Charity Registration No. 266699
THE FAIRFIELD TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021
THE FAIRFIELD TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Brigadier R C J Dick CBE Mr J N Bray Mrs U C Price-Moss Mr M Tester Mr R Balfry Patron The Right Reverend Nicholas McKinnell, Bishop of Plymouth 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 2021
The Trustees present their report and accounts for the year ended 31 October 2021.
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
During the year the strategy for marketing of the vacant flats was updated; in particular, adjustments were made to the website to give it more visibility to Christians seeking accommodation in Devon. As a result, all 15 flats are now occupied with a waiting list for other potential tenants. Fairfield residents play an active role in organising activities and social events appropriate for a dedicated Christian community.
During the year the Bishop of Plymouth, Right Reverend Nicholas McKinnell, accepted our invitation to be the patron of the charity. This is an honorary appointment without any legal responsibilities, but his support and those of his successors, as senior church figures, will benefit the charity and help to ensure the longevity of the Founder's legacy.
The charity is well endowed with sufficient reserves to keep the properties in good order, and a clear line of succession on the Board of Trustees is in place to provide continuity for the charity. The Fairfield Trust is in a stable position for the foreseeable future.
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 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 15 (2020: 17).
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THE FAIRFIELD TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2021
Financial review
During the year, the Total income of the Trust increased from £95,257 for 2020 to £109,417, as a result of an increase in Rent and service income of £13,189 in 2021.
Total resources expended by the Trust amounted to £69,525 (2020: £66,618). The increase in 2021 is due
mainly to an increase in repairs and maintenance of £6,265.
The value of the Trust's existing investments have risen by £17,360 from £242,044 at 31 October 2020 to £259,404, an increase of 7.1% which compares with a rise in the stock market generally of 31.0% over the year to 31 October 2021 (based on the FTSE All Share Index).
The Net movement in funds for the year was a surplus of £57,252 (2020: surplus of £5,131). 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, which at 31 October 2021 amounted to approximately £210,000. 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.
Actual free unrestricted funds not designated for a specific use at 31 October 2021 amounted to £206,316 (2020: £173,629). This includes the investments held by the charity in M & G Charibonds of £162,519 at 31 October 2021 (2020: £166,645), representing reserve funds not 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.
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 (Resigned 25 March 2021) Mrs U C Price-Moss Mr M Tester Mr R Balfry
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THE FAIRFIELD TRUST
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2021
Recruitment and appointment of Trustees:
The Trust has 5 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 8 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: 12 July 2022
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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 2021.
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:
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1 accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
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: 3 August 2022
Quay House Quay Road Newton Abbot Devon TQ12 2BU
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THE FAIRFIELD TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2021
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2021 | 2020 | ||
| Notes | £ | £ | |
| Income and endowments from: | |||
| Charitable activities | 2 | 99,942 | 87,031 |
| Investments | 3 | 7,965 | 8,226 |
| Other income | 4 | 1,510 | - |
| Total income | 109,417 | 95,257 | |
| Expenditure on: | |||
| Raising funds | 5 | - | (545) |
| Charitable activities | 6 | (69,670) | (66,073) |
| Other | 10 | 145 | - |
| Total resources expended | (69,525) | (66,618) | |
| Net gains/(losses) on investments | 11 | 17,360 | (23,508) |
| Net movement in funds | 57,252 | 5,131 | |
| Fund balances at 1 November 2020 | 2,742,408 | 2,737,277 | |
| Fund balances at 31 October 2021 | 2,799,660 | 2,742,408 |
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THE FAIRFIELD TRUST
BALANCE SHEET
AS AT 31 OCTOBER 2021
| Notes Fixed assets Tangible assets 12 Investments 13 Current assets Debtors 15 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets Total assets less current liabilities Income funds General unrestricted funds Revaluation reserve 17 |
2021 £ £ 2,496,459 259,404 2,755,863 18,167 40,372 58,539 (14,742) 43,797 2,799,660 2,747,058 52,602 2,799,660 2,799,660 |
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 |
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 |
|---|---|---|---|
| 2,735,424 6,984 |
|||
| 2,742,408 | |||
| 2,742,408 | |||
| 2,742,408 |
The financial statements were approved by the Trustees and authorised for issue on 12 July 2022 and are signed on its behalf by:
Brigadier R C J Dick CBE Mr R Balfry Trustee Trustee
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THE FAIRFIELD TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021
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.
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THE FAIRFIELD TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2021
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 6 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 Fixtures, fittings & equipment
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.
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THE FAIRFIELD TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2021
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 |
2021 £ 111,875 (14,371) 97,504 1,390 1,048 - 99,942 |
2020 £ 99,667 (15,352) 84,315 1,376 1,040 300 87,031 |
|---|---|---|
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 both 2021 and 2020.
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THE FAIRFIELD TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2021
3 Investments
| Income from listed investments Interest receivable |
2021 £ 7,963 2 7,965 |
2020 £ 8,204 22 |
|---|---|---|
| 8,226 |
4 Other income
| Unrestricted funds 2021 £ Compensation received from Nat West Bank 1,500 Miscellanoeus receipts 10 1,510 |
Total 2020 £ - - |
|---|---|
| - |
5 Raising funds
| Fundraising and publicity Advertising |
Total Unrestricted funds 2021 2020 £ £ - 545 - 545 |
Total Unrestricted funds 2021 2020 £ £ - 545 - 545 |
|---|---|---|
| 545 |
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THE FAIRFIELD TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2021
| 6 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 Service charge voids Printing, postage and stationery Support costs (see note 7) Governance costs (see note 7) Analysis by fund Unrestricted funds For the year ended 31 October 2020 Unrestricted funds |
2021 £ 210 4,754 8,082 1,441 4,253 5,718 27,385 922 9,494 - 8 62,267 3,641 3,762 69,670 69,670 69,670 |
2020 £ - 3,279 6,645 4,650 4,197 4,039 21,695 834 10,268 3,816 173 |
|---|---|---|
| 59,596 4,552 1,925 |
||
| 66,073 | ||
| 66,073 | ||
| 66,073 |
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THE FAIRFIELD TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2021
| 7 Support costs Support costs Governance costs £ £ Property management fees 3,312 - Telephone 269 - Website costs 60 - Legal and professional - 1,652 Independent Examiner's fees - 1,800 Trustees' expenses - 310 3,641 3,762 Analysed between Charitable activities 3,641 3,762 |
2021 Support costs Governance costs £ £ £ 3,312 3,376 - 269 496 - 60 680 - 1,652 - 125 1,800 - 1,800 310 - - 7,403 4,552 1,925 7,403 4,552 1,925 |
2020 £ 3,376 496 680 125 1,800 - |
|---|---|---|
| 6,477 | ||
| 6,477 |
8 Trustees
None of the Trustees (or any persons connected with them) received any remuneration during the year.
During the year trustees' expenses of £310 were reimbursed by the Trust (2020: £Nil).
9 Employees
The average monthly number of employees during the year was:
| The average monthly number of employees during the year was: | ||
|---|---|---|
| 2021 | 2020 | |
| Number | Number | |
| Total | - | - |
| There were no employees whose annual remuneration was more than £60,000. |
10 Other
| Unrestricted | Total | |
|---|---|---|
| funds | ||
| £ | ||
| 2021 | 2020 | |
| Net gain on disposal of tangible fixed assets | 145 | - |
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THE FAIRFIELD TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2021
11 Net gains/(losses) on investments
| Revaluation of investments 12 Tangible fixed assets Cost At 1 November 2020 Additions At 31 October 2021 Depreciation and impairment Depreciation charged in the year At 31 October 2021 Carrying amount At 31 October 2021 At 31 October 2020 |
Land and buildings £ 2,493,380 - 2,493,380 - - 2,493,380 2,493,380 |
2021 £ 17,360 Fixtures, fittings & equipment £ - 3,289 3,289 210 210 3,079 - |
2020 £ (23,508) Total £ 2,493,380 3,289 2,496,669 210 210 2,496,459 2,493,380 |
|
|---|---|---|---|---|
At 31 October 2021 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.
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THE FAIRFIELD TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2021
| 13 Fixed asset investments Cost or valuation At 31 October 2021 Valuation changes At 31 October 2021 Carrying amount At 31 October 2021 At 31 October 2020 14 Financial instruments Carrying amount of financial assets Trade and other debtors measured at undiscounted amount receivable Investments measured at fair value Carrying amount of financial liabilities Trade and other creditors measured at undiscounted amount payable 15 Debtors Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income |
Listed investments £ 242,044 (7,070) 234,974 234,974 242,044 2021 2020 £ £ 18,167 15,089 259,404 242,044 14,742 14,645 2021 2020 £ £ 1,445 1,901 14,506 10,925 2,216 2,263 18,167 15,089 |
|---|---|
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.
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THE FAIRFIELD TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2021
| 16 Creditors: amounts falling due within one year Trade creditors Accruals and deferred income 17 Revaluation reserve At 1 November 2020 Unrealised losses on investments At 31 October 2021 |
2021 £ 7,462 7,280 14,742 |
2020 £ 6,208 8,437 |
|---|---|---|
| 14,645 | ||
| £ 35,242 17,360 |
||
| 52,602 |
The revaluation reserve above represents the cumulative unrealised gains on the listed investments.
18 Related party transactions
There were no disclosable related party transactions during the year (2020: none).
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THE FAIRFIELD TRUST MANAGEMENT INFORMATION FOR THE YEAR ENDED 31 OCTOBER 2021 16-
THE FAIRFIELD TRUST
DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2021
| 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 Other income UF Other income Total income Resources expended: Fundraising expenses UF Advertising Charitable activities Provision of homes for retired clergy and other Christian workers Depreciation Rates Light and heat Insurance Cleaning Gardening Repairs and maintenance Sundry expenses Subcontractor Service charge voids Printing, Postage and Stationery Support costs - see below Governance costs - see below Gain on disposal of tangible fixed assets Net incoming resources |
£ - 210 4,754 8,082 1,441 4,253 5,718 27,385 922 9,494 - 8 3,641 3,762 145 |
2021 £ 111,875 1,390 1,048 (14,371) - 99,942 7,963 2 1,510 109,417 - (69,525) 39,892 |
£ 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) (66,073) 28,639 |
|---|---|---|---|---|
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THE FAIRFIELD TRUST
DETAILED INCOME AND EXPENDITURE ACCOUNT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2021
| Net gains on investments Revaluation of investments Net movement in funds |
17,360 | (23,508) 17,360 (23,508) 57,252 5,131 |
|---|---|---|
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THE FAIRFIELD TRUST
SUPPORT AND GOVERNANCE COSTS FOR THE YEAR ENDED 31 OCTOBER 2021
| Support costs Property management fees Telephone Website costs Governance costs Legal and professional Independent Examiner's fees Trustees' expenses |
£ 1,652 1,800 310 |
2021 £ 3,312 269 60 3,641 3,762 7,403 |
£ 125 1,800 - |
2020 £ 3,376 496 680 |
|---|---|---|---|---|
| 4,552 1,925 |
||||
| 6,477 |
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