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2021-12-31-accounts

Charity registration number 296966

TED ELLIS TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

TED ELLIS TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees A R Meadows
R W Ellis
S Meadows
D J Hoare
J N Wilson
Dr R Bulmer (Appointed 13 September
2021)
Charity number 296966
Independent examiner Argents Accountants Limited
15 Palace Street
NORWICH
Norfolk
United Kingdom
NR3 1RT

TED ELLIS TRUST

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 16

TED ELLIS TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees present their annual report and financial statements for the year ended 31 December 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The Trust was set up to conserve and protect for the benefit of the public the environment as a whole in its animal and plant life and in particular to conserve, protect and maintain Wheatfen Broad. In addition,to establish a nature area and centre to house natural history specimens, and to organise or conduct lectures with a view to advancing the education of the public, including pupils of schools, in natural history.

The Trust is only a small one and has concentrated its activities on the conservation of Wheatfen and some educational aspects (see below). The financial results for the year under review are set out in this report.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

2021 was another challenging year at Wheatfen, as it was for all sections of the community because of the continuing unpredictability of the Covid 19 pandemic. Volunteers had to be stood down again but happily for shorter periods than the previous year when the pandemic emerged. Once again the Reserve remained open under the strict supervision of the Warden Will Fitch and adhering to all legal protocols. Visitor numbers held up well despite the intermittent restrictions on movements. In May the Reserve welcomed a new Assistant Trainee Warden Jordan Bowler who was chosen from a strong field of candidates. His one year contract was made possible thanks to the generous support of the John and Pamela Salter Charitable Trust who wished to give a young person the opportunity to explore a career in conservation. Jordan was able to assist Will and the volunteers in the latest stage of the Trust’s programme to replace boardwalks and bridges throughout the Reserve using specially recycled plastic. The latest section linked the pathways with the two small Broads. The cost of the 100 metres of boardwalk was made possible by a generous donation from the Septagon Charity. Work also continued on the design and planning to replace the Reserve’s signage, information boards and leaflets. In September the Warden completed his next five-year plan for Wheatfen.

Financial review

Reserves policy

Cash has been retained in the COIF Charities Deposit Fund to be available to offset any deficiencies in income needed to meet regular monthly expenditure and to fund large scale conservation projects if grant aid is not available.

It remains the Trustees' aim to cover annual expenditure on the reserve with annual income including investment income, taking one year with another, rather than to fund expenditure deficits by realisation of liquid assets, and so diminish a source of regular income.

Investment

The investment policy of the Trustees has been to buy and retain Government Stocks when the rate of interest was relatively high, to provide a regular monthly income to cover regular monthly expenditure.

Additional bequest funding has benefited the Trust's reserves. Trustees gave detailed thought and sought advice prior to increasing the proportion of ethical investment in line with the Trust's objectives and activities. Thanks to this the market value of the investments held by the Trust at 31 December 2021 stands at £974,213 (2020 : £764,333)

There has been a net unrealised gain of £58,468 (2020: gain £20,303) and a realised gain on sale of £6,975 (2019: loss £8,481).

TED ELLIS TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

Risk Management

The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

The trustees who served during the year and up to the date of signature of the financial statements were: A R Meadows

R W Ellis S Meadows D J Hoare J N Wilson Dr R Bulmer (Appointed 13 September 2021)

The Trustees hold their appointment under Clause 11 of the Declaration of Trust.

The trustees' report was approved by the Board of Trustees.

A R Meadows

Trustee

22 October 2022

TED ELLIS TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF TED ELLIS TRUST

I report to the trustees on my examination of the financial statements of Ted Ellis Trust (the charity) for the year ended 31 December 2021.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of , which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the

examination giving me cause to believe that in any material respect:

I have no concerns and 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 financial statements to be reached.

Mark Johnstone FCA

Argents Accountants Limited 15 Palace Street NORWICH Norfolk NR3 1RT United Kingdom

Dated: 27 October 2022

TED ELLIS TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021

Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£		 Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£		 Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£		 Total
Unrestricted		 Total
Unrestricted
funds funds funds
2021 2021 2021 2020
£ £ £ £
Income from:
Donations and legacies
3		 224,520 35,000 259,520 112,634
Other trading activities
4		 915 - 915 1,058
Investments
5		 15,172 - 15,172 16,331
Total income 240,607 35,000 275,607 130,023
Expenditure on:
Raising funds
6		 3,833 - 3,833 1,629
Charitable activities
Conservation
7		 41,808 32,815 74,623 110,752
Education
7		 7,053 2,446 9,499 6,293
Total charitable expenditure 48,861 35,261 84,122 117,045
Total expenditure 52,694 35,261 87,955 118,674
Net gains/(losses) on investments
11		 65,442 - 65,442 11,822
253,355
Net incoming/(outgoing) resources before transfers (261) 253,094 23,171
Gross transfers between funds
(3,033) 3,033 - -
Net movement in funds 250,322 2,772 253,094 23,171
Fund balances at 1 January 2021 992,969 - 992,969 969,798
Fund balances at 31 December 2021 1,243,291 2,772 1,246,063 992,969

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

TED ELLIS TRUST

BALANCE SHEET

AS AT 31 DECEMBER 2021

Notes 2021 2021 2020 2020
£ £ £ £
Fixed assets
Tangible assets
12
Investments
13
Current assets		 3,495
8,835
153,920
166,250
(2,263)		 107,863
974,213
1,082,076
163,987
1,246,063
2,772
1,243,291
1,246,063		 3,495
6,818
112,056
122,369
(1,310)		 107,577
764,333
871,910
Stocks
15
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within
one year
17
Net current assets 121,059
Total assets less current liabilities
992,969
Income funds
Restricted funds
18		 -
Unrestricted funds 992,969
992,969

The financial statements were approved by the Trustees on 22 October 2022

A R Meadows

Trustee

TED ELLIS TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

Charity information

Ted Ellis Trust is a an unincorporated charity.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

TED ELLIS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

(Continued)

1.5 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings n/a
Study Centre 2% reducing balance
Sheds, Bridges, Boardwalks and Jetty 15-25% reducing balance
Plant and equipment 25% reducing balance
Fixtures and fittings 15% reducing balance
Office equipment and computers 25% reducing balance
Boats 25% reducing balance

Freehold land and assets in the course of construction are not depreciated.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

TED ELLIS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies (Continued)

1.11 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.12 Taxation

The charity is exempt from tax on its charitable activities

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

TED ELLIS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2021
2021
£
£		 Unrestricted
Restricted
funds
funds
2021
2021
£
£		 Unrestricted
Restricted
funds
funds
2021
2021
£
£		 Total
Unrestricted		 Total
Unrestricted
funds funds funds
2021 2021 2021 2020
£ £ £ £
Donations and gifts 18,462 35,000 53,462 33,051
Legacies receivable 199,500 - 199,500 1,000
Grants 1,855 - 1,855 73,061
Friends Subscriptions 4,703 - 4,703 5,522
Grants receivable for core activities
224,520 35,000 259,520 112,634
Rural Payment Agency - Environmental Stewardship 1,855 - 1,855 72,991
Other - - - 70
1,855 - 1,855 73,061

4 Other trading activities

Unrestricted
Unrestricted
funds
funds
2021
2020
£
£		 Unrestricted
Unrestricted
funds
funds
2021
2020
£
£		 Unrestricted
Unrestricted
funds
funds
2021
2020
£
£
funds funds
2021 2020
£ £
Fundraising events 915 1,000
Merchandise sales - 58
Other trading activities 915 1,058

TED ELLIS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

5 Investments

Unrestricted
Unrestricted
funds
funds
2021
2020
£
£
Dividends
15,136
16,319
Interest receivable
36
12
15,172
16,331		 Unrestricted
Unrestricted
funds
funds
2021
2020
£
£
Dividends
15,136
16,319
Interest receivable
36
12
15,172
16,331		 Unrestricted
Unrestricted
funds
funds
2021
2020
£
£
Dividends
15,136
16,319
Interest receivable
36
12
15,172
16,331
funds funds
2021 2020
£ £
15,136 16,319
36 12
15,172 16,331
6
Raising funds
Unrestricted
Unrestricted
funds
funds
2021
2020
£
£		 Unrestricted
Unrestricted
funds
funds
2021
2020
£
£		 Unrestricted
Unrestricted
funds
funds
2021
2020
£
£
funds funds
2021 2020
£ £
Investment management 3,833 1,629
3,833 1,629

TED ELLIS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

7 Charitable activities

Conservation
Education
2021
2021
£
£		 Conservation
Education
2021
2021
£
£		 Conservation
Education
2021
2021
£
£		 Total
2021
Conservation
Education		 Total
2021
Conservation
Education		 Total
2021
Conservation
Education		 Total
2020
2021 2021 2020 2020
£ £ £ £ £ £
Staff costs 30,301 7,576 37,877 21,445 5,361 26,806
Maintenance work 1,771 - 1,771 3,791 - 3,791
Dredging/Dyke re-
profiling
4,468 - 4,468 33,000 - 33,000
Broadwalks 23,033 - 23,033 37,913 - 37,913
Conservation
advisory work
- - - 525 - 525
Share of support
costs (see note 8)
59,573 7,576 67,149 96,674 5,361 102,035
14,023 1,666 15,689 13,387 759 14,146
Share of
governance costs
(see note 8)
1,027 257 1,284 691 173 864
Analysis by
fund
74,623 9,499 84,122 110,752 6,293 117,045
Unrestricted funds 41,808 7,053 48,861 110,752 6,293 117,045
Restricted funds 32,815 2,446 35,261 - - -
74,623 9,499 84,122 110,752 6,293 117,045

TED ELLIS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

8
Support costs		 8
Support costs		 8
Support costs
Support
costs
Governance
costs
£
£
Depreciation
3,116
-
Rent, insurance and
utilities
7,072
-
Administration costs
2,868
-
Bank charges
289
-
Other
2,344
-
Audit fees
-
720
Legal and professional
-
564
15,689
1,284
Analysed between
Charitable activities
15,689
1,284		 2021
Support
costs
Governance
costs		 2020
£ £ £ £ £ £
3,116 - 3,116 2,931 - 2,931
7,072 - 7,072 7,301 - 7,301
2,868 - 2,868 3,091 - 3,091
289 - 289 119 - 119
2,344 - 2,344 704 - 704
- 720 720 - 864 864
- 564 564 - - -
15,689 1,284 16,973 14,146 864 15,010
15,689 1,284 16,973 14,146 864 15,010

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

10 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was: The average monthly number of employees during the year was: The average monthly number of employees during the year was:
2021
2020
Number
Number
Warden 2 1
Employment costs 2021 2020
£ £
Wages and salaries 37,877 26,806

There were no employees whose annual remuneration was more than £60,000.

TED ELLIS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

11 Net gains/(losses) on investments

Unrestricted
Unrestricted
funds
funds
2021
2020
£
£
Revaluation of investments
58,467
20,303		 Unrestricted
Unrestricted
funds
funds
2021
2020
£
£
Revaluation of investments
58,467
20,303		 Unrestricted
Unrestricted
funds
funds
2021
2020
£
£
Revaluation of investments
58,467
20,303
funds
2021
£
Revaluation of investments 58,467
Gain/(loss) on sale of investments 6,975 (8,481)
11,822
65,442

TED ELLIS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

12 Tangible fixed assets

Tangible fixed assets Tangible fixed assets Tangible fixed assets Tangible fixed assets Tangible fixed assets Tangible fixed assets Tangible fixed assets
Freehold land
and buildings
Study Centre
Sheds,
Bridges,
Boardwalks
and Jetty
Plant and
equipment
Fixtures and
fittings
Office
equipment and
computers
£
£
£
£
£
£		 Boats Total
£
£ £ £ £ £ £ £
Cost
At 1 January 2021 43,330 75,023 30,629 35,689 1,336 955 3,929 190,891
3,402
194,293
83,314
3,116
86,430
Additions 840 - - 2,562 - - -
At 31 December 2021 44,170 75,023 30,629 38,251 1,336 955 3,929
Depreciation and impairment
At 1 January 2021 - 15,954 30,625 30,515 1,336 955 3,929
Depreciation charged in the year - 1,181 1 1,934 - - -
At 31 December 2021 - 17,135 30,626 32,449 1,336 955 3,929
Carrying amount
At 31 December 2021 44,170 57,888 3 5,802 - - - 107,863
107,577
At 31 December 2020 43,330 59,069 4 5,174 - - -

TED ELLIS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

13 Fixed asset investments

Cost or valuation
At 1 January 2021
Additions
Valuation changes
Disposals
At 31 December 2021
Carrying amount
At 31 December 2021
At 31 December 2020		 Listed
investments
£
764,333
389,852
58,468		 Listed
investments
£
764,333
389,852
58,468
(238,440)
974,213
974,213
764,333
2021
2020
£
£
974,213
764,333
2021
2020
£
£
3,495
3,495
2021
2020
£
£
3,007
1,566
5,828
5,252
8,835
6,818
2021
2020
£
£
722
489
1,541
821
2,263
1,310
974,213
974,213
764,333
2020
£
764,333
2020
£
3,495
2020
£
1,566
5,252
6,818
2020
£
489
821
1,310
14
Financial instruments		 2021
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
15
Stocks		 £
974,213
Finished goods and goods for resale
16
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
17
Creditors: amounts falling due within one year		 2021
£
3,495
2021
£
3,007
5,828
8,835
Other taxation and social security
Accruals and deferred income		 2021
£
722
1,541
2,263

TED ELLIS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

18 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement
in funds
Incoming
resources
Balance at
1 January 2021
£
£		 Movement
in funds
Incoming
resources
Balance at
1 January 2021
£
£		 Movement
in funds
Incoming
resources
Balance at
1 January 2021
£
£		 Movement
in funds
Incoming
resources
Balance at
1 January 2021
£
£		 Movement
in funds
Incoming
resources
Balance at
1 January 2021
£
£		 Movement
in funds
Incoming
resources
Balance at
1 January 2021
£
£		 Movement
in funds
Incoming
resources
Balance at
1 January 2021
£
£
Incoming
resources
Balance at
1 January 2021		 Incoming
resources		 Resources
expended
£ £ £ £ £
15,000
20,000
35,000
Trainee warden funding - - (12,228) -
Boardwalk funding - - (23,033) 3,033
- - (35,261) 3,033
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2021
2021
£
£
2021 2021 2021
£ £ £
Fund balances at 31 December 2021 are
represented by:
Tangible assets 107,863 - 107,863
Investments 974,213 - 974,213
Current assets/(liabilities) 161,215 2,772 163,987
1,243,291 2,772 1,246,063

19 Analysis of net assets between funds

20 Related party transactions

There were no disclosable related party transactions during the year (2020 - none).