This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

PDF
Markdown

2020-12-31-accounts

for the year en	ded 31 December 2020
Contents		Page
Report ofthe Trustee
Independent auditor's	report to the Trustee ofThe Cote Charity
Statement offinancial	activities	13
Balance sheet
Cash Flow statement		15
Principal accounting	policies	16
Notes to the financial	statements	18

						permanent
				Unrestricted	Restricted	endowment	Total	Total
			Note	funds f	funds f	fund 6	2020 6	2019 f
Income from:
Donations					3,513		3,513	12,963
Covld-19 Grant	Income				71,172		71,172
Charitable activities				2,029,035			2,029,035	2,015,690
Investments				15,309			15,309	18,619
Total income				2,044,344	74,685		2,119,029	2,047,272
Expenditure on:
Charitable activities			2	(1,653,829)	(790)	(172,378)	(1,826,997)	(1,780,228)
Covid-19 Grant	Expenses				(71,172)		(71,172)
Other			3	(5,794)			(5,794)	(5,805)
Total expenditure				(1,659,623)	(71,962)	(172,378)	(1,903,963)	(1,786,033)
(Losses)/gains	on
investment assets			8	(33,784)			(33,784)	50,940
Net income			4	350,937	2,723	(172,378)	181,282	312,179
Transfers between		funds	12	(35,636)		35,636
Net movement	In funds			315,301	2,723	(136,742)	181,282	312,179
Reconciliation	offunds:
Total funds brought		forward		1,828,719	218,579	3,348,415	5,395,713	5,083,534
Total funds carried
forward			12	2 144)020	221 302	3211 673	5576995	5395713

s at 31 Decem	ber	2020
				2020	2019
			Note	6	E
Fixed assets
Tangible assets				4,223,389	4,329,299
Investments				337,220	371,004
				4,560,609	4,700,303
Current assets
Debtors				26,575	34,882
Cash at bank				1,265,751	967,482
				1,292,326	1,002,364
Creditors: amounts	falling	due
within one year			10	(275,940)	(239,363)
Net current assets				1,016,386	763,001
Total assets less current		liabilities		5,576,995	5,463,304
Creditors: amounts	falling	due
after more than one year					(67,591)
Net assets				5,576,995	5,395,713
Funds
Unrestricted			12	2,144,020	1,828,719
Restricted			12	221,302	218,579
Permanent endowment			12	3,211,673	3,348,415
			13	5,576,995	5,395,713

Cash flow stateme	nt for the	y	ear ended	31 Decemb	er 2020
					2020	2019
				Notes
Cash flows from operating	activities:
Net income for the reporting year					181,282	312,179
Ad)ustments for:
Depreciation charges					128,290	130,184
(Gains)/losses on investments					33,784	(50,940)
Dividends and interest from	investments				(15,309)	(18,619)
Increase in debtors					8,308	(6,834)
(Decrease)/increase in creditors					82,829	(31,698)
Net cash provided by operating activities					419,184	334,272
Cash flow from financing	activities:
Repayment ofBank Loan					(113,844)	(144,775)
Nst cash used in financing	activities				(113,844)	(144,775)
Cash flows from investing	activities:
Dividends and interest from	investments				15,309	18,619
Purchase ofproperty, plant	and equipment				(22,380)	(28,339)
Net cash used In Investing	activities				(7,071)	(9,720)
Change ln cash and cash equivalents		in the year			298,269	179,777
Cash and cash equivalents at the beginning			of the year		967,482	787,705
Cash and cash equivalents at the end ofthe year					1,265,751	967,482

Inve	stment income
		2020f	2019f
Distributions	from MVCIP	11,768	13,837
Bank interest		3,541	4,782
		15,309	18,619

		Direct	Support	Total	Total
		costsf	costsf	2020f	2019f
Staff costs		1,129,408	57,558	1,186,966	1,094,494
Running costs		249,755		249,755	324,006
Maintenance	and depreciation	285,795		285,795	224,258
Management	and administration	15,919	88,562	104,481	137,470
		1,680,877	146,120	1,826,997	1,780,228

			2020f	2019
Audit fee			5,316	5,316
Trustee's	indemnity	insurance	478	489
			5,794	5,805

Net income	/expenditure
		2020f	2019f
Net income/expenditure	is stated after charging:
Audit fee		5,316	5,316
Depreciation		128,290	130,184

			2020	2019
Residential	care		48	51
Management	and	administration
			52	54

he aggregate payroll costs ofthese persons were as	follows:
	2020f	2019 F
Wages and salaries	1,082,858	1,003,737
Social security costs	82,797	73,312
Pension costs	21,311	17,446
	1,186,966	1,094,495

Tangible fixed	assets
			Fixtures,
	Assets in the	Freehold	fittings
	course of	land and	and office	Motor
	construction	buildings	equipment	vehicles	Total
			6	F
Cost or valuation
At 1 January 2020	148,379	5,079,539	243,246	29,290	5,500,454
Additions	10,050	3,825	8,505		22,380
Transfers
Disposals
At 31 December 2020	158,429	5,083,364	251,751	29,290	5,522,834
Depreciation
At 1 January 2020		932,610	209,255	29,290	1,171,155
Charge for year		104,071	24,219		128,290
Disposals
At 31 December 2020		1,036,681	233,474	29,290	1,299,445
Net book value
At 31 December 2020	158,429	4,046,683	18,277		4,223,389
At 31 December 2019	148,379	4,146,929	33,991		4,329,299

Fixed a	sset investment	s
						Totalf
Cost
At 1 January and	31 December 2020					165,890
Revaluations
Unrealised gains at 1 January 2020						205,114
Net losses arising	on revaluation					(33,784)
Unrealised gains	at 31 December 2020					171,330
Net book value
At 31 December	2020					337,220
At 31 December 2019						371,004
ll investments are	held in the Merchant	Venturers'	Charities	Investment	Pool, which was structured	as
ollows at 31 December 2020:
						'/o
Investment assets	in the UK					41.9
Investment assets	outside the UK					42.8
Alternatives & Multi-Asset						14.2
Cash
						100.0

	Debtors
		2020	2019
		6	r
Rents	and fees	1,592	3,061
Other	debtors and prepayments	24,983	31,821
		26,575	34,882

0 Creditors: amounts falling due within	one year
	2020	2019
Trade creditors	66,148	39,359
Other taxes and social security costs	22,098	99
Other creditors	54,068	49,719
Accruals	60,807	42,621
Covid-19 Grant	11,505
Bank loan	61,314	107,565
	275,940	239,363

	2020	2019
Age analysis of bank loan	6	E
Due within one year	61,314	107,565
Due after more than one year:
Between one and two years		50,524
Between two and five years		17,067
More than five years
Total due after more than one year		67,591
Total	61,314	175,156

2 Funds
	Balance at				Transfers	Balance at
	1 January 2020f	Incoming resources 8	Resources expended 8	Investment Losses E	between funds	31 December 2020 8
Unrestricted
General fund	1,828,719	2,044,344	(1,659,623)	(33,784)	(35,636)	2,144,020
Restricted
Staff fund	(347)	649	(250)			52
Katherine House
amenity fund	12,714	2,151	(498)			14,367
Katherine House
building fund	155,674					155,674
Griffiths House
amenity fund	538		(42)			1,139
Residents
Personal
Allowances		70				70
Covid-19 Grant		71,172	(71,172)
Griffiths House
building fund	50,000					50,000
Total Restricted	218,579	74,685	(71,962)			221,302
Permanent
endowment	3,348,415		(172,378)		35,636	3,211,673
Total	5,395,713	2,119,029	(1,903,963)	(33,784)		5,576,995

	At 1 January		At 31 December
	2020	Cash flowf	2020 6
Cash and cash equivalents
Cash	967482	298 269	1265 751
	967,482	298,269	1,265,751
Borrowings
Debt due within one year	(107,565)	46,251	(61,314)
Debt due after one year	67,591	67,591
	175 156	113844	61 314
	792,326	184,425	1,204,437