Charity number: 267670
NORFOLK ORNITHOLOGISTS ASSOCIATION
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
NORFOLK ORNITHOLOGISTS ASSOCIATION
| CONTENTS | |
|---|---|
| Page | |
| Reference and administrative details of the charity, its trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 17 |
NORFOLK ORNITHOLOGISTS ASSOCIATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020
Trustees
Dr S P Newman Mr D Gamble Dr K J Fox Mrs J Barker Mr P J Bangs Mr M Rae Mr R Skeen Ms L Ferrer
Charity registered number
267670
Principal office
The Poplars, 37 Granville Road, Wigston, Leicestershire, LE18 1JQ
Accountants
Larking Gowen LLP, Summerhill House, 1 Sculthorpe Road, Fakenham, NR21 9HA
Page 1
NORFOLK ORNITHOLOGISTS ASSOCIATION
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020
The Trustees present their annual report together with the financial statements of the charity for the 1 January 2020 to 31 December 2020.
Objectives and Activities
a. Policies and objectives
The objects of the charity are to advance the study and science of ornithology by acting as the parent body to Holme Bird Observatory and help engage as far as possible the full time services of a warden for the observatory.
Achievements and performance
a. Review of activities
In common with organisations everywhere, the Norfolk Ornithologists’ Association (NOA) was impacted significantly by the COVID pandemic in 2020. Fortunately, it was possible for our Wardens to continue working on our reserves during lockdowns, because each was able to work in isolation. The reserves were closed to visitors from late March to mid-July.
Following Trustees’ meetings in both January and February, we felt unable to hold further face-to-face meetings for the remainder of the year. However, the Trustees continued to attend to NOA business via regular circulation of papers. The composition of the Council of Trustees remained unchanged during 2020, but we had one change to our staff, with Assistant Warden David Bratt leaving in February to be replaced by Emma Buck. The Assistant Warden’s post continues to be funded by the Goldcrest Charitable Trust.
Sadly, all our usual events planned for summer 2020 had to be cancelled. Therefore moth days at Holme and Hempton Marsh could not be held, while participation in the Pensthorpe Bird and Wildlife Fair, and our popular Go Wild at Drove event planned for the Drove Orchards complex in early August, were also casualties of COVID. We explored various options for holding an AGM, but ultimately we opted simply to cancel it. Reports from Chairman and Treasurer were prepared and were made available to any member requesting them.
During 2020, the Association produced its annual report for 2019. As usual, this contained a systematic list of bird species seen, together with articles about birds and other wildlife on NOA reserves. Our in-house team was responsible for production of the report, which was printed by a local firm based in Hunstanton. Quarterly Newsletters were also produced, and these were sent to members either electronically or by post.
Following the receipt of a major bequest from a former member in 2019, we were delighted to be informed during 2020 of two further significant bequests. Interim payments have been made in the 2021 year from both of these bequests, with final distributions expected later in 2021 amounting to approximately £300,000 in total. No amounts are recognised for the bequests within these financial statements because the criteria for recognition was not met at 31 December 2020. These bequests are very welcome to the Association, as they provide us with security and flexibility in uncertain financial times. The NOA has been dependent in part upon receipt of agri-environment grants, and the form that these will take following Brexit is still uncertain. Income received from memberships, donations and agri-environment grants during 2020 was supplemented as usual by the proceeds of our Annual Grand Draw and of our 200 Club: draws for the 200 Club were made on a quarterly basis.
Despite the pandemic, we were able to monitor birds and other wildlife not only at Holme Bird Observatory (HBO) throughout the year, but also at our reserves at Walsey Hills, Redwell Marsh and Hempton Marsh. We continued regular ringing at the Observatory and at a variety of other sites in north Norfolk. Although fewer than 1,800 birds were ringed at HBO in 2020, this was more than ameliorated by increased ringing effort at other sites where the NOA is active, resulting in an additional 3,500 birds being ringed.
Page 2
NORFOLK ORNITHOLOGISTS ASSOCIATION
TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2020
Review of activities (continued)
While 2020 was a year of turmoil and uncertainty, our membership has remained loyal, and the work of our Wardens has been assisted by dedicated volunteers who have been able to help when COVID restrictions have permitted. Lockdown provided the opportunity to review historical bird records, and this led to the production of a book The Birds of Holme Bird Observatory 1962-2020, due for publication in summer 2021.
Financial review
a. Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
b. Reserves policy
The attached accounts demonstrate in financial terms the activities of the Charity for the past year. As can be seen, the Charity has a deficit in the current year of £4,801 (2019: surplus of £275,050). The surplus in the prior year was due to a significant legacy receipt in that period.
The Charity has unrestricted reserves of £290,584 (2019: £287,297) which can be used at the trustees' discretion in the furtherance of the Charity's objectives. There are designated reserves of £83,450 (2019: £83,450) which represent the cost of the property that was purchased using the Lottery grant of £38,000 and other properties purchased since 1973, excluding the costs of the Redwell land and swap fees. The restricted reserves balance is £nil (2019: £8,088), this represents unspent donations for the provision of a warden at Walsey Hills and donations for a Toyota Hilux net of depreciation.
The Charity will initiate steps to look into the major risks faced by them and take any necessary action to mitigate these risks.
Structure, governance and management
a. Constitution
Norfolk Ornithologists Association is registered with the Charity Commissioners (charity number 267670). It registered with effect from 23 August 1974 and is governed by its constitution.
b. Method of appointment or election of Trustees
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
The NOA was founded in the 1960s to be the parent body to fund and administer Holme Bird Observatory, the only accredited bird observatory in Norfolk.
The charity's constitution states that the business of the Association shall be governed by a council of not less than five or more than nine members, each of whom shall be a Trustee of the Association.
Page 3
NORFOLK ORNITHOLOGISTS ASSOCIATION
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020
Independent examiner's report to the Trustees of Norfolk Ornithologists Association (the 'charity')
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 December 2020.
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
Responsibilities and basis of report
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and 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 the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts 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 been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
-
the accounts do not accord with those records; or
-
the accounts 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 accounts to be reached.
Signed: Dated: 11 October 2021 Christopher Yeates FCA DChA
Larking Gowen LLP Chartered Accountants Fakenham
Page 5
NORFOLK ORNITHOLOGISTS ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
| Note Income and endowments from: Donations and legacies 2 Charitable activities: Activities for generating funds 3 Investments 4 Total income and endowments Expenditure on: Costs of generating funds 5 Charitable activities Governance Total expenditure Net income / (expenditure) before transfers Transfers between Funds 15 Net income / (expenditure) before other recognised gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Designated funds 2020 £ - - - - - - - - - - - - 83,450 83,450 |
Restricted funds Unrestricted funds 2020 £ 2020 £ 22,253 4,177 - 50,632 - 5,530 22,253 60,339 - 3,452 22,253 51,523 5,297 4,868 27,550 59,843 (5,297) 496 (2,791) 2,791 (8,088) 3,287 (8,088) 3,287 8,088 287,297 - 290,584 |
Total funds 2020 £ 26,430 50,632 5,530 82,592 3,452 73,776 10,165 87,393 (4,801) - (4,801) (4,801) 378,835 374,034 |
Total funds 2019 £ 300,269 47,677 1,593 |
|---|---|---|---|---|
| 349,539 | ||||
| 3,431 60,666 10,392 |
||||
| 74,489 | ||||
| 275,050 - |
||||
| 275,050 275,050 103,785 |
||||
| 378,835 |
The notes on pages 8 to 17 form part of these financial statements.
Page 6
NORFOLK ORNrrHOLOGISTS ASSOCIATION BALANCE SHEET AS AT 31 DECEMBER 2020 2020 2079 Flxfjd assets Tangibl8 assets Current assets stocks 11 91.540 12 13 245 11.072 291.703 06btors Cash al bank and In haid 6.828 297,220 304,293 3(X3.020 Creditor&' •Mnts faling dua vkn or year 14 117328) (14725) Not ¢UTr•rrt aets 287.06$ 28T.295 374.034 37&835 ChaDty Funds Designated funds Restricted funds U1$1n¢A0d fvnds 15 15 15 81450 8.088 287,297 T¢)tal funds 374.034 37&835 I signed on their behalf. by: Davld Gamb Tr¢a$ur¢r The nths (m pages 8 to 17 port ofthese finaMAal statement Page 7
NORFOLK ORNITHOLOGISTS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared to give a 'true and fair' view and 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 Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: 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) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.
Norfolk Ornithologists Association constitutes a public benefit entity as defined by FRS 102.
1.2 Going concern
The trustees have considered the charity’s position at the time of signing the financial statements, and in particular the current issues caused by Covid-19 and its potential impact on the charity and the wider economy. The trustees have considered the current financial strength of the charity.
Based on this, the trustees have concluded that they have a reasonable expectation that the charity will have adequate resources to continue in operational existence for the foreseeable future, and at least twelve months from the date of signing these financial statements, they therefore continue to adopt the going concern basis of accounting in preparing these financial statements.
1.3 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 8
NORFOLK ORNITHOLOGISTS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. Accounting policies (continued)
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably..
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Charitable activities and Governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
1.5 Tangible fixed assets and depreciation
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold property - Nil - Plant and machinery 25% Straight line Motor vehicles - 25% Straight line
1.6 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
1.7 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
1.8 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 9
NORFOLK ORNITHOLOGISTS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. Accounting policies (continued)
1.9 Cash at Bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.10 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
1.11 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
1.12 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
2. Income from donations and legacies
| Donations Legacies Total donations and legacies Total 2019 |
Designated funds 2020 £ - - - - |
Restricted funds Unrestricted funds 2020 £ 2020 £ 22,253 4,177 - - 22,253 4,177 18,035 282,234 |
Total funds 2020 £ 26,430 - 26,430 300,269 |
Total funds 2019 £ 25,773 274,496 |
|---|---|---|---|---|
| 300,269 | ||||
Page 10
NORFOLK ORNITHOLOGISTS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
3. Fundraising income
| Membership income Permits Sales (books, cards, videos, etc) Fundraising activities Miscellaneous income Basic Payment Scheme & Higher Level Stewardship Scheme Total 2019 Investment income Investment income Total 2019 Costs of raising funds Goods for resale Fundraising costs Total 2019 |
Designated funds 2020 £ - - - - - - - - Designated funds 2020 £ - - Designated funds 2020 £ - - - - |
Restricted funds Unrestricted funds 2020 £ 2020 £ - 30,190 - 1,316 - 120 - 7,418 - 130 - 11,458 - 50,632 - 47,677 Restricted funds Unrestricted funds 2020 £ 2020 £ - 5,530 - 1,593 Restricted funds Unrestricted funds 2020 £ 2020 £ - 633 - 2,819 - 3,452 - 3,431 |
Total funds 2020 £ 30,190 1,316 120 7,418 130 11,458 50,632 47,677 Total funds 2020 £ 5,530 1,593 Total funds 2020 £ 633 2,819 3,452 3,431 |
Total funds 2019 £ 26,542 1,552 233 7,762 62 11,526 47,677 |
|---|---|---|---|---|
| Total funds 2019 £ 1,593 |
||||
| Total funds 2019 £ 686 2,745 3,431 |
||||
4. Investment income
5. Costs of raising funds
Page 11
NORFOLK ORNITHOLOGISTS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
6. Charitable activities
| Wages Water rates Electricity Travelling Office stationery and printing Postage and carriage Telephone Repairs and renewals Site development - Hempton Site development - Redwell Site development - Observatory Miscellaneous expenses Rent Site development - Walsey Ringing costs Website costs Pension contributions Total 2019 |
Activities £ 50,984 97 2,033 2,374 4,449 2,334 995 4,466 65 288 671 1,520 240 134 1,823 257 1,046 73,776 60,666 |
Total 2020 £ 50,984 97 2,033 2,374 4,449 2,334 995 4,466 65 288 671 1,520 240 134 1,823 257 1,046 73,776 60,666 |
Total 2019 £ 45,702 60 2,194 2,247 3,204 1,304 739 514 75 - 1,210 1,328 240 - 954 159 736 60,666 |
|---|---|---|---|
7. Governance costs
| Designated funds 2020 £ Independent Examiner's costs - Insurance - Professional fees - Depreciation - - |
Restricted funds Unrestricted funds 2020 £ 2020 £ - 1,200 - 2,368 - 180 5,297 1,120 5,297 4,868 |
Total funds 2020 £ 1,200 2,368 180 6,417 10,165 |
Total funds 2019 £ 1,136 2,320 980 5,956 |
|---|---|---|---|
| 10,392 |
Page 12
NORFOLK ORNITHOLOGISTS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
8. Net income/(expenditure)
This is stated after charging:
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Depreciation of tangible fixed assets: | ||
| - owned by the charity | 6,423 | 5,956 |
During the year, no Trustees received any remuneration (2019 - £NIL). During the year, no Trustees received any benefits in kind (2019 - £NIL).
During the year, 1 Trustee received £83 being reimbursement of expenses paid on behalf of the charity (2019 - £158).
There were no related party transactions in this or the prior period.
9. Independent Examiner' remuneration
The Independent Examiner's remuneration amounts to an Independent Examination fee of £1,200 (2019 - £1,136.)
10. Staff costs
Staff costs were as follows:
| Pension contributions Wages and salaries |
2020 £ 1,046 50,984 52,030 |
2019 £ 736 45,702 |
|---|---|---|
| 46,438 |
The average number of persons employed by the charity during the year was as follows:
| 2020 | 2019 |
|---|---|
| No. | No. |
| 2 | 2 |
No employee received remuneration amounting to more than £60,000 in either year.
Page 13
NORFOLK ORNITHOLOGISTS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
11. Tangible fixed assets
| Cost At 1 January 2020 Additions At 31 December 2020 Depreciation At 1 January 2020 Charge for the year At 31 December 2020 Net book value At 31 December 2020 At 31 December 2019 |
Freehold property £ 85,430 - 85,430 - - - 85,430 85,430 |
Plant and machinery £ 19,241 1,852 21,093 18,928 626 19,554 1,539 313 |
Motor vehicles £ 33,242 - 33,242 27,445 5,797 33,242 - 5,797 |
Total £ 137,913 1,852 |
|---|---|---|---|---|
| 139,765 | ||||
| 46,373 6,423 |
||||
| 52,796 | ||||
| 86,969 | ||||
| 91,540 |
The properties are made up of nature reserves/land.
£
| 1973/74 Holme Dunes | 100 |
|---|---|
| 1985 Redwell Marsh approx 35 acres | 34,000 |
| 1989 Whiddington Wood | - |
| 1973 Walsey Hills | 100 |
| 1984 The Quags | 5,000 |
| 1984 Salthouse Estate | 750 |
| 1980 Aslack Way Office | 5,500 |
| 2000 Hempton Marsh property | 38,000 |
| 2010 Redwell land swap fees | 1,980 |
| Total | 85,430 |
12. Stocks
| Stocks | ||
|---|---|---|
| 2020 | 2019 | |
| £ | £ | |
| Raw materials | 245 | 245 |
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NORFOLK ORNITHOLOGISTS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
13. Debtors
| Debtors | ||
|---|---|---|
| Trade debtors Other debtors Prepayments and accrued income Creditors: Amounts falling due within one year Trade creditors Accruals and deferred income |
2020 £ 1,743 2,655 2,430 6,828 2020 £ 15,488 1,740 17,228 |
2019 £ 1,622 2,872 6,578 |
| 11,072 | ||
| 2019 £ 14,025 1,700 |
||
| 15,725 |
14. Creditors: Amounts falling due within one year
Page 15
NORFOLK ORNITHOLOGISTS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
15. Statement of funds
Statement of funds - current year
| Statement of funds - current year | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Balance at | |||||||||
| Balance at | 31 | ||||||||
| 1 January | Transfers | December | |||||||
| 2020 | **Income ** | Expenditure | in/out | 2020 | |||||
| £ | £ | £ | £ | £ | |||||
| Unrestricted funds | |||||||||
| General Funds 287,297 |
59,519 | (59,023) | 2,791 | 290,584 | |||||
| Other General funds - |
820 | (820) | - | - | |||||
| 287,297 | 60,339 | (59,843) | 2,791 | 290,584 | |||||
| Designated funds | |||||||||
| Designated Funds 83,450 |
- | - | - | 83,450 | |||||
| Restricted Funds 8,088 |
22,253 | (27,550) | (2,791) | - | |||||
| Total of funds 378,835 |
82,592 | (87,393) | - | 374,034 | |||||
| The charity has restricted, designated and unrestricted funds. The unrestricted funds | are able to b | e | |||||||
| applied at the Trustees' discretion in connection with the charity's objectives. | |||||||||
| The designated funds represent the cost of the property that | was purchased | using the Lottery grant | o | ||||||
| £38,000 and other properties purchased since 1973, excluding | the costs of the | Redwell land swap fees. | |||||||
| The restricted funds represent; a 2017 donation towards the purchase of Toyota Hilux, net of subseque | n | ||||||||
| depreciation. | |||||||||
| Statement of funds - prior year | |||||||||
| Balance at | |||||||||
| Balance at | 31 | ||||||||
| 1 January | Transfers | December | |||||||
| 2019 | Income | Expenditure | in/out | 2019 | |||||
| £ | £ | £ | £ | £ | |||||
| General Funds 8,767 |
331,504 | (50,612) | (2,362) | 287,297 | |||||
| Designated Funds 83,450 |
- | - | - | 83,450 | |||||
| Restricted Funds 11,568 |
18,035 | (23,877) | 2,362 | 8,088 | |||||
| Total of funds 103,785 |
349,539 | (74,489) | - | 378,835 |
The charity has restricted, designated and unrestricted funds. The unrestricted funds are able to be applied at the Trustees' discretion in connection with the charity's objectives.
The designated funds represent the cost of the property that was purchased using the Lottery grant of £38,000 and other properties purchased since 1973, excluding the costs of the Redwell land swap fees.
The restricted funds represent; a 2017 donation towards the purchase of Toyota Hilux, net of subsequent depreciation.
Page 16
NORFOLK ORNITHOLOGISTS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
16. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Current assets Creditors due within one year Analysis of net assets between funds - prior year Tangible fixed assets Current assets Creditors due within one year |
Designated funds 2020 £ 83,450 - - 83,450 Designated funds 2019 £ 83,450 - - 83,450 |
Restricted funds Unrestricted funds 2020 £ 2020 £ - 3,519 - 304,293 - (17,228) - 290,584 Restricted funds Unrestricted funds 2019 £ 2019 £ 5,297 2,793 2,791 300,229 - (15,725) 8,088 287,297 |
Total funds 2020 £ 86,969 304,293 (17,228) 374,034 Total funds 2019 £ 91,540 303,020 (15,725) 378,834 |
|
|---|---|---|---|---|
17. Post balance sheet events
The charity were made aware within the year that they were to be among the beneficiaries of two estates. Payments have been received from the legacies within the 2021 financial year and the charity is expecting to receive payments in the region of £300,000 from the two legacies. No amounts are recognised for the legacies within these financial statements because the criteria for recognition was not met at 31 December 2020.
Page 17