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2020-10-31-accounts

Registered Charity Number: 283483

The Lord Whisky Sanctuary Fund

ANNUAL REPORT AND ACCOUNTS

FOR THE YEAR ENDED 31[ST] OCTOBER 2020

THE LORD WHISKY SANCTUARY FUND

YEAR ENDED 31[ST] OCTOBER 2020

CONTENTS

Page
Reference and Administrative Information 1
Report of the Trustees 2-4
Independent Examiner’s Report 5-6
Statement of Financial Activities 7
Balance Sheet 8
Statement of Cash Flows 9
Notes to the Accounts 10-16

Page 1

THE LORD WHISKY SANCTUARY FUND

YEAR ENDED 31[ST] OCTOBER 2020

REFERENCE AND ADMINISTRATIVE INFORMATION

CHIEF EXECUTIVE OFFICER

Mrs Margaret Todd MBE

TRUSTEES

Mrs Christine Bevis

Mr Eric Hay

Miss Sally Walkinshaw

Mr Roy Bevis Mr John Pidoux

ADDRESS

ADVISORS

BANKERS

ACCOUNTANTS

Park House Stelling Minnis Nr Canterbury Kent CT4 6AN HSBC Bank Plc 141 High Street Beckenham Kent BR3 1BX Paige-McLean & Co Accountants 11 Strangford Place Broomfield Herne Bay Kent CT6 7UJ

INDEPENDENT EXAMINERS

LEVICKS Chartered Accountants and Business Advisers 61 London Road Maidstone Kent ME16 8TX

Page 2

THE LORD WHISKY SANCTUARY FUND

YEAR ENDED 31[ST] OCTOBER 2020

REPORT OF THE TRUSTEES

The trustees present their report and the accounts for the year ended 31[st] October 2020.

Structure, Governance and Management

The charity is governed by Trust Deed, dated 20[th] August 1981.It constitutes a public benefit entity as defined by FRS 102. The Trustees have complied with the duty in Section 4 of the 2011 Charities Act to have due regard to guidance published by the Charity commission in respect of public benefit.

Organisation

The trustees who have served during the year and since the year-end are set out on page 1. Trustees are appointed by the board of trustees and serve until they retire or resign. The trustees meet on a half-yearly basis to discuss the work of the charity and to approve any capital expenditure requirements. The Chief Executive Officer controls the day to day running of the charity, and the care of the animals. She also makes recommendations to the trustees as to how the charity, which she founded, can best support her work at Park House Sanctuary.

Trustees are recruited from suitable persons known to the chief executive officer who have shown interest in the affairs of the charity from time to time as and when vacancies arise. They receive training appropriate to the level of their involvement in the management of the charity’s affairs.

Risk Management

The trustees have examined the major strategic and operational risks that the charity faces and confirm that they consider systems in operation are adequate. In addition, the trustees consider that insurance policies in place will cover any financial risk.

Strategically, the major risk is that insufficient legacy income will be received to cover the operating costs of the charity. The charity advertises widely in appropriate publications, but whether supporters pass away is in the hands of a greater power.

Operationally, the charity takes all reasonable steps to ensure the safety of all those who help to care for the resident animals.

Objectives and Activities

The aims of the charity are to care for abandoned and discarded animals and;

The charity continues to take in animals whose owners can no longer look after them. These animals, where possible, are found homes and those with behaviour problems or needing medical care are given sanctuary for the rest of their lives if needed.

Two veterinary clinics in permanent premises and a mobile clinic are being run to enable those people on low income to have their pets treated. These are getting busier all the time and are providing relief for animals who would not otherwise receive treatment and helping owners who find themselves on low income, often through no fault of their own.

Page 3

THE LORD WHISKY SANCTUARY FUND

YEAR ENDED 31[ST] OCTOBER 2020

REPORT OF THE TRUSTEES

Objectives and Activities (Cont’d)

The fund raising is carried out by volunteers and the amount raised in the year amounted to £17,554 (2019 £44,072).

A programme of neutering animals continues. In addition, free-living animals are trapped and identity chipped, neutered and returned to their own environment where possible.

The trustees have already circulated a report on the work of the Sanctuary to all the friends of the Charity for the year under review.

Achievements and Performance

The fund’s income for the year under review was £552,594 (2019 £2,851,669), which was raised by donations, fund raising and other income. Included in this figure is an amount of £254,960 (2019 £2,569,993) legacy income.

The result for the year was an excess of expenditure over income of £209,259 (2019 excess of income over expenditure of £2,126,555).

Financial Reviews

It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level that equates to approximately two years unrestricted expenditure amounting to an estimated annual sum of £600,000, or £1,200,000 in total. This sum should provide sufficient funds to cover all expenditure required to carry on with our work. However, until the recent exceptional years, we have had to use the Charity’s reserves to cover the operating deficits caused by the severe reduction in legacy income. The surpluses of those years have helped to rebuild the charity’s reserves, but there is no guarantee that they will be repeated. At 31 October 2020 unrestricted reserves were £2,910,691 (2019: £3,174,516).

The charity had recorded a deficit for six consecutive years, but has shown a surplus in four of the last seven years, thanks to large legacies from two supporters. Legacy income is unpredictable and is likely to vary from year to year. The level of legacies of which the charity was aware at 31[st] October 2020 is very similar to that of year ended twelve months previously, which indicates that the results for the year ended 31[st] October 2021 are unlikely to be significantly different.

The trustees note that an exceptional surplus was generated in the year ended 31[st] October 2019. However, since the majority of the charity’s income is normally received in legacies, and the charity’s recurring expenditure will normally significantly exceed its non-legacy income for the foreseeable future, the trustees do not anticipate that the charity will generate material net incoming resources in subsequent years.

Where legacies have taken the form of portfolios of quoted shares, it has been the policy of the charity to retain those shareholdings as investments. In this manner, a diverse portfolio of largely FTSE 100 companies as detailed in Note 6 to the accounts has been built up, which has grown in value faster than if the shares had been sold. Obviously, these values have been significantly affected by the coronavirus pandemic in the year ended 31[st] October 2020. However, the trustees see no reason why these values should not recover in future years, and feel that the holdings remain sound long term investments.

This year, the value of investments held fell by £54,566 (compared to a rise of £6,015 in 2019). Overall the value has increased by 65% from the original probate values.

Page 4

THE LORD WHISKY SANCTUARY FUND

YEAR ENDED 31[ST] OCTOBER 2020

REPORT OF THE TRUSTEES

Financial Reviews (Cont’d)

Certain of these holdings are in the names of two of the past and present trustees, at the insistence of the solicitors acting for that legatee. These are gradually being transferred into the name of the charity.

The cost of the animal care provided by Park House Sanctuary Services has risen this year by 8%, from an average of £30,816 per month to an average of £33,289 per month.

The Charity has an agreement with HM Revenue and Customs which allows it to reclaim 87% of the VAT on the costs of the care of the animals at the sanctuary. The vet clinic income is shown net of VAT, some £27,615 in this period (2019 £24,631). The VAT unable to be reclaimed on animal care was £10,937 (2019 £9,322).

Plans for the Future

The trustees feel that in the current economic climate, they will do well simply to continue the current level of activity. The trustees are actively exploring new sources of funding, but consider that for the next few years it will remain a challenge simply to ensure that the Charity can cover the costs of its current activities. However, although the level of legacies received has fallen back again, there should now be sufficient reserves to cover both the current needs and to invest in any new projects, for the next five to ten years.

Trustees’ Responsibilities in relation to the Financial Statements

The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each year, which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing the financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity, and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees on 17[th] September 2021 and signed on their behalf by:

C Bevis - TRUSTEE

J Pidoux – TRUSTEE

Page 5

THE LORD WHISKY SANCTUARY FUND

YEAR ENDED 31[ST] OCTOBER 2020

INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS OF

LORD WHISKY SANCTUARY FUND, CHARITY NUMBER 283483

FOR THE YEAR ENDED 31[ST] OCTOBER 2020

I report on the accounts of Lord Whisky Sanctuary Fund for the year ended 31[st] October 2020 which comprise the financial statements set out on pages 7 to 16.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.

It is my responsibility to:

Basis of independent examiner’s statement

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Page 6

THE LORD WHISKY SANCTUARY FUND

YEAR ENDED 31[ST] OCTOBER 2020

INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS OF

LORD WHISKY SANCTUARY FUND, CHARITY NUMBER 283483

FOR THE YEAR ENDED 31[ST] OCTOBER 2020

Independent examiner’s statement

In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:

I have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

J A GRIGGS FCA

22[nd] October 2021

LEVICKS

Chartered Accountants and Business Advisers

61 London Road Maidstone Kent ME16 8TX

Page 7

THE LORD WHISKY SANCTUARY FUND

YEAR ENDED 31[ST] OCTOBER 2020

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31[ST] OCTOBER 2019

Notes
Income and endowments from:
Donations and legacies:
Donations
Legacies
8
Miscellaneous Income
Charitable activities
-
Vet Clinic Income
-
Adoption Fees
Other trading activities
-
Fund Raising Events
-
Street Runners Ltd
Investments
-
Bank Deposit Interest
-
Income from Legatees Estates
-
Dividends – UK Equities
-
Rent Received
Total income
Expenditure on:
Raising funds
9
Charitable activities
10
Other
11
Total expenditure
Net (expenditure)/income
(Loss)/Gain on Investments
5
Net (expenditure)/income
Total funds brought forward
Total funds carried forward		 Unrestricted
Unrestricted
Funds
Funds
2020
2019
£
£
86,403
48,952
254,960
2,569,993
17,605
13,857
125,431
123,394
24,561
20,908
17,554
44,072
5,400
4,950
3,568
4,357
-
10,025
9,329
11,161
7,783
-
_
_
552,594
2,851,669
_
_
3,418
3,863
542,599
484,622
215,836
236,629
_
_
761,853
725,114
_
_
(209,529)
2,126,555
(54,566)
6,015
_
_
(263,825)
2,132,570
3,174,516
1,041,946
_
_
£2,910,691
£3,174,516

Page 8

THE LORD WHISKY SANCTUARY FUND

YEAR ENDED 31[ST] OCTOBER 2020

BALANCE SHEET

Notes
2020		 2019
£ £ £ £
Fixed Assets
Tangible assets 4 675,264 690,060
Investments 5 266,121 320,742
Current Assets
Debtors 6 153,409 111,554
Cash at bank and in hand 2,014,506 2,238,611
___ ___
2,167,915 2,350,165
Liabilities
Creditors: Amounts falling due within
one year 7 198,609 186,451
___ ___
Net Current Assets 1,969,306 2,163,714
___ ___
Total Net Assets £2,910,691 £3,174,516
========
Funds
Unrestricted Funds £2,910,691 £3,174,516
The financial statements were approved by the trustees as follows
Miss S Walkinshaw Trustee
Mr J		 Pidoux Trustee

Date: 17[th] September 2021

Page 9

THE LORD WHISKY SANCTUARY FUND

YEAR ENDED 31[ST] OCTOBER 2020

STATEMENT OF CASH FLOWS

8
Notes
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash (used in)/provided by operating activities 14
CASH FLOWS FROM INVESTING ACTIVITIES:
Sales of fixed assets
Purchases of fixed assets
Investment income
Sales of investments
Net cash provided by (used in) investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year 15		 2020
£
(243,410)
------------
600
(2,030)
20,680
55
-------------
19,305
-------------
(224,105)
-------------
2,238,611
-------------
2,014,506		 2019
£
2,195,322
-----------
-
(469,378)
25,543
-
---------
(443,835)
---------
1,751,487
-----------
487,124
-----------
2,238,611

Page 10

THE LORD WHISKY SANCTUARY FUND

NOTES TO THE ACCOUNTS – 31[ST] OCTOBER 2020

1 ACCOUNTING POLICIES

The charity constitutes a public benefit entity as defined by FRS 102.

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.

The financial statements are prepared in Sterling which is the functional currency of the charity.

The financial statements have been prepared under the historical cost convention, as modified by the inclusion of investments at market value and are in accordance with the Charities Act 2011, applicable accounting standards including FRS102 and the Accounting and Reporting Charities: Statement of Recommended Practice (SORP). There have been no changes in the accounting policies.

Motor Vehicles
4 years
Kennels and Cat Chalets 10 years
Other Equipment
3 years
Improvements to Property 10 years
Leasehold Property 193 years

No depreciation is provided on the cost of the freehold building on the grounds that it would be immaterial because its estimated residual value is not lower than its cost, given the general increase in property prices in the eighteen years since it was purchased.

Page 11

THE LORD WHISKY SANCTUARY FUND

NOTES TO THE ACCOUNTS – 31[ST] OCTOBER 2020

1 ACCOUNTING POLICIES (CONTINUED)

Creditors and accruals represent sums irrevocably committed for payment prior to the balance sheet date that were not settled as at that date

2 CONNECTED CHARITIES

Other Charities operated from Park House, Stelling Minnis, Canterbury, Kent are as follows:

The National Animal Rescue Kennels – No: 261546
The Dowding Memorial Trust – No: 265340

The trustees of these two charities are Mrs M G Todd MBE and her daughter Mrs B Marsh.

3 TRANSACTIONS WITH TRUSTEES AND OTHER CONNECTED PERSONS

As from 1[st] January 2005, commercial arrangements, instigated at the behest of the Charity Commissioners, and under a contract approved by the Charity Commissioners, commenced.

In the year ended 31[st] October 2020 the Charity made payments to Park House Sanctuary Services, (the Todd family trading in partnership) of £460,711 net of VAT, (2019 £360,065) for providing accommodation, feed and keep, and the care provided by the staff formerly employed by the charity to the animals at the sanctuary.

These sanctuary services, provided to the Charity under previous arrangements at cost, are being supplied at a commercial rate, discounted by one third.

At the balance sheet date, the Charity owed Park House Sanctuary Services £174,427 (2019 £167,153).

In the year ended 31 October 2020, the charity met expenses on behalf of Lord Whisky Centre Limited of £30,886 (2019 £21,644). At the balance sheet date, Lord Whisky Centre Limited owed the charity £119,615 (2019: £95,056). Mrs M G Todd MBE, Chief Executive Officer, and Mr E Hay, trustee, are directors of the company. Lord Whisky Centre Limited runs the tearooms which is regarded as the public face of the charity.

At the balance sheet date, the charity owed National Animal Rescue Kennels £2,560 (2019: £3,160). Mrs M G Todd MBE is a trustee of the charity. During the year NARK sold LWSF’S original veterinary ambulance, which had a net book value of £1, for £600,which reduced the amount owed to NARK by LWSF.

Transactions with related parties are interest free, unsecured and repayable on demand.

Page 12

THE LORD WHISKY SANCTUARY FUND

NOTES TO THE ACCOUNTS – 31[ST] OCTOBER 2020

4 FIXED ASSETS
Freehold
Leasehold
Motor
Kennels and
Property
Property
Cars
Equipment
£
£
£
£
COST
At 1stNovember 2019
230,865
465,000
110,828
101,640
Additions
1,905
-
-
125
Disposals
-
- (30,000)
-
_
_
__
_
At 31stOctober 2020
232,770
465,000
80,828 101,765
_
_


DEPRECIATION
At 1stNovember 2019
19,280
2,410
96,703
99,880
Charge for year
4,036
2,410
9,581
798
Disposals
-
-
(29,999)
-
_
_


At 31stOctober 2020
23,316
4,820
76,285
100,678
_
_

___
NET BOOK VALUE
At 31stOctober 2020
209,454
460,180
4,543
1,087
At 1stNovember 2019
211,585
462,590
14,125
1,760		 Total
£
908,333
2,030
(30,000)
_
880,363
_
218,273
16,825
(29,999)
_
205,099
_
675,264
690,060

The freehold property owned by the Charity is The Gate Inn, Rhodes Minnis, Canterbury, Kent.

One of the veterinary clinics run by the Charity operates from a fully equipped veterinary surgery in the premises. For purposes of fundraising and publicity, an associated limited company, Lord Whisky Centre Limited, runs a tea room from the other part of the premises.

The leasehold property bequeathed to the Charity is 5 West Bay Apartments, 85 Sea Road, Westgate on Sea, Kent, and is being held as an investment property.

The lease is due to expire on 31[st] December 2211, some 191 years and 2 months from the balance sheet date.

The closing net book value represents fixed assets used for:

Freehold Leasehold Motor Kennels and Total
Property Property Cars Equipment
£ £ £ £
 £
Direct Charitable Purposes 102,330 - 4,541 914 107,785
Fundraising and Publicity
96,624		 - - 159 96,783
Governance 10,500 - 2 14 10,516
Investment - 460,180 - - 460,180
_ _ _ _ _
TOTAL 209,454 460,180 4,543 1,087 675,264
_ _ _ _ _

Page 13

THE LORD WHISKY SANCTUARY FUND

NOTES TO THE ACCOUNTS – 31[ST] OCTOBER 2020

5 INVESTMENTS

At the balance sheet date the following significant investments were held:-

Monks Investment Trust Plc
Henderson Smaller Cos. Inv Trust Plc
Glaxo Smith Kline Plc
Edinburgh Investment Trust Plc
TR European Growth Trust Plc
Black Rock UK Income Fund
Legal and General Group Plc
Smith and Nephew Plc
Aberdeen Diversified Income + Growth Trust Plc
Henderson European Focus Trust Plc
Rio Tinto Plc
Unilever Plc
Relx Plc
Invesco Perpetual Income
Royal Dutch Shell Plc
BNY Mellon Newton Higher Income
Lion Trust Global Income Fund
Tesco Plc
Whitbread Plc
Astra Zeneca Plc
Smiths Group Plc
Barclays Plc
Pearson Plc
BP Plc
BAE Systems Plc
Vodafone Group Plc
Next Plc
Reckitt Benckiser Group Plc
Carnival Plc
Marks and Spencer Group Plc
13 Other Smaller Holdings
£
Market Value
At 1stNovember 2019
Gain/(Loss) on Investments
Rise/(Fall) in market value of investments
At 31stOctober 2020		 £
42,975
38,352
17,685
14,577
12,850
12,713
11,395
11,133
10,343
10,091
9,455
7,883
6,904
6,853
6,810
5,932
5,267
4,932
3,049
2,873
2,805
2,791
2,718
1,994
1,993
1,717
1,577
1,428
1,239
1,202
4,585
266,121
£
£
2020
320,742
(54,621)
266,121		 £
2019
314,727
6,015
320,742

From time to time the charity has received bequests which comprised holdings in various quoted companies or government stocks. Certain of these companies have been the subject of mergers or takeovers and the government stocks have matured and been redeemed at par.

The original probate value of the remaining holdings at 31[st] October 2020 was £161,431 (2019 £161,486). During the year in question, 55 1p cumulative convertible redeemable preference shares in Balfour Beatty Plc were redeemed for £1 each.

Page 14

THE LORD WHISKY SANCTUARY FUND

NOTES TO THE ACCOUNTS – 31[ST] OCTOBER 2020

6 DEBTORS

Lord Whisky Centre Ltd
Accrued Income
VAT Recoverable
Prepayments		 2020
£
119,615
1,220
25,283
7,291
153,409		 2019
£
95,056
2,616
7,042
6,840
111,554

7 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


Park House Sanctuary Services
Accruals
National Animal Rescue Kennels
8
LEGACIES RECEIVED
Legacies received in the year were from the Estates
Mrs B I Cook
Miss Y Stebbing
Mrs C Baker
Mr B M Rutherford
Mr I Mitchell
Mrs S R C Noel
Mrs B Maynard
Mrs J Bailey
Ms M Breach
Ms P Stebbing
Mr J Tierney
Mr D Moat
Ms P Caroll
Miss P A Riddick		 2020
£
174,427
21,622
2,560
198,609
of: -
£		 2019
£
167,153
16,138
3,160
186,451
£
149,015
30,000
21,183
20,589
10,000
8,148
5,806
5,000
2,000
1,169
1,000
500
300
250
254,960

At the balance sheet date, legacies of which the charity was aware but which had not yet been received, were estimated at £145,800 (2019 £145,500).

Page 15

THE LORD WHISKY SANCTUARY FUND

NOTES TO THE ACCOUNTS – 31[ST] OCTOBER 2020

Note Unrestricted Funds Unrestricted Funds Unrestricted Funds
2020 2019
£ £
9 RAISING FUNDS:
80/170 Club 1,680 870
Events running costs 1,738 2,993
______ ______
3,418 3,863
10 CHARITABLE ACTIVITIES:
Park House Sanctuary Services 399,464 369,795
Sundry Purchases 5,590 6,773
Veterinary Clinic 137,263 107,772
Depreciation – Kennels and Chalets 282 282
542,599 484,622
11 OTHER EXPENDITURE
GOVERNANCE:
Independent/Auditors Examiner’s Fees 13 1,450 3,000
Accountancy 5,055 5,180
Secretarial Staff 16,547 16,231
Printing and Stationery 16,711 11,273
Telephone 5,803 5,606
Postage 11,450 12,687
Advertising 20,152 33,565
Motor and Travel Expenses 7,251 4,536
General Expenses 2,520 4,682
Legal and Professional Fees 8,093 3,378
Management Charge 79,458 77,824
174,490 177,962
PROPERTY COSTS:
Repairs 2,736 2,346
Vet Clinic Rent 6,273 8,891
Vet Clinic Heat and Lighting 1,154 1,152
Insurance 6,537 6,214
Depreciation 6,446 6,255
West Bay Apartments 1,438 2,160
______ _____
24,584 27,018
FINANCE
Bank Charges 7,264 3,886
Bad Debt - 16,400
7,264 20,286
DEPRECIATION:
Motor Car 9,581 9,581
Equipment 516 1,782
Gain/Loss on Disposal (599) -
9,498 11,363
215,836 236,629

Page 16

THE LORD WHISKY SANCTUARY FUND

NOTES TO THE ACCOUNTS – 31[ST] OCTOBER 2020

12 TRUSTEE REMUNERATION AND EXPENSES AND KEY MANAGEMENT PERSONNEL

During the year no payments of remuneration or expenses were made to any of the trustees.

Mrs M G Todd MBE is considered to be the key management personnel of The Lord Whisky Sanctuary Fund. There was no compensation of key management personnel in the year.

13 AUDITOR’S / INDEPENDENT EXAMINER’S FEES

2020 2019
£ £
Independent examiner’s fees 1,450 -
Audit services - 3,000
1,450 3,000
14 RECONCILIATION OF NET INCOME/(EXPENDITURE)
TO NET CASH FLOW FROM OPERATING ACTIVITIE8
2020 2019
£ £
Net Income/(Expenditure) for the reporting period
(as per the statement of financial activities) (263,825) 2,132,570
Adjustments for:
Depreciation 16,825 17,900
(Gain)/Loss on Disposals (599) -
(Gains)/Losses on investments 54,566 (6,015)
Investment income (20,680) (25,543)
(Increase)/decrease in stocks - 300
(Increase)/decrease in debtors (41,855) 19,635
Increase/(decrease) in creditors 12,158 56,475
Net cash provided by/(used in) operating activities (243,410) 2,195,322
======= ========
15 ANALYSIS OF CASH AND CASH EQUIVALENTS
2020 2019
£ £
Cash at bank and in hand 2,014,506 2,238,611
-------------- --------------
2,014,506 2,238,611
======== ========