OpenCharities

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

2021-12-31-accounts

Page
Reference and Administrative Details ofthe Charity, its Trustees and Advisers
Trustees'
Report		 2-10
Independent Auditor's Report on the Financial Statements 11 - 14
Consolidated Statement of Financial Activities 15
Consolidated Balance Sheet 16-17
Charity Balance Sheet 18-19
Consolidated Statement ofCash Flows 20
Notes to the Financial Statements 21 -47

Trustees D M Sleight, Trustee Trustee (resigned 31 January 2021)
B M Conway, Trustee
P A Tolman, Trustee
D L Rose (appointed 31 January 2021)
Company Registered
Number 01332670
Charity Registered
Number 274605
Registered Office Manor Farm
Church
End
Wood Walton
Huntingdon
Cambridgeshire
PE28 5YU
Company Secretary BJ Garlick
Independent Auditors MHA Maclntyre Hudson
Chartered
Accountants
1 The Forum
Minerva
Business Park
Lynch Wood
Peterborough
PE2 6FT
Bankers NatWest
92 High Street
Huntingdon
PE29 3DT
Solicitors Devonshires
30 Finsbury Circus
London
EC2M 7DT

~ .
~
~		 ~
s
Slovakia ADRA 6,000 Individuals
from hard-to-reach
areas		 will receive $100,000
the COVID vaccine. Others will be trained;
disadvantaged
women
will be provided
with
s chosocial activities
Serbia, Albania, ADRA Vaccination to4,600 Rorna, homeless and socially $100,000
Bulgaria vulnerable
groups
in 3countries
Cape Verde Red Cross Provide wheelchairs forthe needy in Cabo Verde in co- $150,000
operation
with the Red Cross
Kosovo HandiKos Provide wheelchairs
for the needy in Kosovo		 in $70,000
coo eration with the HandiKos
Albania ADRF Provide wheelchairs
forthe needy in Albania		 in $150,000
cooperation
with the ADRF
Romania Motivation Provide wheelchairs
forthe needy in Romania		 in $70,000
Romania cooperation
with the Motivation
Romania
Bosnia Rehab Provide wheelchairs
forthe needy in Bosnia in		 $70,000
Hospital in cooperation
with the Rehab Hospital
in Banja		 Luka
Ban a Luka
Cape Verde AFOSOL Clean drinking
water for neighbourhood
residence		 $400,000
Germany Red Cross Support for Afghan Evacuees at Rhine Ordinance $300,000
Barracks
Albania Red Cross Mobility support for Albania (Wheelchairs, walkers, $178,657
crutches, canes and prosthetics)
Bosnia Muslim
Aid		 Long term partnership
with Muslim
Aid to		 assist poor $152,822
rural families
in Bosnia and Herzegovina
establish
roductive and sustainable
reenhouses
$1$81479

~ ~ ~
-s
London Temple Major Renovation works to London England LDSTemple f563,988
Preston Temple Major Renovation works to Preston England LOSTemple f547,427
fl 111415

Unrestricted Total Total
funds funds funds
2021 2021 2020
Note f000 OOOO FOQO
Income from:
Other trading
activities: Income from trading
subsidiaries 7,233 7,233 6,014
Investments 2 2 37
Other income 211 211 143
Total income 7,446 7,446 6,194
Expenditure
on:
Raising funds:
Trading
activities		 4,632 4,632 4,308
Other 559 559 547
Charitable
donation		 2,007 2,007
Raising funds 12 12 18
Total expenditure 7,210 7,210 4,873
Net income before taxation 236 236 1,321
Taxation (433) (434) (137)
Net movement in funds (197) (197) 1,184
Reconciliation offunds:
Total funds
brought		 forward 104,459 104,459 103,275
Net movement in funds (197) (197) 1,184
Total funds carried forward 104,262 104,262 104,459

2021 2020
Note f000 OOOO
Fixed assets
Intangible
assets		 12 26
Tangible assets 13 70,256 70,523
70,256 70,549
Current assets
Stocks 16 7,265 6,637
Debtors 17 3,192 1,963
Cash at bank and in hand 24 25,312 26,618
35,769 35,218
Creditors: amounts falling due within one
year 18 (1,159) (814)
Net current assets 34,610 34,404
Total assets less current liabilities 104,866 104,953
Provisions
for liabilities		 19 (604) (494)
Total net assets 104,262 104,459
Charity funds
Unrestricted funds:
Share capital 20 10,000 10,000
Unrestricted funds 20 94,262 94,459
Total unrestricted funds 20 104,262 104,459
Total funds 104,262 104,459

2021 2020
Note f000 f000
Fixed assets
Tangible assets 13 623 688
Investments 15 9,450 9,450
Investment
property		 14 133,746 130,944
143,819 141,082
Current assets
Debtors 17 5,125 4,436
Cash at bank and in hand 8,342 10,447
13,467 14,883
Creditors: amounts falling due within one
year 18 (434) (372)
Net current assets 13,033 14,511
Total assets less current liabilities 156,852 155,593
Total net assets 156,852 155,593
Charity funds
Unrestricted funds
Share capital 20 10,000 10,000
Unrestricted income funds 20 80,412 81,766
Revaluation reserves 20 66,440 63,827
Total unrestricted funds 20 156,852 155,593
Total funds 156,852 155,593

2021 2020
Note f000 f000
Cash flows from operating activities
Net cash used
in operating		 activities 23 (692) 2,282
Cash flows from investing activities
Proceeds from the sale oftangible
fixed		 assets 300 265
Purchase of intangible
assets		 (10)
Purchase oftangible
fixed assets		 13 (916) (4,027)
Interest received 4 2 37
I
Net cash used
in investing		 activities (614) (3,735)
Change in cash and cash equivalents in the year (1,306) (1,453)
Cash and cash equivalents at the beginning ofthe year 26,618 28,071
Cash and cash equivalents at the end of the year 24 25,312 26,618

Unrestricted Total Total
funds funds funds
2021 2021 2020
OOOO f000 2000
Interest receivable from interest bearing accounts 37
5. Other incoming resources
Unrestricted Total Total
funds funds funds
2021 2021 2020
OOOO OOOO f000
Profit on disposal oftangible fixed assets 211 211 143

Unrestricted Total Total
funds funds funds
2021 2021 2020
f000 f000 8000
Operating costs of parent company 571 571 565
Trading of subsidiary 4,632 4,632 4,308
Charitable donation 2,007 2,007
7,210 7,210 4,873

Total Total
Staff costs Depreciation Other costs funds funds
2021 2021 2021 2021 2020
OOOO OOOO OOOO OOOO f000
Operating costs of parent
company 491 81 571 565
Trading of subsidiary 1,089 596 2,946 4,632 4,308
Charitable donation 2,007 2,007
Total 2021 1,089 1,087 5,034 7,210 4,873
Total 2020 1,121 1,040 2,712 4,873

Activities
undertaken Support Total Total
directly costs funds funds
2021 2021 2021 2020
OOOO FOOO F000 f.000
Operating costs of parent company 519 52 571 565
Trading of subsidiary 4,619 13 4,632 4,308
Charitable donation 2,007 2,007
Tota I 2021 7,145 65 7,210 4,873
Total 2020 4,811 62 4,873

Operating
costs of Trading of Charitable Total Total
parent subsidiary donation funds funds
2021 2021 2021 2021 2020
f000 f000 f000 OOOO f000
Staff costs 1,089 1,089 1,121
Depreciation 489 596 1,085 1,040
Trading
activities		 (21) 2,934 2,913 2,606
Charitable donation 2,007 2,007
Donations and other 51 51 44
Tota I 2021 519 4,619 2,007 7,145 4,811
Total 2020 515 4,296 4,811
Operating
costs of Trading of Total Total
parent subsidiary. funds funds
2021 2021 2021 2020
f000 f000 OOOO f000
Audit ofSubsidiary 13 13 12
Legal 44 44 42
Audit ofParent 8 8 8
52 13 65 62
Total 2020 50 12 62

2021 2020
OOOO f000
Depreciation oftangible fixed assets owned by the charitable group 1,084 1,040
Amortisation of intangible assets 26 26
Auditor's remuneration - audit 20 19
Auditor's remuneration —other financial services 2 1
Operating lease rentals 4 4
Profit on disposal of fixed assets (211) (143)
Pension cost 260 299
Staff costs
Group Group
2021 2020
OOOO f000
Wages and salaries 751 737
Social security costs 78 85
Other pension costs 260 299
1,089 1,121

Group Group
2021 2020
No. No.
Production and administration 17 17
The average headcount expressed as full-time equivalents was:
Group Group
2021 2020
No. No.
Production and administration 17 17

Group Group
2021 2020
No. No.

re cei ved
remuneration
or pe		 nsion
contributions.
The r		 emunerati on paid is outline d
below:
2021 2020
f000 F.OOO
B M Conway Remuneration 99 106
Company pension contributions
to defined contribution pension
schemes 33 21

Taxation
2021 2020
f.000 f000
Corporation
tax
Tax charge 324 24
Total current tax 324 24
Deferred tax
Origination
and reversal		 of timing differences 109 113
Total deferred tax 109 113
Taxation on net income 433 137
The tax assessed
for the		 year is higher than (2020 - lower than) the standard rate ofcorporation tax in the
UK of 19'%%d (2020 - 19%).The differences are explained below:
2021 2020
f000 E000
Surplus
on ordinary		 activities before tax - AgReserves Limited 1,591 729
Effects of:
Surplus
on ordinary		 activities
multiplied		 by the standard rate ofcorporation
tax in the UK of 19/o (2020 -19/o) 303 139
Other timing differences and disallowed expenditure 21 (115)
Orgination
and reversal		 oftiming differences 109 113
Total tax charge for the year 433 137

12. Intangible
assets
Group
Single farm
payment
entitlements
f000
Cost
At 1 January 2021 435
At 31 December 2021 435
Amortisation
At 1 January 2021 409
Charge for the year 26
At 31 December 2021 435
Net book value
At 31 December 2021
At 31 December 2020 26

Land
Improv. Assets in
Farm Equipment the course
houses 8 and of
Freehold Farm Plant and fixtures constru etio
land buildings machinery and fittings n Total
OOOO OOOO f000 OOOO f000 OOOO
Cost or valuation
At 1 January 2021 53,874 16,792 5,592 925 644 77,827
Additions 274 642 916
Disposals (582) (29) (611)
Transfers
between
classes 541 132 (673)
At 31 December
2021 53,874 17,333 5,284 1,057 584 78,132
Depreciation
At 1 January 2021 4,198 2,876 230 7,304
Charge for the year 456 595 33 1,084
On disposals (513) (513)
At 31 December
2021 4,654 2,958 263 7,875
Net book value
At 31 December
2021 53,874 12,679 2,326 794 584 70,257
At 31 December
2020 53,874 12,594 2,716 695 644 70,523

Farm Assets
in
houses & Equipment the course
Farm fixtures and of
buildings fittings construction Total
f000 OOOO FOOO OOOO
Cost or valuation
At 1 January 2021 47 644 802
Additions 642 642
Disposals (29) (29)
Transfers
between classes		 (673) (673)
At 31 December 2021 47 584 742
Depreciation
At 1 January2021 72 42 114
Charge for the year 4 1 5
At 31 December 2021 76 43 119
Net book value
At 31 December 2021 35 584 623
At 31 December 2020 39 644 688

Freehold
investment
property
OOOO
Valuation
At 1 January 2021 130,944
Surplus
on		 revaluation 2,129
Transfers between classes 673
At 31 December 2021 133,746

Investments '
in
subsidiary
companies
Charity OOOO
Cost or valuation
At 1 January 2021 9,450
At 31 December 2021 9,450
Net book value
At 31 December 2021 9,450
At 31 December 2020 9,450

The following was a subsidiary
undert		 aking
ofthe Charity		 :
Name Company Class of Holding
number shares
Ag Reserves Limited 02947030 Ordinary 100'/o
The financial results ofthe subsidiary for the year were:
Name Income Expenditure Profit for Net assets
f000 f000 the year OOOO
f000
Ag Reserves Limited 7,407 6,028 1,157 23,300

Group Group
2021 2020
f000 FQQO
Cultivations 3,089 2,814
Crops 4,176 3,823
7,265 6,637

Group Group Charity Charity
2021 2020 2021 2020
OOOO f000 OOOO FOOO
Due within one year
Trade debtors 3,076 1,796
Amounts
owed by group undertakings		 5,125 4,315
Other debtors 122 121
Prepayments and accrued income 116 7
Tax recoverable 38
3,192 1,963 5,125 4,436

Group Group Charity Charity
2021 2020 2021 2020
f000 FQOO f000 FQOO
Trade creditors 176 51 95
Amounts
owed		 to group undertakings 209 200
Corporation
tax		 210
Other taxation and social security 457 471 122 151
Other creditors 59 19
Accruals and deferred income 257 273
1,159 814 434 372

2021 2020
f000 f000
At the beginning ofthe year 518 381
Charge for the year (P8L) 86 113
604 494
The deferred tax liability is made up as follows:
Group Group
2021 2020
f000 f000
Accelerated capital allowances 557 457
Other short term differences 47 37
(604) (494)

Statement o ffunds
-cur		 rent year
Balance at
Balance at 1 31
January December
2021 Income Expenditure Taxation 2021
OOOO f000 f000 f000 OOOO
Unrestricted funds
Share capital 10,000 10,000
Reserves 94,459 7,446 (7,210) (433) 94,262
104,459 7,446 (7,210) (433) 104,262

Balance at
Balance at 31
1 January December
2020
FOOO		 Income
FOOO		 Expenditure
f000		 Taxation
f000		 2020
f000
Unrestricted funds
Share capital 10,000 10,000
Reserves 93,275 6,194 (4,873) (137) 94,459
103,275 6,194 (4,873) (137) 104,459
Balance at
Balance at 1 31
January December
2021 Income Expenditure Taxation 2021
FOOO f000 FOOO f000 f000
General funds 104,459 7,446 (7,210) (433) 104,262
Balance at
Balance at 31
1 January December
2020
f000		 Income
FOOO		 Expenditure
f000		 Taxation
FOOO		 2020
FOOO
General funds 103,275 6,194 (4,873) (137) 104,459

Analysis of n et asse ts between
funds
-current ye		 ar
Unrestricted Total
funds funds
2021 2021
F000 f000
Tangible fixed assets 70,256 70,256
Current assets 35,769 35,769
Creditors due within one year (1,159) (1,159)
Deferred tax (604) (604)
Total 104,262 104,262
Analysis of net assets between
funds - prior year
Unrestricted Total
funds funds
2020 2020
f000 f000
Tangible fixed assets 70,523 70,523
Intangible fixed assets 26 26
Current assets 35,218 35,218
Creditors due within one year (814) (814)
Deferred tax (494) (494)
Tl 104,459 104,459

Group Group
2021 2020
f.000 f000
Net
(expenditure)/income		 for the year (as per Statement of Financial
Activities) (197) 1,184
Adjustments
for:
Depreciation
charges		 (Note 13) 1,084 1,040
Amortisation
of intangible		 assets (Note 12) 26 26
Increase
in stocks (Note 16)		 (628) (506)
(Increase)/decrease in debtors (Note 17) (1,267) 812
Increase/(decrease) in creditors (Note 18) 147 (148)
Interest received
(Note 4)		 (2) (37)
Profit on disposal offixed assets (Note 8) (211) (143)
Taxation 433 137
Income taxes paid (77) (83)
Net cash provided
by/(used		 in) operating activities (692) 2,282
24. Analysis ofcash and cash equivalents
Group Group
2021 2020
f000 f000
Cash
in hand		 25,312 26,618
Total cash and cash equivalents 25,312 26,618
25. Analysis
ofchanges		 in net debt
At 1 At 31
January December
2021 Cash flows 2021
f000 f000
FOOO
Cash at bank and in hand 26,618 (1,306) 25,312

Group Group
2021 2020
FOOO F.OOO
Within 1 year