## ## ## |||||Page| |---|---|---|---|---| |Legal and|administrative||information|1-3| |Chair's statement||||4-5| |Trustees'|report|||6-13| |Statement|of trustees'||responsibilities|14| |Independent
auditor's||report||15 - 18| |Statement|of financial|aclivities||19-20| |Balance sheet||||21 —22| |Statement|ofcash flows|||23| |Notes to the financial||statemenls||24 -45| |Appendix|1|||46-47| ## ## |Trustees||Giles H Mounsey-Heysham,|Giles H Mounsey-Heysham,|Chair||| |---|---|---|---|---|---|---| |||William
R Bell||||| |||Corinna
Cartwright|||(Resigned|4 May 2021)| |||Julian J Handy||||| |||Claire T Hensman||||| |||Martin
G Mullin||||| |||Christine
Sheldon||||| |||lan S Lowthian||||| |||William TS Braithwaite|QC|||| |||Heather
A Batey||||| |||James W Fryer-Spedding||||| |||Jane ESaxon|||(Resigned|26 August 2021)| |||Anthony
D Glynn||||| |||Emily J Flynn|||(Appointed|27 November| ||||||2021)|| |||Victoria
H D Notman|||(Appointed|27 November| ||||||2021)|| |||Judith Gate|||(Appointed|27 November| ||||||2021)|| |||Anne
L Dunn|||(Appointed|27 November| ||||||2021)|| |Secretary||Anthony
D Glynn||||| |Other Officers||Sean Day, Centre Director||||| |Charity Number||270923||||| |Company|Number|01240160||||| |Country|ofIncorporation|England
and Wales||||| |Principal|Office|Little Crosthwaite||||| |||Underskiddaw||||| |||Keswick||||| |||Cumbria||||| |||CA12 4QD||||| |Auditor||David Allen||||| |||Chartered
Accountants|and|Statutory|Auditors|| |||Dalmar House||||| |||Barras Lane Estate||||| |||Dalston||||| |||Carlisle||||| |||Cumbria||||| |||CA5 7NY||||| ## ## |Bankers||Barclays Bank ptc|| |---|---|---|---| |||Keswick Branch|| |||Markel Square|| |||Keswick|| |||Cumbria|| |||CA12 5BE|| |||CAF Bank|| |||25 Kings
Hill Avenue|| |||Kings
Hill|| |||West Mailing|| |||Kent|| |||ME194JQ|| |Investment|Advisors|Sarasin and Partners|LLP| |||Juxon House|| |||100St. Paul's Churchyard|| |||London|| |||EC4M BBU|| ## ## |Finance Committee|Finance Committee||Martin G Mullin,
Chair|| |---|---|---|---|---| ||||Giles H Mounsey-Heysham|| ||||Anthony
D Glynn|| ||||Philip Stout, Co-opted|Member| ||||Stuart Coe, Co-opted|Member| |Audit Committee|||lan S Lowthian,
Chair|| ||||Martin
G Mullin|| ||||Roger Cooke, Co-opted Member|| ||||Steve Ward, Co-opted|Member| |Business Development||Committee|Christine
Sheldon,
Chair|| ||||Giles H Mounsey-Heysham|| ||||William R Bell|| ||||Janaki Spedding,
Co-opted
Member|| |Operations|Committee||Julian J Handy,
Chair|| ||||Giles H Mounsey-Heysham|| ||||lan S Lowthian|| ||||Rosemary
Riley, Co-opted Member|| |Nominations|Committee||William R Bell, Chair|| ||||Giles H Mounsey-Heysham|| ||||Claire Hensman|| ||||James Fryer-Spedding|| |Calvert Reconnectlons||Committee|William TSBraithwaite|QC, Chair| ||||Giles H Mounsey-Heysham|| ||||William R Bell|| ||||Christine
Sheldon|| ||||Martin G Mullin|| ||||Heather A Batey|| ||||Fiona Nixon, Co-opted|Member| ||||Caroline
Evans, Co-opted Member|| |Emeritus Trustees|||John Fryer-Spedding|CBE| ||||Roger Cooke, Vice President|| ||||John Wood|| ||||Tony Welton|| ||||Terry Lansbury|| ||||Michael Toulmin|| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Current
financial
year|Current
financial
year||||||||| |---|---|---|---|---|---|---|---|---|---| ||||||Unrestricted|Designated|Restricted|Total|Total| ||||||funds|funds|funds||| ||||||2021|2021|2021|2021|2020| |||||Notes|f|6|f|6|6| |I come a d Endow||ents|||||||| |Donations
and|legacies|||3|1,433,433||274,708|1,708,141|814,786| |Charitable
activities||||4|751,697|||751,697|312,293| |Investment
income||||5|7,726|||7,726|7,905| |Other income||||6|218,936|||218,936|| |Total income|||||2,411,792||274,708|2,686,500|1,134,984| |~E*
d tt|||||||||| |Raising funds|||||104,969|||104,969|92,964| |Charitable
activities|||||1,779,008|262,261|56,067|2,097,336|1,778,419| |Total expenditure|||||1,883,977|262,261|56,067|2,202,305|1,871,383| |Gains/(losses)|on investment||||||||| |assets||||15|3,806|||3,806|(66,534)| |Net income/(expenditure)|||before||||||| |transfers|||||531,621|(262,261 )|218,641|488,001|(802,933)| |Gross transfers|between||funds||(842,752)|998,491|(155,739)||| |Net income/(expenditure)|||||(311,131)|736,230|62,902|488,001|(802,933)| |Fund balances|at 1 December 2020||||311,131|5,166,913|133,914|5,611,958|6,414,891| |Fund balances|at 30 November||||||||| |2021||||28 - 29||5,903,143|196,816|6,099,959|5,611,958| ## ## ## ## |Prior financial year||||||||| |---|---|---|---|---|---|---|---|---| ||||||Unrestricted|Designated|Restricted|Total| ||||||funds|funds|funds|| ||||||2020|2020|2020|2020| |||||Notes|6|f|6|6| |Income and Endowments||||||||| |Donations
and legacies|||||697,485||117,301|814,786| |Charitable
activibes|||||312,293|||312,293| |Investment
income|||||7,905|||7,905| |Total income|||||1,017,683||117,301|1,134,984| |E
di||||||||| |Raising funds|||||92,964|||92,964| |Charitable
activities|||||1,543,991|223,380|11,048|1,778,419| |Total expenditure|||||1,636,955|223,380|11,048|1,871,383| |Gains/(losses)
on investment||assets||15|(66,534)|||(66,534)| |Net income/(expenditure)||before|transfers||(685,806)|(223,380)|106,253|(802,933)| |Gross transfers
between|funds||||904,056|(461,810)|(442,246)|| |Net income/(expenditure)|||||218,250|(685,190)|(335,993)|(802,933)| |Fund balances at 1 December 2019|||||92,881|5,852,103|469,907|6,414,891| |Fund balances at 30 November|||2020|28-29|311,131|5,166,913|133,914|5,611,958| ## ## ## ||||||Notes|2021
f||2020
f|| |---|---|---|---|---|---|---|---|---|---| |Fixed assets|||||||||| |Tangible assels|||||17||5,052,002||5,153,284| |Inveslments|||||18||869,722||461,165| ||||||||5,921,724||5,614,449| |Current assets|||||||||| |Stocks|||||20|13,526||13,882|| |Deblcrs|||||21|122,340||95,708|| |Cash at bank and||in|hand|||495,923||232,443|| |||||||631,789||342,033|| |Creditors:|amounts||falling|due within|||||| |one year|||||23|(367,687)||(344,524)|| |Net current|assets/(liabilities)||||||264, 102||(2,491 )| |Total assets less||current||liabilities|||6,185,826||5,611,958| |Creditors:|amounts||falling due after||||||| |more than|one year||||24||(85,867)||| |Net assets|||||||6,099,959||5,611,958| |Funds ofthe charity:|||||||||| |Income funds|||||||||| |Restricted|funds||||28||196,816||133,914| |Unrestricted|funds||||||||| |Revaluation|reserve||||29||254,712||258,244| |Designated|funds||||29||5,648,431||4,908,669| |General
unrestricted|||funds||||||311,131| ||||||||6,099,959||5,611,958| ## ## ## ## ## ## ||||||2021||2020|| |---|---|---|---|---|---|---|---|---| |||||Notes|6||6|| |Cash flows from operating||activities||||||| |Cash generated
from/(absorbed|||by)|31||||| |operations||||||722,291||(241,300)| |Investing|activities|||||||| |Purchase|of tangible
fixed assets|||17|(160,979)||(134,535)|| |Purchase|of investments|||18|(806,188)||(566,458)|| |Proceeds|on disposal ofinvestments|||18|401,430||728,278|| |Investment|income received|||5|7,726||7,905|| |Net cash|(used in)/generated||from|||||| |investing|activities|||||(558,011)||35,190| |Financing|activities|||||||| |Proceeds/(repayment)
of bank|||loans|22|99,200|||| |Net cash|generated
from/(used
in)|||||||| |financing|activities|||||99,200||| |Net increase/(decrease)
in||cash and||cash||||| |equivalents||||||263,480||(206,110)| |Cash and|cash equivalents|at|beginning|ofyear||232,443||438,553| |Cash and|cash equivalents|at end of||year||495,923||232,443| ## ## |The Trust operates|from three main centres:|| |---|---|---| |Calvert Lakes|Calvert Reconnections|Calvert Stables| |Little Crosthwaite|Old Windebrowe|Old Windebrowe| |Keswick|Keswick|Keswick| |Cumbria|Cumbria|Cumbria| |CA12 4QD|CA12 4NT|CA12 4NT| ## ## ## ## ## ## ## ## |Depreciation
is recognised
so as|to write|off the cost or valuation|of|assets less their residual|values|over| |---|---|---|---|---|---|---| |their useful
lives on the following|bases:|||||| |Freehold
properly
(buildings)||Over the remaining|life|of the building||| |Freehold properly
(installations)||5-10%per annum|straight
line basis|||| |Leasehold
property
(buildings)||Over the period of|each|lease||| |Leasehold
property
(installlations)||10-20%per annum|straight
line basis|||| |Furniture
and equipment||20% per annum
straight||line basis||| |Motor vehicles||20% per annum
straight||line basis||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||Unrestricted|Restricted|Total|Total| |---|---|---|---|---|---|---| ||||funds|funds||| ||||2021|2021|2021|2020| |||||E|E|E| |Donations||and gifts|965,935|274,708|1,240,643|488,639| |Legames|receivable||100,000||100,000|6,000| |Government||granls|316,822||316,822|292,444| |Regular|giving and capital donations||50,676||50,676|27,703| ||||1,433,433|274,708|1,708,141|814,786| ## ||||Unrestricted|Unreslricled| |---|---|---|---|---| ||||funds|funds| ||||2021|2020| ||||E|| |Calvert|Lakes fee income||495,167|312,293| |Calvert|Reconnections|fee income|256,530|| ||||751,697|312,293| ## ||||Unrestricted|Unrestricted| |---|---|---|---|---| ||||funds|funds| ||||2021|2020| ||||E|E| |Dividends|receivable|from listed investments|6,701|6,754| |Interesl receivable|||1,025|1,151| ||||7,726|7,905| ## ## ## ||||||Unrestricted|Total| |---|---|---|---|---|---|---| ||||||funds|| ||||||2021|2020| ||||||E|E| ||Business interruption||insurance|payout|218,936|| |7|Raising funds|||||| ||||||Unrestricted|Unrestricted| ||||||funds|funds| ||||||2021|2020| ||||||E|E| ||Costs of|eneratin|donations|and e acies||| ||Fundraising|costs|||21,879|8,381| ||Staff costs||||81,071|83,184| ||Costs ofgenerating||donations|and legacies|102,950|91,565| ||Investment|management|||2,019|1,399| ||||||104,969|92,964| |mDN
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0|| |0Z|0|||||||||||||||||| ## ## |10|Governance|costs||||||||| |---|---|---|---|---|---|---|---|---|---|---| ||||||||||2021|2020| ||||||||||6|| ||Audit fees||||||||5,600|3,500| ||Managemenl|accountanls|fees||||||11,843|10,462| ||||||||||17,443|13,962| |11|Net movement
in funds||||||||2021|2020| ||||||||||6|6| ||Net movement|in funds is stated|||after|charging/(crediting)||||| ||Audit fees||||||||5,600|3,500| ||Management|accountanls|fees||||||11,843|10,462| ||Depreciation|ofowned
tangible||fixed||assets|||262,261|212,719| |12|Auditor's
remuneration|||||||||| ||The analysis|of auditor's
remuneration||||is|as follows:|||| ||Fees payable|to the charitable|||company's|||auditor:|2021|2020| ||||||||||F|6| ||Audit of the charitable
company's||||financial||statements||5,600|3,500| ||Other fees to management||accountants|||||||| ||All other non-audil
services||- management|||||accountants|11,843|10,462| ## ## ## ## |The averag
year was:|e
monthly
headcount
number
of employe|es
(including
senior
management
team)|during
the| |---|---|---|---| |||2021|2020| |||Number|Number| |Charitable|activities|56|54| |Fundraising|and markeling|6|7| |Total||62|| |Employment
costs||2021
f|2020
6| |Wages and|salaries|1,161,343|1,039,045| |Social security coals||89,741|76,061| |Other pension costs||57,393|51,216| |||1,308,477|1,166,322| |2021|2020| |---|---| |Number|Number| ## |||||Unrestricted|Unrestricted| |---|---|---|---|---|---| |||||funds|funds| |||||2021|2020| |||||6|| |Revaluation|of investments||- unrealised|3,799|331| |Realised gain/(loss)||on sale|of investments|7|(66,865)| |Net gain/ (loss) on||investments||3,806|(66,534)| ## ## ## ## |Tangible fixed assets|Tangible fixed assets||||||| |---|---|---|---|---|---|---|---| ||||Freehold
land|Leasehold|Furniture
and Motor|vehicles|Tots I| ||||and buildings|land and|equipment||| |||||buildings|||| |Cost or valuation|||||||| |At 1 December 2020|||6,901,521|453,824|218,618|349,377|7,923,340| |Additions|||51,272|7,173|102,534||160,979| |Disposals|||||(7,253)||(7,253)| |At 30 November|2021||6,952,793|460,997|313,899|349,377|8,077,066| |Depreciation
and impairment|||||||| |At 1 December 2020|||2,067,942|265,939|143,750|292,425|2,770,056| |Depreciation
charged||in the year|143,397|21,952|62,780|34,132|262,261| |Eliminaled
in respecl ofdisposals|||||(7,253)|-|(7,253)| |At 30 November|2021||2,211,339|287,891|199,277|326,557|3,025,064| |Carrying
amount|||||||| |At 30 November|2021||4,741,454|173,106|114,622|22,820|5,052,002| |At 30 November|2020||4,833,579|187,885|74,868|56,952|5,153,284| ## |||||2021f|2020f| |---|---|---|---|---|---| |Unreatised|surplus|on revaluation||353,205|353,205| |Less: Accumulaled||depreciation|as at 30 November|(98,493)|(94,961)| |||||254,712|258,244| ## ## ## ## |Fixed asset inve|stments|||| |---|---|---|---|---| |||Listed|Unlisted|Total| |||investments|investments|| |||6|f|| |Cost or valuation||||| |At 1 December 2020||461,164|1|461,165| |Additions||405,503|400,685|806,188| |Valuation
changes||3,799||3,799| |Disposals||(400,609)|(821)|(401,430)| |At 30 November|2021|469,857|399,865|869,722| |Carrying
amount||||| |At 30 November|2021|469,857|399,865|869,722| |At 30 November|2020|461,164|1|461,165| |19|Financial||instruments|||2021|2020| |---|---|---|---|---|---|---|---| |||||||6|6| ||Carrying|amount of||financial assets|||| ||Instruments||measured|at fair value through|profit or loss|469,857|461,164| ## ## |20|Stocks||||||| |---|---|---|---|---|---|---|---| |||||||2021|2020| |||||||E|E| ||Slocks|||||13,526|13,882| |21|Debtors||||||| |||||||2021|2020| ||Amounts
falling due within one year:|||||E|E| ||Trade debtors|||||46,818|9,689| ||Other debtors|||||29,945|73,405| ||Prepaymenls|and accrued income||||44,514|11,165| ||VAT recoverable|||||1,063|1,449| |||||||122,340|95,708| ||Other debtors|includes|legacies and olher funding|receivable|after the year end.||| |22|Loans and overdrafts||||||| |||||||2021|2020| |||||||E|E| ||Bankloans|||||99,200|| ||Payable
within|one year||||13,333|| ||Payable afler|one year||||85,867|| ## |Creditors: am|ounts
falling due within one year|||| |---|---|---|---|---| ||||2021|2020| |||Notes|E|E| |Bankloans||22|13,333|| |Other taxation|and social secunty||38,054|14,929| |Deferred income||25|186,879|204,286| |Trade creditors|||66,093|39,447| |Other creditors|||1,763|3,236| |Accru ala|||61,565|82,626| ||||367,687|344,524| ## ## ## |||||||||| |---|---|---|---|---|---|---|---|---| |24|Creditors|: amounts||falling due|after more than one year|||| ||||||||2021|2020| |||||||Notes|6|6| ||Bank loans|||||22|85,867|| |25|Deferred|income||||||| ||||||||2021|2020| ||||||||6|6| ||Deferred|income at||1 December|2020||204,286|60,646| ||Amounts|released|from previous||periods||(104,487)|(24,865)| ||Resources deferred|||in the period|||87,080|168,505| ||Deferred|income at||30November|2021||186,879|204,286| ## ## ## |At the reporting
end date the charitable
company
had o
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operating
leases, which|utstanding
commitments
for future
minim
fall due as follows:|um
lease| |---|---|---| ||2021|2020| ||6|6| |Land and buildings||| |Within one year|2,501|2,501| |Between two and five years|5,004|7,504| |In over five years|34|35| ||7,539|10,040| |CI
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U.||||||||||||| ## ## |31|Cash generated
from|operations|operations||||Notes|2021
f|2020f| |---|---|---|---|---|---|---|---|---|---| ||Surplus/(deficit)
for the|year||||||488,001|(802,933)| ||Adjustments
for:||||||||| ||Investment
income recognised||in statement|||of financial|||| ||activities|||||||(7,726)|(7,905)| ||Fair value gains and losses on||investments|||||(3,799)|(331)| ||Depreciation
and impairment
of tangible||||fixed assets|||262,261|212,719| ||Movements
in working|capital:|||||||| ||Decrease
in stocks||||||20|356|1,286| ||(Increase)/decrease
in|debtors|||||21|(26,632)|167,239| ||Increase
in creditors||||||23|27,237|44,985| ||(Decrease)/increase
in|deferred|income||||25|(17,407)|143,640| ||Cash generated
from/(absorbed|||by) operations||||722,291|(241,300)| |32|Analysis
ofchanges|in net funds|||||||| ||||||||At 1 December|Cash flows|At 30 November| ||||||||2020||2021| ||||||||f|f|f| ||Cash at bank and
in hand||||||232,443|263,480|495,923| ||Loans falling due within|one year||||||(13,333)|(13,333)| ||Loans falling due aRer|more than one year||||||(85,867)|(85,867)| ||||||||232,443|164,280|396,723| ## ## ## ## ## ## ## ## ##