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|TENTS|||
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|||Page|
|Directors' and Trustees'
report||1 —20|
|Auditors'
report||21 -23|
|Statement offinancial|activities||
|and income 8 expenditure
account||24|
|Balance sheet||25|
|Cash flow statement||26|
|Notes to the financial|statements|27- 37|
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|Company|number|1450892|||
|---|---|---|---|---|
|Registered|charity number|278720|||
|Scottish charity number||SCO39512|||
|Registered|office|10Wellesley Terrace|||
|||London
N1 7NA|||
|Auditor||Rouse Audit LLP|||
|||55 Station Road|||
|||Beacon sfield|||
|||Bucks|||
|||HP9 1QL|||
|Banks||HSBC Bank pic|||
|||Kensington
8 Chelsea Commercial||Banking|
|||Centre|||
|||Heathrow
House|||
|||785 Bath Road|||
|||Cranford,
Middlesex|TW5 9AT||
|||Royal Bank ofScotland|||
|||Charities 8 Not for Profit Sector|||
|||6'" Floor, 1 Princes Street|||
|||London EC2R 8BP|||
|Solicitor||Ann C.Bennett|||
|||2 Chelsea Embankment|||
|||London|||
|||SW3 4LG|||
|Chief Executive Officer||Isabel Abad|||
|Directors,|who are also trustees|Ann Catherine
Bennett (Chair)|||
|||Caroline Sanderson|(Secretary)||
|||Mary Mulhall|||
|||Marta Sauri|||
|||Vivian Chinwe
Nzewi|||
|||Anna Burbidge|||
|||Maria Alvarez de Toledo|||
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|FOR THE YEAR ENDED|31 DECEMBER 202|0||
|---|---|---|---|
|||Total|Total|
|||2020|2019|
||Notes|||
|Income||||
|l3oliations and Legacies||869,127|1,208,429|
|Charitable
Activities||447,043|662,070|
|HMRC furlough
grant||58,513||
|Other Trading Activities||224,991|352,723|
|Investments||11,317|14,142|
|Total||1,610,991|2,237,364|
|Costs ofRaising Funds|||311|
|Charitable
activities||1,365,442|1,181,613|
|Exchange Rate Variance||85,279||
|Total|6,7|1,450,721|1,181,924|
|Operating
Profit||160,270|1,055,440|
|Other income (exchange rate
variance)|||86,988|
|Profit on sale ofassets||918,167|2,740,753|
|Net movement
in funds||1,078,437|3,883,181|
|Fund Balances At 1 January
2020||17,038,917|13,155,736|
|Fund Balances At 31
December 2020||18,117,354|17,038,917|
##
|||||||2020|2019||
|---|---|---|---|---|---|---|---|---|
||||Notes||||||
|Fixed assets|||||||||
|Tangible assets|||14|||12,477,757||12,180,234|
|Current assets|||||||||
|Debtors: amounts
one year|falling due within||15||151,231||236,129||
|Loan to PACT falling
year||due within one|15||507,000||||
|Debtors: amounts
falling due after
more than one year|||15,19|6,142,543|||6,142,543||
|Loan to PACT falling
than one year||due after more|15||520,000||1,027,000||
|Cash at bank and|in hand||22|1,336,523|||698,119||
|||||8,657,297|||8,103,791||
|Creditors: amounts
within one year||falling due|16|(1,940,622)|||(1,723,429)||
|Net current assets|||||||||
|||||||6,716,675||6,380,362|
|Total assets less|current liabilities|||||19,194,432||18,560,596|
|Creditors: amounts
more than one year||falling due after||||(1,077,078)||(1,521,679)|
|Funds|||18,20|||18,117,354||17,038,917|
|Unrestricted|||||||||
|General
Fund||||||5,639,597||4,858,683|
|Designated
Fund||||||12,477,757||12,180,234|
|||||||18,117,354||17,038,917|
|The notes on pages|27 to 37form part||ofthese accounts.||||||
|Approved
by the Board and authorised|||for issue on|||2020|||
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|||||||2020|||2019||
|---|---|---|---|---|---|---|---|---|---|---|
||||||Notes||||||
|Net cash|flows from operating||||||||||
|activities|||||22||588,236|||1,043,514|
|Cash flows from investing||||activities|||||||
|Purchase|ofproperty,
plant||and||||||||
|equipment||||||(634,475)||(3,518,828)|||
|Proceeds|from sale ofassets|||||1,022,533||3,441,979|||
|New loan|provided
to PACT|||||||(520,000)|||
|Interest received||||||11,317||14,142|||
|Net cash flows from investing|||||||||||
|activities|||||||399,376|||(582,707)|
|Cash flows from financing||||activities|||||||
|New short|term loans|||||150,000|||||
|New long term loans||||||54,500||123,888|||
|Repayment|oflong-term|non||secured|||||||
|loans||||||(545,107)||(541,339)|||
|Interest paid||||||(8,601)||(13,404)|||
|Net cash flows from financing|||||||||||
|activities|||||||(349,208)|||(430,855)|
|Net increase/(decrease)||in||cash and|||||||
|cash equivalents
in the||year|||||638,404|||29,952|
|Cash and|cash equivalent|at||the|||||||
|beginning|ofthe year||||||698,119|||668,167|
|Cash and|cash equivalents||at the end of||||||||
|the year|||||22||1,336,523|||698,119|
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||DHEF|Ashwell|Hazelwood|Total|Total|
|---|---|---|---|---|---|
|||House||2020|2019|
|Fees|528|274,519|69,462|344,509|588,450|
|Contributions|102,534|||102,534|73,620|
|Grants|36,138|22,375||58,513||
|Unrestricted|139,200|296,894|69,462|505,556|662,070|
|Restricted||||||
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|.Analysis ofexpend|itur|e
on charitab|le
activities||||
|---|---|---|---|---|---|---|
||||DHEF|Ashwell|Hazelwood|Total|
|||||House||2020|
|Activities undertaken|directly||228,602|591,566|83,344|903,512|
|Grants - to individuals|||||||
|Grants to other charities|||68,925|||68,925|
|Support costs|||275,103|58,951|58,951|393,005|
||||5'72,630|650,517|142,295|1,365,442|
|Governance
&Su|ort costs||||||
|Head office salary costs|||68,814|14,746|14,746|98,306|
|Head office &insurance||costs|26,716|5,725|5,725|38,166|
|interest Paid|||6,682|1,432|1,432|9,546|
|Depreciation|||162,811|34,888|34,888|232,587|
|Governance|||10,080|2,160|2,160|14,400|
||||275,103|58,951|58,951|393,005|
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|FOR THE YE|AR ENDED 31 DE|AR ENDED 31 DE|AR ENDED 31 DE|CEMBER|2020|||
|---|---|---|---|---|---|---|---|
|7.
Summary|analysis ofexpenditure|||and related|income for charitable|activities||
|||||DHEF|Ashwell|Hazelwood|Total|
||||||House|||
|Costs||||(228,602)|(591,566)|(83,344)|(903,512)|
|Fees||||139,200|296,894|69,462|505,556|
|Net cost funded|from other income||~89,402||~294,672|13,882|397,956|
|8.
Interest|Payable|||||2020|2019|
|interest payable|on non-secured|loans||||8,601|13,404|
|9.
Net income/(expenditure)||for|the|year||||
|This is stated after charging:||||||2020|2019|
|Depreciation
oftangible assets||||||232,587|193,914|
|Audit fee||||||14,400|14,400|
|interest payable||||||8,601|13,404|
|Foreign exchange loss||||||85,279||
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|1.||Grants paid out|||
|---|---|---|---|---|
||||2020|2019|
|Paid|to|institutions|68,925|89,813|
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||||2020|2019|
|---|---|---|---|---|
|Delivery ofcharitable||activities|24|26|
|Management|and administration||4|4|
||||28|30|
||||2020f|2019f|
|Wages and salaries|||317,417|389,561|
|Social security|costs||34,213|10,651|
|Pension costs|||11,911|13,326|
||||363,541|413,538|
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|Trustees,
Key Management
Personnel,|and their families
may give donat|ions
to DHEF.||
|---|---|---|---|
|||2020|2019|
|A.
Bennett||650|1,300|
|C.
Sanderson|||1,425|
|14.
Tangible fixed assets for use|by the charity|||
||Land and|Fixtures,|Total|
||buildings|fittings &||
||freehold|equipment||
|Cost||||
|At 1 January 2020|14,107,739|1,177,707|15,285,446|
|Additions||634,475|634,475|
|Disposals|147,049|10,576|157,625|
|At 31 December 2020|13,960,690|1,801,606|15,762,296|
|Depreciation||||
|At 1 January 2020|2,265,066|840,146|3,105,212|
|Charge for the year
Depreciation
on disposal|129,640
~42,662|102,947
10,577|232,587
53,259|
|At 31 December 2020|2,352,024|932,516|3,284,540|
|Net book value||||
|At 31 December 2020|11,608,666|869,090|12,477,756|
|At 31 December 2019|11,842,673|337,561|12,180,234|
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|5.
Debtors|||
|---|---|---|
||2020|2019|
|||F|
|Tax recoverable|36,259|36,998|
|Other debtors|114,972|199,131|
|Loan to PACT|1,027,000|1,027,000|
|Deposits and shortfalls (see note 19)|6,142,543|6,142,543|
||7,320,774|7,405,672|
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|Amounts
falling|due af|ter||mo|re than one year and included
in the debto|rs above are:||
|---|---|---|---|---|---|---|---|
|||||||2020|2019|
|Loan to PACT||||||520,000|1,027,000|
|Deposits and shorffalls|||(see note 19)|||6,142,543|6,142,543|
|16.
Creditors: amounts|||||falling due within one year|||
|||||||2020|2019|
|||||||E||
|Bank and other loans||||||291,027|286,142|
|Concessionary|loans|||||1,573,354|1,388,854|
|Taxation and social security||||||1,738|4,786|
|Other creditors|and accruals|||||74,502|43,649|
|||||||1,940,621|1,723,431|
|All the loans are|unsecured|||loans.||||
|17.
Creditors:|amounts|||falling due after more than one year||||
|||||||2020|2019|
||||||||f|
|Other loans|||||||291,027|
|Concessionary|loans|||||1,077,078|1,230,652|
|||||||1,077,078|1,521,679|
|Analysis ofloans||||||||
|Not wholly repayable||within|||five years by instalments|199,745|270,652|
|Wholly repayable
within|||five||years|2,741,714|2,926,023|
|||||||2,941,459|3,196,675|
|Included
in current
liabilities||||||1,864,381|1 674996|
|||||||1,077,078|1,521,679|
|Loan maturity|analysis|||||||
|Between two and five||years||||877,333|1,251,027|
|ln five years or|more|||||199,745|270,652|
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|||Unrestricted|Designated|Total|
|---|---|---|---|---|
|||Funds|Funds|Funds|
|Fund balances at|31December 2020||||
|Tangible fixed|||||
|assets|||12,477,757|12,477,757|
|Current assets||8,657,297||8,657,297|
|Creditors: amounts|falling due||||
|within one year||(1,940,622)||(1,940,622)|
|Creditors: amounts|falling due||||
|after one year||(1,077,078)||(1,077,078)|
|Total net assets||5,639,597|12,477,757|18,117,354|
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|22.|Analysis ofcash and cash equivalents|||
|---|---|---|---|
|||2020|2019|
|Cash|in hand|1,286,523|148,119|
|On deposit||50,000|550,000|
|Total|cash and cash equivalents|1,336,523|698,119|