Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 Charity registration number 242677 MR & MRS J A PYE'S CHARITABLE SETTLEMENT ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SEThLEMENT LEGAL AND ADMINISTRATIVE INFORMATION Trustees PAR MulcaTe G Flint V Buzzard Charlty number 242677 Administrative office Crf(chleys Audit LLP 8eaver House 23-38 Hythe Bridge Street Oxford OX1 2EP Audltors Griffin Stone Moscrop & Co 21~27 Lamb's Conduit Street London WC1N 3GS Bank•rs National stMnSter Bank plc 32 Commarket Street Oxford OX1 3HQ Sollcltors Knhts Professional Services Limrted Midland House Wesl Way Botley Oxford OX2 OPH clasle9*1 LLP One Forbury Square 1 The Forbury Reading Berkshire RG1 3E8 Investment advisors Punter Southall Wealth The Capital Building 12-13 Sl Andrew Square Edinburgh EH2 2AF Propgrty managers Ministar Services Limited 14 John Dickinson Centre London Road Apsley HP3 3QU
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SETTLEMENT LEGAL AND ADMINISTRATIVE INFORMATION Grants Adminlstrator Lucy McCallum-Tcypin Springfield Faiingdon Road Soulhmoor Oxfordshire OX13 5NX
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SETTLEMENT CONTENTS Page Trustees, report Statement of trustees, respL)nsibilities Independent auditors, report Statement of financkAI activities Balanrk sheet 10 Statement of cash flows Notes to the finanGio1 stalements 12-25
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SELEMENT TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 The trustees present their annual report and financial slalements for the year ended 31 December 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Settlement's Trust Deed, the Charities Act 2011 and "Accounting and Reporting by Charities". Statement of Recommended Practic8 applicable lo charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 {effective 1 January 20191" Objectives and activities The Sethemenl's objects are general charitabl& objectives. The overall policy of the trustees is lo support under-funded charities in their fields of interest in order lo assist those charitres lo play a fuller role in the community. Unfortunately, due to the demands made il is not possible to support 811 applications even though they may meet the charity's criteria. However, the trustees particular recognise the drfficulty many smaller charities experience in obtaining core fullding in order lo operate efficiently in today's demanding environment. In addition major support is given to a limited number of causes in the fields of environrnent, music, education and medicine. This approach has been rewarded ty significant results obtained by beneficiaries. The Settlement's website describes Its grant-making wlicy and applicants are encnuraged lo sènd their applications eleGtronically using the Settlement's email address.. Cha lem nl rnail.com. In making grants the trustees seek lo continue the settlor8' inte5t$ whib expanding them to encompass other causes. They focus their granl-making on Oxfordshire and its surrounds whilst continuing their support lo charitable causes espoused by the Pye famity and individual trustees. The fc41owing list is by no means exhaustive and is given for guidance only-. Environmental This subject particularly deals with organic farming matters, conservation generally and heatth related matters such as pollution research and some wildlifo protection. Educatlon Nursery, Primary, Seeondary or Higher Institutions Inol indNidualsl. Allevlation of Hardship This includes cau*s cortrrned wllh poverty, haallh and care generally. The trustees have paid due regard lo guidance issued by the Charity Commission in deciding what aclivrties the Settlement should undertake. By making grants lo other charitsble causes, the trustees ensure that their objectives for public benefit are met. Due to the size of the Setuemenl, the trustees mostly restrict the grants lo charities operating in Oxfordshire and the surrounding areas as they feel that in this way they are able lo make a more significant contribution lo the communities in the area. Applications from nat)nal charities with a Specif project within the sel area a also welcomed. The trustees outline elsewhere in the trustees, report the main areas that they tend to support, but all donation requests will be considered. Due to the varied interests of the settlors and the CLJrrent tru51e@s, a wide variety of causes are supported, thus making sure that the ben8fits reach people of all bad(grounds. The Irusloes are particulaily keen lo supp¢)tt smaller charities that may struggle lo find funding for worthwhile project$, many of which have a very direct impact on the people within which the eommunity the charity operates. The trustees review the activities of the donees on a regular basis, giving due regard lo the guidance published by the Charity Commission on publ+c benefit. The Settlement does not hold any funds as a custodian trustee.
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SETTLEMENT TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Achievements and perforrnanco Grants In the year under review, grants amounting lo £452,05412020.. £478,250) have been made to 10812020-. 1181 charities concerned with environmental matters, educab.on and the alleviation of hardship. As many of the organisations the Settlement supports fall within more than one ol the above categories, the trustees feel that it is more meaningful to provide a list of all Tecipients who have benefited from grants of £501 or more in 2021 and 2020 and consequently no separate list of the grants classified by the activities being funded is included in the financial statements. As di$c105ed al the end of note 6 the trustees have a forward programme of grants lo be wholly funded out of future income. It is the policy to make clear to all beneficiary charities that forward grant programmes are always subject tr) annual reconsideration and therefore cannot be relied upon until confirrned by the trusteès on an annual basis. In view of this policy and practice the trustees are of the opinion that any CognItion of this forward programme in the financial ststemenls, other than as disclosed in note 6. would be misleading. Financial review In comparison with 2020 the Settlement's totsl income decreased by £69,012 during the year. Income from the investment portfolio de¢reased by £7,140 and rental income from investment properties decreased by £60,430. Grants decreased by £28,1 and other expenditure increased by £11,774. The trustees continue lo keep their costs of administration and those of the property portfolio under review in order lo avoid duplieation, engaging appropriate expertise and saving costs. Reserves policy The trustees have established a reserves policy. whereby 50/0 of the annual rental income is sel aside for any improvements and capital expenditure required for the Maiden Lane Shopping Centre. This is so that the trustees may manage their investment in Maiden Lone Shopping Centre proactively, wilhoul affecting their ability lo meet their charitable objectives. The balance on thi5 reserve at 31 December 2021 is £150,641. Following the receipt in 2016 of a donation of £525,000 from the late Mrs Yvonne Pye, the trustees resolved to maintain a fund from which they would award grants to eAuses in which Mrs Pye had indicated an interest. Al the Trustees meeting on 24 June 2021 il was agreed to undesignate the fund which at the lime lolalled £194.266. Subject lo this the trustees do not feel thal any other reserves are required at present. Investment policy and perfomiance Investment policy for the combined equity and bond portfolios under discretsonary management is to maintain the real value of the capital invested and, subject to this, lo generate income to satisfy CLJrrent and anticipated donations to the Settlement's beneficiaries. The value of the Sètuement's investments at 31 December 2021 Stood al £8.715,738 12020.. £8,137.0551. The trustees have no special policy on social. environmental or ethical considerations. Risk assessmènt and management The trustees has assessed the major risks lo which the Settlement is exposed, and are satisfied that systems are in place to mitigate exposure lo the major risks.
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SEThLEMENT TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 The trustees keep under reVW the risks of maintaining the integrity of the fund and have concluded that there are no untoward risks in the approach and management of the Settlement. In condu¢ting this review they considered particularly the areas of fraud, the policy of holding the portfolio in nominee names, and investment policy as executed by managers. The managers provide an annual independent security report lo th¢ trustees. Since it is directed to institutions regulated by the Charity Commission and supplemented by assessments by the Grants Administrator, the trustees consider they have minimised any risk in their distribution policy. The trustees have considered their risks particularly in relation to the COVID-19 pandemic and consider this to be a medium-term consideration and of medium risk as the property portfolio generating income has some tenants who are key ffttailers and have remained open throughout, whilst others have been required lo close in accordance with Government guidelines. The general business environmonl iemains challenging for many tenants. The trustees will continue lo monitor this situation and revise their consideration5 accordingly. Plans for the futurè The trustees plan lo continue their present mode of operating as outlined in the report. structuro, goveman¢g and managemont The Settlement is a Registered Charity (No.. 2426771 constituted by a Trust Deed made 5 March 1g65 between the late Mr and Mrs J A Pye and the original Iruslees (Mr G C Pye, Mr G W F Archer and Mr R H Langdon-Daviesl under which the trust fund together with the income from il is held for the benefit of such charitable purposes as the trustees shall select. Following the dealhs of the selllors the power lo appoit)I new Iruslees is vested in the trustees for the lime being. The trustees who served during the year and up to the dale of signature of the financral slatsments were= PA R Mukare G Flint V Buzzard The trustees administer the Settlement. They have no fixed retirement dale_ The Iruslees undergo training either through courses or functional experien. New trustees are inducted in the same way. Decisions of the trustees are tsken by them at their regular meetings which are held al least four limes a year. Thè bijsiness of thè meetings is to review the affairs of the Settlement and to consider the awarding of grants. Applications for grants are sent, in the fir51 instance, to the Grants Administrator, Mrs Lucy McCallum-Toppin, who then presents them, tcyjether with her assessment, for discussion at Iruslees, meetings. The Grants Administrator arranges for the payment of grants and is involved in Corresponden and meeb'ngs with nefieiary tharilies. On an annual basis one or more of the Iruslees me81 representatives of all beneficiaries receiving major awards and rgports are received from other beneficiaries. Safeguarding The Setuement confines its charitable activities to the awarding of grants to other charitable organisalDns. It is the trustees, policy to ensure that the recipients of rt5 grants have safeguarding policies in pla in accordance with Charity Commission guidelines. Payment of staff sin they currently have no stsff the trustees have not felt it necèssary lo adopt a policy for théir paymant. Handlln9 of complaints 11 is the trustees, p)licy for complaints to be considered al their meetings.
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SETTLEMENT TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 The tru8tees' report was approved ty the Board of Trustees and signed on its behalf by.. PA R Mulcare Trustee Dated.. I .
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SEThLEMENT STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2021 The Iruslees ar8 sponSible for preparing the Trustees, Report and the finanoal Statements in accordance with applicable law and United lQ'ngdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law 8pplicable to Gharities in England and Wales requires the tsuslees to prepare financial statements for each financial year which give a true and fair view of the stsle of affairs of the Selllement and of the incoming resources and application of resourees of the Settlement for that year. In preparing these financial statements. the trustees are required to.. select suitable accounting poIleS and then apply them consistently. observe the methods and principles in the Charities SORP., make judgements and esb'mates that are reasonable and prudent., slate whether applicabk accounting standards have been followed. subject to any material departures disdosed and explained in the financial statements", and prepare the financial slalemenls on the going con¢em basis unless it 1$ inappropriate to presume that the charity will continLJe in operation The Iruslees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any lime the financial position of the Settlernent and enable them lo ensure that the financial statements comply with the Charities Act 2011, the Charty (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Selllemenl and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SETTLEMENT INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF MR & MRS J A PYE'S CHARITABLE SErrLEMENT Opinlon We have audited the financial statements of Mr & Mrs J A Pye's Charitable Settlement Ilhe 'Settlemenl'l for the year ended 31 D8mber 2021 which comprise the statement of financial activities, the balance sheet, the slalement of cash flows and notes lo the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Acwunting Standards, including Financial Reporting Standard 102 The Fin8nci81 Reporting Standard applicable in the UK and Republic of Ire18rtd Iuniled Kingdom Generalty Accepted Accounting Practice}. In our opinion, the financial 8tatemenls'. give a true and fair view of the state of the Settlement's affairs as at 31 December 2021 and of ils incoming resources and application of resources, for the year then ended.. have been properly prepared in accordance with United Kingdom Generally Atpted Accounting Practice.. and have been prePad in accordance wf(h the requirements of the Charities Act 2011. Basls for oplnion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors, spOnsibl11t1eS for the 8udrf of the financial stalernerpls se¢tion of our report. We are independent of the Settlement in accordance with the eihical requirements that are relevant to our audit of the fiiiancial slateinents in the UK, inGluding the FRC, Ethical Standard, and we have fulfilled our other ethic81 responsibilities in accordance with these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate to provide a basts for our opinion. Conclusions relating to going concern In auditing the financial statements. we have concluded that the trustees. use of the going conr basis of accounting in the preparation of the financial statements is appropriate. Based on the worfi we have perfomed, we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, may east signifieant doubt on the Settlement's ability lo conlinue as a going concem for a period of al least e1Ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other infomiation The other information comprises the information included in the annual report other than the financial statements and our auditors, report Ihereon. The Iruslees are responsible for the other Information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other infomation is m*erially inconsislenl with the financial slalemenls or our knowledge cl)lained in the course of the audit. or otherwise appears to be materially misstated. If we identify such material inconsistencie5 Qr apparent material missiatements, we are required to determine whether this gives iise lo a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there Is a material misstalemenl of this other information, we are required lo report that fact. We have nothing to report in this regard.
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SETTLEMENT INDEPENDENT AUDITORS. REPORT (CONTINUED) TO THE TRUSTEES OF MR & MRS J A PYE'S CHARITABLE SETTLEMENT Mattors on whlch we arg required to report by exception We have nothing lo report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion." the Infom)ation given in the financial statements is inconsistent in any material rgSPèCt with the truste¢s' repoit", or sufficient accounting records have not been kept., or the financial statements are not in agreement with the accounting records,. or we have not reiVed all the information and explanations we require for our audit. Rgsponsibilities of trustees As explained more fully in the statement of Iruslees, responsibilities. the trustees are responsib for the preparation of the financial statements and for being t1$fIed that they give a true and fair view, and for such internal control as the trustees determine is necessary lo enable the preparation of financial stalemonls that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Iruslees are responsible for assessing the Settlement's ability lo continue as a going concern, disclosing, as applicable, matters related to going concem and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but lo do so. Auditor's re8ponsibilities for the audit of the financial statements We have been appointed as audttor under section 144 of the Charities Act 2011 and report in accordan with the Act and relevant regulations madè or having effect Ihereunder. Our objectives ar@ to obtain reasonable assurance about whether the financi81 statements as a whole are free from material misslalement, whether due lo fraud or error. and to issue an auditors, report that includes our opinion. Reasonable assuran is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS {UK} will always delect a material misslalement when it exists. Misstatement3 can arise from fraud or error and are Considered material if, individually or in the 8ggreg8te, they could reasonably be eXCted lo influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design pr¢)cedures in line with our responsibilities, outlined above, to detect material misstalemenls in respect of irregularities, including fraud. The extent lo which our procedures are capable of detecting irregularities, including fraud, is detailed below. Perfoming audit work over the risk of managemènt ovarrido of eDnlrols, ineluding te8ting of journal entries at*d other adjustments for appropriateness, evaluating the rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias,. Carrying out subslanlive checking lo supporting documentstion, on a Sample basis. of individual transactions within income and expendiluo to give comfort that the statement of financial activities does not contain any irregular items. Verfying that material balances within the balan sheet are supported by third paty evidence to confim) existence and valuation at the balance sheet date., Enquiry of management and those charged with g)vemance around actual and potential litigation and claims., and Reviewing minutes of trustee meetings. Because of the inherent limitations of an audit, there is a risk that we will not delect all irregularities, including those leading to a material misstatement in tha financial statements or non-compliance with regulation. This risk ncreases the more that compliance with a law or regulation is removed from the events and transactions reflacted in the financial stalemenls, as we will less likely lo become aware of instances of non-complian. The risk is also greater regarding irregularities occurring due lo fraud rather than erior, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SETTLEMENT INDEPENDENT AUDITORS. REPORT (CONTINUED) TO THE TRUSTEES OF MR & MRS J A PYE'S CHARITABLE SETTLEMENT As part of an audit in accordance with ISAS (UKI, w8 exercise prOfeSonal Judgennt and maintain professional scepticism throughout the audit. We also.. Identfy and assess Ihe risks of material misstatement of the financial statements, whetheT due to fraud OT error, design and perform audit procedures responsive to those risKs, and obtain audlt evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misststement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery. intentional ¢Jmissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant lo the audit in order to design audit procedures that are appropriate in the circumstances. but not for the purpose of expressing an opinion on the effectiveness of the Settlement's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting e51im8tes and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a malerfal uncertainty exists related to events or conditions that may cast significant doubt on the Settlement's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors, report lo the related disclosures in the financial statements or. rf such disclosures are inadequate. lo modify our opinion. Our conclusions ar8 based on the audit evidence obtained up to the dale of our auditors, report However, future events or conditions may cause the S&ttlement to cease lo continue as a going concern. Evaluate the overall presentation, structure and content of the financial stalemenls, including the diselosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation lie. gives a true and faiT view). We communicate wrth those charged with governance regarding, among other matters, the planned scope and liming of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report This report is made solely to the Settl8ment's trustee5, as a body, in accordance with part 4 of Ihe Charrties IAccounts and Reports) Regulations 2008. Our audit work has been undertaken $0 that we might State to tho Selllement's trustees those matters we are reqLJired to $tal8 lo them in an auditors. report and for no other purpose. To the fvllest extent pemiilled by law, we do not accept or assume responsibility to anyone other than the Setuemenl and the Setuement's trustees as a body, for our audit work, for this report. or for the opinions we have formed. 24/612022 Grlffin Stone Moscrop & Co Chartgrgd Accountants SL7tutory Auditors 21-27 Lamb's Conduit Street London WC1N 3GS Griffin Stone Moscrop & Co is eligible for appointment as auditor of the Settlement by virtue of its eligibility for appointment as auditor of 8 company under section 1212 of the Companies Act 2006.
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SETTLEMENT STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021 Unrestricted UnreBtrict•d funds funds 2021 2020 Income from investments 618,054 685.066 Expendrture on raising funds 95,251 83,394 Expenditure on charitable activities 486.389 512,668 Total expenditure 581,640 596,062 Nel gainslllossesl on investments 619.605 85,688 Net movement in funds 654,019 174,692 Fund balanos al 1 January 2021 14,554,642 14,379,950 Fund balances at 31 December 2021 15,208,661 14,554,e42 The statement of financial activities includes all gains and1088es recognised in the year. All income and expenditure derives from continuing actwilies.
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SETTLEMENT BALANCE SHEET ASAT31 DECEMBER 2021 2021 2020 Notes Fixed a888t8 Investment properties Investments 10 11 6,157,100 8,715.738 6,157,100 8,137,055 14,872,838 14,294,155 Current assets Debtors Cash al bank and in hand 14 25,935 401,925 71,048 305,991 427,860 377,039 Creditors: amounts falling duo wlthln ono year 15 {92,0371 1116.552) Nel ¢urrent assets 335,823 260,487 Not assots 15,208,661 14,554,642 Incomg funds Designated funds.. Maiden Lane reserve Yvonne Pye reserve 150,641 129.622 194,266 17 150,641 15.058,020 323,888 14,230,754 General unrestricted funds Total funds 15,208,661 14,554,642 The financial statements were approved by the Trustees on .11.....¢.. 2021 PAR Mulcare Trust00 V Buzzard Tru8tee Trustee 10-
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SELEMENT STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021 2021 2020 Notes Cash flows from operatlng activitie8 Cash absorbed by Operatjr 19 1561,0421 1629.5981 Cash flows from investing #ctivities Purchase of investments Proceeds on disposal of investments Investment ineome received 15,329,170) 5,370,092 616,054 12,930,408} 2,967,945 685,066 Net cash generated from investing activiti8$ 656,976 722,603 Ngt ¢a8h used in financing a¢tlvitles Net incrèase In cash and cash gqulvalents 95,934 93,005 Cash and e8sh equival8nts al beginning of year 305,991 212,986 Cash and cash gquivalont8 at end of year 401,925 305,991 11
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SEThLEMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting pollcles Charlty infomiation Mr & Mrs J A Pye's ChaTit#ble Settlemont is a fegistèred charity. It is registered with Ihe England and Wales Charity Commission. Its administrative office address is Crilchleys LLP, Beaver House. 23-38 Hythe Bridge street, Oxford, OXI 2EP. 1.1 Accounting convention The financial statements have been prepared In accordance with the seteMent's Trust Deed, the Charities Act 2011, "Accounting and Reporting by Charities.. Statement of Recommended Practicè applicable to charities preparing their accounts in a¢¢ordanTr with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191" and the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021. The Settlement is a Public Benefit Entity 8s defined by FRS 102. The financial stslemenls have been prepared lo give a "true and fai¢, view and have departed from the Charities IAccounls and Reports) Regul*ions 2008 only to the extent required to provide a "tTue and fairf, view. This departure has involved following Accounting and Rewrting by Charities.. Statement of Recommended practi applicable to eharilies preparing their accounts in accordance with the Financial Reporiing Stsndard applicable in the UK and Republic of Ireland IFRS 1021 issued in October 2019 rather than Accounting and Reporting by Charities.. Slalemenl of Recommended PraGtice effeclNe from 1 April 2005 which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the Setuement. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the histOTical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are sel out below. 1.2 Accounting estlmates The preparation of financial ststements in Complian with the Charities SORP {FRS 1021 requires the use of certain critical accourrting estimates. 11 also requires management to exercise judgement in applying the charity's aGcL)unting policies. 1.3 Going concern Al the time of approving the financial slalements, the trustees have B reasonabl8 expectation that the Settlement has adequate resources lo continue in oper8tk)nal existencè for the foreseeable future. Thus the trustee5 continue lo adopt the g)ing concem basis of accounting in preparing the financial statements. 1.4 Charitsble funds Unrestricted funds are available for use al the discretion of the trustees in furtherancg of their charitable objectives. In the year ended 31 Dember 2015 the trustees created a reserve for capitsl expenditure in respect of Maiden Lane Shopping Centre and this was allocated to a designated fund. In the year ended 31 December 2016 th¢ Iruslee5 created a reserve for a donatson from Mrs Yvonne Pye and this was allocated lo a designated lund, however in the year ended 31 December 2021 the Iruslees agreed to undesignate this fund. The details are shown in note 17. 1.6 Income Income is recognisod when the Settlement is Segally entitled to it after any perfomiance conditions have been met, the amounts can be measured reliably, and il is probable that income will be received. 12-
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SETTLEMENT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Accountlng poli¢les (Continu•dl Invastment incomo Dividends are included in the statement of financial activities when they are receivable. Gross bank interest is included in Ihg statement of financial acb'vilies as it arises. Rental income is included on a receivable basi8. IAhere rent 1$ received in advance it is recorded as deferred Income and released to the statement of financial activiknes in the pèriod lo which il relates. 1.6 Expendlture Expenditure is recognised On there is a legal or construelive obligatron to transfer economic benefit lo a third paty. it is probable that a transfer of economic benefits will be required in selllement, and the amount of the obligalK)n can be measured reliably. Grants are recognised when they become payable. Classificatlon of expenditure Expenditure is charged to the statement of finaneial actNitie$ a8 11 is incurred. Governance costs comprise costs for th¢ running of the Settleent rtsem as an organisalion. Governance costs are apportioned between expenditure on raising funds and charitable activities based on time spent. 1.7 Investment properties Investment property, which is property held lo eam rentals andlor for capital apprèciation, is initially recognised al cost, which includes the purchase cost and any directly attributable expenditure. Subsequentty it is measured al fair value al each reporting dale. The fair value is on the basis of aclvice from independent propety valuers. The surplus or deficit on revaluation is recognised in net incomel expenditure. 1.8 Flxed asset invostmonts Fixed asset investments are initially measured at transaction prits exduding transaction costs and are subsequently measured at fair value 81 each reporting date. Changes in fair value are recognised in nel incomelexpenditure. Transaction costs are expensed as incurred. 1.9 Loans From lime lo time the trustees re¢8ive requests for substantial grant funding to which they would like lo aCde. In many cases it helps the beneficiary charity for funding lo be spread over a number of years. In some cases, however, rt is dear that the nature of th8 project requires immediate cash and in such cases it is the policy of the trustees lo lend money in order to assist the beneficiary charity to start a project and enable the grantee lo match funding from other sources. The terms of such loans are always expressed to be free of interest and repayable on demand. Loans are redUd either by repayment or by a waiver aulhorised by the trustees. Loans made are accounted for when authorised by the trustees. 1.10 Cash and cash equlvalents Cash and cash equivalents includg cash in hand, deposits held al call with banks, other short-term liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 13-
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SETTLEMENT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting policlos Icontlnued) 1.11 Financial instrument$ The Settlement has elected lo apply the provision# of Sertion 11 '8asic Financial Inslrumenls, and Section 12 '01her Financial Instruments Issues, of FRS 102 to all of it5 finanaal instruments. Financial instruments are recognised in the Settlemenvs balance sheet when the Settlement beeomes party to the conlraGtual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there ig a legally enforable right lo sel off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are inkially measured at transaction pri including transaction costs and are subsequently carried at amortised $1 using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted a a market rate of interest. Financial assets classrfied as reIvable within one year are not amortised. Basie flnancial li8bllltles Basic financial liabiSilies, including creditors and bank loans are initially recognised at transaction price unless the arrangement conslilules a financing transaction, where the debt instrument is measured al the present value of the future payments discounted al a market rale of interest. Financial liabilities classtfied as payable within one year a not amortised. Debt instruments are subsequently earned at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or SeiceS that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not. they are presented as non£urrent liabilities. Trade Creditors are recognised Initially al transaction pri and subsequently measured at amortised cost using the effeciive interest method. Derv¢ognltlon of financlal liabilities Financial liabilities are derecognised when the Settlement's conlraclual obligations expire or are discharged or Canlled. Critical accounting estlmate$ and judgements In the application of the Settlement's accounting policies, the twslees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sou[s. The estimates and associated assumptions 8re based on historical experien and other factors that are considered to be relevant. Actual results may d"rffer from these estimates. The eslimales and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both CUTrent 8nd future periods. 14-
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SETTLEMENT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Income from investments Unrestricted Unrestricted fund6 funds general general 2021 2020 Rental income Income from118ted inveslmonts Interest receivable 447,268 168,777 507,698 175,917 1,451 616,054 685,066 Expenditur• on raising funds Unre8tri¢ted Unrestricted funds funds general general 2021 2020 Property expenses Share of governance costs {s8e note 71 Investsnenl management costs 47,201 fj,411 41,839 33,489 15,867 34,038 95,251 83,394 Expenditure on ¢haritabl• acttvltlès Grant making 2021 Grant making 2020 Grants payable (see note 6> Share of governance costs (see note 7) 452.054 34,335 478,250 34,418 486,389 512,668 15-
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SErrLEMENT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Grants payable During the year the Setuemenl distributed £452,054 10 108 inslitutions12020.. £478,250 to 118 instrtub"onsl, in accordance with the Settlement'5 objectives. As stated in the Iruslees. report, the charity seeks to support organisations focused largely in Oxfordshire and the surrounding area ConMed with environmentsl matters, education and the alleviation of hardship. A number of these organisalions fall into o or more of the above categories and therefore the trustees consider il more useful to the reader of the financial ststements to list all recipients who have nefited from grants of £501 or moro, rather than dassify the grants made by the activities being funded. No Grant 2021 2020 Music al Oxford Magdalen College School Association for Post Natal Illness The Gatehouse Aspire Banbury Museum Trust Pegasus Theatre SOFEA Style Acre Helen & Douglas House 11 Berinsfield Information and Volunteer Centre 12 Be Free Young Carers 13 CLIC Sargent 14 FamAbility N80mi House & Jacks Place 16 Oxford Victoria County History Trust 17 Refugee Resource 18 ROSY 19 Seesaw 20 The Prince's Trust 21 The Radley Lakes Trust 22 The Story Museu 23 Wallingford Food Bank 24 Wild Oxfordshire 25 Yellow Submarine 26 Oxfordshire Youth 27 Barracks Lane Community Garden 28 The Cedar Community Club 29 The Porch 30 MS Therapy Centre 31 Abingdon Food Bank 32 Asylum Welcome 33 Banbury Young Homeless Projert 34 Cherwell Theatre Company 35 Open University - The Floodplain Meadow Partnership 36 Oxfordshire Association for the Blind 37 Berks, Bucks and Oxon Wildlife Trust IBBO 38 Blackbird Leys Neighbourhood Support Schem9 Ltd, known as The Agnes Smith Advice Centre Earth Tfust Innovista, Thrive 100,000 30,000 20,000 15,000 10,000 10,000 10,000 10,000 10,000 7,500 6,000 5,000 5,000 5,O¢X) 5,000 5,000 5,0(X) 5,000 5,000 5,000 5,000 5,000 5.000 5,000 5,000 4,500 4.125 3,500 3,303 3.2SO 3,000 3,000 3,000 3,000 3,000 3,000 2,500 100,000 30.000 20,000 5,000 10,000 10,000 10,000 5,000 3,000 5,000 15,000 4,750 5.000 20,000 10,000 5,000 1,000 3,500 2,000 3,000 2.500 2,500 2,500 39 40 2,500 2,500 16-
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SELEMENT NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Grants payable (Continued) 41 Joss Searchlight 42 Oxford Community Vvork Agency 43 Oxford Food Hub 44 Pusey House 45 The Guide Dogs for the 81ind Assoeiation 46 The Mapl@ Tree 47 The Sunshine Centre 48 Witney and West Oxfordshire Food Bank 49 Ag8 UK 50 Christ Church Cathedral Music Trust 51 Combe Community Hub 52 Dementia Oxfordshire 53 Edge Housing 54 Emm?us Oxford 55 Family Links Friends of Dorchesler Abbey 57 Helen Arkell Dyslexia Charity 58 Maggies Oxford 59 My Life My Choice 60 One-Eighty 61 Oxford Churches Debt Centre 62 Oxford City Fam) 63 Oxfoidshire Family Support 64 Oxfordshire Sexual Abuse and Rapè Crisis Centre 65 Parents and Friends of Barowell School 66 SAFEI 67 SSNAP 68 Sl Stephens House, Oxford ISJE Arts) 69 Teenage Caneer Trust 70 The Archway Found81ion 71 The LetMbe Brooke Project 72 The North Wall Arts Centre 73 The Woodland Centre 74 WVA 75 Walerperry Opera Festival 76 Wootton Sl Peteffs CE Primary School 77 Newbury Sea Cadets 78 Lif& Education Wessex and Thames Valley 79 Clean Slate 80 Response 81 Home-stsrt Banbury, Bicesler and Chipping Norton 82 The Kidlinglon Good Neighbour Scheme 83 Gingerbread 84 Blue Skye Thinking 85 Disabled Sailors Association 86 Earth Watch 87 Enrych Oxfordshire 88 Headinglon School 89 Leafield Pre-Seh¢X)I 90 Lifelites 2,500 2,500 2,500 2,500 2.500 2,500 2,500 2,500 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,OOD 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2.000 2,000 2,000 2,000 1,633 1,575 1,500 1.500 1,450 1,250 1.100 1,000 1,000 1,000 1,000 1,000 1,000 1,000 2,000 2,500 2,500 2.500 2.500 1,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2.000 3,900 1,000 1,000 1,4SO 3,500 1,000 17-
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SEThLEMENT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Grants payable (Continued) 91 Oxford Baby Bank Oxford Hub 93 Oxfordshire Crossroads 94 Oxfordshire MIND 95 Response Giving Riding for the Disabled Group Abingdon 97 Sapere 98 The Mill Arts Cerrtre 99 Thomas Gifford TTUSt 100 Dogs for Good 101 Oxford Preservation Trust Membership 102 La seniS$1Ma 103 Oxfordshire Historic Churches 104 Organic Research Centre 105 Art Fusion 106 Home-start Southern Oxfordshire 107 New Yatt Riding for the Disabled 108 Oxford Hospitals Charity 109 Oxfordshire Scouts 110 Southmoor Pre-school 111 The Hummingbird Centre 112 Thumbs Up Club 113 Young Dementia UK 114 Daybreak 115 Oxford Lieder Festival 116 Modern Art Oxford 117 Vvoodstock Youth Work 118 The Cluster Care Group 119 Autism at Kidlinglon 120 Headway, Oxford 121 KIDS Oxfordshirg 122 Startup online 123 The Friends of Abingdon Abbey 124 Wolvercote YP Club 125 Banbury Advice Centre & Citizen Project 126 Clanfield Pre-school 127 Falcon Boat Club 128 Friends of St Marys Church 129 Homestart Oxford 130 MS Society 131 The Friends of Oxford Botanic Garden and Arboretum 132 The Listening Centre 133 W1tney Buttercross S¢oLJts Group 134 Clearsky 135 Child 8rain Injury Trust 136 ERIC 137 Longworth Pre-school 138 Adventure Plus 139 Arts al the Old Fire Station 140 Bridewell Organic Gardens 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 768 600 1,000 2,000 1,500 1,000 600 10,000 10,000 7,500 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 4,800 4,000 3,500 3,000 2,600 2,500 2,500 2.500 2,500 2,500 2,500 2,000 2,000 2,000 2.000 2,000 2,000 2,000 2,000 2,000 1,650 1,500 1,500 1,50Q 1,000 1.000 1,000 18-
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SETTLEMENT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Grants payable (Contlnued) 141 Chipping Norton Theatre 142 Dean Court Community Association 143 Footsteps Foundation 144 HENRY 145 Human Story Theal 146 Huntington's Disease Association 147 Jacari Oxford 148 Lauriston Lights 149 Oxford Hub 150 Oxford Playhouse 151 Oxfordshire Breasffeeding Support 152 RAW Workshop 153 Riverside Counselling SeNices 154 RSPB Olmoor 1 SS Scientists in Schools 156 The Big Issue 157 The English Musical Festival 158 The Friends of Sl James Primary School 159 Watemiill Theatre, Newbury 160 Whizz-Kids, London 161 Grants below £501 17}12020.' 13} 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1.000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 6,500 3.500 452,054 478,250 There were no commitments in connection with unpaid grants at 31 December 2021. The trustees intend lo make further grants lo be funded from future income as ft)Ilows'. Payments which at all lirnes remain subject to th8 trustees, complete discretion. indicated but not committed or provided for in these financial statements: 2021 2020 Potential payable within one year Potentially payable within lo five years 201,000 92,000 212,000 173,000 293,000 385.000 Movements on grants payable were as follows.. 2021 2020 At 1 January 2021 Increase in potentially payable grants Paid during the year 385,000 365,500 120,000 264,000 1212,000) 1244,5001 At 31 Dember 2021 293,000 385,000 19-
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SETTLEMENT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Govemance cost$ Govarnance costs 2021 Governance osts 2020 Audit fees Accountancy Legal and professional Adminislialion f8es Grant administrator fees Trustees. expenses Other professional fees Bank charges and commission 7,000 9,080 600 10,494 12,000 161 732 7.¢J)O 9,080 600 10,494 12,000 161 732 6,930 8,605 1,751 lo,0 12,000 132 10,160 6,930 8,605 1,751 10,000 12,000 132 10,160 679 679 707 707 40,746 40.746 50,285 50,285 Analysed t)etreen.. Raising funds charitab activities 6,411 34,335 6,411 34,335 15,867 34,418 15.867 34,418 40,746 40,746 50,285 50,285 Govemance costs includes payments to the auditors of £7,00012020-. £6,930} for audf( fees. Trustees None of the trustees lor any persons connected with them) received any Temuneration or benefits from the Settlement during the year. Expenses for travel and subsistence were paid lo 1 trustee totalling £161 12020.. 1 trustee totalling £132>. Net galn8 on Investments Unrestrl¢tgd Unrestricted funds funds general general 2021 2020 Revaluation of investments 619,605 85,688 10 Snvestment properties 2021 Falr value Al 1 January 2021 and 31 Dember 2021 6,157.100 -20-
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SErrLEMENT NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2021 10 Inv•8tmgnl propertie8 {Continued) The market value for the freehold investment properties is based on valuations provided to the trustees by independent property valuers. The Iruslees, policy is lo have the investment prDperties valued èxtgmally every five years, with the trustees then revv&wing the valuation annually to ensure that the carrying value is equivalent lo market value. The investment properties held in trust for the Selllement by Forkpalm Limited were brought into the Setuemenl's financial slalements during 2015 al a value provided lo the trustees by independent commercial property valuers. The properties were revalued at 31 Dember 2020 to £905,000 by Adam Smylie MRICS of Kirkby Diamond, Chartered Surveyors. The other investment properties are held directly by the Seluemenl. Maiden Lane Shopping Centre. Reading was valued al a market value of £5,022,000 as at 7 February 2020 by Peter Memmott FRICS, of Fairweathers Chartered Surveyor5. The Polleries. Tilehurst was revalued at 26 February 2020 by Peter Memmoll and the value was revised lo £230,000. 21
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SErrLEMENT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 11 Flxed asset Invostsnonts Listed Unlisted Investments invostrnents Total Valuation At l January 2021 Additions Valuation changes Diswsals 7,285,272 5,213,967 619,948 14,780,868) 851,783 8,137,055 115,203 5,329,170 13431 619,605 (589,2241 15,370.0921 At 31 December2021 8,338,319 377.419 8,715,738 Carrying amount At 31 Decembgr 2021 8,338,319 377,419 8,715,738 At 31 Dember 2020 7,285,272 851,783 8,137,055 2021 2020 Investments al fair value comprise.. UK & overseas fixed interest Equities Collective investments The ChaTlties Propety Fund Punter Southall Wealth cash capital 2.515,933 2,242,524 3,579,862 2.235.386 1,186,015 3,863,871 589,567 262,216 377,419 8,715,738 8,137,055 -22-
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SEThLEMENT NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021 12 Subsidiary companies The Settlement has wholly-owned subsidiary companies. as detailed lOw. The shares of both subsidiaries are held in trust by the Settlement's trustees. Forkpalm Limitgd Forkpalm Limited, a company registered in England and Wales, was purchased by the Settlement on 27 June 2007. Until 31 December 2015 the company's activity was lo hold the freehold reversion of investment properties and charge ground rents. It donated ils taxable profits to the Selllement by gift aid. Since 1 January 2016 Fothpalm 'MIted has been dormant. On 31 Dember 2015 the directors of Forkpalm Limited resolved to hold the assets of the company in trust absolutely for the Settlement. The property held by Forkpalm Limited had already been sh[n in the Settlement's balance sheet, but the company's bank account was brought into the Settlement's balance sheet. Furthemiore, the property income receivable as al 31 December 2015 and the accountaney fees payable al that dale in respect of Forkpalm Limited were recogni¥ed on the Settlement's balance sheet. Due lo the above re-organisalion, no consolidated accounts have been prepared for the year ended 31 DeMber2o21. Maidon Lane D•vel•pment Managem•nt Company Limited Maiden Lane Development Management Company Limited. a company also registered in England and Wales, was purchased by the Selllemenl on 20 February 1998. The company's activity is lo manage the propety known as Maiden Lane Cenlre, Lower Earley, Reading. Although the shares are held in trust by the Sethement's trustees, the Setuemenl has no financial interest in this company. There is therefore no requirement lo prepare consolidated financial statements in res of this company. 13 Financlal in8trument8 2021 2020 Canying amount of financial assets Instruments measured al fair value through income and expenditure 8,715.738 8.137.055 Financial instruments measured at fair value through income and expenditure comprise fixed asset investlments. 14 Debtors 2021 2020 Amounts falling dug within one y&•r- Rental income debtors Other debtors (see below) Prepayments and awrued Income 14,045 2,500 4,390 41,865 12.500 9,183 20,935 63,548 2021 Amount8 falling due after morethan one yoar: 2020 Other debtors (see bel¢Jvl 5,000 7,500 Total debtors 25,935 71,048 -23-
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SEThLEMENT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 14 Debtoys (Continued) Othgr debtors - loans to charities 2021 2020 Banbury Museum Pusey House 10,000 10,000 7,500 7,500 20,000 Repayable within one year Repayable after one year 2,500 5,000 12,500 7,500 7,500 20,000 15 Creditors= amounts falling due within one year 2021 2020 Nolo$ Taxation and soaal security Deferred income Trade credilois Accruals for grants payable Other creditors Accruals 15,477 38,577 13,748 13,019 44,143 11,175 28,000 16 8.855 15,380 20.215 92,037 116,552 16 D•f•rred income 2021 2020 Rental income invold in advance 38,577 44,143 2021 2020 Deferred income at 1 January 2021 Released from previous years Resources deferred in the period 44,143 144,143} 38,577 48,708 {48,7081 44,143 Deferred income at 31 December 2021 38,577 44,143 -24-
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6 MR & MRS J A PYE'S CHARITABLE SETTLEMENT NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 17 Designatad funds The income funds of the charity include the following designated funds which have teen set aside out of unrestricted funds by the trustees for specifie purposes.. Balan¢+ at 1 January 2020 Ra8our¢•s expended Tran8f8Ys Balance at 1 January 2021 Tran5f8rs Balance at 31 Docember 2021 Maiden Lane reserve Yvonne Pye reserve 105,236 204,266 24.386 129,622 194,266 21,019 1194,2661 150,641 110,0001 309,502 110,000} 24,386 323,888 {173,247} 150.641 18 Relatgd party transactions There were no disclosable related party transactions during the year (2020.. none). The Trust Deed tsjntains an express power for payments to be made lo trustees for profes$ional setmces in relation lo the administration of the Settlement. During the year. nonè of the trustees reived any remuneration or benefits in kind. Expenses were reimbursed as detailed in note 8. 19 Cash absort)ed by operaon$ 2021 2020 Surplus for the year 654,019 174.692 Adjustments for.. Investment income recognised in statement of financial xlivilies Fair value (gainsylosses on investments {616,0541 {619,6051 1685,0661 185.688) Movements in working capital". Decreasellincreasel in debtors (Decrease) in creditors 45,113 124,5151 121,365) 112,171> 1581,0421 1629,598) 20 Analys1¥ of changes in not fundB At l January 2021 Cash flow5 At 31 De¢ember 2021 Cash at bank and in hand 305,991 95,934 401.925 305,991 95,934 401.925 The Settlement had no debt during the year. -25-
Docusign Envelor ID". DD8CA76E-C8204328-865A-AFD74DAFA5A6