2020-09-30-accounts - Sir Malcolm Stewart Bart General Charitable Trust

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`Settlor:`	`SirPercyMalcolmStewart,Baronet,OBE`
`Nameofthe`
`Charity:`	`SirMalcolmStewartBart.GeneralCharitableTrust`
	`Theprincipalgoverningdocumentisa deedpolldated10July`	`1945.The`
	`settlementisa privatecharitabletrustcontrolledbyitsTrustees.`
`Trustees:`	`DavidJohnSzymanski(Chairman)`
	`MalcolmDoggettSavory`
	`MissDebraJayneHassall`
	`PeterJohnFaulkner`
	`DuncanEdwards`
	`MrsHannahLawes`
	`KeithStewart`
	`Whenneworadditionaltrusteesareappointedbytheexistingtrusteestheywill`
	`beencouragedtoreceiveappropriatetrainingdependingontheirqualifications`
	`andexperience`
`PrincipalOffice`
`Address:`	`Mercer& HoleTrusteesLimited,GloucesterHouse,`
	`72LondonRoad,StAlbans,HertsAL11NS`
`Solicitors:`	`BirkettsLLP,KingfisherHouse,`
	`1GildersWay,Norwich,Norfolk,NR31UB`
`Reporting`
`Accountants:`	`Mercer& HoleTrusteesLimited,`
	`72LondonRoad,StAlbans,HertsAL11NS`
`Independent`
`Examiners:`	`SteveRobinson`
	`Mercer& Hole`
	`72LondonRoad,StAlbans,HertsAL11NS`
`Bankers:`	`BarclaysBankplc,ChanceryLane& Goslings`
	`147Holborn,LondonEC1N2NU`
`Bursar:`	`MissDebraJ Hassall`
`Investment`
`Managers:`	`Rathbones,8 FinsburyCircus,LondonEC2M7AZ`
	`TheTrusteeshavewidepowersofinvestment.`
	`On` `31October2000theTrusteesobtainedanorderunder`	`section26ofthe`
	`CharitiesAct1993` `toappointanInvestmentManagerand`	`todelegatetheir`
	`investmentpowerstosuchmanager(includingpowertoappoint`	`acorporatebody`
	`asnomineetoholdtheinvestmentsoftheCharity).`
	`InaccordancewiththispowerRathboneshavebeenactingthroughouttheperiod`
	`coveredbytheseaccounts.`

	`3.`	`Theprincipalaimsandactivitiesforthetrusteesistheupkeepofthehomesand`
		`gardens` `atStewartbyand` `toprovide` `asafeandfriendlyenvironmentforthe`
		`peoplewhooccupythehomes.` `Inordertoachievetheirobjectives,thetrustees`
		`usethetrustfundstomaintainthehomesandgardensandthegeneralrunning`
		`costsoftheestate.Thehomesaregraduallybeingmodernisedasappropriate`
		`planningpermissionsareobtainedandasfundspermit.`
`Objectivesofthe`
`Charity:`		`Theobjectsofthetrust(seeabove)areclearlyofpublicbenefitbothdirectlyand`
		`indirectly.TheTrusteeshavecompliedwiththedutyinpart1,chapter1,section`
		`4oftheCharitiesAct2011tohavedueregardtopublicbenefitguidance`
		`publishedbytheCharity.`
		`TheTrusteeshavethepowertospendincomeandcapital.`
`Achievementsand`
`performance:`		`TheCharity'smainactivitiesandwhoittriestohelparedescribedabove.Allofits`
		`charitableactivitiesarefocussedonachievingitsobjectivesandareundertaking`
		`a` `modernisation` `programme,` `subject` `to` `planning` `permissions` `and` `funds`
		`available,ofthehomesandpathwaystofurtheritsworktowardsthebenefitofits`
		`beneficiaries.`
		`TheTrusteesmetthreetimesthisyeartoreviewtherunningoftheSirMalcolm`
		`Stewarthomes,theinvestmentofthetrustfunds,thefinancial situationandany`
		`othermattersarising.Theyreceivedreportsfromthebursarwholiaiseson` `a`
		`regularbasiswiththeothertrustees.`
		`Thedaytodayrunningofthehomesisinthehandsofthewardenswholiveon`
		`siteand` `report` `tothebursar.Thebursar` `isresponsibleforsupervising` `the`
		`maintenanceoftheestate.`
		`Theinvestmentobjectives/performancearestatedbelow.`
`Investment`
`Policy:`		`TheinvestmentpolicyagreedwithRathbones,theInvestmentManager,` `isto`
		`generateoptimumincomeforthemaintenanceofthehomeswhilstatthesame`
		`timeseekinglongtermcapitalgrowth.Fortheyearended30September2020,`
		`theoverall` `return` `is` `agrowth` `of0.951%` `(20197.937%).Giventhevolatile`
		`stockmarketconditions,thetrusteesaresatisfiedwiththeperformanceoverthe`
		`year.`
`RiskManagement:`		`Apartfromtherisksassociatedwithpropertyandtherunningofthehomeswhich`
		`arecoveredbycomprehensiveinsurance,theTrusteesdonotconsiderthatthe`
		`Charity` `isexposedtoanymajorrisk,otherthanmarketrisks` `inrelationto` `its`
		`shareportfolio.` `TheTrusteeshavedelegatedmanagementoftheportfolioto`
		`professionalmanagers,thoughtheyreviewtheirperformanceregularly.`
`Reserves:`		`ThetotalreservesoftheCharityhavedecreasedby£242,353duringtheyear`
		`ended` `30September2020.Totalunrestrictedreservesnowheldamount` `to`
		`£12,618,676andare` `held` `forthemaintenanceandupkeep` `ofthehomes` `at`
		`Stewartby.` `The` `value` `of` `the` `investments` `has` `decreased` `resulting` `in` `a`
		`depreciation` `of£79,126during` `theyear.` `As` `indicatedundertheReview` `of`
		`FinancialTransactions(seebelow)thetrusteesaretakingstepstobringincome`
		`andexpenditureintobalance.`

		`Unrestricted`
		`funds`
	`Notes`	`2020`	`2019`
		`£`	`£`
`Incomeandendowmentsfrom`
`Incomefromcharitableactivities`
`Servicechargesreceivablefromtenants`	`1`	`58,859`	`60,194`
`InvestmentIncome`
`Dividends`		`50,798`	`79,987`
`Interestfrominvestmentmanagers(gross)`		`1,073`	`1,007`
`Otherincome`
`(Loss)/Gainonsaleofprogrammerelatedinvestment`		`-` `___110,730`	`(2,447)` `__138,744`
`Expenditureon`
`Costsofcharitableactivities`	`2`	`264,995`	`515,964`
`Costofgeneratingfunds-` `Investmentmanager'sfees`		`8,962`	`___11,991`
`Totalexpenditure`		`273,957`	`527,955`
`Netincoming(outgoing)resourcesbeforerevaluations`
`andinvestmentassetdisposals`		`(163,227)`	`_(389,214)`
`Netgains/(losses)on`
`Investments`	`5`	`(79,126)`	`135,207`
`Property- sales`		`-`	`1,050,000`
`Tangibleasset`		`-`	`2,927`
		`(79,126)`	`_1,188,134`
`Netincome/(expenditure)`		`(242,353)`	`798,920`
`Reconciliationoffunds`
`Totalfundsbroughtforward`		`12,861,029`	`12,062,109`
`Totalfundscarriedforward`		`12,618,676`	`12,861,029`

`Balancesheet` `at30September2020`
		`2020`	`2019`
	`Notes`	`£`
`FixedAssets`
`FreeholdPropertyatmarketvalue:`
`SirMalcolmStewartHomesandCommunity` `HallandlandatStewartby,atmarketvalue` `WorksofArt` `Tangibleassets` `Investments`	`4` `as`	`10,027,676` `10,488` `13,428` `1,952,351`	`9,570,000` `10,488` `17,723` `2,866,406`
`TotalFixedAssets`		`12,003,943`	`12,464,617`
`CurrentAssets`
`Debtorsandprepayments`	`6`	`22,828`	`20,618`
`Balancewithinvestmentmanagers`		`605,951`	`308,330`
`Cashatbank`		`33,378`	`103,136`
`Cashinhand` `Liabilities:amountsfallingduewithinoneyear`	`7`	`873` `663,030` `48,297`	`1,400` `433,484` `37,072`
`NetCurrentAssets`		`614,733`	`396,412`
`TotalNetAssetsofTrust`		`12,618,676`	`12,861,029`
`Representedby`
`Unrestrictedfunds(page7)`		`12,618,676`	`12,861,029`

		`2020`	`2020`	`2019`
		`£`	`£`	`£`	`£`
`le`	`Servicechargesreceiveablefromtenants`
	`Servicechargereceivedfromtenants`		`57,871`		`59,305`
	`Servicechargeduefromtenants`		`988`		`889`
			`58,859`		`60,194`
`2.`	`Costsofcharitableactivities`
	`Costsofcharitableactivities`		`264,995`		`515,964`
	`Thebreakdownofcostsofcharitableactivitiesis`	`asfollows`	`-`
	`UpkeepofhomesatStewartby`
	`Maintenanceexpenditure`		`47,360`		`297,682`
	`(includingMaintenanceassistant'ssalary)`
	`Salaries`
	`Bursar`	`41,895`		`34,385`
	`Wardens`	`33,065`		`34,585`
	`Groundsman`	`37,296`		`35,969`
	`CommunityHallcleaner(incsupplies)`	`6,301`		`5,269`
	`Groundsman'ssupplies`	`6,385`		`4,243`
	`Othergardenexpenditure`	`1,560`		`1,810`
	`Watercharges`	`1,272`		`2,138`
	`Street/Porchlights`	`3,478`		`2,772`
	`CommonRoomHeating/lighting`	`2,385`		`2,542`
	`SundryExpenses`	`508`		`539`
	`VacantHomecharges`	`17,497`		`12,509`
	`Electricityforgarageblock`	`1,871`		`1,631`
	`Insurance`	`20,684`		`19,647`
	`Minibusexpenses`	`1,383`		`3,675`
	`Benefitstotenants`	`872`		`1,925`
	`ContributiontoChurchexpenses`	`1,200`		`18,942`
			`177,652`		`182,581`
			`225,012`		`480,263`
	`Expenditure`
	`Accountants'charges`
	`Trustaccounts`	`13,200`		`9,360`
	`VEdaycelebrationcosts`	`1,575`		`-`
	`Auditor'scharges`
	`Independentexamination`	`1,800`		`-`
	`Accountsaudit(prioryears)`	`4`		`4,560`
	`Legalcosts`	`-`		`151`
	`Depreciation`	`4,295`		`5,706`
	`Trustees'expenses`	`133`		`551`
	`Administrationcosts`	`18,976`		`15,373`
			`39,983`		`35,701`
	`Totalcostsofcharitableactivities`		`264,995`		`515,964`

		`Freehold`		`Works`
		`Landand`		`of`		`2020`		`2019`
		`Buildings`		`Art`		`Total`		`Total`
		`£`		`£`		`£`		`£`
`Bookvalues`
`Openingbalance`		`9,570,000`		`10,488`		`9,580,488`		`8,645,488`
`Less:Saleofhomesduringtheyear`			`-`		`-`		`-`	`(115,000)`
`Upgradingwindowsexpenditure`		`457,676`			`-`	`457,676`		`-`
`Revaluation`			`-`		`-`		`-`	`1,050,000`
`Closingbalance`		`10,027,676`		`10,488`		`10,038,164`		`9,580,488`
`Tangibleassets`
	`Furniture`
	`fittingsand`	`Tractors`				`2020`		`2019`
	`equipment`	`&Mowers`		`Minibus`		`Total`		`Total`
	`£`	`£`		`£`		`£`		`£`
`Cost`
`Openingbalance`	`4,899`	`29,828`		`15,764`		`50,491`		`53,696`
`Additions`	`-`		`-`		`-`		`-`	`11,400`
`Disposals`	`-`		`-`		`-`		`-`	`(14,605)`
`Closingbalance`	`4,899`	`29,828`		`15,764`		`50,491`		`50,491`
`Depreciation`
`Openingbalance`	`3,991`	`18,001`		`10,776`		`32,768`		`40,845`
`Disposals`	`-`		`-`		`-`		`-`	`(13,783)`
`Chargeforyear`	`91`	`2,957`		`1,247`		`4,295`		`5,706`
`Closingbalance`	`4,082`	`20,958`		`12,023`		`37,063`		`32,768`
`Netbookvalues`
`Closingbalance`	`817`	`8,870`		`3,741`		`13,428`		`17,723`

`at30`	`September2020`
`(continued)`
`5.`	`FixedAssetInvestments`
		`2020`	`2019`
		`£`	`£.`
	`QuotedInvestments` `Marketvalue30September2019` `Additions` `Disposals` `Netrealisedinvestmentgains/(losses)` `Netunrealisedinvestmentgains/(losses)`	`2,866,406` `283,861` `(1,118,790)` `(87,281)` `8,155`	`2,724,004` `331,222` `(324,026)` `(5,864)` `141,070`
	`Marketvalue30September2020`	`1,952,351`	`2,866,406`
`6.`	`Debtorsandprepayments`	`2020`	`2019`
		`£`	`z`
	`Servicechargeduefromtenants`	`4,279`		`3,290`
	`Incometaxrecoverable`	`1,728`		`1,728`
	`Dividendreceivable`	`296`		`424`
	`Insuranceprepayment`	`16,525`	`15,176`
		`22,828`	`20,618`
`7.`	`Liabilities:amountsfallingduewithinoneyear`	`2020`	`2019`
		`£`	`£`
	`Maintenanceexpenditure`	`4,586`		`3,102`
	`Salaries`
	`Bursar`	`3,224`		`2,940`
	`Wardens`	`5,014`		`6,282`
	`MaintenanceAssistant`			`86`
	`Groundsman`	`6,050`		`5,839`
	`CommunityHallcleaner(incsupplies)`	`870`		`833`
	`Groundsman'ssupplies`	`1,724`		`580`
	`Street/Porchlights`	`545`		`545`
	`CommunialHallheatingandlighting`			`131`
	`SundryExpenses`			`20`
	`Electricityforgarageblock`			`244`
	`Vacanthomecharges`	`220`		`110`
	`Minibusexpenses`	`165`
	`ContributiontoChurchexpenses`	`300`		`300`
	`Benefitstoresidents`	`13`		`8`
	`Servicechargesrepayable`	`4,454`
	`Accountants’charges`	`6,000`		`3,600`
	`Independentexaminer'scharges`	`1,800`
	`Auditor'scharges`	`9,124`		`9,120`
	`Investmentmanagerscharges`	`2,263`		`3,108`
	`Administrationcosts`	`1,945`		`224`
		`48,297`	`37,072`