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||||Page|
|---|---|---|---|
|Reference and administrative||details ofthe Charity, its Trustees and advisers|1-2|
|Trustees'
report|||3-8|
|Independent
auditor's|report|on the financial statements|9-12|
|Statement offinancial|activities||13|
|Balance sheet|||14|
|Statement ofcash flows|||15|
|Notes to the financial|statements||16-32|
##
|REFERENCE AND ADMINISTRATIVE
DETAILS OF THE|REFERENCE AND ADMINISTRATIVE
DETAILS OF THE|REFERENCE AND ADMINISTRATIVE
DETAILS OF THE|REFERENCE AND ADMINISTRATIVE
DETAILS OF THE|REFERENCE AND ADMINISTRATIVE
DETAILS OF THE|CHARITY, ITSTRUSTEES AND ADVISERS|
|---|---|---|---|---|---|
|FOR THE YEAR ENDED||31 DECEMBER 2021||||
|Trustees||Patrick JA Burgess,||Chairman||
|||Julian Palfreyman,|Deputy Chairman|||
|||Christopher
Holdsworth-Hunt,|||Trustee|
|||Richard
Killingbeck,||Trustee||
|||Michael R I Litwall,|Trustee|||
|||Jamie G Matheson,||Trustee||
|||Geoffrey Mark Powell, Trustee||||
|||Andrew
H Scott, Trustee||||
|||David
M FScott, Trustee||||
|Charity registered||||||
|number||245430||||
|Principal office||10Paternoster
Square||||
|||St Paul's||||
|||London||||
|||EC4M 7DX||||
|Committee|for the year|Patrick J A Burgess,||Chairman||
|2021||Shaun
M Allison||||
|||Nicholas W Bagshawe||||
|||Joanna Bunkham||||
|||Colin G Climie||||
|||Spencer Crooks||||
|||Sarah Danes||||
|||Andrew
M Impey||||
|||David
M Leslie||||
|||Timothy R Macdonald||||
|||David J Macnamara||||
|||Philip C Nathan,
MBE||||
|||Richard
Noel||||
|||Julian S Palfreyman||||
|||David
M F Scott||||
|||Desmond
A Shine||||
|||Daniel J Southgate||||
|||Mark A Vaughan||||
|Secretary||Robert G Chambers||||
|Assistant secretary||Jennifer
M Golan||||
|Independent|auditor|MHA Maclntyre
Hudson||||
|||Maidstone||||
|||United
Kingdom||||
|Bankers||Bank of Scotland||||
|||PO Box1984||||
|||And over||||
|||SP109GZ||||
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|The result for
market
value
follows:|the year is shown
on p
of the investments
and|age 13and the positi
investments
classified|
|---|---|---|
|||F|
|General Fund||26,610,753|
|KD Cochrane|Fund|632,922|
|Cecil Russell|Nye Trust Fund|13,255|
|Louis Sanders|Holiday Fund|11,180|
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|||||Endowment|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|
||||Note|2021
f|2021
f|2021f|2020
E|
|Income and endowments||from:||||||
|Donations
and legacies|||||(1,698)|(1,698)|30,891|
|Investments||||11,690|715,226|726,916|596,944|
|Total income and|endowments|||11,690|713,528|725,218|627,835|
|Expenditure
on:||||||||
|Raising funds||||3,190|122,016|125,206|139,935|
|Charitable
activities|||||1,091,521|'I,091,521|922,667|
|Total expenditure||||3,190|'I,213,537|1,216,727|1,062,602|
|Net income/(expenditure)||before net||||||
|gains/(losses)
on|investments|||8,500|(500,009)|(491,509)|(434,767)|
|Net gains/(losses)|on investments|||81,600|3,642,580|3,724,180|(1,905,226)|
|Net movement
in|funds|||90,100|3,142,571|3,232,671|(2,339,993)|
|Reconciliation
of|funds:|||||||
|Total funds brought|forward|||567,257|24,066,886|24,634,143|26,974,136|
|Net movement
in funds||||90,100|3,142,571|3,232,671|(2,339,993)|
|Total funds carried forward||||657,357|27,209,457|27,866,814|24,634,143|
##
##
||||||2021||2020|
|---|---|---|---|---|---|---|---|
||||Note|||||
|Fixed assets||||||||
|Tangible assets|||13||1,048||570|
|Investments|||15||26,575,539||23,262,845|
|Investment
property|||14||485,000||485,000|
||||||2?,061,587||23,748,415|
|Current assets||||||||
|Debtors|||16|71,040||96,173||
|Investments|||17|692,571||711,627||
|Cash at bank and in|hand|||317,&05||356,261||
|||||1,081,416||1,164,061||
|Creditors: amounts|falling due within one|||||||
|year|||18|(52,189)||(56,333)||
|Net current assets|||||1,029,227||1,107,728|
|Total assets less current liabilities|||||28,090,814||24,856,143|
|Provisions
for liabilities|||||(224,000)||(222,000)|
|Net assets excluding||pension asset|||27,866,814||24,634,143|
|Total net assets|||||27,866,814||24,634,143|
|Charity funds||||||||
|Endowment
funds|||20||657,357||567,257|
|Restricted funds|||20|||||
|Unrestricted
funds|||20||27,209,457||24,066,885|
|Total funds|||||27,866,814||24,534,143|
##
||||||2021|2020|
|---|---|---|---|---|---|---|
|||||||E|
|Cash flows from operating||activities|||||
|Net cash|used
in operating|activities|||(468,225)|(602,290)|
|Cash flows from investing||activities|||||
|Purchase|oftangible
fixed assets||||(776)|(712)|
|Proceeds|from sale of investments||||15,476,473|1,523,122|
|Purchase|of investments||||(15,064,984)|(1,564,410)|
|Net cash|provided
by/(used
in) investing|||activities|410,713|(42,000)|
|Net cash|provided
by financing
activities||||||
|Change|in cash and cash|equivalents|in|the year|(57,512)|(644,290)|
|Cash and cash equivalents||at the beginning||ofthe year|1,067,888|1,712,178|
|Cash and cash equivalents||at the end|of|the year|1,010,376|1,067,888|
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||Unrestricted|Total|Total|
|---|---|---|---|
||funds|funds|funds|
||2021f|2021|2020
E|
|Donations|||'/,000|
|Legacies|(1,698)|(1,698)|29,891|
|Total 2021|(1,698)|(1,698)|30,891|
|Total 2020|30,891|30,891||
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||||Endowment|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
||||2021
f|2021
f|2021
E|2020|
|Investment|income - local investment||||||
|properties||||8,250|8,250|7716|
|Investment|income - local listed investments||11,690|576,365|588,055|466,194|
|Investment|income - foreign|listed investments||95,273|95,273|61,611|
|investment|income - other local unlisted|||35,311|35,311|60,831|
|Investment|income - local cash|||27|27|592|
|Total 2021|||11,690|715,226|726,916|596,944|
|Total 2020|||9,098|587,846|596,944||
##
||||Endowment|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
||||2021|2021|2021|2020|
||||||F||
|Investment|management|fees|3,190|122,016|125,206|139,935|
|Total 2020|||2,565|137,370|139,935||
##
##
||Unrestricted|Total|Total|
|---|---|---|---|
||funds|funds|funds|
||2021
E|2021f|2020|
|Support costs|279,891|279,891|167,173|
|Grants payable|811,630|811,630|755,494|
|Total 2021|1,091,521|1,091,521|922,667|
|Total 2020|922,667|922,667||
##
|||||Total|Total|
|---|---|---|---|---|---|
||Staffcosts|Depreciation|Other costs|funds|funds|
||2021
f|2021
f.|2021
F|2021f|2020|
|Support costs|144,211|297|135,383|279,891|167,173|
|Grants payable|||811,630|811,630|755,494|
|Total 2021|144,211|297|947,013|1„091,521|922,667|
|Total 2020|143,877|142|778,648|922,667||
##
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||||Grants to||
|---|---|---|---|---|
||||Individuals||
||||2021|2020|
|Regular|grants||610,470|547,354|
|Capped|and emergency|grants|98,960|106,140|
|Welfare|organisations||2,200|2,000|
|Clerks fund|||100,000|100,000|
||||811,630|755,494|
##
||Grant||||
|---|---|---|---|---|
||funding
of|Support|Total|Total|
||activities|costs|funds|funds|
||2021
E|2021f|2021
E|2020
E|
|Support costs||279,891|279,891|167,173|
|Grants payable|811,630||811,630|755,494|
|Total 2021|811,630|279,891|1,091,521|922,667|
|Total 2020|755,494|167,173|922,667||
##
##
|||||Total|Total|
|---|---|---|---|---|---|
||||Activities|funds|funds|
||||2021|2021|2020|
||||E||E|
|Staff costs|||144,211|144,211|143,877|
|Depreciation|||297|297|142|
|Discount charge|on pension|provision|31,347|31,347|(97,112)|
|Charitable
expenditure|||73,310|73,310|83,819|
|Expenses
visiting|beneficiaries||83|83|951|
|Postage,
printing|and stationery||1,457|1,457|1,614|
|Bank charges|||373|373|312|
|Differences
on foreign exchange|||517|517||
|Luncheon expenses|||||615|
|Mobile phones|||1,021|1,021|812|
|Computer costs|||105|105||
|Property expenses|||244|244||
|Governance
costs|||26,926|26,926|32,143|
|Total 2021|||279,891|279,891|167,173|
|Total 2020|||167,173|167,173||
##
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2021|2021|2020|
|||E|f.|E|
|Insurance||1,465|1,465|1,271|
|Sundry expenses||269|269|436|
|Committee|meetings|6,230|6,230|4,225|
|Legal &professional||4,317|4,317|6,490|
|Auditor's
remuneration||14,645|14,645|19,721|
|Total 2021||26,926|26,926|32,143|
##
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||||||2021|2020|
|---|---|---|---|---|---|---|
||||||E||
|Fees payable to the|Charity's|auditor|for the audit ofthe Charity's|annual|||
|accounts|||||11,940|16,840|
|Fees payable to the|Charity's|auditor|in respect of:||||
|Taxation compliance|services|||||360|
|Other financial services|||||2,705|2,521|
##
|||||2021f|2020
E|
|---|---|---|---|---|---|
|Wages and|salaries|||122,575|120,304|
|Social security costs||||11,735|11,844|
|Contribution|to defined|contribution|pension schemes|9,901|11,729|
|||||144,211|143,877|
|2021|2020|
|---|---|
|No.|No.|
||||||||No.|No.|
|---|---|---|---|---|---|---|---|---|
|Average
number ofemployees|||||||||
|The
number
of employees
whose
f60,000was:||employee|benefits|(excluding|employer|pension|costs)|exceeded|
|||||||2021||2020|
||||||||No.|No.|
|In the|band 660,001 - f70,000||||||||
|In the|band 670,001 - f80,000||||||||
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||||Office|
|---|---|---|---|
||||equipment|
||||E|
||Cost or valuation|||
||At 1 January|2021|5,974|
||Additions||776|
||At 31 December 2021||6,750|
||Depreciation|||
||At 1 January|2021|5,404|
||Charge for the year||298|
||At 31 December 2021||5,702|
||Net book value|||
||At 31 December 2021||1,048|
||Af 31December 2020||570|
|14.|Investment|property||
||||Long term|
||||leasehold|
||||investment|
||||property|
||||E|
||Valuation|||
||At 1 January|2021|485,000|
||At 31 December 2021||485,000|
##
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|||||Listed|
|---|---|---|---|---|
|||||investmentsf|
||Cost or valuation||||
||At 1 January|2021||23,262,845|
||Additions|||15,064,984|
||Disposals|||(15,476,473)|
||Revaluations|||3,724,183|
||At 31 December 2021|||26,575,539|
||Net book value||||
||At 31 December 2021|||26,575,539|
||At 31December 2020|||23,262,845|
|16.|Debtors||||
||||2021|2020|
||||f.|E|
||Due within one year||||
||Other debtors||157|86|
||Accrued income||9,061|38,395|
||P repayments||61,822|57,692|
||||71,040|96,173|
|17.|Current asset investments||||
||||2021|2020|
||||F|E|
||Investments|-cash deposits|692,571|711,627|
##
##
|||2021|2020|
|---|---|---|---|
|||f.||
|Other taxation and social security||6,277|5,390|
|Accruals and deferred|income|45,912|50,943|
|||52,189|56,333|
##
||||Unfunded|
|---|---|---|---|
||||Retirement|
||||Pension|
|At 1 January||2021|222,000|
|Amounts|used||(29,347)|
|Discounted||adjustments|31,347|
||||224,000|
|Statement of||funds -current|year|||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
||||Balance at 1||||31|
||||January|||Gains/|December|
||||2021f|Income
F|Expenditure
E|(Losses)|2021f|
|Unrestricted|funds|||||||
|General
Funds||- all funds|24,066,886|713,528|(1,213,537)|3,642,580|27,209,457|
|Endowment|funds|||||||
|Louis Sanders||Holiday Fund|9,640|200|(50)|1,390|11,180|
|Cecil Russell|Nye Trust Fund||11,434|236|(61)|1,646|13,255|
|K D Cochrane||Fund|546,183|11,254|(3,079)|78,564|632,922|
||||567,257|11,690|(3,190)|81,600|657,357|
|Total offunds|||24,634,143|725,218|(1,216,727)|3,724,180|27,866,814|
##
##
|Statement offun|ds - prior year||||||
|---|---|---|---|---|---|---|
|||||||Balance at|
||Balance at|||||31|
||1January|||Transfers|Gains/|December|
||2020|Income|Expenditure|in/out|(Losses)|2020|
|||E||||E|
|Unrestricted|||||||
|funds|||||||
|General Funds-|||||||
|all funds|26,4/6,018|618,737|(1,057,587)|(5,056)|(1,905,226)|24,066,886|
|Endowment|||||||
|funds|||||||
|Louis Sanders|||||||
|Holiday
Fund|9,445|155|(41)|81||9,640|
|Cecil Russell|||||||
|Nye Trust Fund|11,251|184|(49)|49||11,435|
|K D Cochrane|||||||
|Fund|537,422|8,759|(4,925)|4,926||546,182|
||558,118|9,098|(5,015)|5,056||567,257|
|Total offunds|26,974,136|627,835|(1,062,602)||(1,905,226)|24,634,143|
##
|Summary
|offunds - cur|rent year|||||
|---|---|---|---|---|---|---|
|||||||Balance at|
|||Balance at 1||||31|
|||January|||Gains/|December|
|||2021|Income
E|Expenditure
f|(Losses)f|2021
E|
|General funds||24,066,886|713,528|(1,213,537)|3„642,580|27,209,45?|
|Endowment|funds|567,257|11,690|(3,190)|81,600|657,357|
|||24,634,143|725,218|(1,216,727)|3,724,180|27,866,814|
|Summary
offun|ds - prior year||||||
|---|---|---|---|---|---|---|
|||||||Balance at|
||Balance at|||||31|
||1January|||Transfers|Gains/|December|
||2020|Income|Expenditure|in/out|(Losses)|2020|
||E||||E||
|General funds|26,416,018|618,737|(1,057,587)|(5,056)|(1,905,226)|24,066,886|
|Endowment|||||||
|funds|558,118|9,098|(5,015)|5,056||567257|
||26,974,136|627,835|(1,062,602)||(1905226)|24 634 143|
##
|Analysis|of net assets between funds -current|year|||
|---|---|---|---|---|
|||Endowment|Unrestricted|Total|
|||funds|funds|funds|
|||2021|2021|2021|
|||E||E|
|Tangible fixed assets|||1,048|1,048|
|Fixed asset investments||633,145|25,942,394|26,575,539|
|Investment|property||485,000|485,000|
|Current assets||24,212|1,057,204|1,081,416|
|Creditors|due within one year||(52,189)|(52,189)|
|Provisions|for liabilities and charges||(224,000)|(224,000)|
|Total||657,357|27,209,457|27,866,814|
##
##
|22.|Analysis of net assets|between|between|funds (continued)|funds (continued)|funds (continued)|funds (continued)||||
|---|---|---|---|---|---|---|---|---|---|---|
||Analysis of net assets between|||funds - prior||year|||||
|||||||||Endowment|Unrestricted|Total|
|||||||||funds|funds|funds|
|||||||||2020|2020|2020|
|||||||||||E|
||Tangible fixed assets||||||||570|570|
||Fixed asset investments|||||||567,257|22,695,588|23,262,845|
||Investment
property||||||||485,000|485,000|
||Current assets||||||||1,164,061|1,164,061|
||Creditors due within one year||||||||(56,333)|(56,333)|
||Provisions
for liabilities|and charges|||||||(222,000)|(222,000)|
||Total|||||||567,257|24,066,886|24,634,143|
|23.|Reconciliation
of net|movement||in funds to||net|cash flow|from operating|activities||
|||||||||||As restated|
||||||||||2021|2020|
||||||||||F|E|
||Net
income/expenditure|for|the|year|(as|per|Statement|of Financial|||
||Activities)||||||||3,232,671|(2,339,993)|
||Adjustments
for:||||||||||
||Depreciation
charges||||||||297|142|
||(Gains)/losses
on investments||||||||(3,724,182)|1,905,226|
||Decrease/(increase)
in|debtors|||||||25,133|(25,291)|
||Decrease
in creditors||||||||(4,144)|(3,374)|
||Decrease
in provisions||||||||(29,347)|(139,000)|
||Net cash used in operating||activities||||||(499,572)|(602,290)|
|24.|Analysis ofcash and|cash equivalents|||||||||
||||||||||2021|2020|
||||||||||E||
||Cash in hand||||||||1,010,376|1,067,888|
||Total cash and cash equivalents||||||||1,010,376|1,067,888|
##
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|||At 1||At 31|
|---|---|---|---|---|
|||January||December|
|||2021|Cash flows|2021|
||||F||
|||F|||
|Cash|at bank and in hand|356,261|(38,456)|317,805|
|Liquid|investments|711,627|(19,056)|692,571|
|||1,067,888|(57,512)|1,010,376|
##