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2021-03-31-accounts
| Contents |
Page |
| Trust Information |
1 |
| The Trustees' Report |
2 |
| Statements of Trustees' Responsibilities |
4 |
| Independent Examiners Report |
5 |
| Statement of Financial Activities |
6 |
| Statement of Financial Position |
7 |
| Notes to the Accounts |
8 —16 |
| Rev. Gary Brown |
Chairman |
| Rev. Fergus Pearson |
Secretary |
| Rev. Robert Jackson |
Trustee |
| Mrs Suzanne Cooper |
Trustee |
| Ms Caroline Lowman |
Bookshop Manager |
| Mr Ken Frazer |
Treasurer |
|
Bankers |
: |
Barclays Bank Plc |
|
|
|
30 Main Street |
|
|
|
Cockermouth |
|
|
|
Cumbria |
|
|
|
CA139LQ |
|
Solicitors |
: |
Brockbank, Curwen, Cain & Hall |
|
|
|
44 Duke Street |
|
|
|
Whitehaven |
|
|
|
Cumbria |
|
|
|
CA28 7RT |
| Independent |
Examiner |
: |
Ian Scott BA (Hons), FCA, DChA |
|
|
|
Saint & Co |
|
|
|
Chartered Accountants |
|
|
|
12/13 Church Street |
|
|
|
Whitehaven |
|
|
|
Cumbria |
|
|
|
CA28 7AY |
|
Unrestricted |
Restricted |
Endowment |
Total |
Total |
|
Funds |
Funds |
Funds |
2021 |
2020 |
| Notes |
|
E |
E |
E |
E |
| Incoming Resources |
|
|
|
|
|
| Incoming resources from generated |
funds: |
|
|
|
|
| Voluntary income |
5,334 |
|
|
5,334 |
3,090 |
| Activities for generating funds: |
|
|
|
|
|
| Bookshop Rent Receivable |
|
|
|
|
|
| Income from Trading Activities 2 |
|
13,523 |
|
13,523 |
33,656 |
| Investment Income & Interest: |
|
|
|
|
|
| Interest N/S Income Bond |
|
|
|
|
|
| Grants |
|
20,169 |
|
20,169 |
|
| Interest on Bank Account |
|
|
|
|
|
| Investment Re−distribution |
|
|
688 |
688 |
2,962 |
| Total Incoming Resources |
5,334 |
33,692 |
688 |
39,714 |
39,708 |
| Resources Expended |
|
|
|
|
|
| Costs of generating funds: |
|
|
|
|
|
| Expenditure from Trad.Activ.2 |
|
22,537 |
|
22,537 |
41,532 |
| Building Maintenance |
|
|
|
|
1,109 |
| Depreciation |
400 |
|
|
400 |
400 |
| Insurance |
352 |
|
|
352 |
341 |
| Investment Re−distribution |
|
|
|
|
2,000 |
| Gifts |
|
|
|
|
|
| Total Resources Expended |
752 |
22,537 |
|
23,289 |
45,382 |
| Net Incoming Resources before |
|
|
|
|
|
| other recognised gains and losses |
4,582 |
11,155 |
688 |
16,425 |
(5,674) |
| Unrealised Gains/(Losses) |
|
|
3,106 |
3,106 |
(3,577) |
| on Investment Assets |
|
|
|
|
|
| Transfer between Funds |
3,000 |
(3,000) |
|
|
|
| Net movement in Funds |
7,582 |
8,155 |
3,794 |
19,531 |
(9,251) |
| Reconciliation of funds |
|
|
|
|
|
| Fund Balances brought forward |
|
|
|
|
|
| at 1 April 2020 |
43,207 |
(21,821) |
32,753 |
54,139 |
63,390 |
| Fund Balances carried forward |
|
|
|
|
|
| at 31 March 2021 |
50,789 |
(13,666) |
36,547 |
73,670 |
54,139 |
|
|
|
Total |
Total |
|
|
Notes |
2021 |
2020 |
|
|
|
£ |
£ |
| FIXED ASSETS |
|
|
|
|
| Tangible Fixed Assets |
|
5 |
11,240 |
11,665 |
| Investments |
|
6 |
16,547 |
12,753 |
|
|
|
27,787 |
24,418 |
| CURRENT ASSETS |
|
|
|
|
| Stocks |
|
9 |
24,224 |
23,466 |
| Debtors |
|
10 |
48,836 |
45,651 |
| Investments |
|
|
|
|
| Cash at Bank and in Hand |
|
11 |
24,285 |
8,735 |
|
|
|
97,345 |
77,852 |
| CREDITORS —amounts falling due within one year |
|
12 |
51,462 |
48,131 |
| NET CURRENT ASSETS |
|
|
45,883 |
29,721 |
| NET ASSETS |
|
|
73,670 |
54,139 |
| CAPITAL FUNDS |
|
|
|
|
| Recoupment Fund |
|
8 |
16,547 |
12,753 |
| Endowment Fund |
|
8 |
20.000 |
20.000 |
|
|
|
36,547 |
32,753 |
| INCOME FUNDS |
|
|
|
|
Restricted
−Trust General Fund |
|
|
50,789 |
43,207 |
Restricted
−Bookshop Accumulated Fund |
|
|
(13,666) |
(21,821) |
|
|
|
37,123 |
21,386 |
|
|
|
73,670 |
54,139 |
Approved by the Board of Trustees on the
and signed on its behalf by |
, |
It |
day of _N a , , , , , c __
2022 |
|
| Depreciation is calculated on the written down value each year at the |
following rates:− |
| Freehold Property |
2% straight line |
| Bookshop Display Units and Bookshop |
15% |
| Catering Equipment, Kitchen Equipment, Hardware |
|
| and Crockery, Bookshop Cassette Player and Office Equipment |
20% |
| Other Fixed Assets |
25% |
| Computer |
33% |
| Profit and Loss Account |
|
|
|
|
|
2021 |
2020 |
| Turnover |
|
13,523 |
33,656 |
| Cost of Sales |
|
8,678 |
21,786 |
Gross Profit
35.8 % |
(2020: 35.3%) |
4,845 |
11,870 |
| Administrative Expenditure: |
|
|
|
| Salary |
|
14,926 |
14324 |
| Wages |
|
|
|
| Pension Costs |
|
634 |
578 |
| Printing and Stationery |
|
|
38 |
| Postages and Return Carriage |
|
70 |
135 |
| Telephone |
|
900 |
897 |
| Repairs and Renewals |
|
644 |
210 |
| Xero Fees (Accountancy package) |
|
94 |
|
| Rates & Water Charges |
|
264 |
472 |
| Lighting and Heating |
|
1,257 |
1,091 |
| Cleaning |
|
95 |
181 |
| Depreciation |
|
25 |
24 |
| Insurance |
|
352 |
340 |
| Audit & Accountancy Fees |
|
2,007 |
1,155 |
| Bank Charges & Interest plus Credit Card |
|
494 |
617 |
| Training Costs |
|
|
215 |
| Travelling Expenses |
|
|
|
| Advertising and Brochures |
|
|
|
| Refreshments |
|
|
58 |
| Miscellaneous Expenses |
|
37 |
11 |
|
|
21,799 |
20,346 |
| Miscellaneous Income |
CAP rent |
600 |
600 |
|
Furlough |
7,340 |
|
|
Grants |
20,169 |
|
| Net Profit for the year |
|
11,155 |
(7,876) |
| URCHASE ANALYSIS |
|
|
|
|
|
|
Cost Price |
Selling |
Price |
|
2021 |
2020 |
2021 |
2020 |
| Books and Bibles |
4,768 |
12,992 |
7,585 |
20,455 |
| Recorded Stationery and Crafts |
1,700 |
4,093 |
2,581 |
5,912 |
| Cards and Posters |
2,050 |
4,146 |
3,197 |
6,734 |
| Stamps & Vouchers |
160 |
555 |
160 |
555 |
|
8,678 |
21,786 |
13,523 |
33,656 |
|
|
|
|
|
| Trust General and Endowment Funds: |
Land and |
Catering |
Domestic |
Total |
|
Buildings |
Equipment |
Equipment |
|
| Cost: |
|
|
|
|
| Balance at 1 April 2020 |
20,000 |
1,011 |
1,784 |
22,795 |
| Additions |
|
|
|
|
| Balance at 31 March 2021 |
20,000 |
1,011 |
1,784 |
22,795 |
| Accumulated Depreciation: |
|
|
|
|
| Balance at 1 April 2020 |
8,400 |
1,011 |
1,784 |
11,195 |
| Charge for year |
400 |
|
|
400 |
| Balance at 31 March 2021 |
8,800 |
|
|
11,595 |
| Net Book Value 2021 |
11,200 |
− |
− |
11,200 |
| Net Book Value 2020 |
11,600 |
|
|
11,600 |
| Bookshop Fund: |
Display |
Office |
Computer |
Total |
|
Units |
Equipment |
Equipment |
|
|
£ |
E |
£ |
£ |
| Cost |
|
|
|
|
| Balance at 1 April 2020 |
1,217 |
1,417 |
552 |
3,186 |
| Additions |
|
|
|
|
| Balance at 31 March 2021 |
1,217 |
1,417 |
552 |
3,186 |
| Accumulated Depreciation: |
|
|
|
|
| Balance at 1 April 2020 |
1,177 |
1,392 |
552 |
3,121 |
| Charge for year |
14 |
11 |
|
25 |
| Balance at 31 March 2021 |
1,191 |
1,403 |
552 |
3,146 |
| Net Book Value 2021 |
26 |
14 |
|
40 |
| Net Book Value 2020 |
40 |
25 |
|
65 |
|
|
|
− |
|
| Total Net Book Value 2021 |
|
|
|
11,240 |
| Net Book Value 2020 |
|
|
|
11,665 |
| tional Dividends received during the year were as follows: |
|
|
|
2021 |
2019 |
|
E |
£ |
| Charinco Accumulation Shares — cashed April 2013 |
|
|
| Charifund Accumulation Shares |
688 |
962 |
| Units |
|
Cost |
Market Value |
|
Merrill Lynch: |
|
|
| 471.899 |
Charinco Accumulation Shares |
4,278 |
|
|
M & G Securities: |
|
|
| 175.000 |
Charifund Accumulation Shares |
4.278 |
16.547 |
|
|
£8.556 |
16.547 |
|
|
2021 |
2020 |
|
|
|
E |
|
|
| Market Value 1 April 2020 |
|
12,753 |
17,368 |
|
| Dividends Reinvested |
|
688 |
962 |
|
| Net Unrealised Investment |
|
|
|
|
| Gains/(Losses) |
|
3,106 |
(3,577) |
|
| Funds Redistributed |
|
|
|
|
| Withdrawals |
|
|
(2,000) |
|
| Market Value 31 March 2021 |
|
16.547 |
12,753 |
|
| Historical Cost at 31 March 2021 |
|
4,278 |
4,278 |
|
| ANALYSIS OF NET ASSETS BY FUNDS |
|
|
|
|
|
Unrestricted |
Restricted |
Endowment |
Total |
|
Funds |
Funds |
Funds |
Funds |
|
E |
E |
E |
E |
| Fund Balances at 31 March 2021 |
|
|
|
|
| are represented by: |
|
|
|
|
| Tangible Fixed Assets |
(8,800) |
40 |
20,000 |
11,240 |
| Investments |
|
|
16,547 |
16,547 |
|
(8,800) |
40 |
36,547 |
27,787 |
| Current Assets: |
|
|
|
|
| Stock |
|
24,224 |
|
24,224 |
| Debtors |
48,712 |
124 |
|
48,836 |
| Investments |
|
|
|
|
| Cash at Bank and in Hand |
8,018 |
16,267 |
|
24,285 |
|
56,730 |
40,615 |
|
97,345 |
| Current Liabilities |
|
51,462 |
|
51,462 |
| Transfers between Fund |
3,000 |
(3,000) |
|
|
| Total Net Assets |
50,930 |
(13,807) |
36,547 |
73,670 |
| 8) |
ENDOWMENT FUNDS ANALYSIS |
|
|
|
|
|
|
|
Balance |
MOVEMENT OF FUNDS |
|
|
Balance |
|
|
31 March |
Dividends |
Gains/ |
Re−dist.
With |
31 March |
|
|
2020 |
|
Losses |
drawals |
2021 |
|
|
E |
|
|
|
|
|
Permanent Endowment Fund |
20,000 |
|
|
|
20,000 |
|
Recoupment Fund |
12,753 |
688 |
3,106 |
|
16,547 |
|
|
32,753 |
688 |
3 106 |
|
36,547 |
| 9) |
STOCK |
|
|
|
|
|
|
|
|
|
|
2021 |
2020 |
|
|
|
|
|
£ |
£ |
|
Books and Bibles |
|
|
|
11,471 |
10,660 |
|
Tapes, Videos and Compact Discs |
|
|
|
994 |
1,039 |
|
Crafts |
|
|
|
4,678 |
4,720 |
|
Cards |
|
|
|
7,081 |
7,047 |
|
Stamps |
|
|
|
− |
|
|
|
|
|
|
24,224 |
23,466 |
| 10) |
DEBTORS |
|
|
|
|
|
|
Trust Accounts |
|
|
|
2021 |
2020 |
|
|
|
|
|
£ |
£ |
|
Due from HMRC |
|
|
|
450 |
_ |
|
Due from the Bookshop |
|
|
|
48,262 |
45,262 |
|
|
|
|
|
48,712 |
45,262 |
|
Bookshop Account |
|
|
|
|
|
|
Trade Debtors |
|
|
|
124 |
389 |
|
Prepayments |
|
|
|
− |
|
|
|
|
|
|
124 |
389 |
|
|
|
|
|
=
=
=
= |
==== |
|
Total |
|
|
|
48,836 |
45,651 |
|
Bookshop |
2021 |
2020 |
|
Cash at Bank |
16,087 |
2,210 |
|
Cash Float |
30 |
30 |
|
Cash in Hand |
|
|
|
Petty Cash |
150 |
150 |
|
|
16,267 |
2,390 |
|
Trust |
8,018 |
6,345 |
|
Total |
24,285 |
8,735 |
| 12) |
LIABILITIES — AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
Trust Account |
2021 |
2020 |
|
Accruals |
|
|
|
|
|
=== |
|
Bookshop Account |
|
|
|
Trade Creditors |
816 |
870 |
|
Sundry Creditors |
70 |
|
|
Inland Revenue |
811 |
825 |
|
Due to the Trust |
48,262 |
45,262 |
|
Accruals |
1,503 |
1,174 |
|
Total |
51,462 |
48,131 |