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|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|
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|||||||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|
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|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|
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|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|
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|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|
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||||2020f|2019|
|---|---|---|---|---|
|Audit fee|||5,316|5,316|
|Trustee's|indemnity|insurance|478|489|
||||5,794|5,805|
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|Net income|/expenditure|||
|---|---|---|---|
|||2020f|2019f|
|Net income/expenditure|is stated after charging:|||
|Audit fee||5,316|5,316|
|Depreciation||128,290|130,184|
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||||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|
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|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|
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|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|
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|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|
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||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|
##
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|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|
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||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|