Charity number: 223491
ELTHAM UNITED CHARITIES
UNAUDITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
ELTHAM UNITED CHARITIES
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 20 |
ELTHAM UNITED CHARITIES
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021
| Trustees | Mr P H T Noble (deceased 10 December 2021) |
|---|---|
| Dr N B A Chase | |
| Dr J Brett | |
| Mr R J Chichester | |
| Mrs A J Grant | |
| Mr P Sowden | |
| Cllr S Drury | |
| Dr M Demetriou | |
| Mrs V Lazellari (appointed 15 November 2021) | |
| Dr M Mather (appointed 24 January 2022) |
| Charity registered | |
|---|---|
| number | 223491 |
| Principal office | Trinity House |
| 3 Bullace Lane | |
| Dartford | |
| Kent | |
| DA1 1BB |
Page 1
ELTHAM UNITED CHARITIES
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2021
The Trustees present their annual report together with the financial statements of the Eltham United charities for the 1 January 2021 to 31 December 2021.
Objectives and activities
Policies and objectives
The charity's activities is the housing and welfare of individuals who on retirement find it financially and socially difficult to live on their reduced income.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Achievements and performance
Key performance indicators
The income is reviewed to ensure the assets are appropriately invested.
Review of activities
The charity's activities remained unaltered during 2021, its priority being the housing and welfare of individuals who on retirement find it financially and socially difficult to live on their reduced income. The almshouse has twenty units for occupation one of which is a guest room. There is a continuous policy of repair. During the year a further three units became empty, all of which are under refurbishment. The three flats vacated in the previous year have now been refurbished and have almspeople appointed to them. The charity's overall objectives have again been successfully implemented and there is a strong community spirit amongst the almspeople well supported by the Trustees and the Manager.
Financial review
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Structure, governance and management
Constitution
Eltham United Charities is a registered charity, number 223491, and is constituted under a Trust deed. The principal object of the charity is to provide free accommodation for retired persons on restricted income who reside in the parish of Eltham and Mottingham.
Methods of appointment or election of Trustees
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed dated 9th July 1907 and subsequent amendments.
Page 2
ELTHAM UNITED CHARITIES
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
Structure, governance and management (continued)
Organisational structure and decision-making policies
The day to day management is performed by the on site Manager and the financial management is administered by the Clerk in conjunction with the Trustees. On average the Trustees meet every two months.
Whilst the lockdown restrictions caused by Covid 19 continue the Trustees agreed face to face meetings cannot be held but that such meetings can be held online, by telephone or other digital systems. However following the lifting of restrictions, as from 23rd August 2021 the Trustees have agreed to resume having their meetings in the Trustees' room at Fifteenpenny Fields.
Plans for future periods
The Trustees aim is for the charity to continue the maintenance of the almshouse and to maximise occupancy of the units. In addition the Trustees are reviewing the property portfolio and to refurbish where necessary so that the income stream is maintained.
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ Mr P Sowden
................................................ Mrs A J Grant
Date: 15 August 2022
Page 3
ELTHAM UNITED CHARITIES
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2021
Independent Examiner's Report to the Trustees of Eltham United charities ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2021.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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 (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
-
the accounts do not accord with those records; or
-
the accounts do 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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 9 September 2022 Richard Teare FCA
Rich T Management Limited 18 Royal Swan Quarter Leret Way Leatherhead KT22 7JL
Page 4
ELTHAM UNITED CHARITIES
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| Note Income and endowments from: Donations and legacies 3 Investments 4 Other income 5 Total income and endowments Expenditure on: Raising funds 6 Charitable activities 7 Total expenditure Net income before net gains on investments Net gains on investments 17 Net income Transfers between funds 17 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Endowment funds 2021 £ - 85,252 - 85,252 5,356 6,186 11,542 73,710 803,671 877,381 (30,078) 847,303 9,443,116 847,303 10,290,419 |
Restricted funds 2021 £ - - - - - - - - - - - - 4,833 - 4,833 |
Unrestricted funds 2021 £ 200 130,649 - 130,849 11,962 88,826 100,788 30,061 96,522 126,583 30,078 156,661 915,010 156,661 1,071,671 |
Total funds 2021 £ 200 215,901 - 216,101 17,318 95,012 112,330 103,771 900,193 1,003,964 - 1,003,964 10,362,959 1,003,964 11,366,923 |
Total funds 2020 £ 25 212,744 117 |
|---|---|---|---|---|---|
| 212,886 | |||||
| 30,990 90,558 |
|||||
| 121,548 | |||||
| 91,338 284,797 |
|||||
| 376,135 - |
|||||
| 376,135 | |||||
| 9,986,824 376,135 |
|||||
| 10,362,959 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 7 to 20 form part of these financial statements.
Page 5
ELTHAM UNITED CHARITIES
BALANCE SHEET AS AT 31 DECEMBER 2021
| Note Fixed assets Tangible assets 12 Investments 14 Investment property 13 Current assets Debtors 15 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Endowment funds 17 Restricted funds 17 Unrestricted funds 17 Total funds |
7,749 328,439 336,188 (18,486) |
2021 £ 210,325 4,016,996 6,821,900 11,049,221 317,702 11,366,923 11,366,923 11,366,923 10,290,419 4,833 1,071,671 11,366,923 |
7,621 263,832 271,453 (19,557) |
2020 £ 216,511 3,574,502 6,320,050 |
|---|---|---|---|---|
| 10,111,063 251,896 |
||||
| 10,362,959 | ||||
| 10,362,959 | ||||
| 10,362,959 | ||||
| 9,443,116 4,833 915,010 |
||||
| 10,362,959 |
The financial statements were approved and authorised for issue by the Trustees on 15 August 2022 and signed on their behalf by:
Mr P Sowden
Mrs A J Grant
The notes on pages 7 to 20 form part of these financial statements.
Page 6
ELTHAM UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1. General information
Eltham United Charities is a charity registered in the UK under number 223491 and operates from Fifteenpenny Fields, 8 Blunt Road, Eltham, London SE9 1HT
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and 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 Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Eltham United charities meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
2.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
Page 7
ELTHAM UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
2. Accounting policies (continued)
2.5 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
- Freehold property 2% straight line
2.6 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
Investments held as fixed assets are shown at cost less provision for impairment.
2.7 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.9 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.10 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Page 8
ELTHAM UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
2. Accounting policies (continued)
2.11 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
2.12 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
3. Income from donations and legacies
| Donations Donations |
Unrestricted funds 2021 £ 200 Unrestricted funds 2020 £ 25 |
Total funds 2021 £ 200 |
|---|---|---|
| Total funds 2020 £ 25 |
4. Investment income
| Investment income - local investment properties Income from local listed investments Investment income - local cash |
Endowment funds 2021 £ - 85,252 - 85,252 |
Unrestricted funds 2021 £ 110,569 20,053 27 130,649 |
Total funds 2021 £ 110,569 105,305 27 |
|---|---|---|---|
| 215,901 |
Page 9
ELTHAM UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
4. Investment income (continued)
| Investment income - local investment properties Income from local listed investments Investment income - local cash |
Endowment funds 2020 £ - 99,822 - 99,822 |
Restricted funds 2020 £ - - 2 2 |
Unrestricted funds 2020 £ 94,547 18,044 329 112,920 |
Total funds 2020 £ 94,547 117,866 331 |
|---|---|---|---|---|
| 212,744 |
5. Other incoming resources
| Registration fees Unrestricted funds 2020 £ Registration fees 117 |
Total funds 2021 £ - |
|---|---|
| Total funds 2020 £ 117 |
6. Investment management costs
| Investment property insurance Investment property repairs Investment property administration fees Investment property rates and water Stockbroker administration fee |
Endowment funds 2021 £ - - - - 5,356 5,356 |
Unrestricted funds 2021 £ 2,446 6,799 177 96 2,444 11,962 |
Total funds 2021 £ 2,446 6,799 177 96 7,800 |
|---|---|---|---|
| 17,318 |
Page 10
ELTHAM UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
6. Investment management costs (continued)
| Investment property insurance Investment property repairs Investment property administration fees Investment property rates and water Stockbroker administration fee 7. Analysis of expenditure on charitable activities Summary by fund type |
Endowment funds 2020 £ - - - - 4,609 4,609 |
Unrestricted funds 2020 £ 2,575 18,701 2,248 694 2,163 26,381 |
Total funds 2020 £ 2,575 18,701 2,248 694 6,772 |
|---|---|---|---|
| 30,990 | |||
| Almspersons Almspersons 8. Analysis of expenditure by activities Almspersons |
Endowment funds 2021 £ 6,186 Endowment funds 2020 £ 6,186 Activities undertaken directly 2021 £ 74,672 |
Unrestricted funds 2021 £ 88,826 Unrestricted funds 2020 £ 84,372 Support costs 2021 £ 20,340 |
Total funds 2021 £ 95,012 |
|---|---|---|---|
| Total funds 2020 £ 90,558 |
|||
| Total funds 2021 £ 95,012 |
Page 11
ELTHAM UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
8. Analysis of expenditure by activities (continued)
| Almspersons Analysis of direct costs Staff costs Depreciation Pensions & grants Rates & water Light & heat Repairs & maintenance Professional Office expenses Social events & Christmas gifts Staff costs Depreciation Pensions & grants Rates & water Light & heat Repairs & maintenance Professional Office expenses Social events & Christmas gifts |
Activities undertaken directly 2020 £ 70,991 |
Support costs 2020 £ 19,567 Almspersons 2021 £ 15,130 6,186 600 7,149 7,663 32,324 4,219 630 771 74,672 Almspersons 2020 £ 14,689 6,186 670 5,607 7,466 31,154 4,005 631 583 70,991 |
Total funds 2020 £ 90,558 |
|---|---|---|---|
| Total funds 2021 £ 15,130 6,186 600 7,149 7,663 32,324 4,219 630 771 |
|||
| 74,672 | |||
| Total funds 2020 £ 14,689 6,186 670 5,607 7,466 31,154 4,005 631 583 |
|||
| 70,991 |
Page 12
ELTHAM UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
8. Analysis of expenditure by activities (continued)
Analysis of support costs
| Staff costs Insurance Accountancy Professional Telephone Office expenses Governance costs Staff costs Insurance Accountancy Professional Telephone Office expenses Governance costs 9. Independent examiner's remuneration |
Almspersons 2021 £ 13,856 1,749 1,500 780 595 1,000 860 20,340 Almspersons 2020 £ 13,501 1,718 1,347 785 721 665 830 19,567 |
Total funds 2021 £ 13,856 1,749 1,500 780 595 1,000 860 |
|---|---|---|
| 20,340 | ||
| Total funds 2020 £ 13,501 1,718 1,347 785 721 665 830 |
||
| 19,567 | ||
The independent examiner's remuneration amounts to an independent examiner fee of £830 (2020 - £800).
Page 13
ELTHAM UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
10. Staff costs
| 2021 £ Wages and salaries 27,736 Contribution to defined contribution pension schemes 1,249 28,985 The average number of persons employed by the Charity during the year was as follows: 2021 No. Management staff 2 |
2020 £ 26,977 1,213 |
|---|---|
| 28,190 | |
| 2020 No. 2 |
No employee received remuneration amounting to more than £60,000 in either year.
11. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2020 - £NIL).
During the year, no Trustee expenses have been incurred (2020 - £Nil).
Page 14
ELTHAM UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
| 12. Tangible fixed assets Cost or valuation At 1 January 2021 At 31 December 2021 Depreciation At 1 January 2021 Charge for the year At 31 December 2021 Net book value At 31 December 2021 At 31 December 2020 13. Investment property Valuation At 1 January 2021 Surplus on revaluation At 31 December 2021 |
Freehold property £ 309,297 |
|---|---|
| 309,297 | |
| 92,786 6,186 |
|
| 98,972 | |
| 210,325 | |
| 216,511 | |
| Freehold investment property £ 6,320,050 501,850 |
|
| 6,821,900 |
The 2021 valuations were made by I Skinner FNAVA of Bernard H Skinner & Co, on an open market value for existing use basis.
Page 15
ELTHAM UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
14. Fixed asset investments
| Cost or valuation At 1 January 2021 Additions Disposals Revaluations At 31 December 2021 |
Listed investments £ 3,574,502 133,897 (60,346) 368,943 |
|---|---|
| 4,016,996 |
15. Debtors
| Due within one year Prepayments and accrued income |
2021 £ 7,749 7,749 |
2020 £ 7,621 |
|---|---|---|
| 7,621 |
16. Creditors: Amounts falling due within one year
| Trade creditors Other creditors |
2021 £ 1,213 17,273 18,486 |
2020 £ 1,213 18,344 |
|---|---|---|
| 19,557 |
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ELTHAM UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
17. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds - all funds Endowment funds Special range fund General fund capital account Restricted funds Thomasin Sampson (apprenticing) charity fund Total of funds |
Balance at 1 January 2021 £ 915,010 8,845,203 597,913 9,443,116 4,833 10,362,959 |
Income £ 130,849 55,174 30,078 85,252 - 216,101 |
Expenditure £ (100,788) (6,186) (5,356) (11,542) - (112,330) |
Transfers in/out £ 30,078 - (30,078) (30,078) - - |
Gains/ (Losses) £ 96,522 803,671 - 803,671 - 900,193 |
Balance at 31 December 2021 £ 1,071,671 |
|---|---|---|---|---|---|---|
| 9,697,862 592,557 |
||||||
| 10,290,419 | ||||||
| 4,833 | ||||||
| 11,366,923 |
Page 17
ELTHAM UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
17. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds General Funds - all funds Endowment funds Special range fund General fund capital account Restricted funds Thomasin Sampson (apprenticing) charity fund Total of funds |
Balance at 1 January 2020 £ 871,499 8,507,972 602,522 9,110,494 4,831 9,986,824 |
Income £ 113,062 69,415 30,407 99,822 2 212,886 |
Expenditure £ (110,753) (6,186) (4,609) (10,795) - (121,548) |
Transfers in/out £ 30,407 - (30,407) (30,407) - - |
Gains/ (Losses) £ 10,795 274,002 - 274,002 - 284,797 |
Balance at 31 December 2020 £ 915,010 |
|---|---|---|---|---|---|---|
| 8,845,203 597,913 |
||||||
| 9,443,116 | ||||||
| 4,833 | ||||||
| 10,362,959 |
Page 18
ELTHAM UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
18. Summary of funds
Summary of funds - current year
| General funds Endowment funds Restricted funds |
Balance at 1 January 2021 £ 915,010 9,443,116 4,833 10,362,959 |
Income £ 130,849 85,252 - 216,101 Income £ 113,062 99,822 2 212,886 |
Expenditure £ (100,788) (11,542) - (112,330) Expenditure £ (110,753) (10,795) - (121,548) |
Transfers in/out £ 30,078 (30,078) - - Transfers in/out £ 30,407 (30,407) - - |
Gains/ (Losses) £ 96,522 803,671 - 900,193 Gains/ (Losses) £ 10,795 274,002 - 284,797 |
Balance at 31 December 2021 £ 1,071,671 10,290,419 4,833 |
|---|---|---|---|---|---|---|
| 11,366,923 | ||||||
| Balance at 31 December 2020 £ 915,010 9,443,116 4,833 |
||||||
| Summary of funds - prior year | ||||||
| General funds Endowment funds Restricted funds |
Balance at 1 January 2020 £ 871,499 9,110,494 4,831 9,986,824 |
|||||
| 10,362,959 |
19. Analysis of net assets between funds Analysis of net assets between funds - current year
| Tangible fixed assets Fixed asset investments Investment property Current assets Creditors due within one year Total |
Endowment funds 2021 £ 210,325 3,167,027 6,821,900 109,653 (18,486) 10,290,419 |
Restricted funds 2021 £ - - - 4,833 - 4,833 |
Unrestricted funds 2021 £ - 849,969 - 221,702 - 1,071,671 |
Total funds 2021 £ 210,325 4,016,996 6,821,900 336,188 (18,486) |
|---|---|---|---|---|
| 11,366,923 |
Page 19
ELTHAM UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
19. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Tangible fixed assets Fixed asset investments Investment property Current assets Creditors due within one year Total |
Endowment funds 2020 £ 216,511 2,830,403 6,320,050 95,709 (19,557) 9,443,116 |
Restricted funds 2020 £ - - - 4,833 - 4,833 |
Unrestricted funds 2020 £ - 744,099 - 170,911 - 915,010 |
Total funds 2020 £ 216,511 3,574,502 6,320,050 271,453 (19,557) 10,362,959 |
|---|---|---|---|---|
20. Pension commitments
The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £1,249 (2020 - £1,213). Contributions totalling £Nil (2020 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.
Page 20