##
|Current Trustees|Current Trustees|Mr M Henderson|Mr M Henderson|(Chairman)|(Chairman)|||
|---|---|---|---|---|---|---|---|
|||Ms Charlotte|Lambeth||( Vice|||
|||Chairman)||||||
|||Mrs B Pillidge||||||
|||Mr G Murrin||||||
|||Ms G Harflett||||||
|||Rev'd S Swarbrick||||||
|||Mrs J Grainger||||(Appointed|17July 2019)|
|Clerk to the|Trustees|LWoodward||||||
|||Simpkins
Edwards||LLP||||
|||Michael House||||||
|||Castle Street||||||
|||Exeter||||||
|||EX4 3LQ||||||
|Charity number||247190||||||
|Auditor||Bush 8 Co Limited||||||
|||2 Barnfield Crescent||||||
|||Exeter||||||
|||EX1 1QT||||||
|Bankers||Natwest||||||
|||Exeter Bank|Branch|||||
|||59 High Street||||||
|||Exeter||||||
|||Devon||||||
|||EX4 3DL||||||
|Investment|advisors|Investec||||||
|||16 Dix's Field||||||
|||Exeter||||||
|||EX1 1QA||||||
##
|||Page|
|---|---|---|
|Trustees'
report||1-4|
|Statement
oftrustees'|responsibilities||
|Independent
auditor's|report|6-8|
|Statement
offinancial|activities||
|Balance sheet||10|
|Statement
ofcash flows|||
|Notes to the financial|statements|12-25|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
||||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|---|---|
||||||funds|funds||funds|funds||
||||||2020|2020|2020|2019|2019|2019|
|||||Notes|f|||F|||
|Income from:|||||||||||
|Charitable
activities|||||326,868||326,868|255,029||255,029|
|Other trading|activities||||8,452||8,452|9,648||9,648|
|Investments|||||237,988|10,825|248,813|279,073|11,777|290,850|
|Total income|||||573,308|10,825|584,133|543,750|11,777|555,527|
|Ex enditure on:|||||||||||
|Raising funds|||||||||||
||||||69,371|287,916|357,287|87,527|8,872|96,399|
|Charitable
activities|||||||||||
||||||239,356|83,824|323,180|199,454|22,955|222,409|
|Other costs|||||10,701||10,701|18,568||18,568|
|Total resources|||||||||||
|expended|||||319,428|371,740|691,168|305,549|31,827|337,376|
|Net gains/(losses)|||on||||||||
|investments||||12|(23,013)|(19,204)|(42,217)|8,948|9,147|18,095|
|Net incomingl|||||||||||
|(outgoing) resources|||||||||||
|before transfers|||||230,867|(380,119)|(149,252)|247,149|(10,903)|236,246|
|Gross transfers|||||||||||
|between
funds|||||(205,408)|205,408||(119,198)|119,198||
|Net movement||in|funds||25,459|(174,711)|(149,252)|127,951|108,295|236,246|
|Fund balances|at 1 July||||||||||
|2019|||||5,989,364|877,760|6,867,124|5,861,413|769,465|6,630,878|
|Fund balances||at|30||||||||
|June 2020|||||6,014,823|703,049|6,717,872|5,989,364|877,760|6,867,124|
##
##
##
||||||2020||2019|
|---|---|---|---|---|---|---|---|
|||||Notes|||f|
|Fixed assets||||||||
|Tangible assets||||13||3,400,156|3,371,790|
|Investment|properties|||14||2,750,297|2,750,297|
|Investments||||15||1,100,268|1,225,002|
|||||||7,250,721|7,347,089|
|Current assets||||||||
|Debtors||||16|102,139||62,547|
|Cash at bank and||in|hand||117,610||181,458|
||||||219,749||244,005|
|Creditors:|amounts||falling due within|||||
|one year|||||(186,268)||(162,279)|
|Net current|assets|||||33,481|81,726|
|Total assets less||current liabilities||||7,284,202|7,428,815|
|Creditors:|amounts||falling due after|||||
|more than|one year|||19||(566,330)|(561,691)|
|Net assets||||||6,717,872|6,867,124|
|Income funds||||||||
|Restricted|funds|||21||703,049|877,760|
|Unrestricted|funds|||||6,014,823|5,989,364|
|||||||6,717,872|6,867,124|
##
##
||||||2020||2019||
|---|---|---|---|---|---|---|---|---|
|||||Notes|F||||
|Cash flows from operating||activities|||||||
|Cash absorbed
by operations||||24||(358,750)||(70,882)|
|Investing|activities||||||||
|Purchase|oftangible
fixed assets||||(42,698)||(1,076,001)||
|Purchase|of investments||||(336,692)||(191,952)||
|Proceeds|on disposal of investments||||419,208||490,423||
|Interest received|||||248,813||290,850||
|Net cash|generated
from/(used||in)||||||
|investing|activities|||||288,631||(486,680)|
|Financing|activities||||||||
|Repayment|of borrowings||||50,000||||
|Repayment|of bank loans||||(43,729)||487,856||
|Net cash|generated
from financing||||||||
|activities||||||6,271||487,856|
|Net decrease
in cash and||cash|equivalents|||(63,848)||(69,706)|
|Cash and|cash equivalents|at beginning||ofyear||181,458||251,164|
|Cash and|cash equivalents|at end of||year||117,610||181,458|
##
##
##
##
##
##
##
##
##
##
##
##
##
|trustees|responsibilities|with respect to the mainten|ance
ofthe almshouse
a|
|---|---|---|---|
|Property
Church|Extraordinary
at St Petrock|repair fund:
ERIF:|8200,000
f50,000|
|Reserve
Cyclical|fund:
maintenance|fund:|F65,000
f73,000|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
||||UnrestrictedUnrestricted|UnrestrictedUnrestricted|
|---|---|---|---|---|
||||funds|funds|
||||2020|2019|
||||f|f|
|Contributions|from Almshouse|residents|326,868|255,029|
|Other trading|activities||||
||||Unrestricted|Unrestricted|
||||funds|funds|
||||2020f|2019
f|
|Solar panel income|||8,452|9,648|
##
##
##
|||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|
|||funds|funds||funds|funds||
|||2020|2020|2020|2019|2019|2019|
|||f.||||f||
|Rental|income|224,680||224,680|261,937||261,937|
|Interest|and dividends|13,308|10,825|24,133|17,136|11,777|28,913|
|||237,988|10,825|248,813|279,073|11,777|290,850|
##
||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|
||||funds|funds||funds|funds||
||||2020|2020f|2020|2019
E|2019
F|2019
f|
|Service costs|||9,949||9,949|14,921||14,921|
|Insurance|||3,654||3,654|11,890||11,890|
|Legal and professional|||||||||
|fees|||20,814||20,814|12,681||12,681|
|Clerk's fees|||11,960||11,960|11,474||11,474|
|Depreciation|and||||||||
|impairment|||2,140||2,140|3,828||3,828|
|Support costs|||||||5,012|5,012|
||||48,517||48,517|54,794|5,012|59,806|
|Property
repairs|||3,749|284,960|288,709|14,714||14,714|
|Queen Street|||||||||
|management|fee||12,000||12,000|12,785||12,785|
||||15,749|284,960|300,709|27,499||27,499|
|Investment|mana|ement|||||||
|fees|||5,105|2,956|8,061|5,234|3,860|9,094|
||||69,371|287,916|357,287|87,527|8,872|96,399|
##
##
##
|||Unrestricted|Restricted|TotalUnrestricted|TotalUnrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|
|||funds|funds|2020|funds|funds|2019|
|||2020|2020||2019|2019||
|Depreciation|and|||||||
|impairment||12,192||12,192|5,882||5,882|
|Bad debts|||||438||438|
|Service costs||95,835||95,835|80,004||80,004|
|Insurance||5,821||5,821|6,767||6,767|
|Property
repairs||39,705|83,824|123,529|44,800|22,955|67,755|
|Legal and professional||6,851||6,851|2,522||2,522|
|Clerk's fees||32,893||32,893|31,553||31,553|
|Other expenses||2,743||2,743|5,047||5,047|
|Loan interest||20,832||20,832|15,091||15,091|
|||216,872|83,824|300,696|192,104|22,955|215,059|
|Grant funding|ofactivities|||||||
|(see note 8)||22,484||22,484|7,350||7,350|
|||239,356|83,824|323,180|199,454|22,955|222,409|
|Analysis
by|fund|||||||
|Unrestricted|funds|239,356||239,356|199,454||199,454|
|Restricted funds|||83,824|83,824||22,955|22,955|
|||239,356|83,824|323,180|199,454|22,955|222,409|
##
||||Unrestricted|Unrestricted|
|---|---|---|---|---|
||||funds|funds|
||||2020|2019|
||||F|f|
|Grants|to|institutions:|||
|Other|||20,000|5,000|
|Grants|to|individuals|2,484|2,350|
||||22,484|7,350|
##
##
##
|Other costs||||
|---|---|---|---|
|||Unrestricted|Unrestricted|
|||funds|funds|
|||2020|2019|
|||f.||
|Clerk's fees||4,984|4,781|
|Audit||4,824|4,758|
|Legal, professional|and bank fees|893|2,811|
|Cost ofobtaining|loan||6,218|
|||10,701|18,568|
##
##
##
|||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||funds|funds||funds|funds||
|||||2020|2020|2020|2019|2019|2019|
|||||f||||F||
|Revaluation|of|||||||||
|investments||||(28,580)|(24,764)|(53,344)|17,314|10,176|27,490|
|Gain/(loss)|on|sale|of|||||||
|investments||||5,567|5,560|11,127|(8,366)|(1,029)|(9,395)|
|||||(23,013)|(19,204)|(42,217)|8,948|9,147|18,095|
##
|13|Tangible fixed assets||||||||
|---|---|---|---|---|---|---|---|---|
||||Freehold|land|Leasehold|Fixtures and|Solar panels|Total|
||||and buildings||land and|fittings|||
||||||buildings||||
||Cost||||||||
||At 1 July 2019||2,928,738||338,207|60,945|76,585|3,404,475|
||Additions||42,698|||||42,698|
||At 30June 2020||2,971,436||338,207|60,945|76,585|3,447,173|
||Depreciation
and impairment||||||||
||At 1 July 2019|||||5,882|26,803|32,685|
||Depreciation
charged|in the year||||12,192|2,140|14,332|
||At 30June 2020|||||18,074|28,943|47,017|
||Carrying
amount||||||||
||At 30June 2020||2,971,436||338,207|42,871|47,642|3,400,156|
||At 30June 2019||2,928,738||338,207|55,063|49,782|3,371,790|
|14|Investment
property||||||||
|||||||||2020|
||Fair value||||||||
||At 1 July 2019and 30|June 2020||||||2,750,297|
##
##
|15|Fixed as|set inves|tments||||
|---|---|---|---|---|---|---|
|||||||Listed|
|||||||investments|
||At 1 July|2019||||1,225,002|
||Additions|||||336,692|
||Valuation|changes||||(42,216)|
||Changes|in bank cash holdings||||22,661|
||Disposals|||||(441,871)|
||At 30June 2020|||||1,100,268|
||Carrying|amount|||||
||At 30June 2020|||||1,100,268|
||At 30June 2019|||||1,225,002|
|16|Debtors||||||
||||||2020|2019|
||Amounts|falling due within one year:|||F||
||Other debtors||||87,469|59,723|
||Prepayments
and||accrued income||14,670|2,824|
||||||102,139|62,547|
|17|Loans and overdrafts||||||
||||||2020|2019|
||||||P|E|
||Bank loans||||444,127|487,856|
||Other loans||||50,000||
||||||494,127|487,856|
||Payable|within one year|||49,082|47,450|
||Payable|after one|year||445,045|440,406|
||Amounts|included|above which|fall due after five years:|||
||Payable|by instalments|||190,209|232,225|
##
##
##
|Creditors: amounts|falling due within one year||||
|---|---|---|---|---|
||||2020|2019|
|||Notes|||
|Bank loans||17|49,082|47,450|
|Trade creditors|||25,516||
|Other creditors|||36,375|3,925|
|Accruals and deferred|income||75,295|110,904|
||||186,268|162,279|
|Creditors: amounts|falling due after more than one year||||
|||Notes|2020f|2019|
|Bank loans||17|395,045|440,406|
|Other borrowings|||50,000||
|Deferred income||20|121,285|121,285|
||||566,330|561,691|
|Deferred income|||||
||||2020|2019f|
|Arising
from deferred|grant income||121,285|121,285|
##
|||||||~
N
Cl
Cl
C
N
Ylg|O
CV
O
Cil
N
N
O||lA||CO
IA
CI
(0||0l
CO|CD
'cl
CD|CD
'CICI
P)||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||N" 15 N
C C N
ON"N
N
N C-|||||CO0l
CO||ID0l
(0||Cl
CV
CD||
||||||||N||||||||||
|||||||N|Ol||||||||||
|||||||Cl|||||||||||
||||||N
'Da|IR
Na
NI-|||(il
CI||||CO
(0
N
(A|CO
lA
CI
CD|CO
CI
lA
Cl
CV||
||||||a||||||||||||
|||||CD
(D
CD0
CL
CL
O
4=|C
Ol
E
Cl
0K|N 'O
Q
N
Cl ~
O
0
NNxCl|||CO
Al
(0
CO||||(0
N|Cl(0
IA
lA|||
|||||O
Cl
CL
CD||Ol
C|N
N
P||CI
CO||||(0|(0
p|lA
CO||
|||||i0||OO
OON
Cl|||(A||||||Cl||
|||||CD|||||||||||||
|||||i|||||||||||||
|||||0||~
N
Cl|Cll
~
0||||||(0|(0|||
|||||6||Cl
N
N|CV||||||(A|CI|||
|||||CD|||||||||||||
|||||CDO|||||||||||||
|I-
lL
ZV
lO
CIZ
Z
lO|CI
UJDZI-Z00
lOI-Z|||(C
(C
CD
00
Cl
CD
CD
i
CL
E0
O
CD
(LI
O|N
'D
Cl
E
4l
0K|N" 'O
Ne
ONNN
N
N C—
N
Ol
Cl
Q
NO
I-
N 'O
Cl Q
Cl ~
0
NNx
Cl|||(il
lA
CI
CO(0
CI
(0
CI||0l
CO||(0
CO
CI
lA
p
CV0l|N
CI||0
N
O
0
CL
Ol
C
0
OO
e
C|
||LLI
UJ|Cho||i
CD
(D
Cl||Ol NQ
E O
OO|||||||(A
'cl|||0|
|I-||UJ||O||g|N
Cl|||||||||(C
E|
||lO|||||||||||||||CD|
|Z
CIZ|OZ
Z|CI
CI||i
(C
O
0||N
Cl
Cl
N|CC
~
0
Cil||(0
CO||||CI
CI|CI
0l
CO||CD
O
i
CD
0)|
||||N|CD||||||||||||i|
|V0
I-
CLI-
lO|LLIZI-0I-
lO
LLII-0Z|UJ
04.|C
iC
Ol
V
N
Cl
IL
CV|Cl
E0
O
I—|||||LL
CL'
CD
0
CL
CL|ln
O
~
8
CL
(7J|LL
CL'
IJJ
O
O|OC
(CC
(C
(p
O~C
O—
~ (C
O Z||LL
0)||0
0
CD
(C
(I)
CI|
##
##
|22|Analysis ofnet assets|Analysis ofnet assets|between funds||||||
|---|---|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
||||funds|funds||funds|funds||
||||2020|2020|2020|2019|2019|2019|
||||f.||||f|f|
||Fund balances at 30||||||||
||June 2020|are|||||||
||represented|by:|||||||
||Tangible assets||3,400,156||3,400,156|3,371,790||3,371,790|
||Investment|properties|2,750,297||2,750,297|2,750,296||2,750,296|
||Investments||622,804|477,464|1,100,268|724,393|500,609|1,225,002|
||Current assets/||||||||
||(liabilities)||(192,104)|225,585|33,481|(295,424)|377,151|81,727|
||Long term|liabilities|(566,330)||(566,330)|(561,691)||(561,691)|
||||6,014,823|703,049|6,717,872|5,989,364|877,760|6,867,124|
##
##
##
##
|24|Cash generated
from|operations|operations|||||2020f||2019|
|---|---|---|---|---|---|---|---|---|---|---|
||(Deficit)/surpus
for the|year||||||(149,252)||236,246|
||Adjustments
for:||||||||||
||Investment
income recognised||in statement||offinancial|activities||(248,813)||(290,850)|
||(Gain)/loss
on disposal|of investments||||||(11,127)||9,395|
||Fair value gains and losses on||investments|||||53,344||(27,490)|
||Depreciation
and impairment
oftangible|||fixed assets||||14,332||9,710|
||Movements
in working|capital:|||||||||
||(Increase)
in debtors|||||||(39,591)||(39,156)|
||Increase
in creditors|||||||22,357||31,263|
||Cash absorbed
by operations|||||||(358,750)||(70,882)|
|25|Analysis ofchanges|in net (debt)/funds|||||||||
||||||||At1 July 2019|Cash flows|At 30June 2020||
|||||||||f|||
||Cash at bank and
in hand||||||181,458|(63,848)||117,610|
||Loans falling due within|one year|||||(47,450)|(1,632)||(49,082)|
||Loans falling due after|more than one year|||||(440,406)|(4,639)||(445,045)|
||||||||(306,398)|(70,119)||(376,517)|