This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

PDF
Markdown

2021-02-28-accounts

			Page
Reference	and Administrative Details
Report of	the Trustees		2 to	5
Statement	ofTrustees'	Responsibilities
Report of	the Independent Auditors		7 to	9
Statement	ofFinancial	Activities	10
Statement	of Financial	Position	11 to	12
Notes to the Financial		Statements	13 to	20
Detailed Statement of		Financial Activities	21 to	22

TRUSTEES	Mr R G Fernley Chairman	Mr R G Fernley Chairman
	The Hon R Lytton Cobbold
	Mr D W Morgan
	Mr R H I Rutter Vice Chairman
	Mr E Lytton Cobbold
	Mayor of Stevenage
	Chairman North Hert	District Council
	Chairman Knebworth	Parish Council
	Miss M G Lytton Cobbold
PRINCIPAL ADDRESS	The Estate Office
	Knebworth House
	Knebworth
	Hertfordshire
	SG3 6PY
REGISTERED CHARITY NUMBER	289346
AUDITORS	Wags LLP t/a Wagstaffs
	Chartered Accountants	and Statutory	Auditors
	Richmond House
	Walkern Road
	Stevenage
	Hertfordshire
	SG13QP
SOLICITORS	Farrer and Co,
	66 Lincoln's Inn Fields,
	London,
	WC2A 3LI-I
INVESTMENT MANAGERS	Rathbone Investment	Management	Ltd,
	139New Bond Street,
	London,
	W1Y 9PA

						2021	2020
				Unrestricted	Restricted	Tota I	Tota I
				funds	fund	funds	funds
			Notes	E	f	E	f
INCOME AND ENDOWMENTS		FROM
Donations and grants				105,048		105,048	124,035
Investment income				128,554		128,554	127,315
Other income				102,225		102,225	100,570
Total				335,827		335,827	351,920
EXPENDITURE ON
Charitable activities
General				401,346		401,346	406,103
Net gains on investments				138,211		138,211	4,645
NET INCOME/(EXPENDITURE)				72,692		72,692	(49,538)
RECONCILIATION OF FUNDS
Total funds brought	forward			2.113232		2,113,232	2,162,770
TOTAL FUNDS CARRIED FORWARD				2,185,924		2,185,924	2,113,232

				2021	2020
		Unrestricted	Restricted	Total	Tota I
		funds	fund	funds	funds
	Notes	f	E	E	E
FIXED ASSETS
Tangible assets	9	1,691,506		1,691,506	1,601,506
Investments	10	493,723		493,723	449,399
		2,185,229		2,185,229	2,050,905
CURRENT ASSETS
Debtors	11	63,418		63,418	35,930
Cash at bank		153,731		153,731	66,253
		217,149		217,149	102,183
CREDITORS
Amounts falling due within one year	12	(168,954)		(168,954)	(39,856)
NET CURRENT ASSETS		48,195		48,195	62,327
TOTAL ASSETS LESSCURRENT LIABILITIES		2,233,424		2,233,424	2,113,232
CREDITORS
Amounts falling due after more than one
year	13	(47,500)		(47,500)
NET ASSETS		2,185,924		2,185,924	2,113,232

DONATIONS AND GRANTS
		2021	2020
		E	E
Donations		549	32,935
Grants		104,499	91,100
		105,048	124,035
INVESTMENT INCOME
		2021	2020
		f	f
Rents received		113,208	103,454
Listed investments		15,346	23,861
		128,554	127,315
CHARITABLE ACTIVITIES COSTS
		Support
	Direct	costs (see
	Costs f	note 6) f	Totals f
General	368,094	33,252	401,346

5.	CHARITABLE ACTIVITIES COSTS General

COMPARATIVES FOR THE STA	TEMENT OF FINAN	CIAL ACTIVITIES
		Unrestricted	Restricted	Tota I
		funds	fund	funds
		f	E	f
INCOME AND ENDOWMENTS	FROM
Donations and grants		124,035		124,035
Investment income		127,315		127,315
Other income		100,570		100,570
Tota I		351,920		351,920
EXPENDITURE ON
Charitable activities
General		406,103		406,103
Net gains on investments		4,645		4,645
NET INCOME/(EXPENDITURE)		(49,538)		(49,538)
RECONCILIATION OF FUNDS
Total funds brought forward		2,162,770		2,162,770
TOTAL FUNDS CARRIED FORWARD		2,113,232		2,113,232

TANGIBLE FIXEDASSETS
	Freehold	Long
	property	leasehold	Chattels	Totals
	E	E	E	f
Cost or valuation
At 1st March 2020	900,000	685,000	16,506	1,601,506
Revaluations		90,000		90,000
At 28th February 2021	900,000	775,000	16,506	1,691,506
Net book value
At 28th February 2021	900,000	775,000	16,506	1,691,506
At 29th February 2020	900,000	685,000	16,506	1,601,506

FIXED ASSET INVESTMENTS
	Listed	Unlisted
	investments	investments	Totals
	E	E	f
Market value
At 1st March 2020	449,320	79	449,399
Additions	24,272		24,272
Disposals	(14,283)		(14,283)
Movement in market value	34,335		34,335
At 28th February 2021	493,644	79	493,723
Net book value
At 28th February 2021	493,644	79	493,723
At 29th February 2020	449,320	79	449,399

DEBTORS:AMOUNTS FALLING DUE WITHIN	ONE YEAR
	2021	2020
	f	f
Other debtors	12,775
VAT	23,201	9,981
Prepayments	27,442	25,949
	63,418	35,930

12.	CREDITORS: AMOUNTS	CREDITORS: AMOUNTS	FALLING DUE WITHIN ONE YEAR	FALLING DUE WITHIN ONE YEAR
						2021	2020
						E	f
	Bank loans	and overdrafts		(see note 14)		2,500
	Trade creditors					31,602	2,635
	Other creditors					134,852	37,221
						168,954	39,856
13.	CREDITORS: AMOUNTS		FALLING DUE AFTER MORE THAN		ONE YEAR
						2021	2020
						f	f
	Bank loans	(see note 14)				47F500
14.	LOANS
	An analysis	ofthe maturity		of loans is given below:
						2021	2020
						E	f
	Amounts falling due within one year on demand:
	Bankloans					2,500
	Amounts falling between			one and two years:
	Bank loans	—1-2years				47,500
15.	MOVEMENT IN FUNDS
						Net
						movement	At
					At 1.3.20	in funds	28.2.21
					f	E	f
	Unrestricted	funds
	General fund				2,113,232	72y692	2~185p924
	TOTAL FUNDS				2,113,232	72,692	2,185,924

		Incoming	Resources	Gains and	Movement
		resources	expended	losses	in funds
		f	E	E	E
Unrestricted	funds
General fund		335,827	(401,346)	138,211	72,692
TOTALFUNDS		335,827	(401,346)	138,211	72,692

			Net
			movement	At
		At 1.3.19	in funds	29.2.20
		f	f	f
Unrestricted	funds
General fund		2,162,770	(49,538)	2,113,232
TOTAL FUNDS		2,162,770	(49,538)	2,113,232

			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
			E	f	E	E
Unrestricted		funds
General	fund		351,920	(406,103)	4,645	(49,538)
TOTALFUNDS			351,920	(406,103)	4,645	(49,538)

		2021	2020
		E	E
INCOME AND ENDOWMENTS
Donations and grants
Donations		549	32,935
Grants		104,499	91,100
		105,048	124,035
Investment income
Rents received		113,208	103,454
Listed investments		15,346	23,861
		128,554	127,315
Other income
Income from house opening		102,225	100,570
Total incoming resources		335,827	351,920
EXPENDITURE
Charitable activities
Garden upkeep		91,943	101,408
House maintenance		88,011	64,538
Buildings and contents	insurance	32,013	31,502
Education programme	and direct trust costs	26,424	32,073
Management overheads		23,829	37,044
General			1,532
Strategic repairs		105,874	113,952
		368,094	382,049
Support costs
Governance costs
Trustees' indemnity	insurance	2,368	2,021
Investment managers	fee	2,649	3,300
Professional fees		12,938	10,594
Carried forward		17,955	15,915

			2021	2020
			E	E
Governance costs
Brought forward			17,955	15,915
Sundry expenses			615	2,334
Auditors' remuneration			5,250	5,538
Interest payable	on	loan	117	117
Bad debt				150
COVID grant			9,315
			33,252	24,054
Total resources expended			401,346	406,103
Net expenditure	before gains and losses		(65,519)	(54,183)
Realised recognised		gains and losses
Realised gains			13,267	21,318
Unrealised gains / (losses)			34,944	(16,673)
Net expenditure			(17p308)	(49,538)