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|Governors and Advisors for the Year Ended 31st March 2021|1|
|---|---|
|Governors' Report for the Year Ended 31st March 2021|2-6|
|Chairman's Report for the Year Ended 31st March 2021|7-8|
|Independent Auditors' Report to the Members ofHowick Trustees Limited|9-12|
|Statement of Financial Activities for the Year Ended 31st March 2021|13-16|
|Balance Sheet as at 31st March 2021|17|
|Statement of Cash Flows|18|
|Accounting Policies|19-22|
|Notes to the Financial Statements for the Year Ended 31st March 2021|23-31|
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|Current Financial Year|Current Financial Year|Current Financial Year|Current Financial Year|||
|---|---|---|---|---|---|
|Note Unrestricted Unrestricted Designated Restricted||||2021|2020|
||Revenue Capital Fund Fund|||Total|Total|
||Fund Fund||£|||
||£|£|£|£_|£|
|Income and endowments from:||||||
|Donations and legacies 1 75,810|||45,387|121,197|32,248|
|Income from charitable||||||
|activities:||||||
|Garden income 154,682||||154,682|175,749|
|Woods income 172||||172||
|Income from other activities:||||||
|Gross rental income 308,739||||308,739|337,132|
|Biomass income 45,534||||45,534|31,611|
|Investment income 63,697||||63,697|69,354|
|Other income:||||||
|Other income 2,513||||2,513|4,104|
|Total incoming resources|651,147||45,387|696,534 650,198||
|Expenditure on:||||||
|Costs of raising funds:||||||
|Rental property costs 2|274,400|24,471||298,871|251,276|
|Expenditure on charitable activities:||||||
|Woodlands 2|82,521|19,112||101,633 81,046||
|Garden, arboretum and||||||
|estate
2|260,807|34,198|45,387|340,392 636,741||
|Total expenditure|617,728|77,781|45,387|740,896|969,063|
|Net (expenditure) / income|33,419|(77,781)||(44,362) (318,865)||
|before gains (losses) on||||||
|investments||||||
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||Note|Unrestricted Unrestricted Designated Restricted|Unrestricted Unrestricted Designated Restricted|Unrestricted Unrestricted Designated Restricted|2021|2020|
|---|---|---|---|---|---|---|
|||Revenue Capital Fund Fund|||Total|Total|
|||Fund Fund||£|||
|||£|£|£|£|£|
|Net (expenditure) / income||33,419|(77,781)||(44,362) (318,865)||
|before gains / (losses) on|||||||
|investments|||||||
|Net realised gains on|8|||||124,297|
|investment assets|||||||
|Net realised gains on|||856||856||
|disposal of tangible fixed|||||||
|Net unrealised gains/(losses)|||||||
|on investment assets|8||568,198||568,198 (526,090)||
|Net income / (expenditure)||33,419|491,273||524,692|(720,658)|
|Transfers between funds|13|(58,379)|58,379||||
|Net movement in funds||(24,960) 549,652|||524,692 (720,658)||
|Reconciliation of funds|||||||
|Fund balances brought
forward at 1st April 2020|13|9,466 3,678,208|||3,687,674 4,408,332||
|Fund balances carried|||||||
|forward at|13|(15,494) 4,227,860|||4,212,366 3,687,674||
|31st March 2021|||||||
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|Prior Financial Year|Prior Financial Year|Prior Financial Year||||
|---|---|---|---|---|---|
|Note Unrestricted Unrestricted|||Designated Restricted||2020|
||Revenue Capital Fund Fund||||Total|
||Fund Fund|||||
||A^|£|£|£|£|
|Income and endowments from:||||||
|Donations and legacies|1 31,330|||918|32,248|
|Income from charitable||||||
|activities:||||||
|Garden income 175,749|||||175,749|
|Woods income||||||
|Income from other activities:||||||
|Gross rental income|337,132||||337,132|
|Biomass income 31,611|||||31,611|
|Investment income 69,354|||||69,354|
|Other income:||||||
|Other income 4,104|||||4,104|
|Total incoming resources|649,280|||918|650,198|
|Expenditure on:||||||
|Costs of raising funds:||||||
|Rental property costs 2|246,889 4,387||||251,276|
|Expenditure on charitable activities:||||||
|Woodlands 2|62,841 18,205||||81,046|
|Garden, arboretum and||||||
|estate
2|450,829|39,994 145,000||918|636,741|
|Total expenditure|760,559|62,586|145,000|918|969,063|
|Net (expenditure) / income|(111,279)|(62,586) (145,000)|||(318,865)|
|before gains (losses) on||||||
|investments||||||
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||Note|Unrestricted Unrestricted|Designated Restricted|Designated Restricted|2020|
|---|---|---|---|---|---|
|||Revenue Capital Fund Fund|||Total|
|||Fund Fund||||
|||£
£|£|£|£|
|Net (expenditure) / income||(111,279)
(62,586) (145,000)|||(318,865)|
|before gains / (losses) on||||||
|investments||||||
|Net realised gains on||124,297|||124,297|
|investment assets||||||
|Net realised gains on||||||
|disposal of tangible fixed||||||
|Net unrealised gains/(losses)||||||
|on investment assets||(526,090)|||(526,090)|
|Net income / (expenditure)||13,018 (588,676) (145,000)|||(720,658)|
|Transfers between funds||(64,136) 64,136||||
|Net movement in funds||(51,118) (524,540)|(145,000)||(720,658)|
|Reconciliation of funds||||||
|Fund balances brought||||||
|forward at 1st April 2029||60,584 4,202,748|145,000||4,408,332|
|Fund balances carried||||||
|forward at|13|9,466 3,678,208|||3,687,674|
|31st March 2020||||||
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||||Restated|Restated|
|---|---|---|---|---|
||Note|2021|2021 2020|2020|
|||£|£ £|£|
|Fixed assets|||||
|Tangible assets|6||1,153,719|1,172,265|
|Heritage assets|7||211,831|211,831|
|Investments|8||2,862,310|2,294,112|
||||4,227,860|3,678,208|
|Current assets|||||
|Debtors|9|75,984|62,717||
|Cash at bank||35,452|38,265||
|||111,436|100,982||
|Liabilities|||||
|Creditors amounts falling due within|||||
|one year|10|(126,930)|(91,516)||
|Net current assets|||(15,494)|9,466|
|Net assets|||4,212,366|3,687,674|
|Funds of the charity:|||||
|Unrestricted funds:|||||
|Capital|||4,227,860|3,678,208|
|Revenue|||(15,494)|9,466|
|Designated fund|||||
|Restricted fund|||||
|Total funds|13||4,212,366|3,687,674|
##
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||Note|2021|2021|2020|2020|
|---|---|---|---|---|---|
|||£|£|£|£|
|Cash used in operating activities|15||(8,131)||(117,548)|
|Cash flows from investing activities||||||
|Purchase of tangible fixed assets||(61,128)||(152,462)||
|Sale of tangible fixed assets||2,749||||
|Purchase of investments||||||
|Sale of investments||||200,000||
|Interest income||7||243||
|Dividend income||63,690||69,111||
||||5,318||(656)|
|Cash flows from financing activities||||||
|Repayment of the capital element of||||||
|hire purchase contracts||||(2,548)||
||||||(2,548)|
|(Decrease) / increase in cash and||||||
|cash equivalents|||(2,813)||(3,204)|
|Cash and cash equivalents at the||||||
|beginning of the year|||38,265||41,469|
|Total cash and cash equivalents at||||||
|the end of the year|||35,452||38,265|
|Relating to:||||||
|Bank balances and short-term deposits|||35,452||38,265|
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|Land|Nil|
|---|---|
|Buildings|2% of original cost|
|Car Park|4% of original cost|
|Biomass|4% of original cost|
|Visitor Centre and Artwork|3.33% of original cost and 10% of original cost|
|Plant and Machinery|15% reducing balance|
|Tractors|25% reducing balance
Lt>|
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|Donations and Legacies|||
|---|---|---|
||2021|2020|
||£|£|
|Grants received (restricted fund)|45,387|918|
|Grants received|52,006||
|Other donations|23,804|31,330|
||121,197|32,248|
##
||Direct Costs Staff Costs Support Costs 2021|Direct Costs Staff Costs Support Costs 2021|2020|
|---|---|---|---|
||£ £|£ £|£|
|Rental expenses|91,854
24,657|182,360 298,871|251,276|
|Woodlands|26,919 50,406|24,308 101,633 81,046||
|Garden, arboretum and estate|70,782 212,401|57,209 340,392 636,741||
||189,555 287,464|263,877 740,896|969,063|
##
||2021|2020|
|---|---|---|
||£|£|
|Insurance|13,220|13,626|
|Rates|23,271|25,516|
|Equipment repairs and renewals|4,559|12,538|
|Professional costs|86,662|66,034|
|Office expenses|27,635|21,763|
|Non-Recoverable VAT|30,749|34,029|
|Depreciation|77,781|75,208|
||263,877|248,714|
##
||2021|2020|
|---|---|---|
||£|£|
|Audit fee|8,500|7,500|
|Staff costs|778|755|
|Other support costs|4,819|4,678|
||14,096|12,933|
##
||2021|2020|
|---|---|---|
||£|£|
|Salaries|253,612|253,150|
|Employers N1|10,737|11,567|
|Pension costs|23,115|22,963|
||287,464|287,680|
##
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||Freehold||||
|---|---|---|---|---|
||Land and|Plant and|||
||Buildings Equipment||Tractors|Total|
||£|£|£|£|
|Cost or Valuation|||||
|At 1st April 2020|929,029 752,766||165,436|1,847,231|
|Additions in the year||51,728|9,400 61,128||
|Disposals|||(4,440) (4,440)||
|At 31st March 2021|929,029 804,494||170,396|1,903,919|
|Depreciation|||||
|At 1st April 2020|266,626|279,236|129,103|674,965|
|Charges for the year|16,907|49,916|10,958|77,781|
|Charge for the year|||(2,546)|(2,546)|
|At 31st March 2021|283,533|329,152|137,515|750,200|
|Net Book Amount|||||
|At 31st March 2021|645,496|475,342|32,881|1,153,719|
|At 31st March 2020|662,403|473,529|36,333 1,172,265||
##
||At Valuation At Cost Total|
|---|---|
||£ £ £|
|At 1st April 2020|211,331 211,331|
|Additions in the year||
|Disposals||
|At 31st March 2021|211,331 211,331|
##
|Summary Analysis of Heritage Asset|2021|2020|2019|2018|2017|
|---|---|---|---|---|---|
|Transactions:|£|£|£|£|£|
|Purchases and additions|||3,600|2,780||
|Donations||||||
|Total Additions|||3,600|2,780||
|Charge for impairment||||||
|Total charge for impairment||||||
|Disposals||||||
|Total Disposals||||||
|Proceeds from disposals||||||
|Total sale proceeds||||||
##
||Investment Quoted|
|---|---|
||Property Investments Total|
||£ £ £|
|At Valuation||
|At 31st March 2020|275,000 2,019,112 2,294,112|
|Additions||
|Disposals||
|Valuation changes in year|568,198 568,198|
|At 31st March 2021|275,000 2,587,310 2,862,310|
|At Cost||
|At 31st March 2021|29,600 1,199,896 1,229,496|
|At 31st March 2020|29,600 1,199,896 1,229,496|
|Schedule of Investments at 31st March 2021|||Valuation||
|---|---|---|---|---|
||||Gains /||
||Number of|Original|(Losses) in|Market|
||Units|Cost|Year|Value|
|Security||£|£|£|
|Blackrock Fund Managers Ltd BLK Charities UK|||||
|Equity A|74,452|164,833|98,574 496,146||
|RIT Capital Partners Ordinary £1|57,600|539,638|342,144 1,382,400||
|M&G Charifund Income Units|23,050|143,706|63,837|339,404|
|Legg Mason Investment Funds - Global Multi|||||
|Strategy Bond|130,317|167,709|13,136|138,267|
|Schroder Oriental Income Fund Ordinary £0.01|51,750|99,363|43,988|144,641|
|Aviva Investors UK SCVS Ltd Strategic Bond|85,664|84,647|6,519|86,452|
|||1,199,896|568,198 2,587,310||
##
||2021|2020|
|---|---|---|
||£|£|
|Trade debtors|56,498|41,248|
|Other debtors|14,036|16,855|
|Prepayments|5,450|4,614|
||75,984|62,717|
##
||2021|2020|
|---|---|---|
||£|£|
|Trade creditors|21,965|32,620|
|Other creditors|475|475|
|Payments received in advance|76,467|28,251|
|Accruals|28,023|30,170|
||126,930|91,516|
##
||2021|2020|
|---|---|---|
||£|£|
|Carrying amount of financial assets|||
|Debt instruments measured at amortised cost|70,534|58,103|
|Equity instruments measured at cost less impairment|2,587,310|2,019,112|
||2,657,844|2,077,215|
|Carrying amount of financial liabilities|||
|Measured at amortised cost|126,930|91,516|
##
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||Unrestricted|Unrestricted Designated Restricted|Unrestricted Designated Restricted|Unrestricted Designated Restricted||
|---|---|---|---|---|---|
||Revenue|Capital Major Work Fund||||
||Fund|Fund Fund|||Total|
||£|£|£|£|£|
|Balance at 1st April 2020|9,466|3,678,208|||3,687,674|
|Net (expenditure) / income in the year|33,419|491,273|||524,692|
|Transfers between funds|(58,379)|58,379||||
|Balance at 31st March 2021|(15,494)|4,227,860|||4,212,366|
|Represented by:||||||
|Fixed assets||4,227,860|||4,227,860|
|Net current assets|(15,494)||||(15,494)|
|Total Net Assets as at 31st March 2021|(15,494)|4,227,860|||4,212,366|
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||2021|2020|
|---|---|---|
||£|£|
|Net movement in funds|524,692|(720,658)|
|Depreciation|77,781|75,208|
|(Gains) on disposal of tangible fixed assets|(856)||
|Investment income|(63,697)|(69,354)|
|Net unrealised losses on investment assets|(568,198)|526,090|
|Realised (gains) on investment assets||(124,296)|
|(Increase) / decrease in debtors|(13,267)|219,836|
|Increase / (decrease) in creditors|35,414|(24,374)|
|Net cash (absorbed) / generated from operating activities|(8,131)|(117,548)|
##
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||2021
£|2021
£|2020
£|2020f|
|---|---|---|---|---|
|Income|||||
|Rents from houses and land||308,739||337,132|
|Garden and arboretum||154,682||175,749|
|Biomass income||45,534||31,611|
|Interest||7||243|
|Investment income||63,690||69,111|
|Woods||172|||
|Other Income||2,513||4104|
|Grants||97,393||918|
|Donations||23,804||31,330|
|||696,534||650,198|
|Expenditure|||||
|Woodlands and sawmill|23,650||11,411||
|Garden and arboretum|59,495||80,510||
|Salaries and pension payments|287,464||287,680||
|Rates and insurances|36,491||39,142||
|Property repairs and renewals:|||||
|Howick Hall|14,556||144,697||
|Bathing House and Old School House|3,699||14,321||
|Others|88,155||181,730||
|Vehicle and equipment expenses|4,559||12,538||
|Audit and accountancy|12,650||10,650||
|Sundry and office expenses|58,384||57,792||
|Professional fees|74,012||53,384||
||663,115||893,855||
|Depreciation|||||
|Buildings|16,907||16,907||
|Tractor|10,958||12,099||
|Plant and equipment|49,916||46,202||
|||(740,896)||(969,063)|
|Operating Deficit for the Year||(44,362)||(318,865)|