2020-12-31-accounts - Dame Anna Child’s Charity

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REGISTERED CHARITY NUMBER: 513363

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

DAME ANNA CHILD'S CHARITY

Davies Edwards & Co Chartered Certiffed Accountants West Lodge Rainbow Street Leominster Herefordshire HR6 SDQ

DAME ANNA CHILD'S CHARITY

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

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||||||||| |---|---|---|---|---|---|---|---| |Page| |Reference|and|Administrative|Details|{| |Report|of|the|Trustees|2|to|3| |Independent|Examiner's|Report|4| |Statement|of Financial|Activities|5| |Balance|Sheet|6| |Notes|to|the|Financial|Statements|7|to|12| |Detailed|Statement|of Financial|Activities|13|to|14|

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DAME ANNA CHILD'S CHARITY

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2020

TRUSTEES CV J Pugh - Chair N B Morgan - Vice Chair D J Owens P T Hood Mts H Skipworth (resigned 3.8.20) I Davies Mrs J Poweil R Price Mrs C Breeze Mrs C Pugh (appointed 20.10.20)

PRINCIPAL ADDRESS Mts F J Williams - Clerk to Trustees White House Farm Purlogue Clun Shropshire SY7 8LT

REGISTERED CHARITY NUMBER 513363

INDEPENDENT EXAMINER Davies Edwards & Co Chartered Certified Accountants West Lodge Rainbow Street Leominster Herefordshire HR6 8DQ

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DAME ANNA CHILD'S CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of 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 freland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Constitution and objectives of the Charity

The objectives of the Charity changed with the closure of Whitton School by Powys County Council. The Charity remains true to its principal of promoting the education of children who either attended the school prior to closure or who reside (or have resided) in the local areas articulated in the Charity Commission Scheme; namely, the communities of Cascob, Discoed, Litton, Pilleth and Whitton in the County of Powys and as well as other local areas at the discretion of the Trustees, Public benefit In setting our aims and planning our activities the trustees have given careful consideration to the Charity Commissions general guidance on public benefit and the PBE provisions of FRS 102.

ACHIEVEMENT AND PERFORMANCE

The Charity aims to promote the education of children and young adults who either attended Whitton Primary School or live in — the£7,475,local area. Grants are awarded at the discretion of the Trustees. A total of23 grants were awarded during 2020 amounting to Covid restrictions meant that the grasskeep had to be put out to tender rather than auctioned, this resulted in a lower income from the land.

During the year a substantial sum has been spent on renovation and maintenance work, mainly on the School House.

FINANCIAL REVIEW

Financial review The trustees consider that the performance of the charity in 2020 has been satisfactory and has enabled direct charitable expenditure of £7,475 (2019 - £4,275),

The year to 31 December 2020 showed net outgoing resource of £28,703 (2019 - net incoming resources - £11,019).

The M&G "Charifund" units produced an unrealised {oss in the year of £5,939. (2019 unrealised gain £4,878)

The trustees believe that existing reserves and incoming resources from investments including the Charity lands are sufficient to maintain the objects of the charity into the foreseeable future. Investment policy and objectives The trustees adopt a low risk, secure investment policy whilst aiming to maximise returns.

Reserves policy

The Charity's incoming resources arise in the main from the annual letting of agricultural land, the rent from the School House and from the investment income of the accumulated fund. The maintenance costs can vary considerably from one year to another and in some years can be substantial.

The trustees maintain reserves to balance the fluctuations of both incoming resources and expenditure from one year to another and to provide investinent income.

The accumulated funds at 31 December 2020 amounted to £1 649,401, of which £t,450,000 was attributable to the value of investment property.

FUTURE PLANS

The trustees wil] continue to maintain the objectives of promoting the education of pupils up to the age of 25.

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DAME ANNA CHILD'S CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Charity is controlled by its governing document dated 7 April 1982 and subsequent amendments and constitutes an unincorporated Charity formerly known as Dame Anna Child's Endowed School. The Charity can trace the origina! benefaction to the early eighteenth century.

Recruitment and training of new trustees

The trustees are co-opted and re-elected yearly. The frustees are recruited for their breadth and depth of knowledge and experience. Trustees are encouraged to undergo training to brief them on their legal obligations under Charity Law. On appointment they are briefed on the contents of the Trust deed, the committee and decision making processes and the recent financial performance ofthe Charity.

Related parties

Two committee members took grasskeep from the charity during the year. There is a separate sub committee (The Land Comrnittee) of trustees to handle the grass letting and any trustees who tender for the land are not permitted to serve on it to avoid a conflict of interest arising. The grass lettings are handled on behalf of the charity by an independent agent. During the year one educational grant was paid a Trustee's child, no beneficial treatment was received and the related trustee was not involved in the approval of the grant. One trustee was due payment for work related to maintaining the charity lands. “e

Risk management

The trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls’ are — in place to provide reasonable assurance against fraud and etror.

The principle risks faced by the Charity lie in the performance of investments and operational risks regarding the capacity to make effective grants, to mitigate risk the trustees review investments and grants annually.

Approved by order of the board of[trustees][on] OR

and signed on its behalf by:

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C V J Pugh - Chair - Bab
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DAME ANNA CHILD'S CHARITY

Independent examiner's report to the trustees of Dame Anna Child's Charity

[ report to the charity trustees on my examination of the accounts of Dame Anna Child's Charity (the Trust} for the year ended 31 December 2020.

Responsibilities and basis of report

As the charity trustees of the Trust 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 Trust's accounts carried out under section 145 of the Act and in carrying out my examination | have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of[the][Act.]

Independent examiner's statement

t have completed my examination. | 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:

l, accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is nota matter considered as part of an independent examination.

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.

ME cpneoreh % R A Edwards ons} FCCA on behalfof Davies Edwards & Co , Chartered Certified Accountants West Lodge Rainbow Street Leominster Herefordshire HR6 8DQ

Date: ween OO SY 208

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DAME ANNA CHILD'S CHARITY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

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||||||| |---|---|---|---|---|---| |2020|2019| |Unrestricted|Total| |find|funds| |Notes|£|£| |INCOME|AND|ENDOWMENTS|FROM| |Investment|income|2|25,663|32,522| |Other|income|1,451|1,331| |Total|27,114|33,853| |EXPENDITURE|ON| |Raising|funds|3|45,607|15,473| |Charitable|activities| |Educational|grants| |7,475|4,275| |Other|2,735|3,086| |Total|55,817|22,834| |NET|INCOME/(EXPENDITURE)|(28,703)|11,019| |RECONCILIATION OF|FUNDS| |Total|funds|brought|forward|1,678,104|1,667,085| |TOTAL FUNDS|CARRIED FORWARD|1,649,401|1,678,104|

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The notes form part of these financial statements

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DAME ANNA CHILD'S CHARITY

BALANCE SHEET 31 DECEMBER 2020

BALANCE SHEET 31 DECEMBER 20202020
		2020	2019
		Unrestricted	Total
	Notes	fund £	funds £
FIXED ASSETS
Intangible assets	5	1,400	2,240
Tangible assets	6	2,096	2,328
Investments
Investments	7	168,292	174,230
Investment property	8	1,450,000	1,450,000
		1,621,788	1,628,798
CURRENT ASSETS
Debtors Cash atbank	9	4,119 26,667	5,760 53,671
		30,786	59,431
CREDITORS
Amounts fallingdue within oneyear	10	(3,173)	(10,125)
NETCURRENT ASSETS		27,613	49,306
TOTAL ASSETS LESS CURRENT
LIABILITIES		1,649,401	1,678,104
NETASSETS		1,649,401	1,678,104
FUNDS	a
Unrestricted funds		1,649,401	1,678,104
TOTALFUNDS		1,649,401	1,678,104

The financial statements were approved by the Board of Trustees and authorised for issue OM ..sccseeeSBerdt be RN. and were signed on its behalf by:

C VohinJ Pugh NTs.- Chair - TrusRegh NB Morgan - Vice (fair - Trustee

The notes form part of these financial statements

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|[.] .DAME ANNA CHILD'S CHARITY

; NOTES TO THE FINANCIAL STATEMENTS | FOR THE YEAR ENDED 31 DECEMBER 2020 ! 1, ACCOUNTING POLICIES

Basis of preparing the financial statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘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) (effective | January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Lreland’ and the Charities Act 2011, The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the - obligation can be measured reliably, Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources,

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Amortisation lease arrangement costs

Lease arrangement costs are amortised evenly over the period of the 5 year lease.

Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life,

Equipment - 10% on reducing balance Investment property Investments are valued at 31 December 2020.

Taxation The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

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DAME ANNA CHILD'S CHARITY

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 - continued

INVESTMENT INCOME

INVESTMENT INCOME
	2020	2019
	£	£
Grass letting	12,875	18,600
Rent - Schooi house and old School lease	9,800	5,648
M&G Charifund units/ National Savings income bonds	2,947	3,321
Unrealised gains on investments	-	4,878
Bank interest	41	75
	25,663	32,522

DETAILED ANALYSIS OF INVESTMENT INCOME RENT - SCHOOL HOUSE AND OLD SCHOOL

LEASE

				2020	2019
	»	—	School House	£ 4,800	£ 4,800	*
			FormerSchoo} Adjustment re renegotiation of lease - reversal oflease	5,000	5,000
			incentive	-	~4,152
				9,800	5,648
3.			RAISING FUNDS
			Investment management costs
				2020	2019
				£	£
			Maintenance - charity lands Fertiliser and lime Environment agency	(740) 1,802 342	1,614 1,808 342
			Repairs to school house	33,156	-
			Former School building maintenance Grass letting expenses Annual rent dinner	- 1,187 -	4,917 1,371 500
			Insurance Valuation fees re !and and property	2,631 -	2,416 765
			Professional fees	-	900
			Bad debt	450	-
			Depreciation	840	840
			Unrealised losses on investments	5,939	-
				45,607	15,473

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DAME ANNA CHILD'S CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 - continued

4, TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees’ remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.

Trustees’ expenses

There were no trustees’ expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.

INTANGIBLE FIXED ASSETS

5.	INTANGIBLE FIXED ASSETS
		Lease
		atrangement
		costs
		£
	COST
	At	January 2020 and 31 December2020
	AMORTISATION
	At 1 January 2020	1,960
	Charge for year	840
	At 31 December2020	2,800
	NET BOOK VALUE
	At 31 December2020	1,400
	At 31 December2019	2,240
6.	TANGIBLE FIXED ASSETS
		Equipment
		£
	COST
	At	January 2020 and 31 December 2020
	DEPRECIATION
	At	January 2020
	Charge foryear	232
	At 31 December2020	1,097
	NET BOOK VALUE
	At 31 December2020	2,096
	At31December2019	2,328

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DAME ANNA CHILD'S CHARITY

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2020

7. FIXED ASSET INVESTMENTS

7.	FIXED ASSET INVESTMENTS
			National
		M&G	savings
		Charifund	income
		units	bonds	Totals
		£	£	£
	MARKET VALUE
	At 1 January 2020	34,230	140,000	174,230
	Revaluations	(5,938)	-	(5,938)
	At 31 December2020	28,292	140,000	168,292
	NET BOGK VALUE
	At 31 December2020	28,292	140,000	168,292
	At 31 December2019	34,230	140,000	174,230
	There were no investment assets outside the UK.
8.	INVESTMENT PROPERTY
			2020	2019
			£	£
	Charity lands		950,000	950,000
	School House		325,000	325,000
	Old School Building		175,000	175,000
			1,450,000	1,450,000

Investment property is stated as per McCartneys valuation dated 28 February 2019. The trustees have considered the last valuation undertaken and are satisfied there has been no significant variation in value.

9, DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

	2020	2019
	£	£
Debtors	3,892	5,484
VAT	227	276
	4,119	5,760

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DAME ANNA CHILD'S CHARITY

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2020

10.	CREDITORS: AMOUNTS FALLING DUE WITHINONE YEAR
			2020	2019
			£	£
	Trade creditors		3,173	10,!25
11.	MOVEMENT IN FUNDS
			Net
			movement	At
		At 1/1/20	in funds	31/12/20
		£	£	£
	Unrestricted funds
	General fund	1,678,104	(28,703)	1,649,401
	TOTAL FUNDS	1,678,104	(28,703)	1,649,401
	Netmovement in funds, included in the above are as follows:
		Incoming	Resources	Movement
		resources	expended	in funds
		£	£	£
	Unrestricted funds
	General fund	27,114	(55,817)	(28,703)
	TOTALFUNDS	27,114	(55,817)	(28,703)
	Comparatives for movement in funds
			Net
		At I/L/19	movement infunds	At 31/12/19
		£	£	£
	Unrestricted funds
	General fund	1,667,085	11,019	1,678,104
	TOTALFUNDS	1,667,085	11,019	1,678,104
	Comparative netmovement in funds, included in the above are as follows:
		Incoming	Resources	Movement
		resources	expended	in funds
		£	£	£
	Unrestricted funds
	General fund	33,853	(22,834)	11,019
	TOTALFUNDS	33,853	(22,834)	1L,019

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DAME ANNA CHILD'S CHARITY

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2020

IL. MOVEMENT IN FUNDS - continued

A current year [2 months and prior year {2 months combined position is as follows:

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|||||| |---|---|---|---|---| |Net| |movement|At| |At|1/1/19|in funds|31/12/20| |£|£|£| |Unrestricted|funds| |General|fund|1,667,085|(17,684)|1,649,401| |TOTAL|FUNDS|1,667,085|(17,684)|1,649,40||

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A current year [2 months and prior year 12 months combined net movement in funds, included in the above are as follows:

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|||||| |---|---|---|---|---| |Incoming|Resources|Movement| |resources|expended|in|funds| |£|£|£|.| |Unrestricted|funds| |General|fund|60,967|(78,651)|(17,684)| |TOTAL FUNDS|60,967|(78,651)|(17,684)|

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RELATED PARTY DISCLOSURES

Two trustees took grasskeep from the charity during the year. There is a separate sub committee of trustees (The Land Committee) to handle the grass letting and any trustees who tender for the land are not permitted to serve on it to avoid a conflict of interest arising, The grass lettings are handled on behalf of the charity by an independent agent.

During the year one trustee was due a payment for work related to maintaining the charity lands.

During the year one educational grant was paid to a Trustee's child, no beneficial treatment was received and the related trustee was not involved in the approval of the grant.

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DAME ANNA CHILD'S CHARITY

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DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

FOR THE YEAR ENDEDYEAR ENDED	31 DECEMBER 20202020
		2020		2019
		£		£
INCOME AND ENDOWMENTS
Investment income
Grass letting		12,875		18,600
Rent - School house and old	School lease	9,800		5,648
M&G Charifund units/ National Savings income
bonds		2,947		3,321}
Unrealised gains on investments		-		4,878
Bank interest	:	4}		75
		25,663		32,522
Other income
Wayleaves, water, drainage charges and sundry
income		1,450		1,270
Rent - Community hall		1
Water and electric recharged		-		60
		1,454		1,331
Total incoming resources		27,114		33,853
EXPENDITURE
Investment management costs
Maintenance - charity lands		(740)		1,614
Fertiliser and lime		1,802		{,808
Environment agency		342		342
Repairs to school house		33,156		-
Former School building maintenance		-		4917
Grass letting expenses		1,187		1,371
Annual rent dinner		-	.	500
Insurance		2,631		2,416
Valuation fees re land and property		-		765
Professional fees		-		900
Bad debt		450		-
Amortisation ofintangible fixed assets		840		840
Unrealised losses on asset investments		5,939		-
		45,607		15,473
Charitable activities
Educational grants		7,475		4,275
Support costs
Management
Sundries		-		7h
Carriedforward		-		7

This page does not form part of the statutory financial statements

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DAME ANNA CHILD'S CHARITY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR THETHE YEAR ENDEDENDED 31 DECEMBER 20202020
	2020	2019
	£	£
Management
Brought forward	-	Ti
Clerks remuneration	1,680	1,680
	1,680	1,75]
Other
Rates and water	-	122
Legal fees re drainage agreements	-	168
Depreciation oftangible fixed assets	232	259
	232	549
Governance costs
Accountancy fees	823	786
Total resources expended	55,817	22,834
Net(expenditure)/income	(28,703)	11,019

This page does not form part of the statutory financial statements

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