserve brought forward
124,395
_111,027_
**Revenue reserve carried forward**
133,176
_124,395_
**2020**
**_2019_**|**Note**
**£**
**_£_**
**TURNOVER From Lettings**
Contributions receivable from occupants of
Almshouses
30,112
_28,508_
For the year ended 31 December 2020
30,112
_28,508_
**Operating Costs**
Water Rates
985
_574_
Management Expenses
3
1,748
_1,797_
Repairs Major Works
3
14,319
_-_
11
3
2,061 19,113
_10,555_
_12,926_
**OPERATING SURPLUS**
Continuing operations
10,998
_15,582_
Interest receivable and similar income
41
_80_
Accumulated Income on Investments
Blackrock Charities UK Bond Fund Acc Units
7
1,351
_1,678_
Blackrock Charities UK Equity Fund Acc Units
7
2,2813,632
_3,521_
_5,199_
Interest payable and similar charges
(2,135)
_( 2,155)_
**SURPLUS ON ORDINARY ACTIVITIES**
12,537
_18,706_
Transfer to designated reserves
11
( 41)
_( 80)_
Transfer to Extraordinary Repair Fund
11
( 3,632)
_( 5,199)_
Transfer to Robert Corneville Charity
12
( 83)
_( 59)_
8,781
_13,368_
Revenue reserve brought forward
124,395
_111,027_
**Revenue reserve carried forward**
133,176
_124,395_
**2020**
**_2019_**|**Note**
**£**
**_£_**
**TURNOVER From Lettings**
Contributions receivable from occupants of
Almshouses
30,112
_28,508_
For the year ended 31 December 2020
30,112
_28,508_
**Operating Costs**
Water Rates
985
_574_
Management Expenses
3
1,748
_1,797_
Repairs Major Works
3
14,319
_-_
11
3
2,061 19,113
_10,555_
_12,926_
**OPERATING SURPLUS**
Continuing operations
10,998
_15,582_
Interest receivable and similar income
41
_80_
Accumulated Income on Investments
Blackrock Charities UK Bond Fund Acc Units
7
1,351
_1,678_
Blackrock Charities UK Equity Fund Acc Units
7
2,2813,632
_3,521_
_5,199_
Interest payable and similar charges
(2,135)
_( 2,155)_
**SURPLUS ON ORDINARY ACTIVITIES**
12,537
_18,706_
Transfer to designated reserves
11
( 41)
_( 80)_
Transfer to Extraordinary Repair Fund
11
( 3,632)
_( 5,199)_
Transfer to Robert Corneville Charity
12
( 83)
_( 59)_
8,781
_13,368_
Revenue reserve brought forward
124,395
_111,027_
**Revenue reserve carried forward**
133,176
_124,395_
**2020**
**_2019_**|
|---|---|---|
|||_28,508_
_12,926_|
|||_15,582_
_80_
_5,199_
_( 2,155)_|
|||_18,706_
_( 80)_
_( 5,199)_
_( 59)_|
||8,781
124,395
133,176|_13,368_
_111,027_|
|||_124,395_|
There are no recognised surpluses or deficits other than the surplus for the year. The above surplus is the historical cost surplus.
Page 4
## **DRAYTON PAROCHIAL CHARITIES RECEIPTS AND PAYMENTS ACCOUNT (NON HOUSING ACTIVITIES) FOR THE YEAR ENDED 31 DECEMBER 2020**
|**Note**
**£**
**_£_**
**Dividends on investments**
Charities UK Bond Fund (formerly Charinco)
1,351
_1,678_
Charities Equity Fund (formerly Charinshare)
2,281
_3,521_
**Net Surplus for the year**
11
3,632
_5,199_
**Corneville Charity**
**Dividends on investments**
Charities UK Bond Fund (formerly Charinco)
196
_248_
Charities Equity Fund (formerly Charinshare)
1,083
_1,437_
1,279
_1,685_
Interest on bank ordinary deposit and capital reserve accounts
21
_38_
1,300
_1,723_
**Less**
Grants
-
_-_
Management Expenses
83
( 83)
_59_
_( 59)_
1,217
_1,664_
Transfer from Receipts and Payments Account
83
_59_
**Net Surplus for the year**
12
1,300
_1,723_
**Extraordinary Repair Fund**
**2020**
**_2019_**
**2020**
**_2019_**|**Note**
**£**
**_£_**
**Dividends on investments**
Charities UK Bond Fund (formerly Charinco)
1,351
_1,678_
Charities Equity Fund (formerly Charinshare)
2,281
_3,521_
**Net Surplus for the year**
11
3,632
_5,199_
**Corneville Charity**
**Dividends on investments**
Charities UK Bond Fund (formerly Charinco)
196
_248_
Charities Equity Fund (formerly Charinshare)
1,083
_1,437_
1,279
_1,685_
Interest on bank ordinary deposit and capital reserve accounts
21
_38_
1,300
_1,723_
**Less**
Grants
-
_-_
Management Expenses
83
( 83)
_59_
_( 59)_
1,217
_1,664_
Transfer from Receipts and Payments Account
83
_59_
**Net Surplus for the year**
12
1,300
_1,723_
**Extraordinary Repair Fund**
**2020**
**_2019_**
**2020**
**_2019_**|**Note**
**£**
**_£_**
**Dividends on investments**
Charities UK Bond Fund (formerly Charinco)
1,351
_1,678_
Charities Equity Fund (formerly Charinshare)
2,281
_3,521_
**Net Surplus for the year**
11
3,632
_5,199_
**Corneville Charity**
**Dividends on investments**
Charities UK Bond Fund (formerly Charinco)
196
_248_
Charities Equity Fund (formerly Charinshare)
1,083
_1,437_
1,279
_1,685_
Interest on bank ordinary deposit and capital reserve accounts
21
_38_
1,300
_1,723_
**Less**
Grants
-
_-_
Management Expenses
83
( 83)
_59_
_( 59)_
1,217
_1,664_
Transfer from Receipts and Payments Account
83
_59_
**Net Surplus for the year**
12
1,300
_1,723_
**Extraordinary Repair Fund**
**2020**
**_2019_**
**2020**
**_2019_**|**Note**
**£**
**_£_**
**Dividends on investments**
Charities UK Bond Fund (formerly Charinco)
1,351
_1,678_
Charities Equity Fund (formerly Charinshare)
2,281
_3,521_
**Net Surplus for the year**
11
3,632
_5,199_
**Corneville Charity**
**Dividends on investments**
Charities UK Bond Fund (formerly Charinco)
196
_248_
Charities Equity Fund (formerly Charinshare)
1,083
_1,437_
1,279
_1,685_
Interest on bank ordinary deposit and capital reserve accounts
21
_38_
1,300
_1,723_
**Less**
Grants
-
_-_
Management Expenses
83
( 83)
_59_
_( 59)_
1,217
_1,664_
Transfer from Receipts and Payments Account
83
_59_
**Net Surplus for the year**
12
1,300
_1,723_
**Extraordinary Repair Fund**
**2020**
**_2019_**
**2020**
**_2019_**|
|---|---|---|---|
||||_1,685_
_38_|
||||_1,723_
_( 59)_|
|||1,217
83
1,300|_1,664_
_59_|
||||_1,723_|
Page 5
## **DRAYTON PAROCHIAL CHARITIES**
## **STATEMENT OF ASSETS AND LIABILITIES AS AT 31 DECEMBER 2020**
||||**2020**|**2020**||**_2019_**|**_2019_**||
|---|---|---|---|---|---|---|---|---|
||||**£**||**£**|**_£_**||**_£_**|
|**FIXED ASSETS**|||||||||
|**Tangible assets**|||||||||
|Housing Properties||6||**110,174**||||_110,174_|
|**Less**Housing Association Grant||10||**(**|**89,400)**||_(_|_89,400)_|
||||||**20,774**|||_20,774_|
|**Investments**|Repair Fund|7
|128,518|||121,886|||
||11|8
|14,707|143,225||14,707|136,593||
||||||||||
||||||**163,999**|||_157,367_|
|**CURRENT ASSETS**|||||||||
|Cash at Bank|Community||**28,692**|||_29,750_|||
||Deposit (Cyclical Provision)||**19,134**|||_14,092_|||
||Deposit (Corneville Charity)||**9,139**|||7,839|||
||Owed by resident||**94**||||-||
||Almshouse loan refund due|10
|**1,575**||||-||
||||**58,634**|||51,681|||
|**LIABILITIES: Amounts falling due within one year**||9
|**193**|||_169_|||
|**NET CURRENT ASSETS**|||||**58,441**|||_51,512_|
|**TOTAL ASSETS LESS CURRENT LIABILITIES**|||||**222,440**|||_208,879_|
|**LIABILITIES:Amounts falling due after more**||10||**(**|**15,640)**||_(_|_15,833)_|
||**than one year**||||||||
|**NET ASSETS**|||||**206,800**|||_193,046_|
|**CAPITAL AND RESERVES**|||||||||
|Designated Reserves||11|||**49,600**|||_45,927_|
|Revenue reserve - housing activities|||||**133,176**|||_124,395_|
|Special Reserve - non|housing activities|12|||**24,024**|||_22,724_|
||||||**206,800**|||_193,046_|
Approved and authorised by the Trustees on
Mrs L A Jones-Treasurer
Mrs S Moore - Chair
Mrs C King - Secretary
on behalf of the trustees
Page 6
## **DRAYTON PAROCHIAL CHARITIES REPORT OF THE TRUSTEES (CONTINUED) YEAR ENDED 31 DECEMBER 2020**
## **Accounting Policies**
## **(a) Introduction and Accounting Basis**
The principal accounting policies of the Association are set out in paragraphs (b) to (j) below. These accounts are prepared under the historical cost convention, are based on the Housing Corporation’s Statement of Recommended Practice for Registered Social Landlords and comply with the Accounting Requirements for Registered Social Landlords General Determination 2006. The exemption from preparing a Cash Flow Statement to comply with FRS1 has been used on the grounds that the charity is a small charity.
## **(b) Finance**
The accounts have been prepared on the basis that the capital expenditure referred to in note 6 will be grant aided, funded by loan or met out of reserves. There was no additional Capital Expenditure this year.
## **(c) Mortgages**
Mortgage loans are advanced by the Housing Corporation under the terms of a mortgage deed in respect of a housing scheme.
Advances are available only in respect of a development which has been given approval for housing association grant.
## **(d) Housing Association Grant (HAG)**
The above grant made by the Department of the Environment is utilised to reduce the amount of mortgage loan in respect of an approved scheme to the amount which it is estimated can be serviced by the costs of the scheme in accordance with instructions issued from time to time by the Department of the Environment. The grants are paid directly to the Housing Corporation being the lending authority and are reflected in the accounts of the Association only when payment has been made and the relevant mortgage loan reduced.
## **(e) Housing Association Grant – Acquisition and Development Allowances Receivable**
The above allowances are determined by the Department of Environment and are advanced as mortgage loans. They are to finance certain internal administrative costs relating to the acquisition and development of housing land and buildings for approved schemes. Amounts equal to these allowances are added to housing land and buildings and are released to income and expenditure account when they are receivable.
## **(f) Fixed Assets – Housing Land and Buildings**
Housing properties are stated at cost. The development cost of housing properties includes the following:-
- (i) Development expenditure
- (ii) Interest charged on the mortgage loans raised to finance the scheme
- (iii) Amounts equal to acquisition and development allowances receivable.
Page 7
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Page 7
## **DRAYTON PAROCHIAL CHARITIES REPORT OF THE TRUSTEES (CONTINUED) YEAR ENDED 31 DECEMBER 2020**
## **Accounting Policies (continued)**
## **(f) Fixed Assets – Housing Land and Buildings (continued)**
These costs are either termed “Qualifying costs” by the Department of the Environment for an approved housing association grant scheme and are considered for mortgage loans by the Housing Corporation or are met out of the Association’s Reserves.
All invoices relating to capital expenditure arising in the year for which mortgage advances have been received in the year have been included.
Interest on the mortgage loan financing the development is capitalised up to the relevant date of the interim HAG application. Interest on the residual mortgage loan after this date is charged to income and expenditure account. Interest on advances made after the interim HAG application are capitalised up to the final relevant date of the scheme. Interim and final relevant dates are determined by the Department of the Environment in accordance with guidelines laid down in circulars.
## **(g) Depreciation – Housing Land and Buildings**
Freehold property is not depreciated on the basis that it is maintained in a satisfactory state of repair and the relevant cost of repair is charged to the income and expenditure account.
The freehold property has been assessed to have a high residual value and as such any depreciation charge would not be material.
## **(h) Provision for Future Cyclical Repairs and Maintenance**
The provision reflects the Association’s liability to maintain its properties in accordance with a planned programme of works. Decorating is planned to take place every five years or when a property is vacated if earlier.
## **(i) Special Reserve (Non-Housing Activities)**
The special reserve arises from the income of the Corneville Charity and the funds in the reserve are only available for charitable purposes for the general benefit of the inhabitants of the Parish of Drayton for which provision is not made out of council tax, taxes or other public funds.
## **(j) Apportionment of Management Expenses**
Administration and operating costs are allocated 90% to income and expenditure account (housing activities) in respect of the costs relating to the management and maintenance of housing accommodation for letting, and 10% to the Corneville Charity.
Page 8
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Page 8
## **DRAYTON PAROCHIAL CHARITIES NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **2 Turnover, and Operating Surplus**
|**2020**
**_2019_**
**£**
**_£_**
Social housing accomodation
Turnover
30,112
_28,508_
Operating Costs
( 19,113)
_( 12,926)_
11
Operating Surplus
10,999
_15,582_
Interest receivable and similar income
41
_80_
Accumulated investment Income
3,632
_5,199_
Interest payable and similar charges
( 2,135)
_( 2,155)_
(Deficit)/Surplus for the year
12,537
18,706
**Operating costs from lettings**
**Housing accomodation (6 Units)**
Water Services and Council Tax
985
_574_
Major Works Expenses
14,319
_-_
Management Expenses (see note 3)
1,748
_1,797_
Current cyclical repairs and maintenance
2,061
_10,555_
19,113
_12,926_
**Management Expenses**
**Housing**
**Repairs &**
**Repairs**
**Maintenance Corneville**
**Finance &**
**Total**
**_Total_**
**Management Day to Day**
**Major**
**works**
**Other**
**Admin**
**Admin**
**2020**
**_2019_**
**Estate Costs**
Insurance
951
- - -
-
-
951
_915_
Garden Maintenance
- - - 214
-
-
214
_148_
Lighting and Heating
- 120
- -
-
-
120
_298_
TV Licence
-
- - -
-
-
-
_-_
Repairs and Maintenance
-
610
- -
-
-
610
_7,097_
Repairs Major Works
-
14,319
-
-
-
14,319
-
Cyclical
- 1,117
- -
-
-
1,117
_3,012_
**Office Overheads**
Subscriptions
- - - - -
661
661
_308_
Sundries
- - - - -
171
171
_283_
Legal and Professional
- - - - -
48
48
_350_
951
1,847
14,319
214
- 880 18,211
_12,411_
Apportionment of finance and
administration expenditure
797
- - -
83
( 880)
-
_-_
Total Expenditure
1,748
1,847
14,319
214
83
-
18,211_12,411_|**2020**
**_2019_**
**£**
**_£_**
Social housing accomodation
Turnover
30,112
_28,508_
Operating Costs
( 19,113)
_( 12,926)_
11
Operating Surplus
10,999
_15,582_
Interest receivable and similar income
41
_80_
Accumulated investment Income
3,632
_5,199_
Interest payable and similar charges
( 2,135)
_( 2,155)_
(Deficit)/Surplus for the year
12,537
18,706
**Operating costs from lettings**
**Housing accomodation (6 Units)**
Water Services and Council Tax
985
_574_
Major Works Expenses
14,319
_-_
Management Expenses (see note 3)
1,748
_1,797_
Current cyclical repairs and maintenance
2,061
_10,555_
19,113
_12,926_
**Management Expenses**
**Housing**
**Repairs &**
**Repairs**
**Maintenance Corneville**
**Finance &**
**Total**
**_Total_**
**Management Day to Day**
**Major**
**works**
**Other**
**Admin**
**Admin**
**2020**
**_2019_**
**Estate Costs**
Insurance
951
- - -
-
-
951
_915_
Garden Maintenance
- - - 214
-
-
214
_148_
Lighting and Heating
- 120
- -
-
-
120
_298_
TV Licence
-
- - -
-
-
-
_-_
Repairs and Maintenance
-
610
- -
-
-
610
_7,097_
Repairs Major Works
-
14,319
-
-
-
14,319
-
Cyclical
- 1,117
- -
-
-
1,117
_3,012_
**Office Overheads**
Subscriptions
- - - - -
661
661
_308_
Sundries
- - - - -
171
171
_283_
Legal and Professional
- - - - -
48
48
_350_
951
1,847
14,319
214
- 880 18,211
_12,411_
Apportionment of finance and
administration expenditure
797
- - -
83
( 880)
-
_-_
Total Expenditure
1,748
1,847
14,319
214
83
-
18,211_12,411_|**2020**
**_2019_**
**£**
**_£_**
30,112
_28,508_
( 19,113)
_( 12,926)_
10,999
_15,582_
41
_80_
3,632
_5,199_
( 2,135)
_( 2,155)_
12,537
18,706
985
_574_
14,319
_-_
1,748
_1,797_
2,061
_10,555_
19,113
_12,926_
**e Corneville**
**Finance &**
**Total**
**_Total_**
**Admin**
**Admin**
**2020**
**_2019_**
-
-
951
_915_
-
-
214
_148_
-
-
120
_298_
-
-
-
_-_
-
-
610
_7,097_
-
-
14,319
-
-
-
1,117
_3,012_
-
661
661
_308_
-
171
171
_283_
-
48
48
_350_|
|---|---|---|
||951
1,847
14,319
214
797
- - -|- 880 18,211
_12,411_
83
( 880)
-
_-_|
||1,748
1,847
14,319
214
83
-
18,211_12,411_||
## **3 Management Expenses**
Page 9
## **DRAYTON PAROCHIAL CHARITIES NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **4 Employees, Payments to Trustees and Officers**
There were no employees, and the only transactions with Trustees were the reimbursement of expenses incurred in the normal day to day running of the charity.
## **5 Housing Stock**
The number of units of housing accomodation in management at 31 December 2020
|||11|||
|---|---|---|---|---|
||||**Units in Management**||
||||**2020**|**2019**|
||Housing accomodation for letting||6|6|
|**6 **|**Fixed Assets-Housing Land and Buildings**||**2020**|**2019**|
||||**£**|**£**|
||**Cost**||||
||At the beginning of the year||**110,174**|**110,174**|
||At the end of the year||110,174|110,174|
Note: No cost is included for the land referred to above and which was acquired many years ago.
Page 10
## **DRAYTON PAROCHIAL CHARITIES NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
|7 Investments - Extraordinary Repair Fund
**2020**
**2019**
£
£
Blackrock Charities UK Bond Fund (formerly Charinco)
796.685 (2019: 796.685) Accumulation Shares
38,881
37,203
Accumulated income
1,351
1,678
Investment in year-27.845 units
1,500
-
Balance as at 31 December 2020
41,732
38,881
Blackrock Charities UK Equity Fund (formerly Charishare)
11.00
83,005
79,484
Accumulated income
2,281
3,521
Investnment in year-79.156 units
1,500
-
Balance as at 31 December 2020
86,786
83,005
Total per Accounts as at 31 December 2020
128,518
121,886
8 Investments - Corneville Charity
**2020**
**2019**
£
£
Blackrock Charities UK Bond Fund (formerly Charinco)
3,099.24 (2019: 3,099.24) Income Units
-
-
Blackrock Charities UK Equity Fund (formerly Charishare)
7,600.568 (2019: 7,600.568) Income Units
14,707
14,707
14,707
14,707
**9**
Mortgage Orchardbrook PLC
Other Loan - Almshouse Association
**10 Liabilities - Amounts falling due after more than one year**
**Housing Loans**
Loan repayable after one year advanced by
Mortgage Orchardbrook PLC
**Liabilities-amounts falling due within one year**
Cost
Cost|**2020**
**2019**
£
£
38,881
37,203
1,351
1,678
1,500
-
Cost|**2020**
**2019**
£
£
45,341
41,021
127,158
131,230
Market Value|
|---|---|---|
||41,732
38,881||
||86,786
83,005||
||128,518
121,886||
|||172,499
172,251|
||**2020**
**2019**
£
£
-
-
14,707
14,707
Cost|**2020**
**2019**
£
£
6,106
5,907
49,062
52,581
Market Value|
||14,707
14,707|55,167
58,488|
|||**2020**
**_2019_**
**£**
**_£_**
193
_169_
-
_0_|
|||£193
_169_|
|||**2020**
**2019**
**£**
**_£_**
£ 15,640_£ 15,833_|
## **Housing Loans**
This is the balance outstanding on the residual loan and it is repayable by half yearly annuities of principal and interest the last of which falls to be paid on 31 March 2040. The loan bears interest at 13.375%. This loan cannot be repaid early as terms were agreed subject to the Charity's receipt of a grant of £89,400 from the Housing Association.
The loan is secured by a first legal charge over the properties concerned.
## **Other Loans**
Other loans relates to a loan from the Almshouse Association taken out in 2009. The loan is repayable by half yearly instalments over 10 years, the last of which was paid in September 2019, but repayments continued in error, leaving the account overpaid.
Page 11
## **DRAYTON PAROCHIAL CHARITIES NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
|11 **Designated Reserves**
At 1 January 2020
Transfer from revenue reserve
At 31 December 2020
11|**Cyclical Repair**
**Extraordinary**
**Total**
**& Maintenance**
**Repair Fund**
**£**
**£**
**£**
3,246
42,681
45,927
41
3,632
3,673|
|---|---|
||3,287
46,313
49,600|
|||
The cyclical repair and maintenance fund and extraordinary repair fund reflect the charity's liability to maintain its properties in accordance with a planned programme of works and provide for possible large one off repairs.
## **12 Special Reserves - non housing activities (charitable purposes)**
|At 1 January 2020
Income and expenditure account for the year
Transfer from revenue reserves
At 31 December 2020|**2020**
**_2019_**
**£**
**£**
22,724 21,001
1,217 1,664
83 59|
|---|---|
||24,024 22,724|
This reserve is the accumulated surplus of income of the Corneville Charity
- **13** Drayton Parochial Charities was established on 5 December 1977 under the Charities Act 1960.
The deed joined the charity of Robert Corneville and four charities administered together as the Drayton Almshouse Charity. The deed stated that the income of the charity of Robert Corneville is to be applied by the trustees for any charitable purposes for the general benefit of the inhabitants of the Parish of Drayton for which provision is not made out of council tax, taxes or other public funds. The income of the Drayton Almshouse Charity is to be applied by the trustees for the benefit of the charity.
Page 12