2021-04-05-accounts - The Oldham Foundation

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

					Note	2021	2020
						E
UNRESTRICTED FUNDS
Income fund
Income and endowments from: Rental income Quoted investment income						22,945 12,635 35,580	41,167 14746 55913
Expenditure on: Quoted investment management costs Rental expenses Grants payable Trustees' and honorarium expenses Bank charges Governance costs					2 4 5 5	6,307 4,779 42,103 1,524 15413	8,340 2,523 56,338 4,635 20 21,879
						70,126	93,735
Net expenditure						(34,546)	(37,822)
Transfer from capital funds						34,546	37,822
Income fund balance brought	forward
Income fund balance carried		forward
Capital funds
Main fund Balance brought forward						507,002	544,824
Liquidation receipts Transfer to income fund Balance carried forward						1 ~34 546 472,457	~37,822 507,002
Revaluation reserve
Balance brought forward Net loss on investment properties Net (loss) Igain on quoted investments Balance carried forward					6 10	657,517 139,252 796,769	747,546 (14,000) ~76 029 657,517
Total capital funds balance	carried		forward			1,269,226	1,164,519
Total unrestricted funds balance brought				forward		1,164,519	1,292,370
Net movement in unrestricted		funds				104,707	(127,851)
Total unrestricted funds balance carried				forward		1,269,226	1,164,519

			Note	2021	2020
					6
Fixed assets
Investment properties Investments - Quilter Cheviot account			6 10	620,000 617,915	620,000 531,815
				1.237 915	1,151,915
Current assets
Cash				36,186	23,877
Debtors				24,299	22,049
				60,485	45,926
Total assets				1,298,400	1,197,741
Creditors: amounts		falling due within one year	9	(29,174)	(33,222)
Net assets				1,269,226	1,164,5'I 9
Representing:
Income fund
Capital funds: Main fund				472,457	507,002
Revaluation	reserve			796,769	657,517
Total funds				1,269,226	1,164,519

			Page	2021	2020
				E
Quoted Investment Income
Quilter Cheviot account UK interest				2,087	3,115
UK dividends				7,279	8,055
Overseas interest				881	915
Overseas dividends				2,388	2,661
				12,835	14,748
Grants Payable
Grants payable All Saints Church, Weston					2,300
Attitude Is Everything Batheaston New Village	Hall				2,000 500
Ben Kinsella Trust					1,500
Cheltenham Bach Choir					1,000
Cheltenham Festivals				14,000	14,000
Cheltenham Poetry Festival					1,250
Cheltenham Science Group					500
Classic FM				6,000	4,000
Creative Youth Network				1,000	1,000
Gloucester FM					2,000
Gloucester History Trust				1,000	1,600
Jackdaws Music Educational		Trust			700
Kennington Cinema Museum					1,500
Music Venue Trust				3,000
Grants payable subtotal			10	25,000	33,850

		Page	2021f	2020f
Grants Payable (Continued)
Grants payable subtotal from previous	page		25,000	33,850
Pirton Bury Trust Radio Winchcombe Salisbury Festival Trinity Community Arts Victoria Art Gallery Winchcombe Music 8Arts Festival			6,000	2,000 2,000 4,000 1,000 500 1,000
			31,000	44,350
Grants to Oldham Pensioners			11,103	11,988
Total grants payable		5	42,103	56,338

				Page	Page		2021		2020
							E
5.	Governance Costs
	Michelmores fees						14,963		21,579
	Independent examination fees						450		300
							15,413		21,879
	No trustee received any remuneration	during	the year (2020:			Nil).
	Honorarium expenses were paid to cover the costs of administering the grants to the Pensioners. Two trustees were reimbursed for out-of-pocket expenses, the majority								Oldham of which
	related to travel, subsistence and	accomodation		while	engaged		in charitable	work	for the
	recipients ofsome oftheir charitable	grants.
	There were no related party transactions during the			year	(2020: Nil).
	Investment Properties
	50%share in 1/1A Queen's Circus, Cheltenham Investment value brought forward						357,500		357,500
	Gain on revaluation (note 1(d))
	Fair value at 5 April						357,500		357,500
	70%share in 12Montpellier Arcade, Investment value brought forward Loss on revaluation (note 1(d))	Cheltenham					262,500		276,500 14,000
	Fair value at 5 April						262,500		262,500
	Total fair value at 5April				6		820,000		820,000

o the Accounts (Co April 2021	ntinued)
			Page	2021	2020
				6
Cash
Accounts as follows:
Quilter Cheviot Income Quilter Cheviot Capital NatWest				43 16,883 1,470	252 6,386 1,489
Michelmores Client				3,878	13,875
Rental deposit John Ryde -monies	retained			1,875 12,037	1,875
			6	36,186	23,877
Debtors
Accrued investment income Rent owed from tenants				1,671 19,698	944 18,913
Reimbursement due	for tenant costs	borne		1,644	1,644
Prepaid expenses Owed from Quilter Cheviot - Payment		after Y/E		548 738	548
			6	24,299	22,049

Creditors: Amounts Falling Due W	ithin One Year
Grants payable (see below) Gift due to Oldham Pensioner Rental deposit held Deferred rental income			14,000 1,875 6,695	14,000 916 1,875 8,749
John Ryde management fees Quilters fees Michelmores fees			1,135 1,698 2,251	1,135 1,881 3,596
Independent examination fees Funds owed to the Orlando Oldham	Will Trust		1,050 470	600 470
		6	29,174	33222