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2020-12-31-accounts

Reports
Legal and administrative information
Report ofthe Trustees 2-5
Independent examiner's report
Accounts
Statement of Financial Activities
Balance Sheet
Notes to the accounts 9-18

2020 2019
Unrestricted Designated Endowment Total Total
funds funds funds funds funds
Note
Income and Endowments
Investment
Income		 33,426 33,426 36,638
Residents contributions 167,269 167+69 .174,373
Donations
and Legacies
Total Income 200,695 200,695 211,011
Expenditure
Expenditure
on charitable		 activities 188,680 3,489 192,169 180,340
Total Expenditure 188,680 3,489 192,169 180,340
Net income before transfers 12,015 (3,489) 8,526 30,671
Transfer between
funds		 15 (15,000) 15,000
Net income before (Loss)/ Gain
investments		 on (2,985) 11,511 8,526 30,671
Net (Loss)/Gain
on investment		 assets (17,889) (20,262) (104,021) (142,172) 121,746
(17,8&9) (20,262) (104,021) (142,172) 121,746
Net Movement
in Funds		 (20,874) (8,751) (104,021) (133,646) 152,417
Fund Balances
at the start ofthe year		 214,914 178,594 599,563 993,071 840,654
Fund Balances
at the end ofthe year		 194,040 169,843 495,542 859,425 993,071
2020 2019
Unrestricted Designated Endowment Total Total
Note Funds Funds Funds Funds Funds
f f f f f
Fixed assets
Tangible fixed assets 88,001 88,001 64,874
Investment
portfolio
value		 at market 10 18,309 169,843 495,542 683,694 821,541
106,310 169,843 495,542 771,695 886,415
Current assets
Debtors 3,392 3@92 8,145
Cash at bank and in hand 121,119 121,119 109,783
124,511 124,511 117,928
Creditors: amounts
within one year		 falling due 12 36,781 36,781 11,272
Net current assets 87,730 87,730 106,656
Total assets less current
liabilities		 194,040 169,843 495,542 859,425 993,071
Represented
by:
Funds and reserves 15
Permanent
endowment		 funds 495,542 495,542 599,563
Designated
funds—
extraordinary
repairs		 169,843 169,843 178,594
Unrestricted
(general)
funds		 194,040 194,040 214,914
194,040 169,843 495,542 859,425 993,071

ts expected
useful life. No depreciation
is provide		 d
on freehold
land.
Asset Lives Years
Kitchen 15
Bathroom 15
Electrics 40
Security equipment

Investmen t
Income
Investment Income 2020
f		 2019
f
Dividends from Endowment Funds 24,189 29,966
Dividends from General Funds 9,036 5,837
Bank Deposit Interest 200 835
33,425 36,638

2020 2019
Direct Expenditure f
Repairs &maintenance (note 4) 67,309 44,464
Cleaning 3,034 3,499
Upkeep ofGardens 22,455 23,064
Lighting
and Heating		 20,390 18,595
Water rates and Council tax 3,751 2,705
insurance 3,549 3,274
Telephone 675 773
Gifts to residents 1,024 1,023
Donations 100 880
Residents
Welfare		 2,156 2,713
Careline/
Emergency		 Warden Service 3,503 3,475
Depreciation 7,129 2,143
Support costs (note 5) 1,765 1,254
Governance
costs (note		 6) 51,840 48,880
Total expenditure
(General		 Funds) 188,680 156,742
Cyclical repairs (Designated Funds) 3,489 23,598
Total Expenditure —all funds 192,169 180,340

Repairs
2020 2019
E E
Flat refurbishments and access 22,543 11,362
Surveyors fees 1,740 0
Boiler &Heating overhaul & repair 11,776 4,361
Water hygiene works 1,384 1,234
Fire alarm, extinguishers &doors 4,221 3,728
Electrical testing and repairs 3,702 3,829
Day to day repairs 20,767 18,826
Pest Control 1,176 1,124
67,309 44,464
Support Costs
2020 2019
E E
Other expenditure 1,765 1,254

Governance Costs
2020 2019
f E
Independent Examiner's fees 3,120 2,880
Management fees 48,720 46,000
51,840 48,880

At 1January 2020 67,119
Additions 30,256
At 31December 2020 97,375
Depreciation
At 1January 2019 2,245
Charge for year 7,129
At 31December 2020 9,374
Net book value
At 31December 2020 88,001
At 31December 2019 64,874

10Investments
Units Cost 2020 2019
E E E
Endowments
MRG Charifund
Income Units
Grasvenor
Trust		 46.12 772 766
The Leathersellers'
Barnet Charities
(formerly
Coverley and Bunce)		 1,016.33 17,012 13,950 16,878
The Leathersellers'
(formerly
Bunce)		 Barnet Charities 177.61 2,973 2,438 2,950
The Leathersellers' Benevolent Fund 3,494.18 58,488 47,960 58,027
The Leathersellers' Benevolent Fund 1,943.00 20,847 26,669 32,267
The Ann Elliott and Others Trust 29,426.00 471,619 403,892 488,675
36,103.24 571,711 495,542. 599,563
signifies value
at transfer
General and Designated
Funds
MRG Charifund
Accumulation		 Units
The Leathersellers' Barnet Charity 376.093 44,832 91,628 105,192
376.093 44,832 91,628 105,192
MSG Charifund
Income Units
The Leathersellers' Barnet Charity 7,032.36 115,729 96,524 116,786
7,032.36 115,729 96,524 116,786
Total at end ofyear 732,272 683,694 821,541
Movement
on Investments
Valuation
at the start of the year		 821,541 699,795
Additional
investment
(Restricted fund)		 4,325
825,866 699,795
Revaluation
(Loss)/Gain		 (142,172) 121,746
Valuation
at the end		 of the year 683,694 821,541

1Debtors
2020 2019
f f
Trade debtors 685 5,041
Prepayments 2,617 2;711
Other debtors 90 393
3,392 8,145

2Creditors: amo unts
falling due within one year
2020 2019
f E
Trade creditors 26,860 1,778
Resident accounts in credit 3,957
Accruals 5,964 9,494
36,781 11,272

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