| Contents | ||
|---|---|---|
| Page | ||
| Charity Information |
||
| Trustees' Report |
2—3 | |
| Independent Examiner's |
Report | |
| Statement of Financial |
Activities | |
| Balance Sheet | ||
| Notes to the Financiai Statements | 7—10 |
| Trustees | Trustees | John Fletcher | (Chair) | ||
|---|---|---|---|---|---|
| Jim Baker | |||||
| Helen Elliott |
|||||
| Viv Streeter (resigned 04/11/20) | |||||
| Jill Venn | |||||
| Mike Holmes | |||||
| Graeme Ryan |
|||||
| Jan Leigh (retired 30/09/21) | |||||
| Patrick West | |||||
| Company | Secretary | John Fletcher | |||
| Company | Number | 2266134 | |||
| Charity | Number | 299698 | |||
| Registered | Office | April Point | |||
| Pickeridge Hill |
|||||
| Corfe | |||||
| Taunton | |||||
| Somerset | |||||
| TA3 7BY | |||||
| Independent | Examiner | Gavin Brown |
FCCA | ||
| David Collard | and Co | ||||
| Brunel House | |||||
| Bindon Road | |||||
| Taunton | |||||
| Somerset | |||||
| TA2 6BJ |
| Unrestricted | Endowment | Total funds | Total funds | |||||
|---|---|---|---|---|---|---|---|---|
| funds | funds | 2021 | 2020 | |||||
| Notes | f | E | E | |||||
| INCOME | ||||||||
| Income and endowments | from: | |||||||
| Investments: | ||||||||
| Dividends | 23,468 | 23,468 | 52,933 | |||||
| Bank compensation | payment | 1,817 | 1,817 | |||||
| Bank interest | 2 | 2 | 116 | |||||
| Total | 1,819 | 23,468 | 25,287 | 53,049 | ||||
| EXPENDITURE | ||||||||
| Raising funds: | ||||||||
| Investment portfolio management |
costs | 15,361 | 15,361 | 16,030 | ||||
| Allocated support costs: |
||||||||
| Bank charges | 39 | 39 | 40 | |||||
| Accountancy fees |
957 | 957 | 627 | |||||
| Other costs | 180 | 180 | 322 | |||||
| 1,176 | 15~361 | 16g537 | 17,019 | |||||
| Charitable activities: |
||||||||
| Arts centre grant | 96,612 | 96,612 | 114,144 | |||||
| Allocated support costs: |
||||||||
| Bank charges | 39 | 39 | 41 | |||||
| Accountancy fees |
957 | 957 | 627 | |||||
| Other costs | 180 | 180 | 322 | |||||
| 97,788 | 97,788 | 115,134 | ||||||
| Total | 98,964 | 15,361 | 114,325 | 132,153 | ||||
| NET INCOME/(EXPENDITURE) INVESTMENT GAINS/(LOSSES) |
BEFORE | (97,145) | 8,107 | (89,038) | (79,104) | |||
| Net gains/(losses) | on investments | 290,454 | 290,454 | (207,923) | ||||
| NET INCOME/(EXPENDITURE) | (97gi45) | 298~561 | 201~416 | (287~027) | ||||
| Transfers between |
funds | 84,990 | (84,9903 | |||||
| NET MOVEMENT IN FUNDS | (12,155) | 213,571 | 201,416 | (287,027) | ||||
| RECONCILIATION | OF FUNDS: | |||||||
| Total funds brought | forward | 24,517 | 1,507,570 | 1,532,087 | 1,819,114 | |||
| TOTAL FUNDS CARRIED FORWARD | 12s362 | 1,721,141 | 1,733,503 | 1,532,087 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Notes | ||||||
| FIXEDASSETS | ||||||
| Tangible assets | 4 | 35 | 35 | |||
| Investments | 5 | 1,726,141 | 1,519,722 | |||
| 1,726,176 | 1,519,757 | |||||
| CURRENT ASSETS | ||||||
| Debtors | 5,507 | |||||
| Cash at bank | 32,365 | 8,749 | ||||
| 32,365 | 14,256 | |||||
| Creditors: Amounts year |
falling due within one | (25,038) | (1s926) | |||
| NET CURRENT ASSETS | 7,32? | 12,330 | ||||
| TOTAL ASSETS LESSCURRENT LIABILITIES | 1,733,503 | 1,532,087 | ||||
| NET ASSETS | 1,733,503 | 1I532I087 | ||||
| FUNDS | ||||||
| Unrestricted funds |
12,362 | 24,517 | ||||
| Endowment funds |
1,721,141 | 1,507,570 | ||||
| TOTAL CHARITY FUNDS | 1,733,503 | 1,532,087 |
| 4.Tangible | Ass | ets | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ornaments, | ||||||||||
| books etc | ||||||||||
| Cost | ||||||||||
| As at 1 April | 2020 | 5,275 | ||||||||
| As at 31 March | 2021 | 5,275 | ||||||||
| Depreciation | ||||||||||
| As at 1 April | 2020 | 5,240 | ||||||||
| As at 31 March | 2021 | 5,240 | ||||||||
| Net Book Value | ||||||||||
| As at 31 March | 2021 | 35 | ||||||||
| As at 1 April | 2020 | 35 | ||||||||
| 5.Fixed Asset Investments | ||||||||||
| 2021 | 2020 | |||||||||
| f | ||||||||||
| Market Value | at | 1 April | 2020 | 1,519,722 | 1,772,118 | |||||
| Income received | 23,468 | 52,933 | ||||||||
| Management | charges | (15,361) | (16,030) | |||||||
| Withdrawals | (92,142) | (81,376) | ||||||||
| Revaluation | gains/(losses) | 290,454 | (207,923) | |||||||
| Market value | at | 31 March | 2021 | 1,726,141 | 1,519,722 | |||||
| Investments | at | market | value comprise:- | |||||||
| Investment | property | —Land | at White Street North | Curry | 5,000 | 5,000 | ||||
| HSBC managed | investment | portfolio —Listed shares and unit trusts | 1,693,005 | 1,496,551 | ||||||
| HSBC managed | investment | portfolio —Cash | 28,136 | 18,171 | ||||||
| 1,726,141 | 1,519,722 | |||||||||
| Historical Cost as at 31 March 2021 |
1,539,024 | 1,539,024 | ||||||||
| 6.Debtors | ||||||||||
| 2021 | 2020 | |||||||||
| E | ||||||||||
| Other debtors | 5,325 | |||||||||
| Prepayments | and accrued | income | 182 | |||||||
| 5,507 | ||||||||||
| 7.Creditors: | Amounts | Falling Due Within One | Year | |||||||
| 2021 | 2020 | |||||||||
| f | E | |||||||||
| Grant payable | to arts | centre | 21,198 | |||||||
| Accruals and | deferred | income | 3,840 | 1,926 | ||||||
| 25,038 | 1,926 |
| At 1Apr 2020 E |
Incoming resources E |
Resources expended f |
Gains/(lo E |
) | Transfers | At 31Mar 2021 |
|||
|---|---|---|---|---|---|---|---|---|---|
| General fund |
20,503 | 1,819 | (98,964) | 84,990 | 8,348 | ||||
| Revaluation | reserve | 4,014 | 4,014 | ||||||
| Unrestricted | funds | 24,517 | 1~819 | (98g964) | 84,990 | 12,362 | |||
| Tacchi-Morris | Arts Centre | Fund | 1,507,570 | 23,468 | (15,361) | 290,454 | (84,990) | 1,721,141 | |
| Endowment | funds | 1J507~570 | 23g468 | (15361) | 290 | 454 | (84990) | 1721~141 | |
| Total Charity funds | 1~532087 | 25 287 | (114~325) | 290,454 | - | 1,733,503 |
| Unrestricted | Endowment | At 31Mar | ||
|---|---|---|---|---|
| funds | funds | 2021 | ||
| E | E | E | ||
| Year ended 31March 2021 | ||||
| Tangible | assets | 35 | 35 | |
| Investments | 5,000 | 1,721,141 | 1,726,141 | |
| Current | assets | 32,365 | 32,365 | |
| Creditors | less than 1year | (25,038) | (25,038) | |
| Net assets | 12g362 | ig721g141 | ig733~503 |
| Unrestricted | Endowment | At31Mar | ||
|---|---|---|---|---|
| funds | funds | 2020 | ||
| f | E | E | ||
| Year ended 31March 2020 | ||||
| Tangible | assets | 35 | 35 | |
| Investments | 12,152 | 1,507,570 | 1,519,722 | |
| Current | assets | 14,256 | 14,256 | |
| Creditors | less than 1year | (1,926) | (1,926) | |
| Net assets | 24517 | 1~507~570 | 1~532~087 |