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|---|---|---|---|
|Reference and Administrative||Information||
|Trustees'<br>Report||||
|Independent<br>Auditors'|Report|to the Trustees||
|Consolidated<br>Statement|ofFinancial Activities|||
|Charity Statement ofFinancial||Activities|12|
|Balance Sheet|||13|
|Consolidated<br>Statement|ofCash Flows||14|
|Notes to the Accounts|||15|





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||||Unrestricted|Restticted|Endowment|r|2020|r|2019|
|---|---|---|---|---|---|---|---|---|---|
||||Funds|Funds|Funds||Total Funds||Total Funds|
|||Notes||||||||
|Income and endowments|from:|||||||||
|Donations<br>and legacies|||129933|3 981|||133914||902,S95|
|Charitable<br>activities|||459 740||||459,740||569,050|
|Other trading<br>activities|||3?20,846||||3 720,846||5,047,S74|
|Investments||3|933,861||6210||940,071||S84,672|
|Other||le|3915,401||||3,915,401||3,556 281|
|Associate - share ofnet profit|||1251.659||||1,251,659||1,028 608|
|Joint venture - share ofnet profit||||||||||
|Total income|||10,411,440|3PSl|6/10||10,421,631||ll o89380|
|Expenditure<br>on:||||||||||
|Raising funds||6|3,S75,252||2,013||3 877,265||4,124,33S|
|Charitable<br>activities||7|6,022,241|14,05S|92||6,036,391||6,261 726|
|Total expenditure|||9,897,493|14,05S|2.,105||9ol3,656||10+86,064|
|Net income and net movement||in funds||||||||
|before gains and losses on investment|||513,947|(10,077)|4 105||507,975||1 603316|
|'Net gains/(losses)<br>on investments|||2,696,775||(5580)||2691 195||1424 245|
|Transfers between<br>funds|||(366376)||366 376|||||
|Net income (expenditure)|and|||||||||
|net movement<br>in funds|||2,844@46|(10,077)|364+01||3,199,170||3,027,561|
|Reconciliation<br>offunds:||||||||||
|Total funds brought<br>forward|||73 001 598|1,961,64S|7,522,122||S2485,368||79,457,807|
|Total funds caned<br>forwatM|||75,845,944|i+51,571|7,8$7,023||$5,684,538||82,485/6S|





## 

|||Unrestricted|Unrestricted|Restricted|Endomuent|2020|2019|
|---|---|---|---|---|---|---|---|
||||Funds|Funds|Funds|Total Funds|Total Funds|
|||Notes||||||
|Income and endomnents|from:|||||||
|Donations<br>and legacies|||129933|3 981||133,914|902,895|
|Charitable<br>acti~sties|||482,137|||482,137|612909|
|Investments||3|2 535,398||6,210|2,541,608|2,743 820|
|Other||le|3 663 644|||3,663 644|3,556281|
|Total income|||6,811,112|3@$1|6,210|6,S21,303|7,815,905|
|Expenditure<br>on:||||||||
|Raising funds||6|244 052||2,013|246 065|221 946|
|Charitable<br>activities||7|6 066 3SS|14058|92|6080,538|6,391941|
|Total expenditure|||6/10,440|14,05S|2,105|6+26,603|6,613,$$7|
|Net income and net movement||in funds||||||
|before gains and losses on investments|||500 672|(10,0?7)|4.105|494 700|1202.018|
|Vet gains.'(losses) on investments|||2 696.775||(5 5SO)|2 691 195|1424,245|
|Transfers be@veen funds|||(366376)||366376|||
|Net income (expenditure)|and|||||||
|net movement<br>in funds|||2,831,071|(10,077)|364+01|3,185,895|2,626/63|
|Reconciliation<br>offunds:||||||||
|Total funds brought<br>forward|||61985,620|1,961648|7,522,122|71,469390|68,843 127|
|Total funds caned forward|||64,816,691|I+51,571|7.887.023|74.655285|71,469 %90|





|Balance Sheet|||||||
|---|---|---|---|---|---|---|
||||Group|Group|Charity|Charity|
||||2020|2019|2020|2019|
|||Notes|||||
|Fixed assets:|||||||
|Tangible assets||11|24,781,616|25,167,134|24,495,937|24,788,100|
|Investments||12|39,305,681|35,224,686|42,504,623|38,423,628|
|Investments<br>in associate:|||||||
|Share ofnet assets||14|13,975,121|12,950,263|||
|Investments<br>injoint venture:|||||||
|Share ofnet assets||15|4, 146,682|4,213,754|||
|Total fixed assets|||82,209,100|77,555,837|67,000,560|63,211,728|
|Current assets:|||||||
|Stocks|||198,776|310,661|19,244|28,506|
|Debtors||17|3,074,211|3,379,590|4,036,064|2,453,092|
|Investments||12|2,043,418|971,445|||
|Programme<br>related investment||18|7,425,907|6,992,175|7,425,907|6,992,175|
|Cash on short term deposit|||2,559,496|5,367,960|2,559,496|5,367,960|
|Cash at bank and in hand|||272,351|184,766|158,523|148,182|
|Total current assets|||15,574,159|17,206,597|14,199,234|14,989,915|
|Liabilities:|||||||
|Creditors - Amounts|falling due||||||
|within one year||19|3,286,221|3,214,566|1,044,509|982,253|
|Net current assets|||12,287,938|13,992,031|13,154,725|14,007,662|
|Total assets less current liabilities|||94,497,038|91,547,868|80,155,285|77,219,390|
|Creditors - Amounts|falling due||||||
|after more than one year||19|8,812,500|9,062,500|5,500,000|5,750,000|
|Total net assets|||85,684,538|82,485,368|74,655,285|71,469,390|
|The funds ofthe charity:|||||||
|Endowment<br>funds||21|7,887,023|7,522,122|7,887,023|7,522,122|
|Restricted income funds||21|1,951,571|1,961,648|1,951,571|1,961,648|
|Unrestricted<br>income funds||21|61,717,750|58,886,678|64,816,691|61,985,620|
|Non-charitable<br>trading|funds|21|14,128,194|14,114,920|||
|Total charity funds|||85,684,538|82,485,368|74,655,285|71,469,390|
|The notes on pages 15 to|36form part ofthese accounts||||||
|Approved<br>by the Trustees on to~ pubs'||202 1 and signed on their||bgealf<br>by'-|||
||||Trustee||||
||||Trustee||||





## 

||||2020|2019|
|---|---|---|---|---|
|||Notes|||
|Cash flows from operating<br>activities:|||||
|Net cash provided<br>by operating<br>activities||23|767,345|983,605|
|Cash flows from investing<br>activities:|||||
|Dividends,<br>interest<br>and rents from investments|||940,071|884,672|
|Proceeds from sale ofproperty,<br>plant &|equipment||70,256|30,638|
|Proceeds from sale ofinvestments|||26,007,135|13,758,337|
|Purchase ofproperty,<br>plant & equipment<br>Purchase ofinvestments|||(1,670,118)<br>(29,468,908)|(1,964,511)<br>(13,709,300)|
|Programme<br>related investment<br>loans|||(433,732)|108,305|
|Investment<br>in joint venture|||67,072|84,217|
|Net cash (used in) investing<br>activities|||(4,488,224)|(807,642)|
|Cash flows from financing<br>activities:|||||
|Cash inflows<br>from new borrowing|||1,000,000|8,312,500|
|Payment ofloan||||(5,500,000)|
|Net cash provided<br>by financing<br>activities|||1,000,000|2,812,500|
|Change in cash and cash equivalents|in the year||(2,720,879)|2,988,463|
|Cash and cash equivalents<br>at the beginning ofthe year|||5,552,726|2,564,263|
|Cash and cash equivalents<br>at the end|ofthe year|24|2,831,847|5,552,726|





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|||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|---|
|||||2020|2019|2020|2019|
|Unrestricted<br>funds||||||||
|Dividends|& interest|- listed securities||546,413|517,126|546,413|517,126|
|Interest on cash deposits||||8,947|13,076|8,947|12,858|
|Other UK|investments|||378,501|348,462|520,543|829,328|
|Dart Abbey Enterprises|||Ltd gift aid &rent|||1,459,495|1,378,500|
|||||933,861|878,664|2,535,398|2,737,812|
|Endowment<br>funds||||||||
|Dividends|& interest|—listed securities||6,210|6,008|6,210|6,008|
|Total||||940,071|884,672|2,541,608|2,743,820|





## 

## 

|||||||Trust for|Unapplied|Total|
|---|---|---|---|---|---|---|---|---|
|||||||Investment|Total Return|Endowment|
|The investment|fund and|application oftotal return to|||||||
|permanent<br>endowment<br>funds:|||||||||
|At 1November|2019||||||||
|Gift component|ofpermanent||endowment|||100,000||100,000|
|Unapplied<br>total|return||||||171,777|171,777|
|Total||||||100,000|171,777|271,777|
|Movements<br>in|unapplied|total return||and endowment||in the year:|||
|Investment<br>return: dividends|||and interest||||5,911|5,911|
|Investment<br>return: recognised|||and unrecognised||gains/(losses)||(5,312)|(5,312)|
|Investment<br>management||costs|||||(1,916)|(1,916)|
|Net movement|in the year||||||(1,317)|(1,317)|
|At 31October|2020||||||||
|Gift component|ofpermanent||endowment|||100,000||100,000|
|Unapplied<br>total|return||||||170,460|170,460|
|Total||||||100,000|170,460|270,460|





## 

## 

||||2020|2019|
|---|---|---|---|---|
||||f.||
|Turnover|||3,839,666|5,445,581|
|Cost ofsales|||(552,163)|(937,082)|
|Gross profit|||3,287,503|4,508,499|
|Operating<br>expenses|||(3,194,878)|(3,364,785)|
|Other income|||251,757||
|Interest receivable|||244,632|197,817|
|Interest payable|||(124,695)|(55,343)|
|Net profit before taxation|||464,319|1,286,188|
|Taxation|||||
|Net profit after taxation|||464,319|1,286,188|
|Gift Aid to The Buckfast Abbey Trust|||(1,316,029)|(1,235,034)|
|Retained<br>in Subsidiary|||(851,710)|51,154|
|Costs ofRaising Funds: Cost ofGoods Sold and Other Costs|||||
||Group|Group|Charity|Charity|
||2020|2019|2020|2019|
|Unrestricted<br>funds|||||
|Trading<br>subsidiary:|||||
|Cost ofsales|474,037|660,100|||
|Staff costs|1,943,862|1,813,664|||
|Depreciation|230,582|236,453|||
|Other costs|982,719|1,192,175|||
|Investment<br>management|244,052|219,990|244,052|219,990|
||3,875,252|4,122,382|244,052|219,990|
|Endowment<br>funds|||||
|Investment<br>management|2,013|1,956|2,013|1,956|
|Total|3,877,265|4,124,338|246,065|221,946|





## 

|7|Charitable<br>Activities|Costs||||||
|---|---|---|---|---|---|---|---|
||Group|||Direct|Support|||
|||||activities|costs|2020|2019|
||Unrestricted<br>funds|||||||
||Retreat centre &guesthouse|||51,424|5,688|57,112|202,029|
||Educational<br>activities|||124,407|12,247|136,654|176,754|
||Parish &ministry<br>support|||1,010,563|98,209|1,108,772|1,288,161|
||Building and ground|maintenance||3,775,414|365,915|4,141,329|3,914,112|
||Charitable<br>giving|||144,668|14,916|159,584|425,426|
||Religious<br>community|support||380,962|37,828|418,790|255,009|
|||||5,487,438|534,803|6,022,241|6,261,491|
||Restricted and endowment||funds|||||
||Parish &ministry<br>support|||14,150||14,150|235|
||Total|||5,501,588|534,803|6,036,391|6,261,726|
||Charity|||Direct|Support|Total|Total|
|||||activities|costs|2020|2019|
||Unrestricted<br>funds|||||||
||Retreat centre &guesthouse|||58,981|5,688|64,669|257,990|
||Educational<br>activities|||126,996|12,247|139,243|187,862|
||Parish &ministry<br>support|||1,018,334|98,209|1,116,543|1,313,951|
||Building<br>and ground|maintenance||3,790,344|365,915|4,156,259|3,938,361|
||Charitable<br>giving|||144,668|14,916|159,584|425,426|
||Religious<br>community|support||392,262|37,828|430,090|268,116|
|||||5,531,585|534,803|6,066,388|6,391,706|
||Restricted and endowment||funds|||||
||Parish &ministry<br>support|||14,150||14,150|235|
||Total|||5,545,735|534,803|6,080,538|6,391,941|





## 

|Support Cost|s|||||
|---|---|---|---|---|---|
||||Other|Total|Total|
|||Governance|costs|2020|2019|
|Office wages|and salaries|20,607|146,020|166,627|135,758|
|Bank interest|and charges||237,351|237,351|305,509|
|Auditors<br>fees||16,080||16,080|16,200|
|Other office|costs|14,191|100,554|114,745|151,189|
|||50,878|483,925|534,803|608,656|



## 

|Staff costs|||||||
|---|---|---|---|---|---|---|
||||Group|Group|Charity|Charity|
||||2020|2019|2020|2019|
|Wages and salaries|||2,988,161|2,781,655|1,345,830|1,260,781|
|Social security costs|||241,664|229,189|120,556|111,084|
|Defined contribution|pension|contributions|386,710|297,828|206,287|123,143|
||||3,616,535|3,308,672|1,672,673|1,495,008|



|charity (and group) for the|year was f.153|,944(2019:f210,91|4).||||
|---|---|---|---|---|---|---|
|||Group||Group|Charity|Charity|
|||2020||2019|2020|2019|
|The average number ofemployees|||||||
|during the year was:||119||137|52|56|
|The number ofemployees|ofthe Group|whose emoluments|amounted|to over|660,000 in the year was as||
|foHows:|||||||
|f60,001 —$70,000|||||||
|$70,001 —f80,000|||||||
|290,001 - 6100,000|||||||
|f100,001 - f110,000|||||||
|f.110,001 - f120,000|||||||





## 

|Group||Buildings|||||
|---|---|---|---|---|---|---|
|||erected on|Other||||
|||permanent|functional||Fixtures||
|||endowment|land and|Motor|fittings<br>and||
|||land|buildings|vehicles|equipment|Total|
|Cost|||||||
|At 1 November|2019|14,125,173|24,076,921|790,150|6,526,707|45,518,951|
|Additions||933,831|283,124|267,067|186,096|1,670,118|
|Dispos als||||(131,236)|(226,505)|(357,741)|
|At 31 October 2020||15,059,004|24,360,045|925,981|6,486,298|46,831,328|
|Depreciation|||||||
|At<br>1 November|2019|6,888,585|9,608,401|529,915|3,324,916|20,351,817|
|Charge for year||567,455|835,870|156,487|433,457|1,993,269|
|Eliminated<br>on disposals||||(70,220)|(225,154)|(295,374)|
|At 31 October 2020||7,456,040|10,444,271|616,182|3,533,219|22,049,712|
|Net book amounts|||||||
|At 31 October 2020||7,602,964|13,915,774|309,799|2,953,079|24,781,616|
|At 31 October 2019||7,236,588|14,468,520|260,235|3,201,791|25,167,134|
|Charity||Buildings|||||
|||erected on|Other||||
|||permanent|functional||Fixtures||
|||endowment|land and|Motor|fittings<br>and||
|||land|buildings|vehicles|equipment|Total|
|Cost|||||||
|At 1 November|2019|14,125,173|24,076,921|516,602|4,223,720|42,942,416|
|Additions||933,831|283,124|208,400|92,681|1,518,036|
|Disposals||||(108,576)|(15,857)|(124,433)|
|At 31 October 2020||15,059,004|24,360,045|616,426|4,300,544|44,336,019|
|Depreciation|||||||
|At 1 November|2019|6,888,585|9,608,401|365,210|1,292,120|18,154,316|
|Charge for year||567,455|835,870|97,904|259,280|1,760,509|
|Eliminated<br>on disposals||||(58,886)|(15,857)|(74,743)|
|At 31 October 2020||7,456,040|10,444,271|404,228|1,535,543|19,840,082|
|Net book amounts|||||||
|At 31October 2020||7,602,964|13,915,774|212,198|2,765,001|24,495,937|
|At 31 October 2019||7,236,588|14,468,520|151,392|2,931,600|24,788,100|





## 

## 

|||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|---|
|||||2020|2019|2020|2019|
||Contracted|but not provided for||178,599|1,208,524|178,599|1,208,524|
||Authorised|but not contracted for||||||
|12|Investments|||||||
|||||Group|Group|Charity|Charity|
|||||2020|2019|2020|2019|
||At 1 November<br>2019|||36,196,131|34,820,923|38,423,628|36,808,224|
||Additions|||28,468,908|13,709,300|26,900,171|13,378,630|
||Disposals|||(26,007,135)|(13,758,337)|(25,510,371)|(13,187,471)|
||Realised gains (losses) on investments|||2,531,770|1,547,335|2,531,770|1,547,335|
||Revaluation|||159,425|(123,090)|159,425|(123,090)|
||At 31 October 2020|||41,349,099|36,196,131|42,504,623|38,423,628|
||Analysed<br>between:|||||||
||Fixed asset|investments||39,305,681|35,224,686|42,504,623|38„423,628|
||Current asset investments|||2,043,418|971,445|||
|||||41,349,099|36,196,131|42,504,623|38,423,628|
||Analysed<br>between:|||||||
||Listed investments|||30,191,469|28,319,177|30,191,469|28,319,177|
||Investment|in DAE Ltd||||100,000|100,000|
||J.Chandler|&Co. (Buckfast) Ltd (note 14)||||3,098,942|3,098,942|
||Programme|Related Investments|(note 18)|14,877,500|12,236,449|14,877,500|12,236,449|
||Cash held as part ofinvestment||portfolio|1,256,252|875,720|1,256,252|875,720|
||Investment|properties||||||
||Other investments|||2,047,418|975,445|4,000|4,000|
||Loan|||(7,023,540)|(6,210,660)|(7,023,540)|(6,210,660)|
|||||41,349,099|36,196,131|42,504,623|38,423,628|





## 

## 

||2020|2019|
|---|---|---|
|Assets|9,407,753|7,856,928|
|LiabiTities|(8,698,187)|(6,295,652)|
|Funds|709,566|1,561,276|



## 

## 

## 



## 

|17|Debtors||||||
|---|---|---|---|---|---|---|
||||Group|Group|Charity|Charity|
||||2020|2019|2020|2019|
||Due within one year:||||||
||Trade debtors||102,895|199,435|||
||Amount<br>due from subsidiary||||3,143,974|750,839|
||Amount<br>due from associate||1,593,401|942,077|||
||Other debtors||91,603|208,469|49,906|160,365|
||Prepayments|and accrued income|785,748|1,424,337|543,354|1,207,495|
||||2,573,647|2,774,318|3,737,234|2,118,699|
||Due after more than one year:||||||
||Prepayments|and accrued income|23,275|34,912|14,000|21,000|
||Other debtors||477,289|570,360|284,830|313,393|
||||3,074,211|3,379,590|4,036,064|2,453,092|



## 

|included ata|<br><br>fair value ofE1,965,114.|||
|---|---|---|---|
|||Concessionary||
|||Loans|Property|
|At 1 November|2019|6,992,175|12,236,449|
|Advances/additions||500,000|2,641,051|
|Interest||266,842||
|Repayments/disposals||(333,110)||
|At 31 October|2020|7,425,907|14,877,500|





## 

|19|Creditors||||||
|---|---|---|---|---|---|---|
||||Group|Group|Charity|Charity|
||||2020|2019|2020|2019|
||Amounts<br>falling due within|one year:|||||
||Bank loan||||||
||Trade creditors||570,974|569,529|402,868|340,247|
||Amount<br>due to subsidiary||||||
||Amount<br>due to associate||1,526,465|1,524,288|||
||Taxation and social security||348,101|349,986|||
||Other creditors||749,264|659,426|550,224|530,669|
||Accruals||91,417|111,337|91,417|111,337|
||||3,286,221|3,214,566|1,044,509|982,253|
||Amounts<br>falling due after more than one year:—||||||
||Bank loans||8,312,500|8,312,500|5,000,000|5,000,000|
||Other creditors||500,000|750,000|500,000|750,000|
||||8,812,500|9,062,500|5,500,000|5,750,000|





## 

## 



## 

## 

|Analysis ofcharitable|Analysis ofcharitable|funds movements-|funds movements-|current year||||
|---|---|---|---|---|---|---|---|
|||||Incoming||||
||||At|resources/||Transfers/|At|
||||1November|new|Expenditure/|Investment|31October|
||||2019|designation|utilised|Gains|2020|
|Endowment<br>funds:||||||||
|Buildings<br>in PEF area|||7,236,588|||366,376|7,602,964|
|St Scholastica's<br>Abbey||||||||
|Teignmouth|||271,777|5,911|(1,916)|(5,312)|270,460|
|Mss Stone's Trust|||6,260|136|(136)|(122)|6,138|
|Warren-Vernon<br>Annuities|||7,497|163|(53)|(146)|7,461|
|Total endowment|funds||7,522, 122|6,210|(2,105)|360,796|7,887,023|
|Restricted funds:||||||||
|Contemplative<br>Nuns|||1,961,463||(10,012)||1,951,451|
|Other|||185||(65)||120|
|Total restricted funds|||1,961,648||(10,077)||1,951,571|
|Unrestricted<br>income funds:||||||||
|Designated funds:||||||||
|Community<br>support|||20,201,972||(392,262)|1,347,063|21,156,773|
|Buildings &plant|||17,551,512||(1,242,744)|584,205|16,892,973|
|Maintenance||||||||
|&improvement|||2,706,497||(2,229,932)|1,931,480|2,408,045|
|Programme||||||||
|related investments|||17,428,624|||3,074,783|20,503,407|
|Working<br>capital|||998,073|5,629,821|(2,405,336)|(3,466,006)|756,552|
|Total unrestricted|funds||58,886,678|5,629,821|(6,270,274)|3,471,525|61,717,750|
|Non charitable<br>trading||funds:||||||
|Subsidiary &joint venture|||1,164,657|3,760,742|(3,631,200)|(1,141,126)|153,073|
|Associate|||12,950,263|1,024,858|||13,975,121|
|Total trading<br>funds|||14,114,920|4,785,600|(3,631,200)|(1,141,126)|14,128,194|
|Total group funds|||82,485,368|10,421,631|(9,913,656)|2,691,195|85,684,538|





## 

|Analysis ofcharitable|Analysis ofcharitable|funds|movements-|previous|year||||
|---|---|---|---|---|---|---|---|---|
|||||Incoming|||||
||||At|resources/||||At|
||||1November||new|Expenditure/|Transfers/|31October|
||||2018|designation||utilised|Gains|2019|
|Endowment<br>funds:|||||||||
|Buildings<br>in PEF area|||7,349,409||||(112,821)|7,236,588|
|St Scholastica's<br>Abbey|||||||||
|Teignmouth|||249,773||5,716|(1,861)|18,149|271,777|
|Miss Stone's Trust|||5,878||134|(179)|427|6,260|
|Warren-Vernon<br>Annuities|||6,889||158|(51)|501|7,497|
|Total endowment|funds||7,611,949||6,008|(2,091)|(93,744)|7,522,122|
|Restricted funds:|||||||||
|Contemplative<br>Nuns|||1,961,463|||||1,961,463|
|Other|||285|||(100)||185|
|Total restricted<br>funds|||1,961,748|||(100)||1,961,648|
|Unrestricted<br>income funds:|||||||||
|Designated funds:|||||||||
|Community<br>support|||18,612,372|||(242,585)|1,832,185|20,201,972|
|Buildings &plant|||17,421,570|||(1,164,968)|1,294,910|17,551,512|
|Maintenance|||||||||
|&improvement|||2,200,420|||(1,879,660)|2,385,737|2,706,497|
|Programme|||||||||
|related investments|||17,536,929||||(108,305)|17,428,624|
|Working capital|||399,197|6,387,537||(3,194,267)|(2,594,394)|998,073|
|Total unrestricted|funds||56,170,488|6,387,537||(6,481,480)|2,810,133|58,886,678|
|Non charitable<br>trading||funds:|||||||
|Subsidiary &joint venture|||1,273,568|5,085,626||(3,902,393)|(1,292,144)|1,164,657|
|Associate|||12,440,054|510,209||||12,950,263|
|Total trading<br>funds|||13,713,622|5,595,835||(3,902,393)|(1,292,144)|14,114,920|
|Total group funds|||79,457,807|11,989,380||(10,386,064)|1,424,245|82,485,368|





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|Current year|||||
|---|---|---|---|---|
||Tangible|Fixed|Other|Total|
||Fixed|Asset|Net|Net|
||Assets|Investments|Assets|Assets|
|Community<br>support||24,156,773|(3,000,000)|21,156,773|
|Buildings &plant|16,892,973|||16,892,973|
|Maintenance<br>&|||||
|improvement|||2,408,045|2,408,045|
|Programme|||||
|related investments||13,077,500|7,425,908|20,503,408|
|Working<br>capital||(12,651)|769,202|756,551|
|Endowment|7,602,964|284,059||7,887,023|
|Restricted income||1,800,000|151,571|1,951,571|
|Associate||13,975,121||13,975,121|
|Non-charitable<br>trading &joint venture|285,679|4,146,682|(4,279,288)|153,073|
|At 31 October 2020|24,781,616|57,427,484|3,475,438|85,684,538|
|Previous year|||||
||Tangible|Fixed|Other|Total|
||Fixed|Asset|Net|Net|
||Assets|Investments|Assets|Assets|
|Community<br>support||22,701,972|(2,500,000)|20,201,972|
|Buildings &plant|17,551,512|||17,551,512|
|Maintenance<br>&|||||
|improvement|||2,706,497|2,706,497|
|Programme|||||
|related investments||10,436,449|6,992,175|17,428,624|
|Working<br>capital||731|997,342|998,073|
|Endowment|7,236,588|285,534||7,522,122|
|Restricted income||1,800,000|161,648|1,961,648|
|Associate||12,950,263||12,950,263|
|Non-charitable<br>trading &joint venture|379,034|4,213,754|(3,428,131)|1,164,657|
|At 31 October 2019|25,167,134|52,388,703|4,929,531|82,485,368|





## 

## 

|Reconciliation of 'Net income to net cash floxv from operating|activities||
|---|---|---|
||2020|2019|
|Net movement<br>in group funds for the year|3,199,170|3 027 561|
|Depreciation|1,993,269|1,96S 876|
|'Net (gains) on investments|(2691,195)|(1424,245)|
|(Profit) on sale oftangible fixed assets|(7.889)|(18,952)|
|Associate share of(profit)|(1.024 85S)|(510209)|
|Dividends,<br>interest and rents from investments|(940,071)|(S84672)|
|De&ream (increase) in debtors|305,379|(724 775)|
|Decrease (increase) in stocks|111SS5|33 1S9|
|(Decrease) increase in creditors|(178,345)|(483 168)|
||767,345|983,605|



|||||2020|2019|
|---|---|---|---|---|---|
|Cash|on|short|term deposit|2,559,496|5,367,960|
|Cash|at|bank|and in hand|272,351|184,766|
|||||2,831,847|5,552,726|



||||||At start of|||
|---|---|---|---|---|---|---|---|
||||||year|Cash Flows|At End ofYear|
|Cash|||||5,552,726|(2,720,879)|2,831,847|
|Loans|falling|due|within|one year (refer to Note 12)|(6,210,660)|(812,880)|(7,023,540)|
|Loans|falling|due|after|one year|(8,312,500)||(8,312,500)|
||||||(8,970,434)|(3,533,759)|(12,504,193)|