Onward Trust Annual Report and Accounts 2020 Reglstered Charity Number: 268355
R¢¥is¢wed Clwit), IM).:68 J45 Trustees, Annual Report for the year ended 31 December 2020 AD cknityName onw Trnrt RetTe<llty mimber 208355 CIw"ty'.TpriKIwlthS$ 89 Kimbolton Road Br0rd MK419DL Nomej ol¢h7rtty trwmees D c.well Chllirrr Sdtlor AdviJws.' Agents Abbott& 41 Prince Otwe8 Ro. Cromer, Norfolk NR27 9HS Romanj, Crowthme Hous< Nine Rid< Wokingh Berkjhire RG40 3GZ Btwkers Santander Busin¢u BN, Bridl¢ R, B¢xk, Nl¢rxy$ith L30 4GB Scottish Widow5 Bank. 67 Morrilon Street, Ediftbur8h EH38YJ I¢1¢1 ExaMIr S. Cknrl 46 Othld lio•d, WaJthamow, Loryion E17 3RW tl <*ument De ofsettlement 20 September 1974 AD How ihp ¢lwlty Is c1x11th1¢d Charitablt Trust Trnsi¢¢.f¢l¢ciiiJn Truslees we okwnt&l by thE Sett.
Tru$tees' Annual Report 2020 AD {eont.) ment nd P Net wrplus wo5 added to the DigtributiOA Fund. Public BenefiiReq¥ir¢m¢nl Having paid due re88rd io Charity Commi10n 8uid&tKe on public b¢nefit. the trSlee8 have exercised thur discrtAion in a¢¢ordance wth the tenns of their 8overnin8 doojment to make payment$ from the Di91ribution Fund to improv¢, rep4ir, maintAin and servicz ¢lerBy retirement a¢¢ommod&lion. MajoT expenditure on revenue•gen¢ratin8 propertiu this ye4r involved extensive generat mointenan¢e and improvements al one property (13), in ord¢T to brinB the propty into 4 8er standard for 0upAtIOn. tiOD Fin Re.ferv¢s Policy DESIGNATED RESERVE FUND 13ORP 2005 P• 5Sa) In {der to ntee benefi¢iw wirity of ienure in the event of unexpected or uMvoid4ble revenu¢ reduclion, the tnJ8tee8 have aBreeAJ a policy to hold regerves AffL¢iertt to cover the co$ of rdirement &¢conunodation anti¢ip&ted to be in¢urred over & ptfied mmiber of future yews Accordingly the trumtts have approv a r¢s¢rve of £80.(KXI. This poh¢y is reviewed aThmlIY in ihe bBht of figures for likely future incom¢. voids. default4 and expenditure. DESIGNATED PROPERTY REPAIR FUND £30,1KKI is reryeA1 to covtt emeigen¢y proputy Tepairs. ion The trues declare th8t they have approved this tru8¢ees' reiK)rt. Sigmdon behalJoJihe ¢'lwity'& FullthThe Daphne O Cranwell PositiL* Chairman Lkie
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R¢ui¥ief¢J Charil%' 468315 Annual Accounts for the year ended 31 Deeember 2020 AD r FinAncial Ac INCOMING RF.SOURCES (Note 3) 021) AJJ Investment income Rcnl Dividends & InterL'St Ial IncoMIMg resomrc 52,928 821 53.384 252 RF.SOIJRCF.S F.XPF.NDF.D (Notes 4 - 8) c.osts of Eeneratin2 fund5 InvestmLnl managiem¢nt costs 18.176 16.353 Charitable 4ctivi¢i¢s 19.036 25.219 Governance costj Indendent Examiner's fee 50 Trtol resources upended 37,462 41,822 Nei IncomlnR resources t)islribution fund 18.287 14,814 OI'HER RECOGNISED GAINS Revaluation of Inv¢slments Revaluation of Property Totyl funds brought forward Tol4lfuftds carrledfonvard 1,431 60,000 2 078 623 2,1$8J41 8,186 50,000 2 005 6?3 2,078.623
k¢W¢d ChAni! no •6835 Annul A¢¢ounts 2020 AD (eont.) io Blan 31st Deeem r 2020 AD All TANGIBLE FIXED ASSETS Tangibl¢ Assets (Note 91 Investments (Note 101 ,202,451 815 075 2,017.526 1.872,723 1.956.367 CURREKf ASSETS Debtors and Pr¢poym¢nls (Note 11) 4.650 Bank c¢1 Account 104,523 Bank Dcwsil Accounts 30.000 3.525 89,3?] 30.1XKJ Lease tkw51t Toiqlcurrent assets 141,873 125 $46 CRF.DITnRS.' amounts falling due within one ycar INolL I ?} c4rreni tL¥sels {1.0581 (3.290) 122 256 2,078,623 assas 2,1I8J41 FUNDS OF THE CHARITY Ilnre.Ilricted: Income Trynds tiLneral. l)i.strit)ution bund D¢51&inatcd. pro[rtY R¢wr Fund Ik8i&Jnatcd. Reserve Fund 98.727 30.000 80.000 80.441 30,0(M) 80,000 Restricted: Perm•nent Endowment Funds INote 131 -I'hL.'I ru%( Fund Investment Revaluation R¢serv¢ 226,117 Property Rcvalualion R¢serve 717,825 I OU5 679 Tothlfunds 2.IS8J41 226,117 23,644 638491 2,078.623 Approvcd by the tru51 ..D O Cranwell . J SMleY Date..QJ...b. -
Xe¥i%ieil ('harii% na 908.11fj Note l B•siJ of Prer¥I10th These linanci&l stiiemenis hav¢ been prepard in accordonte wilh ihe 8ccounliny pclsoieJ y¢1 out below Ind c4)mply wiih th¢ chariiy'y 8overnin¥ document, Ihe Chariiieo Aci 2UI I, A¢couniiDAI s1 Rwrtin¥ by Chantiey SIAienieni ol'KecnniNiendcd Prafflice applicable iochariiie$ preparin8 tJir 4cwuni> in DC¢OTth¢¢ wilh Ibe FiMn¢ial Rcpiiriiii¥ Slalird lor Srtoller Lntlll¢5 publisbcd on 16. July 2014 1. 2 ChAlllt in bill¥ of•¢tOUniin8 There boen no ¢hin8e to Ihe aecounlin8 policies [VUl110n rules and methods of COUntin8) since list year 1. 3 ChaTh8ts w prtvlow No ¢honyes have been mad¢ io 4ca>unig for prewous y¢ori. Note 2 A¢¢ountin8 policies IF4C.OMING RTr.'SOIIRCES Re¢oRnilioh of intomln8 These we in¢ludd itt the Statement ofrjnanoinl Adiviiies (SOFA) wh¢n Jour¢u * the Charity become$ ¢niitl¢d lu the reurce$. * Ihc Irusteeb Ire VirtUlY ¢¢nwn Ihai Ih¢y will receive the reurCes. artd * the monetary value Can be measured wilh wffieieni reliabsliiy EXPEND11'IIRE AND LIAiIII,ITIES I,iabililie6 Ire rOlled is won as Ihere is o leual or wnructve obli8O1iott ¢ommiltin¥ th¢ ¢hority 10 pay out r¢wuTtt3 Governn¢t ¢NtI In¢ludc ¢osig of th¢ pr¢p4rntion Hnd examinition of st&hJtory accoun¢5, ¢hc co8 of iruste¢ methinys and cosl of xny l¢yal advice to tLU$l¢<S on Bovernanc¢ orconiiution41 maiieT5. ASSVTS 'IAn8ible fjxed 14st¢i for uit by ihe ¢h*Aty The crity is ¢hc b¢nefi¢ial own¢r ofTtsidentiAI properti¢& ¢xp¢ndilure 0550cialed wih the purchase and major renovaiion of which becn capilali5ed (hher a55els are capitalised if they can be u8ed for more than one Yr, and cogt ai lust £500. They are valued at co8( and deprcciated as follows FurniiuTr, Fixture$ & Fittin83 I/0 of the writl¢n down value. Note 3 AnAlyJiJ of ineoming reJollrceJ ()2n AD j.abl year come from Teits Gr05s rent LLSS Void5 Default 53.978 (1.050) 53.384 52,921 53.J84
nw Resisier¢d Chrity no 26835 othe ecounts co 20 ote 4 Analyyls of resources expended 020 Investmetht m#nAgemenl ¢OIt¥ Mana8em¢rtt fees Property Insurance Repiirs and R¢newa]$ Depreciiiion Council Tax 10,251 815 6.770 272 68 18.176 9.22fy 772 6,027 303 25 Ib,353 Chrliblt attivititt- Provision of &c¢ommodation for Tetired cleryy l.ease I 11 mgnih 16.200 Property [ltell&ll¢e and in5uranc¢ 2.193 Rale& iaxes and 5eTvi¢es 10.200 7.978 22.868 28.778 Serlryce eontribuiion Trtal 19,037 25,919 Note 5 not ipplicable Note 6 Det#ily of certain items of expenditurt 6. 1 Truiitt expensei- nil 6. 2 Fee for txAminAtion of tht Account• 50 250 $0 250 Noies 7 4nd 8 not applicable Note 9 Tangibl¢ fixed sJets Frethold Inve51ment Property Furnlture & Fitlin8S Total 9. 1 Co*tl VAlu#ilon At01101120 Additions rt'ransferg RevAluaitons At31112120 Row 1.870.000 1692.7501 25,387 1.89S,387 1692,750) DIA+B+CI 87 9. 2 Ar¢umylAted dtptYciAtlon At01101120 Charge foT the y¢ar Ai.3111420 22.664 272 22.664 272 G (E+F} 9. 3 Net book v•lue AI01101120 AI 3111Y20 H IA.E) 1.870,0(K) l {D.Gl 1.2(K),( 2.723 2.451 1,872.723 1202,4fj1 9. 4 Revaluation All Frechold investment properties were revalued at 31 Dettmber 2020 AD. 9. S Fund awaiting investment. The independeni valuatiotj fiyure for one a5sei. not re8iSteTtd in the me$ of the irustees, L5 identified a8 a thnd awaiiin¥ iThveitm¢n¢ (See Note 10. I)
R1¢re0 Clwly 110. 2ts8J55 Note 10 Inve41ment 4Jsets io. t b'lied lllvutmtnli refers 10 fiinds DWAltsny inve5trneDI and uni18 held in ipproved cknity investment M•eMen1 companies. and Jhowm in th¢ bAnCe ¥hett &1 cwreni v8lue. 20 l)A Amounlj fallin8 due wiihin one year Note I l Debtorj 8Dd prepmymtnts Debton Reni 3,3C 2,17 Prep%ymeNt5 Ind a¢¢rned Income Reni 89KR one montll 4.650 .1,525 Note 12 Creditors ¥nd Ac¢ruxli 12. 1 An#lyslg oleredltot Repairs Reni Leilin Ayeni's FeeJ Independeni Examiner's fee Amouni$ fallin8 du¢ thin one year 560 248 250 1,058 25 3,290 Note 13 F,ndowment funds 13. 1 Funds hdd I'HE I'RIISI. FLJNI) (pennanI endown¢ot). was ¢$tabli$hed by a Trust Deed daid 20 SeptembcT 1974 AD lo huld Ihe assets of Ihe charily It has bern 4uum¢ni¢d with the proceeds of two surrendered life a55UTancc policies 51nce Ihai dale The whole or 5uGh part lif any) of the TTU81 income as ihe Irusie¢s iti th¢ir absolule diretIOn sh811 determine shall be applied lo 4y¥m¢ni th¢ p¢n$ion$ ofor 10 provid¢ a¢ry)mmodalion for si¢k infirm and pool clciyy #t0 lor for th¢ b¢n¢fii of all or any of 8¢v¢n $t)ied Chtles. PROPER TY REVALUATION Rr.v. IPermanent endowment) The ITU#¢¢S revalue the Trust propertie5 as appropriate, and ¢han¥L5 in Ih¢ir VUeS are iaken 10 this Te8erve futKi. Note 14 Tr4n5#CtionJ with related Parties 14. 1 Remunertion And benefits A Deed of Apwinlment dated 24 April 2001 AI), 8ovemin8 transaaion5 on behalf ofihc Iru5tee5 by the Manayin8 A¥eni who waj thc oriminal setilor of the TTUJI. 8uihorisey the payineni of ¢¢rtain fees and mmI8510nS The tru$i¢es received no forn) of remuneraliort. 2020 AD 3.897 2.990 14. 2 imn• 14. 3 Other trnJactLOllS Wlth related pArtie* Retireiiieni accommodaiion, leased for th¢ charity's objects rTOm D N¢villc & F Hulton-michcl, is the subject of In amreement approved by ihe Ch&rity Commission dated 31 October 2(XX) AD. Non¢ None 16.2¢J) 16,200