#
##
|Reference and administrative
details.||
|---|---|
|Report ofthe trustees for the year ended 31*'March 2021..||
|Independent
Auditor's
Report to the trustees of Malvern
Hills Trust........|.....21|
|Statement of Financial Activities for the year ended 31"March 2021....|.....24|
|Balance Sheet asat 31"March 2021.|25|
|Statement ofcash flows for the year ended 31"March 2021...|.26|
|Notes to the financial statements
for the year ended 31"March 2021....|......27|
##
|Charity number:|Charity number:|Charity number:|||515804(England and|515804(England and|Wales)|
|---|---|---|---|---|---|---|---|
|Registered|and principal office:||||Manor House|||
||||||Grange Road|||
||||||Malvern|||
||||||Worcestershire|||
||||||WR14 3EY|||
|Our advisors||||||||
|Independent||Auditor:|||Bishop Fleming|LLP||
||||||Chartered
Accountants||and Statutory Auditors|
||||||10Temple Back|||
||||||Bristol|||
||||||851 6FL|||
|Bankers:|||||Lloyds Bank pic|||
||||||48 Belle Vue Terrace|||
||||||Malvern|||
||||||Worcestershire|||
||||||WR14 4QG|||
|Investment||Managers:|||Brewin Dolphin|||
||||||9Colmore Row|||
||||||Birmingham|||
||||||B32B)|||
|Key management|||personnel|—Senior Managers||||
|Chief Executive Officer|||||Duncan Bridges BSc(Hons)|||
|Secretary to||the|Board||Susan Satchell||LI.B(Hons)|
|Conservation||Manager|||Ionathan|Bills MSc||
|Operations|Manager||||Paul Saunder (to 30'" Iune 2021)|||
|Finance and||Administration||Manager
Cheryl Gentry BScACA||||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
||||||||Totalfunds|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total funds|2020(note|
||||Note|funds|funds|2021|28)|
|Income and endowments||from:||||||
|Donations and legacies||||4,594|650|5,244|299,020|
|Charitable activities:||||||||
|Management
ofthe|hills and commons|||489,350|3,729|493,079|727,429|
|Car parks||||412,659|0|412,659|289,167|
|Other trading activities||||35,039|889|35,928|42,400|
|Investments:||||||||
|Bank deposits||||1,302|0|1,302|3,145|
|Investment
portfolio||||0|33,865|33,865|48,172|
|Other||||9,110|0|9,110|6,002|
|Total income||||952,054|39,133|991,187|1,415,335|
|Expenditure
on:||||||||
|Charitable activities|||6|1 057,324|110,555|1,167,879|1,182,153|
|Other expenditure|||6|6144|9,017|15,161|0|
|Total expenditure||||1,063,468|119,572|1,183,0/IO|1,182,153|
|Net gains/(losses)
on investments|||16|0|333,269|333,269|(150,702)|
|Net income/(expenditure)||||(111,414)|252,830|141,416|82,480|
|Transfers between funds||||15,223|(15,223)|0|0|
|Other recognised ga/ns/(/asses)||||||||
|Actuarial
gains/(losses)|on|defined benefit||||||
|pension scheme|||26|(405,000)|0|(405,000)|12,000|
|Net movement
in funds||||(501,191)|237,607|(263,584)|94,480|
|Reconci/iation offunds:||||||||
|Total funds brought
forward||||(735,337)|2,895,030|2,159,693|2,065,213|
|Total funds camed forward|||23|(1,236,528)|3,132,637|1,896,109|2,159,693|
##
|||||||Note|2021|2020|
|---|---|---|---|---|---|---|---|---|
|Fixed Assets|||||||||
|Tangible fixed assets||||||14|437,893|518,912|
|Heritage assets||||||15|1,060,261|1,060,261|
|Investments||||||16|1,694,759|1,353,684|
||||||Total fixed assets||3,192,913|2,932,857|
|Current Assets|||||||||
|Livestock|||||||25,320|25,320|
|Debtors||||||17|58,299|182,148|
|Short term deposits|||||||992,628|965,535|
|Cash at bank and in hand|||||||200|172|
||||||Total current assets||1,076,447|1,173,175|
|Creditonc Amounts
falling||due within||one year||18|(117,251)|(104,339)|
|Net Current Assets excluding|||pension|liability|||959,196|1,068,836|
||||||Net assets||4,152,109|4,001,693|
|Pension Fund liability||||||27|(2,256,000)|(1,842,000)|
|Net Assets including|pension||liability||||1,896,109|2,159,693|
|The funds ofthe charity|||||||||
|Unrestricted
-General Fund||||||19|439,722|334,668|
|Unrestricted
- Designated||Funds||||20|579,750|771,995|
|Unrestricted
- Pension Fund||||||21|(2,256,000)|(1,842,000)|
|Restricted Funds||||||22|3,132,637|2,895,030|
||||||Total charity funds||1,896,109|2,159,693|
##
##
|||||||2021|2020|
|---|---|---|---|---|---|---|---|
|Cash flows from operating
activities||||||||
|Net movement
In funds||||||(263,584)|94,480|
|Add back depreciation
charge||||||102,732|116,277|
|Investment
(gains)/
losses||||||(333,269)|150,702|
|Profit on disposal of fixed assets||||||0|(1,950)|
|Income on investing
activities retained|in|portfolio||||(16,722)|(25,361)|
|Loss on pension scheme||||||414,000|8,000|
|Decrease in stock||||||0|0|
|decrease
in debtors||||||123,849|182,493|
|Increase/(decrease)
in creditors||||||12,912|(6,903)|
|Net cash provided
by/(used
in) operating||activities||||39,918|517,738|
|Cashflows from investing
activities:||||||||
|Proceeds from the sale offixed assets||||||0|1,950|
|Purchase of property,
plant and equipment||||||(21,713)|(101,725)|
|Investment
manager's
fees deducted|from||portfolio|||10,821|8,947|
|Funds transferred
(to)/from
investment|portfolio|||||(1,905)|53,741|
|Net cash provided
by investing activities||||||(12,797)|(37,087)|
|Change
in cash and cash equivalents|in the||reporting|period||27,121|480,651|
|Cash and cash equivalents
at the beginning|||ofthe reporting||period|965,707|485,056|
|Cash and cash equivalents
at the end|ofthe reporting|||period||992,828|965,707|
|Analysis ofcash and cash equivalents||||||||
|Cash in hand||||||200|172|
|Current account||||||229,811|200|
|Notice deposits (less than 3months)||||||762,817|965,335|
|Total cash and cash equivalents||||||992,828|965,707|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|3Analysis ofincome from dona|tions
and legacies||
|---|---|---|
||2021|2020|
||E||
|Gifts|2,244|7,020|
|Legacies|3,000|292,000|
||5,244|299,020|
##
|4Analysis of income from other tradin|g activities||
|---|---|---|
||2021|2020|
|Rental income|27,350|32,389|
|Easements and wayleaves|7,689|6,889|
|Sales ofbooks and leaflets|889|3,122|
||35,928|42,400|
##
|5Analysis|ofother income|||
|---|---|---|---|
|||2021|2020|
|Employment|allowance|4,000|3,000|
|Compensation|for works|1,741|0|
|Profit on disposal offixed assets||0|1,950|
|Other||3,369|1,052|
|||9,110|6,002|
##
##
|6Analysis|ofexpe|nditure|nditure|nditure||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Expenditure
on|charitable|activities:||||||||||||||
||||Esto'te|||||||||||||
||||manage't|||Wardening|||Car parks
PR||Governance||Administ'n
Total 2021||2020|
|||||E|||E||E
E||E||E|E|E|
|Salaries (note 10)|||315,291||||90,833||3,741|0|61,438||147,156|618,IE59|622,645|
|Direct expenses|||276,142||||12,647||24,888
3,104||2,755||0|319,536|277,747|
|Rates and water|||||3,496|||0|0|0||0|2,157|5,653|8,545|
|Heat and light|||||1,896|||0|0|0||0|2,579|4,475|6,367|
|Insurance||||28,058||||0|0|0||0|2,270|30,328|29,876|
|Maintenance
of|buildings||||1,679|||0|0|0||0|870|2,549|2,649|
|Depreciation||||95,041||||0|0|0||0|7,691|102,732|116,277|
|Investment
management|||||9,017|||0|0|0||0|0|9,017|8,947|
|Support costs (note 8)|||||7,190|||0|3,635|0|46,781||32,685|90,291|109,100|
||||737,810||||103,480||32,264 3,104||110,974||195,408|1,183,040|1,182,153|
|Expenditure
on charitable|||activities was||||E1,183,040(2020E1,182,153)of|||||which E1,063,468was||||
|unrestricted
(2020E1,102,149)|||||and|E119,572||was restricted (2020E80,004).||||||||
|7Summary|analysis||ofexpenditure|||||and related||income||for charitable||||
|activities||||||||||||||||
|This table shows the cost|||ofthe||main|charitable||activities and the|||sources|of|income directly to|||
|support those|activities.|||||||||||||||
||||||||||M'gt of|||||||
||||||||||hills and|||||||
||||||||||commons||Car Parks||Total 2021|Total 2020||
||||||||||||E|||||
|Income||||||||||||||||
|Levy on Council Tax payers in||||precepted|||parishes||534,850||||534,850|519,250||
|Stewardship|grants||||||||82,258||||82,258|192,394||
|Less provision|for non-payment||||ofgrants by the|||||||||||
|RPA|||||||||(151,470)|||0|(151,470)||0|
|Other grants|(see note|below)|||||||27,441|||0|27,441|15,785||
|Car park takings||||||||||0|412,659||412,659|289,167||
|Total income|from charitable|||activities|||||493,079||412,659||905,738|1,016,596||
|Charitable
expenditure|||||||||(1,150,776)||(32,264)||(1,183,040)|(1,182,153)||
|Net contribution/(cost||funded|||by other||income)||(657,697)||380,395||(277,302)|(165,557)||
##
##
##
|||Estate|Gove|ma|Car|Office|Total|Total|
|---|---|---|---|---|---|---|---|---|
|||m'tce|nce||parks|costs|2021|2020|
||||E||E||||
|Telephones||1387||0|0|1,805|3,192|2,988|
|Cleaning||900||0|0|1,966|2,866|3,586|
|Postage||0||0|0|2,772|2,772|881|
|Office equipment||0||0|0|2,099|2,099|2,908|
|Printing
and stationery||0||0|0|5,455|5,455|6,547|
|Travelling||0||0|0|449|449|1,310|
|IT||0||0|0|9,974|9,974|10,072|
|Legal fees||1,548|26,530||2,421|0|30,499|26,789|
|Audit fee||0|6,675||0|0|6,675|7,000|
|Other professional|fees|1,113|13,237||0|3,21 5|17,565|30,284|
|Subscriptions||0||0|0|2,198|2,198|1,018|
|Training||1605||0|0|0|1,605|10,701|
|Miscellaneous||637||339|0|808|1,784|1,345|
|Bank charges||0||0|1,214|1,944|3,158|3,671|
|||7,190|46,781||3,635|32,685|90,291|109,100|
##
##
|9Net income/(expenditure)
for the ye|ar||
|---|---|---|
|This is stated after charging:|||
||2021|2020|
|Depreciation|102,732|116,277|
|Auditor's
remuneration:|||
|Audit fees|6,675|7,000|
##
|costofkey management
p|ersonnel|||
|---|---|---|---|
|||2021|2020|
|Salaries and wages||424.769|415,435|
|Social security costs||35,833|42,331|
|Pension costs||133,274|135,873|
|Group life assurance||1,659|1,641|
|Casual staff||0|1,365|
|FRS102 - pension adjustment||9,000|20,000|
|FRS102 - short term compensated|absence charge to SOFA|13,924|6,000|
|||618,459|622,645|
##
##
|offull-time
equivalent
employees
(including|part-time staff) during the year we|re as fol|
|---|---|---|
||2021|2020|
|Wardens|31|3|
|Field Staff|6.6|6.6|
|Office based staff|5.8|6.5|
||15.5|16.1|
##
##
##
|14Tangible|Fixed a|ssets|||||||
|---|---|---|---|---|---|---|---|---|
||Heritage|||Improv-|||||
||Assets - Land|||ements to|||||
||8rbugdings||Office|land and||Vehicles and|Office||
||(note 15)
6|Otherland|building
6|buildings
6|Car parks
I|equipment
6|equipmentI|Total
I|
|Cost|||||||||
|1st April 2020|1,060,261|102,733|138,770|887,II71|160,460|416,833|56,937|2,823,465|
|Additions|0|0|0|1,761|0|19,004|948|21,713|
|Disposals|0|0|0|0|0|(5500)|0|(5,500)|
|At 31st March|||||||||
|2021|1,060,261|102,733|138,770|889,232|160,rl60|430,337|57,885|2,839,678|
|Depreciation|||||||||
|At 1st April 2020|||19,424|705,709|160,460|311,964|46,735|1,244,292|
|Charge in the year|||2,775|64.155|0|30,886|rl,916|102,732|
|On disposals|||0|0|0|(5,500)|0|(5,500)|
|At 31st March|||||||||
|2021|0|0|22,199|769,86rl|160,460|337,350|51,651|1,341,524|
|Net book value|||||||||
|31st March 2021|1,060,261|102,733|116,571|119,368|0|92,987|6,234|1,498,15rl|
|31st March 2020|1,060,261|102,733|119,3rl6|181,762|0|104,869|10,202|1,579,173|
##
##
|herefore|does not include|the|va|lue|of d|onated|land.|||
|---|---|---|---|---|---|---|---|---|---|
|Year||||||||E||
|1903|Hill land near Brand Lodge||||||||220|
|1925|W. Berington's
mineral|rights,|Little Malvern||||||10,132|
|1925|Ecclesiastical Commissioners'||mineral||and|manorial|rights||1,036|
|1925|Foley Manor|||||||16,092||
||Less:sale of Belle Vue island and|||Edith|Walk|||||
||||||||||16,007|
|1926|Price & Laird's land, The|Wyche (portion)|||||||999|
|1927|Miss Cabrera's
land and|mineral||rights|||||687|
|1928|Major Raper's land and|mineral||rights|||||517|
|1931|West of England quarries||||||||2rl,654|
|1931|Thirds Wood, )ubilee Drive||||||||1,897|
|1937|Land at Malvern
Wells||||||||25|
|1938|Land at Malvern
Wells||||||||286|
|1955|Land near Combe Lodge||||||||350|
|1958
1958|Land, part ofThe Shrubbery
Land on North
Hill||||||||74
369|
|1958|Land at Wood Street, Guarlford||||||||37|
|1958|Land on Malvern
Common||||||||24|
|1958|Lease of Park Cottage, West Malvern||||||||51|
|1958
1958
1959|Land at Old Wyche
Land at Happy Valley
Land at Old Wyche||||||||171
13
81|
|1960|Land at British Camp||||||||243|
|1960
1960|Land at Happy Valley
Land at West Malvern||||||||82
127|
|1960|Land at Scar Quarry||||||||8|
|1960/62|Providence Cottages, The Wyche||||||||940|
|1961|Land at Holy Well||||||||182|
|1961|Land at The Old Collets||||||||24|
|1962|Land at Hotly Bush Roughs||||||||2,8rl8|
|1962
1962|Hill Top Cottage, Chase
Land at Castlemorton|End|||||||773
656|
|1963
1964|Cottages and land at West Malvern
F.B.Bradley-girt
manorial
rights at Chase|||||End and Ragged Stone Hill|||580
343|
|1964
1966|Land at Upper Wyche
Castlemorton
Common|land|||||||62
1,459|
|1966|St. Ann's Well||||||||3,743|
|1967|Land at Colwag||||||||256|
|1967|Land at Malvern
Wells||||||||115|
|1967|Land at Old Hills and Newland||||||||1,796|
|1969|Land at 34Wyche Road,|Malvern|||||||3,500|
|1970|Land at Camp End||||||||771|
|1971|Land at Black Hill||||||||206|
|1972|Land at Eamslaw||||||||86|
|1976|The Moat Pond, Sherrards
Green||||||||59|
|1976|Thirds Wood, Chase Road (part)||||||||1,057|
|1977|Land at Castlemorton
to be known as||||Brro|k Meadow, Snookes Croft and Plants Piece)|||2,061|
|1980|Land at Chances Pitch||||||||100|
|1980|Mount Pleasant, )ubilee|Dnve|||||||2,700|
|1981|Land at West Malvern||||||||8,000|
|1982|Gullet Quarry||||||||4,500|
||Sub-total||||||||94,907|
##
|Year||||||||||
|---|---|---|---|---|---|---|---|---|---|
||Sub total b/fwd||||||||94,907|
|1984|Gullet Quarry|||||||15,217||
||Less Countryside
Commission||grant|||||(4,500)||
||||||||||10,717|
|1986|Eamslaw and Wyche Quarries|||||||25,212||
||Less:Countryside
Commission||grant|||||(12,500)||
||||||||||12,712|
|1986|Grundy's
Meadow|||||||6,203||
||Less Countryside
Commission||grant|||||(3,058)||
||||||||||3,145|
|1989|Ballards Land, Upper Colwall|||||||15,000||
||Less Gift from Mrs N. Hadfield|||||||(3,750)||
||||||||||11,250|
|1990|Park Wood, West Malvern||||||||36,000|
|1991|Fish Pool, Leys Coppice||||||||15,373|
|1993|Lodge Fields||||||||25,370|
|1993|Gardiners Cottage||||||||3,367|
|1993|Park Wood, West Malvern||||||||5,600|
|1994|Land at St. Andrew's
Road||||||||5,000|
|1995|Hill land at West Malvern,|Eaton||Road and||Holy Well|||35,000|
|1995|Mill Pond, Castlemorton||||||||2,500|
|1998|Woodford's
Meadow||||||||52,000|
|1999|Meadow land at Park Wood||||||||10,000|
|1999|Colwag lands||||||||40,417|
|2002/03|Land at Broomy Hill, Castlemorton||||||||8,58rl|
|2002/03|Land at Old Hollow, West|Malvern|||||||65,625|
|2003|Land at The Hacketts, Mathon||||||||176,411|
|2003|Land at Little Malvern||||||||54,099|
|2007/08|Tank Quarry||||||||25,II98|
|2007/08|Land at The Purlieu, West|Malvern||Road|||||10,915|
|2007/08|Land at The Patch, Castlemorton||||||||16,4rl8|
|2008/09|Small parcels of land at Worcestershire||||Beacon and above||)ubilee Drive||4,471|
|2009/10|Land on 4areas on East side Worcestershire|||||Beacon, Black|Hill and )ubilee||1,395|
|2009/10|Small parcels of land||||||||7,495|
|2010/11|Small parcels of land||||||||2,229|
|2011/12|Small parcels of land||||||||4,945|
|2012/1 3|Small parcels of land||||||||200|
|2018/19|Land at Castlemorton||||||||7,505|
|2018/19|Land at Holyweg||||||||13,68rl|
|2018/19|Land at Castlemorton||||||||297,399|
||Total to 31u March 2021||||||||,060.26|
##
##
||||Combined||
|---|---|---|---|---|
|||Pari (k LM|2021|2020|
||E|E|6|E|
|Opening
Market Value|792,334|561,350|1,353,684|1,541,714|
|Additions|192,856|138,147|331,003|297,840|
|Disposal proceeds|(180,867)|(149,260)|(330,127)|(322,313)|
|Equalisations|(23)|(300)|(323)|1,217|
|Gains/(losses)|215,839|117,430|333,269|(150,702)|
|Change in cash|(168)|7,421|7,253|(14,072)|
|Closing market value|1,019,971|674,788|1,694,759|1,353,684|
||||2021|||2020||
|---|---|---|---|---|---|---|---|
||||||x||E|
|UK Bonds||4.3||44,280|9.5||75,115|
|Overseas|bonds|9.9||100,713|5.8||46,336|
|UK equities||25.0||255,352|26.9||213,515|
|North American
equities||25.6||261,232|22.9||181,331|
|European|equities|7.4||75,389|7.4||58,606|
|)apanese|equities|3.5||35,939|3.2||25,436|
|Asia pacific equities||7.0||71,171|4.7||37,326|
|Emerging|markets|1.3||13,423|1.2||9,551|
|Absolute|return|4.1||41,580|4.7||36,974|
|Global investments||3.9||39,778|3.9||30,512|
|Property||2.0||20,047|2.2||17,084|
|Other investments||3.7||37,641|4.7||36,953|
|Cash||2.3||23,427|3.0||23,595|
|||||1,019,972|||792,334|
##
##
|||2021|||2020||
|---|---|---|---|---|---|---|
||0/|||||E|
|UK Bonds|4.8||32,214|11.5||64,521|
|Overseas bonds|9.2||62,070|4.1||23,101|
|UK equities|25.2||170,049|28.6||160,668|
|North American
equities|23.8||160,762|20.6||115,737|
|European
equities|6.7||45,545|6.3||35,405|
|)apanese equities|3.5||23,465|2.4||13,384|
|Asia pacific equities|6.0||40,764|4.6||25,884|
|Emerging
markets|1.6||10,597|1.3||7,540|
|Absolute
return|2.0||13,649|2.2||12,466|
|Global investments|7.8||52,530|7.4||41,551|
|Property|1.0||7,053|2.6||14,553|
|Other investments|5.4||36,335|6.1||34,206|
|Cash|2.9||19,755|2.2||12,334|
||||674,788|||561,350|
##
|17Debtors|||
|---|---|---|
||2021|2020|
|||E|
|Trade debtors|1,510|8,672|
|Other debtors|1,897|2,457|
|Accrued income|163,345|124,596|
|Less: RPA amounts due removed (seenote 7)|(151,470)|0|
|Prepayments|43,017|46,423|
||58,299|182,148|
##
##
|18Creditors: a|mo|unts
falling due within o|ne year||
|---|---|---|---|---|
||||2021|2020|
||||E||
|PAYE and National|Insurance||7,978|8,291|
|VAT payable|||4,247|2,431|
|Trade creditors|||17,099|8,606|
|Accrued charges|||45,018|57,275|
|Other creditors|||2,648|552|
|Deferred income|||13,800|14,647|
|FR5102compensated||absence provision|26,461|12,537|
||||117,251|104,339|
|The movement
on the de|The movement
on the de|f|erred
income account|was:||||
|---|---|---|---|---|---|---|---|
|Balance at 1"April 2020|||||14,647|||
|Released to the SOFA in the year|||||(14,647)|||
|Received
in the year|||||13,800|||
|Balance at 31"March 2021|||||13,800|||
|19General fund||||||||
||||||2021|2020||
|||||||E||
|General
Fund - balance 1"April 2020|||||334,668|311,064||
|Incoming
resources|||||1.013,661|865,747||
|Resources expended|||||(913,850)|(873,898)||
|Transfers|||||5,243|31,755||
|Balance 31"March|2021||||439,722|334,668||
|Transfers were made|during||the year were:|||||
|Transfer details||||Reason|||E|
|From Parliamentary
fund||||Totransfer investment
income|||12,790|
|From Lands Maintenance|fund|||Totransfer investment
income|||4,353|
|Net from restricted
funds|||||||17,143|
|From Stewardship
designated||fund||Tocover staff costs|||1,100|
|ToTree Disease fund designated|||fund|Tocover costs arising from tree||disease|(3,000)|
|To Election Expenses designated|||fund|Tocover costs ofelections to the Board|||(5,000)|
|ToCar park repair fund||||Tocover car|park repair costs||(5,000)|
||||||||(11,900)|
##
##
##
##
##
|Prior year|||||||||
|---|---|---|---|---|---|---|---|---|
||||||||Transfers||
|||||Balance 1st|Movement|Resources|(to)/from|Balance 31st|
|||||April 2019|incoming|outgoing|otherfunds|March 2020|
|||||E|E|E|E|E|
|Gift fund||||184,810|292,429|(12,996)|0|464,243|
|Higher
Level|Stewardship||fund|153,866|104,463|(80,603)|(11,569)|166,157|
|Countryside|Stewardship||fund|60,401|94,991|(73,689)|0|81,703|
|Thirds Wood|fund|||A346|183|0|(4,529)|0|
|Tree disease|fund|||6,000|0|0|3,000|9,000|
|Mountain
biking campaign||||948|0|0|(948)|0|
|Fundraising|support|fund||10,000|0|0|0|10,000|
|Charity Commission||Scheme - legal||36,346|0|(2,336)|0|34,010|
|consultation||||19,792|0|(18,903)|0|889|
|Election expenses fund||||16,086|0|(18,593)|5,000|2,493|
|Dog campaign||||4,330|302|(1,132)|0|3,500|
|||||496,925|492,368|(208,252)|(9,046)|771,995|
##
##
|21 U|nrestricted|pension fund||||||
|---|---|---|---|---|---|---|---|
|Current|year|||||||
|||Balance 1stApril|Movement|Resources|Transfers 8r|other|Balance 31st|
|||2020|incoming|outgoing||losses|March 2021|
|||6|6|6||6||
|Pension|Fund|(1,842,000)|0|(9,000)|(405,000)||(2,236,000)|
|Prior year||Balance 1st|Movement|Resources|Transfers|Brother|Balance 31st|
|||April 2019|incoming|outgoing||losses|March 2020|
|Pension|Fund|(1,834,000)||(20,000)||12,000|(1,8rl2,000)|
##
##
|Current year|Current year||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||Transfers||||
|||||Balance 1st|Movement|Resources|(to)/from|other|Net gains/(losses)|Balance 31st|
|||||Aprg 2020|Incoming|outgoing||funds|on investments|March 2021|
|||||E|E|E||E|E|E|
|Lands Maintenance|||fund|156,512|4,353|(989)||&4,353)|29,816|185,339|
|SDFfund||||453|0|0||0|0|453|
|Nature in Malvern|||book|1,844|889|0||0|0|2,733|
|Gifts||||9,707|0|0||0|0|9,707|
|Tree planting||||50|650|0||0|0|700|
|Picnic bench|donations|||183|0|0||0|0|183|
|Community|Woodland|||40,955|0|(Ii2,875)||1,920|0|0|
|Boost48iodiversity||||0|3,729|(750)||0|0|2,979|
|Land Purchase||(1992)fund||794,466|16,722|(5,413)||0|215,839|1,021,614|
|Parliamentary||fund||426,249|12,790|(2,616)|(1I4,552)||87614|509,485|
|Capital Outlay||Discharged fund||1464611|0|66929)||1,762|0|1,399,444|
|||||2,895,030|39,133|119,572|(15,223)||333269|3,132,637|
##
##
##
|23Analysis|ofnet|assets betwe|en funds|||||
|---|---|---|---|---|---|---|---|
|Current year||||||||
|||||Tangible|Pension|Other net||
|||Heritage assets|Investments|fixed assets|liability|assets|Total|
||||6||6|6||
|Restricted funds||||||||
|Capital Outlay Discharged
Parliamentary
fund
Land Purchase (1992)fund
Lands Maintenance
fund||1,060,261
0
0
0|0
492,595
1,019,971
182,193|339,183
0
0
0||0
16,890
1,643
3,146|1,399,444
509,485
1,021,614
185,339|
|Nature
in Malvern|book|0|0|0||2,733|2,733|
|5DF fund||0|0|0||453|453|
|Gift fund||0|0|0||9,707|9,707|
|Tree planting
Picnic benches||0
0|0
0|0
0||700
183|700
183|
|Boost48)odiversity||0
1,060,261|0
1,694,759|0
339,183||2,979
3843II|2,979
3132637|
|Unrestricted
funds||||||||
|General fund||||98,710|0|341,012|439,722|
|Designated
funds
Pension fund||||0
0|0
2256,000)|579,750
0|579,750
(2,256,000|
||||0|98,710|2256,000|920762|(1,236,528|
|||1,060261|1,694759|437893|(2,256000)|959,196|1896,109|
##
##
|Prior year||||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||Tangible fixed|Pension|Other net||
||||Heritage assets|Investments||assets|liability|assets|Total|
|Restricted funds||||||||||
|Capital Outlay|Discharged||1,060,261||0|403,840||510|1,464,611|
|Parliamentary|fund||0|404,838||0||21,411|426,249|
|Lands Acquisition||fund|0|792,334||0||2,132|794466|
|Lands Maintenance||fund|0|156,51|2|0|||156,512|
|Nature
in Malvern||book|0||0|0||1,844|1,844|
|SDF fund|||0||0|0||453|453|
|Gift fund|||0||0|0||9,707|9,707|
|Tree planting|||0||0|0||50|50|
|Prcnic benches|||0||0|0||183|183|
|Community
Woodland|||0||0|0||40.955|40,955|
||||1,060,261|1,353,|4|403,840|0|77,245|2,895,030|
|Unrestricted
funds||||||||||
|General fund||||||115,072|0|219,596|334,668|
|Designated
funds||||||0|0|771,995|771,995|
|Pension fund||||||0|(1,842,000)|0|(1,842,000)|
||||0||0|115,072|(1,842,000)|991,591|(735.337)|
||||1,060,261|1,353,684||518,912|(1,842,000)|1,068,836|2,159,693|
##
##
##
##
##
##
|||||2021|2020|
|---|---|---|---|---|---|
|Current service cost||||82,000|94,000|
|Interest on pension
liabilities||||91,000|95,000|
|Past service cost||||0|1,000|
|Administration
costs||||1,000|1,000|
|Expected return on plan assets||||(49,000)|(52,000)|
|Contributions
by employer||||(116,000)|(119,000)|
|Total pension cost charged within||net incoming|resources|9,000|20,000|
|Remeasurements
(Actuarial|loss/(gain))|||405,000|(12,000)|
|Total amount
(credited)/charged||to SOFA||414,000|8,000|
||||2021|2020|
|---|---|---|---|---|
||||E||
|Opening|defined benefit|obligation|3,876,000|3,984,000|
|Current|service cost||82,000|94,000|
|Interest|on pension
liabilities||91,000|95,000|
|Member|contributions||17,000|20,000|
|Actuarial|(gains)/iosses|on liabilities|536,000|(232,000)|
|Past service cost|||0|1,000|
|Benefits/transfers
paid|||(150,000)|(86,000)|
|Benefit obligation at end of period|||4,452,000|3,876,000|
##
##
|Changes
in the plan assets during t|he period to|31"March 2021 were|as follows:||
|---|---|---|---|---|
||||2021|2020|
||||E|E|
|Fair value of plan assets at beginning
Expected return on scheme assets
Administration
expenses|of period||2,034,000
49,000
(1,000)|2,150,000
52,000
(1,000)|
|Remeasurements
(assets) (Actuarial|gains/(losses)|on plan assets)|131,000|(220,000)|
|Employer contributions
Member contribtions|||116,000
17,000|119,000
20,000|
|Benefits/transfers
paid
Fair value of plan assets at end of period|||(150,000)
2,196,000|(86,000)
2,034,000|
|The weighted
-average|asset all|ocation at the peri|od-end
was as follows:||||
|---|---|---|---|---|---|---|
|||||Fair value at
Fair|value at||
|||||31stMarch
31stMarch|||
|||||2021|2020||
|Asset category
Equities
Government
bonds||||935,000
1,436,000
148,000|||
|Other bonds||||870,000|102,000||
|Property
Other||||123,000
268,000|118,000
218,000||
|Cash|||||12,000||
|||||2,196,000
2,034,000|||
|||||2021|2020||
|||||||E|
|Experience gains/(losses)
Experience gains/(losses)|on assets
on liabilities|||0
81,000|(220,000)
232,000||
|Weighted average assumptions||used to determine|benefit obligations at:||||
|||||2021||2020|
|Discount rate||||2.1 %||2.4%|
|Rate of increase in salaries||||4.2%||3.6%|
|Rate of increase in pension||||2.8%||2.2%|
|Rate of CPI inflation||||2.7%||2.1 %|
##
##
|2021:||||||
|---|---|---|---|---|---|
|||||2021|2020|
|Discount|rate|||2.10X|2.40 Yo|
|Rate of pension increase||||2.80yo|2.20 Yo|
|Assumed|life expectations|on retirement|age 65:|||
|Retiring|today - males|||22.7|22.6|
|Retiring|today - females|||25.1|25|
|Retiring|in 20years
- males|||24.4|24.2|
|Retiring|in 20years - females|||27.1|27.0|
##
|27 Financial instruments|||||
|---|---|---|---|---|
||||2021|2020|
|Financial assets measured at fair value|||1,157,684|1,353,684|
|Financial assets measured at settlement|value||1,051,127|1,103,977|
|Financial liabilities measured at settlement||value|(62,117)|(65,881)|
##
##
||||Unrestricte|Restricted|Total funds|Total funds|
|---|---|---|---|---|---|---|
|||Note|d funds|funds|2020|2019|
|fncome and endowments|from:||||||
|Donations
and legacies||3|297,820|1,200|299,020|94,513|
|Charitable
activities:|||||||
|Management
ofthe hills|and commons|7|722,812|4,617|727,429|731,643|
|Car parks|||289,167|0|289,167|269,281|
|Other trading
activities||4|39,168|3,232|42,400|34,973|
|Investments:|||||||
|Bank deposits|||3,145|0|3,145|2,691|
|Investment
portfolio|||0|48,172|48,172|55,719|
|Other||5|6,002|0|6,002|37,576|
|Total income|||1,358,114|57,221|1,415,335|1,226,396|
|Expenditure
on:|||||||
|Charitable
activities||6|1,102,149|80,004|1,182,153|1,185,930|
|Other expenditure
Total expenditure||6|0
1,102,149|0
80,004|0
1,182,153|6,425
1 192,355|
|Net gains/(losses)
on investments
Net income/(expenditure)||16|0
255,965|(150,702)
(173,485)|(150,702)
82,480|65,856
99,897|
|Transfers between funds|||22,709|(22,709)|0|0|
|Other recognised
gains/(losses)|||||||
|Actuarial
gains/(losses)
on defined benefit|||||||
|pension scheme
Net movement
in funds||27|12,000
290,674|0
(196,194)|12,000
94480|(167,000)
(67,103)|
|Reconciliation offunds:|||||||
|Total funds brought
forward
Total funds carried forward||24|(1,026,011)
(735,337)|3,091,224
2,895,030|2,065,213
2,159,693|2,132,316
2,065,213|