**REGISTERED CHARITY NUMBER: 513363**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
## **FOR**
## **DAME ANNA CHILD'S CHARITY**
Davies Edwards & Co Chartered Certified Accountants West Lodge Rainbow Street Leominster Herefordshire HR6 8DQ
## **DAME ANNA CHILD'S CHARITY**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
|||**Page**||
|---|---|---|---|
|**Reference and Administrative Details**||1||
|**Report of the Trustees**|2|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Balance Sheet**|7|to|8|
|**Notes to the Financial Statements**|9|to|15|
|**Detailed Statement of Financial Activities**|16|to|17|
## **DAME ANNA CHILD'S CHARITY**
## **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2021**
**TRUSTEES** C V J Pugh - Chair N B Morgan - Vice Chair Mrs C Breeze I Davies (resigned 9.8.21) Ms K Davies (appointed 7.2.22) P T Hood D J Owens Mrs J Powell R Price Mrs C Pugh **PRINCIPAL ADDRESS** Mrs 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 1
## **DAME ANNA CHILD'S CHARITY**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. 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 Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Constitution and objectives of the Charity**
The Charity remains true to its principal of promoting the education of children, including social and physical training, 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 local area. Grants are awarded at the discretion of the Trustees. A total of 16 grants were awarded during 2021 amounting to £5,200.
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.
## **FINANCIAL REVIEW**
## **Financial review**
The trustees consider that the performance of the charity in 2021 has been satisfactory and has enabled direct charitable expenditure of £5,200 (2020 - £7,475).
The year to 31 December 2021 showed net incoming resources of £176,926 (2020 - net outgoing resources - £28,703).
The M&G "Charifund" units produced an unrealised gain in the year of £3,785. (2020 unrealised loss £5,939)
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 investment income.
The accumulated funds at 31 December 2021 amounted to £1,826,327 of which £,1,620,000 was attributable to the value of investment property.
Page 2
## **DAME ANNA CHILD'S CHARITY**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021**
## **FUTURE PLANS**
The trustees will continue to maintain the objectives of promoting the education of pupils up to the age of 25.
## **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 original benefaction to the early eighteenth century.
## **Recruitment and training of new trustees**
The trustees are co-opted and re-elected yearly. The trustees 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 of the Charity.
## **Related parties**
Two committee members took grasskeep from the charity during the year. A separate sub committee (The Land Committee) handles the grass letting and any trustees who tender for the land are not permitted to serve on it. This avoids any 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.
## **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 error.
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.
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.
Page 3
## **DAME ANNA CHILD'S CHARITY**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021**
Approved by order of the board of trustees on 27 October 2022 and signed on its behalf by:
C V J Pugh - Chair - Trustee
Page 4
## **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**
I 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 2021.
## **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 I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the 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:
1. 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 not a 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.
R A Edwards BA (Hons) FCCA on behalf of Davies Edwards & Co Chartered Certified Accountants West Lodge Rainbow Street Leominster Herefordshire HR6 8DQ
28 October 2022
Page 5
## **DAME ANNA CHILD'S CHARITY**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021**
|Notes
**INCOME AND ENDOWMENTS FROM**
Investment income
2
Other income
**Total**
**EXPENDITURE ON**
Raising funds
3
**Charitable activities**
Educational grants
Other
**Total**
Net gains on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|2021
Unrestricted
fund
£
30,504
1,493
31,997
17,075
5,200
2,796
25,071
170,000
176,926
1,649,401
1,826,327|2020
Total
funds
£
25,663
1,451
27,114
45,607
7,475
2,735
55,817
-
(28,703)
1,678,104
1,649,401|
|---|---|---|
The notes form part of these financial statements
Page 6
## **DAME ANNA CHILD'S CHARITY**
## **BALANCE SHEET 31 DECEMBER 2021**
|Notes
**FIXED ASSETS**
Intangible assets
5
Tangible assets
6
**Investments**
Investments
7
Investment property
8
**CURRENT ASSETS**
Debtors
9
Cash at bank
**CREDITORS**
Amounts falling due within one year
10
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**|2021
Unrestricted
fund
£
560
1,887
172,077
1,620,000
1,794,524
6,622
26,826
33,448
(1,645)
31,803
1,826,327
1,826,327|2020
Total
funds
£
1,400
2,096
168,292
1,450,000
1,621,788
4,119
26,667
30,786
(3,173)
27,613
1,649,401
1,649,401|
|---|---|---|
The notes form part of these financial statements
continued...
Page 7
## **DAME ANNA CHILD'S CHARITY**
**BALANCE SHEET - continued 31 DECEMBER 2021**
|**FUNDS**
11
Unrestricted funds
**TOTAL FUNDS**|1,826,327
1,826,327|1,649,401|
|---|---|---|
|||1,649,401|
The financial statements were approved by the Board of Trustees and authorised for issue on 27 October 2022 and were signed on its behalf by:
C V J Pugh - Chair - Trustee
N B Morgan - Vice Chair - Trustee
The notes form part of these financial statements
Page 8
## **DAME ANNA CHILD'S CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
## **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 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' 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 2021.
## **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.
continued...
Page 9
## **DAME ANNA CHILD'S CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **2. INVESTMENT INCOME**
|**INVESTMENT INCOME**|||
|---|---|---|
|Grass letting
Rent - School house and old School lease
M&G Charifund units/ National Savings income bonds
Unrealised gains on investments
Bank interest|2021
£
14,969
10,200
1,548
3,785
2
30,504|2020
£
12,875
9,800
2,947
-
41|
|||25,663|
## **DETAILED ANALYSIS OF INVESTMENT INCOME RENT - SCHOOL HOUSE AND OLD SCHOOL LEASE**
||2021|2020|
|---|---|---|
||£|£|
|School House|5,200|4,800|
|Former School|5,000|5,000|
||||
||10,200|9,800|
||||
||||
||||
## **3. RAISING FUNDS**
## **Investment management costs**
|Maintenance - charity lands
Fertiliser and lime
Environment agency
Repairs to rental properties
Grass letting expenses
Annual rent dinner
Insurance
Rent Smart Wales
Bad debt
Depreciation
Unrealised losses on investments|2021
£
624
1,814
342
9,025
1,119
360
2,915
36
-
840
-
17,075|2020
£
(740
1,802
342
33,156
1,187
-
2,631
-
450
840
5,939|
|---|---|---|
|||45,607|
continued...
Page 10
## **DAME ANNA CHILD'S CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
## **5. INTANGIBLE FIXED ASSETS**
## **6.**
|**INTANGIBLE FIXED ASSETS**||
|---|---|
||Lease|
||arrangement|
||costs|
||£|
|**COST**||
|At 1 January 2021 and 31 December 2021|4,200|
|**AMORTISATION**||
|At 1 January 2021|2,800|
|Charge for year|840|
|At 31 December 2021|3,640|
|**NET BOOK VALUE**||
|At 31 December 2021|560|
|At 31 December 2020|1,400|
|**TANGIBLE FIXED ASSETS**||
||Equipment|
||£|
|**COST**||
|At 1 January 2021 and 31 December 2021|3,193|
|**DEPRECIATION**||
|At 1 January 2021|1,097|
|Charge for year|209|
|At 31 December 2021|1,306|
|**NET BOOK VALUE**||
|At 31 December 2021|1,887|
|At 31 December 2020|2,096|
continued...
Page 11
## **DAME ANNA CHILD'S CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **7. FIXED ASSET INVESTMENTS**
|**MARKET VALUE**
At 1 January 2021
Revaluations
At 31 December 2021
**NET BOOK VALUE**
At 31 December 2021
At 31 December 2020|M & G
Charifund
units
£
28,292
3,785
32,077
32,077
28,292|National
savings
income
bonds
£
140,000
-
140,000
140,000
140,000|Totals
£
168,292
3,785|
|---|---|---|---|
||||172,077|
||||172,077|
||||168,292|
There were no investment assets outside the UK.
## **8. INVESTMENT PROPERTY**
||2021|2020|
|---|---|---|
||£|£|
|Charity lands|1,020,000|950,000|
|School House|425,000|325,000|
|Old School Building|175,000|175,000|
||||
||1,620,000|1,450,000|
||||
Investment property is stated as per McCartneys valuation dated 17 March 2022. 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**
|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|---|---|---|
|Debtors
VAT|2021
£
6,622
-
6,622|2020
£
3,892
227|
|||4,119|
continued...
Page 12
## **DAME ANNA CHILD'S CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade creditors
Taxation and social security
**11.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
31,997
**TOTAL FUNDS**
31,997
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1/1/21
£
1,649,401
1,649,401
Resources
expended
£
(25,071)
(25,071)
At 1/1/20
£
1,678,104
1,678,104||2021
£
1,574
71
1,645
Net
movement
in funds
£
176,926
176,926
Gains and
losses
£
170,000
170,000
Net
movement
in funds
£
(28,703)
(28,703)|2020
£
3,173
-
3,173
At
31/12/21
£
1,826,327|2020
£
3,173
-|
|---|---|---|---|---|---|
||||||3,173|
|||||1,826,327||
|||||Movement
in funds
£
176,926
176,926
At
31/12/20
£
1,649,401||
|||||1,649,401||
continued...
Page 13
## **DAME ANNA CHILD'S CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **11. MOVEMENT IN FUNDS - continued**
Comparative net movement 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)|
|**TOTAL FUNDS**|27,114|(55,817)|(28,703)|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1/1/20
£
1,678,104
1,678,104|Net
movement
in funds
£
148,223
148,223|At
31/12/21
£
1,826,327|
|---|---|---|---|
||||1,826,327|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
59,111
59,111|Resources
expended
£
(80,888)
(80,888)|Gains and
Movement
losses
in funds
£
£
170,000
148,223
170,000
148,223|Gains and
Movement
losses
in funds
£
£
170,000
148,223
170,000
148,223|
|---|---|---|---|---|
|||||148,223|
continued...
Page 14
## **DAME ANNA CHILD'S CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021**
## **12. RELATED PARTY DISCLOSURES**
Two trustees took grasskeep from the charity during the year. A separate sub committee of trustees (The Land Committee) handles the grass letting and any trustees who tender for the land are not permitted to serve on it. This avoids any 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 to a Trustee's child, no beneficial treatment was received and the related trustee was not involved in the approval of the g rant.
Page 15
## **DAME ANNA CHILD'S CHARITY**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021**
|**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**
**FOR THE YEAR ENDED 31 DECEMBER 2021**|||
|---|---|---|
||2021|2020|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Investment income**|||
|Grass letting|14,969|12,875|
|Rent - School house and old School lease|10,200|9,800|
|M&G Charifund units/ National Savings income|||
|bonds|1,548|2,947|
|Unrealised gains on investments|3,785|-|
|Bank interest|2|41|
||30,504|25,663|
|**Other income**|||
|Wayleaves, water, drainage charges and sundry|||
|income|1,492|1,450|
|Rent - Community hall|1|1|
||1,493|1,451|
|**Total incoming resources**|31,997|27,114|
|**EXPENDITURE**|||
|**Investment management costs**|||
|Maintenance - charity lands|624|(740)|
|Fertiliser and lime|1,814|1,802|
|Environment agency|342|342|
|Repairs to rental properties|9,025|33,156|
|Grass letting expenses|1,119|1,187|
|Annual rent dinner|360|-|
|Insurance|2,915|2,631|
|Rent Smart Wales|36|-|
|Bad debt|-|450|
|Amortisation of intangible fixed assets|840|840|
|Unrealised losses on asset investments|-|5,939|
||17,075|45,607|
|**Charitable activities**|||
|Educational grants|5,200|7,475|
|**Support costs**|||
|**Management**|||
|Sundries|31|-|
|Carried forward|31|-|
This page does not form part of the statutory financial statements
Page 16
## **DAME ANNA CHILD'S CHARITY**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021**
|**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**
**FOR THE YEAR ENDED 31 DECEMBER 2021**|||
|---|---|---|
||2021|2020|
||£|£|
|**Management**|||
|Brought forward|31|-|
|Clerks remuneration|1,680|1,680|
||1,711|1,680|
|**Finance**|||
|Bank charges|9|-|
|**Other**|||
|Depreciation of tangible fixed assets|209|232|
|**Governance costs**|||
|Accountancy fees|867|823|
|Total resources expended|25,071|55,817|
|**Net income/(expenditure) before gains and losses**|6,926|(28,703)|
|**Realised recognised gains and losses**|||
|Realised gains/(losses) on investment property|170,000|-|
|**Net income/(expenditure)**|176,926|(28,703)|
This page does not form part of the statutory financial statements
Page 17