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|||||Page|
|---|---|---|---|---|
|Reference and Administrative||Details ofthe Company,|its Trustees and Advisers||
|Trustees'
Report||||2-9|
|Independent
Auditors'|Report|on the Financial Statements||10-13|
|Statement of Financial|Activities|||14|
|Balance Sheet||||15|
|Statement ofCash Flows||||16|
|Notes to the Financial|Statements|||17-31|
|Trustees|||J C F Hitchins|||||||
|---|---|---|---|---|---|---|---|---|---|
||||SE Gill (appointed|||3|February 2020)|||
||||D M Kemp-Gee|||||||
||||N Colquhoun|(appointed 3 February 2020, resigned|||||11June 2021)|
||||F H R McPhail|||||||
||||JS Monk|||||||
||||L Rutter|||||||
||||D LWhite|||||||
||||N A De Pulford||(appointed|||25 January 2020)||
|Company|registered|||||||||
|number|||01435068|||||||
|Charity registered||||||||||
|number|||278173|||||||
|Registered||office|Hapstead
Village|||||||
||||Buckfastleigh|||||||
||||TQ11 OJN|||||||
|Company|secretary||JWallis-Eade|||||||
|Chief executive officer|||SWhittingham|||||||
|Independent||auditors|Bishop Fleming||LLP|||||
||||Chartered
Accountants|||||||
||||2nd Floor Stratus House|||||||
||||Emperor Way|||||||
||||Exeter Business||Park|||||
||||Exeter|||||||
||||EX13QS|||||||
|Bankers|||National Westminster||||Bank|Pic||
||||South Devon Business||||Centre|||
||||Riviera House,|PO Box69||||||
||||Nicholson
Road|||||||
||||Torquay|||||||
||||Devon|||||||
||||TQ2 7YL|||||||
|Solicitors|||WBW|||||||
||||Church House|||||||
||||Queen Street|||||||
||||Newton Abbot|||||||
||||Devon|||||||
||||TQ12 2QP|||||||
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|||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|
|||||2021|2021|2021|2020|
||||Note||||E|
|Income from:||||||||
|Donations
and|legacies|||21,403|1,375|22,778|37,430|
|Charitable
activities||||1,748,586||1,748,586|1,661,997|
|Investments||||7,809||7,809|12,093|
|Other income||||17,081|106,142|123,223|49,069|
|Total income||||1,794,879|107,517|1,902,396|1,760,589|
|Expenditure
on:||||||||
|Raising funds||||1,716||1,716|1,175|
|Chaditable
activities||||1,707,025|43,348|1,750,373|1,670,004|
|Total expenditure||||1,708,741|43,348|1,752,089|1,671,179|
|Net movement|in funds|||86,138|64,169|150,307|89,410|
|Reconciliation|offunds:|||||||
|Total funds brought||forward||2,656,469|3,446|2,659,915|2,570,505|
|Net movement|in funds|||86,138|64,169|150,307|89,410|
|Total funds carried||forward||2,742,607|67,615|2,810,222|2,659,915|
##
|||Note||2021f||2020|
|---|---|---|---|---|---|---|
|Fixed assets|||||||
|Tangible assets||12||1,627,618||1,717,790|
|Current assets||||1,627,618||1,717,790|
|Stocks||13|9,438||10,323||
|Debtors||14|69,962||96,284||
|Cash at bank and|in hand||1,227,037||958,493||
||||1,306,437||1,065,100||
|Creditors: amounts|falling due within one||||||
|year||15|(109,939)||(93,501)||
|Net current assets||||1,196,498||971,599|
|Total assets less|current liabilities|||2,824,116||2,689,389|
|Creditors: amounts|falling due after more||||||
|than one year||16||(13„894)||(29,474)|
|Total net assets||||2„810,222||2,659,915|
|Charity funds|||||||
|Restricted funds||18||67,615||3,446|
|Unrestricted
funds||18||2,742,607||2,656,469|
|Total funds||||2,810,222||2,659,915|
||||||2021f|2020|
|---|---|---|---|---|---|---|
|Cash flows from operating||activities|||||
|Net cash provided
by operating
activities|||||311,785|363,136|
|Cash flows from investing||activities|||||
|Interest received|||||3,387|6,772|
|Proceeds from the sale oftangible
fixed|||assets||1,800|35,132|
|Purchase oftangible
fixed assets|||||(33,714)|(76,092)|
|Net cash used in investing||activities|||(28,527)|(34,188)|
|Cash flows from financing||activities|||||
|Repayments
of borrowing|||||(14,714)|(14,290)|
|Net cash used in financing||activities|||(14,714)|(14,290)|
|Change
in cash and cash|equivalents||in|the year|268,544|314,658|
|Cash and cash equivalents|at the beginning|||ofthe year|958,493|643,835|
|Cash and cash equivalents||at the end|of|the year|1,227,037|958,493|
|The notes on pages 17to 31||form part of|these financial statements||||
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||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|
||funds|funds|funds|funds|
||2021|2021|2021|2020|
|Donations|14,572|1,375|15,947|14,563|
|Legacies|6,483||6,483|22,504|
|Other income|348||348|363|
||21,403|1,375|22,778|37,430|
##
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2021|2021|2020|
||||E||
|Fees received||1,740,846|1,740,846|1,657,731|
|Workshop|and farm sales|7,740|7,740|4,266|
|TOTAL 2021||1,748,586|1,748,586|1,661,997|
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2021|2021|2020|
|||f.|E|F|
|Farm|rent|3,053|3,053|6,106|
|Bank|interest|4,756|4,756|5,987|
|||7,809|7,809|12,093|
##
##
|||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|
|||funds|funds|funds|funds|
|||2021|2021|2021|2020|
||||F|F|F|
|Profit on sale offixed assets||1,800||1,800|34,628|
|Solar energy|income|15,281||15,281|14,441|
|Coronavirus|Job Retention Scheme grant|||||
|income|||106,142|106,142||
|||17,081|106,142|123,223|49,069|
##
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|||||Unrestricted|Total|Total|
|---|---|---|---|---|---|---|
|||||funds|funds|funds|
|||||2021|2021|2020|
|||||E|F|E|
|Fundraising|expenditure|||198|198|734|
|FUNDRAISING||TRADING|EXPENSES||||
|||||Unrestricted|Total|Total|
|||||funds|funds|funds|
|||||2021|2021|2020|
||||||E|F|
|Fundraising|expenses|||1,518|1,518|441|
##
##
|||Activities|||
|---|---|---|---|---|
|||undertaken|Total|Total|
|||directly|funds|funds|
|||2021|2021|2020|
||||E|E|
|Charitable|activities|1,750,373|1,750,373|1,670,004|
##
||||||Total|Total|
|---|---|---|---|---|---|---|
|||||Activities|funds|funds|
|||||2021|2021|2020|
|||||E||E|
|Staff costs||||1,128,525|1,128,525|1,033,620|
|Depreciation||||119,594|119,594|114,767|
|Support ofresidents||||165,975|165,975|180,992|
|Medical expenses||||1,068|1,068|1,288|
|Cultural
and|educational|activities||||503|
|Cost offarm|and workshop||activities|8,326|8,326|11,438|
|Staff training||||2,804|2,804|6,881|
|Subscriptions||||12,165|12,165|10,898|
|Premises||||181,540|181,540|197,866|
|Motor and travel expenses||||26,855|26,855|34,560|
|Sundry expenses||||10,151|10,151|10,991|
|Printing,
postage, telephone|||and office expenses|31,255|31,255|28,527|
|Accountancy||||9,080|9,080|5,239|
|Professional|fees|||8,532|8,532|12,694|
|Bank charges||||3,090|3,090|2,758|
|Additional
COVID expenditure||||38,996|38,996||
|Siemens lease interest||||2,267|2,267|3,172|
|Governance|costs|||150|150|13,810|
|||||1,750,373|1,750,373|1,670,004|
##
##
||||||2021|2020|
|---|---|---|---|---|---|---|
||||||F|E|
|Fees payable|to the company's|auditor||for the audit ofthe company's|||
|annual accounts|||||5,500|5,300|
|Fees payable|to the company's|auditor||in respect of:|||
|All non-audit|services not included||above||2,750|2,050|
##
|||||2021|2020|
|---|---|---|---|---|---|
|||||E|P|
|Wages and|salaries|||1,022,272|944,475|
|Social security costs||||74,758|67,730|
|Contribution|to defined|contribution|pension schemes|31,495|31,655|
|||||1,128,525|1,043,860|
||||2021|2020|
|---|---|---|---|---|
||||No.|No.|
|Care and support staff|||34|35|
|Farm and maintenance||staff|3|3|
|Administrative|staff||7|6|
|||||44|
##
##
||Freehold|Motor|Fixtures and||
|---|---|---|---|---|
||property|vehicles|fittings|Total|
||E|E|E|E|
|COST OR VALUATION|||||
|At I February 2020|2,471,060|132,314|820,665|3,424,039|
|Additions|6,634|8,000|19,080|33,714|
|Disposais||(5,990)|(3,447)|(9,437)|
|At 31 January 2021|2,477,694|134,324|836,298|3,448,316|
|DEPRECIATION|||||
|At 1 February 2020|940,126|82,054|684,069|1,706,249|
|Charge for the year|48,013|23,302|52,571|123,886|
|On disposais||(5,990)|(3,447)|(9,437)|
|At 31 January 2021|98&,139|99,366|733,193|1,820„698|
|NET BOOK VALUE|||||
|At 31 January 2021|1,489,555|34,958|103,105|1,627,618|
|At 31 January 2020|1,530,934|50,260|136,596|1,717,790|
##
|||2021|2020|
|---|---|---|---|
|||E|E|
|Farm||797|1,266|
|Workshop||2,915|3,019|
|Heating|oil|5,726|6,038|
|||9,438|10,323|
##
##
|||2021|2020|
|---|---|---|---|
||||F|
|DUE WITHIN|ONE YEAR|||
|Trade debtors||59,222|68,071|
|Other debtors||3,565|21,903|
|Prepayments|and accrued income|7,175|6,310|
|||69,962|96,284|
##
##
|||||2021|2020|
|---|---|---|---|---|---|
|Trade creditors||||36,520|42,240|
|Other taxation|and social security|||18,757|18,039|
|Obligations
under finance lease and hire purchase|||contracts|15,585|14,719|
|Accruals and deferred||income||39,077|18,503|
|||||109,939|93,501|
##
##
||||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||F|
|Net|obligations|under|finance|lease|and|hire|purchase|contracts|13,894|29,474|
##
##
||||2021|2020|
|---|---|---|---|---|
|||||F|
|FINANCIAL ASSETS|||||
|Financial assets measured|at fair value through|income and expenditure|1,227,037|958,493|
##
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##
|STATEMENT OF FUNDS -C|URRENT YEAR|||||
|---|---|---|---|---|---|
||Balance at 1||||Balance at|
||February
2020|Income|Expenditure|Transfers
in/out|31January
2021|
||E|||||
|UNRESTRICTED FUNDS||||||
|DESIGNATED FUNDS||||||
|Land and buildings|1,530,934||(48,013)|6,634|1,489,555|
|Maintenance
programme|7,757||||7,757|
|Vehicle fund|50,260||(23,302)|8,000|34,958|
|Hapstead
development|514,337|||224,083|738,420|
|Merryfield
development|15,000||||15,000|
|Furniture
replacement|38,181||||38,181|
||2,156,469||(71,315)|238,717|2,323,871|
|GENERAL FUNDS||||||
|General funds|500,000|1,794,879|(1,637,426)|(238,717)|418,736|
|TOTAL UNRESTRICTED||||||
|FUNDS|2,656,469|1,794,879|(1,708,741)||2,742,607|
|RESTRICTED FUNDS||||||
|Ralph Brereton fund|1,245||(324)||921|
|Workshop|1,881||(1,797)||84|
|Resident social activities|253||(40)||213|
|Weave ry|67||(49)||18|
|Covid support
funding||107,517|(41,138)||66,379|
||3,446|107,517|(43,348)||67,615|
|TOTAL OF FUNDS|2,659,915|1,902,396|(1,752,089)||2,810,222|
##
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##
|STATEIIENT OF FUNDS -P|RIOR YEAR|||||
|---|---|---|---|---|---|
||Balance at||||Balance at|
||1 February
2019f|Income|Expendituref|Transfers
in/out|31 January
2020f|
|UNRESTRICTED FUNDS||||||
|DESIGNATED FUNDS||||||
|Land and buildings|1,569,906||(38,972)||1,530,934|
|Maintenance
programme|7,757||||7,757|
|Vehicle fund|86,624||(36,364)||50,260|
|Hapstead
development|320,152|||194,185|514,337|
|Merryfield
development|15,000||||15,000|
|Furniture
replacement|38,181||||38,181|
||2,037,620||(75,336)|194,185|2,156,469|
|GENERAL FUNDS||||||
|General funds|530,789|1,759,239|(1,595,843)|(194,185)|500,000|
|TOTAL UNRESTRICTED||||||
|FUNDS|2,568,409||(1,671,179)||2,656,469|
|RESTRICTED FUNDS||||||
|Ralph Brereton fund|1,245||||1,245|
|Workshop|531|1,350|||1,881|
|Resident social activities|253||||253|
|Weave ry|67||||67|
||2,096|1,350|||3,446|
|TOTAL OF FUNDS|2,570,505|1,350|(1,671,179)||2,659,915|
##
|SUMNIARY|OF FUNDS - C|URRENT YEAR|||||
|---|---|---|---|---|---|---|
|||Balance at 1||||Balance at|
|||February
2020|Income|Expenditure|Transfers
in/out|31 January
2021|
||||E|E|||
|Designated|funds|2,156,469||(71,315)|23&,717|2,323,871|
|General funds||500,000|1,794,879|(1,637,426)|(238,717)|418,736|
|Restricted|funds|3,446|107,517|(43,348)||67,615|
|||2,659,915|1,902,396|(1,752,089)||2,810,222|
|SUMMARY|OF FUNDS -PRIOR YEAR||||||
|||Balance at||||Balance at|
|||1 February
2019|Income|Expenditure|Transfers
in/out|31 January
2020|
||||E|E|F||
|Designated|funds|2,037,620||(75,336)|194,185|2,156,469|
|General funds||530,789|1,759,239|(1,595,843)|(194,185)|500,000|
|Restricted funds||2,096|1,350|||3,446|
|||2,570,505|1,760,589|(1,671,179)||2,659,915|
##
|ANALY|SIS O|F NET ASSETS BETWEEN FUND|S -CURRENT PERIOD|||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|
||||funds|funds|funds|
||||2021f|2021
E|2021|
|Tangible|fixed|assets|1,627,618||1,627,618|
|Current|assets||1,238,822|67,615|1,306,437|
|Creditors|due|within one year|(109,939)||(109,939)|
|Creditors|due|in more than one year|(13,894)||(13,894)|
|TOTAL|||2,742,607|67,615|2,810,222|
##
##
|||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2020
E|2020f|2020
E|
||Tangible fixed assets|1,717,790||1,717,790|
||Current assets|1,061,654|3,446|1,065,100|
||Creditors due within one year|(93,501)||(93,501)|
||Creditors due in more than one year|(29,474)||(29,474)|
||TOTAL|2,656,469|3,446|2,659,915|
||RECONCILIATION
OF NET MOVEMENT|IN FUNDS TO NET CASH FLOW|FROM OPERATING||
|21.|ACTIVITIES||||
||||2021|2020|
||Net income for the period (as per Statement ofFinancial Activities)||150,307|89,410|
||ADJUSTMENTS FOR:||||
||Depreciation
charges||123,886|114,709|
||Losses on investments||(3,387)|(6,772)|
||Profit on the sale offixed assets||(1,800)|(18,300)|
||Decrease
in stocks||885|5,431|
||Decrease
in debtors||26,322|177,883|
||Increase
in creditors||15,572|774|
||NET CASH PROVIDED BYOPERATING ACTIVITIES||311,785|363,135|
|22.|ANALYSIS OF CASH AND CASH EQUIVALENTS||||
||||2021|2020|
||||F|F|
||Cash
in hand||1,227,037|958,493|
||TOTAL CASH AND CASH EQUIVALENTS||1,227,037|958,493|
##
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||At 1||At 31|
|---|---|---|---|
||February||January|
||2020
f|Cash flows
F|2021f|
|Cash at bank and in hand|958,493|268,544|1,227,037|
|Finance leases|(44,193)|14,714|(29,479)|
||914,300|283,258|1,197,558|
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|cancellable|o|perating
leases as follows:|
||
|---|---|---|---|---|
||||2021|2020|
||||F||
|Not later than||1 year|261|1,045|
|Later than|1 year and not later than 5years|||261|
||||261|1,306|
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