2021-01-31-accounts - Orchard Vale Trust Limited

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

The Trustees during the	year were:
Christopher Absolon	Peter Crump
Rosemary Parr	Joanna Sudell
Kate Steele	Martha Venner
Adrian Lumley-Smith	Tony Mullin
Hannah Allan	John Fox

					Unrestricted	Restricted	2021	2020
					funds	funds	Total	Total
				Notes
INCOME
Voluntary	income				27,641	27,801	55,442	96,887
Charitable	activities			3	2,140,918		2,140,918	1,911,674
Investment	income			3	2,427		2,475	3,394
Income from trading		subsidiary				15,758	15,758	47,687
TOTAL INCOME					2,170,986	43,607	2,214,593	2,059,642
EXPENDITURE
Fundraising	costs			4	2,816		2,816	7,329
Charitable	activities			4	2,023,362	54,938	2,078,300	2,121,292
TOTAL EXPENDITURE					2,026,178	54,938	2,081,116	2,128,621
NET (EXPENDITURE)/INCOME			FOR
THE YEAR					144,808	(11,331)	133,477	(68,979)
TRANSFERS					1,091	(1,091)
NET MOVEMENT IN FUNDS					145,899	(12,422)	133,477	(68,979)
TOTAL FUNDS	AT 1FEBRUARY		2020		2,179,816	49,829	2,229,645	2,298,624
TOTAL FUNDS	AT31JANUARY		2021		2,325,715	37,407	2,363,122	2,229,645

							CHARITY	CHARITY
						2020		2020
FIXED ASSETS
Tangible fixed assets
within one year
NET CURRENT ASSETS
TOTAL ASSETS LESSCURRENT			I IABILITIES
CREDiTORS: amounts	due after more
than one		year					(202,010]	(230,434)
NETASSETS				13	2,363,122	2,229,645	2,3&,399	2,227,880
FUNDS
Restricted funds					3?,407	49,829
Unrestricted funds
General funds				12	716,200	589,519	716,200	589,519
Designated		funds		12	1,609,51S	1,590,297	1,609,51S	1,590,297
Total unrestricted			funds		2,325,715	2,179,816	2,325,71S	2,179,816
TOTAL FUNDS					2,363,122	2,229,645	2„360,399	2,227,880

				2021	2020
			Notes	f
NET CASH FLOW PROVIDED BY	OPERATING ACTIVITIES			183,590	24,804
CASH FLOWS FROM INVESTING	ACTIVITIES
Interest received				2,475	3,394
CASH FLOWS FROM FINANCING	ACTIVITIES
Fixed asset additions				(26,513)	(64,416)
Proceeds from the sale offixed assets				1,550	4,550
Bank loan repayments				{32,397)	(31,166)
NET CASH FLOW				128,705	(62,834)
Change in cash and cash equivalents		in the year		128,705	(62,834)
Cash and cash equivalents	at start of	the year		562,318	625,152
Cash and cash equivalents	at the end	ofthe year		691,023	562,318

					2021	2020
1	RECONCILIATION OF NET	INCOME TO NET CASH FLOW
	FROM OPERATING ACTIVITIES
	Net income/(expenditure)	for	the year		133,477	(68,979)
	Interest received				(2,475)	(3,394)
	Interest paid				5,046	5,509
	Depreciation				41,368	78,121
	Profit on disposal offixed	assets			(1,028)	(1,104)
	Decrease/(increase) in stocks				2,025	(2,025)
	Decrease/(increase) in debtors				13,247	(1,255)
	(Decrease)/increase in creditors				(8,070)	17,931
	Net cash flow from operating		activities		183,590	24,804
2	ANALYSIS OF CASH AND CASH		EQUIVALENTS
	Cash at bank and in hand				691,023	562,318
3	ANALYSIS OF CHANGES IN	NET DEBT		At 1		At 31
				Feb 2020	Cash flows	Jan 2021
	Cash at bank and in hand			562,318	128,705	691,023
	Debt due within one year			(25,996)	(1,073)	(27,069)
	Debt due after one year			(230,434)	28,424	(202,010)
				305,888	156,056	461,944

INCOME
	Unrestricted	Restricted	2021	2020
	funds	funds	Total	Total
			f	f
VOLUNTARY INCOME
Donations and legacies	22,176	27,801	49,977	75,355
Fundraising	5,465		5,465	21,532
Total voluntary income	27,641	27,801	55,442	96,887
CHARITABLE ACTIVITIES
Fees and contributions	2,047,211		2,047,211	1,902,680
Covid 19related grants	86,887		86,887
Other income	6,820		6,820	8,994
Total charitable activities	2,140,918		2,140,918	1,911,674
INVESTMENT INCOME
Investment income	2,427	48	2,475	3,394
INCOME FROM TRADING SUBSIDIARY		15,758	15,758	47,687
TOTAL INCOME	2,170,986	43,607	2,214,593	2,059,642

N	OTES TO THE AC	CO	U	NTS FOR THE	YEAR ENDED 3	1JANUARY 2	021
4	EXPENDITURE
					Unrestricted	Restricted	2021	2020
					funds	funds	Total	Total
	FUNDRAISING COSTS
	Fundraising and publicity				2,816		2,816	7,329
	CHARITABLE ACTIVITIES
	Costs ofincome from	public bodies			244,739	8,010	252,749	255,262
	Personal allowances	paid		to residents	56,343		56,343	57,144
	Employed staff costs	(see		note 5)	1,602,136	35,602	1,637,738	1,605,954
	Payroll costs				3,610		3,610	2,545
	Staff recruitment costs				6,591		6,591	4,426
	Indemnity Insurance				1,367		1,367	561
	Lega I fees				7,746		7,746	11,728
	Telephone and internet				4,870		4,870	3,596
	Bank charges				1,809		1,809	1,967
	Care Standards Commission				4,333		4,333	4,333
	Interest payable				5,046		5,046	5,509
	Staff training and welfare				24,259		24,259	25,455
	Travel costs				656		656	3,762
	Depreciation				38,008	3,360	41,368	78,121
	Profit on disposal offixed			assets	(1,028)		(1,028)	(1,104)
	Office costs, stationery		and advertising		8,790		8,790	2,667
	Subscriptions				4,147	35	4,182	2,866
	Sundry expenses				648		648	1,328
	Accountancy fees				4,792	690	5,482	4,750
	Auditors remuneration				4,500		4,500	4,500
	Orchard Vale Enterprises			CIC		7,241	7,241	45,922
	Total charitable activities				2,023,362	54,938	2,078,300	2,121,292
	TOTAL EXPENDITURE				2,026,178	54,938	2,081,116	2,128,621

EMPLOYED STAFF COSTS AND NUMBERS
Employed staff costs were as follows:	2021	2020
		f
Salaries and wages	1,522,780	1,493,495
Social security costs	90,651	88,464
Pension costs	24,307	23,995
	1,637,738	1,605,954

					2021	2020
					No.	No.
Engaged	on	charitable	activities		69	70
Engaged	on	management		and administration	4	4

7	TANGIBLE FIXED ASSETS	TANGIBLE FIXED ASSETS
	GROUP AND	CHARITY
				Freehold	Equipment
				land	and
				8 buildingsf	Vehiclesf	Totalf
	COST
	At 1February	2020		2,769,543	206,505	2,976,048
	Additions in year			26,513		26,513
	Disposals in year				(10,810)	(10,810)
	Transfers			(14,365)	14,365
	At 31January	2021		2,781,691	210,060	2,991,751
	DEPRECIATION
	At 1February	2020		922,816	138,297	1,061,113
	Charge for the year			21,052	20,316	41,368
	Eliminated on	disposal			(10,288)	(10,288)
	Transfers			(770)	770
	At 31January	2021		943,098	149,095	1,092,193
	NET BOOK VALUE
	At 31January	2021		1,838,593	60,965	1,899,558
	At 31January	2020		1,846,727	68,208	1,914,935
8	DEBTORS
			GROUP		CHARITY
			2021	2020	2021	2020
			f		f	f
	Trade debtors		71,476	75,221	71,128	75,221
	Other debtors				31,376	29,926
	Taxation recoverable		1,995	1,194	1,995	1,194
	Prepayments	and accrued income	2 133	12,436	2 133	12,436
			75,604	88,851	106,632	118,777

			GROUP		CHARITY
			2021	2020	2021	2020
			f	f	f	f
Bank loans (see note		10)	27,069	25,996	27,069	25,996
Trade creditors			24,405	34,594	24,310	33,162
Taxation	and social security		28,064	25,484	27,615	24,885
Other creditors			8,487	7,917	8,487	7,917
Accruals	and deferred	income	13,028	14,059	13,028	14,059
			101,053	108,050	100,509	106,019
CREDITORS: amounts		falling due	after more than one year
			GROUP		CHARITY
			2021	2020	2021	2020
			f		f	f
Bank loans			202,010	230,434	202,010	230,434
Secured	loans and creditors due		after more than five years:
			GROUP		CHARITY
			2021	2020	2021	2020
					f	f
Amounts	falling due for payment		after more
than five	years		86,837	119,252	86,837	119,252

Year ended 31January 2021	Restricted	Designated	General	Total
	funds	funds	funds	funds
	f	f		f
Tangible fixed assets	10,079	1,838,594	50,885	1,899,558
Net current assets	27,328	(27,069)	665,315	665,574
Long term liabilities		(202,010)		(202,010)
NET ASSETS	37,407	1,609,515	716,200	2,363,122
Year ended 31January 2020	Restricted	Designated	General	Total
	funds f	fundsf	funds f	funds f
Tangible fixed assets	13,438	1,846,727	54,770	1,914,935
Net current assets	36,391	(25,996)	534,749	545,144
Long term liabilities		(230,434)		(230,434)
NET ASSETS	49,829	1,590,297	589,519	2,229,645

The results f	or the CICfor the period ended 31Januar	y 2021are as follows:
		2021	2020
		f	f
Turnover		19,398	47,687
Cost ofsales		(7,241)	(29,816)
Administrative	expenses	(11,199)	(15,507)
Net profit		958	2,364
Corporation	tax		(599)
		958	1765

			2021	2020
			f
Income
Donations	and	Legacies	55,442	96,887
Charitable	activities		2,054,031	1,911,674
Investment	income		2,475	3,394
Covid 19Grants			86,887
			2,198,835	2,011,955
Expenditure
Charitable	activities		2,066,316	2,082,699
Surplus/(deficit)		for the year	132,519	(70,744)

				Unrestricted	Restricted	2020
				funds	funds	Total
			Notes
INCOME
Voluntary	income			38,310	58,577	96,887
Charitable	activities			1,911,674		1,911,674
Investment	income			3,202	192	3,394
Income from trading		subsidiary			47,687	47,687
TOTAL INCOME				1,953,186	106,456	2,059,642
EXPENDITURE
Fundraising	costs			7,329		7,329
Charitable	activities			2,031,964	89,328	2,121,292
TOTAL EXPENDITURE				2,039,293	89,328	2,128,621
NET (EXPENDITURE) / INCOME FOR THE YEAR				(86,107)	17,128	(68,979)
TOTAL FUNDS AT 1 FEBRUARY 2019				2,265,923	32,701	2,298,624
TOTAL FUNDS AT31JANUARY 2020				2,179,816	49,829	2,229,645

				Funds at				Funds at
				1February				31January
				2019	Income	Expenditure	Transfers	2020
						f
RESTRICTED FUNDS
Community Gardening				5,000		(269)		4,731
Funeral fund				18,101	192			18,293
Big Lottery Fund				9,600	42,926	(39,000)		13,526
IT Delivery Fund					15,651	(4,137)		11,514
Orchard Vale Enterprises			CIC		47,687	(45,922)		1,765
Total restricted	funds			32,701	106,456	(89,328)		49,829
DESIGNATED FUNDS:
Property Capital		fund		1,613,723		(60,903)	37,477	1,590,297
UNRESTRICTED	GENERAL
FUND:
Genera I funds				652,200	1,953,186	(1,978,390)	(37,477)	589,519
Total unrestricted		funds		2,265,923	1,953,186	(2,039,293)		2,179,816