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|Trustees Annual Report|Page|Page|
|---|---|---|
|Reference and Administrative Details|1
— 2||
|Structure, Governance and Management|3—4||
|Objectives and Activities|5
— 8||
|Achievements and Performance|9 —16||
|Financial Review|17|— 18|
|Plans for Future Periods|19||
|Trustees Responsibilities|19||
|Financial Statements|||
|Auditors Report|20|- 22|
|Statement of Financial Activities|23||
|Balance Sheet|24||
|Cash Flow Statement|25||
|Notes to the Cash Flow Statement|26||
|Notes forming part ofthe Financial Statements|27|- 39|
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||Analysis of Income and Expenditure|Analysis of Income and Expenditure||
|---|---|---|---|
|||2017-21||
|Year|Income|Expenditure|Surplus!
(Deficit)|
|2017|£616,289|£1,256,407|£(640,1 18)|
|2018|626,224|£857,394|£(231 ,170)|
|2019|£622301|£600,245|£22,056|
|2020|£565,944|£527,172|£38772|
|2021|£628,811|£559,309|£69,502|
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||||||2021|2020|
|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|Endowment|Total|Total|
|||funds|funds|fund|funds|funds|
||Notes|£|£|£|£|£|
|INCOME AND ENDOWMENTS|||||||
|FROM|||||||
|Donations and legacies|3|500|-|-|500|175|
|Charitable activities|||||||
|Almshouses|5|119,685|-|-|119,688|131,808|
|Investment income|4|303,479|12,308|192,836|508,623|433,961|
|Total||423,667|12,308|192,836|628,811|565,944|
|EXPENDITURE ON|||||||
|Raising funds|6|129,775|2,132|-|131,907|129,923|
|Charitable activities|7||||||
|Almshouses||143,589|-|-|143,589|128,165|
|Grantmaking||241,809|-|-|241,809|233,355|
|Govenance||42,004|||42,004|35,729|
|Total||557,177|2,132||559,309|527172|
|Net gains on investments||658,131|49,980|664,183|1,372,294|643,287|
|NET INCOME||524,621|60,156|857,019|1,441,796|682,059|
|Transfers between funds|19|192,836||(192,836)|-||
|Net movement in funds||717,457|60,156|664,183|1,441,796|682,059|
|RECONCILIATION OF FUNDS|||||||
|Total funds brought forward||6,563,507|1,613,016|7,312,916|15,489,439|14,807,380|
|TOTAL FUNDS CARRIED|||||||
|FORWARD||7,280,964|1,673,172|7,977,099|16,931,235|15,489,439|
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|||||||2021|2020|
|---|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|Endowment||Total|Total|
|||funds|funds|Fund||funds|lunds|
||Notes|£|£|£||2|£|
|FIXED ASSETS||||||||
|Tangible assets|13|320,003|1,165,000|-||1,485,003|1,485.003|
|Investments||||||||
|Investments|14|6,633,634|508,172|6,707,525||13,849,331|12,533,794|
|Investment pruperty|IS|-|-|1,265,000||1,265,000|1,265,000|
|||6,953,637|1,673,172|7,972,525||16,599,334|15,283,797|
|CURRENT ASSETS||||||||
|Debtors|16|26,237|-|-||26,237|34,201|
|Cash at bank and in hand||458,516||4,574|—|463,090|341,784|
|||484,753|-|4,574||489,327|375,985|
|CREDITORS||||||||
|Amounts falling due within one||||||||
|year|17|(137,426)|-|-||(137,426)|(150,343)|
|NET CURRENT ASSETS||347,||4,574||351,901|225,642|
|TOTAL ASSETS LESS||||||||
|CURRENT LIABILITIES||7,300,964|1,673,172|7,977,099||16,951,235|15,509,439|
|CREDITORS||||||||
|Amounts falling due after more||||||||
|than one year|18|(20,000)|-|-||(20,000)|(20,000)|
|NET ASSETS||7,280,964|1,673,172|7,977,099||16,931,235|15,489,439|
|FUNDS|19|||||||
|Unrestricted funds||||||7,280,964|6,563,507|
|Restricted funds||||||1,673,172|1,613,016|
|Endowment funds||||||7,977,099|7,312,916|
|TOTAL FUNDS||||||16,931,235|15,489,439|
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|||2021|2020|
|---|---|---|---|
||Notes|£|£|
|Cash flows from operating activities||||
|Cash generated from operations|1|(528,237)|(443,491)|
|Net cash used in operating activities||(528,237)|(443,491)|
|Cash flows from investing activities||||
|Sale of fixed asset investments||56,757|65,004|
|Interest received||399,950|332,423|
|Net cash provided by investing activities||456,707|397,427|
|Cash flows from financing activities||||
|Income attributable to endowment||192,836|158197|
|Expenditure attributable to endowment||-|(11,119)|
|Net cash provided by financing activities||192,836|147,078|
|Change in cash and cash equivalents in||||
|the reporting period||121,306|101,014|
|Cash and cash equivalents at the||||
|beginning ofthe reporting period||341,784|240,770|
|Cash and cash equivalents at the end of||||
|the reporting period||463,090|341.784|
##
|1.|RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING|ACTIVITIES||
|---|---|---|---|
|||2021|2020|
|||£|£|
||Net income for the reporting period (as per the Statement of Financial|||
||Activities)|1441796|682,059|
||Adjustments for:|||
||Gain on investments|(1,372,294)|(643,287)|
||Interest received|(399,950)|(332,423)|
||Income attributable to endowment|(192,836)|(158,197)|
||Expenditure attributable to endowment||11,119|
||Decrease in debtors|7,964|98|
||Decrease in creditors|(12,917)|(2,860)|
||Net cash used in operations|(528,237)|(443491)|
|2.|ANALYSIS OF CHANGES IN NET FUNDS||||
|---|---|---|---|---|
|||At 111/21|Cash flow|At 31/12/21|
|||£|£|£|
||Net cash||||
||Cash at bank and in hand|341,784|121,306|463,090|
|||341,784|121,306|463,090|
||Total|341,784|121,306|463,090|
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|||||
|---|---|---|---|
|Raising funds|||25%|
||Financial investments|10%||
||Investment properties|10%||
||Weekly maintenance contributions|5%||
|Charitable activities|||50%|
||Grantmaking|25%||
||Almshouses|25%||
|Governance|||25%|
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|3.|DONATIONS AND LEGACIES|||
|---|---|---|---|
|||2021|2020|
|||£|£|
||Donations|500|175|
|4.|INVESTMENT INCOME|||
|||2021|2020|
|||£|£|
||Rents received|108,673|101538|
||Dividends and interest|399,950|332,423|
|||508,623|433,961|
|5.|INCOME FROM CHARITABLE ACTIVITIES|||
|||2021|2020|
||||Total|
|||Almshouses|activities|
|||£|£|
||Weekly maintenance contributions|119,688|131,808|
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|6.|RAISING FUNDS|||
|---|---|---|---|
||Raising donations and legacies|||
|||2021|2020|
|||£|£|
||Investment management fees|69,066|75186|
||Maintenance expenses|16,246|10,642|
||Establishment expenses|8,482|6,236|
||Othercosts|8,040|8,046|
||Legal fees|1,209|1,200|
|||103,043|101,310|
||Othertrading activities|||
|||2021|2020|
|||£|£|
||Support costs|17,318|17,168|
||Investment management costs|||
|||2021|2020|
|||£|£|
||Supportcosts|11,546|11,445|
||Aggregate amounts|131,907|129,923|
|7.|CHARITABLE ACTIVITIES COSTS|||
|7.|CHARITABLE ACTIVITIES COSTS|||||
|---|---|---|---|---|---|
||||Grant|||
||||funding of|||
||||activities|Support||
|||Direct|(see note|costs (see||
|||Costs|8)|note 9)|Totals|
|||£|£|£|£|
||Almshouses|114,725||28,864|143,589|
||Grantmaking|-|212,945|28,864|241,809|
||Govenance|||42,004|42,004|
|||114,725|212,945|99,732|427,402|
|8.|GRANTS PAYABLE|||||
|||||2021|2020|
|||||£|£|
||Grantmaking|||212,945|204,742|
##
|The total grants p|aid to institutions during the year was as follows:|||
|---|---|---|---|
|||2021|2020|
|||£|£|
|Sport, recreation|and leisure|25450|12,432|
|Education and youth development||31575|7,145|
|Voluntary groups|- Buildings|14,820|15.300|
|Voluntary groups|- Equipment|7,918|34,110|
|Voluntary groups|- Overheads|4,500|38,296|
|Faith||9,000||
|Grants awarded but not taken up or withdrawn||(5.992)|(7,300)|
|||87,271|99,983|
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|SUPPORT COSTS||||
|---|---|---|---|
|||Governance||
||Management|costs|Totals|
||£|£|£|
|Other trading activities|17,318|-|17,318|
|Investment management costs|11,546|-|11,546|
|Almshouses|28,864|-|28,864|
|Grantmaking|28,864|-|28,864|
|Govenance|28,864|13,140|42,004|
||115,456|13,140|128,596|
|Support costs, included in the above|, are as follows:||||
|---|---|---|---|---|
|||Other|Investment||
|||trading|management||
|||activities|costs|Almshouses|
|||£|£|£|
|Clerk’s remuneration||16,704|11,136|27,840|
|Bank charges||72|48|120|
|Other costs||542|362|904|
|Auditors’ remuneration||-|-||
|Othercosts|||||
|||17,316|11,546|28,864|
||||2021|2020|
||||Total|Total|
||Grantmaking|Govenance|activities|activities|
||£|£|£|£|
|Clerk’s remuneration|27,840|27,840|111,360|111,360|
|Bank charges|120|120|480|457|
|Other costs|904|904|3,616|2,635|
|Auditors’ remuneration|-|10,800|10,800|4,920|
|Other costs|-|2,340|2,340|2,196|
||28,864|42,004|128,596|121,568|
##
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|STAFF COSTS|||
|---|---|---|
||2021|2020|
||£|£|
|Wages and salaries|27,521|25,614|
|Other pension costs|432|395|
||27,953|26,009|
|The average monthly number of employees during the yearwas as follows:|||
||2021|2020|
|‘:Vardens (part- time)|2|2|
|||Unrestricted|Restricted|Endowment|Total|
|---|---|---|---|---|---|
|||funds|funds|fund|funds|
|||£|£|£|£|
|INCOME AND ENDOWMENTS FROM||||||
|Donations and legacies||175|-|-|175|
|Charitable activities||||||
|Almshouses||131,808|-|-|131,808|
|Investment income||265,381|10,383|158,197|433,961|
|Total|—|397,364|10,383|158,197|565,944|
|EXPENDITURE ON||||||
|Raising funds||116,559|2,245|11,119|129,923|
|Charitable activities||||||
|Almshouses||128,165|-|-|128,165|
|Grantmaking||233,355|-|-|233.355|
|Govenance||35,729|||35.729|
|Total||513,808|2,245|11,119|527.172|
|Net gains on investments||314,236|26,161|302,890|643,287|
|NET INCOME||197,792|34,299|449,968|682,059|
|Transfers between funds||158,415||(158,415)||
|Net movement in funds||356,207|34,299|291,553|682,059|
##
|12.|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued||
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Endowment|Total|
|||funds|funds|fund|funds|
|||£|£|£|£|
||RECONCILIATION OF FUNDS|||||
||Total funds brought forward|6,207,300|1,578,717|7,021,363|14,807,380|
||TOTAL FUNDS CARRIED FORWARD|6,563,507|1,613,016|7,312,916|15,489,439|
|13,|TANGIBLE FIXED ASSETS|||||
||||Freehold|Computer||
||||property|equipment|Totals|
||||£|£|£|
||COST|||||
||At 1 January 2021 and 31 December 2021||1,485,000|1,583|1,486,583|
||DEPRECIATION|||||
||Ati January2021 and 31 December2021|||1,580|1,580|
||NET BOOK VALUE|||||
||At 31 December 2021||1,485,000|3|1,485,003|
||At 31 December 2020||1,485,000|3|1,485,003|
##
|FIXED ASSET INVESTMENTS||||
|---|---|---|---|
|||Cash and||
||Listed|settlements||
||investments|pending|Totals|
||£|£|£|
|MARKET VALUE||||
|At 1 January 2021|12,237,503|296,291|12,533,794|
|Additions|1,006,367|(1,006,367)|-|
|Disposals|(971,634)|971,634|-|
|Revaluations|1,372,294|-|1,372,294|
|Accumulated income|-|399,909|399,909|
|Management fees|-|(69,066)|(69,066)|
|Withdrawals|-|(387,600)|(387,600)|
|At 31 December 2021|13,644,530|204,801|13,849,331|
|NET BOOK VALUE||||
|At 31 December 2021|13,64.4.530|204,801|13,849,331|
|At 31 December2020|12,237,503|296,291|12,533,794|
|INVESTMENT PROPERTY||
|---|---|
||£|
|FAIR VALUE||
|At 1 January 2021||
|and 31 December 2021|1265,000|
|NET BOOK VALUE||
|At 31 December 2021|1.265,000|
|At 31 December 2020|1265,000|
||2021|2020|
|---|---|---|
||£|£|
|Rental income due|18,375|15042|
|Rental deposits|3,345|2,800|
|Prepayments|4,517|16,350|
||26,237|34,201|
##
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|17.|CREDITORS; AM|OUNTS FALLING D|UE WITHIN ONE YEAR||||
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||£|£|
||Trade creditors||||36652|45,901|
||Social security and other taxes||||508||
||Grants payable||||53059|66,684|
||Deferred income|- rents in advance|||10,288|8,707|
||Othercreditors||||5,460|5,315|
||Accruals and deferred income||||31,459|23,736|
||||||137,426|150,343|
|18.|CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN|||ONE YEAR|||
||||||2021|2020|
||||||£|£|
||Grants payable||||20,000|20,000|
|19.|MOVEMENT IN FUNDS||||||
|||||Net|Transfers||
|||||movement|between|At|
||||At 1/1121|in funds|funds|31/12/21|
||||£|£|£|£|
||Unrestricted funds||||||
||General fund||958,542|(111,510)|192,836|1,039,868|
||Almshouses fund||320,000|-|-|320,000|
||Extraordinary Repafr Tap-up fund||259,940|-|-|259,940|
||Cyclical Maintenance fund||41,970|(22,000)|-|19,970|
||Grants fund||4,983,055|658,131||5,641,186|
||||6,563,507|524,621|192,836|7,260,964|
||Restricted funds||||||
||Almshouse fund||1,028,020|-|-|1,028,020|
||Extraordinary Repair fund||584,996|60,156||645,152|
||||1,613,016|60,156|-|1,673,172|
||Endowment funds||||||
||Capital fund||7,312,916|857,019|(192,836)|7,977,099|
||TOTAL FUNDS||15,489,439|1,441,796|-|16,931,235|
##
|Net movement in funds, included in the|above are as follows:||||
|---|---|---|---|---|
||Incoming|Resources|Gains and|Movement|
||resources|expended|losses|in lunds|
||£|£|£|£|
|Unrestricted funds|||||
|General fund|423667|(535,177)|-|(111510)|
|Cyclical Maintenance fund|-|(22000)|-|(22,000)|
|Grants fund|-|-|658,131|658,131|
||423,667|(557,177)|658,131|524,621|
|Restricted funds|||||
|Extraordinary Repair fund|12,308|(2,132)|49,980|60,156|
|Endowment funds|||||
|Capital fund|192,836||664,183|857,019|
|TOTAL FUNDS|626,811|(559,309)|1,372,294|1,441,796|
|Comparatives for movement in funds|||||
|---|---|---|---|---|
|||Net|Transfers||
|||movement|between|At|
||At 1/1/20|in funds|funds|31/12/20|
||£|£|£|£|
|Unrestricted funds|||||
|General fund|894571|(94,444)|158415|958,542|
|Almshouses fund|320,000|-|-|320,000|
|Extraordinary Repair Top-up fund|259,940|-|-|259,940|
|Cyclical Maintenance fund|63,970|(22,000)|-|41,970|
|Grants fund|4,668,819|314,236||4,983,055|
||6,207,300|197,792|158,415|6,563,507|
|Restricted funds|||||
|Almshouse fund|1,028,020|-|-|1,028,020|
|Extraordinary Repair fund|550,697|34,299||584,996|
||1,578,717|34,299|-|1,613,016|
|Endowment funds|||||
|Capital fund|7021363|449,968|(158,415)|7,312,916|
|TOTAL FUNDS|14,807,380|682,059|-|15.489,439|
##
||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|in funds|
||£|£|£|£|
|Unrestricted funds|||||
|General fund|397,364|(491808)|-|(94,444)|
|Cyclical Maintenance fund|-|(22,000)|-|(22,000)|
|Grants fund|-||314,236|314,236|
||397,364|(513,808)|314,236|197,792|
|Restricted funds|||||
|Extraordinary Repairfund|10,383|(2,245)|26,161|34,299|
|Endowment funds|||||
|Capital fund|158,197|(11,119)|302,890|449,968|
|TOTAL FUNDS|565,944|(527,172)|643287|682,059|
|A current year 12 months and prior year 1|2 months combined p|osition is as follow|s:||
|---|---|---|---|---|
|||Net|Transfers||
|||movement|between|At|
||At 1/1/20|in funds|funds|31/12/21|
||£|£|£|£|
|Unrestricted funds|||||
|General fund|804,571|(205,954)|351,251|1,039,868|
|Almshouses fund|320,000||-|320,000|
|Extraordinary Repair Top-up fund|259,940|-|-|259,940|
|Cyclical Maintenance fund|63,970|(44,000)|-|19,970|
|Grants fund|4,668,819|972,367||5,641,186|
||6,207,300|722,413|351,251|7,280,964|
|Restricted funds|||||
|Almshouse fund|1,028,020|-|-|1,028,020|
|Extraordinary Repair fund|550,697|94,455||645,152|
||1,578,717|94,455|-|1,673,172|
|Endowment funds|||||
|Capital fund|7,021,363|1,306,987|(351 251)|7,977,099|
|TOTAL FUNDS|14,807,380|2,123,855||16,931,235|
##
|as follows:|||||
|---|---|---|---|---|
||Incoming|Resources|Gains and|Movement|
||resources|expended|losses|in funds|
||£|£|£|£|
|Unrestricted funds|||||
|General fund|821031|(1026,985)|-|(205,954)|
|Cyclical Maintenance fund|-|(44,000)|-|(44,000)|
|Grants fund|-|-|972,367|972,367|
||821.031|(1.070,985)|972,367|722,413|
|Restricted funds|||||
|Extraordinary Repair fund|22,691|(4.377)|76,141|94,455|
|Endowment funds|||||
|Capital fund|351,033|(11,119)|967,073|1,306.987|
|TOTAL FUNDS|1.194,755|(1,086.481)|2,015.581|2,123855|
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