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2020-12-31-accounts

Trustees		Mr D Handford
		Mr D Mason
		Mr J Milne
		MrJ Parry
		Mr M Rawson
		Mr KTalbot
		Mr RTaylor
		Mr R Smith
		Mr G M Wilkinson
		Mr D Bullman
		Mr D F Evans
		Mr D C Mander
		Mr P Rosier
Charity number		229237
Registered	office	3Mc Middlemarch		Business Park
		Siskin Drive
		Coventry
		CV34FJ
Auditor		Dafferns LLP
		Harry Weston Road
		Binley Business	Park
		Coventry
		CV3 2UB
Bankers		HSBC
		55 Corporation	Street
		Coventry
		CV1 1QJ
Solicitors		Mander Hadley	Limited
		Solicitors
		1 The Quadrant
		Coventry
		West Midlands
		CV1 2DW
Investment	advisors	Quilter Cheviot	Ltd
		Provincial House
		37 New Walk
		Leicester
		LE1 6TU

		Page
Trustees' report		1-3
Statement oftrustees'	responsibilities
Independent auditor's	report	5-7
Statement offinancial	activities
Balance sheet
Statement ofcash flows		10
Notes to the financial	statements	11 - 19

Structure, governance and management The Charity isconstituted under ascheme ordered bythe Charity sealed on 29th December 1978embracing the charities formerly	Structure, governance and management The Charity isconstituted under ascheme ordered bythe Charity sealed on 29th December 1978embracing the charities formerly	Structure, governance and management The Charity isconstituted under ascheme ordered bythe Charity sealed on 29th December 1978embracing the charities formerly	Commissioners known as:	for Engkml and Nba
a.The Freemen's Seniority Fund b.The Estates ofthe Freemen and Wldorrs ofFreemen ofthe City ofCoventry c.The Estates ofthe Freemen ofthe City ofCoventry.
Trustees
The trustees who	served	during the year were:
Mr DHandiord
Mr D Mason
MrJMilne
MrJParry
Mr M Rawson
Mr KTalbot
Mr RTaylor
Mr RSmith
Mr G M NSlkinson
Mr DBuiman
Mr DFEvans
Mr DCMender
MrPRosier

				Unrestricted	Endowment	Total	Total
				funds	funds
				2020	2020	2020	2019
			Notes	E	E	f
Income from:
Investments				912,806		912,806	909,737
Ex enditure on:
Charitable activities			4	1,061,341		1,061,341	900,656
Net of incoming	and outgoings			(148,535)		(148,535)	9,081
Net gains/(losses)		on investments		(59,001)	(123,633)	(182,634)	413,302
Net movement	in	funds		(207,536)	(123,633)	(331,169)	422,383
Fund balances	at 1 January 2020			1,322,319	14,959,232	16,281,551	15,859,167
Fund balances	at	31 December 2020		1,114,783	14,835,599	15,950,382	16,281,550

	Notes	2020 f	R	2019
Fixed assets
Investment properties Investments	9 't0	12,628,811 3,173,784		12,628,811 3,435,277
Current~		15,802,595		16,064,088
Debtors Gash at bank and in hand	12	42,114 142,264	158.745 100,614
CnrdNors: amourds faNing due within		184,378	259,359
one year	13	(36,591)	(41,897)
		147,787		2'I7,462
		15,950,382		16281.550
Capital funds
Endowment funds - general Income funds	14	14,835,599		'I4,959,231
Unrestricted funds		1,114,783		1,322,319
tlhi		15,950,382		16,281,550

			2020		2019
		Notes			f
Cash flows from operating	activities
Cash absorbed by operations		18		(950,016)		(962,335)
Investing activities
Investment income			912,806		909,737
Purchase of investments			(183,628)		(718,795)
Proceeds on disposal of investments			262,488		720,995
Net cash generated from investing
activities				991,666		911,937
Net cash used in financing	activities
Net increase/(decrease) in	cash and	cash
equivalents				41,650		(50,398)
Cash and cash equivalents	at beginning	ofyear		100,614		151,012
Cash and cash equivalents	at end of	year		142,264		100,614

	Unrestricted	Unrestricted
	funds	funds
	2020	2019
	E	f
Rental income	814,516	781,034
Investment income	97,457	128,062
Building leases	60	60
Acknowledgements	124	124
Interest receivable	649	457
	912,806	909,737

			2020	2019f
Investment brokers			5,906	6,065
Commissions paid			72,732	69,087
Property	repairs		278,350	103,463
Rates and water			4,301	470
Light and	heat		4,012	2,884
Surveyors	fees		25,760	16,909
Legal fees			22,509	43,814
Seniority	payments		543,312	558,098
Death benefit payments			25,500	26,000
insurance			34,173	32,131
Bad debt			40
			1,016,595	858,921
Share of	support costs (see note 5)		25,726	22,715
Share of	governance	costs (see note 5)	19,020	19,020
			1,061,341	900,656

Support costs
	Support	Governance	2020	2019	Basis ofallocation
	costs	costs
	E
Seniority software	360		360	360	Actual
Sundry expenses	3,889		3,889	554	Actual
Clerk's salary	13,680		13,680	13,680	Actual
Legal expenses	7,073		7,073	7,237	Actual
Bank charges	724		724	884	Actual
Audit fees		5,340	5,340	5,340	Governance
Clerk's salary		13,680	13,680	13,680	Governance
	25,726	19,020	44,746	41,735
Analysed between
Charitable activities	25,726	19,020	44,746	41,735

2020	2019
Number	Number

				Unrestricted	Endowment	Total	Total
				funds	funds
					general
					2020	2020	2019
					E	E
	Revaluation	of investments		(59,001)	(123,633)	(182,634)	413,302
	For the year ended 31
	December 2019			132,874	280,428		413,302
9	Investment	property
							2020f
	Fair value
	Net gains or losses through		fair value adjustments
	At 1 January	2020 and 31	December 2020				12,628,811

									Listed
									investments
	Cost or valuation
	At 1 January 2020								3,435,277
	Additions								183,627
	Valuation changes								(183,448)
	Disposals								(261,672)
	At 31 December 2020								3,173,784
	Carrying amount
	At 31 December 2020								3,173,784
	At 31 December 2019								3,435,277
11	Financial instruments							2020	2019
	Carrying amount	of	financial			assets
	Debt instruments	measured			at	amortised	cost	42,114	158,745
	Equity instruments	measured			at cost less impairment			3,173,784	3,435,277
	Carrying amount.	of	financial			liabilities
	Measured at fair value			through		profit or loss
	Measured at amortised			cost				33,565	38,779
12	Debtors
								2020	2019
	Amounts falling due		within		one year:			F	E
	Other debtors							42,114	158,745
13	Creditors: amounts		falling		due within one year
								2020	2019
								F
	Other taxation and	social security						3,026	3,118
	Other creditors							18,545	13,268
	Accruals and deferred			income				15,020	25,511
								36,591	41,897

			Movement	in funds
	Balance at	Incoming	Resources	Transfers	Revaluations	Balance at
1	January 2020	resources	expended		gains and	31 December
					losses	2020
			f	F	f
	14,959,231		(123,632)			14,835,599
	14,959,231		(123,632)			14,835,599

Analysis o	fnet assets between funds
			Unrestricted	Endowment	Total
				E
Fund balances at 31 December 2020 are represented		by:
Investment	properties			12,628,811	12,628,811
Investments			966,996	2,206,788	3,173,784
Current assets/(liabilities)			147,787		147,787
			1,114,783	14,835,599	15,950,382

	2020	2019
Within one year	818,934	769,633
Between two and five years	999,395	883,154
In over five years	2,273,705	2,405,833
	4,092,034	4,058,620


Cash generated from	operatio	ns			2020	2019
						f,
(Deficit)/surpus for the	year				(331,169)	422,383
Adjustments for:
Investment income recognised		in statement	offinancial	activities	(912,806)	(909,737)
Fair value gains and losses on		investments			182,634	(413,302)
Movements in working	capital:
Decrease/(increase) in	debtors				116,631	(69,814)
(Decrease)/increase in	creditors				(5,306)	8,135
Cash absorbed by operations					(950,016)	(962,335)