| Page | ||||
|---|---|---|---|---|
| Report ofthe Trustem | I | to | 4 | |
| Independent Examiuer's |
Report | |||
| Statement ofFinancial Activities |
||||
| Balance Sheet | 7 | to | 8 | |
| Notes to the Financial Statements | 9 | to | 20 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | funds | funds | |||
| Notes | f. | |||||
| INCOME AND ENDOWMENTS FROM | ||||||
| Donations and legacies |
763 | 763 | 538 | |||
| Other trading activities |
3 | 100,491 | 100,491 | 124,156 | ||
| Investment income |
4 | 346,943 | 346,943 | 348,118 | ||
| Other income | 29,111 | 29,111 | ||||
| Total | 477,308 | 477,308 | 472,812 | |||
| EXPENDITURE ON | ||||||
| Raising funds | 37,433 | 37,433 | 34,026 | |||
| Charitable activities |
||||||
| Concessionary rents given |
10,466 | 10,466 | 12,420 | |||
| Donations ofequipment | 4,898 | 4,898 | ||||
| Other | 9 | 428,275 | 428,275 | 620,238 | ||
| Total | 481,072 | 481,072 | 666,684 | |||
| Net gains/(losses) on investments |
10,916 | 10,916 | (8,239) | |||
| NET INCOME/(EXPENDITURE) | 7,152 | 7,152 | (202,111) | |||
| Other recognised gains/Uosses) |
||||||
| Actuarial gains/(losses) on defined |
benefit | |||||
| schemes | (22,345) | (22,345) | ||||
| Net movement in funds |
(15,193) | (15,193) | (202,111) | |||
| RECONCILIATION OF FUNDS |
||||||
| Total funds brought fortvard |
885,464 | 397,276 | 1,282,740 | 1,484,851 | ||
| TOTAL FUNDS CARRIED FORWARD | 870,271 | 397,276 | 1,267,547 | 1,282,740 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| Notes | |||||
| FIXEDASSETS | |||||
| Investments | |||||
| Investments | 14 | 10,916 | 37,260 | 48,176 | 36,060 |
| Investment property |
15 | 1,795,704 | 343,087 | 2,138,791 | 2,138,791 |
| 1,806,620 | 380,347 | 2,186,967 | 2,174,851 | ||
| CURRENT ASSETS | |||||
| Debtors | 16 | 85,374 | 85,374 | 72,800 | |
| Cash at bank and in hand | 56,329 | 16,929 | 73,258 | 38,949 | |
| 141,703 | 16,929 | 158,632 | 111,749 | ||
| CREDITORS | |||||
| Amounts falling due within one year |
17 | (214,931) | (214,931) | (248,108) | |
| NET CURRENT ASSETS | (73,228) | 16,929 | (56,299) | (136,359) | |
| TOTAL ASSETSLESSCURRENT | |||||
| LIABILITIES | 1,733,392 | 397,276 | 2,130,668 | 2,038,492 | |
| CREDITORS | |||||
| Amounts falling due atter more than one year |
18 | (799,121) | (799,121) | (714,097) | |
| PENSION LIABILITY | 22 | (64,000) | (64,000) | (41,655) | |
| NET ASSETS | 870,271 | 397,276 | 1,267,547 | 1,282,740 | |
| FUNDS | 21 | ||||
| Unrestricted funds |
870,271 | 885,464 | |||
| Restricted funds |
397,276 | 397,276 | |||
| TOTAL FUNDS | 1,267,547 | 1,282,740 |
| DONATIONS | AND LEGACIES | ||
|---|---|---|---|
| 2021 | 2020 | ||
| Other income | 763 | 538 | |
| OTHER TRADING ACTIVITIES | |||
| 2021 | 2020 | ||
| Cafd income | 7,453 | 22,571 | |
| Photocopying | recharge | 204 | 333 |
| Other rental income | 16,549 | 16,527 | |
| Post recharge | 8,057 | 13,404 | |
| Electricity recharge | 20,376 | 23,833 | |
| Gas recharge | 139 | ||
| Water recharge | 16,426 | 16,217 | |
| Insurance recharge |
31,426 | 31,132 | |
| 100,491 | 124,156 | ||
| INVESTMENT INCOME | |||
| 2021 | 2020 | ||
| Rents received | 346,943 | 348,118 |
| Other trading activities | Other trading activities | Other trading activities | ||||||
|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||||
| 8 | ||||||||
| Purchases | 4,073 | 11,264 | ||||||
| Staffcosts | 33,360 | 22,762 | ||||||
| 37,433 | 34,026 | |||||||
| 6. | CHARITABLE ACTIVITIES | COSTS | ||||||
| Grant | ||||||||
| funding of | ||||||||
| activities | ||||||||
| Direct | (see note | |||||||
| Costs | 7) | Totals | ||||||
| Concessionary | rents given | 10,466 | 10,466 | |||||
| Donations ofequipment | 4,898 | 4,898 | ||||||
| 4,898 | 10,466 | 15,364 | ||||||
| 7. | GRANTS PAYABLE | |||||||
| 2021 | 2020 | |||||||
| Concessionary | rents given | 10,466 | 12,420 | |||||
| The total grants paid to | institutions | during | the year was as follows: | |||||
| 2021 | 2020 | |||||||
| Start up concessionaty | rents given | 10,466 | 12,420 | |||||
| 8. | SUPPORT COSTS | |||||||
| Governance | ||||||||
| Management | Finance | costs | Totals | |||||
| f. | ||||||||
| Other resources | expended | 422,895 | 2,622 | 2,758 | 428,275 |
| 2021 | 2020 | |||||||
|---|---|---|---|---|---|---|---|---|
| Other opemting | leases | 5,669 | 5,442 | |||||
| Covid Job Retention Scheme |
29,111 | |||||||
| Independent examiner's |
fee | 2,700 | 2,667 | |||||
| TRUSTEES' REMUNERATION | AND BENEFITS | |||||||
| 2021 | 2020 | |||||||
| f | ||||||||
| Trustees' | salaries | 53,003 | 51,204 | |||||
| Trustees' | social security | 3,770 | 3,552 | |||||
| Trustees' | pension | contributions | to | money purchase | schemes | 2,988 | 2,840 | |
| 59,761 | 57,596 |
| Trustees' expenses |
||||||
|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||
| Tnistees' expenses | 2,458 | |||||
| 12. | STAFF COSTS | |||||
| 2021 | 2020 | |||||
| Wages and salaries | 109,406 | 96,209 | ||||
| Social security costs | 6,299 | 6,471 | ||||
| Other pension costs | 4,964 | 4,561 | ||||
| 120,669 | 107,241 | |||||
| The average monthly | number ofemployees | during | the year was as follows: | |||
| 2021 | 2020 | |||||
| Management | I | I | ||||
| Administrative | I | I | ||||
| Cafe staff | 2 | I |
| Fixtures | ||||||
|---|---|---|---|---|---|---|
| and | Computer | |||||
| fittings | equipment | Totals | ||||
| COST | ||||||
| At I April 2020 and 31 | March 2021 | 10,337 | 14,589 | 24,926 | ||
| DEPRECIATION | ||||||
| At I April 2020 and 31 March 2021 | 10,337 | 14,589 | 24,926 | |||
| NET BOOK VALUE | ||||||
| At 31 March 2021 | ||||||
| At 31 March 2020 | ||||||
| 14. | FIXEDASSET INVESTMENTS | |||||
| Unlisted | ||||||
| investments | ||||||
| MARKET VALUE | ||||||
| At I April 2020 | 36,060 | |||||
| Additions | 1,200 | |||||
| Revaluations | 10,916 | |||||
| At 31 March 2021 | 48,176 | |||||
| NFT BOOK VALUE | ||||||
| At 31 March 2021 | 48,176 | |||||
| At 31 March 2020 | 36,060 | |||||
| There were no investment | assets outside the UK. | |||||
| Cost or valuation at 31 March 2021 is represented |
by: | |||||
| Unlisted | ||||||
| investments | ||||||
| Valuation in 0 |
48,176 | |||||
| 15. | INVESTMENT PROPERTY | |||||
| FAIR VALUE | ||||||
| At I April 2020 | ||||||
| and 31 March 2021 | 2,138,791 | |||||
| NET BOOK VALUE | ||||||
| At 31 Match 2021 | 2,138,791 | |||||
| At 31 March 2020 | 2,138,791 |
| DEBTORS:AMOUNTS | FA | LLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| Trade debtors | 35,089 | 15,888 | |||
| Prepayments and accrued |
income | 50,285 | 56,912 | ||
| 85,374 | 72,800 | ||||
| CREDITORS: AMOUNTS | FALLING DUE WITHIN ONE YEAR | ||||
| 2021 | 2020 | ||||
| Bank loans and overdrags | (see note 19) | G7,644 | 54,037 | ||
| Tmde creditors | 63,70G | 52,617 | |||
| Social security and other taxes |
717 | ||||
| VAT | 15,531 | 2,G56 | |||
| Other creditors | 42,075 | 46,470 | |||
| Accruals and deferred income |
25,258 | 92,328 | |||
| 214,931 | 248,108 | ||||
| CREDITORS: AMOUNTS | FALLING DUE AFTER MORE THAN ONE | YEAR | |||
| 2021 | 2020 | ||||
| Bank loans (see note 19) | 799,121 | 714,097 | |||
| The bank loan entries interest | at 3.00A above base and is charged on a monthly | basis. | |||
| LOANS | |||||
| An analysis ofthe maturity | ofloans is given below: | ||||
| 2021 | 2020 | ||||
| Amounts falling due within one year on demand: |
|||||
| Bank loans | 67,644 | 54,037 | |||
| Ainounts falling between one |
and two years: | ||||
| Bank loans - 1-2years | 70,157 | 55,732 | |||
| Amounts falling due between |
two and five yeats: | ||||
| Bank loans —2-5 years |
223,739 | 177,902 | |||
| Amounts falling due in more than five yeats: |
|||||
| Repayable by instalments: |
|||||
| Bank loans more 5 yr by instal | 505,225 | 480,463 |
| 2021 | 2020 |
|---|---|
| 866,765 | 768,134 |
| MOVE | MEN | T IN FUNDS |
|||
|---|---|---|---|---|---|
| Net | |||||
| nlovenlent | At | ||||
| At 1.4.20 | hlfunds | 31.3.21 | |||
| Unrestricted | funds | ||||
| General | fimd | 885,464 | (15,193) | 870,271 | |
| Restricted funds |
|||||
| Capital | fund | 356,342 | 356,342 | ||
| Training | fund | 40,934 | 40,934 | ||
| 397,276 | 397,276 | ||||
| TOTAL FUNDS | 1,282,740 | (15,193) | 1,267,547 |
| Incoming | Resources | Gains and | Movement | |||
|---|---|---|---|---|---|---|
| resources | expended | losses | ln funds | |||
| Unrestricted | funds | |||||
| General | fund | 477,308 | (481,072) | (11,429) | (15,193) | |
| TOTAL | FUNDS | 477,308 | (481,072) | (11,429) | (15,193) |
| Net | ||||
|---|---|---|---|---|
| movement | At | |||
| At 1.4.19 | in funds | 31.3.20 | ||
| Unrestricted | funds | |||
| General fund |
1,079,336 | (193,872) | 885,464 | |
| Restricted funds | ||||
| Capital fund | 356,342 | 356,342 | ||
| Training fund |
49,173 | (8,239) | 40,934 | |
| 405,515 | (8,239) | 397,276 | ||
| TOTAL FUNDS | 1,484,85I | (202,111) | 1,282,740 |
| Incoming | Resources | Gains and | Movement | |||
|---|---|---|---|---|---|---|
| resources | expended | losses | in funds | |||
| f | 6 | |||||
| Unrestricted | funds | |||||
| General | fund | 472,812 | (666,684) | (193,872) | ||
| Restricted funds |
||||||
| Training | fund | (8,239) | (8,239) | |||
| TOTAL | FUNDS | 472,812 | (666,684) | (8,239) | (202,111) |
| Net | ||||
|---|---|---|---|---|
| movement | At | |||
| At 1.4.19 | in funds | 31.3.21 | ||
| Unrestricted | funds | |||
| General fund |
1,079,336 | (209,065) | 870,271 | |
| Restricted funds | ||||
| Capital fund | 356,342 | 356,342 | ||
| Training fimd |
49,173 | (8,239) | 40,934 | |
| 405,515 | (8,239) | 397,276 | ||
| TOTAL FUNDS | 1,484,851 | (217,304) | 1,267,547 |
| Incoming | Resources | Gains and | Movement | |||
|---|---|---|---|---|---|---|
| resources | exfieltded | losses | in funds | |||
| f. | ||||||
| Unrestricted | funds | |||||
| General | fund | 950,120 | (1,147,756) | (11,429) | (209,065) | |
| Restricted funds |
||||||
| Training | fund | (8,239) | (8,239) | |||
| TOTAL | FUNDS | 950,120 | (1,147,756) | (19,668) | (217,304) |
| Assumptions | |||
|---|---|---|---|
| July 2020 | July 2017 | ||
| Asset Value | Market Value | Market Value | |
| Pre retirement discount rate |
2.6o/o | 3.9oo | |
| Post retirement discount rate |
0.6oAo | 1.9o/o | |
| Retail price inflation | 2.8oAo | 2.7o/o | |
| Consumer price inflation |
2.3oo | 2.2o/o | |
| Pension increases in |
payments | 3oo | 3''o |
| Pension revaluation | in defemient | 2.3oo | 2.2''o |
| Suiplus | / (1)eficit) | (64000) | ||||||
|---|---|---|---|---|---|---|---|---|
| Funding | Level | 65% | ||||||
| Analysis | ofthe movement | in | the | benefit net asset during the period | ||||
| f.'000s | ||||||||
| Surplus | /(shortfall) | at previous | valuation | (42) | ||||
| Interest | on surplus/shortfall | brought | forward | (3) | ||||
| Invesnnent out peiforniance |
3 | |||||||
| Contributions | 9 | |||||||
| Cash comniutation | 4 | |||||||
| ARP write off | 3 | |||||||
| Change | in market | conditions | (39) | |||||
| Change | to SFP | I | ||||||
| Surplus | / (shortfall) | at present | valuation | on sample | assumption | {64.0) |