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2020-10-31-accounts

Charity Registration No. 266699

THE FAIRFIELD TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

THE FAIRFIELD TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Brigadier R C J Dick CBE
Mr J N Bray
Lieutenant Colonel P R Dick-Peter
Mrs U C Price-Moss
Mr M Tester
Mr R Balfry
Charity number 266699
Principal address Hyde Hill
146 Above Town
Dartmouth
Devon
TQ6 9RH
Business address Fairfield
Huxtable
Cockington
Torquay
Devon
TQ2 6RN
Independent examiner Darnells Chartered Accountants
Quay House
Quay Road
Newton Abbot
Devon
TQ12 2BU
Solicitors Thomas Eggar
Belmont House
Station Road
Crawley
West Sussex
RH10 1JA

THE FAIRFIELD TRUST

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the accounts 7 - 15

THE FAIRFIELD TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 OCTOBER 2020

The Trustees present their report and accounts for the year ended 31 October 2020.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Trust's governing document (see below), the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016).

Objectives and activities

The objects of the Trust are to provide good accommodation for missionaries, clergy and other Christian church workers, their spouses, widows or widowers, either on retirement or during leave, who have given up opportunities of lucrative careers for the purpose of serving humanity whether in the United Kingdom or overseas and have been unable to provide a home of their own for their retirement.

The objectives of the Trustees for the year are shaped by these strategic aims, with a view to improving and expanding the number of units of accommodation available, and obtaining income for the benefit of the Trust and its residents by maintaining and improving the value of its investments.

The Trust does not actively fundraise, but seeks to continue to further its objectives through the careful stewardship of its existing resources.

Details of the activities of the Trust during the year were as follows:

Achievements and performance

The main challenge of the year has been finding eligible tenants for vacant flats. As from September 2019 the two mews flats were made available for renting, leaving just one flat for guests of residents. Traditionally the flats were marketed through Missionary Societies and "word of mouth" recommendations among retired missionaries, but this had no response and a year later the flats are still unlet. In addition, as a result of another tenant vacating, there were three vacant flats for most of the year.

Therefore our marketing strategy was expanded to include "committed Christians" who might have worked for their church, a Christian charity or been a missionary, clergy or minister, their wives or widows; who have given up opportunities of lucrative careers for the purpose of serving humanity, whether in the UK or overseas and now find themselves unable to provide a home of their own.

As a result of extensive advertising new tenants who meet the criteria have now been found and by the end of this calendar year all but one of the flats will be let.

The Trustees were pleased that the innovative discretionary grant introduced by the Charity last year to bridge the gap between Housing Benefit received by eligible residents and the costs of the service charge and rent has enabled seven residents to stay and benefit from the Fairfield facilities.

During the year an additional £90,000 was placed into M & G Charibonds, thereby, significantly increasing the charity's reserves.

All in all a satisfactory year for the Fairfield Trust.

THE FAIRFIELD TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020

How the activities of the Trust deliver public benefit:

The main activity of the Trust and who it tries to help are described below. In planning its activities for the year, the Trustees kept in mind the Charity Commission's guidance on public benefit to aid them in determining their objectives. The focus of the activities of the Trust therefore continued to be the provision of independent living quarters for missionaries, clergy and other and other Christian church workers, their spouses, widows or widowers, either on retirement or during leave who have been unable to provide a home of their own.

Who used and benefited from the services of the Trust:

The objects of the Trust and its funding limit the accommodation available to 16 flats (of which one is currently a guest flat). The Trustees take account of the financial means of potential beneficiaries, when determining the rent or other contribution towards the costs of providing the accommodation. The Trustees estimate the number of people helped by the Trust during the year at 17 (2019: 17).

Financial review

During the year, the Total income of the Trust decreased from £100,894 for 2019 to 95,257, primarily as a result of a decrease in rents received from the guest flats, due to the COVID 19 restrictions.

Total resources expended by the Trust comprise of expenditure of £66,618 (2019: £100,408 excluding the reversal of the impairment of the freehold property of £388,380). The decrease in 2020 is due to exceptional expenditure of £33,815 in 2019 on improving the heating systems for both properties.

During the year the Trustees transferred £88,000 from the funds held by Belmont Property Management in a client current account and £2,000 from the Trust's Nat West account to fund the investment made in the year of £90,000 with M & G Investments in order to obtain a better return on capital than that offered by the high street banks.

The value of the Trust's existing investments have fallen by £23,508 from £175,552 at 31 October 2019 to £242,044, a fall of 6.3% which compares favourably with the fall in the stock market generally of 21.6% over the year to 31 October 2020 (based on the FTSE All Share Index). With the increased investments made during the current year the Trust's investments have been improved overall.

The Net movement in funds for the year was a surplus of £5,131 (2019: surplus of £392,702). The Trustees

consider the overall financial position of the Trust to be good.

Reserves policy

It is the policy of the Trust that free unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to approximately three year’s expenditure on charitable activities. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Trust’s current activities while consideration is given to ways in which additional funds may be raised.

The investments held by the charity in M & G Charibonds of £242,044 as at 31 October 2020 represent reserve funds that have not been designated for a specific use.

Risk management :

The Trustees have assessed the major strategic, business and operational risks to which the Trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Plans for the future

The Trust is a lasting testimony to the generosity and charitable concerns of past donors, including the late Revd. A W Dick and others. The Trust plans to continue the activities outlined above in the forthcoming years, subject to satisfactory levels of income generated from rent and investments.

THE FAIRFIELD TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2020

Structure, governance and management

The Fairfield Trust is an unincorporated Trust, established by a charitable trust deed dated 12 November 1973 (as subsequently amended on 18 August 2003, 22 April 2004 and 25 September 2017), and is a registered charity with the number 266699 (England and Wales).

The Trustees who served during the year and up to the date of signature of the financial statements were: Brigadier R C J Dick CBE Mr J N Bray Lieutenant Colonel P R Dick-Peter Mrs U C Price-Moss Mr M Tester Mr R Balfry

Recruitment and appointment of Trustees:

The Trust has 6 Trustees. The Trustees meet at least once a year to administer the Trust.

The Board of Trustees regularly discusses the recruitment of new Trustees for their experience, empathy and knowledge of the Trust, and to keep the skills and composition of the Trustee body as a whole and succession planning under review. New Trustees may be sought by open advertisement or through dialogues with other institutions with similar objects.

All the Trustees give their time voluntarily and receive no benefits from the Trust. Any expenses reclaimed by the Trustees from the Trust are set out in note 7 to the accounts.

Organisational structure:

The Trust is managed by the Board of Trustees, who delegate the day to day management of the Trust's properties to Belmont Management Services (South West) Limited trading as "Belmont Property Management".

The Trustees' report was approved by the Board of Trustees.

Brigadier R C J Dick CBE

Trustee

Dated: 23 June 2021

THE FAIRFIELD TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE FAIRFIELD TRUST

I report to the Trustees on my examination of the financial statements of The Fairfield Trust (the Trust) for the year ended 31 October 2020.

Responsibilities and basis of report

As the Trustees of the Trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the Trust’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Mr P A Beard ACA, FCCA Darnells Chartered Accountants

Dated: 23 July 2021

Quay House Quay Road Newton Abbot Devon TQ12 2BU

THE FAIRFIELD TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2020

Unrestricted Unrestricted
funds funds
2020 2019
Notes £ £
Income from:
Charitable activities 2 87,031 95,019
Investments 3 8,226 5,875
Total income 95,257 100,894
Expenditure on:
Raising funds 4 (545) -
Charitable activities 5 (66,073) 287,972
Total resources expended (66,618) 287,972
Net gains/(losses) on investments 9 (23,508) 3,836
Net movement in funds 5,131 392,702
Fund balances at 1 November 2019 2,737,277 2,344,575
Fund balances at 31 October 2020 2,742,408 2,737,277

THE FAIRFIELD TRUST

BALANCE SHEET

AS AT 31 OCTOBER 2020

Notes
Fixed assets
Tangible assets
10
Investments
11
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
14
Net current assets
Total assets less current liabilities
Income funds
General unrestricted funds
Revaluation reserve
15		 2020
£
£
2,493,380
242,044
2,735,424
15,089
6,540
21,629
(14,645)
6,984
2,742,408
2,707,166
35,242
2,742,408
2,742,408		 2019
£
£
2,493,380
175,552
2,668,932
78,830
4,720
83,550
(15,205)
68,345
2,737,277
2,678,527
58,750
2,737,277
2,737,277		 2019
£
£
2,493,380
175,552
2,668,932
78,830
4,720
83,550
(15,205)
68,345
2,737,277
2,678,527
58,750
2,737,277
2,737,277
2,668,932
68,345
2,737,277
2,737,277
2,737,277

The financial statements were approved by the Trustees and authorised for issue on 23 June 2021 and are signed on its behalf by:

Brigadier R C J Dick CBE Mr R Balfry Trustee Trustee

THE FAIRFIELD TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

1 Accounting policies

Charity information

The Fairfield Trust is an unincorporated trust, established by a charitable Trust Deed dated 12 November 1973 (as subsequently amended on 18 August 2003, 22 April 2004 and 25 September 2017), and is a registered charity with the number 266699 (England and Wales). The principal address of the Trust is Hyde Hill, 146 Above Town, Dartmouth, Devon TQ6 9RH.

1.1 Accounting convention

The accounts have been prepared in accordance with the Trust's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The Trust is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The accounts are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

1.4 Incoming resources

Income is recognised when the Trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Legacies are recognised on receipt or otherwise if the Trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

THE FAIRFIELD TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020

1 Accounting policies

(Continued)

1.5 Resources expended

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Trust to that expenditure, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis.

All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. For more information on this attribution refer to note 5 below.

Support costs are those that assist the work of the Trust but do not represent charitable activities and include office costs, governance costs and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the Trust. Where support costs cannot be directly attributed to particular headings they have been allocated to expenditure on charitable activities on a basis consistent with the use of the resources.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Nil

Freehold land is not depreciated. No depreciation is provided on freehold buildings as in the opinion of the Trustees the useful economic life and residual value are such that any depreciation charge would be insignificant.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value determined with reference to the quoted market price at each reporting date. Transaction costs are expensed as incurred.

Changes in fair value are recognised in net income/(expenditure) for the year.

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

Financial instruments are recognised in the Trust's balance sheet when the Trust becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

THE FAIRFIELD TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Trust’s contractual obligations expire or are discharged or cancelled.

2 Charitable activities

Rents and service charges receivable from residents
Discretionary grants - see below
Guest suite income
Parking permit receipts
Other income		 2020
£
99,667
(15,352)
84,315
1,376
1,040
300
87,031		 2019
£
101,103
(12,566)
88,537
5,442
1,040
-
95,019

Discretionary grants to residents

In order to bridge the gap between the Housing Benefit received by some residents and the costs of the rents and service charges, the Trust made discretionary grants to residents in 2020.

THE FAIRFIELD TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020

3 Investments

2020
£
Income from listed investments
8,204
Interest receivable
22
8,226
Raising funds
Unrestricted
funds
2020
£
Fundraising and publicity
Advertising
545
545		 2019
£
5,786
89
5,875
Total
2019
£
-
-

4 Raising funds

THE FAIRFIELD TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020

5
Charitable activities
Provision of homes for missionaries, clergy and other Christian
workers
Depreciation and impairment
Rates
Light and heat
Insurance
Cleaning
Gardening
Repairs and maintenance
Sundry expenses
Subcontractor
Church times
Service charge voids
Printing, postage and stationery
Support costs (see note 6)
Governance costs (see note 6)
Analysis by fund
Unrestricted funds
For the year ended 31 October 2019
Unrestricted funds		 2020
2019
£
£
-
(388,380)
3,279
3,330
6,645
9,441
4,650
4,813
4,197
7,603
4,039
4,460
21,695
47,989
834
2,000
10,268
7,227
-
901
3,816
3,177
173
-
59,596
(297,439)
4,552
4,745
1,925
4,722
66,073
(287,972)
66,073
66,073
(287,972)
(287,972)

Exceptional items:

The credit for Depreciation and impairment of £388,380 in 2019 above represents the reversal of the impairment provision at 1 November 2018.

Included in Repairs and maintenance for 2019 above is expenditure of £33,815 on the water heating systems at both properties.

THE FAIRFIELD TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020

6 Support costs

Support costs
Support
costs
Governance
costs
£
£
Property management
fees
3,376
-
Telephone
496
-
Website costs
680
-
Legal and professional
-
125
Independent Examiner's
fees
-
1,800
4,552
1,925
Analysed between
Charitable activities
4,552
1,925		 2020
Support
costs
Governance
costs
£
£
£
3,376
3,222
-
496
1,104
-
680
419
-
125
-
2,922
1,800
-
1,800
6,477
4,745
4,722
6,477
4,745
4,722		 2019
£
3,222
1,104
419
2,922
1,800
9,467
9,467

7 Trustees

None of the Trustees (or any persons connected with them) received any remuneration during the year.

During the year trustees incurred travel expenses of £0 (2019 - £30) which were reimbursed by the Trust.

8 Employees

The average monthly number of employees during the year was:

2020
2019
Number
Number
Total
-
-
There were no employees (2019 - none) who received total remuneration of more than £60,000.		 2020
2019
Number
Number
Total
-
-
There were no employees (2019 - none) who received total remuneration of more than £60,000.
There were no employees (2019 - none) who received total remuneration of more than £60,000.

9 Net gains/(losses) on investments

2020 2019
£ £
Revaluation of investments (23,508) 3,836

THE FAIRFIELD TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020

10
Tangible fixed assets
Land and
Cost
At 1 November 2019
At 31 October 2020
At 31 October 2020
Carrying amount
At 31 October 2020
At 31 October 2019		 buildings
£
2,493,380
2,493,380
-
2,493,380
2,493,380

At 31 October 2020 the Trustees undertook a valuation of the freehold property, based on current market values for similar properties. In the opinion of the Trustees the market value of the freehold property is at least equal to its cost of £2,493,380.

THE FAIRFIELD TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2020

11
Fixed asset investments
Cost or valuation
At 31 October 2020
Additions
Valuation changes
At 31 October 2020
Carrying amount
At 31 October 2020
At 31 October 2019
12
Financial instruments
Carrying amount of financial assets
Debt instruments measured at amortised cost
Investments measured at fair value
Carrying amount of financial liabilities
Debt instruments measured at amortised cost
13
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 Listed
investments
£
175,552
90,000
(23,508)
242,044
242,044
175,552
2020
2019
£
£
15,089
78,830
242,044
175,552
14,645
15,205
2020
2019
£
£
1,901
4,199
10,925
72,984
2,263
1,647
15,089
78,830

Other debtors comprise bank balances held in trust on behalf of the residents by Belmont Management Services (South West) Limited trading as "Belmont Property Management", who manage the properties for the Trust.

THE FAIRFIELD TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2020

14
Creditors: amounts falling due within one year
Trade creditors
Accruals and deferred income
15
Revaluation reserve
At 1 November 2019
Unrealised losses on investments
At 31 October 2020		 2020
2019
£
£
6,208
7,960
8,437
7,245
14,645
15,205
£
58,750
(23,508)
35,242

The revaluation reserve above represents the cumulative unrealised gains on the listed investments.

16 Related party transactions

There were no disclosable related party transactions during the year (2019 - none).

THE FAIRFIELD TRUST MANAGEMENT INFORMATION FOR THE YEAR ENDED 31 OCTOBER 2020 16-

THE FAIRFIELD TRUST

DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2020

Income from:
Charitable activities
Rents and service charges receivable from
residents
Guest suite income
Parking fund
Discretionary grants to residents
Other charitable income
Investment income
Dividends from listed investments
Bank interest received from Belmont
Total income
Resources expended:
Fundraising expenses
UF Advertising
Charitable activities
Provision of homes for retired clergy and
other Christian workers
Reversal of impairment losses
Rates
Light and heat
Insurance
Cleaning
Gardening
Repairs and maintenance
Sundry expenses
Subcontractor
Church times
Service charge voids
Printing, Postage and Stationery
Support costs - see below
Governance costs - see below
Net incoming resources		 £
545
-
3,279
6,645
4,650
4,197
4,039
21,695
834
10,268
-
3,816
173
4,552
1,925		 2020
£
£
99,667
1,376
1,040
(15,352)
300
87,031
8,204
22
95,257
-
(545)
(388,380)
3,330
9,441
4,813
7,603
4,460
47,989
2,000
7,227
901
3,177
-
4,745
4,722
(66,073)
28,639		 2019
£
101,103
5,442
1,040
(12,566)
-
95,019
5,786
89
100,894
-
287,972
388,866

THE FAIRFIELD TRUST

DETAILED INCOME AND EXPENDITURE ACCOUNT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020

Net gains on investments
Revaluation of investments
Net movement in funds		 (23,508) (23,508)
5,131		 3,836 3,836
392,702

THE FAIRFIELD TRUST

SUPPORT AND GOVERNANCE COSTS FOR THE YEAR ENDED 31 OCTOBER 2020

Support costs
Property management fees
Telephone
Website costs
Governance costs
Legal and professional
Independent Examiner's fees		 £
125
1,800		 2020
£
3,376
496
680
4,552
1,925
6,477		 £
2,922
1,800		 2019
£
3,222
1,104
419
4,745
4,722
9,467