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2021-03-31-accounts

Annual Report 2020-2021 4F THE www.sharphamtrust.org Sharpham TRUST

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'1
I
'
~
Total income 1.378m 1.036m
Total expenditure l.072m 0 957m
Total funds 6.808m 7.598m
Voluntary
income (donations)		 0.022m 0.02701
Investment
income		 0.116m O.le1m
Charity activity income l.091m 0.503m
Investment
management		 costs o.o26m o.o26m
Cost ofcharitable activities 1.013m o.899m
Goveroance 0.022m 0.019m
Governance
as %total expenditure		 2.1696 2.1796

Registered charity name name The Sharpham Trust
Charity registration number 285767
Company registration number 01659601
Principal office and registered Sharpham
House
office Ashprington
Totnes
Devon
TQ9 7UT
The trustees Mr W Lane
Mr M Wright
Mr T Kohl
Mr D Stokes
Mrs C Rathbone
Mrs ESeward
Ms J Richardson (Appointed 1 September 2020)
Company secretary Mr M Wright
Auditor Elliott Bunker Limited
Chartered
Accountants		 &statutory auditor
61 Macrae Road
Ham Green
Bristol
BS20ODD
Bankers Lloyds
PO Box1000
Andover
BX1 1LT
Investment managers Close Brothers Asset Management
Primrose Street
London
EC2A 2BY

2021 2021 2020
Unrestricted Restricted Endowment
Note funds
f		 funds
f		 funds
f		 Total funds
f		 Total funds
f
Income and endowments
Donations
and legacies		 5 344,886 64,122 409,008 80,050
Charitable
activities		 6 503,290 503,334 1,091,236
Other trading activities 7 22,122 22,122
Investment
income		 8 101,179 101,179 116,060
Other income 9 90,713
Total income 971,477 64,166 1,035,643 1,378,059
Expenditure
Expenditure
on raising funds:
Costs ofraising
donations
and
legacies 10 4,809 4,809 5,000
Costs ofother
trading activities 11 24,305 2,512 26,817 28,046
Investment
management costs 12 26,220 26,220 26,358
Expenditure
on
charitable
activities		 13,14 838,333 60,692 899,025 1,012,897
Total expenditure 893,667 63,204 956,871 1,072,301
Net gains/(losses)
on
investments 15 711,056 711,056 (319,468)
Net income/(expenditure) and
net movement
in funds		 788,866 962 789,828 (13,710)
Reconciliation
offunds
Total funds brought forward 2,326,914 81,510 4,399,777 6,808,201 6,821,911
Total funds carried forward 3,115,780 82,472 4,399,777 7,598,029 6,808,201

31March 2021
2021 2020
8 F
Fixed assets
Tangible fixed assets
Investments		 192,$55,839
20
4,599~0		 2,848,729
4,330,610
7,465,119 7,179,239
Current assets
Debtors 21 12,687 12,153
Cash at bank and in hand 628,824 241.989
841,511 254,142
Creditors: amounts falling due within one year 22 463,601 475,180
kst current assets 177,910 (221,038)
Total assets less current liabilities 7,643,02$ 6,958,201
Creditors: amounts falgng due after more than one year 23 45,000 150,000
ket assets 7,598,029 6,808,20'I
Funds ofthe charity
Endowmentfunds 4,399,777 4.399,777
Restdcted funds 82,472 81,510
Unrestnctsd
funds		 3,115,780 2,326,914
Total charity funds 25 7,598,029 6,808,201

Year ended 31)larch 2021
2021
f		 2020
f
Cash flows from operating activities
Net income/(expenditure) 789,828 (13,710)
Adjustments
for.
Depreciation
oftangible fixed assets		 26,479 29,517
Net gains/(losses)
on investments		 (711,056) 319,468
Dividends,
interest and rents		 from investments (101,179) (116,060)
Interest payable and similar charges 10,081 12,555
Gains on disposal oftangible fixed assets (90,713)
Accrued expenses/(income) 33,434 (21,546)
Changesin:
Trade and other debtors 4,140 19,366
Trade and other creditors (147,442) 285,718
Cash generated
from operations		 (95,716) 424,595
Interest paid (10,081) (12,555)
Net cash (used in)/from
operating
activities		 (105,796) 412,040
Cash flows from investing activities
Dividends,
interest and rents		 from investments 101,179 116,060
Purchase oftangible assets (133,589) (479,117)
Proceeds from sale oftangible assets 140,713
Purchases
ofother investments		 (416,342) (617,242)
Proceeds from sale ofother investments 948,628 387,902
Net cash from/(used
in) investing
activities		 499,876 (451,664)
Cash flows from financing activities
Proceeds from loans from group undertakings (7,245)
Net cash used in financing
activities		 (7,245)
Net increase/(decrease)
in
Cash and cash equivalents		 cash and cash
at beginning		 equivalents
ofyear		 386,835
241,989		 (39,644)
281,633
Cash and cash equivalents at end ofyear 628,824 241,989

Donations and le gacies
Unrestricted Restricted Total Funds
Funds Funds 2021
6 6
Donations
Donations
Central		 10,200 10,200
Donations
Sharpham
Programme		 15,395 15,395
Donations
Barn Retreat Centre		 738 962 1,700
Donations
Sharpham
Outdoors
Grants
Grants receivable estate 15,000 15,000
Grants receivable programme
Grants receivable Awards for All - Conservation
Volunteers
Grants receivable Mindful-in-Nature 14,613 14,613
Grants receivable Wild for People 27,733 27,733
Grants receivable Coach House roof 25,000 25,000
Covid-1 9Job Retention Scheme 76,572 5,814 82,386
South Hams DC Covid-19 support 73,837 73,837
National
Heritage		 Covid-19support 143,144 143,144
344,886 64,122 409,008
Unrestricted Restdicted Total Funds
Funds
6		 Funds 2020
f
Donations
Donations
Central
Donations Sharpham
Programme		 17,157 17,157
Donations
Barn Retreat Centre		 647 4,159 4,806
Donations Sharpham
Outdoors		 503 503
Grants
Grants receivable estate 8,236 8,236
Grants receivable programme 6,262 6,262
Grants receivable Awards for All - Conservation
Volunteers 4,184 4,184
Grants receivable Mindful-in-Nature 38,902 38,902
Grants receivable Wild for People
Grants receivable Coach House roof
Covid-1 9Job Retention Scheme
South Hams DC Covid-19 support
National
Heritage		 Covid-19 support
26,543 53,507 80,050

Charitable activities
Unrestricted Restricted Total Funds
Funds Funds 2021
f
Rental income 103,977 103,977
Other 4,989 4,989
Sharpham House 1,210 1,210
Estate 137,586 137,586
Sharpham Programme 160,534 160,534
Sharpham Outdoors 54,235 54,235
Barn Retreat 37,139 37,139
Other income 3,620 3,664
503,290 44 503,334
Unrestricted Restricted Total Funds
Funds
F		 Funds
f		 2020
F
Rental income 109,323 109,323
Other 67 67
Sharpham House 186,932 186,932
Estate 143,592 143,592
Sharpham Programme 407,581 407,581
Sharpham Outdoors 60,103 60,103
Barn Retreat 181,795 181,795
Other income 1,843 1,843
1,091,236 1,091,236

Unrestricted Total Funds Unrestricted Total Funds
Funds 2021
f		 Funds 2020
f
Fundraising 22,122 22,122
Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
f f F
Income from listed investments 93,934 93,934 116,060 116,060
Income from group undertakings 7,245 7,245
101,179 101,179 116,060 116,060

9. Other income Other income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
8 8 6 F
Gain on disposal oftangible fixed assets
held for chadity's own use 90,713 90,713
10. Costs ofraising donations and legacies
Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
8
Costs ofraising donations and legacies-
Donations 4,809 4,809 5,000 5,000
11. Costs ofother trading activities
Unrestricted Restricted Total Funds
Funds Funds 2021
8 F 6
Fundraising and advertising 24,305 2,512 26,817
Unrestricted Restricted Total Funds
Funds Funds 2020
6 F F
Fundraising and advertising 26,175 1,871 28,046
12. Investment management costs
Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
F
Investment management fees 26,220 26,220 26,358 26,358

Expenditu re
on charitable activities
by		 fund type
Unrestricted Restricted TotalFunds
Funds Funds 2021
8
Centre 275,705 275,705
Estate 171,074 15,000 186,074
Sharpham Programme 158,846 17,748 176,594
Barn Retreat Centre 62,467 62,467
Sharpham Outdoors 50,735 50,735
Sharpham House 100,023 100,023
Wild For People 27,944 27,944
Support costs 19,483 19,483
838,333 60,692 899,025
Unrestdicted Restricted Total Funds
Funds Funds 2020
F 6 5
Centre 184,217 184,217
Estate 132,833 132,833
Sharpham Programme 283,342 48,069 331,411
Barn Retreat Centre 101,962 3,859 105,821
Sharpham Outdoors 53,291 53,291
Sharpham House 183,409 183,409
Wild For People
Support costs 21,915 21,915
960,969 51,928 1,012,897

14. Expenditure on ch aritab le activitie s by ac tivity type
Activities
undertaken Totalfunds Total fund
directly
f		 Support costs
f		 2021
f		 2020
f
Centre 275,705 275,705 184,217
Estate 186,074 186,074 132,833
Sharpham Programme 176,594 176,594 331,411
Barn Retreat Centre 62,467 62A67 105,821
Sharpham Outdoors 50,735 50,735 53,291
Sharpham House 100,023 100,023 183,409
Wild For People 27,944 27,944
Governance costs 19,483 19,483 21,915
879,542 19,483 899,025 1,012,897
15. Net gains/(losses) on investments
Unrestricted Total Funds Unrestricted Total Funds
Funds
f		 2021
f		 Funds
f		 2020
f
Gains/(fosses)
on other		 investment assets 711,056 711,056 (319,468) (319,468)
16. Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting):
2021 2020
F f
Depreciation
oftangible		 fixed assets 26,479 29,517
Gains on disposal oftangible fixed assets (90,713)
17. Staff costs
The total staff costs an d employee benefits forthe reporting
 period are analysed as follows:
2021
f		 2020
Wages and salaries 362,140 396,798
Social security costs 19,757 19,948
Employer contributions to pension plans 21,226 19,748
403,123 436,494



equivalent
employees
during the year is analyse
d as follows:
2021 2020
No. No.
Central 3 4
House 4 5
Estate 3 3
Programme 3 3
Barn Retreat 1 1
14 16

Tangible gxed assets
Assets
in
Land and Fixtures and course of
buildings
f		 fittings
f		 Motor vehicles
9		 construction Total
Cost
At 1 April 2020 2,614,118 429,635 11,430 16,087 3,071,270
Additions 5,791 127,798 133,589
At 31March 2021 2,614,118 435,426 11,430 143,885 3,204,859
Depreciation
At 1 April 2020 81,906 130,455 10,180 222,541
Charge for the year 9,043 16,811 625 26,479
At 31 March 2021 90,949 147,266 10,805 249,020
Carrying
amount
At 31 March 2021 2,523,169 288,160 625 143,885 2,955,839
At 31 March 2020 2,532,212 299,180 1,250 16,087 2,848,729

Investments
Shares in
Cash orcash Listed group
equivalents investments undertakings Total
6 F
Cost orvaluation
At 1 April 2020 237,183 3,813,283 280,044 4,330,510
Additions 450,397 565,945 1,016,342
Disposals l948,628) (948,628)
Transfers l600,000) (60D,OOD)
Other movements 711,055 711,056
At 31 March 2021 87,580 4,141,656 280,044 4,509,280
Impairment
At 1 April 2020 and 31 March 2021
Carrying
amount
At 31 March 2021 87,580 4,141,656 280,044 4,509,280
At 31 March 2020 237,183 3,813,283 280,044 4,330,510

Creditors: amounts falling due within
one year
2021 2020
E
Trade creditors 31,064 28,208
Amounts
owed to group undertakings		 27,726 34,971
Accruals and deferred income 291,141 253,033
Social security and other taxes 6,963 8,951
Other creditors 106,707 150,017
463,601 475,180
Creditors: amounts falling due after more than one year
2021 2020
E E
Other creditors 45,000 150,000

Unrestricted
funds
At 1 April Gains and At 31 March
2020 Income Expenditure Transfers losses 2021
E E E F E E
General funds 2,326,914 971,477 893,667 711,056 3,115,780
Restricted funds
At 1 April Gainsand At31March
2020 Income Expenditure Transfers losses 2021
E F E
Thomas Welch
Fund 81,104 81,104
Ash-Wheeler
Bursary Fund 106 106
Mindful
in Nature		 17,748 17,748
Barn Bursary Fund 300 962 1,262
Wild for People 30,456 30,456
Cycle Path 15,000 15,000
81,510 64,166 63,204 82,472

26. Analysis ofnet a sse ts between funds
Unrestricted Restricted Endowment Total Funds
Funds
f		 Funds Funds
f		 2021
f
Tangible fixed assets 1,115,839 1,840,000 2,955,839
Investments 1,868,399 81,104 2,559,777 4,509,280
Current assets 640,143 1,368 641,511
Creditors less than 1 year (463,601) (463,601)
Creditors greater than 1 year (45,000) (45,000)
Net assets 3,115,780 82,472 4,399,777 7,598,029
Unrestricted Restricted Endowment Total Funds
Funds
f		 Funds
f.		 Funds
f		 2020
Tangible fixed assets 1,008,729 1,840,000 2,848,729
Investments 1,689,629 81,104 2,559,777 4,330,510
Current assets 253,736 406 254,142
Creditors less than 1 year (475,180) (475,180)
Creditors greater than 1 year (150,000) (150,000)
Net assets 2,326,914 81,510 4,399,777 6,808,201
27. Analysis ofchanges in net debt
At
At 1 Apr 2020
f		 Cash flows
f		 31 Mar 2021
f
Cash at bank and in hand 241,989 386,835 628,824
Debt due within one year (34,971) 7,245 (27,726)
207,018 394,080 601,098