: ’ : | 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 **----- Start of picture text -----**
||||||||| |---|---|---|---|---|---|---|---| |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| **----- End of picture text -----**
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 Page | 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. Page 2 . 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: **----- Start of picture text -----**
C V J Pugh - Chair - Bab
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Page 3 | ; ' : ## 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 Page 4 | DAME ANNA CHILD'S CHARITY , ## STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020 **----- Start of picture text -----**
||||||| |---|---|---|---|---|---| |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| **----- End of picture text -----**
The notes form part of these financial statements Page § 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 Page 6 |[.] .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. Page 7 continued... | . DAME ANNA CHILD'S CHARITY ;| ‘ ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 - continued 2. 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|| Page 8 continued... | 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. 5. INTANGIBLE FIXED ASSETS |5.|INTANGIBLE FIXED ASSETS|| |---|---|---| |||Lease| |||atrangement| |||costs| |||£| ||COST|| ||At | January 2020 and 31 December2020|4,200| ||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|3,193| ||DEPRECIATION|| ||At | January 2020|865| ||Charge foryear|232| ||At 31 December2020|1,097| ||NET BOOK VALUE|| ||At 31 December2020|2,096| ||At31December2019|2,328| Page 9 continued... DAME ANNA CHILD'S CHARITY l 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| Page 10 continued... 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| Page I continued... 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: **----- Start of picture text -----**
|||||| |---|---|---|---|---| |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|| **----- End of picture text -----**
A current year [2 months and prior year 12 months combined net movement in funds, included in the above are as follows: **----- Start of picture text -----**
|||||| |---|---|---|---|---| |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)| **----- End of picture text -----**
12. 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. Page 12 DAME ANNA CHILD'S CHARITY | : , ## 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 Page 13 DAME ANNA CHILD'S CHARITY i ## 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 | Page 14