## **Essex Hall**
**Registered as a charity, number 248442 Incorporated under the Companies Act A Company Limited by Guarantee, number 00023132**
## **REPORT AND ACCOUNTS 31 DECEMBER 2021**
|References and Administrative details|1|
|---|---|
|Trustees’ Annual report|2-5|
|Report of the Auditors|6-9|
|Statement of Financial Activities|10|
|Balance sheet|11|
|Statement of Changes in Equity|12|
|Cashflow|13|
|Notes to the Accounts|14-18|
Page 1
## **ESSEX HALL**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
**Registered charity name Essex Hall Incorporated Charity Registration Number 248442 Company Registration Number 00023132**
**Members during the year and up to the date of signature of the financial statements**
Rev Peter Hewis (Chairman) (Resigned 25 May 2022) Alan R Ruston Dr David L Wykes Derek McAuley (Resigned 25 May 2022) Jeffrey J Teagle (Treasurer) Andrew G Mason (Secretary)
Christine Martin (resigned 4 May 2021) Elizabeth Slade John M Barber Rev Martin Whitell Sarah Boyce Joanne T O’Sullivan
## **Principal and Registered Office**
Essex Hall 1/6 Essex St London WC2R 3HY
## **Auditors**
Shaw Gibbs (Audit) Limited Chartered Certified Accountants 264 Banbury Road Oxford OX2 7DY
## **Bankers**
CAF Bank Ltd 125 Kings Hill Avenue West Malling, Kent ME19 4 JQ
## **Investment Managers**
Redmayne Bentley 9 Bond Court, Leeds LS1 2JZ
Page 2
## **TRUSTEES’ ANNUAL REPORT INCORPORATING STRATEGIC REPORT Charity Registration Number 248442 Year Ended 31 December 2021**
The Trustees, who are also directors for the purposes of Company Law, have pleasure in presenting their report and the financial statements of the charity for the year ended 31 December 2021.
## **Trustees of the charity**
The trustees who have served during the year and since the year end were as follows:
Rev Peter Hewis (Chairman) (Resigned 25 May Christine Martin (resigned 4 May 2021) 2022) Elizabeth Slade Alan R Ruston John M Barber Dr David L Wykes Rev Martin Whitell Derek McAuley (Resigned 25 May 2022) Sarah Boyce Jeffrey J Teagle (Treasurer) Joanne T O’Sullivan Andrew G Mason (Secretary)
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The charity is registered with the Charity Commission in England and Wales, and is a company limited by guarantee registered at Companies House. The charity was incorporated on 5[th] August 1886 and is governed by its Memorandum and Articles of Association, which were amended in May 2019.
## **Risk Management**
The Committee have examined the major strategic and operational risks which the charity faces and confirms that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
## **Membership**
There were 11 Members at the end of 2021 (2020:12).
## **Public Benefit**
The trustees have taken into account the Charity Commission guidance on public benefit and believe that the activities of the charity are in line with that guidance.
## **OBJECTIVES AND ACTIVITIES**
The objects for which the Company is established are specifically restricted to:
1. the promotion of religion in accordance with the principles of the General Assembly of Unitarian and Free Christian Churches; and
2. such other object or objects, religious, educational or otherwise exclusively charitable, and in such manner in all respects as the Directors of the Company shall from time to time in their unfettered discretion decide.
Page 3
## **OBJECTIVES AND ACTIVITIES (CONTINUED..)**
The Charity’s activities have included:
- a) Making accommodation available for the General Assembly of Unitarian and Free Christian Churches and the British and Foreign Unitarian Association (Inc)
- b) Providing a meeting place for Unitarian and kindred bodies in the London area c) Renting surplus accommodation to commercial organisations
- d) Occasional lettings of meeting rooms to outside bodies e) Providing a grant to the General Assembly of Unitarian and Free Christian Churches
## **FINANCIAL REVIEW**
## **Reserves Policy**
’ Rent Reserve – The Trust s policy is to maintain sufficient reserves to meet current anticipated liabilities. Repairs Reserve – The Trust’s policy is to maintain sufficient reserves to meet anticipated repairs. Sinking Funds – Sinking Funds have been set up to meet predicted future costs for known large capital items: the roof, lift and heating system.
## **Investment Policy**
The investment objective is to maximise a balanced return from income and capital over the longer term without taking undue risk. This is achieved by investing principally in listed common investment trusts and fixed interest stocks. The following ethical restriction applies to the portfolio – direct investment in armament, tobacco and gambling involvement is not permitted.
## **Tenants’ Report**
Retail floor: the shop front is unoccupied and has been since 2020. The General Assembly intend to occupy this space in future.
Ground Floor: Whitestone Chambers, a firm of barristers, occupy the Martineau Hall.
First Floor: The upper level is occupied by the General Assembly of Unitarian & Free Christian Churches, along with the Lindsey Room at the front. The General Assembly also occupies storage space in part of the basement (including the Harman Room) and a Ground Floor Reception. The lower level of the first floor is occupied by Little Essex Street Service Company (previous Brick Court Chambers), a Barristers’ Chambers. Second Floor: Little Essex Street Service Company (previous Brick Court Chambers) occupy the entire second floor office space.
Third Floor: Little Essex Street Service Company (previous Brick Court Chambers) occupy the entire third floor office space (excluding the Caretaker ’ s Flat).
## **PLANS FOR FUTURE PERIODS**
The Trustees will continue to let out space in the building in order to further the Trust’s activities and objectives. The building is now fully occupied apart from the shop and as a consequence of this, there is a cash surplus available for improvements. There is a surplus of £152,989 for the year.
Page 4
## **ACHIEVEMENTS AND PERFORMANCE Impact of Covid19.**
The Trust’s investments have been subject to fluctuations in value during the year. The impact of these factors has been to reduce income but has not resulted in a crisis. The location of Essex Hall in a central area for the legal profession has given hope for recovery and long-term security. The surplus for the year, and reserves built up over the past decade, should ensure that the Trust remains in robust financial health until the London property market recovers. The Trustees cannot take this for granted and remain alert to the impact of Covid19.
## **LOAN TO THE GENERAL ASSEMBLY OF UNITARIAN AND FREE CHRISTIAN CHURCHES**
In May 2020 the Trust made an unsecured loan of £150,000 to the General Assembly of Unitarian and Free Christian Churches without an interest charge for one year. The loan was repaid in May 2021.
## **RESPONSIBILITIES OF THE TRUSTEES**
The trustees (who are also directors of Essex Hall for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to:
- Select suitable accounting policies and then apply them consistently
- Observe the methods and principles in the Charities SORP (FRS 102)
- Make judgements and estimates that are reasonable and prudent
- State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- There is no relevant audit information of which the charity’s auditors are unaware; and
- The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
**Page 5**
## **Auditor**
A resolution to re-appoint Shaw Gibbs (Audit) Limited as auditor for the ensuing year will be proposed at the Annual General Meeting.
Registered Office Essex Hall 1-6 Essex Street London WC2R 3HY
Andrew Mason Signed by order of the trustees Andrew Mason, Secretary Date: 26th September 2022
Page 6
## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF ESSEX HALL Year Ended 31 December 2021**
## **Opinion**
We have audited the financial statements of Essex Hall (the ‘ charitable company ’ ) for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet, statement of cashflows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- ’
- give a true and fair view of the state of the charitable company s affairs as at 31 December 2021, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and ’ applicable law. Our responsibilities under those standards are further described in the Auditor s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC ’ s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the finical statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are descried in the relevant sections of this report.
Page 7
## **Other information**
The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The trustees 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 information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the trustees’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the trustee’s report has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustee’s report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors’ remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report.
Page 8
## **Responsibilities of trustees**
As explained more fully in the trustee’s responsibilities statement set out on page 4, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
’ In preparing the financial statements, the trustees are responsible for assessing the charitable company s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor** ’ **s responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor ’ s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council ’ s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor ’ s report.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:
1. At the planning stage of the audit we gain an understanding of the laws and regulations which apply to the company and how the management seek to comply with those laws regulations. This helps us to plan appropriate risk assessments.
2. During the audit we focused on relevant risk areas and review the compliance with the laws and regulations by making relevant enquiries and undertaking corroboration, for example by reviewing Board Minutes and other documentation.
3. We assessed the risk of material misstatement in the financial statements including as a result of fraud and undertook procedures including:
- a. Reviewing the controls set in place by management
- b. Making enquiries of management as to whether they consider fraud or other irregularity may have taken place, or where such opportunity might exist
- c. Challenging management assumptions with regard to accounting estimates
- d. Identifying and testing journal entries, particularly those which appear to be unusual by size or nature
Page 9
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the
events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
## **Use of our Report**
This report is made solely to the charitable company’s trustees as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s trustees those matters we are required to state to them in the auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s trustees as a body, for our audit work, for this report or for the opinions we have formed.
Samantha Daniels 28 Sep 2022 **Samantha Daniels (Senior Statutory Auditor) For and on behalf of Shaw Gibbs (Audit) Limited, Chartered Certified Accountants Statutory Auditor**
**264 Banbury Road, Oxford, OX2 7DY**
**Page 10**
## **ESSEX HALL**
## **Incorporated under the Companies Act A Company Limited by Guarantee STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021**
|Unrestricted Funds include Designated Funds and||**Unrestricted**|**Restricted**|**2021**||**Restricted**|**2020**|
|---|---|---|---|---|---|---|---|
|Revaluation Reserve.||**Funds**|**Funds**|**Total**|**Unrestricted Funds**|**Funds**|**Total**|
|**_Incoming Resources_**||£|£|£|£|£|£|
|Incoming resources from charitable activities||||||||
|- Rents Receivable||389,405||389,405|413,776||413,776|
|- Service Charges||120,245|8,599|128,844|76,695|8,750|85,445|
|- Misc Income||2,000||2,000|500||500|
|Other income||16|13|29|6,428||6,428|
|Investment income and interest||37,398||37,398|33,718|89|33,807|
|**Total incoming resources**||549,064|8,612|557,676|531,117|8,839|539,956|
|**_Resources Expended_**||||||||
|Charitable activities||||||||
|-Grant to the General Assembly||226,000||226,000|226,000||226,000|
|-Service Costs|2|193,890||193,890|77,064||77,064|
|Other Costs|2|87,412||87,412|61,914||61,914|
|**Total Resources expended**||507,302|-|507,302|364,978|-|364,978|
|**Net incoming / outgoing**||||||||
|**resources before transfers**||41,762|8,612|50,374|166,139|8,839|174,978|
|Gross Transfers between funds||||-|||-|
|**Net incoming / outgoing resources**||||||||
|**before other recognised gains and losses**||41,762|8,612|50,374|166,139|8,839|174,978|
|Other recognised gains / (losses)||||||||
|Gains/(Losses) on Investment assets||102,615||102,615|(19,702)||(19,702)|
|**Net movement in funds**||144,377|8,612|152,989|146,437|8,839|155,276|
|Funds brought forward at 1st January 2021||11,895,907|133,144|12,029,051|11,749,470|124,305|11,873,775|
|Net movement in funds||144,377|8,612|152,989|146,437|8,839|155,276|
|**Funds carried forward at 31st December 2021**||12,040,284|141,756|12,182,040|11,895,907|133,144|12,029,051|
Company Registration No 00023132
**Page 11**
## **ESSEX HALL**
## **Incorporated under the Companies Act A Company Limited by Guarantee BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2021**
||**Note**|**2021**|**2021**|**2020**|**2020**|
|---|---|---|---|---|---|
|||**£**|**£**|**£**|**£**|
|**Fixed Assets**||||||
|Investment property|3|10,500,000||10,500,940||
|Listed Investments|4|1,286,028||937,203||
||||11,786,028||11,438,143|
|Sundry Debtors|5|96,300||40,622||
|Debtors: amounts falling||||||
|due within one year|5|-||150,000||
|Cash at bank and in hand||524,681||534,206||
|||620,981||724,828||
|Creditors : amounts falling|6|(224,969)||(133,920)||
|due within one year||||||
||||396,012||590,908|
||||12,182,040||12,029,051|
|**Capital Accounts**||||||
|Unrestricted Funds|13|1,515,328||1,370,951||
|Restricted Funds|9|141,756||133,144||
|Designated Funds|8|370,682||370,682||
|Revaluation reserve|13|10,154,274||10,154,274||
||||12,182,040||12,029,051|
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
> These financial statements were approved by the members of the Committee and authorised for issue on 26 Sep 2022 and are signed on their behalf by:-
Jeffrey Teagle Treasurer
The notes on pages 13 to 16 form part of these accounts
Company Registration No 00023132
**Page 12**
## **ESSEX HALL**
## **Incorporated under the Companies Act A Company Limited by Guarantee STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31ST DECEMBER 2021**
||**Revaluation**|**Unrestricted**|**Restricted**|**Designated**||
|---|---|---|---|---|---|
||**Reserve**|**Funds**|**Funds**|**Funds**|**Total**|
|Balance at December 2019|10,154,274|1,224,514|124,305|370,682|**11,873,775**|
|**Year ended 31 December 2020**||||||
|Net movement in funds|0|146,437|8,839||**155,276**|
|Transfers|0|0|0||**0**|
|**Balance at 31 December 2020**|10,154,274|1,370,951|133,144|370,682|**12,029,051**|
|**Year ended 31 December 2021**||||||
|Net movement in funds|0|144,377|8,612||**152,989**|
|Transfers|0|0|0||**0**|
|**Balance at 31 December 2021**|**10,154,274**|**1,515,328**|**141,756**|**370,682**|**12,182,040**|
Company Registration No 00023132
**Page 13**
## **ESSEX HALL**
## **Incorporated under the Companies Act A Company Limited by Guarantee**
|**STATEMENT OF CASHFLOWS FOR THE YEAR**|**STATEMENT OF CASHFLOWS FOR THE YEAR**|**ENDED 31**|**DECEMBER 2021**||
|---|---|---|---|---|
||**2021**|**2021**|**2020**|**2020**|
|**Cash flow from operating activities**|199,273||(12,245)||
|Net cash flow from charitable activities||199,273||(12,245)|
|**Cash flow from investing activities**|||||
|Payments to acquire investments|(246,210)||(50,958)||
|Interest received|29||136||
|Dividends received|37,382||33,617||
|Net cash flow from investing activities||(208,799)||(17,205)|
|**Cash flow from financing activities**|||||
|Net increase / (decrease) in cash and cash equivalents||(9,526)||(29,450)|
|Cash and cash equivalents at start date|534,206||563,658||
|Cash and cash equivalents at end date|524,681||534,206||
|**Cash and cash equivalents consists of:**|||||
|Cash at bank and in hand|524,681||534,206||
|Cash and cash equivalents at end date|524,681||534,206||
Reconciliation of net income / (expenditure) to net cash flow from operating activities
||**2021**|**2020**|
|---|---|---|
|Net income / (expenditure) for year / period|152,989|155,276|
|Dividends received|(37,382)|(33,617)|
|Interest receivable|(29)|(136)|
|Depreciation and impairment of tangible fixed assets|940|710|
|(Gains) / losses on investments|(102,615)|19,702|
|(Gains)/losses on tangible assets|||
|(Increase) / decrease in debtors|94,322|(160,498)|
|Increase / (decrease) in creditors|91,049|6,318|
|Net cash flow from operating activities|199,273|(12,245)|
Page 14
## **ESSEX HALL**
## **NOTES TO THE ACCOUNTS - 31 DECEMBER 2021**
## **1) ACCOUNTING POLICIES**
## **a) Basis of preparation**
The financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (FRS 102), the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime and Statement of Recommended Practice Accounting and Reporting by Charities (SORP FRS 102).
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared on the historical cost convention, modified to include listed investments and freehold property at fair value (effectively market value). The principal accounting policies adopted are set out below.
Essex Hall meets the definition of a public benefit entity under FRS102.
## **b) Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds are represented by income received for specific purposes as laid down by the donors. Expenditure meeting the criteria of the specified purposes is charged against the funds, together with a fair allocation of overheads and support costs.
Designated funds are unrestricted funds earmarked by the Board for particular purposes.
## **c) Reconciliation with previous Generally Accepted Accounting Practice**
These financial statements for the year ended 31 December 2021 are prepared in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland.
## **d) Investment income**
Investment income is accounted for in the period in which the charity is entitled to receipt of the income. Income from rent and service charges is recognised when invoiced with amounts invoiced in advance of the rental period (which excludes rent free periods) carried forward as deferred income.
## **e) Resources expended**
Resources expended (including grants) are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered, and are classified under headings that aggregate all costs related to that activity as detailed in note 3 to the financial statements.
Page 15
## **f) Depreciation**
Furniture and fittings are depreciated so as to write off their cost over their estimated useful lives at the rate of 10% on the written down value.
## **g) Pensions**
The pension costs charged in the financial statements represent the contribution payable by the company during the year.
## **h) Investment properties**
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in ‘net gains/(losses) on investments’ in the SoFA.
## **i) Fixed asset investments**
Listed investments are stated at market value. Changes in market value are credited or charged to the Statement of Financial Activities. Gains and/or losses arising from the disposal of shares are recognised as being realised whereas gains and/or losses arising from the movement in share prices are recognised as being unrealised.
## **j) Taxation**
Essex Hall is a charitable institution with exemption from UK Corporation Tax under Section 478 of the Corporation Tax Act 2010.
## **k) Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
## **l) Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operation existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Page 16
## **ESSEX HALL**
## **Incorporated under the Companies Act A Company Limited by Guarantee For the year ended 31 December 2021**
## **2- RESOURCES EXPENDED**
**----- Start of picture text -----**
Service Other Total Service Other Total
Costs Costs 2021 Costs Costs 2020
Rates 42,193.00 42,193.00 16,980.00 16,980.00
Water Rates (1,043) (1,043) 2,913.00 2,913.00
Insurance 13,743.00 13,743.00 14,389.00 14,389.00
Lighting and Heating 10,656.00 10,656.00 9,985.00 9,985.00
Caretaking and Cleaning 37,208.00 37,208.00 32,076.00 32,076.00
Management and Office Expenses 1,040.00 1,040.00 883.00 883.00
Audit incl Service charge audit 5,308.00 5,308.00 1,350.00 3,450.00 4,800.00
Professional Fees 24,507.00 24,507.00 35,592.00 35,592.00
Depreciation of Fixtures and Fittings 940.00 940.00 710.00 710.00
Repairs 131,243.00 131,243.00 18,381.00 18,381.00
Bad debts Prev Yr Service Charge Whitestone 9,779.00 9,779.00 0.00
Irrecoverable VAT 5,728.00 5,728.00 2,269.00 2,269.00
193,890.00 87,412.00 281,302.00 77,064.00 61,914.00 138,978.00
Caretaking and cleaning costs include the following staff costs
2021 2020
Wages and salaries 28,077 25,078
Social security costs - -
Pension costs* see Note11 1,447 1,472
29,524 26,550
**----- End of picture text -----**
The average number of full time equivalent employees was 2 (2020-2) No employee earned in excess of £60,000
Total trustees' remuneration in the year was nil(2020:- £NIL)
Expenses were not claimed in 2021 (2020:£13 to one trustee)
## **3-INVESTMENT PROPERTY**
|Cost or valuation
at 1 Jan 2021
Depn B/fwd 1 Jan 2020
Depreciation
Net Book Value
at 31 Dec 2021
at 31 Dec 2020|**Investment**
**Property incl**
**Furniture &**
**Total**
**Refurbishment**
**Fittings**
10,500,000
10,648
10,510,648
-
9,709
9,709
-
940
940
-
10,649
10,649
10,500,000
-
10,500,000
10,500,000
940
10,500,940|
|---|---|
The directors have reviewed available information, including insurance valuation and those from property professionals and are of the opinion that the value of the investment property throughout the year was £10.5M
Company Registration No 00023132
Page 17
## **ESSEX HALL**
## **Incorporated under the Companies Act A Company Limited by Guarantee For the year ended 31 December 2021**
## **4-FIXED ASSET INVESTMENTS**
|**4-FIXED ASSET INVESTMENTS**|**4-FIXED ASSET INVESTMENTS**|
|---|---|
|**Market**
**Gains/**
**Market**
HOLDING
**Value 2020**
**Additions**
**Disposals**
**Losses**
**Value 2021**||
|21,080
Artemis Fd Mngers Income Inc
48,119
5,724
53,843
21,250
Aurora Inv Trust plc
43,988
5,843
49,831
15,300
Baillie Gifford Positive Change
63571
(5,615)
57,956
19,335
Bmo Responsible UK Income 2Dis
33,836
4,544
38,380
30,000
Civitas Social Housing plc GBP 0.0
31,440
(2,370)
29,070
17,500
Foresight Grp LLP
24,474
(1,013)
23,461
28,770
Fil Inv Svcs Moneybuilder Income
37,833
(1,727)
36,106
5,900
Henderson Glbl Invs UK Equity Inco
32,491
4,242
36,733
15000 Henderson Global Sustainable Equ
74,280
13,155
87,435
32500 Home Reit plc Ords £0.01 CALL
32,400
32700
30798
7,948
42,250
25000 JL Environmental Asset Grp Ltd
28,500
(2,250)
26,250
50,000
Legg Mason
61,800
61885
85
-
20,000 Link Fund Solutions Asi Income
10,308
874
11,182
15,250 Link Fund Solutions Majedie UK Inc
20,055
0
1,942
21,997
39970 Link Fund Trojan Ethical
50101
1,728
51,829
20,000
Londonmetric Property plc
45,800
10,880
56,680
50,000
Lxi Reit
59,500
13,000
72,500
90,800
M&G Securities Ltd Corporate Bond
39,543
(1,661)
37,882
15,000
SenecaMomentum Multi Asset
24,713
3,825
28,538
32,350
Montanaro Better World
61836
3,152
64,988
30,000
Nextenergy Solar Fund Ltd
31,980
(1,500)
30,480
37,600
Ninety One Global Environment
61851
2,201
64,052
56,000
Premier Miton Global Sustainable
61727
1,385
63,112
22,477
Randall & Quilter Inv Holdings
39,560
37083
(2,477)
-
30,000
Retail Charity Bonds plc
30,990
975
31,965
30,000
Tritax Big Box Reit plc
50,370
24,330
74,700
40,000
Tritax Eurobox plc
39,520
7,280
46,800
30,000
Twentyfour Select Monthly Inc Fd
26,670
1,800
28,470
10,000
Vodafone
12,094
11715
(379)
-
17,500
Value Trac Listed Prop Gravis Feed
17,218
4,440
21,658
41,950
Value Trac Clean Energy Income
55902
(478)
55,424
37,000
Value Trac UK Infrastruct
39,720
2,737
42,457||
|Subtotal
Opening Balance at 1st January
Add: Acquisitions at cost
less: disposals at opening book va
Net gain/(loss) on revaluation
Realised gain/( loss) on disposal
Market Value as at 31st December
Historical Cost as at 31st Decemb
**5-DEBTORS**
Trade Debtors
Loan to the General Assembly
Prepayments and Accrued Income
Total Debtors
**6- CREDITORS: AMOUNTS FALLING DUE**
Other Creditors and Accruals
Deferred income
VAT, Taxation and Social Security
Trade creditors
Total Creditors|937,202
387,688
141,481
102,619
1,286,029
**2021**
**2020**
937,202
905,945
387,688
80,625
lue
(141,481)
(29,667)
105,390
(4,542)
(2,771)
(15,159)
2021
1,286,028
937,202
er 2021
1,093,829
823,225
**2021**
**2020**
78,433
30,494
0
150,000
17,867
10,128
96,300
190,622
**WITHIN ONE YEAR**
**2021**
**2020**
133,057
18,210
75,953
84,965
13,779
27,950
2,180
2,795
224,969
133,920|
Company Registration No 00023132
Page 18
## **ESSEX HALL**
## **Incorporated under the Companies Act**
## **A Company Limited by Guarantee**
## **For the year ended 31 December 2021**
## **7-UNRESTRICTED FUNDS**
**----- Start of picture text -----**
2021 2020
Capital Account 30,461 30,461
Appeal Fund 66,446 66,446
Income and Expenditure Account 1,418,421 1,274,044
from SOFA 1,127,607
1,515,328 1,370,951 1,224,514
8-DESIGNATED FUNDS
BALANCE INCOMING OUTGOING BALANCE
01/01/21 RESOURCES RESOURCES 31/12/21
Repairs Reserve 295,682 - - 295,682
Rent Reserve 75,000 - - 75,000
370,682 - - 370,682
9- RESTRICTED FUNDS
BALANCE INCOMING OUTGOING BALANCE
01/01/21 RESOURCES RESOURCES 31/12/21
Sinking Fund -Roof 85,239 4,777 - 90,016
Sinking Fund -Lift 26,715 2,548 - 29,263
Sinking Fund - Heating 20,867 1,274 - 22,141
Bank Interest 323 13 - 336
133,144 8,612 - 141,756
**----- End of picture text -----**
The Sinking Fund represents contributions received from tenants to be used towards future capital expenditure.
## **10-CAPITAL COMMITMENTS**
There were no capital commitments either contracted for or authorised at the Balance Sheet date (2020 £NIL)
## **11-LIABILITY OF MEMBERS**
In the event of the Society being wound up during the period of membership or within one year afterwards, every member undertakes to contribute to the assets of the Company an amount not exceeding £5 for the payment of debts contracted up to the date of cessation of membership together with the costs of winding up.
The number of members at 31st December 2021 was 11(2020: 12).
## **12-PENSION COSTS AND RELATED CONTINGENT LIABILITY**
The company used to contribute to a defined contribution scheme. The final amount payable to the Pensions Trust was £256 in 2020.
## **13- ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|Tangible Fixed Assets
Investments
Net Current Assets|**Unrestricted**
**Designated**
**Restricted**
**Revaluation**
**2021**
**Funds**
**Funds**
**Funds**
**Reserve**
**Total**
345,726
-
-
10,154,274
10,500,000
1,286,029
-
-
-
1,286,029
-116,427
370,682
141,756
-
396,011
1,515,328
370,682
141,756
10,154,274
12,182,040|
|---|---|
Company Registration No 00023132
**Issuer** Shaw Gibbs **Document generated** Mon, 26th Sep 2022 15:35:31 BST **Document fingerprint** 85d389ff0a8580c6959c8c37f12056d0
## **Parties involved with this document**
## **Document processed**
## **Party + Fingerprint**
|Mon, 26th Sep 2022 16:03:38 BST|Andrew Mason - Signer (8bb7425a9c1321185d1c4c1f4c302a21)|
|---|---|
|Mon, 26th Sep 2022 16:36:47 BST|Jeffrey Teagle - Signer (30d7237a4ec47520fca85bbcc9b53880)|
|**Audit history log**||
|**Date**|**Action**|
|Mon, 26th Sep 2022 16:36:47 BST|The envelope has been signed by all parties. (81.156.50.131)|
|Mon, 26th Sep 2022 16:36:47 BST|Jeffrey Teagle signed the envelope. (81.156.50.131)|
|Mon, 26th Sep 2022 16:34:27 BST|Jeffrey Teagle viewed the envelope. (81.156.50.131)|
|Mon, 26th Sep 2022 16:34:17 BST|Jeffrey Teagle opened the document email. (81.156.50.131)|
|Mon, 26th Sep 2022 16:34:17 BST|Jeffrey Teagle opened the document email. (81.156.50.131)|
|Mon, 26th Sep 2022 16:04:44 BST|Andrew Mason opened the document email. (109.73.121.1)|
|Mon, 26th Sep 2022 16:04:37 BST|Andrew Mason opened the document email. (109.73.121.1)|
|Mon, 26th Sep 2022 16:03:41 BST|Andrew Mason viewed the envelope. (109.73.121.1)|
|Mon, 26th Sep 2022 16:03:39 BST|Document emailed to jeffteagle@btinternet.com (35.178.184.165)|
|Mon, 26th Sep 2022 16:03:38 BST|Sent the envelope to Jeffrey Teagle (jeffteagle@btinternet.com) for signing.|
||(109.73.121.1)|
|Mon, 26th Sep 2022 16:03:38 BST|Andrew Mason signed the envelope. (109.73.121.1)|
|Mon, 26th Sep 2022 16:02:51 BST|Andrew Mason viewed the envelope. (109.73.121.1)|
|Mon, 26th Sep 2022 16:02:45 BST|Andrew Mason opened the document email. (109.73.121.1)|
|Mon, 26th Sep 2022 15:38:17 BST|Document emailed to amason@unitarian.org.uk (35.177.196.239)|
|Mon, 26th Sep 2022 15:38:17 BST|Sent the envelope to Andrew Mason (amason@unitarian.org.uk) for|
||signing. (89.197.20.206)|
|Mon, 26th Sep 2022 15:36:18 BST|Jeffrey Teagle has been assigned to this envelope (89.197.20.206)|
|Mon, 26th Sep 2022 15:36:18 BST|Andrew Mason has been assigned to this envelope (89.197.20.206)|
|Mon, 26th Sep 2022 15:35:35 BST|Document generated with fingerprint 85d389ff0a8580c6959c8c37f12056d0|
||(89.197.20.206)|
Mon, 26th Sep 2022 15:35:31 BST Envelope generated by Sue Whitthread (89.197.20.206)
**Issuer** Shaw Gibbs **Document generated** Mon, 26th Sep 2022 16:41:53 BST **Document fingerprint** 2f3bf4752fa18ddc797923d377769938
## **Parties involved with this document**
**Document processed Party + Fingerprint** Wed, 28th Sep 2022 11:06:12 BST Samantha Daniels - Signer (9942efa88b96a0b4d64d208f233ccd14) **Audit history log Date Action** Wed, 28th Sep 2022 11:06:12 BST The envelope has been signed by all parties. (89.197.20.206) Wed, 28th Sep 2022 11:06:12 BST Samantha Daniels signed the envelope. (89.197.20.206) Wed, 28th Sep 2022 11:05:33 BST Samantha Daniels viewed the envelope. (89.197.20.206) Mon, 26th Sep 2022 16:42:39 BST Document emailed to samantha.daniels@shawgibbs.com (18.133.124.99) Mon, 26th Sep 2022 16:42:39 BST Sent the envelope to Samantha Daniels (samantha.daniels@shawgibbs.com) for signing. (89.197.20.206) Mon, 26th Sep 2022 16:42:12 BST Samantha Daniels has been assigned to this envelope (89.197.20.206) Mon, 26th Sep 2022 16:41:59 BST Document generated with fingerprint 2f3bf4752fa18ddc797923d377769938 (89.197.20.206) Mon, 26th Sep 2022 16:41:53 BST Envelope generated by Sue Whitthread (89.197.20.206)