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|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|||
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|||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|
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|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|||||
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|||||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|
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||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|
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||||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|
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||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|
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|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||
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|2020|2019|
|---|---|
|Number|Number|
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|||||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|
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||||||||||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|
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||||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|
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||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|
##
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||||||||
|---|---|---|---|---|---|---|
|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)|