## ## |CONTENTS||| |---|---|---| |||Page| |Trustees, Officers and|Advisers|| |Trustees'
Report||| |Statement ofTrustees'|Responsibilities|| |Independent
Auditor's|Report|8-10| |Statement ofFinancial|Activities|| |Balance Sheet||12| |Statement ofCash Flows||13| |Accounting
Policies||14-16| |Notes to the Financial|Statements|17-24| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||Notes|Total|Total| |---|---|---|---|---|---|---| ||||||Funds|Funds| ||||||2021|2020| |Income from:||||||| |Investment
income||||I|659,879|632,160| |Other income|||||23,704|29,060| |Total income|||||683,583|661,220| |Expenditure
on:||||||| |Raising funds:||||||| |Investment
management|||costs|3|265,663|235,338| |Charitable
activities||||4,5,7|451,901|403,719| |Total expenditure|||||717,564|639,057| |Gain/(Loss)
on revaluation|||ofinvestments|13|3,978,941|342,058| |Net incoine/(expenditure)|||before transfers||3,944,960|364,221| |Other recognised|gains and losses:|||||| |Gain on revaluation||of||12|407,825|100,444| |tangible fixed assets||||||| |Net movement
in|funds||||4,352,785|464,665| |Balance at 1 January||2021|||36,669,888|36,205,223| |Balance at 31December 2021|||||41,022,673|36,669,888| ||||Notes|2021|2020| |---|---|---|---|---|---| |FIXEDASSETS|||||| |Tangible fixed assets|||12|5,608,001|5,161,298| |Investments|||13|35,404,632|31,485,546| |||||41,012,633|36,646,844| |CURRENT|ASSETS||||| |Debtors|||14|2,677|14,021| |Cash at bank|and in hand|||108,058|127,639| |||||110,735|141,660| |CREDITORS: Amounts||falling due within one year|15|100,695|118,616| |NET CURRENT ASSETS||||10,040|23,044| |NET ASSETS||||41,022,673|36,669,888| |FUNDS|||||| |Unrestricted|fund|||41,022,673|36,669,888| |||||41,022,673|36,669,888| ||||Notes|2021|2020| |---|---|---|---|---|---| ||||||6| |Net cash used in operating|activities||19|(605,396)|(484,753)| |Cash Flows from investing
activities|||||| |Interest and dividends||||414,053|373,684| |Rental income||||257,170|258,476| |Purchase oftangible fixed assets
Purchase ofinvestment
properties||||(38,878)
(46,530)|(211,857)| |Net cash provided by investing
activities||||585,815|420,303| |Change in cash and cash equivalents||in the year||(19,581)|(64,450)| |Cash and cash equivalents|brought|forward||127,639|192,089| |Cash and cash equivalents|carried forward|||108,058|127,639| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||| |---|---|---| |INVESTMENT INCOME|2021f|2020| |Dividends|402,709|373,684| |Rental income|257,170|258,476| ||659,879|632,160| |ALLOCATION OF INDIRECT C|OSTS &OVERHEADS||| |---|---|---|---| ||Total|Cost of|Charitable| |||Generating|Activities| |||Funds|| |2021|||| |Staff|155,827|77,915|77,912| |Property|60,510|60,510|| |Office/Other|34,643|17,691|16,952| ||250,980|156,116|94,864| |2020||6|| |Staff|154,267|77,135|77,132| |Property|55,803|55,803|| |Office/Other|16,694|8,715|7,979| ||226,764|141,653|85,111| |3|INVESTMENT MANAGEMENT|INVESTMENT MANAGEMENT|COSTS|2021|2020f| |---|---|---|---|---|---| ||Fund management
fees|||109,547|93,164| ||Investment
properties|management|fees|17,197|18,560| ||Investment
properties|maintenance|and refurbishment|30,936|24,796| ||Wages and salaries|||77,915|77,135| ||Insurance|||10,364|11,735| ||Miscellaneous/Other|||19,704|9,948| |||||265,663|235,338| ## |4|CHARITABLE ACTIVITIES|||||||2021|2020f| |---|---|---|---|---|---|---|---|---|---| ||Museum &Archives||||||||| ||Museum
Exhibition|||||||104,108|93,846| ||Archives
and Conservation|||||||29,711|32,713| ||CenSAMM Project|||||||74,363|75,140| ||Wages and salaries|||||||25,831|24,884| ||Functional
Properties - Maintenance||and|refurbishment||||1,572|896| ||Insurance|||||||4,441|5,029| ||Service/Other
Costs|||||||12372|11468| ||Total exc. Grants and donations||||||252,398||243,976| ||Grants &Donations
(note 7)||||||||| ||Grants returned||||||||| ||Other miscellaneous
Scholarship/Educational||||Grants||||| ||Health/Social
Grants|||||||130470|99352| ||Total Grants &Donations|||||||130,470|99,352| ||Support Costs (notes 2&5)||||||||| ||Wages &salaries|||||||52,081|52,248| ||Other - including
governance|costs||||||16952|8 143| ||Total Support Costs|||||||69,033|60,391| ||||||||451,901||403,719| |5|ANALYSIS OF
CHARITABLE ACTIVITIES|2021f|||2021|2021
6|2020|2020|2020| |||Core||Support||Total|Core|Support|Total| |||Funding|||Costs||Funding|Costs|| ||Museum,
Archives &CenSAMM|252,398|||55,226|307,624|243,976|48,313|292,289| ||University
Research Grant||||||||| ||Other educational/publishing||||||||| ||Health/Social
Grants|130,470|||13,807|144,277|99,352|12,078|111,430| |||382,868|||69,033|451,901|343,328|60,391|403,719| |6|GRANTS RECEIVABLE|||||||2021|2020| |||||||||6|| ||Government
grant income|||||||23,104|28,919| ## |7|GRANTS PAYABLE|GRANTS PAYABLE|||Paid in the|2021| |---|---|---|---|---|---|---| ||||||year|Total| |||||||E| ||Grants committed
at|I January 2021 (net)||||(49,841)| ||Paid in the year:|||||| ||GRANT AWARDS|||||| ||Poverty, sickness and|health grants programme|||124,311|| ||Total paid in the year|||||124,311| ||Future commitments|payable (note 15):||||56,000| |||||||130,470| ||The major recipients|for future grants|are:||2021|| ||||||E|| ||Bedford Guild House||||30,000|| ||Project 229||||15,000|| ||Bedford Citizens Advice Bureau||||11,000|| ||||||56,000|| ||All grants are payable|to organisations|only; no grants are payable to individuals.|||| ||ANALYSIS OF STAFF COSTS AND REMUNERATION|||OF KEY|2021|2020| ||MANAGEMENT
PERSONNEL||||No.|No.| ||The average number ofemployees
during the year was:|||||| ||Maintenance
and refurbishment|||||| ||Administration|||||| ||Museum,
Archives|&CENSAMM||||| ||||||12|12| ## |8|ANALYSIS OF|STAFF COSTS AND REMUNERATION|OF KEY||| |---|---|---|---|---|---| ||MANAGEMENT|PERSONNEL (continued)|||| |||||2021|2020| |||||6|| ||Staffcosts for above persons:||||| ||Wages and salaries|||272,629|274,491| ||Social security|costs||18,400|18,775| ||Other pension|costs||13,278|13,792| |||||304,307|307,058| ## ## ## ## |TANGIBLE FIX|EDASSETS|||||| |---|---|---|---|---|---|---| |||Assets|Furniture,|Office||| |||in the course|Chattels|Equipment||| ||Functional|of|&|&Motor|Museum|| ||Properties|construction|Heritage|Vehicles|Assets|Total| |||6|Assets|||| |Cost or valuation:||||||| |I January 2021|3,493,057|1,603,762|64,479|40,452|152,268|5,354,018| |Additions||38,878||||38,878| |Transfer/Disposal|1,642,640|(1,642,640)||||| |Revaluation|407,825|||||407,825| |31December|5,543,522||64,479|40,452|152,268|5,800,721| |2021||||||| |Depreciation:||||||| |I January 2021||||40,452|152,268|192,720| |31 December||||40,452|152,268|192,720| |2021||||||| |Net book value||||||| |31December|5,543,522||64,479|||5,608,001| |2021||||||| |31December|3,493,057|1,603,762|64,479|||5,161,298| |2020||||||| ## ## ||||Investment|Listed|| |---|---|---|---|---|---| ||||properties|investments|Total| |Valuation|at I Jan|2021|10,333,572|21,151,974|31,485,546| |Less: Management||fee charges||(106,385)|(106,385)| |Additions|||46,530||46,530| |Gain in the year|||1,238,044|2,740,897|3,978,941| |Valuation|at 31Dec 2021||11,618,146|23,786,486|35,404,632| ## ## |13(i)|LISTEDINV|ESTME|NT|S ANALYSIS||| |---|---|---|---|---|---|---| ||||||2021|2020| ||UK Securities||||8,671,928|7,645,073| ||Overseas
Securities||||14,395,845|12,653,297| ||Market value|ofinvestments|||23,067,773|20,298,370| ||Cash held by|Investment||Manager|718,714|853,604| ||||||23,786,487|21,151,974| ||The listed investments||are made up as follows:||2021|2020| ||Equities||||20,308,395|17,551,412| ||Fixed Interest|Securities|||2,759,378|2,746,958| ||||||23,067,773|20,298,370| |14|DEBTORS||||2021|2020| ||Prepayments|and accrued||income|2,677|14,021| ||||||2,677|14,021| ## |15|CREDITORS: Amounts|CREDITORS: Amounts|falling due within one|falling due within one|falling due within one|year|year|2021|2020| |---|---|---|---|---|---|---|---|---|---| |||||||||E|| ||Grants payable|||||||56,000|49,841| ||Accruals and deferred income|||||||38,095|62,233| ||Other tax and social security|||||||6,600|6,542| |||||||||100,695|118,616| |16|DEFERRED INCOME||||||||| ||Deferred income|comprises||investment|property|rentals received|||| ||in advance||||||||| |||||||||2021|2020| ||||||||||f.| ||Balance as at I January 2021|||||||5,424|3,710| ||Amount released|to income||earned from|charitable||activities|(5,424)|(3,710)| ||Amount
deferred|in year|||||||5,424| ||Balance as at 31|December||2021|||||5,424| |17|ANALYSIS OFNET ASSETSBYFUND||||||||| ||Unrestricted
funds||||||||| |||||||||2021|2020| ||Tangible fixed assets|||||||5,608,001|5,161,298| ||Investments|||||||35,404,632|31,485,546| ||Net current assets|||||||10,040|23,044| |||||||||41,022,673|36,669,888| ## ||ACTIVITIES||||||||| |---|---|---|---|---|---|---|---|---|---| |||||||||2021|2020| ||Net movement
in funds|||||||4,352,785|464,665| ||Adjustments
for:||||||||| ||(Gain) on investment||properties|||||(1,238,044)|(300,978)| ||Loss/(Gain)
on listed||investments|||||(2,634,512)|52,147| ||Interest and dividends|||||||(402,709)|(373,684)| ||Rental income|||||||(257,170)|(258,476)| ||(Gain) on revaluation||oftangible|fixed|assets|||(407,825)|(100,444)| ||Operating
cash flows|before movements|||in working capital|||(587,475)|(516,770)| ||(Increase)/decrease|in debtors|||||||(7,221)| ||Decrease/(increase)|in creditors||||||(17,921)|39,238| ||Cash used in operating||activities|||||(605,396)|(484,753)| |20|FINANCIAL INSTRUMENTS|||||||2021|2020| ||The carrying amount||ofthe Trust's financial|||instruments|at 31||| ||December were:||||||||| ||Financial Assets||||||||| ||Measured
at fair value through|||SOFA||||23,786,486|21,151,974|