| CONTENTS | PAGE | ||
|---|---|---|---|
| Trustees Annual | Report | 2-7 | |
| Auditors Report |
8-9 | ||
| Statement ofFinancial | Activities | 10 | |
| Balance Sheet | |||
| Notes to the Financial | Statements | 12- 17 |
| uring the year 2021,th | e follo | wing served as T |
rustees: | rustees: |
|---|---|---|---|---|
| Re resentative ofEm | lo ers: | Re resentative ofEm lo ees: | ||
| Michael Glover Bartle | Alan Paul Robinson | |||
| Keith Ronald Garbett | (retired | March 2021) | Peter John Richard | Booth |
| Adrian George Abel | Peter Reid | |||
| Malcolm Douglas Jarvis | Robert Christopher | Trotter | ||
| Peter John Davey (appointed | March 2021) |
| 2021 | 2021 | 2021 | 2020 | ||||
|---|---|---|---|---|---|---|---|
| UNRESTRICTED | RESTRICTED | TOTAL | TOTAL | ||||
| FUNDS | FUNDS | FUNDS | FUNDS | ||||
| INCOME AND ENDOWMENTS | |||||||
| Incoming Resources from Generated | Funds: | ||||||
| Investment Income |
340815 | 340815 | 321961 | ||||
| TOTAL INCOME | 340815 | 340815 | 321961 | ||||
| EXPENDITURE | |||||||
| Costs ofGenerating Funds: |
|||||||
| Investment Management Costs |
5023 | 5023 | 4724 | ||||
| Charitable Activities |
286815 | 286815 | 361683 | ||||
| TOTAL EXPENDITURE | 291838 | 291838 | 366407 | ||||
| NET INCOME/ EXPENDITURE YEAR |
FOR THE | 48977 | 48977 | (44446) | |||
| OTHER RECOGNISED LOSSES | |||||||
| Gain/(loss) on Investment Assets |
10 | 762101 | 762101 | ~1241534 | |||
| NET MOVEMENT IN FUNDS | 811078 | 811078 | (1285980) | ||||
| RECONCILIATION OF FUNDS |
|||||||
| TOTAL FUNDS BROUGHT FORWARD AT | |||||||
| 1STJANUARY 2021 | 5652243 | 790970 | 6443213 | 7729193 | |||
| TOTAL FUNDS CARRIED FORWARD AT 31STDECEMBER 2021 |
6463321 | 790970 | 7254291 | 6443213 |
| AS AT31STDECEMBER | 2021 | ||||
|---|---|---|---|---|---|
| UNRESTRICTED | RESTRICTED | TOTAL | TOTAL | ||
| NOTES | FUNDS | FUNDS | 2021 | 2020 | |
| FIXEDASSETS | |||||
| Investments | 6668920 | 790970 | 7459890 | 6699010 | |
| CURRENT ASSETS | |||||
| Debtors | 11 | 39080 | 39080 | 47106 | |
| Cash at Bank and in Hand | 12 | 134025 | 134025 | 63753 | |
| TOTAL CURRENT ASSETS | 173105 | 173105 | 110859 | ||
| LIABILITIES | |||||
| Creditors: Amounts Falling Due Within One Year |
13 | 77361 | 77361 | 37130 | |
| NET CURRENT ASSETS | 95744 | 95744 | 73729 | ||
| TOTAL ASSETSLESS | |||||
| CURRENT LIABILITIES | 6764664 | 790970 | 7555634 | 6772739 | |
| Creditors: Amounts Falling Due After More Than One |
14 | 301343 | 301343 | 329526 | |
| Year | |||||
| TOTAL NET ASSETS | 6463321 | 790970 | 7254291 | 6443213 | |
| FUNDS | 16 | 6463321 | 790970 | 7254291 | 6443213 |
| INVESTMENT INCOME | INVESTMENT INCOME | 2021 | 2020 | |
|---|---|---|---|---|
| Interest Dividend |
on UK Gilt Edged Securities and Fixed Interest Unit Trusts on UK M &G Securities Charifund Income |
24061 316752 |
27144 294811 |
|
| Interest | on Cash Deposits | 2 | 6 | |
| 340815 | 321961 |
| FO | R THE YEAR | ENDED 31STDEC | EMBER2021 Continued | |||
|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||
| 3. | INVESTMENT MANAGEMENT | COSTS | ||||
| Stockbrokers | Fees | 5023 | 4724 | |||
| 4. | ALLOCATION OF SUPPORT COSTS AND OVERHEADS |
T 1 otal |
Charitable Activities |
Governance Costs |
||
| StaffCosts | 27897 | 18599 | 9298 | |||
| Office Costs | and Overheads | 2497 | 1513 | 984 | ||
| 30394 | 20112 | 10282 | ||||
| 5. | CHARITABLE ACTIVITIES | 2021 | 2020 | |||
| StaffCosts | 18599 | 17855 | ||||
| Office Costs | and other Overheads | 1513 | 1936 | |||
| Convalescent | Scheme Costs | 49837 | 36897 | |||
| Grants payable —see note 6 | 192965 | 283202 | ||||
| Governance | Costs —see note 7 | 23901 | 21793 | |||
| 286815 | 361683 |
| GRANTS PAYABLE | GRANTS PAYABLE | 2021 | 2020 | |||
|---|---|---|---|---|---|---|
| a) | Children's Adventure Farm |
Trust | 29500 | 32682 | ||
| b) | Broughton House |
25000 | ||||
| c) | Leeds University Debbie Bamford |
2250 | ||||
| d) | Medi Equip 4Kids | 5550 | ||||
| e) | B.I.D.S. | 3000 | ||||
| f) | Bradford Textile Society | 4000 | 4000 | |||
| g) h) |
British Textile Biannial Donations to 26 regional Food Banks |
8000 | 102000 | |||
| i) | Brathay Trust | 5000 | ||||
| j) k) |
Booth Centre Accrington Stanley Community |
Trust | 10000 | 14000 | ||
| l) | Burnley Weavers Triangle | 500 | ||||
| m) | The Kirkwood | 5000 | ||||
| n) | Seashell Trust | 25000 | ||||
| o) | Boomerang Play Centre |
18000 | ||||
| p) q) r) |
Stroudwater Textile Trust Orchid SEN Manchester |
6000 5000 |
1000 | |||
| s) | Manchester University |
15000 | ||||
| t) | Hens haw | 2500 | ||||
| u) | Francis House Children Hospice |
5000 | ||||
| v) | Huddersfield Textile Centre |
ofExcellence | 40000 | |||
| w) | Derby TocH Children's Camp |
10000 | 10500 | |||
| x) | The Canal &River Trust | 8000 | ||||
| y) z) |
University ofBolton Bury Amateur Athletic Football |
Club | 2000 | 7500 | ||
| aa) | Blesma | 10000 | ||||
| ab) | Chrysalis Holiday |
5000 | ||||
| ac) | Little Hearts Matter | 4000 | 4000 | |||
| ad) ae) |
Textile Conservation Foundation Royal School ofNeedlework |
Sebastian Blue Pin | 4000 | 4000 3000 |
||
| af) | Salford Children's Holiday |
Camp | 40000 | |||
| ag) ah) |
Lancashire Textile Manufacturer's Section 12(1)Grants 1 individual |
Association (2020: 1) |
(5835) 1000 |
1020 | ||
| 192965 | 283202 |
| COTTON I ES TO THE THE YEAR |
NDUSTRY WAR MEMORIAL TRUST FINANCIAL STATEMENTS ENDED 31STDECEMBER 2021 Continued |
||
|---|---|---|---|
| 2021 | 2020 | ||
| RECONCILIATION OF GRANTS PAYABLE |
|||
| Commitments | at 1stJanuary 2021 | ||
| Commitments | Made in the Year | 192965 | 283202 |
| Commitments | Met | (152965) | (283202) |
| Commitments | at 31stDecember 2021 | 40000 |
| 7. | GOVERNANCE COSTS | GOVERNANCE COSTS | |||
|---|---|---|---|---|---|
| StaffCosts | 9298 | 8926 | |||
| Office Costs and Other Overheads | 984 | 981 | |||
| Auditors | Fees for Audit Services | 4718 | 4578 | ||
| Auditors | Fees for Other Services | 7528 | 7308 | ||
| Costs of | Meetings | 1373 | |||
| 23901 | 21793 | ||||
| 8. | STAFF | COSTS AND TRUSTEES' REMUNERATION | |||
| Salaries | 27897 | 26781 | |||
| Social Security Costs | |||||
| 27987 | 26781 | ||||
| The average number ofemployees | during the year was |
| FIXEDASSETINVESTMENTS | FIXEDASSETINVESTMENTS | |||
|---|---|---|---|---|
| Movement in fixed asset investments |
2021 | 2020 | ||
| Market value at 1stJanuary | 2021 | 6699010 | 7940544 | |
| Add: Investments in Year at |
cost | 72429 | ||
| 6771439 | 7940544 | |||
| Less: Investments Realised |
in Year | 73650 | ||
| 6697789 | 7940544 | |||
| Add/Less: Net Investment |
Gains/(Losses) | in Year (Note 10) | 762101 | ~1241S34 |
| Market value at 31stDecember 2021 | 7459890 | 6699010 | ||
| Cost at 31stDecember 2021 | 1944228 | 1972222 | ||
| Investments at market value |
com rised: | |||
| Equities | 6780435 | 5969154 | ||
| Fixed Interest securities | 679455 | 729856 | ||
| 7459890 | 6699010 |
| All investments were held in the UK. At 31st Dec more than 5%ofthe portfolio by market value |
ember 2021, the | following investment |
represented | |
|---|---|---|---|---|
| M &G Securities Ltd —Charifund units |
6780435 | 5969154 | ||
| 10. | GAINS/ LOSSES ON INVESTMENT ASSETS | |||
| Realised Losses on Disposal of Investment Assets |
(2545) | |||
| Change in Unrealised Gains/(Losses) on Investment |
Assets | 764646 | (1241534) | |
| NETINVESTMENT GAINS/ LOSSES | 762101 | (1241534) |
| DEBTORS | ||
|---|---|---|
| Prepayments Accrued Income |
1217 37863 |
1688 45418 |
| 39080 | 47106 |
| 12. | CASH AT BANK | AND | IN HAND | IN HAND | 2021 | 2020 |
|---|---|---|---|---|---|---|
| General Accounts | 100197 | 44729 | ||||
| High Interest Business Reserve | Account | 33800 | 19024 | |||
| Cash in Hand | 28 | |||||
| 134025 | 63753 | |||||
| 13. | CREDITORS: Amounts | Fallin | Due Within One Year | |||
| Accruals | 49178 | 8947 | ||||
| Pension Provision | (note | 15) | 28183 | 28183 | ||
| 77361 | 37130 | |||||
| 14. | CREDITORS: Amounts | Fallin | Due After More Than One Year | |||
| Pension Provision | (note | 15) | 301343 | 329526 | ||
| 301343 | 329526 |