## |The Oldham|The Oldham|Foundation|Foundation||||| |---|---|---|---|---|---|---|---| |Contents|||||||| |Year Ended||5|April 2021||||| ||||||||Page| |Reference|and||Administrative|Information|||| |Trustees'
Annual
Report|||||||2-3| |Independent||Examiner's
Report|||||| |Statement|of Financial Activities||||||| |Balance Sheet|||||||| |Notes to the||Accounts:|||||| ||||1.Accounting|Policies|||| ||||2. Rental Income and||Expenses||| ||||3.Quoted
Investment||Income||| ||||4.Grants Payable||||9-10| ||||5.Governance|Costs|||| ||||6.Investment|Properties|||| ||||7.Cash||||12| ||||8.Debtors||||12| ||||9.Creditors: Amounts||Falling|Due Within One Year|12| ||||10.Schedule|of Investments||- Quilter Cheviot Account|13 —19| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||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| ## ## ## ## ## ## ## ## ## ## ## ## |Yea|r E|nded 5April 2021|||||| |---|---|---|---|---|---|---|---| ||||||Page|2021|2020| |||||||6|F| |2.||Rental Income and Expenses|||||| ||(a)|Summary|||||| |||Rental and other income|||||| |||50'/6 share
in 1/1A Queen's||Circus, Cheltenham||15,847|24,367| |||70'/6 share
in 12 Montpellier||Arcade, Cheltenham||7,098|16,800| ||||||5|22 645|41,167| |||Rental expenses|||||| |||John Ryde management|fees|||488|2,523| |||Other expenses||||4,291|| |||||||4,779|2,523| |||Total net rental income||||18,166|38,644| ||(b)|Analysis
by property|||||| |||50'/6 share
in 1/1A Queen's|Circus, Cheltenham||||| |||Income|||||| |||Rental income||||15,847|24,367| |||Lease premium|||||| |||Less rental expenses:|||||| |||John Ryde management||fees||(408)|(1,515)| |||Repairs||||(375)|| |||Net rental income||||15,564|22 652| |||70'/6 share
in 12Montpellier|Arcade, Cheltenham||||| |||Rental income||||7,098|16,800| |||Less rental expenses|||||| |||John Ryde management||fees||(80)|(1,008)| |||Surveyor's
fees and|insurance
costs|||(3,916)|| |||Net rental income||||3,102|15,792| |||Total net rental income||||18,166|38,644| ## ||||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|