| Contents | Page | |
|---|---|---|
| Trustees' report |
1-3 | |
| Independent Auditor's |
report | 4-6 |
| Statement offinancial | activities | |
| Balance sheet | ||
| Notes to the financial | statements | 9-17 |
| The principal | professional advisers to the Trust are: |
|||
|---|---|---|---|---|
| Solicitors | Adams 8 Remers | Auditors | Jacob Cavenagh 8 Skeet |
|
| Trinity House | 5 Robin Hood Lane | |||
| School Hill | Sutton | |||
| Lewes | Surrey | |||
| East Sussex BN7 2NN | SM1 2SW | |||
| Bankers | Barclays Bank Plc 63-67Terminus Road |
Investment Advisers |
Manorbridge Management |
Investment |
| Eastbourne | 25 Ropemaker Street |
|||
| East Sussex BN21 3NE | London EC2Y 9LY | |||
| Investment | Strutt 8 Parker | Principal | Agmerhurst | House |
| Property | 201 High Street | Office | Kitchenham | Road |
| Advisers | Lewes | Ashburnham | ||
| Sussex BN7 2NR | Battle TN33 | 9NB |
| Unrestricted | Funds | |||||
|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||
| Note | ||||||
| Income from: | 2 | |||||
| Donations | 1,350 | 3,727 | ||||
| Rentals | 204,460 | 192,486 | ||||
| Investments | 57,568 | 80,228 | ||||
| Other sources | 1 345 | 784 | ||||
| Total income | 264 723 | 277 | 225 | |||
| Expenditure on: |
||||||
| Raising funds | 124,549 | 171,318 | ||||
| Charitable activities: |
||||||
| Grants | 114,403 | 134,891 | ||||
| Support costs | 24 999 | 24 | 372 | |||
| Total expenditure | 263 951 | 330 | 581 | |||
| Net gains/(losses) | on investments | 425 761 | 345 | 839 | ||
| Net income/(expenditure) | 426,533 | ( 399,195) | ||||
| Total funds brought | forward | 7814108 | 8213 | 303 | ||
| Total funds carried | forward |
| 2021 | 2020 | |||
|---|---|---|---|---|
| Total | Total | |||
| 2 | INCOME FROM: | |||
| Donations | 1 350 | 3727 | ||
| Rentals | ||||
| Farm rents | 5,150 | 5,150 | ||
| Cottage rents | 199,060 | 187,086 | ||
| Garden rents |
250 | 250 | ||
| 204 46D | 192486 | |||
| Investments | ||||
| Dividends and interest |
||||
| on listed investments | 55,627 | 79,078 | ||
| Interest on cash deposits | 1 941 | 1 150 | ||
| 57 568 | 80 228 | |||
| Other sources | ||||
| Penhurst Churchyard |
1,241 | 784 | ||
| Book Income | 104 | |||
| 1 345 | 784 | |||
| Total income | 2 4723 | 277225 | ||
| 3 | EXPENDITURE ON: | 2021 | 2020 | |
| Total | Total | |||
| Raising funds | ||||
| Investment management |
15,480 | 13,975 | ||
| Property management |
34,574 | 57,457 | ||
| Property repairs and | maintenance | 69,205 | 95,924 | |
| Property insurance |
5290 | 3962 | ||
| 124549 | 171318 | |||
| Charitable activities |
||||
| Grants —Individuals | and institutions | 1144D3 | 134891 | |
| Support costs | ||||
| Secretarial assistance | 20,799 | 19,762 | ||
| Governance costs | ||||
| Audit fee | 4,200 | 4,200 | ||
| Trustees* expenses | 410 | |||
| 24 999 | 24 372 | |||
| Total expenditure | 263 951 | ~305 1 |
| 4 | INVESTMENTS | INVESTMENTS | Investment | Listed | |||
|---|---|---|---|---|---|---|---|
| properties | investments | Total | |||||
| Market value | at 6 April 2020 | 6,340,000 | 1,352,015 | 7,692,015 | |||
| Additions | 345,063 | 345,063 | |||||
| Disposals Unrealised surplus |
in the year | ( 376,917) 425 761 |
( | 376,917) 425 761 |
|||
| Market value | at 5 | April 2021 | 6 346 DDD | 1 745 922 | 8 | D85 922 | |
| Historical cost at | 5April 2021 | ~4I~1 | ~2'~2 | ~2@422 | |||
| MV | Cost | ||||||
| Listed investments | at market value comprised: | ||||||
| UK equities | 1,676,367 | 1,249,249 | |||||
| Fixed interest | investments | 36,778 | 39,245 | ||||
| Cash awaiting | investment | 32777 | 32 777 |
| TANGIBLE ASSETS | Furniture |
| and office | |
| equipment | |
| At cost | |
| At 6 April 2020 and 5 April 2021 | 2907 |
| Depreciation | |
| At 6 April 2020 and 5 April 2021 | 2907 |
| Net book value | |
| 5 April 2021 | |
| 5 April 2020 |
| 6 | DEBTORS | 2021 | 2020 | |||||
|---|---|---|---|---|---|---|---|---|
| Rents | 7,474 | 2,346 | ||||||
| Water recharges | 1 076 | 2 258 | ||||||
| ~44 | ||||||||
| 7 | CREDITORS | 2021 | 2020 | |||||
| Trade creditors | 16,329 | 4,027 | ||||||
| Deferred rental income |
7,361 | 6,889 | ||||||
| Other creditors | 1,250 | |||||||
| Accruals | 11,520 | 11,520 | ||||||
| Current Accounts: | ||||||||
| Ash Tree Trust | 1 253 | |||||||
| ~4~ | ~28 | |||||||
| 8 | UNRESTRICTED FUNDS | |||||||
| 2021 | Balance | Invest- | Balance | |||||
| at | ment | at | ||||||
| 6.4.20 | Income | Expenditure f |
gains | Transfers | 5.4.21 | |||
| General reserves Fixed asset reserves |
122,093 7692015 |
264,723 | (263,951) | 425 761 | 31,854 (31 854) |
154,719 8 085922 |
||
| ~14~1 | ~2~72 | (~2~1) | 4~2/51 | - | 824~t~41 | |||
| 2020 | Balance | Invest- | Balance | |||||
| at | ment | at | ||||||
| 6.4.19 | Income | Expenditure | losses | Transfers | 5.4.20 | |||
| General reserves Fixed asset reserves |
148,253 8065 050 |
277,225 - |
(330,581) — |
(345 839) | 27,196 (27 196) |
122,093 7692 015 |
||
| ~21:~3 | ~277 22 | (330+82) | (344JL39) | ~71410 |
| 9 | STAFF COSTS | STAFF COSTS | 2021 | 2020 | |
|---|---|---|---|---|---|
| Wages and | salaries | ~27~ | 1B„LGG | ||
| The number | ofemployees | during the year was: |
| 11 SCHEDULE OF GRANTS |
11 SCHEDULE OF GRANTS |
11 SCHEDULE OF GRANTS |
|||||
|---|---|---|---|---|---|---|---|
| Advantage Africa |
800 | ||||||
| Aitken Christian Services |
500 | ||||||
| All Nations Christian College |
350 | ||||||
| Altitude Mission |
500 | ||||||
| Arts Centre Group | 500 | ||||||
| Ashburnham Chapel |
1,000 | ||||||
| Ashburnham Christian Trust |
6,000 | ||||||
| Ashburnham Church PCC |
1,000 | ||||||
| Ashburnham and Penhurst |
Village | Hali | 1,890 | ||||
| Ashburnham School 8 Lunch |
350 | ||||||
| Beachy Head Chaplaincy | Team | 600 | |||||
| Care For The Family | 600 | ||||||
| Care Trust | 1,250 | ||||||
| Chichester Diocesan Association |
Family Support | Network (FSW) | 1,000 | ||||
| Chasah Trust | 1,300 | ||||||
| Chichester Diocesan Evangelical |
Fellowship | 400 | |||||
| Christian International Peacekeeping |
Service | 600 | |||||
| Christian Praise Children's |
Home | 600 | |||||
| Crosslinks | 1,250 | ||||||
| East Sussex Prayer Breakfast | 800 | ||||||
| Edge Christian Ministries |
300 | ||||||
| Evangelical Alliance |
1,846 | ||||||
| Evangelical Sisterhood of Mary |
700 | ||||||
| Freedom in Christ Ministries |
1,000 | ||||||
| Friends ofAshburnham 8 |
Penhurst | Churches | 800 | ||||
| Hastings Christian Trust |
500 | ||||||
| Hastings Street Pastors | 600 | ||||||
| Helping Point (India) |
600 | ||||||
| International Fellowship of |
Evangelical | Students | 600 | ||||
| International Justice Mission |
UK | (IJM) | 1,000 | ||||
| LAMA (Life And More Abundant) | Ministries | 1,250 | |||||
| Lambeth Partnership |
2,500 | ||||||
| Latin Link | 1,400 | ||||||
| Links International | 3,000 | ||||||
| London School ofTheology | 750 | ||||||
| Micah Trust | 2,250 | ||||||
| New Destiny Trust | 4,000 | ||||||
| Oak Hill College | 1,000 | ||||||
| Open Doors | 1 500 | ||||||
| Balance carried forward | 46,886 |
| 11 SCHEDULE OF GRANTS |
11 SCHEDULE OF GRANTS |
11 SCHEDULE OF GRANTS |
11 SCHEDULE OF GRANTS |
(continued) | (continued) | |
|---|---|---|---|---|---|---|
| Balance brought forward |
46,886 | |||||
| OMF International | 2,200 | |||||
| Oxford Inter-Collegiate | Christian | Union | 500 | |||
| Oxford Kilburn Youth Trust | 550 | |||||
| Oxford Pastorate | 500 | |||||
| Penhurst Church PCC |
600 | |||||
| Penhurst Retreat Centre |
2,500 | |||||
| Prison Fellowship | 1,500 | |||||
| Release International | 600 | |||||
| Royal Agricultural Benevolent |
Institution | (RABI) | 500 | |||
| Royal British Legion | 100 | |||||
| RZIM Zacharias Trust |
1,600 | |||||
| Scripture Union |
300 | |||||
| Sharing Christ Internationally |
1,500 | |||||
| Spinnaker Trust |
750 | |||||
| St Barnabas Hospice (Chestnut | Tree House) | 500 | ||||
| Stewards Trust | 2,000 | |||||
| St Lukes Healthcare for |
the Clergy | 1,000 | ||||
| StStephen's Society |
4,600 | |||||
| Sussex Historic Churches | Trust | 600 | ||||
| Swiss Church in London |
550 | |||||
| Tear Fund | 850 | |||||
| The Lee Abbey Fellowship | 250 | |||||
| The Speakers Trust | 500 | |||||
| The Vincent Society (CMJ) | 600 | |||||
| Titus Trust | 1,000 | |||||
| Trinity Fellowship | 1,200 | |||||
| Universities 8 Colleges |
Christian | Fellowship | 1,100 | |||
| Wonersh 8 Blackheath |
PCC | 1,500 | ||||
| Wycliffe Bible Translators | 4,500 | |||||
| Youth with a Mission | 720 | |||||
| 82,056 |
| 11 | SCHEDULE OF GRANTS (continued) | ||
|---|---|---|---|
| Charitable grants to organisaiions (as above) |
82,056 | ||
| Charitable grants to individuals (made to |
11 individuals) | 11325 | |
| Miscellaneous: | |||
| Books and publications | 253 | ||
| Holidays and assistance for missionaries, |
clergy | ||
| and other Christian workers |
20 769 | ||
| Total ofunrestricted grants |