## THE FLORENCE ELLISON TRUST ## FINANCIAL STATEMENTS, 31ST DECEMBER 2020 Charity Commission Registration (England and Wales) 280824 ## THE FLORENCE ELLISON TRUST ## FINANCIAL STATEMENTS, 31ST DECEMBER 2020 ## Contents |Trustees’ Annual Report|| |---|---| |Reference and administrative details|1| |Structure governance and management|2| |Objectives and activities|2 and 3| |Achievements and performance|3 and 4| |Financial review|4| |Responsibilities of the Trustees|4| |Independent Examiner’s Report to the Trustees|5| |Statement of Financial Activities|6| |Balance Sheet|7| |Notes to the Financial Statements|8 to 16| Page 1 THE FLORENCE ELLISON TRUST ## TRUSTEES’ ANNUAL REPORT, 31ST DECEMBER 2020 |Reference and administrative details|Reference and administrative details| |---|---| |Registered name|The Florence Ellison Trust| |Charity Commission registered number 280824|| |Jurisdiction of Charity Registration|
England and Wales| |Principal address and Registered Office 40 Half Moon Lane|| ||WORTHING| ||BN13 2EN| |Trustees|Miss C J Bawtree=Jobson| ||Mrs P Blann| ||W Gander| ||G Geal| ||B W Johnson| ||Mrs P Richards| |All Trustees served from 1|stJanuary 2020 to the date of this report.| |Mrs P Richards is named as a nominee for the Charity on the title of two Trust premises.|| |Secretary|G Geal| |Treasurer|B W Johnson| |Independent Examiner|Derek Longden| ||Chartered accountant| ||47 West Parade| ||WORTHING| ||BN11 5EF| |Bankers|CAF Bank Limited| ||25 Kings Hill Avenue| ||Kings Hill| ||WEST MALLING| ||ME19 4TA| |Solicitors|Messrs Green Wright Chalton Annis| ||1 London Road| ||ARUNDEL| ||BN18 9AZ| ||Messrs Burnand Brazier Malcolm Wilson| ||4-5 Aldsworth Parade| ||GORING-by-SEA| ||BN12 4UA| Page 2 THE FLORENCE ELLISON TRUST ## TRUSTEES’ ANNUAL REPORT, 31ST DECEMBER 2020 Structure governance and management By her Will dated 8th March 1977 Miss Florence Ruth Ellison, who died on 4th April 1978, gave the residue of her Estate to The Durrington Free Church to help that church in its work among old people. The Durrington Free Church is now The New Life Church, Durrington. To administer that gift the Trust was established by a Trust Deed dated 14th July 1980. It was registered in England and Wales as a Charity, number 280824, on 30th September 1980. The Trust Deed vested power to appoint new Trustees in the Elders for the time being of the Durrington Free Church. The Durrington Free Church is now The New Life Church, Durrington. New Trustees are recruited from local persons who have relevant technical skills and business experience, usually within the personal acquaintance of serving Trustees and members of The New Life Church congregation. A Board of Trustees of not fewer than three nor more than seven meets at least twice a year and at other times as necessary to administer the Charity. The Trustees continue to monitor the local housing market for suitable additions to the Charity’s housing stock. There have been no significant changes in the Charity’s organisation or policies. The Charity’s social investment property is insured against loss under normal residential policies. Charity Trustee Indemnity insurance is maintained. The Trustees received neither remuneration nor, except as reported in Note 12 on page 15 of the Financial Statements, reimbursement of expenses incurred in connection with their work for the Charity. No Trustee nor any person connected with a Trustee received any disclosable service or any other disclosable benefit from the Charity. Objectives and activities The Trustees resolved that the intent of Miss Ellison be carried into effect by provision of homes for old persons of small means who had need of such facilities by reason of age or infirmity. The Trustees have bought both freehold and leasehold residential accommodation which is let at favourable rates to elderly and infirm persons. The Trust Deed requires that beneficiaries’ financial means be considered when rents and other financial matters are assessed. In confirming the Charity’s objectives and its activities the Trustees have given careful consideration to the Charity Commission’s general guidance on public benefit and in particular to its supplementary public benefit guidance on fee charging. Page 3 THE FLORENCE ELLISON TRUST ## TRUSTEES’ ANNUAL REPORT, 31ST DECEMBER 2020 Objectives and activities, continued The Charity’s property portfolio, which during the year under review comprised twelve residential units, is concentrated in a small area in Worthing, West Sussex. During the year one unit fell vacant. After refurbishment it has been occupied since it was re-let in mid-November. During the year the Charity’s only bungalow became vacant. It offered neither the size nor the type of accommodation sought by current or recent applicants. It was, therefore, put on the market for sale and this was completed in June 2021. It is intended to use the sale proceeds to purchase units better suited to current applicants. The other ten units were let and were occupied throughout the year. Applications for accommodation are welcome from prospective residents wherever they may be located at the time but for reasons of efficient management it is not proposed to expand significantly the geographical area within which the Charity’s property is located. The Charity conducts no part of its activity through grant-making. The Charity holds no funds or other property as custodial trustee on behalf of any other entity. Achievements and performance The Charity is a Public Benefit entity which has continued to provide housing of good standard at reasonable cost to enable elderly and infirm persons of moderate means to live independent lives in comfort, dignity and security while reducing the call on publicly funded facilities. Trustees recognise that its investment property portfolio must be maintained to current standards both to safeguard the safety and welfare of its residents and to preserve the viability of its housing stock. Support is given to local tradesmen who undertake repair and refurbishment of Charity property on a commercial basis. Rents are set at values intended both to meet the expense of insurance, maintenance, regular refurbishment and other charges payable by the Charity and to permit access to accommodation by persons of small means. In considering the Charity Commission’s supplementary public benefit guidance on fee charging Trustees monitor the local housing market to ensure that rents charged to the Charity’s residents are not in excess of open=market rental values and where applicable assist them in obtaining Local Authority housing allowances. The Charity undertook no fundraising activity in 2020. The Cl)Arirfs only in￿￿¢mell￿ in prfwaJnfftreJ*d fre¢hold and leaschold re$identsaJ property. property was acquired aod 15 l￿d iii xcordwKT with iiivL%tinent ￿>￿tr$ set out in tl 'I"rnst l)eed to meet the oF¥rts t)f the tharity. Surplus cash is I￿ad in inteTtsi.bearllw der*Jsits. any or all of which may be wid1dr#N￿ withotsi nL)ticr ￿?(1 withouipcnalry. The Charity ajwilc fwjance for its expenses Pa￿b￿ oul ot revenu The Lhi¢ rirfs poliry. whieh ha3 ehaiwd sill￿ iiittrAio.'I, is surplus inmine be *roJmulakd in in￿res￿bearing deposits unril Uiere is sulTicient, having reg¥d ro d)e lundins riqui¥Lmciits of rcgular opcraliiw cxi)ciises 4V]d ui coiiiunc1i￿1 widi fundiryg if Approp11￿. to adapt &$ from causes. Appr¢wrtd l)y thc I"nL*L'X IUMI si￿1￿ by their order 40 Elalf Lane w()Irri.115N BNIJ 2F' Au8USt 2021 GEAL ANCI THETRu￿[..rS I rewt to the ThJs*cs on my ￿aMination (Jftl* ofThe Floren¢¢ Ellisoii Tntsl. tlK' Chavity, for the yt4r endLxI 31" Dcceinber 2020 which are set Ory PO8e$ 6 to 16. RestxJrLsibilities and Ik¥i8 olreport AS Ch3TTIYs TTU5t¢'cs yuu arr resp01￿1bIt for the preparti¢n dthe Kcouiiis iii with die Tequirements of the Chwities Aa 2011 Id)L 2011 Arl). I report iri Ta%pcd vfmy exaMi￿1￿0n of the Chw7rf$ aceounts carrt￿l I>ui uiider seaion 145 of the 2011 Art and in carryn8 Out my examinati(￿ I havc followed ajl the appli￿ble dire￿1￿1￿ Kiveii by the Chuity CovnTni55ioI) under JertioIi 1&515)thl of the 2011 Aei. I have eornplctrd my examin￿ I CODfrn th* i]0 ma￿[1#1 m*tthY. knvt come ￿ my altrniioii iii LDiiiwJM)ii die examination Hliicli pves mc cauK' to belleve in any matrjial JLYOUlltiI￿ records kept in #Lroth widi 5Lxai￿) of die SY)1 l Aa: or the accounts do aeeord with the ¥KLY)Utiliiig recoriLs: or the accounts do iiul L¥￿111￿y widi Llie appli￿bIr requirements miircniiiw fonii ￿ntent of thc Acmunts set out in the Ch￿1t]eS (Accouiits ￿ld licwrt%) Regul￿10n$ %X)8 odi¥r ili¢111 4Uiy rcquirtmciit didil the acCi￿nts givc a.trne amd fair vicrf wliicli is nol a mauer coAsidcrcd as Iwi VI'￿) I have ￿ conc¢TrnS and have come across iio L)u￿r m*tcrs in conneflion H'idi tIIL cxamiiiation which auenUoD sliould bc dram￿ iii dJi$ reix)rt •) (*(kr to enable a prow un&nlAJicliiw of the ac(L)unts to bc rr¥hcd. 47 Wcsi P￿Ra¢ WORT141NG WL5L Sussex BNII SF AuAusi 2(Y21 Derek [A)n￿ell Lhartctcil ALroili￿Al Page 6 ## THE FLORENCE ELLISON TRUST ## STATEMENT of FINANCIAL ACTIVITIES for the year ended 31ST DECEMBER 2020 |||TOTAL FUNDS|TOTAL FUNDS| |---|---|---|---| ||Note|2020|2019| |||£|£| |Incoming resources|||| |Incoming resources from generated funds|||| |Voluntary income: donations, grants and legacies|1b|0|4| |Activities for generating funds||0|0| |Investment income, bank interest|1d|47|71| |Incoming resources from charitable activities, gross rents 1e, 3||64205|62465| |Other incoming resources||0|0| |||-------------|-------------| |||64252|62540| |||------------|-------------| |Resources expended|1g||| |Costs of generating funds|||| |Costs of generating voluntary income||0|0| |Fundraising trading||0|0| |Investment management costs||0|0| |Charitable activities|3|31822|23176| |Governance costs|4|2517|8578| |Other resources expended||0|0| |||------------|------------| |||34339|31754| |||------------|------------| |Net incoming resources before other recognised gains and losses||
29913|30786| |Other recognised gains and losses|||| |On tangible fixed assets,|||| |programme=related social investment property 1h|||| |Realised gains||0|0| |Unrealised gains||186199|( 24004)| |||------------|------------| |Net movement in funds||216112|6782| |Reconciliation of funds|||| |Total funds brought forward||2253620|2246838| |||------------|-------------| |Total funds carried forward||2469732|2253620| |||=======|=======| All movements are in undesignated unrestricted funds. The Statement of Financial Activities incorporates the Income and Expenditure Account and the Statement of Comprehensive Income required by Financial Reporting Standard 102. All incoming resources derive from continuing activities. All resources expended are in respect of continuing activities. The notes on pages 8 to 16 form part of these Financial Statements. P￿7 Ls I"DE 2020 2019 Note TANGIBI￿ FIXFJ) A55Ers 2501961 31576? CURR￿ AssEfs Debtots C3sli ai b￿L￿)d.)))￿VttL.. fti.6 6177 lj,7 704￿.. 76673 SCA) LIABJUIILS Credilors falling du¢ within Pr￿￿$1(>ll* ff>r liKbilities IK 8 14436 Ik9 23(J8 14114 177.3 15887 NYI" CURRtrJ+tr 401, T(yfAL AssEfs Iiss LURREKf ￿mILl"r1E% $6181X) LIABIUTIE5, Crcditt>r¥ falli￿ due afier 01)c year ILIO 102278 'r()I'AL NEI. A&SEtS 24697J¥ 'W253ti20 GENERAL UNRrsrRTcfF.D FuNr)s LlIirestridEd iiicomL ful￿¥ Rcvalualion rucThr. unrcaliwj ￿7￿5 ijn iiivL7lmLirf 11 29.189 15402 135 "lotai utwestricted ejwity fuzKIs 215,￿20 I7￿ iicAu on 16 forni i%irt of these Winawial %Li*men "Ile Trinw](ial .8thiemei)ts were approved by the TnLStees on.f AUg￿$t 2021 and are sycd on thcir bchaJ(by W GANDER G GEAL Ji Page 8 THE FLORENCE ELLISON TRUST NOTES TO THE FINANCIAL STATEMENTS, 31ST DECEMBER 2020 1 Accounting policies ## 1a Bases of preparation The Financial Statements have been prepared: i on the presumption that the entity is a going concern; ii on the accruals basis under the historical cost convention at cost or transaction value, modified for the revaluation of fixed assets; iii in accordance with applicable charity law for England and Wales; iv in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities preparing their accounts in accordance with Financial Reporting Standard 102 applicable in the United Kingdom and the Republic of Ireland. The Trustees consider, having made due enquiry, that there is no uncertainty that the Charity, which is a Public Benefit entity, shall continue to function satisfactorily as a going concern because: a rental income continues to exceed all expenses of operation; b current assets continue to exceed current liabilities; c long=term borrowing, ie amounts due more than one year after the reporting date, is a small proportion of net assets less current liabilities: 3.59% (2019: 4.34%, 2018: 0.17%, 2017: 0.83%, 2016: 1.49%, 2015: 0.91%, 2014: 1.75%); d the Charity has a long waiting list for potential residents; e for so long as the country’s supply of new and acceptably refurbished dwellings shall fail to meet the requirements of an increasing population there shall be a need for the type of modestly priced accommodation that the Charity is able to provide and accordingly the accounts have been prepared on the going concern basis. There has been no change in accounting policies nor has there been any change in the presentation of the Financial Statements except as required to comply with the aforementioned official instruction and guidance. 1b Incoming resources: donations, grants and legacies Income from donations, grants and legacies, including capital grants, is included in incoming resources when it is receivable except: i when a donor or testator specifies that a donation, grant or legacy made to the Charity must be used in future accounting periods the income is deferred until those periods; ii when a donor or testator imposes conditions which must be fulfilled before the Charity becomes entitled to use a donation, grant or legacy the income is deferred until the preconditions have been met. Additionally income from legacies is deferred until Probate has been granted and the Executors have established that the Estate has sufficient assets. Page 9 THE FLORENCE ELLISON TRUST ## NOTES TO THE FINANCIAL STATEMENTS, 31ST DECEMBER 2020 - 1 Accounting policies, continued - 1c Incoming resources: intangible income Material intangible income and the corresponding expense in respect of donated services are included in the Statement of Financial Activities when a service is received on the basis of the value of the gift to the Charity where its value can be measured easily economically and reliably. - 1d Incoming resources: investment income, bank interest Interest is included when it is credited by the bank. - 1e Incoming resources: charitable activities Rental income arising on the Charity’s social investment property portfolio, which is held in furtherance of the Charity’s objects, is credited when it is receivable under the respective tenancy agreements. 1f Incoming resources: income tax Recoverable income tax deducted from incoming resources is recognised on the same basis as the underlying income. 1g Resources expended Resources expended, including all Value Added Tax, none of which can be recovered by the Charity, are reported in the Statement of Financial Activities and in the Balance Sheet on an accruals basis. 1h Tangible fixed assets, programme=related social investment property The Charity owns both freehold and leasehold residential units. To fulfil the intent of Miss Ellison and in accordance with the Trust Deed of 14th July 1980 it lets those units at favourable rents to persons of small means who have need of such accommodation by reason of age or infirmity. All the residents enjoy the usual UK statutory provisions for security of tenure which could restrict the Charity’s ability to sell a unit with vacant possession. Page 10 ## THE FLORENCE ELLISON TRUST ## NOTES TO THE FINANCIAL STATEMENTS, 31ST DECEMBER 2020 - 1 Accounting policies, continued - 1h Tangible fixed assets, programme=related social investment property, continued Programme=related social investment property is capitalised at cost. Cost includes: i the purchase contract price; ii all charges duties and fees payable on purchase; iii costs of initial refurbishment where this is required to bring an acquisition to an acceptable standard for occupation; iv subsequent improvements; v all associated Value Added Tax, none of which can be recovered by the Charity. Records for each property are maintained in the Charity’s books at cost. Since 1997 for the purpose of presentation in the Balance Sheet in compliance with the requirements of successive SORPs programme=related social investment property has been revalued annually in accordance with the House=price index for the UK Outer South=east region prepared from house price data by the Nationwide Building Society. No deduction is made for any costs that might arise on a sale. The unrealised gains from these revaluations are shown separately in the Statement of Financial Activities and in the Balance Sheet. 1i Current assets: debtors and prepayments Debtors are stated at the recoverable amounts for service rendered. Prepayments are stated at the respective amounts paid apportioned on a time basis. 1j Current assets: cash at bank and in hand Cash in hand, ie notes and coin, is no longer kept. All small items of sundry expenditure previously paid in cash are now settled by cheque or by bank transfer. Cash at bank is the aggregate of the balances shown at the reporting date on the Charity’s current and savings banking accounts adjusted as necessary for transactions initiated before the reporting date but not completed until the following year. Any or all of the balances can be withdrawn at any time without notice and without penalty. - 1k Liabilities: amounts falling due within one year Sundry creditors and accrued charges are recognised for the amounts that are expected to be paid for goods or services received before the reporting date but not yet settled and for the amounts received in advance for services yet to be provided at the reporting date. Page 11 THE FLORENCE ELLISON TRUST ## NOTES TO THE FINANCIAL STATEMENTS, 31ST DECEMBER 2020 ## 1 Accounting policies, continued ## 1k Liabilities: amounts falling due within one year, continued Provisions for liabilities are recognised where there is an obligation but either the timing or the amount of the settlement is uncertain. A provision has been created and is augmented from time to time in amounts recommended by the managing agent for long=term repair of one of the Charity’s leasehold units. Neither the amount payable nor the timing shall be known until the agent commissions the work. Accordingly the Provision has been treated as an amount falling due within one year. ## 1l Liabilities: amounts falling due after one year The leasehold residential unit at 9 Palm Court, Franklin Road, Worthing was bought in February 2013. The purchase was funded in part by an unsecured loan from Charity Bank Limited. Negotiations to extend the terms of the leases of two residential units were concluded satisfactorily in 2017. The costs of these extensions and of the extension to the term of the lease of one other residential unit that was completed in 2016 were funded in part by a further advance coupled with an extension of the term to 2020 on the loan from Charity Bank Limited. One additional leasehold residential unit in Bakers Court Salvington Road Worthing was bought during 2019. The purchase was funded by additional borrowing from Charity Bank Limited. The opportunity was taken to consolidate this additional borrowing and the existing unsecured loan in a single secured loan at a significantly lower rate of interest. Borrowing from Charity Bank Limited continues to be repayable by equal monthly instalments of capital and interest. The loan is measured at amortised cost using the effective interest method. Amounts shown in these accounts are confirmed by statements produced by Charity Bank Limited. ## 1m Offsetting There has been no offsetting of assets and liabilities or of income and expenses unless required or permitted by FRS 102 SORP or FRS 102. ## 2 Legal status of the Charity The Trust was established by a Trust Deed dated 14th July 1980. Charitable registration in England and Wales under number 280824 was granted on 30th September 1980. -12- -24- _34- Bakers Coure 40 3 3 St Green- Qjeen Mary8 landRd 6tyead Court Dean Court ar•ats F•lm WTAL Court Blli8on Coure-_ 2019 GROSS REfft 6240 5700 6240 1900 2940 6240 6360 $025 5700 5675 5225 5220 62465 BXFBNSES Cleanlng Councll tax Electrlcity Garden Ground rent In8Utance Intere8t l*gal tee8 Maintenance Retuxb- Bhment¥ Rèpairs Repairs reserve Water Wxndowa 94 552 646 37 232 806 277 966 332 1468 417 2769 114 844 7939 160 loo 120 112 232 468 768 72 72 2012 48 2288 19D6 196 66 969 1240 692 403 70 so 345 178 280 188 30 2402 2107 148 6201 562 186 562 L96 1842 60 448 262 206 159 198 187 60 1243 2360 2096 3068 NET REwfs 4997 3340 *144-1168 2127 3956 5108 4539 $353 5447 2534-4591 3503 39289 813 2284 1252 486 347 228 2691 4591 1717 23176 2020 GROSS RENTS 6240 5700 6240 $700 1715 6240 SIIO 4940 $700 5700 5700 0 5220 642D5 EXPENSZS Cleaning council Lax Electricity Garden Ground rent Insurancg Interest Legal £e?8 Maintenance Ref urb- ishments Rèpairs Repair8 reserve ter Nindow8 605 605 200 159 1723 332 1496 230 4285 200 159 1443 160 120 loo 120 112 200 485 811 40 40 3867 108 2300 1915 1915 1269 961 844 9204 8996 120 8996 65 2154 25 150 202 125 455 215 125 672 625 183 625 187 1989 54 501 254 343 139 179 303 54 886 2340 19SS $932 807 2410 10651 698 354 304 303 3744 1438 31822 53S4 3360 4285 -232 908 3830-5541 4242 $346 $396. 5397-3744 3782 32383 Page 13 ## THE FLORENCE ELLISON TRUST ## NOTES TO THE FINANCIAL STATEMENTS, 31ST DECEMBER 2020 |4 Governance costs||| |---|---|---| ||2020|2019| ||£|£| |Financial service fees||| |Independent examination|688|680| |Other assurance services|0|0| |Taxation advice|0|0| |Consultancy|0|0| |Financial advice|0|0| |Accountancy|1032|1020| ||-------|-------| ||1720|1700| |Postage, stationery and sundry expenses|494|487| |Trustee insurance|243|193| |Legal fees and expenses|0|4312| |Bank charges|60|1886| ||-------|-------| ||2517|8578| ||====|====| |The Charity employed no staff during either financial year.||| |5 Tangible fixed assets, programme=related social investment property||| ||2020|2019| ||£|£| |Reconciliation of market value||| |At 1
stJanuary|2315762|2218682| |Acquisitions and improvements at cost|0|121084| |Cost eliminated on disposals|0|0| |Net adjustment on revaluations in the year|186199|( 24004)| ||------------|------------| |At 31
stDecember|2501961|2315762| ||=======|=======| |Reconciliation of cost||| |At 1
stJanuary|961718|840634| |Acquisitions and improvements at cost|0|121084| |Cost eliminated on disposals|0|0| ||------------|-------------| |At 31
stDecember|961718|961718| ||=======|=======| Page 14 ## THE FLORENCE ELLISON TRUST ## NOTES TO THE FINANCIAL STATEMENTS, 31ST DECEMBER 2020 |6 Debtors|6 Debtors||| |---|---|---|---| |||2020|2019| |||£|£| |Income tax recoverable||0|0| |Sundry debtors||2873|2649| |Prepayments||3304|2784| |||-------|-------| |||6177|5433| |||====|====| |7 Cash at bank and in hand|||| |||2020|2019| |||£|£| |Bank|current account|1500|1500| |Bank|savings account|68996|49090| |Cash||0|0| |||---------|----------| |||70496|50590| |||=====|======| |8 Liabilities, creditors, amounts falling due within one year|||| |||2020|2019| |||£|£| |Accrued charges||4227|4341| |Secured loan, Charity Bank Limited||10209|9773| |||--------|--------| |||14436|14114| |||=====|=====| |9 Liabilities, provisions, amounts falling due within one year|||| |||2020|2019| |||£|£| |Provision for leasehold property renovation|||| |At 1
st|January|1773|1211| |Additional provision made in the year||625|562| |Provision used in the year||0|0| |||-------|-------| |At 31|stDecember|2398|1773| |||====|====| Page 15 ## THE FLORENCE ELLISON TRUST ## NOTES TO THE FINANCIAL STATEMENTS, 31ST DECEMBER 2020 10 Liabilities, creditors, amounts falling due after one year |||2020|2019| |---|---|---|---| |||£|£| |Secured loan, Charity Bank Limited||92068|102278| |||======|======| |11 General unrestricted funds|||| |||2020|2019| |||£|£| |Unrestricted income fund|||| |At 1
st|January|899576|868790| |Net incoming resources||29913|30786| |Realised gains / losses on investment assets||0|0| |||-----------|-----------| |At 31|stDecember|929489|899576| |||======|======| |Revaluation reserve, unrealised gains on investment assets|||| |At 1
st|January|1354044|1378048| |Unrealised gains / losses in the year||186199|( 24004)| |||------------|--------------| |At 31|stDecember|1540243|1354044| |||=======|========| ## 12 Related parties The Trust was established as a result of Miss Ellison’s bequest to The Durrington Free Church, which is known now as the New Life Church, Durrington. The Elders for the time being of the church have the power to appoint new Trustees. Whilst several Elders were initially Trustees following the creation of the Trust as a separate body, most Trustees subsequently appointed are not Elders and there is now a minority of Trustees who are Elders. The Eldership does not seek to influence or set the policy of the Trust. Balances with The New Life Church ||||2020|2019| |---|---|---|---|---| ||||£|£| |At 31|stDecember||0|0| ||||====|====| |Largest amount during the year ended 31||stDecember.|0|3| ||||====|====| During the year the Charity has made use of copying equipment owned by one of the Trustees who has been reimbursed at the rate of 5p per sheet: 2020 £17.05, 2019 £15.20. The Trustees received neither emoluments nor, except as noted in the previous paragraph, reimbursement of expenses incurred in respect of services rendered to the Charity. Page 16 ## THE FLORENCE ELLISON TRUST ## NOTES TO THE FINANCIAL STATEMENTS, 31ST DECEMBER 2020 - 12 Related parties, continued No Trustee nor any person connected with a Trustee received any disclosable service or any other disclosable benefit from the Charity. ## 13 Taxation The Trust is registered as a charity in England and Wales, Register number 280824. Under legislation in force for the two years ended 31st December 2019 and 31st December 2020 it is not liable to Income Tax, Corporation Tax or Capital Gains Tax on any income or gains applied to charitable purposes, nor is it liable to pay Stamp Duty on acquisition of land or buildings applied to charitable purposes. It is liable to pay Value Added Tax on all taxable supplies made to it: this tax is not recoverable.