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2020-12-31-accounts

Trustees Annual
Report		 Page Page
Reference and Administrative Details
Structure,
Governance
and		 Management
Objectives and Activities 5 —8
Achievements
and Performance		 9 —17
Financial
Review		 18 —19
Plans for Future Periods 20
Trustees
Responsibilities		 20
Financial Statements
Auditors
Report		 2'1 —24
Statement
of Financial
Activities		 25
Balance Sheet 26
Cash Flow Statement 27
Notes forming
part ofthe Financial Statements		 28- 39

Analysis
of Income and Expenditure		 Analysis
of Income and Expenditure
2016-20
Year Income Expenditure Surplus
I
(Deficit)
2016 F561,832 F753,302 P(191,470)
2017 P616,289 E1,256,407 E(640,118)
2018 626,224 f857,394 F(231,170)
2019 F622,301 F600,245 F22,056
2020 F565,944 f527,172 f38,772

Note General
Funds		 Restricted
Funds		 Endowment
Funds		 Total
2020		 Total
2019
INCOME AND ENDOWMENTS FROM 2
Donations
and legacies		 175 175
Investment
income		 265,381 10,383 158,197 433,961 493,697
Charitable
activities
Income from charitable
activities		 131,808 131,808 128,604
TOTAL 2397,364 E10,383 F158,197 F565,944 8622,301
EXPENDITURE ON
Raising funds 116,559 2,245 11,119 129,923 134,302
Charitable
activities		 361,520 361,520 430,002
Governance 35,729 35,729 35,941
TOTAL F513,808 E2,245 F11,119 f527,172 f600,245
NET INCOMING
RESOURCES
BEFORETRANSFERS (116,444) 8,138 147,078 38,772 22,056
Transfers
between
funds		 158,415 (158,415)
NET INCOMING
RESOURCES
BEFORE GAINS ON INVESTMENTS 41,971 8,138 (11,337) 38,772 22,056
Net gains
/ losses on revaluation
and disposal of investments 314,236 26,161 302,890 643,287 1,518,533
Net movement
in funds		 356,207 34,299 291,553 682,059 1,540,589
Total funds at 1st January 2020 F6,207,300 E1,578,717 E7,021,363 f14,807,380 f13,266,791
Total funds at 31st December 2020 E6,563,507 E1,613,016 f7,312,916 F15,489,439 F14,807,380

Note 2020 2019
FIXEDASSETS
Tangible assets 1,485,003 1,485,003
Investments 13,798,794 13,220,511
15,283,797 14,705,514
CURRENT ASSETS
Debtors and prepayments 34,201 34,299
Cash at bank and in hand 341,784 240,770
375,985 275,069
CURRENT LIABILITIES
Creditors: Amounts falling
due within one year 150,343 153,203
NET CURRENT ASSETS I LIABILITIES 225,642 121,866
TOTAL ASSETS LESSCURRENT LIABILITIES 15,509,439 14,827,380
LONG TERIVI LIABILITIES
Creditors: Amounts falling due
after more than one year 20,000 20,000
NET ASSETS f15,489,439 F14,807,380
CAPITAL FUNDS
Permanent
endowment		 10 7,312,916 7,021,363
INCOME
FUNDS
Restricted
funds		 11 1,613,016 1,578,717
General funds: 12
Designated 5,604,965 5,312,729
Reserves 958,542 894,571
E15,489,439 F14,807,380

Cash generated
from operating		 activities 2020 2019
Net income for the year
(as per the statement
of financial		 activities) 682,059 1,540,589
Adjustment
for:
Gain on investments (643,287) (1,518,533)
Investment
income		 (433,961) (493,697)
(Increase)/decrease
in debtors		 98 (16,569)
(Decrease)/increase
in creditors		 (2,860) (104,124)
Net cash used
in operating
activities		 (397,951) (592,334)
Cash flows from investing
activities:
Net sale of fixed asset investments 65,004 173,579
Interest and dividends 433,961 493,697
Net increase
in cash and cash equivalents		 101,014 74,942
Cash and cash equivalents
at the
year		 beginning ofthe 240,770 165,828
Cash and cash equivalents
at the end of		 the year F341,784 F240,770
Comprising:
Cash at bank an in hand F341,784 8240,770

Investment
income		 Investment
income		 2020 2019
Donations 175
Rental income 101,538 101,373
Dividends
and		 interest 332,423 392,324
F434,136 F493,697
Income from charitable activities 2020 2019
Weekly maintenance
contributions		 131,808 128,604
2131,808 2128,604
3. EXPENDITURE ON
Raising funds 2020 2019
FINANCIAL
INVESTMENTS
Investment
management		 fees 75.186 87,490
Support costs 11,445 11,053
INVESTMENT PROPERTIES
Maintenance
expenses		 10,642 3,517
Establishment expenses 6,236 7,257
Other costs 8,046 8,406
Legal fees 1,200
Support costs 11,445 11,053
WEEKLY MAINTENANCE CONTRIBUTIONS
Support costs 5,723 5,526
F129,923 F134,302

Charitable
activities		 Charitable
activities		 Charitable
activities		 2020 2019
GRANTMAKING
Grants awarded to organisations 99,983 148,021
Grants awarded to individuals 104,759 90,607
Support costs 28,613 27,632
ALMSHOUSES
Staff costs 26,009 25,932
Maintenance
expenses		 37,570 75,488
Establishment expenses 18,641 17,878
Other costs 17,332 16,812
Support costs 28,613 27,632
E361,520 E430,002
ANALYSIS OF GRANTS TO ORGANISATIONS 2020 2019
Health, social welfare and care 2,000
Sport, recreation and leisure 12,432 10,000
Education
and		 youth development 7,145 600
Voluntary
groups		 —Buildings 15,300 33,103
Voluntary
groups		 —Equipment 34,110 31,375
Voluntary
groups		 - Overheads 38,296 52,993
Faith 29,250
Community,
environment
and heritage		 1,200
Grants awarded but not taken up or withdrawn (7,300) (12,500)
899,983 F148,021
ANALYSIS OF GRANTS TO INDIVIDUALS 2020 2019
Relief in need 43,909 39,907
Bursaries 59,500 50,600
Education
and		 youth development 1,350 100
2104,759 290,607

Governance 2020 2019
Audit fees 4,920 4,680
Legal and professional fees 1,209
Trustees expenses
Other costs 2,196 2,420
Support costs 28,613 27,632
F35,729 F35,941
ANALYSIS OF SUPPORT COSTS 2020 2019
Clerk's remuneration (incl VAT) 111,360 105,000
Bank charges 457 301
Other costs 2,635 5,227
F114,452 F110,528

2020 2019
Wages and salaries 25,614 25,621
Social security costs
Pension contributions 395 311
F26,009 F25,932

6. TANGIBLE FIXEDASSETS
Freehold
Property		 Office
Equipment		 Total
Cost or valuation
At 1st January 2020 1,485,000 1,583 1,486,583
Additions
Disposals
Revaluation
At 31st December 2020 E1,485,000 F1,583 E1,486,583
Depreciation
At 1st January 2020 1,580 1,580
Charge for year
On disposals
At 31st December 2020 F1,580 E1,580
Net book value
At 31st December 2020 E1,485,000 F1,485,003
At 31st December 2019 E1,485,000 F1,485,003

inancial In vestments
LISTED
INVESTMENTS		 CASH TOTAL
Value at 1st January 2020 11,848,430 107,081 11,955,511
Acquisitions 2,020,037 (2,020,037)
Disposals (2,278,237) 2,278,237
Accumulated income 332,039 332,039
Management fees (75,187) (75,187)
Additional withdrawals (321,856) (321,856)
Net gains on revaluation and disposal 647,273 (3,986) 643,287
Value at 31st December 2020 212,237,503 f296,291 F12,533,794

INVESTMENT
PROPERTIES		 CASH TOTAL
Value at 1st January 2020 1,265,000 1,265,000
Acquisitions
Disposals
Cash introduced
Cash withdrawn
Revaluation
Value at 31st December 2020 E1,265,000 E1,265,000

2020 2019
Rental income due 15,042 18,561
Rushton Hickman rent deposit account 2,800
Prepayments 16,359 15,738
834,201 f34,299

Amounts
falling		 due within one year due within one year 2020 2019
Trade creditors 45,901 48,980
Grants payable 66,684 73,805
Deferred income —rents in advance 8,707 12,879
Other creditors 5,315 2,781
Accruals 23,736 14,758
F150,343 2153,203
Amounts
falling		 due after more than one year 2020 2019
Grants payable 20,000 20,000
E20,000 F20,000

At
01.01.20		 Incoming
resources		 Resources
expended		 Transfers Gains
/
Losses		 At
31.12.20
Almshouse Fund 1,028,020 1,028,020
Extraordinary Repair
Fund 550,697 10,383 (2,245) 26,161 584,996
F1,578,717 F10,383 E(2,245) F26,161 E1,613,016

General
Funds		 Restricted
Funds		 Endowment
Funds		 Total
Tangible
fixed assets
Almshouses 320,000 1,165,000 1,485,000
Office equipment 3
320,003 1,165,000 1,485,003
Fixed asset investments
Financial
investments		 6,042,436 448,016 6,043,342 12,533,794
Investment
properties		 1,265,000 1,265,000
6,042,436 448,016 7,308,342 13,798,794
Current assets
Debtors and prepayments 34,201 34,201
Cash at bank and
in hand		 337,210 4,574 341,784
371,411 4,574 375,985
Current
liabilities
Creditors: Amounts
falling
due within one year 150,343 150,343
150,343 150,343
Long term liabilities
Creditors: Amounts
falling
due after more than one year 20,000 20,000
20,000 20,000
Net assets F6,563,507 F1,613,016 E7,312,916 F15,489,439