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|||Page|
|---|---|---|
|Report ofthe Trustees|||
|Independent
auditor's|report to the Trustees||
|Statement offinancial|activities||
|Statement offinancial|position||
|Statement ofcash flows||10|
|Statement ofaccounting
policies|||
|Notes to the financial|statements|14|
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|Trustees||A A Reeves||
|---|---|---|---|
|||Mrs SRBeard||
|||M W Thowless-Reeves||
|Auditors||RSM UK Audit|LLP|
|||StPhilips Point||
|||Temple Row||
|||Birmingham||
|Bankers||Handelsbanken|pic|
|||1 Lakeside||
|||Festival Park||
|||Stoke on Trent||
|Investment|managers|Sorbus Partners|LLP|
|||41n Enstgnte
Street||
|||Stafford||
|Registered|office|The Bradshaws||
|||Codsall||
|||Staffordshire||
|Legal advisers||Freeths LLP||
|Charity||271526||
|||EW40151||
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||||||2020|2019|
|---|---|---|---|---|---|---|
|||Note|Endowment|Unrestricted|Total|Total|
||||Fund|funds|||
|Income|||||||
|Investment
income||1(a)||92,257|92,257|145,805|
|Total income||||92,257|92,257|145,805|
|Expenditure|||||||
|Cost ofraising funds:|||||||
|Investment
management|costs|1(b)|19,678||19,678|19,479|
|Facilities and accountancy|costs|1(b)|7,875|12,504|20,379|22,471|
|Expenditure
on charitable|activities||||||
|Grants paid||1(b)||||296,000|
|Grants committed||1(b)||72,000|72,000|56,000|
|Total Expenditure|||(27,553)|(84,504)|(112,057)|(393,950)|
|Net income/expenditure|||||||
|before gains|||||||
|and losses on investments|||(27,553)|7,753|(19,800)|(248,145)|
|Net gains/losses
on investments|||(82,286)||(82,286)|604,499|
|Net income and net movement||in funds|(109,839)|7,753|(102,086)|356,354|
|Reconciliation
offunds:|||||||
|Brought forward|||4,840,482|112,495|4,952,977|4,596,623|
|Total funds ofthe Endowment|||||||
|carried forward|||4,730,644|120,248|4,850,892|4,952,977|
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||||Note|Capital|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||Endowment||||
|Fixed assets||||||||
|Investments|||3|4,729,423||4,729,423|4,829,786|
|Current assets||||||||
|Cash at Bank||||9,661|I.99,123|208,784|192,931|
|Current
liabilities||||||||
|Creditors
amounts||falling|4|||||
|due within
one|year||||(78,875)|(87,315)|(69,740)|
|Net current assets||||1,221|120,248|121,469|123,191|
|Net assets|||6|4,730,644|120,248|4,850,892|4,952,977|
|The funds ofthe charity:||||||||
|Capital Endowment||||4,730,644||4,730,644|4,840,482|
|Unrestricted|||||120,248|120,248|112,495|
|Total charity|funds|||4,730,644|120,248|4,850,892|4,952,977|
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||||Note|2020|2019|
|---|---|---|---|---|---|
|CASH FLOWS FROM OPERATING ACTIVITIES:||||||
|Net income/
(expenditure)
for the reporting|period|||(102,086)|356,354|
|Investment/
(gains)/losses||||82,286|(354,499)|
|Increase/(decrease)
in creditors||||17,575|(23,153)|
|Investment
income received||||(92,257)|(145,805)|
|NET INCOME USED IN OPERATING ACTIVITIES||||(94,482)|(167,103)|
|CASH FLOWS FROM INVESTING ACTIVITIES:||||||
|Investment
income:||||||
|Interest received||||3&6|301|
|Dividends
received||||58,669|93,027|
|Rent received||||33,233|52,477|
|Proceeds from sale ofinvestments||||558,685|323,309|
|Purchase ofinvestments||||(540,608)|(244,451)|
|NET CASH GENERATED FROM INVESTING ACTIVITIES||||110,335|224,663|
|INCREASE IN CASH AND CASH EQUIVALENTS||||||
|IN THE REPORTING PERIOD||||15,853|57,561|
|Cash and cash equivalents
at the beginning|ofthe reporting|period||192,931|135,370|
|CASH AND CASH EQUIVALENTS AT|THE END|||||
|OF THE REPORTING PERIOD||||208,784|192,931|
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|1.|Statement offinancial|activities|||
|---|---|---|---|---|
|a)|Investment
income||2020|2019|
||Unrestricted
funds:||||
||Bonds||7,636|8,647|
||Equities||46,644|68,283|
||Property
(funds)||4,744|16,398|
||Property (direct)||33,233|52,477|
||||92,257|145,805|
|b)|Total resources expended||2020|2019|
||||Support||
||||Costs|Total|
||Unrestricted:||||
||Charitable
activities:||||
||Grants||72,000|352,000|
||Facilities/accountancy|costs|12504|14808|
||||84,504|366,808|
||Endowment:||||
||Investment
management|and|||
||custodial costs||19,678|19,479|
||Facilities/accountancy|costs|7,875|7,663|
||||27,553|27,142|
||Total Resources expended||112,057|393,950|
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|2.|Net movement|in funds|||
|---|---|---|---|---|
||||2020|2019|
||Net movement|in funds for the financial year is stated|||
||after charging:||||
||Auditor 's remuneration||6,840|6,780|
||Indemnity
insurance ofTrustees||942|942|
|||||Prop|Prop|Total|
|---|---|---|---|---|---|---|
||Cash|Bonds|Equities|(funds)|(direct)||
|At beginning ofyear|269,461|341,321|1,991,773|127,231|2,100,000|4,829,786|
|Gains/(losses)||(925)|(78,081)|(3,280)||(82,286)|
|Additions||58,092|482,516|||540,608|
|Di sposa la|||||||
|at crying
value|(174,398)||(384,287)|||(558,685)|
|at end ofyear|95,063|398,488|2,011,921|123,951|2,100,000|4,729,423|
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|Amounts|falling due within|one year|||
|---|---|---|---|---|
||||2020|2019|
||||Total|Total|
|Accruals|and deferred income||15,315|13,740|
|Accruals|for grants payable|in 2020 (2019)|72,000|56,000|
|Total|||87,315|69,740|
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|Analysis of|charitab|le
funds|||||
|---|---|---|---|---|---|---|
|||||||Carried|
|||Bfwd|Income|Expenditure|Gains / losses|forward|
|Endowment||4,840,482||(27,553)|(82,286)|4,730,644|
|Unrestricted|funds|112,495|92,257|(84,504)||120,248|
|||4,952,977|92,257|(112,057)|(82,286)|4,850,892|
|6.|Analysis ofnet assets between|funds||||
|---|---|---|---|---|---|
||Investments||Cash at|Creditors|Net assets|
||||bank|||
||Endowment|4,729,423|9,661|(8,440)|4,730,644|
||Unrestricted||199,123|(78,875)|120,248|
|||4,729,423|208,784|(87,315)|4,850,892|
##
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|Grants||
|---|---|
|1972 - 1990|1,157,476|
|1991-2007|2,516,000|
|2008 - 2020|2,170,761|
||5,844,237|