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2020-12-31-accounts

Page
Trustees'
report		 1-4
Statement
oftrustees'		 responsibilities
Independent
auditor's		 report 6-9
Statement
offinancial		 activities 10-11
Balance sheet 12
Statement
ofcash flows		 13
Notes to the financial statements 14-29

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2020 2020 2020 2019 2019 2019
Notes E E E E E
n
m
n		 n wmen from:
Donations
and		 legacies 15,682 15,682 10,000 10,000
Charitable
activities		 134,845 134,845 135,166 135,166
Investments 137,261 175 137,436 179,203 180 179,383
Other income 4,250 4,250 125 125
Total income 292,038 175 292,213 324,494 180 324,674
Ex
n iur		 n:
Raising funds 38,643 42 38,685 49,437 47 49,484
Charitable
activities		 8 422,431 422,431 429,551 429,551
Total resources
expended 461,074 42 461,116 478,988 47 479,035
Net gains/(losses) on
investments 13 (156,245) (538) (156,783) 289,354 621 289,975

Net (outgoing)/
incoming
resources
before transfers		 (325,281) (405) (325,686) 134,860 754 135,614
Gross transfers
between
funds		 174 (174) 181 (181)
Net (outgoing)/incoming
resources		 (325,107) (579) (325,686) 135,041 573 135,614
Other recognised gains and losses
Revaluation
oftangible
fixed assets 252,000 252,000
Actuarial
loss on
defined
benefit pension
schemes (80,000) (80,000) (4,000) (4,000)
Net movement
in funds		 (405,107) (579) (405,686) 383,041 573 383,614
Fund balances at 1
January 2020 5,273,643 5,624 5,279,267 4,889,096 5,051 4,894,147
Fund balances at 31
December 2020 4,868,536 5,045 4,873,581 5,272,137 5,624 5,277,761

2020 2019
Notes
Fixed assets
Tangible assets 14 1,940,455 1,972,761
Investment properties 15 675,000 675,000
Investments 16 2,456,601 2,731,686
5,072,056 5,379,447
Current assets
Debtors 18 22,680 23,280
Cash at bank and in hand 15,137 16,706
37,817 39,986
Creditors: amounts falling due within 21
one year (83,854) (72,844)
Net current liabilities (46,037) (32,858)
Total assets less current liabilities 5,026,019 5,346,589
Creditors: amounts falling due after 22
more than one year (146,438) (141,322)
Net assets excluding pension (liability)/surplus 4,879,581 5,205,267
Defined benefit pension (liability)/
surplus 23 (6,000) 74,000
Net assets 4,873,581 5,279,267
Income funds
Restricted funds 24 5,045 5,624
Unrestricted funds
Designated funds 25 3,128,904 3,394,122
General
unrestricted		 funds 1,745,632 1,804,015
Pension reserve (6,000) 74,000
4,868,536 5,272,137
4,873,581 5,277,761

2020 2019
Notes E
Cash flows from operating activities
Cash absorbed
by operations		 (267,145) (309,258)
Investing activities
Purchase oftangible
fixed assets		 (15,067)
Purchase of investments (107,749) (664,770)
Proceeds on disposal of investments 226,051 810,925
Interest received 137,436 179,383
Net cash generated
from investing
activities 255,738 310,471
Financing activities
Repayment
ofbank loans		 15,773 (31,049)
Payment
leases		 ofobligations
under		 finance (5,935) 8,103
Net cash generated
from/(used		 in)
financing activities 9,838 (22,946)
Net decrease
in cash and		 cash equivalents (1,569) (21,733)
Cash and cash equivalents at beginning of year 16,706 31,763
Cash and cash equivalents at end of year 15,137 16,706

Maintenance Maintenance
contribution contribution
2020f 2019
Charitable income - WMC 134,845 135,166

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2020 2020 2020 2019 2019 2019
E K F E f
Rental income 50,360 50,360 59,413 59,413
Investment income from
dividends and interest 86,901 175 87,076 119,790 180 119,970
137,261 175 137,436 179,203 180 179,383

Unrestricted Total
funds
2020 2019
E F
Other income 4,250 125

Raising fun ds
Unrestricted Restricted Total Total
funds funds
2020f 2020f 2020 2019
F
Investment ro ert costs
Other trading
activities		 18,355 18,355 26,153
Investment mana
ement		 20,288 42 20,330 23,331
38,643 42 38,685 49,484
Forthe year ended 31 December 2019
Investment property costs 26,153 26,153
Investment management 23,284 47 23,331
49,437 47 49,484
8 Charitable activities
Supported Property Total Total
accommodation maintenance 2020 2019
2020 2020
Staff costs 141,085 141,085 144,802
Depreciation and impairment 32,306 32,306 32,306
Water 6,106 6,106 5,844
Council tax on voids 1,278 1,278 1,364
Insurance 16,668 16,668 16,202
Energy costs
Responsive
maintenance		 17,261 19,015 17,261
19,015		 16,153
22,929
Planned
maintenance		 105,116 105,116 119,928
Garden
maintenance		 8,635 8,635 9,285
Serviced maintenance 7,652 7,652 3,855
Cleaning costs 4,704 4,704 2,556
Professional fees 25,120 25,120 16,857
182,398 202,548 384,946 392,081
Share of support costs (see note 10) 33,945 33,945 34,150
Share of governance costs (see note 10) 3,540 3,540 3,320
219,883 202,548 422,431 429,551

Support cost s
Support Governance 2020 2019 Basis ofallocation
costs costs
Clerks fees 16,900 16,900 14,400
Printing
and stationery		 1,345 1,345 389
Telephone 2,363 2,363 3,437
Subscriptions and
donations 622 622 2,755
Travelling
expenses		 483 483 616
Bank charges 1,255 1,255 741
Sundry expenses 5,250 5,250 2,367
Loan interest 6,177 6,177 7,939
Audit fees 3,540 3,540 3,320 Governance
33,945 3,540 37,486 32,188
Analysed
between
Charitable
activities		 33,945 3,540 37,485 32,188

The averag e
monthly
number
employees
during the y		 ear was: 4 (2019 - 4)
2020 2019
Number Number
Pastoral
Supported accommodation
Employment
costs		 2020 2019
F
Wages and salaries 119,576 112,373
Social security costs 4,925 5,125
Other pension costs 16,584 27,304
141,085 144,802

Net gains/( losses)
on		 investments
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2020 2020 2020 2019 2019 2019
f
Revaluation of
investments (156,245) (538) (156,783) 231,519 621 232,140
Revaluation of
investment properties 57,835 57,835
(156,245) (538) (156,783) 289,354 621 289,975

14 Tangible fixed assets Tangible fixed assets
Land and Plant and Total
buildings equipment
K
Cost
At 1 January 2020 1,990,000 15,067 2,005,067
At 31 December 2020 1,990,000 15,067 2,005,067
Depreciation and impairment
At 1 January 2020 30,800 1,506 32,306
Depreciation charged in the year 30,800 1,506 32,306
At 31 December 2020 61,600 3,012 64,612
Carrying
amount
At 31 December 2020 1,928,400 12,055 1,940,455
At 31 December 2019 1,959,200 13,561 1,972,761
15 Investment property
2020
E
Fair value
At 1 January 2020 and 31 December 2020 675,000
2020 2019
F
Freehold 675,000 675,000
Long leasehold
Shortleasehold

16 Fixed asset investment s
Listed Cash in Total
investments porffolio
E
Cost orvaluation
At 1 January 2020 2,711,246 20,440 2,731,686
Additions 107,749 107,749
Valuation
changes		 (156,783) (156,783)
Net Movement (343,639) 117,589 (226,050)
At 31 December 2020 2,318,573 138,029 2,456,602
Carrying
amount
At 31 December 2020 2,318,573 138,029 2,456,602
At 31 December 2019 2,711,246 20,440 2,731,686
17 Financial
instruments		 2020 2019
E
Carrying
amount offinancial		 assets
Instruments
measured		 at fair value through profit or loss 2,318,572 2,711,246
18 Debtors
2020 2019
Amounts
falling due within one year:		 E E
Trade debtors 15,907 10,985
Prepayments
and accrued income		 6,773 12,295
22,680 23,280
19 Loans and overdrafts
2020 2019
E E
Bank loans 188,143 172,370
Payable
within one year		 41,705 31,048
Payable after one year 146,438 141,322
Amounts
included
above which		 fall due after five years:
Payable
by instalments		 17,130

21 Creditors: amounts falling due within one year
Notes 2020f 2019
F
Bank loans 19 41,705 31,048
Obligations under finance leases 20 2,168 8,103
Other taxation and social security 2,507 2,344
Trade creditors 2,169 2,138
Accruals and deferred income 35,305 29,211
83,854 72,844
22 Creditors: amounts falling due after more than one year
2020 2019
Notes
Bank loans 19 146,438 141,322

23 Retirement
benefit schemes		 (Continued)
Amounts
recognised
in the profit		 and loss account:
2020 2019
E
Current service cost 25,000 24,000
Net interest
on defined benefit liability/(asset)		 (2,000) (2,000)
Total costs 23,000 22,000
Amounts
taken to other comprehensive		 income:
2020 2019
E
Actual return
on scheme assets		 38,000 (36,000)
Less: calculated
interest element		 14,000 14,000
Return
on scheme assets excluding		 interest income 52,000 (22,000)
Actuarial
changes
related to obligations		 22,000 22,000
The
amounts
included
in
the		 balance sheet arising from the charity's
obligations
in respect of defined		 benefit plans are as follows:
2020 2019
E
Present value ofdefined
benefit		 obligations 538,000 491,000
Fair value of plan assets (532,000) (565,000)
Deficit/(surplus)
in scheme		 6,000 (74,000)
Movements
in the present value		 ofdefined benefit obligations:
2020
Liabilities at 1 January 2020 491,000
Current service cost 25,000
Benefits paid (15,000)
Contributions
from scheme members		 3,000
Actuarial
gains and losses		 22,000
Interest cost 12,000
At 31 December 2020 538,000

23 Retirement
benefit schemes		 Retirement
benefit schemes		 (Continued)
The defined benefit obligations arise from plans funded as follows:
2020
f,
Wholly
unfunded
obligations
Wholly or partly funded obligations 538,000
538,000
Movements
in the fair		 value of plan assets:
2020f
Fair value ofassets at 1 January 2020 565,000
Interest income 14,000
Return
on plan assets		 (excluding amounts included in net interest) (52,000)
Benefits paid (15,000)
Contributions
by the employer		 17,000
Contributions
by scheme members		 3,000
At 31 December 2020 532,000
The fair value of plan assets at the reporting period end was as follows:
2020 2019
Equity instruments 351,120 401,150
Debt instruments 90,440 79,100
Property 74,480 67,800
Cash 15,960 16,950
532,000 565,000
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26 Analysis ofnet assets Analysis ofnet assets Analysis ofnet assets between between between between funds
Unrestricted Restricted Total Unrestricted Restricted Total
Fund Funds Fund Funds
2020 2020 2020 2019 2019 2019
f F
Fund balances
at		 31
December 2020 are
represented
by:
Tangible assets 1,940,455 1,940,455 1,972,761 1,972,761
Investment
properties		 675,000 675,000 675,000 675,000
Investments 2,451,556 5,045 2,456,601 2,726,062 5,624 2,731,686
Current assets/
(liabilities) (46,037) (46,037) (32,858) (32,858)
Long term liabilities (146,438) (146,438) (141,322) (141,322)
Provisionsand
pensions (6,000) (6,000) 74,000 74,000
4,868,536 5,045 4,873,581 5,273,643 5,624 5,279,267
27 Cash generated from operations 2020 2019
K
(Deficit)/surpus
for the		 year (325,686) 135,614
Adjustments
for:
Investment
income recognised		 in statement offinancial activities (137,436) (179,383)
Fair value gains and losses on investment properties (57,835)
Fair value gains and losses on investments 156,783 (232,140)
Depreciation
and		 impairment oftangible fixed assets 32,306 32,306
Movements
in working		 capital:
Decrease
in debtors		 600 5,250
Increase/(decrease) in creditors 6,288 (13,070)
Cash absorbed
by operations		 (267,145) (309,258)
28 Analysis
ofchanges		 in net (debt)/funds
At 1January Cash flows At 31 December
2020 2020
K K
Cash at bank and in hand 16,706 (1,569) 15,137
Loans falling due within one year (31,048) (10,657) (41,705)
Loans falling due after more than one year (141,322) (5,116) (146,438)
Obligations
under		 finance leases (8,103) 5,935 (2,168)
(163,767) (11,407) (1?5,174)