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|Reference and Administrative<br>Details|Reference and Administrative<br>Details|Reference and Administrative<br>Details|1to4|
|---|---|---|---|
|Chair's Statement<br>and|Trustees'|Report|5to 16|
|Statement ofTrustees'|Responsibilities||17|
|Independent<br>Auditors'|Report||18to21|
|Statement<br>ofFinancial|Activities||22 to23|
|Balance Sheet|||24|
|Statement<br>ofCash Flows|||25|
|Notes to the Financial|Statements||26 to49|
|Appendix<br>1|||50|





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|Ref|Ref|erence and|Administrative<br>Details (contin|
|---|---|---|---|
|Finance Committee|||Martin<br>G Mullin,<br>Chair|
||||Giles H Mounsey-Heysham|
||||Anthony<br>D Glynn|
||||lan S Lowthian|
||||Philip Stout, Co-opted Member|
||||Stuart Coe, Co-opted Member|
|Audit Committee|||lan S Lowthian,<br>Chair|
||||Anthony<br>D Glynn|
||||Martin G Mullin|
||||Roger Cooke, Co-opted Member|
|Business Development||Committee|Christine<br>Sheldon,<br>Chair|
||||Giles H Mounsey-Heysham|
||||William R Bell|
||||lan S Lowthian|
||||Corinna<br>Cartwright|
||||Janaki Spedding,<br>Co-opted Member|
|Operations|Committee||Julian J Handy,<br>Chair|
||||Giles H Mounsey-Heysham|
||||Corinna<br>Cartwright|
||||lan S Lowthian|
||||Rosemary<br>Riley, Co-opted Member|
|Nominations|Committee||William<br>R Bell, Chair|
||||Giles H Mounsey-Heysham|
||||Claire Hensman|
|Calvert Reconnections||Committee|William TSBraithwaite<br>QC, Chair|
||||Christine<br>Sheldon|
||||Giles H Mounsey-Heysham|
||||William<br>R Bell|
||||Martin G Mullin|
||||lan S Lowthian|
||||Heather A Batey|
||||Fiona Nixon, Co-opted Member|





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|||Rec|ognised Gain|s and Losses)|||
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
|||Note|funds<br>E|funds<br>E|2020f|2019<br>5|
|income and Endowments||from:|||||
|Donations<br>and legacies||3|697,485|117,301|814,786|1,558,310|
|Charitable<br>activities||4|312,293||312,293|1,170,202|
|investment<br>income||5|7,905||7,905|24,755|
|Total income|||1,017,683|117,301|1,134,984|2,753,267|
|Expenditure<br>on:|||||||
|Raising funds|||(92,964)||(92,964)|(97,174)|
|Charitable<br>activities|||(1,767,371)|(11,048)|(1,778,419)|(1,823,193)|
|Total expenditure|||(1,860,335)|(11,048)|(1,871,383)|(1,920,367)|
|(Losses)/gains<br>on|||||||
|investment<br>assets|||(66,534)||(66,534)|48,562|
|Net income/(expenditure)<br>Transfers<br>between<br>funds|||(909,186)<br>442,246|106,253<br>~442,246)|(802,933)|881,462|
|Net movement<br>in funds|||(466,940)|(335,993)|(802,933)|881,462|
|Reconciliation<br>offunds|||||||
|Total funds brought|forward||5,944,984|469,907|6,414,891|5,533,429|
|Total funds carried|forward|22|5,478,044|133,914|5,611,958|6,414,891|





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||Recogni|sed Gain|s and Losses|)||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|
||||funds|funds|2019|
|Comparative<br>figures||Note|8|8|6|
|Income and Endowments|from:|||||
|Donations<br>and legacies||3|251,009|1,307,301|1,558,310|
|Charitable<br>activities||4|1,170,202||1,170,202|
|Investment<br>income||5|24,755||24,755|
|Total income|||1,445,966|1,307,301|2,753,267|
|Expenditure<br>on:||||||
|Raising funds<br>Charitable<br>activities||6<br>3|(97,174)<br>~1,636,628|~386,585|(97,174)<br>~13.823,183|
|Total expenditure|||(1,733,802)|(186,565)|(1,920,367)|
|(Losses)/gains<br>on investment|assets||48,562||48,562|
|Net income/(expenditure)|||(239,274)|1,120,736|881,462|
|Transfers<br>between<br>funds|||751,067|(751,067)||
|Net movement<br>in funds|||511,793|369,669|881,462|
|Reconciliation<br>offunds||||||
|Total funds brought<br>forward|||5,433,191|100,238|5,533,429|
|Total funds carried forward||22|5,944,984|469,907|6,414,891|





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|||||2020|2019|
|---|---|---|---|---|---|
||||Note|E|E|
|Fixed Assets||||||
|Tangible assets|||14|5,153,284|5,231,468|
|Investments|||15|461,165|622,654|
|||||5,614,449|5,854,122|
|Current assets||||||
|Stocks|||16|13,882|15,168|
|Debtors|||17|95,708|262,947|
|Cash at bank and|in hand||18|232,443|438,553|
|||||342,033|716,668|
|Creditors: Amounts<br>falling due within one year<br>Net current (liabilities)/assets|||19|~1344,524<br>~2,491|(155,899)<br>560,769|
|Net assets||||5,611,958|6,414,891|
|Funds ofthe charity:||||||
|Restricted funds||||133,914|469,907|
|Unrestricted<br>income||funds||||
|Designated<br>Funds||||4,908,669|5,590,327|
|General Funds||||311,131|92,881|
|Revaluation<br>reserve||||258,244|261,776|
|Total unrestricted|funds|||5,478,044|5,944,984|
|Total funds|||22|5,611,958|6,414,891|






## 


|Statement ofC|ash Flows|for the Year|Ended 3|0November<br>|2020|
|---|---|---|---|---|---|
|||||2020|2019|
||||Note|6|6|
|Cash flows from operating|activities|||||
|Net movement<br>in funds||||(802,933)|881,462|
|Adjustments<br>to cash flows|from noncash|items||||
|Depreciation|||7|212,719|212,916|
|Revaluation<br>of investments||||(331)|(48,562)|
|Interest receivable<br>on bank deposits<br>Dividends<br>receivable<br>from other listed investments||||(1,151)<br>~9,754)|(956)<br> ~123,799|
|||||(598,450)|1,021,061|
|Working capital adjustments||||||
|Decrease/(increase)<br>in stocks|||16|1,286|(1,522)|
|Decrease/(increase)<br>in debtors|||17|167,239|(118,138)|
|Increase<br>in creditors<br>Increase/(decrease)<br>in deferred<br>income|||19<br>19|44,985<br>143,340|6,915<br> ~20,33)|
|Net cash flows from operating|activities|||~24),300|887,985|
|Cash flows from investing<br>activities||||||
|Interest receivable<br>and similar|income||5|1,151|956|
|Purchase oftangible<br>fixed assets|||14|(134,535)|(743,421)|
|Purchase ofinvestments|||15|(566,458)|(19,435)|
|Sale of investments|||15|728,278||
|Dividends<br>receivable<br>from other listed investments|||5|6,754|23,799|
|Net cash flows from investing|activities|||35,190|~738)01)|
|Net (decrease)/increase<br>in cash and cash equivalents||||(206,110)|149,884|
|Cash and cash equivalents<br>at|1 December 2019/2018|||438,553|288,669|
|Cash and cash equivalents<br>at|30 November|2020 /2019||232,443|438,553|





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|||||Unrestricted||||
|---|---|---|---|---|---|---|---|
|||||funds||||
||||||Restricted|Total|Total|
|||||General|funds|2020|2019|
||||||8|||
|Donations|and|legacies;||||||
|Donations||||381,338|117,301|498,639|1,513,636|
|Legacies||||6,000||6,000|22,243|
|Grants,<br>including|||capital grants;|||||
|Government||grants||282,444||282,444||
|Regular<br>giving||and capital||||||
|donations||||27,703||27 733|22,431|
|||||697,485|117,301|814,786|1,558,310|



## 




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|||||Unrestricted|||
|---|---|---|---|---|---|---|
|a)Costs of|generating|donations|and legacies|funds|||
||||||Total|Total|
|||||General|2020|2019|
|||||6||6|
|Staff Costs||||83,184|83,184|73,036|
|Fundraising|costs|||8,381|8,381|19,774|
|||||91,565|91,565|92,810|



## 

|b) Investm|ent<br>managem|ent<br>costs||||
|---|---|---|---|---|---|
||||Unrestricted|||
||||funds|||
|||||Total|Total|
||||General|2020|2019|
|||||6||
|Investment|management|costs|1,399|1,399|4,364|
||||1,399|1,399|4,354|





## 

## 

||||||Centre<br>Activities|Marketing<br>Costs|Total 2020|Total 2019|
|---|---|---|---|---|---|---|---|---|
||||||||6||
|Wages and salaries|||||870,027|95,817|965,844|869,518|
|Social security|costs||||61,038|8,629|89,667|65,917|
|Staff pensions|||||42,826|4,801|47,627|43,106|
|Temporary<br>workers|||||1,881||1,861|12,540|
|Staff training|||||31,232||31,232|28,679|
|Activity costs|||||30,182||30,182|53,728|
|Riding costs|||||16,615||16,615|25,542|
|Centre administration|||and|insurance|45,689||45,689|59,539|
|Facility costs|||||241,614||241,814|324,729|
|Other operational||costs|||51,455|15,253|66,708|64,925|
|Audit fee|||||3,500||3,500|5,000|
|Management|accountants|||fees|10,482||10,462|8,020|
|Unallocated<br>irrecoverable||||VAT|34,699||34,699|49,034|
|Depreciation|||||212,719||212,719|212,916|
||||||1,653,919|124,500|1,778,419|1,823,193|





|8<br>Analysis<br>ofgovernance|8<br>Analysis<br>ofgovernance|end support|end support|coats|||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Support|casts allocated to|cherltahle|actlvltlea||||||||
|||||||||Other|||
|||||Finance||ftdmlnlatraaon|Premium|support|Totrrl|Total|
|||||costs|stall coats|Go&L|coals|costa|2020|2019|
|||||6|6|6|6|2||6|
|Centra actlvhy fess<br>Marketing<br>costs||||1,932<br>~f 932|73,029<br>109247<br>182,778|11,906<br>11,905|'125,184<br>128,1S4|50,006<br>16,253<br>06,250|203,058<br>~124500<br>387,558|287,872<br>137,580<br> ~425 461|





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||||||||Unrestricted|||
|---|---|---|---|---|---|---|---|---|---|
||||||||funds|||
|||||||||Total|Total|
||||||||General<br>8|2020|2019<br>f|
|Audit and accountancy||||fees||||||
||Audit ofthe|financial||statements|||3,500|3,500|5,000|
||Management||accountants||fees||10,462|10,462|8,020|
||||||||13,962|13,962|13,020|
|9|Net incoming/outgoing||||resources|||||
|Net (outgoing)/incoming||||resources for||the year include:||||
|||||||||2020|2019|
|||||||||8||
|Audit fees||||||||3,500|5,000|
|Other non-audit|||services - management|||accountants||10,462|8,020|
|Depreciation||of|fixed assets|||||212,719|212,916|





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|11Staff costs<br>The aggregate<br>payroll costs were as follows:|||
|---|---|---|
||2020|2019|
|Staffcosts during the year were:|||
|Wages and salaries|1,039,045|933,727|
|Social security costs|76,061|71,644|
|Pension costs|51,216|46,206|
||1,166,322|1,051,577|



|during the|year was as foll|ows:||||||
|---|---|---|---|---|---|---|---|
|||||2020||2019||
|||||No||No||
|Charitable|activities||||||44|
|Fundraising|and marketing||||||8|
||||||61||52|
|The number|ofemployees|whose emoluments|fell within the following|bands was:||||
|||||2020||2019||
|||||No||No||
|670001 - 6|80000||||1||1|



## 

|12Auditors'<br>remuneration||||
|---|---|---|---|
|||2020|2019|
|Audit ofthe financial statements||3,500|5,000|
|Other fees to management<br>accountants||||
|All other non-audit<br>services - management|accountants|10,462|8,020|





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||||Furniture|||
|---|---|---|---|---|---|
|||Land and|and|Motor||
|||buildings|equipment|vehicles|Total|
|Cost||||||
|At 1 December|2019|7,259,826|231,191|328,809|7,819,826|
|Additions<br>Disposals||95,519|18,448<br>(31,021)|20,568|134,535<br>~31,021|
|At 30November|2020|7,355,345|218,618|349,377|7,923,340|
|Depreciation||||||
|At 1 December|2019|2,194,447|131,048|262,863|2,588,358|
|Charge for the year<br>Eliminated<br>on disposals||139,434|43,723<br>~i33,021|29,562|212,719<br>~31,0213|
|At 30November|2020|2,333,881|143,750|292,425|2,770,056|
|Net book value||||||
|At 30 November|2020|5,021,464|74,868|56,952|5,153,284|
|At 30 November|2019|5,065,379|100,143|65,946|5,231,468|





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|||||2020|2019|
|---|---|---|---|---|---|
|Unrealised|surplus|on revaluation||353,205|353,205|
|Less: Accumulated||depreciation|as at 30 November|(94,961)|(91,429)|
|||||258,244|261,776|





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|15Fixed asset|investments|||||
|---|---|---|---|---|---|
||||2020||2019|
||||E||E|
|Investments|||461,165||622,654|
|Investments||||||
|||Listed|unlisted|||
|||investments|investments||Total|
|||E|E||E|
|Cost or Valuation||||||
|At 1 December|2019|622,653||1|622,654|
|Revaluation||331|||331|
|Additions||566,458|||566,458|
|Disposals||(728,278)||-|~728,278|
|At 30 November|2020|461,164||1|461,165|
|Net book value||||||
|At 30 November|2020|461,164||1|461,165|
|At 30November|2019|622,653||1|622,654|






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|17Debtors|||
|---|---|---|
||2020|2019|
||6|6|
|Trade debtors|9,689|21,248|
|Prepayments|11,185|41,731|
|VAT recoverable|1,449||
|Other debtors|73,405|199,968|
||95,708|262,947|



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|18Cash and cash equiv|alents|||
|---|---|---|---|
|||2020|2019|
|||E|6|
|Cash at bank||232,443|438,553|
|19Creditors: amounts|falling due within one year|||
|||2020|2019|
|||6|8|
|Trade creditors||39,447|32,189|
|Other taxation and social|security|14,929|20,301|
|VAT payable|||1,056|
|Other creditors||9,341|1,520|
|Accruals||76,521|40,187|
|Deferred income lace below)||204,286|60,646|
|||344,524|155,899|



|||||2020|
|---|---|---|---|---|
|||||6|
|Deferred|income at 1 December||2019|60,646|
|Resources deferred||in the period||168,505|
|Amounts|released|from previous|periods|524 6666S5|
|Deferred|income at 30 November||2020|204,286|





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|Total future<br>minimum<br>lease payments<br>under non-can|cellable<br>operating<br>leases are as foll|ows:|
|---|---|---|
||2020|2019|
|||5|
|Land and buildings|||
|Within one year|2,501|2,502|
|Between one and five years|7,504|10,004|
|After five years|35||
||10,040|12,542|



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|22 Funds||||aalance st 1||||Diner recognised|aalance st 30|
|---|---|---|---|---|---|---|---|---|---|
|||||December 2019|Income|Expenditure|Transfers|(losses)/gains|November<br>2020|
|||||2|8|2|8||2|
|Unrestricted<br>funds||||||||||
|General||||||||||
|General Funds||||92,681|1,017,683|(1,636,955)|904,056|(66,534)|311,131|
|Designated||||||||||
|Trustees'<br>Contingency||Reserve||580,000|||(560,000)|||
|Fixed Asset Reserve||||4,969,692||(212,719)|138,067||4,895,040|
|Revaluation<br>Reserve<br>Development<br>and Improvement|||Reserve|261,776<br>40,636||~10S8I|(3,532)<br> ~16345||258,244<br>IS.629|
|||||5,852,103||~(223.380|~461.810||5.168.913|
|Total Unrestricted|funda||||||||5.478.044|
|Restricted funda||||||||||
|Friends of Calvert|Trust|||36,235|21,071|(3,947)|(53,359)|||
|Special Enabling|Fund|||62,495|44,228||(18,514)||90,209|
|Restricted<br>Donations<br>Calvert Reconnemions<br>Total reedlcted<br>funds||Fund<br>Project|Fund|31,229<br>339948<br>469,907|43,246<br>8757<br>117,S01|(7,101)<br> ~11048|(23,668)<br>~348,705<br>~442.246||43,705<br>133,914|
|Total funds||||6,414,891|1,134,984|~1,87L383||||





## 

|22 Funds (continued)|||aalance at1|Insomlng|Resources||Other recognised|Satanas at 30|
|---|---|---|---|---|---|---|---|---|
||||December 2018|resources|expended|Transfers|gains/(losses)|November<br>2019|
|Comparative<br>figures|||5|8|2||2|5|
|unrestricted<br>funda|||||||||
|Glmeral|||||||||
|General<br>Funds|||78,815|1,445,966|(1,520,759)|40,297|48,562|92,881|
|Designated|||||||||
|Trustees'<br>Contingency|Reserve||585,000|||15,000||580,000|
|Fixed Asset Resene|||4,435,655||(212,916)|748,953||4,969,692|
|Revslualion<br>Reserve|||265,308|||(3,532)||261,776|
|Calvert Reconnections<br>Project <br>Development<br>snd Improvement||Fund<br>Reserve|16,413<br>72.000||~127|(16,413)<br> ~31,238||40,635|
||||5,354,378||~213,043|710,770||5,852,103|
|Total unmstrleted<br>funds|||5,433,191|1,445,966|~(,733,802|751,067|48,562|5,944,984|
|Restricted funds|||||||||
|Friends ofCalvert Trust|||18,940|17,295||||36,235|
|Special Enabling<br>Fund|||53,234|83,126||(73,865)||62,495|
|Restrided<br>Donafions<br>Calvert Reconneclions|Fund<br>Project|Fund|27,964<br>100|51,892<br>1,154,988|(40,830)<br> ~145,735|(7,797)<br> ~66940||31,229<br>339,948|
|Total restricted<br>funds|||100,238|~1,307301|~(8856S|~75L007||469,907|
|Total flrnds|||5,533,429|~2,753|~1920367||48,562|6,414,891|





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|||||Unrestricted|funds|||
|---|---|---|---|---|---|---|---|
|||||||Restricted|Total funds|
|||||General|Designated|funds|2020|
|||||8|5|8|6|
|Tangible|fixed assets||||5,153,284||5,153,284|
|Fixed asset||investments||461,165|||461,165|
|Current <br>Current|assets<br>liabilities|||177,512<br>~327,549|15,310<br> ~7,887|149,211<br>~15,297|342,033<br>~344,524|
|Total net assets||||311,131|5,166,913|133,914|5,611,958|
|||||Unrestricted|funds|||
|||||||Restricted|Total funds|
|||||General|Designated|funds|2019|
||||||5||6|
|Tangible|fixed assets||||5,231,468||5,231,468|
|Fixed asset investments||||2,019|620,635||622,654|
|Current <br>Current|assets<br>liabilities|||246,761<br>~755,899||469,907|716,668<br>(155,899)|
|Total net assets||||92,881|5,852,103|469,907|6,414,891|
|24Analysis||ofnet funds||||||
||||||||At 30|
|||||At 1 December|||November|
||||||2019|Cash flow|2020|
||||||5|8|8|
|Cash at|bank and||in hand||438,553|(206,110)|232,443|
||||||438,553|(206,110)|232,443|
||||||||At 30|
|||||At 1 December|||November|
||||||2018|Cash flow|2019|
||||||6|8||
|Cash at|bank|and|in hand||288,669|149,884|438,553|
||||||288,669|149,884|438,553|





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