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|||Page|
|---|---|---|
|Trustees'
report||3-8|
|Statement ofTrustees'|responsibilities||
|Independent
auditors|report|10-12|
|Statement
offinancial|activities|13|
|Balance Sheet||14|
|Cash Flow Statement||15|
|Notes to the accounts||16-23|
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|was investe|d as follows:|||||
|---|---|---|---|---|---|
|||5 April|2021|5 April|2020|
|||Market|value|Market|value|
|Bonds||F1,001,426|11.2'/o|81,393,295|19.1'/o|
|Investment|Trusts|E6,798,985|75 8o/o|F4,707,665|64.7'/o|
|Cash||E8,728|p po/o|68,195|0.0'/o|
|Historic Chattels||8105,281|1 2o/o|F105,281|1.5'/o|
|Land||F1,052,189|11.8'/o|E1,052,189|14 5'/o|
|Accrued Bond Income||L6,063|p po/o|812,643|0.2o/o|
|Totals||F8,972,672|100.0/o|87,279,268|100.0/o|
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|ho served during the year|were:|
|---|---|
|Edward
Bonham-Carter|Finances|
|Martin
Drury|Houses' fabric 8 landscape|
|John Harkness|Deputy Chairman
&Finances|
|Adam Munthe|Chairman/Houses'
Supervisor|
|Tobie Munthe|Educational/Cultural|
|Turi Munthe|Media/Social/Political|
|Peter Richey|Furniture
8 woodwork|
|Lindsay Stainton|Pictures, miniatures|
|Alex Walsh|Legal|
||-7-|
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|||||Unrestricted
funds|Endowment
funds|Designated
funds|Total
2021|Total 2020|
|---|---|---|---|---|---|---|---|---|
|Incoming resources from:|||||||||
|Donations
and legacies|||2|62,494|||62,494|1,915|
|Charitable
activities|||3|49,652|||49,652|48,146|
|Other trading
activities|||4|11,453|||11,453|87,028|
|Investments|||5|1,352|414,701|9,581|425,634|436,883|
|Total income||||124,951|414,701|9,581|549,233|573,972|
|Expenditure
on raising funds|||6||||||
|Costs ofraising funds:|||||||||
|Costs of raising funds from visitors &||events||14,332|||14„332|24,635|
|Activities for raising funds: cost ofgoods|||4|907|||907||
|Investment
management
costs||||24,116|||24,116|25,421|
|||||39,355|||39,355|50,056|
|Expenditure
on charitable
activities:|||||||||
|Running
costs ofhistoric properties||||307,596|||307,596|365,159|
|Historic property
repair &maintenance||costs||195,316|||195,316|19,562|
|Insurance||||23,362|||23,362|24,000|
|Charitable
donations||||6,250|||6,250|31,250|
|||||532,524|||532,524|439,971|
|Total resources expended||||571,879|||571,879|490,027|
|Net income/(expenditure)
before
gains/(losses)
on investments||||(446,928)|414,701|9,581|(22,646)|83,945|
|Other recognised galnsi(losses):|||||||||
|Gains/(losses)
on investment|assets|||5,241|1,694,415|49,953|1,749,609|(1,653,030)|
|et income/(expenditure)||||(441,687)|2,109,116|59,534|1,726,963|(1,569,085)|
|Transfers between funds||||365,712|(415,712)|50,000|||
|Net movement
in funds||||(75,975)|1,693,404|109,534|1,726,963|(1,569,085)|
|Reconciliation
offunds:|||||||||
|Total funds brought
forward||||2,470,174|7,279,268|115,509|9,864,951|11,434,036|
|Total funds carried forward||||2,394,199|8,972,672|225,043|11,591,914|9,864,951|
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|||2021||2020||
|---|---|---|---|---|---|
|Reconciliation
of net movement
in funds to|net|||||
|cash flows from operating
activities||||||
|Net movement
in funds||1,726,963||(1,569,084)||
|Investment
income||(425,634)||(436,883)||
|Depreciation||2,020||2,020||
|(Deduct gains)/add
back losses on investments||(1,749,609)||1,653,030||
|(Increase)/decrease
in debtors||8,150||7,944||
|Increase/(decrease)
in creditors||17,339||(3,980)||
|Net cash oufflow from operating
activities|||(420,771)||(346,953)|
|Returns on investments
and servicing offinance||||||
|Investment
income received||425,634||436,883||
|Change
in value of investments
—not realised as cash||110,416||31,056||
|Net cash inflow from returns
on investments
servicing ofincome|and||536,050||467,939|
|Cash flows from investing
activities and capital||||||
|expenditure||||||
|Purchase
oftangible
fixed assets||||||
|Disposal oftangible
fixed assets||||||
|Additions/purchases
of investments||(914,601)||(1,050,284)||
|Proceeds from disposals
of investments||892,628||897,738||
|Net cash oufflow from capital expenditure|||(48,973)||(152,546)|
|Increase/(decrease)
In cash in the year|||66,306||(31,560)|
|Reconciliation
of net cash flow to movement|in|||||
|net cash funds||||||
|Net cash funds at beginning
ofthe year|||21,902||53,462|
|Change
in net funds during the year|||66,306||(31,560)|
|Net cash funds at end ofthe year|||88,208||21,902|
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|2. Donations
and legacies|2. Donations
and legacies|2. Donations
and legacies||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2021|2020|
|Donations
and giRs||||||||62,494|1,915|
|Le acies receivable||||||||||
|||||||||62,494|1,915|
|3. Charitable
activities||||||||||
|||||||||2021|2020|
|||||||||6|8|
|Admission
fees, rent,||photo shoots, book||sales||||49,562|47,396|
|Membershi
s||||||||90|750|
|||||||||49,652|48,146|
|4. Other trading activities||||||||||
|||||||||2021|2020|
||||||||||6|
|Activities for raising|funds|||||||11,453|87,028|
|Activities for raisin|funds: costs of cods|||||||907||
|||||||||10,546|87,028|
|5. Investment
LOther||income||||||||
||||Unrestricted||Endowment||Designated|2021|2020|
||||funds|||funds|funds|6|8|
|Income from listed investments||||624||414,701|9,581|424,906|436,867|
|Interest receivable||||728||||728|16|
|Total Investment||income|1,352|||414,701|9,581|425,634|436,883|
|6. Analysis ofexpenditure
on|||raising funds|||||||
|||||Staff||Depreciation|Other|Total|Total|
|||||costs|||costs|2021|2020|
||||||8|6||8|6|
|Cost ofraising funds||||||||||
|-Costs of raising funds from|||||460||13,872|14,332|24,635|
|visitors and events||||||||||
|-Activities for raising funds:|||||||907|907||
|cost ofgoods
- Investment
mana||ement costs|||||24„116|24,116|25,421|
||||||460||38,895|39,355|50,056|
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|The average|The average|monthly|number ofemployees|during the year was:|||
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||Number|Number|
|Southside|House||||1|1|
|Hellene|||||7|9|
||||||8|10|
|Employment||costs|||2021|2020|
||||||6||
|Gross salaries|||||141,381|149,877|
|Employers
Em
lo ers|NIC
ension||contributions||3,168
2,181|10,670
2,934|
||||||146,730|163,481|
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|. Tangible fixed assets||||||
|---|---|---|---|---|---|
||Land and|Historic|Plant &|||
||buildings|Chattels|Machinery|equipment||
|Cost||||||
|At 6April 2020|3,231,738|149,199|8,050|158,865|3,548,852|
|Additions||||||
|At 5April 2021|3,231,738|149,199|8,050|159,865|3,548,852|
|Depreciation||||||
|At 6 April 2020|||4,200|158,005|162,205|
|Charge for the year|||1,400|620|2,020|
|At 5April 2021|0|0|5,600|158,625|164,225|
|Net book value||||||
|At 5April 2021|3,231,738|149,199|2,450|1,240|3,384,627|
|At 6 April 2020|3,231,738|149,199|3,850|1,860|3,386,647|
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||||Endowment
fund|Unrestricted
fund|Designated
fund|Endowment
fund cash|Unrestricted
fund cash|Designated
fund cash|Total|
|---|---|---|---|---|---|---|---|---|---|
|Market Value at|6 April 2020||6,100,961|7,668|108,174|8,195|234,415|7,334|6,466,747|
|Disposals at opening||book value|(792,499)||||||(792,499)|
|Acquisitions
at cost|||889,570||52,032||||941,602|
|Change
in value|in year||1 608443|1 161|49953|533|122,514|7,550|1,545,125|
|Market Value at 5||April 2021|7806474|8829|210159|8728|111901|14884|8160975|
|Historical cost:||||||||||
|At 5 April 2021|||7,287,644|9073|202391|8728|111,901|14,884|7634621|
|At 5 April 2020|||7,360,294|9,073|150,359|8,195|234415|7,334|7,769,670|
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|2.Debtors|||||
|---|---|---|---|---|
||||2021|2020|
||||6|8|
|Prepayments|and accrued income||14,082|22,232|
|13.Creditors:|amounts|falling due within one year|||
||||2021|2020|
|Taxes and social security|||959|3,207|
|Other creditors|||37,608|13,983|
|Accruals|||4,500|5,500|
|Deferred income|||6,850|9,889|
||||49,917|32,579|
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||||||Movement|in funds||
|---|---|---|---|---|---|---|---|
|||Balance at|Incoming|Resources|Transfers|Investment|Balance at|
|||6April 2020|resources|expended||gain/(loss)|5April 2021|
|Permanent|endowments|||||||
|Endowment|fund|7,279,268|414,701||415,712|1,694,415|8,972,672|
|||7,279,268|414,701||(415,712)|1,694,415|8,972,672|
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|.Analysis ofnet assets between funds||||||
|---|---|---|---|---|---|
|||Unrestricted
funds|Endowment
funds|Designated
funds|Total|
|Fund balances at 5April 2021 are represented|by:|||||
|-Tangible fixed assets||2,227,159|1,157,468||3,384,627|
|- Heritage assets|||2||2|
|- Investments||120,730|7,809,139|225,043|8,154,912|
|-Current assets||96,227|6,063||162,290|
|- Creditors: falling due within one year||(49,917)|||(49,917)|
|At 5 April 2021||2,394,199|8,972,672|225,043|11,591,914|
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|||||Unrestricted|Endowment|Designated|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|2020|
|incoming resources from:||||||||
|Donations
and legacies||||1,915|||1,915|
|Charitable
activities||||48,146|||48,146|
|Other trading
activities||||87,028|||87,028|
|Investments||||625|429,988|6,270|436,883|
|Total income||||137,714|429,988|6,270|573,972|
|Expenditure
on raising funds||||||||
|Costs ofraising funds:||||||||
|Costs of raising funds from|visitors &events|||24,635|||24,635|
|Activities for raising funds:|cost ofgoods|||||||
|Investment
management
costs||||25,421|||25,421|
|||||50,056|||50,056|
|Expenditure
on charitable|activities:|||||||
|Running
costs ofhistoric properties||||385,159|||365,159|
|Historic property
repair and|maintenance||costs|19,562|||19,562|
|Insurance||||24,000|||24,000|
|Charitable
donations||||31,250|||31,250|
|||||439,971|||439,971|
|Total resources expended||||490,027|||490,027|
|Net incomel(expenditure)
before
gains/(losses)
on investments||||(352,313)|429,988|6,270|83,945|
|Other recognised
gains/(losses):||||||||
|Gains/(losses)
on investment||assets||(10,061)|(1,602,208)|(40,761)|(1,653,030)|
|Net incomel(expenditure)||||(362,374)|(1,172,220)|(34,491)|(1,569,085)|
|Transfers
between funds||||274,401|(424,401)|150,000||
|Net movement
in funds||||(87,973)|(1,596,621)|115,509|(1,569,085)|
|Reconciliation
offunds:||||||||
|Total funds brought
forward||||2,558,147|8,875,889||11,434,035|
|Total funds carried forward||||2,470,174|7,279,268|115,509|9,864,951|