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||Page|
|---|---|
|Chair’s statement|2|
|Strategic report|4|
|Impact review|9|
|Financial review|11|
|Governance & Risk Management|15|
|Thank you to oursupporters|20|
|Independent auditors’ reportto the members ofThe Dartington Hall Trust|22|
|Consolidated statement of financial activities for the 17 month period ended 31|25|
|August 2020||
|Consolidated and Charity Balance sheets as at 31 August 2020|26|
|Consolidated statement of cash flows for the 17 month period from 1 April 2019 to|27|
|31 August 2020||
|Notestothe financial statementsforthe period ended 31 August 2020|28|
|Legal and administrative information|51|





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||2019/20||2018/19||Pro rata|
|---|---|---|---|---|---|
|Total income|£‘OOO|Ratio %|£‘OOO|Ratio%|variance|
|Charitable activities|10,238|51.1|7,396|43.8|(169)|
|Trading activities|6,965|34.7|6,071|36.0|(1,155)|
|Donations and legacies|886|4.4|2,241|13.2|(1,616)|
|Investment and otherincome|1,602|8.0|1,179|7.0|(48)|
|Government grants|366|1.8|-|-|258|
|Total income|20,057|100.0|16,887|100.0|(2,730)|



||2019/20||2018/19||Pro rata|
|---|---|---|---|---|---|
|Donations and legacies|£‘OOO|Ratio %|£‘OOO|Ratio%|variance|
|Individuals|274|30.9|2,174|97.0|(1,981)|
|Legacies|612|69.1|67|3.0|365|
|Total income|886|100.0|2,241|100.0|(1,616)|



## 

||2019/20||2018/19||Pro rata|
|---|---|---|---|---|---|
|Total expenditure|£‘OOO|Ratio %|£‘OOO|Ratio % ALvanance||
|Charitable activities|14 994|65 1|11 661|60 2J|(231)|
|Trading activities|6 736|29 3|6 081|314|(1 263)|
|Investments|530|2.3|945|4.9|(571)|
|Raisingfunds|140|0.6|162|0.8|(63)|
|Defined benefit pension scheme|622|2.7|532|2.7|(93)|
|Totalexpenditure before|||||(2,221)|
|exceptional costs|23,022|100.0|19,381|100.0||





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|Non-financial key performance|2019/20|2018/19|Variance|Variance|
|---|---|---|---|---|
|indicators|(Number)|(Number)|(Number)|(%)|
|Post-graduate students|111|23|82|356.5|
|RiP PartnerOrganisations|208|178|30|16.8|





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## 

||I||Unrestricted<br>funds<br>01/04/2019|Restricted<br>funds<br>01/04/2019||Tota!<br>01/04/2019|Total|
|---|---|---|---|---|---|---|---|
||||to|to||to|Yearended|
||||31/08/2020|31/08/2020||31/08/2020|31/03/2019|
|||Note|£‘OOO|£‘OOO||£‘000|£‘000|
|Incomefrom:||||||||
|Donations and legacies||2|61|825||886|2,241|
|Income from charitable activities||3|9,219|1,019||10,238|7,396|
|Income from trading activities||4|6,965|-||6,965|6,071|
|Investmentand other income||5|1,968|-||1,968|1,179|
|Totalincome|||18,213|1,844||20,057|16,887|
|Expenditure on:||||||||
|Expenditureon raising funds||6|14|-|-|140|162|
|Expenditure on charitable activities||6|13,465|1,529||14,994|11,661|
|Expenditure on trading activities|F|6|6,736|-|,...<br>6,736||6,081|
|Expenditure on investments||6|530|||530|945|
|Closed defined benefit pension||||||||
|scheme cost||6|622|-||622|532|
|Exceptional costs||7|1,304|-||1,304|1,155|
|Total Expenditure|||22,797|1,529||24,326|20,536|
|Netgains on investments|12a/13||3,052|-||3,052|9,389|
|Net (expenditure)/income|||(1,532)|315||(1,217)|5,740|
|Otherrecognised (losses):||||||||
|Actuarial (losses) on defined||||||||
|benefit pension schemes||24|(1,258)|-||(1,258)|(452)|
|Netmovement in funds|||(2,790)|315||(2,475)|5,288|
|Total funds brought forward|||34,148|2,427||36,575|31,287|
|Totalfundscarried forward|||31358|2,742||34,100|36,575|





## 

## 

||Note||Group|Group||Chajlty|||Charity|
|---|---|---|---|---|---|---|---|---|---|
|||||31 March|||||31March|
||||2020|2019||2020|||2019|
||||£‘OOO|£‘OOO|r||||£‘OOO|
|Fixed Assets:||||||||||
|Tangible assets|11|-|9,910|10,701||9,863|||10,604|
|Heritageassets|11|J|621|621||621|||621|
|Investments|12|A|16897|25,853||6,897|||25,853|
|Investments in subsidiaryundertakings|12||-||||||395|
|Assets held for resale|13||7.518|3.380|||||3,380|
|Total fixed assets|F||34,946|40,555||||•|40,853|
|Currentassets||||||||||
|Stock|16||338|514||52|||63|
|Debtors|17||2,212|1,133||1,985|||1,033|
|Cash at bank and in hand|||6.044|3.435||4.003|||1.322|
|Totalcurrentassets|||8,594|5,082||5,040|||2,418|
|Creditors: amountsfallingdue within one||||||||||
|year|18||(6,189)|(3,305)||(6,481)|||(3,622)|
|Net currentassets! (Habllfties)|||2,405|1,777|,|(|||(1,204)|
|Totalassets lesscurrentliabilities|||37 351|42 332|||||39 649|
|Creditors: amountsfallingdueafterone||||||||||
|year|18||-|(3,000)|||||(3,000)|
|Net assetsexcluding pension lIability|||37 351|39 332||—|-_||36 649|
|Defined benefit pension scheme liability|24||(3,251)|(2,757)||(3,251)|||(2,757)|
|Total netassets|||34 100|36 575||31 602|||33 892|
|ThefundsoftheCharity:||||||||||
|Restricted income funds|20||2,7g.|2,427|||||395|
|Unrestricted funds|20||138|13 571||13133|||12 920|
|Revaluation reserve|20||20 744|23 334||20744|||23 334|
|Pension reserve|24||(3,251)|(2,757)||(3,251)|||(2,757)|
|Total unrestrictedfunds||-|31,358|34,148||30,626|||33,497|
|Total charity funds|20||34 100|36 575||31,602|||33,892|





## 

|||01/04/2019to|Yearended|
|---|---|---|---|
|||31/08/2020|31/03/2019|
||Note|£‘OOO|£‘OOO|
|Cash flowfromoperatingactivities:||||
|Net cash used in operating activities|22(a)|(4,474)|(2,206)|
|Cash flowfrom investing activities:||||
|Interest and rentsfrominvestments|I|1,200|1,179|
|Proceedsfrom sale of fixed assets|I|632||
|Purchase of fixed assets|I|(855)|-,Th.<br>(1,269)|
|Proceedsfrom sale ofinvestments||7,853|71|
|Purchase ofinvestments|||(296)|
|Netcash provided by!(used in) investingactivities|||(315)|
|Cash flowfrom financingactivities||||
|(Repayment)/ Receipt of loan facility||ti;|3,000|
|Net cash (used in)/ received in financing activities|||3,000|
|Change in cash and cash equivalents in the reporting period|2”||479|
|Cash and cash equivalents atthe beginning ofthe reporting||||
|period|||2,956|
|Cash and cash equivalentsatthe end ofthe reporting period||6,044|3,435|





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## 

## 



## 

## 

## 

## 

## 

|Freehold property, fixed asset improvements|5<br>- 10 years|
|---|---|
|Plant and equipment|4-40 years|
|Musical instruments|4years|
|Computerequipment|4years|
|Motorvehicles|4-5 years|
|Assets underconstruction|Not depreciated until assets is|
||complete|



## 



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## 

## 

||Unrestricted|Restricted|Total|Unrestricted||Restricted|Total|
|---|---|---|---|---|---|---|---|
||01/04/2019|01/04/2019|01/04/2019|||||
||to|to|to|Yearended||Yearended|Yearended|
||31/08/2020|31/08/2020|31/08/2020|31/03/2019||31/03/2019|31/03/2019|
||£‘OOO|£‘OOO|£‘OOO|£‘OOO|•|£‘OOO|£‘OOO|
|Individuals|57|217|274|24||2,150|2,174|
|Legacies|4|608|612|65||2|67|
|Total|61|8Z5|886|89||2,152|2,241|



## 

||Un-|||Un-|||
|---|---|---|---|---|---|---|
||restricted|Restricted|Total|restricted|Restricted|Total|
||01/04/2019|01/04/2019|01/04/2019||||
||to|to|to|Yearended|Yearended|Yearended|
||31/08/2020|31/08/2020|31/08/2020|31/03/2019|31/03/2019|31/03/2019|
||£‘OOO|£‘OOO|£‘OOO|£‘OOO|£‘OOO|£‘OOO|
|Grant income|1|1,019|1,020|4|649|653|
|Partnerincome|3,001|-|3,001||||
|Contract income forservices|3,672|-|3,672||||
|Course fees|1,326|-|1,326||||
|Admissions|409|-|409||||
|Rents|708||708|||628|
|Other|102||102|70|-|70|
|Total|9,219|1,019|10,238|6,747|649|7,396|



||01/04/2019 to|01/04/2019 to|Yearended|
|---|---|---|---|
||31/08/2020||31/03/2019|
|||£‘OOO|£‘OOO|
|School for Social Entrepreneurs||187||
||||-|
|University of Bath<br>— DSSE||72A:|59|
|Bristol CityCouncil — DSSE|—|25|37|
|VTKO Group<br>- OSSE||114||
|Devon CountyCouncil<br>— DSSE||59||
|Public Health England<br>—Research in Practice||79|25|
|OtherStatutory grants||4|6|
|Educational institutions, charities and privatetrusts||480|526|
|Total||1,020|653|





## 

## 

||Hotel activities|Trading|||
|---|---|---|---|---|
|||activities|Total|Total|
||01/04/2019to|01/04/2019to|01/04/2019to|Yearend|
||31/08/2020|31/08/2020|31/08/2020|31/03/2019|
||£‘OOO|£‘OOO|£‘OOO|£‘OOO|
|Turnover|3,758|3207|6,965|6,071|
|Costs|t3.6021|(3.1341|(6.736)|(6.081)|
|Enterprise profit/ (loss)|156|73|229|(10)|
|Contribution to estate maintenance|||||
|paid directlyto Dartington|224|82|306|283|
|Enterprisecontribution to|||||
|Dartington|380|155|535|273|



## 

||t7|01/04/2019 to|01/04/2019 to|Yearended|
|---|---|---|---|---|
|||31/08/2020||31/03/2019|
||||£‘OOO|£,000|
|Intereston cash at bank|||19|9|
|Intereston Seedbed loans|c||16|17|
|Rental income|||1,165|1,153|
|Gain on sale of properties held for resale|||402||
|Governmentgrant —Job Retention Scheme|||366||
|Total||.|1,968|1,179|



## 

|||Activities|Support|—||||
|---|---|---|---|---|---|---|---|
|||undertaken|costs||Total||Total|
|||01/04/2019to|01/04/2019to||01/04/2019 to|Year ended||
|||31/08/2020|31/08/2020||31/08/2020|31/03/2019||
|||£‘OOO|£‘OOO||£‘OOO||£‘OOO|
|Expenditure on raising funds||140|-||140||162|
|Expenditure on charitable activities:||||||||
|Arts||1,216|200||1,416||1,531|
|Learning|:|8,567|1,410||9,977||6,636|
|Social Justice||20|3||23||122|
|Destination||298|49||347||591|
|Placemaking||2.774|457||3.231||2.781|
|Total expenditure or charitable||||||||
|activities||12,875|2,119||14,994r||11,661|
|Expenditure on trading activities||6,736|-||6,736j||6,081|
|Expenditure on investments||530|-||530||945|
|Costofclosed defined benefit||||||||
|pension scheme||622|||622||532|
|Exceptional costs||1,304|-||1,304 ItLI||1,155|
|Total|[|22,207|119||||20,536|
||||||||34|





## 

||01/04/2019to 31/08/2020|Yearended 31/03/2019|
|---|---|---|
|Supportcosts|£‘OOO|£‘OOO|
|Finance|510|418|
|Human Resources & Payroll|329|246|
|Information Technology|270|252|
|Central Management|494|278|
|Communications|376|285|
|Governance|140|81|
|Total|2,119|1,560|



## 

||Charity|Dartington||Dartington|||
|---|---|---|---|---|---|---|
|||Accommodati||Trading|||
|||on & Catering||Company|||
|||Services||Limited|Total|Total|
||01/04/2019to|01/04/2019to||01/04/2019to|01/04/2019to|Yearended|
||31/08/2020|31/08/2020||31/08/2020|31/08/2020|31/03/2019|
||£‘000|£‘OOO|||£‘OOO|£‘OOO|
|Redundancy costs|278|21|||385||
|Write offproperty|||||||
|development costs<br>Legal and|919|-|I:||919||
|Administrativecosts||||||1,155|
|Total|1,197|21|||1,304|1,155|



## 

||||||||Yearended|Yearended|
|---|---|---|---|---|---|---|---|---|
||01/04/2019|to|31/08/2020|01/04/2019|to|31/08/2020|31/03/2019|31/03/2019|
||||Number|||£‘OOO|Number|£‘000|
|Total|||11|||16|10|14|





## 

## 

||01/04/2019to|Yearended|
|---|---|---|
||31/08/2020|31/03/2019|
||£‘OOO|£‘OOO|
|Wagesandsalaries|9,499|7,104|
|Social security costs|730|567|
|Otherpension costs|364|260|
|Apprentice levy|23|20|
|Cost ofclosed defined benefit scheme|622|423|
|Total||8,374|



|||01/04/ZOl9to|Yearended|
|---|---|---|---|
|||31/08/2020|31/03/2019|
||•|Number|Number|
|£70,000-£79,999|I|2|2|
|£80,000-£89,999|L|1|1|
|£90,000-£99,999||2|2|
|£100,000-£109,999|II|1|-|
|£110000<br>£119999||1|1|



||01/04/2019to31/08/2020|01/04/2019to31/08/2020||Yearended|
|---|---|---|---|---|
|||£‘OOO||31/03/2019|
|||||£‘OOO|
||•<br>Remuneration<br>•<br>for services|Post-<br>employment<br>benefits|Total|Total|
|Charity keymanagement|993.5|43.7|1,037.2|700.0|
|Trading keymanagement|65.8|3.1|68.9|48.0|
|Total Group Keymanagement|1,059.3|46.8|1,106.1|748.0|





## 

||01/04/2019to 31/08/2020|Yearended 31/03/2019|
|---|---|---|
||Number|Numbers|
|Costs ofgenerating funds|2|2|
|Enterprises|95|109|
|Propertyand investment|23|27|
|Charitable activities|127|132|
|Total|247|270|



## 

|Net (expenditure)/income isstated|01/04/2019 to 31/08/2020|Yearended 31/03/2019|
|---|---|---|
|afterchargingthe following:|g’ooo|,000|
|Auditors’ remuneration|||
|Auditfees (charity)|||
|Consultancyservices<br>— Bond Listing<br>& DHEB PLC|Ii||
|VAT & Tax advisoryservices|I||
|(charity)||4|
|Operating land rentals:|I||
|Land and buildings|31|22|
|Depreciation ofowned assets|545|417|
|(Gain)/ Loss on disposal offixed|||
|assets|(394)|10|



## 

||Freehold|||Equipment,|||
|---|---|---|---|---|---|---|
||land and|Assets under||instruments|Heritage||
||property|construction||and vehicles|assets|Total|
||rooo|E’OOO||£‘OOO|£‘OOO|£‘OOO|
|At 31 March 2019|||||||
|Cost|8,530|919||4,593|621|14,663|
|Accumulated depreciation|(760)|||(2,678)||(3,438)|
|Net bookvalue|7,770|||1,915|621|11,225|
|Periodended 31August2020|||||||
|Opening net bookamount|7,770|||1,915|621|11,225|
|Additions|-||I|451|-|839|
|Transfer to investments|(19)||I|-||(19)|
|Amountswritten off|||I|||(919)|
|Disposals|-|||(159)||(159)|
|Depreciation|(132)|||(351)||(483)|
|Closingnetbookamount|Z619|378||1,866|621|10,484|
|At3lAugust2O2O|||||||
|Cost|8,511|378||4,895|621|14,405|
|Accumulated depreciation|(892)|-||(3,029)|-|(3,921)|
|Closingnet book amount|619|378||1,866|621|10,484|





## 

## 

||Freehold|Freehold|||Equlpmen;||||||
|---|---|---|---|---|---|---|---|---|---|---|
||land and||Assets|under|instruments|Heritage|||||
||property||Construction||and vehicles|assets||Total|||
|||00||£,000|£‘OOO|£‘OOO||‘000|||
|At31 March 2019|||||||||||
|Cost||8530||919|5440|621||15,510||I|
|Accumulated depreciation||(760)|||(3 428)|||(4,188)|•||
|Net bookvalue||7,770||919|2,012|621|||||
|Period ended 31August2020|||||||||||
|Opening net bookamount||7,770 il_I-||919|2,012|621||11,322|||
|Additions|.|-f||378|477|||855|||
|Transfer to investments||(1”||-|-|-||(19)|||
||||r||||||||
|Amountswritten off|,|-|||-|||t919)|||
|Disposals||-I|||(163)|-|:|(163)|||
|Depreciation||(132)|||(413)|||(545)|||
|Closingnet bookamount||7,619||378|1,913|621||10,531|||
|At 31August2020|||||||||||
|Cost||8,511||378|5,754|621|||||
|Accumulated depreciation||(892)||-|.j3,841)|-|||||
|Closingnet book amount|êr||‘-|378|9431||||||



## 

## 

## 



## 

## 

|||||Charity:|
|---|---|---|---|---|
||||Totalgroup|Investment in|
||Investment|Other|investment|subsidiary|
||properties|investments|S|undertakings|
||E’OOO|£‘OOO|£‘OOO|c,000|
|Costor valuation|||||
|At 1 April 2019|25,643|210|25,853|395|
|Transferfrom fixed assets|19|-|19||
|Seedbed loans repaid<br>Reversal ofprevious|||(;iAQ)||
|impairment provision|-|39|||
|Transfertoassets held for|||||
|resale|||if||
|Disposals|IL||||
|Revaluation|||||
|At3iAugust2OZO||119|7|395|



|Historicalcost|||||
|---|---|---|---|---|
|At31 March 2019|3,660|270|3,930|395|
|At31August 2020|2,750|119|2,869|395|



|||2019|2018|
|---|---|---|---|
|||12 months|12 months|
|||to3lDec|to3lDec|
|||£‘OOO|£‘OOO|
|Profit forthefinancial year||287|121|
|Othercomprehensive income|.|(485)|134|
|Shareholders’ funds|,.|(4,473)|(4,273)|
|Investments in excess of5%oftotal investments||2020<br>£‘OOO|20191<br>£‘OOO|
|Charityandgroup:||||
|Investment properties||16,778|25,643|





## 

## 

||||Group|Charlt’L’|Group|Charity|
|---|---|---|---|---|---|---|
||||2020|2020|2019|2019|
||||£‘OOO|£‘OOO|£‘OOO|£‘OOO|
|At 31 March 2019/31 March 2018||P|3,380|3,380|||
|Transferfrom Fixed Assets|||-||75|75|
|Transferfrom Investments|||5,468|6,468|3,305|3,305|
|Disposals|||(2,130)|(2,130)|||
|Impairment|—||(200)|(200)|-||
|At 31 August2020/31 March 2019|||7,518|7,518|3,380|3,380|



|Historical cost|||||
|---|---|---|---|---|
|At3lMarch2Ol9|-|-|2,008|2,008|
|At3lAugust2OZO|783|783|||



## 

|ubsidiary undertakings are shown bel|ow.|||
|---|---|---|---|
|||Nature ofbusiness|Nature ofcontrol|
|Dartington Accommodation & Catering<br>Services Limited||Accommodation & catering|Wholly owned byThe Dartington Hall<br>Trust-100% ofordinary shares.|
|Dartington Trading Company Limited<br>(The)||Retail|Whollyowned byThe Dartington Hall<br>Trust-100% of ordinary shares|
|Dartington Hall Pension Trustees Limited||Corporate Trustee|Whollyowned byThe Dartington Hall<br>Trust -100% ofordinary shares|
|Dartington<br>Hall<br>Estate<br>Bond<br>(dissolved 30September 2020)|PLC|Fund management activities|Whollyowned byThe Dartington Hall<br>Trust -100% ofordinaryshares|
|Schumacher College Foundation||Support Schumacher<br>College|Whollycontrolled.Trustees areeither<br>Trustees or Senior Personnel of The<br>Dartington Hall Trust|



## 



## 

||Dartington<br>Accommodation|The<br>Dartington|Dartington|Schumacher||
|---|---|---|---|---|---|
||and Catering<br>Services Limited|Trading<br>Company<br>Limited|Hall Estate<br>Bond PLC|College<br>Foundation|Total|
||£‘ODO|E’OOO|rooo|£‘OOO|£‘OOO|
|Period 1/4/2019to 31/8/2020||||||
|Turnover|3,787|2,996||160|6,943|
|Otherincome|229|212|-|-|441|
|Total income|4 016|3 208||160|7,384|
|Total costs|(3 923)|(3 222)||(425)|(7 570)|
|Profit/ (Loss) retained in||||||
|subsIdiary|93|(14)|-|(265)|(186)|
|The assets and liabilitiesofthe||||||
|subsidiaries were:||||||
|Total assets|633|1,087|32|1,928|3,680|
|Total liabilities|(286)|(330)|(11)|(161)|(788)|
|Total netassets|347|757|21|1,767|2,892|
|Aggregateshare capital and||||||
|reserves|347|757|21|1,767|2,892|



||Dartington<br>Accommodation|Dartington<br>Accommodation|Dartington|Dartington’chumacher|Dartington’chumacher||
|---|---|---|---|---|---|---|
||.<br>and Catering<br>.<br>Services Limited||Trading<br>Company<br>Limited|Hall Estate<br>Bond PLC|College<br>Foundation|Total|
|||5,000|C’OOO|5,000|£‘OOO|5,000|
|Yearended 31 March 2019|||||||
|Turnover||3,538|2,825||2,001|8,364|
|Total costs||(3,553)|(2,832)|(29)|(147)|(6,561)|
|(Loss)/Profitretained in|||||||
|subsidiary||(15)|(7)|(29)|1,854|1,803|
|The assets and liabilitiesofthe|||||||
|subsidiaries were:|||||||
|Total assets||630|915|37|2 094|3676|
|Total liabilities||(376)|(144)|(16)|(62)|(598)|
|Total netassets||254|771|21|2,032|3,078|
|Aggregate share capital and|||||||
|reserves||254|771|21|2,032|3,078|





## 

## 

|||Charity|Group|Charity|
|---|---|---|---|---|
|.|2ö20|2020|2019|2019|
||£‘OOO|£‘OOO,|£‘OOO|E’OOO|
|Livestock|25|25|25|25|
|Consumable stores|2|2|9|9|
|Retailing|271||428||
|Raw materials|40|25|52|29|
|Total|338|52|514|63|



## 

||Group|Charity||Group|Charity|
|---|---|---|---|---|---|
||2020|2020||2019|2019|
||£‘OOO|£‘OOO||£‘OOO|£‘OOO|
|Trade debtors|902|852||625|574|
|Otherdebtors|1,191|1,081||409|378|
|Prepayments and accrued income|119||•|99|81|
|Total||||1,133|1,033|



## 

||-|||Group|Charity|Group||Charity|
|---|---|---|---|---|---|---|---|---|
|||||2020|2020|2019||2019|
|||||£‘OOO|£‘OOO|||g’ooo|
|Trade creditors||||789|572|||928|
|Amounts owedto group|||||||||
|undertakings|||||889|||830|
|Taxation and social security|||-|1,053|958||||
|Othercreditors||||134|30|||5|
|Payments receivedforperformance|||||||||
|relatedgrants||||2|2|||23|
|City Bridge loan||,.||1,253|1,253|||-|
|Accruals and deferred income|||||2,717||-|1,836|
|Total||||6,89|6,481|||3,622|





## 

## 

||1Apr11|||31August||
|---|---|---|---|---|---|
||2019|Released|Deferred|2020||
||£‘OOO|£‘OOO|£‘OOO|£‘OOO||
|Fees received in advance|376|376|154||1|
|Partner Grants received in advance|247|247|1,223||I|
|Contract income|99|99|395|||
|Grant income|99|99|25|||
|Rental income|8|8|22|||
|Total|529|829|1,819|||



## 

||t1netrictedfunds|Restricted|Total|
|---|---|---|---|
|||funds|funds|
||£‘OOO|£‘OOO|£‘OOO|
|Groupfund balances at31 August||||
|2020 are represented by:||||
|Tangible assets|10,531||10,531|
|Assets for resale|7,518||7,518|
|Investments|16,897||16,897|
|Net currentassets and liabilities||||
|fallingdue within one year|(337)|2,742|2,405|
|Longterm pension liability|(3,251)|-|(3,251)|
||31,358|2,742|34,100|



|||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||£‘OOO|£‘OOO|£‘OOO|
|Charityfund balancesat31August 2020|||||
|are represented by:|||||
|Tangible assets||10,484|-|10,484|
|Assets for resale|F|7,518|-|7,518|
|Investments||17,292|-<br>-|17,292|
|Netcurrentassets and liabilities falling|||||
|due within one year||(1,417)|976|(641)|
|Longterm pension liability||(3,251)|-|(3,251)|
|||30,626|976|31,602|





## 

## 

|||||||||||Balance|
|---|---|---|---|---|---|---|---|---|---|---|
|||Balanceat||||||Gains and|Transfers|at31|
||||31 March||||Expend|losseson|between|August|
||||2019||Income||iture|revaluation|funds|2020|
||||£‘OOO||£ 000||£ 000|£ 000|£ 000|£000|
|Unrestricted Funds|||||||||||
|Generalfund|||||11,248||(15,695)|1,728|3,083|2,421|
|Designatedfunds:|||||||||||
|Fixed assetfund|||8,391||-||-||(151)|8240|
|Maintenancefund|||1,669||-||-||-|1,669|
|Subsidiaryfund|||651||||||.<br>1421|731|
|RiP fund|||803||||||260|804|
||-||||||,“-,|..|||
|Total designatedfunds||•|11,514||6,965||7,102)|-|67|11,444|
|Revaluation fund|||‘ 23,334|||||,.24|(3,914)|20,744|
|||||||V||-.|||
|Pension reserve|||2,757)||*||-|1,258)|764|(3,251)|
|Total unrestricted|||||||(Z2,797)|iLIh1I..._||31.358|
|Restrictedfunds|||||||||||
|SummerSchool|||*||||||||
|Social Entrepreneurs|||-|||||-|-|-|
|SEEDbed||||.|-||-||-|111|
|Public Health England|||-||79||(79)|-|h.|-|
|Refugee Support|||||||||||
|Network|||8||-||(8)|||-|
|Esmee Fairbairn|||55||36||(47)|||44|
|CaddyLegacy—mixed|||-||60||-|||60|
|Gyani<br>- Cabin|||-||||-|||35|
|Wilson Legacy— listed|||||||||||
|buildings|||-||185||-||-|185|
|SchumacherCollege|||20||62||(66)||-|16|
|SchumacherCollege|||||||||||
|Foundation|‘||2,032||159||(424)|-|-|1,767|
|Gardens|||87||118||t21)|-|-|184|
|Other|||34||75||(90)||-|19|
|Total restrictedfunds|||2,427||1,844||(1,529)|-|-|2,742|
|Totalfunds|||36,575||20,057||(24,326)|-4,794|-||



## 



## 

## 

## 

||01/04/2019to|Yearended|
|---|---|---|
||31/08/2020|31/03/2019|
||£‘DOO|,0oo|
|(a)<br>Reconciliation ofnet (expenditure)/income|||
|to netcash outflowfrom operatingactivities:|||
|Net (expenditure)/income forthe period|(1,217)|5,740|
|Depreciation|545|417|
|(Profit)/ Loss on disposal offixed assets|(394)|10|
|(Profit) on disposal ofinvestments|(1,728)||
|Revaluation ofinvestments|(1,524)|(9,389)|
|Impairmentoffixed assets|919||
|Impairmentof investments|161|32|
|Pension scheme charge/(credit)|(764)I|109|
|Decrease/ (Increase) instocks|176|438|
|Decrease/ (Increase) in debtors|(1,079)|2,032|
|(Decrease)/Increase in creditors|1,631|(416)|
|Rental income receivable|(1,165)|(1,153)|
|Seedbed interestreceived|(16)|(17)|
|Interest receivable|(19)|(9)|
|Netcash outflowfrom operatingactivities||(2,206)|





## 

||||01/04/2019 to|01/04/2019 to|Vearended|
|---|---|---|---|---|---|
|||||31/08/2020|31/03/2019|
|||||£‘OOO|£‘OOO|
|(b)||Reconciliation ofnetcashflowto movementsin||||
|net|funds|and debt:||||
|Increase in cash and cash equivalents intheyear||||2,609|479|
|Decrease/(increase) in City Bridge Loan||||1,747|(3,000)|
|Movementin netfundsand debt intheyear||||||
|Net|funds|at 1 April||435|2,956|
|Net|funds at31August2020/31 March 2019|||4,791|435|
||||lApril||3lAugust|
|||K|2019|Cash flow|2020|
||||£‘OOO|£‘OOO|£‘OOO|
||(c)|Analysis ofnetfundsanddebt:||||
||Cash atbank and in hand||3435|2 609|6,044|
||City Bridge Loan||(3,000)|1,747|(1,253)|
||Total||435||4.791|



## 

## 

## 



## 

||01/04/2019to|Yearended|
|---|---|---|
||31/08/2020|31/03/2019|
|Rateofincrease in pensionable salaries|3.0|3.3|
|RPI inflation|3.0|3.3|
|CPI inflation|2.2|2.4|
|Rate ofincrease in pensions in payment:|||
|5.00%/ RPI|30|3.3|
|250%/ RPI|19|2.1|
|Discount rate forliabilities|1.5|2.4|



|||01/04/2019to|01/04/2019to|Yearended|
|---|---|---|---|---|
||||31/08/2020|31/03/2019|
||Retiringtoday:||||
||Males||21.7|21.3|
||Females||24.0|23.2|
||Retiring in 20years||||
||Males||22.7|22.3|
||Females||25.1|24.4|
|The|value ofassets in the scheme and the present value of liabilities||atthe balance sheet date were:||
||||2020|2019|
||||Fairvalue|Fairvalue|
||||£‘OOO|£‘OOO|
||Equities||9,990|8,701|
||Bonds|||2,357|
||LDI funds||3,106|3,517|
||Annuity policies||2,572|2,610|
||Cash|P||943|
||Netcurrent assets||1,068||
||Total marketvalue ofassets||19,782|18,128|
||Presentvalue ofscheme liabilities||(23,033)|(20,885)|
||Deficitinthescheme||(3,251)|(2,757)|





## 

## 

||01/o4/2019 to|Yearended|
|---|---|---|
||31/08/2020|31/03/2019|
||£‘OOO|£‘OOO|
|Past service cost|333|170|
|Administrative expenses|33|19|
|Interests cost|685|521|
|Interestincome|(611)|(465)|
|Totalcost ofdefined benefit pensionfund scheme|440|245|



## 

|Interest on pension assets||611|465|
|---|---|---|---|
|Actuarial gain on assets||1|216|
|Actual return onscheme assets|F—|1,985|681|



|||01/04/2019to|Yearended|
|---|---|---|---|
|||31/08/2020|31/03/2019|
|||£‘OOO|E’OOO|
|Total|actuarial (loss)|(1,258)|(452)|
|Total|actuarial (loss)|(1,258)|(452)|
|Total|cumulative actuarial loss recognised in SOFAat 1 April|(5,139)|(4,687)|
|Total|cumulative actuarial loss recognised in SOFAat 31 March|(6,397)|(5,139)|



## 

||01/04/2019to|Yearended|
|---|---|---|
||31/08/2020|31/03/2019|
||£‘OOO|£‘000|
|Deficit in scheme atthe startofthe period|(2,757)|(2,196)|
|Employercontributions|1,204|136]|
|Past service cost|(333)|(170)|
|Otherfinance cost|(74)|(56)|
|Scheme expenses|(33)|(19)|
|Actuarial (loss)|(1,258)|(452)|
|Deficit in scheme at end ofthe period|{)|(2,757)|





## 

## 

||01/04/2019 to|Yearended|
|---|---|---|
||31/08/2020|31/03/2019|
|Reconciliation ofliabilities|£‘OOO|£‘OOO|
|Liabilities atthe start of the year|20,885|20,519|
|Interestcost|685|521|
|Actuarial loss|2,632|668|
|Benefits paid|(1,502)|(993)|
|Past service cost|333|170|
|Liabilitiesat the end ofthe period|23,033|20,885|



||01/04/2019 to|Yearended|
|---|---|---|
||31/08/2020|31/03/2019|
|Reconciliation ofassets|E’OOO|£‘OOO|
|Assets at thestart ofthe period|18,128|18,323|
|Interest income|611|465|
|Actuarial gain|1,374|216|
|Employercontributions|1,204|136|
|Scheme expenses|(33)|(19)|
|Benefits paid|—_______________________________________<br>(1,502)<br>(993)||
|Assetsatthe end ofthe period|19,782|18,128|



## 

||Group|Group|
|---|---|---|
||2020|2019|
||Land and buildings|Land and buildings|
||£‘OOO|£‘OOO|
|Less than one year|22|22|
|Laterthan one year and not laterthan five years|24|24|





## 

## 

|Name||Organisation/ Role|Organisation/ Role|Natureofrelated partytransaction|
|---|---|---|---|---|
|||||Directoror Riverford Organic Farms Ltd.|
|||||Dartington paid £31k (2019: £25k) for|
|||||goods supplied. Creditor balance £0 (2019:|
|Rachel|Watson|DHT—Trustee||£2.2k)<br>Directorof Ben s Farm Shop Dartington|
|||||paid £10.2k(2019: £3.5k) forgoods|
|||W|‘|supplied. Creditorbalance £0.4k (2019:<br>£08k|



## 

## 



## 

## 

##