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2021-03-31-accounts

Charity number: 511141

KEMP House Trust

Report and financial statements For the year ended 31 March 2021

KEMP House Trust

Contents

For the year ended 31 March 2021

Reference and administrative information ...................................................................................... 1 Trustees’ annual report .................................................................................................................. 2 Independent examiner’s report ...................................................................................................... 6 Statement of financial activities (incorporating an income and expenditure account) ..................... 7 Balance sheet ................................................................................................................................. 8 Notes to the financial statements ................................................................................................... 9

KEMP House Trust

Reference and administrative information

For the year ended 31 March 2021

Charity number 511141
Country of registration England & Wales
Registered office and 41 Mason Road
operational address Kidderminster
DY11 6AG
Trustees Trustees who served during the year and up to the date of this report
were as follows:
Mrs Isobel Dale BEM
Mrs Mary Young CPFA
Mrs Sue Thompson
Mr David Rees
Bankers HSBC Bank Pic
31 Church Street
Kidderminster
DY10 2AY
Solicitors Painters
29 Church Street
Kidderminster
DY10 2AU
Independent Joanna Pittman FCA
Examiner Sayer Vincent LLP
Chartered Accountants and Statutory Auditor
Invicta House
108-114 Golden Lane
LONDON
EC1Y 0TL
Investment Investec Wealth & Investment Limited
Managers 30 Gresham Street
London
EC2V 7QN

1

KEMP House Trust

Trustees’ annual report

For the year ended 31 March 2021

The trustees present their report and the financial statements for the year ended 31 March 2021, which have been subject to independent examination.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the charity's trust deed and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

Purposes and aims

The Declaration of Trust created on 6 May 1981 and subsequent amendments govern the Trust. A scheme to update the constitution was agreed by the Charities Commission on 30 July 2013 and a further deed of variation completed on 31 March 2014.

Our objectives: To provide clinical, emotional and spiritual care with practical support for people, their families, carers and the wider community who may be affected by serious life limiting illness with Kidderminster and district.

Our Activities: KEMP House Trust’s principal current activity is to manage its investment portfolio and support the charitable activities of Kemp House Trust Ltd (charity number 1146310) by providing the hospice building at a peppercorn rent and financial support in the form of grants. The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

Beneficiaries of our services

In the current year the Trust has made a grant of £357k to Kemp House Trust Ltd to enable it to adapt and continue its support of people with life limiting illnesses, their families and carers including provision of a day hospice (adapted to a virtual offering through Covid), bereavement counselling for adults and children and support for carers, through Covid. These services, provided free of charge to service users, benefit both service users and the community as a whole.

2

KEMP House Trust

Trustees’ annual report

For the year ended 31 March 2021

Financial review

The Trust’s work is now almost entirely reliant on income and investment returns from its investment portfolio and legacies.

The trustees work closely with their investment advisors with the aim of creating a reserve that will grow at least in line with inflation such that when called upon, its purchasing power will not have diminished.

In managing the investment portfolio the trustees adopt a balanced strategy and a medium risk approach. As in 2019/20, dividends were drawn down throughout the year to 31 March 2021 to maintain liquidity to meet unexpected demands on cash from funding applications.

The trustees meet regularly with their investment advisors. 20/21 fortunately, saw a significant recovery in global markets, with the roll out of the Covid vaccine programme and the gradual reopening of economies. As a result of the medium risk balanced approach to our investment portfolio, the fund showed an annual net return of 21.08% against a benchmark of 16.82% -a significant improvement on the -7.99% realised in 19/20. Investment income from listed investments totalled £51.9k (2020: £62.7k).

Grants and contributions made during the year totalled £365,966 (2020: £358,179).

Income from donations and legacies amounted to £1.8k (2020: £14.2k).

As of 31 March 2021 the fair value of fixed investments was £2.07m compared to £1.9m as at 31 March 2020. The 2021 figure includes £12k held by the investment broker pending reinvestment (2020: £47.7k).

Cash at bank at the year-end stood at £148k down from £260k (31 March 2020).

Net assets at 31 March 2021 were £2.24m (2020: £2.23m).

Reserves policy and going concern

With net assets at £2.24m (2020: £2.23m) and net current assets at £74.5k (2020: £193.3k) the finances of the Trust remain healthy.

A medium risk approach is taken to investment and the holding is spread in terms of market sector and world markets to minimise risk.

The trustees have reviewed the position on holding reserves and have concluded that a specific policy is inappropriate. The Trust’s charitable purpose is to provide funding to other organisations whose activities meet the objects of the Trust. It is not to build up substantial reserves. The Trust does not actively raise funds and over time legacies and donations will dry up. The Trust has no

3

KEMP House Trust

Trustees’ annual report

For the year ended 31 March 2021

direct employees and manageable creditors (£85.2k 31 March 2021). The financial position of the Trust is kept under review to ensure that we are able to meet any commitments as they become due.

The Coronavirus pandemic has had a devastating impact on the fundraising activities of Kemp House Trust Ltd and Kemp House Trust has been called upon to provide substantial financial support of £357k in financial year 2020/2021 to enable the hospice to sustain its activities in the community.

Of the £2.24m (2020: £2.23m) funds held by the Trust at 31 March 2021 £1.91m (2020: £1.9m) is for unrestricted use. The £335k (2020: £339k) restricted funds are for capital projects in the main.

Structure, governance and management

The organisation is an unincorporated charity registered as a charity on 6 May 1981 in England and Wales.

The charity is constituted under a trust deed dated 12 February 1981and subsequent amendments. A scheme to update the constitution was agreed by The Charities Commission on 30 July 2013 and a further deed of variation was completed on 31 March 2014.

All trustees give their time voluntarily and receive no benefits from the charity.

Appointment of trustees

Trustees are elected or co-opted and the total number of trustees may not be less than three. New trustees are deemed to be appointed by resolution of the board. The board of trustees can co-opt members for terms determined by the board at the time of their co-option. In appointing trustees the board look for individuals with relevant experience and integrity.

Related parties and relationships with other organisations

In pursuit of its charitable objectives, the trust provides funding to KEMP House Trust Ltd, a standalone charitable company limited by guarantee. To assist in communication between the organisations, a trustee/director of each organisation attends certain board meetings of the other organisation by invitation.

Statement of responsibilities of the trustees

Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the period and of its financial position at the end of the period. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:

4

KEMP House Trust

Trustees’ annual report

For the year ended 31 March 2021

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. They 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.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The trustees’ annual report has been approved by the trustees on 23 November 2021 and signed on their behalf by

Mrs Mary Young CPFA Trustee

5

Independent examiner’s report

To the members of

KEMP House Trust

I report to the trustees on my examination of the accounts of KEMP House Trust for the year ended 31 March 2021.

This report is made solely to the trustees as a body, in accordance with the Charities Act 2011. My examination has been undertaken so that I might state to the trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the trustees as a body, for my examination, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011 (‘the 2011 Act’).

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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.

Signed: Name: Joanna Pittman FCA Independent Examiner

Address: Sayer Vincent LLP, Invicta House, 108-114 Golden Lane, London, EC1Y 0TL Date: 10 December 2021

6

KEMP House Trust

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2021

For theyear ended 31 March 2021
2021 2020
Unrestricted Restricted Total Unrestricted Restricted Total
Note £ £ £ £ £ £
Income from:
Donations and legacies 2 1,807 - 1,807 14,155 - 14,155
Investments 3 52,001 - 52,001 72,595 - 72,595
Total income 53,808 - 53,808 86,750 - 86,750
Expenditure on:
Raising funds 4 20,004 - 20,004 21,462 - 21,462
Charitable activities
Grant-making activities 4 368,537 3,503 372,040 253,586 111,405 364,991
Total expenditure 388,541 3,503 392,044 275,048 111,405 386,453
Net expenditure before net (losses)/gains
on investments (334,733) (3,503) (338,236) (188,298) (111,405) (299,703)
Net gains / (losses) on investments 347,396 - 347,396 (211,017) - (211,017)
Net income/(expenditure) for the year 6 12,663 (3,503) 9,160 (399,315) (111,405) (510,720)
Net movement in funds 12,663 (3,503) 9,160 (399,315) (111,405) (510,720)
Reconciliation of funds:
Total funds brought forward 1,895,365 338,925 2,234,290 2,294,680 450,330 2,745,010
Total funds carried forward 1,908,028 335,422 2,243,450 1,895,365 338,925 2,234,290

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 14 to the financial statements.

7

KEMP House Trust

Balance sheet

As at 31 March 2021

As at 31 March 2021 As at 31 March 2021
Note
£
Fixed assets:
8
9
Current assets:
10
11,279
459
147,918
159,656
Liabilities:
11
(85,166)
13
14
1,908,028
Total unrestricted funds
General funds
Total charity funds
Investments
Cash at bank and in hand
Tangible assets
Short term deposits
The funds of the charity:
Creditors: amounts falling due within one year
Net current assets
Total net assets
Debtors
Total assets less current liabilities
Restricted income funds
Unrestricted income funds:		 2021
£
98,955
2,070,005		 £
32,201
458
260,366		 2020
£
101,483
1,939,483
2,168,960
74,490		 2,040,966
193,324
159,656
(85,166)		 293,025
(99,701)
1,908,028 1,895,365
2,243,450 2,234,290
2,243,450 2,234,290
335,422
1,908,028		 338,925
1,895,365
2,243,450 2,234,290

Approved by the trustees on 23 November 2021 and signed on their behalf by

Mrs Mary Young CPFA Trustee

8

KEMP House Trust

Notes to the financial statements

For the year ended 31 March 2021

KEMP House Trust is an unincorporated charity registered with the Charity Commission for England and Wales.

The registered office address is 41 Mason Road, Kidderminster, DY11 6AG

b) Basis of preparation

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) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

c) Public benefit entity

The charity meets the definition of a public benefit entity under FRS 102.

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

e) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

f) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

9

KEMP House Trust

Notes to the financial statements

For the year ended 31 March 2021

1 Accounting policies (continued)

g) Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

h) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

i) Grants payable

Grants payable are made to third parties in furtherance of the charity's objects. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and that any condition attaching to the grant is outside of the control of the charity.

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.

j) Operating leases

Rental income is charged on a straight line basis over the term of the lease.

k) Allocation of support costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis which are an estimate, based on staff time, of the amount attributable to each activity.

Support and governance costs are re-allocated to each of the activities  Raising funds 34%  Grant-making activities 66%

l) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use. Major components are treated as a separate asset where they have significantly different patterns of consumption of economic benefits and are depreciated separately over its useful life.

Where fixed assets have been revalued, any excess between the revalued amount and the historic cost of the asset will be shown as a revaluation reserve in the balance sheet.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

2% on cost

10

KEMP House Trust

Notes to the financial statements

For the year ended 31 March 2021

1 Accounting policies (continued)

m) Listed investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading “Net gains/(losses) on investments” in the statement of financial activities. The charity does not acquire put options derivatives or other complex financial instruments

n) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Short term deposits includes cash balances that are invested in accounts with a maturity date of between 3 and 12 months.

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

r) Financial instruments The charity only has both basic and non-basic financial assets and financial liabilities. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Non-basic financial instruments are measured at fair value with any gain or loss going to the statement of financial activities. Full details are given in the financial instruments note

Income from donations and legacies
financial instruments note
Donations
Legacies		 Unrestricted
£
1,557
250		 2021
Total
£
1,557
250		 Unrestricted
£
1,739
12,416		 2020
Total
£
1,739
12,416
1,807 1,807 14,155 14,155
Income from investments
Rental income
Investment income from listed investments
Interest received		 Unrestricted
£
-
51,941
60		 2021
Total
£
-
51,941
60		 Unrestricted
£
9,000
62,717
878		 2020
Total
£
9,000
62,717
878
52,001 52,001 72,595 72,595

11

KEMP House Trust

Notes to the financial statements

For the year ended 31 March 2021

4a Analysis of expenditure (current year)

Grant to KEMP House Trust Limited (Note 5a)
Investment manager fees
Legal and Professional fees
Consumables
Oxford St costs
Depreciation
Independent examiner fees
Support costs
Governance costs
Total expenditure 2021
Total expenditure 2020		 Raising
funds
£
-
16,874
-
-
-
-
-
16,874
2,232
898
20,004
21,462		 Grant
making
activities
£
365,966
-
-
-
-
-
-
365,966
4,332
1,742
372,040
364,991
Charitable
activity		 Governance
costs
£
-
-
2,613
27
-
-
-
2,640
-
(2,640)
-
-		 Support
costs
£
-
-
-
-
676
2,528
3,360
6,564
(6,564)
-
-
-		 2021 Total
2020
Total
£
£
365,966
358,179
16,874
17,953
2,613
4,492
27
-
676
-
2,528
2,529
3,360
3,300
392,044
386,453
-
-
-
-
392,044
386,453

12

KEMP House Trust

Notes to the financial statements

For the year ended 31 March 2021

4a Analysis of expenditure (prior year)

Grant to KEMP House Trust Limited (Note 5a)
Investment manager fees
Legal and Professional fees
Depreciation
Independent examiner fees
Support costs
Governance costs
Total expenditure 2020
Total expenditure 2020		 Raising
funds
£
-
17,953
-
-
-
17,953
1,880
1,629
21,462
20,443		 Grant
making
activities
£
358,179
-
-
-
-
358,179
3,649
3,163
364,991
387,150
Charitable
activity		 Governance
costs
£
-
-
1,492
-
3,300
4,792
-
(4,792)
-
-		 Support
costs
£
-
-
3,000
2,529
-
5,529
(5,529)
-
-
-		 2020 Total
2019 Total
£
£
358,179
382,314
17,953
17,952
4,492
3,000
2,529
2,528
3,300
1,800
386,453
407,594
-
-
-
-
386,453
407,594

13

KEMP House Trust

Notes to the financial statements

For the year ended 31 March 2021

5a Grant making (current year)

Grant making (current year)
Cost
Donation to KEMP House Trust Limited
At the end of the year		 Grants to
institutions
£
357,019		 2021
£
357,019		 2020
£
358,179
357,019 357,019 358,179

Grants were made to KEMP House Trust Limited during 2020/21 to support the contunation and adaption of vital services through Covid.

5b Grant making (prior year)

Grant making (prior year)
At the end of the year
Cost
Donation to KEMP House Trust Limited		 Grants to
institutions
£
358,179		 2020
£
358,179		 2019
£
382,314
358,179 358,179 382,314

Grants were made to KEMP House Trust Limited during 2019/20 to support PR & communications activities (£35,787); to support IT and building (£83,705), and as support towards core costs (£238,687).

6 Net income/(expenditure) for the year

This is stated after charging / (crediting):

This is stated after charging / (crediting):
2021 2020
£ £
Depreciation 2,528 2,528
Operating lease rentals receivable:
Property - (9,000)
Independent examiner's fees (excluding VAT) 2,800 2,750

14

KEMP House Trust

Notes to the financial statements

For the year ended 31 March 2021

7 Related party transactions

As KEMP House Trust has a conduit member who attends the board of KEMP House Trust Limited, this is deemed to be a related party, and the transactions with KEMP House Trust Limited are detailed below.

KEMP House Trust granted a 99 year lease to KEMP House Trust Limited for the sole use of the building to deliver its charitable objects. Although KEMP House Trust retains the title absolute of the property in Mason Road, it recognises only the retained interest in the freehold on its balance sheet as the risks and rewards of ownership have been transferred for the duration of the lease.

KEMP House Trust made grant payments of £357,019 (2020: £358,179) to KEMP House Trust Limited.

During the financial year ended 31 March 2021, KEMP House Trust (Hospice Shop) Ltd made nil rent payments (2020: £9,000) for the property in Oxford Street, Kidderminster due to the lease ending in the previous year. One trustee, Mrs Mary Young, was also a director of KEMP House Trust (Hospice Shop) Limited in the year, resigning her position on 22 September 2020.

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2020: £nil). No charity trustee received payment for professional or other services supplied to the charity (2020: £nil). Trustees expenses represents the payment of reimbursement of travel and subsistence costs totalling £27 (2020: £nil) incurred by 1 (2020: nil) members relating to attendance at meetings of the trustees.

8 Tangible fixed assets

Tangible fixed assets
Depreciation
At the end of the year
Net book value
At the start of the year
Charge for the year
At the end of the year
At the start of the year
At the start of the year
At the end of the year
Cost		 Freehold
property
£
126,403		 Total
£
126,403
126,403 126,403
24,920
2,528		 24,920
2,528
27,448 27,448
98,955 98,955
101,483 101,483

All of the above assets are used for charitable purposes. KEMP House Trust granted a 99 year lease to KEMP House Trust Limited for the sole use of the building to deliver its charitable objectives. KEMP House Trust retain the title absolute of the property in Mason Road and it recognises only the retained interest in the freehold on its balance sheet as the risks and rewards of ownership have been transferred to KEMP House Trust Limited for the duration of the lease.

15

KEMP House Trust

Notes to the financial statements

For the year ended 31 March 2021

For the year ended 31 March 2021
9
10
11
12
Accruals
Financial assets measured at fair value through profit and loss
Creditors: amounts falling due within one year
Amounts due to KEMP House Trust (Hospice Shop) Ltd
Amounts due to KEMP House Trust Limited
Accrued income
Amount due from KEMP House Trust (Hospice Shop) Limited
Debtors
Additions at cost
Net gain / (loss) on change in fair value
Disposal proceeds
Listed investments
Fair value at the end of the year
Listed investments
Cash held by investment broker pending reinvestment
Fair value at the start of the year
Investments
Financial instruments
Cash
Investments comprise:		 2021
£
1,891,826
269,470
(450,726)
347,396		 2020
£
2,128,418
290,653
(316,228)
(211,017)
2,057,966
12,039		 1,891,826
47,657
2,070,005 1,939,483
2021
£
2,057,966
12,039		 2020
£
1,891,826
47,657
2,070,005 1,939,483
2021
£
-
11,279		 2020
£
9,000
23,201
11,279 32,201
2021
£
81,539
267
3,360		 2020
£
96,401
-
3,300
85,166 99,701
2021
£
2,057,966		 2020
£
1,891,826

16

KEMP House Trust

Notes to the financial statements

For the year ended 31 March 2021

13a Analysis of net assets between funds (current year)

13a
Analysis of net assets between funds (current year)		 13a
Analysis of net assets between funds (current year)
13b
14a
At 1 April
2020
£
335,422
3,503
Total restricted funds
338,925
General funds
1,895,365
1,895,365
2,234,290
Total funds
Total unrestricted funds
Tangible fixed assets
Investments
Net current assets
Other restricted funds
Movements in funds (current year)
Restricted funds:
Capital projects
Unrestricted funds:
Tangible fixed assets
Investments
Net current assets
Analysis of net assets between funds (prior year)
Net assets at 31 March 2021
Net assets at 31 March 2020		 Income &
gains
£
-
-		 General
unrestricted
£
98,955
1,734,583
74,490		 Restricted
£
-
335,422
-		 Total funds
£
98,955
2,070,005
74,490
1,908,028 335,422 2,243,450
General
unrestricted
£
101,483
1,600,558
193,324		 Restricted
£
-
338,925
-		 Total funds
£
101,483
1,939,483
193,324
1,895,365 338,925 2,234,290
Expenditure
& losses
£
-
(3,503)		 Transfers
£
-
-		 At 31 March
2021
£
335,422
-
338,925 - (3,503) - 335,422
1,895,365 401,204 (388,541) - 1,908,028
1,895,365 401,204 (388,541) - 1,908,028
2,234,290 401,204 (392,044) - 2,243,450

Purposes of restricted funds Capital Projects This is a legacy received to be spent on capital projects for the benefit of the patients of KEMP Hospice.

Other restricted funds

These relate to legacies received which are to be spent for the benefit of KEMP Hospice.

17

KEMP House Trust

Notes to the financial statements

For the year ended 31 March 2021

14b Movements in funds (prior year)

Total restricted funds
General funds
Total funds
Capital projects
Unrestricted funds:
Other restricted funds
Restricted funds:
Total unrestricted funds		 At 1 April
2019
£
446,827
3,503		 Income &
gains
£
-
-		 Expenditure
& losses
£
(111,405)
-		 Transfers
£
-
-		 At 31 March
2020
£
335,422
3,503
450,330 - (111,405) - 338,925
2,294,680 86,750 (486,065) - 1,895,365
2,294,680 86,750 (486,065) - 1,895,365
2,745,010 86,750 (597,470) - 2,234,290

Purposes of restricted funds Capital Projects

This is a legacy received to be spent on capital projects for the benefit of the patients of KEMP Hospice.

Other restricted funds

These relate to legacies received which are to be spent for the benefit of KEMP Hospice.

15 Operating lease commitments receivable as a lessor

Amounts receivable under non-cancellable operating leases are as follows for each of the following periods

Less than one year
One to five years
Over five years		 2021
2020
£
£
-
9,000
-
-
-
-
-
9,000
Property		 2021
2020
£
£
-
9,000
-
-
-
-
-
9,000
Property
- 9,000

18