Charity registration number: 309076
St Luke's Trust (Berkshire)
Annual Report and Financial Statements
for the Year Ended 31 March 2021
St Luke's Trust (Berkshire)
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 4 |
| Statement of Trustees' Responsibilities | 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 to 19 |
St Luke's Trust (Berkshire)
Reference and Administrative Details
Trustees Dr S C Brown M A Webb Principal Office 5 Christchurch Gardens Reading Berkshire RG2 7AH Charity Registration Number 309076 Solicitors Gardner Leader White Hart House Wharf Street Newbury Berkshire RG14 5BA Bankers Barclays Bank Plc Mid Thames Group Reading Berkshire Independent Examiner UHY Ross Brooke Limited Chartered Accountants and Registered Auditors 2 Old Bath Road Newbury Berkshire RG14 1QL
Page 1
St Luke's Trust (Berkshire)
Trustees' Report
The trustees present the annual report together with the financial statements of the Charity for the year ended 31 March 2021.
Structure, governance and management
Nature of governing document
The Trust was established by a trust deed dated 1 May 1970 for charitable purposes based on the work of the late Dr Rudolf Steiner. The Trust is concerned with the advancement of the education of children and adults in need of special care, the education of children of average ability and biodynamic horticulture.
Trustees
The trustees in office are detailed on page 1.
Objectives and activities
Objects and aims
Steiner-Waldorf Education: The Trust aims to promote Steiner-Waldorf Education for children of average ability.
Values
The Trust aims to provide a warm, friendly and homely environment in which people can develop confidence in their ability to manage their lives. The trust looks to expand what it does for children of all backgrounds. Where possible, the Trust works using the values and insights of Rudolf Steiner
Page 2
St Luke's Trust (Berkshire)
Trustees' Report
Achievements and performance
The Trust was delighted to complete on the purchase of a significant extension to our rear garden at 5 Christchurch Gardens in order to expand our parent and child activities and create a unique inner city early years centre. A ‘bounce back loan’ of £50,000 was secured on favourable terms to help complete this transaction.
In March 2020 the first national lockdown was announced due to Covid-19. This has had a significant impact on the trust’s early years operation at Christchurch Gardens. However, it also gave the opportunity to review the trust’s priorities, including ensuring financial stability for the long-term.
Following the transfer of its care services to Purley Park Trust with effect from 1st October 2019, the trustees considered the best use of two of its properties: Lyndale and Orchard Dene. It was decided to retain both properties and to let these out to generate an income to support the aims of the trust. At the year-end both properties were let at market rent.
The aim of the Trust is to develop its early years centre at Christchurch Gardens. Rose Garden Early Years Centre Ltd (A Community Interest Company) is now a fully owned subsidiary of St Luke’s Trust (Berkshire). This structure is deemed the most suitable to implement the Trust’s aims in early years, maintaining overall control but also providing the service through a management structure dedicated to the early years work. A corresponding change in the structure of St Luke’s Trust itself was the creation of a limited liability company to provide the Trusteeship of the Trust (St.Luke’s Trustee Limited). The trustees of St Luke’s Trust remain the same.
With the closure of the nursery in February 2020 it was decided that Rose Garden could expand its parent and child activities immediately, given the demand and the availability of the nursery room in the mornings when most parents want a parent and child group. Our Early Years manager who was also in the middle of her Steiner-Waldorf Kindergarten Training continued on a part-time basis to provide the parent and child activities.
However, with the start of the Covid lockdown at the beginning of the reporting year (April 2020) our manager was put on furlough as parent and child activities were impossible. This had to continue until the end of the reporting year (March 2021) when activities were planned to restart - see https://www.rosegardenearlyyears.co.uk/
Income during the year was £67,125 (2020: £265,858) and expenditure was £68,408 (2020: £521,020) meaning a surplus/(deficit) in the year of (£1,283) (2020: (£255,162)).
Public benefit
The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Page 3
St Luke's Trust (Berkshire)
Trustees' Report
Preparation of financial statements
The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts 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 102.
Aims and key objectives for future periods
The aim of the Trust is to get planning permission for the garden extension and develop its early years centre at Christchurch Gardens, restart activities as soon as possible and to ensure financial stability through these challenging times.
Fixed assets
Following the sale of Bridge House in 1998, the remaining buildings were restated in the accounts at 50% of their insured value (due to the restriction of their use to activities consistent with the principles of Dr Rudolf Steiner). The land has been restated at the valuation of the Trustees. The surplus on revaluation is shown in the balance sheet as a revaluation reserve, and freehold buildings are depreciated at 2% per year.
The annual report was approved by the trustees of the Charity on 31 January 2022 and signed on its behalf by:
M A Webb Trustee
Page 4
St Luke's Trust (Berkshire)
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial 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 these financial statements,the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and 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 constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees of the Charity on 31 January 2022 and signed on its behalf by:
M A Webb Trustee
Page 5
St Luke's Trust (Berkshire)
Independent Examiner's Report to the trustees of St Luke's Trust (Berkshire)
I report on the accounts of the charity for the year ended 31 March 2021 which are set out on pages 7 to 19 .
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(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
to state whether particular matters have come to my attention.
Basis of independent examiner’s report
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 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.
Independent examiner's statement
Since the company’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 the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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:
(1) accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or (2) the accounts do not accord with those records; or
(3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
(4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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 accounts to be reached.
Dean Blunden BFP FCA UHY Ross Brooke Chartered Accountants and Registered Auditors
2 Old Bath Road Newbury Berkshire RG14 1QL
31 January 2022
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St Luke's Trust (Berkshire)
Statement of Financial Activities for the Year Ended 31 March 2021
| Note Income and Endowments: Charitable activities Investment income 3 Total Income Expenditure: Other expenditure 4 Total Expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward Note Income and Endowments: Charitable activities Investment income 3 Total Income Expenditure: Other expenditure 4 Total Expenditure Net expenditure Gross transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted funds £ 41,850 25,275 67,125 (68,408) (68,408) (1,283) 532,853 531,570 Unrestricted funds £ 121,030 33 121,063 (151,324) (151,324) (30,261) 142,763 112,502 420,351 532,853 |
Restricted funds £ - - - - - - - - Restricted funds £ 144,795 - 144,795 (369,696) (369,696) (224,901) (142,763) (367,664) 367,664 - |
Total 2021 £ 41,850 25,275 |
|---|---|---|---|
| 67,125 | |||
| (68,408) | |||
| (68,408) | |||
| (1,283) 532,853 |
|||
| 531,570 | |||
| Total 2020 £ 265,825 33 |
|||
| 265,858 | |||
| (521,020) | |||
| (521,020) | |||
| (255,162) - |
|||
| (255,162) 788,015 |
|||
| 532,853 |
All of the Charity's activities derive from continuing operations during the above two periods.
Page 7
St Luke's Trust (Berkshire)
(Registration number: 309076) Balance Sheet as at 31 March 2021
| Note Fixed assets Tangible assets 8 Investments 9 Current assets Debtors 10 Cash at bank and in hand Creditors: Amounts falling due within one year 11 Net current (liabilities)/assets Total assets less current liabilities Creditors: Amounts falling due after more than one year 12 Net assets Funds of the Charity: Unrestricted income funds Unrestricted income funds Revaluation reserve Investment property revaluation reserve Total unrestricted funds 14 Total funds |
2021 £ 633,875 865,000 1,498,875 27,371 30,934 58,305 (60,116) (1,811) 1,497,064 (413,014) 1,084,050 531,570 45,897 506,583 1,084,050 1,084,050 |
2020 £ 912,233 - |
|---|---|---|
| 912,233 | ||
| 75,630 44,051 |
||
| 119,681 (67,251) |
||
| 52,430 | ||
| 964,663 (385,913) |
||
| 578,750 | ||
| 532,853 45,897 - |
||
| 578,750 | ||
| 578,750 |
The financial statements on pages 7 to 19 were approved by the trustees, and authorised for issue on 31 January 2022 and signed on their behalf by:
M A Webb Trustee
Page 8
St Luke's Trust (Berkshire)
Notes to the Financial Statements for the Year Ended 31 March 2021
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
The financial statements are prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Exemption from preparing a cash flow statement
The Charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Going concern
The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
Income and endowments
Donations and legacies
Donations are recognised where there is entitlement, certainty of receipts and the amount can be measured with sufficient reliability.
Investment income
Investment income is recognised on a receivable basis.
Charitable activities
Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract.
Expenditure
All expenditure is recognised in the period in which a liability is incurred and has been classified under headings that aggregate all costs related to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources.
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St Luke's Trust (Berkshire)
Notes to the Financial Statements for the Year Ended 31 March 2021
Taxation
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Freehold land and buildings are shown at the Trustees' valuation. Other fixed assets are initially recorded at cost.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
| Asset class | Depreciation method and rate |
|---|---|
| Freehold property | 2% on revalued amount |
| Fixtures and equipment | 20% reducing balance basis |
| Motor vehicles | 25% reducing balance basis |
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustee's discretion in furtherance of the objectives of the Charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
On 30 September 2019, the Partnership Project between St Luke's Trust (Berkshire) and Purley Park Trust was concluded. At it's conclusion, the provision of care activities by St Luke's Trust (Berkshire) was concluded and transferred to Purley Park Trust along with associated assets, including the site at Mill Lane, Padworth with effect from 1 October 2019. The trustees believe this will enable further future development of the care services by Purley Park Trust for the benefit of the residents.
Upon conclusion of provision of care services by St Luke's Trust (Berkshire), assets of £166,484 were donated to Purley Park Trust. The restricted activities of St Luke's Trust (Berkshire) ceased and remaining restricted funds of £142,763 were consequently transferred to unrestricted funds.
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St Luke's Trust (Berkshire)
Notes to the Financial Statements for the Year Ended 31 March 2021
Pensions and other post retirement obligations
The Charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the Charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the Charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the Charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the Charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the Charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
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St Luke's Trust (Berkshire)
Notes to the Financial Statements for the Year Ended 31 March 2021
Debt instruments
Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:
(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.
(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.
(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).
(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.
(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.
(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).
Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.
With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.
Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.
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St Luke's Trust (Berkshire)
Notes to the Financial Statements for the Year Ended 31 March 2021
Derivative financial instruments
The Charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The Charity does not hold or issue derivative financial instruments for speculative purposes.
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
Hedge accounting
The Charity designates certain derivatives as hedging instruments in cash flow hedges and fair value hedges.
At the inception of the hedge relationship, the entity documents the economic relationship between the hedging instrument and the hedged item, along with its risk management objectives and clear identification of the risk in the hedged item that is being hedged by the hedging instrument. Furthermore, at the inception of the hedge the charity determines and documents causes for hedge ineffectiveness.
Cash flow hedges
The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges is recognised in other comprehensive income. The gain or loss relating to the ineffective portion is recognised immediately in profit or loss. Amounts previously recognised in other comprehensive income and accumulated in equity are reclassified to profit or loss in the periods in which the hedged item affects profit or loss or when the hedging relationship ends.
Hedge accounting is discontinued when the charity revokes the hedging relationship, the hedging instrument expires or is sold, terminated, or exercised, or no longer qualifies for hedge accounting. Any gain or loss accumulated in equity at that time is reclassified to profit or loss when the hedged item is recognised in profit or loss. When a forecast transaction is no longer expected to occur, any gain or loss that was recognised in other comprehensive income is reclassified immediately to profit or loss.
Fair value hedges
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk. The change in the fair value of the hedging instrument and the change in the hedged item attributable to the hedged risk are recognised in the line related to the hedged item in profit or loss.
Hedge accounting is discontinued when the charity revokes the hedging relationship, the hedging instrument expires or is sold, terminated, or exercised, or no longer qualifies for hedge accounting. The fair value adjustment to the carrying amount of the hedged item arising from the hedged risk is amortised to statement of financial activities from that date.
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St Luke's Trust (Berkshire)
Notes to the Financial Statements for the Year Ended 31 March 2021
2 Incoming resources from charitable activities
| Housing benefit Supported Living Private Fees Shared Costs payments Rent receivable 3 Investment income Interest receivable and similar income; Interest receivable on bank deposits Income from rents |
Unrestricted funds General £ - - - - 67,095 67,095 Unrestricted funds General £ 30 25,245 25,275 |
Total 2021 £ - - - - 67,095 67,095 Total 2021 £ 30 25,245 25,275 |
Total 2020 £ 56,456 137,458 8,342 7,337 56,232 |
|---|---|---|---|
| 265,825 | |||
| Total 2020 £ 33 - |
|||
| 33 |
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St Luke's Trust (Berkshire)
Notes to the Financial Statements for the Year Ended 31 March 2021
4 Expenditure on charitable activities
| Staff costs Wages and salaries Social security Pension costs Subcontract cost Rates Light, heat and power Insurance Property repairs Property repairs (Lyndale) Property repairs (Orchard Dene) Gardening Telephone and fax Office expenses Computer software and maintenance costs Printing, postage and stationery Trade subscriptions Hire of other assets (Operating leases) Sundry expenses Christchurch expenses Motor expenses Advertising Accountancy fees Staff training Legal and professional fees Consultancy fees Bank charges Loan interest Depreciation of freehold property Depreciation of plant and machinery Depreciation of fixtures and fittings Depreciation of motor vehicles (Profit)/loss on sale of tangible fixed assets held for charity's own use Charitable donations |
Unrestricted funds General £ - - - - 5,696 3,483 - 12,198 2,776 - - 467 - - - 94 - 1,541 - - 149 120 - 1,434 - - 9,199 16,908 - 1,482 - 1,902 6,000 63,449 |
Total 2021 £ - - - - 5,696 3,483 - 12,198 2,776 - - 467 - - - 94 - 1,541 - - 149 120 - 1,434 - - 9,199 16,908 - 1,482 - 1,902 6,000 63,449 |
Total 2020 £ 77,656 6,215 4,135 19,964 7,054 7,848 8,804 13,147 480 880 175 2,879 10,150 54 157 - 450 1,423 3,223 3,907 479 11,840 318 32,341 45,850 151 12,736 24,865 70 5,418 220 - 218,131 |
|---|---|---|---|
| 521,020 |
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St Luke's Trust (Berkshire)
Notes to the Financial Statements for the Year Ended 31 March 2021
5 Net incoming/outgoing resources
Net outgoing resources for the year include:
| Net outgoing resources for the year include: | ||
|---|---|---|
| Loss on disposal of fixed assets held for the charity's own use Depreciation of fixed assets 6 Staff costs The aggregate payroll costs were as follows: Staff costs during the year were: Wages and salaries Social security costs Pension costs |
2021 £ 1,902 18,390 2021 £ - - - - |
2020 £ - 30,573 |
| 2020 £ 77,656 6,215 4,135 |
||
| 88,006 |
No employee received emoluments of more than £60,000 during the year.
7 Taxation
The Charity is a registered charity and is therefore exempt from taxation.
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St Luke's Trust (Berkshire)
Notes to the Financial Statements for the Year Ended 31 March 2021
8 Tangible fixed assets
| 8 Tangible fixed assets |
|||
|---|---|---|---|
| Cost At 1 April 2020 Additions Disposals Transfers to investment property At 31 March 2021 Depreciation At 1 April 2020 Charge for the year Eliminated on disposals Transfers to investment property At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020 |
Freehold land and buildings £ 1,148,913 100,351 - (403,862) 845,402 245,993 16,908 - (45,446) 217,455 627,947 902,920 |
Furniture and equipment £ 22,868 - (2,991) - 19,877 13,555 1,482 (1,088) - 13,949 5,928 9,313 |
Total £ 1,171,781 100,351 (2,991) (403,862) |
| 865,279 | |||
| 259,548 18,390 (1,088) (45,446) |
|||
| 231,404 | |||
| 633,875 | |||
| 912,233 |
Revaluation of fixed assets
Freehold property was revalued at 31 March 1998 at the trustees valuation taking into consideration the restriction of use of the properties for activities consistent with the principles of Dr Rudolf Steiner. In the opinion of the trustees, the value of freehold property shown in the accounts is not in excess of their market value at 31 March 2020.
9 Fixed asset investments
Investment properties
----- Start of picture text -----
2021
£
865,000
----- End of picture text -----
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St Luke's Trust (Berkshire)
Notes to the Financial Statements for the Year Ended 31 March 2021
Investment properties
| Valuation Transfers from fixed assets Revaluation At 31 March 2021 Net book value At 31 March 2021 |
Investment properties £ 358,417 506,583 |
|---|---|
| 865,000 | |
| 865,000 |
The investment properties were valued by independent valuers.
10 Debtors
| Prepayments and accrued income Other debtors 11 Creditors: amounts falling due within one year Trade creditors Other loans Other creditors Accruals 12 Creditors: amounts falling due after one year Other loans |
2021 £ 8,672 18,699 27,371 2021 £ 33,025 22,945 2,346 1,800 60,116 2021 £ 363,014 |
2020 £ 60,075 15,555 |
|---|---|---|
| 75,630 | ||
| 2020 £ 34,153 28,535 746 3,817 |
||
| 67,251 | ||
| 2020 £ 385,913 |
13 Pension and other schemes
Defined contribution pension scheme
The Charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the Charity to the scheme and amounted to £Nil (2020 - £4,135).
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St Luke's Trust (Berkshire)
Notes to the Financial Statements for the Year Ended 31 March 2021
14 Analysis of net assets between funds
| 14 Analysis of net assets between funds | ||
|---|---|---|
| Tangible fixed assets Fixed asset investments Current assets Current liabilities Creditors over 1 year Total net assets |
Unrestricted funds General funds £ Other funds £ 581,424 45,897 358,417 481,583 64,305 - (60,116) - (413,014) - 531,016 527,480 |
Total funds £ 627,321 840,000 64,305 (60,116) (413,014) |
| 1,058,496 |
15 Related party transactions
During the year the Charity made the following related party transactions:
Rose Garden Early Years Centre Limited
St Luke's Trust (Berkshire) made an interest free loan totalling to its trading subsidiary Rose Garden Early Years Centre Limited. During the year, £6,000 (2020: £51,648) was gifted to Rose Garden Early Years Centre Limited as it was considered by the trustees that such funds were provided in furtherance of the objectives of St Luke's Trust (Berkshire) rather than for the purposes of seeking any return.. At the balance sheet date the amount due from Rose Garden Early Years Centre Limited was £12,000 (2020 - £12,000).
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