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2020-12-31-accounts

THE LTRSULA KEI'ES TRIIST TRU5TEES' REPORT AND ACCOUNTS 31 December 2020 Registered Charity No. 517200

THE URSULA KEYES TRUST TRUSTEES, REPORT AND ACCOUNTS 31 December 2020 Content$ Page Legal and Administrati￿¢ Details Trustecs. Repon Auditors. Report Statement of Financial Acliw ilies Balance Sheei Notes to the Accounts 10- 15

THE URSULA KEYES TRUST LEGAL AND ADMIYISTRATIVE DF.TAILS 31 December 2020 Registered Charity No. 517200 al Status The Ursula Kcjcs Tnjst was esrablishcd uiidLr a Trvst deed dated I l Dc¢emb¢r 1985 (as amended un 14 Julj 2016) and wa5 approi'cd by the Inland R¢wenue Charity Division on 14 March 1986. Tru$tee$ Mi- J F Kane {Cliairman) Mr J R L¢ainan Mr J A MLLiniock Mr J D Brimelow Mr E A Elliott Dr l A Russell DrPGReid Miss E J Redwnond {Appointed l O NoNefflber 2020) Addres$ clo RSM Onccity Place Quccns Road Chcster CHI 3BQ Bankers Handelsbanken Albion House Albion Streci Chester CHI IRQ solicitors DTM Legal LLP Archway Hou Station Road Chester CHI 3DR Auditors Cliainpion Accountants Ll.P Statutor) Auditors 2. Floor. Refuge Ilouse 33- 37 Wateigate Row C.liesi¢r CIII ?LE

THE URSULA KEYES TRliST TRI'FiTF.ES' REPORT 31 December 2020 The trustees present their report along wilh ihe financial statements of the charity for ihe year ended 31 December 2020. The financial slatcm¢nis hav¢ be¢n prepared in accoi'danLe w'ith the accouniing poli¢ies set oui on paLJe 9 to l O of the accouiits and comply with the charity's Trusi Deed. Ihe Charitie5 Act 2011 and Accounting and Reporting by Chariiies.. Financial Reporting Srandard applicable in ih¢ UK and Republic of Ireland (FRS102) (effective I st Januarv 20191. Structure? gofvernance and management The Trust is an unincorporated trusi, consriiuied under a tnisi deed dated I l December 1985 a5 amended on 14 Jul) 2016 aiid is a i-egist¢red ¢harity. number 517200. The Trust was esiablished b) Ursula Kcyes pi'ior to her death in 1989. The Trustees are recruited in a￿ordanCe wilh the Trust Deed which states thai the Trusi¢e body will k no more Ihaii 8 with at least 2 Ti'u%teL's being medical practitioners. The Trustees meet quarterly io decid¢ oil the graiii applications. I'eview the ini.'¢stment ponfolio and keep up to date oli all policy decisions which are minuted. All 8rani requesis falling in the correct geograpliical area aiE considered by the Trusiees. The Trusf assesges rclated party and conflict of interest 155ue5 annuall) b) the Compleiion of a I'elated party fom b). each Trusiee. A list of Trustee5 who have serv¢d during ihe year are set out on page l. N¢w Ti'uslees ait proposed ihrougli recommendaiions from an) of ihe Trustee body. The induction process for new Ti-usiees inwolwes meeting the Cliair and one oi. two other Ti'ustees io disCU55 iniJestmEnts, the grant making proccss atkd the respoiisibilities of a Ti'ustee Board. Trustees attend ts'aining cour%es as appropriate. Thei'e are no employee%. Th¢ Tru%tees haNe appointed agents to collect rents due on the Trust's behalf and adrniftistrator% who look after all tlie adminisirarii'e and finaiicial management requii'ements of the Ti'ust. ObjectiTres of tht Trust The Trustees confimi thai they have Irferrcd io tlie guidance contain¢d iii the charit￿ Commission s general guidanee on public benefit when I'LW iewing rhL Trusl's aims and objeciiKes and in planning future acti￿ iti¢s and setting the gi'ant Inaking policw for the year. The obj¢¢rives are.. Primarily (bui not exclusively) for ihe benefii of rhe inhabitanls of the area administe￿d by Cliester Distri¢t Council. The dissemination and iinproveinent of Inedical kiiowledge. skills and ihe care or ireaiment of patienis wliether in public or private hospitsls or nursing hom¢s l includiiig hospices) or in their own hom¢s. Revieiv of Aetivities and Achievements During the )'ear ended 31 De¢¢mber 2020 ihe Trust has supported a wide range of deqen.'ing causes in pur£uir of its charitable obJecti￿c$ as summarised in Noi¢ 2 to the accounts. Grants were only mad¢ in Itsponse io a specific applicarion eiiher for a specific purpose or ijcnture. for the general pui'poses of a chariiable applicant and for emergency Siiiiationq in th¢ case of indi￿ldUa1S. Grants of £5.000 or less can be agreed by a sub-comfflittee consistlng of the chairman and iwo other Trustecs.

THE URSLLA KEYES TRUST TRLSTF.F.S' REPORT 31 December 2020 (continued) Financial Review The Financial Activittes for th¢ year to 31 DeCem￿r 200 can be summarised as follows'.- 2020 £'ooo 308 (52) (16) 2019 £'ooo 352 Income from rents, dividends and interest Less.. Property costs Goi'ernBnce costs i?0) N¢t income awailable for grants Charitabl¢ granis Net increasel (decrease) in rc50urce5 for ihc year Add.. (jain￿ (Ios5es} oli investinents 240 (185) (228) 55 185 {27) (315) Net movement in funds for the year 240 1342) Incomc for tl)e )car consisted of gross renis reCei￿able on freehold In￿eStment prO￿rtieS £307,917 (019.. £350,655) and int¢r¢sl of £317 12019.. £749}. Expenditure ¢omprised property ¢osls £52,023 (2019.. £1 ?9.379}, bad debt M'ritten off in th¢ year of £nil (?019.. £9881, governance cosis £16,170 {1019.. £19,645). other cos15 of £476 (2019.. £446) and charitable grants of £184.66412019.. L?28.202). Following consultation with ihe 'frusts proTXrty advisor. the valuation of th¢ PrO￿rtY markel portfolio ai 31 December 20*0 has been rewalu¢d wrih a Increa￿ in the wnfolio value of £185.000. As a result. thc PTopeily portfolio valuation at 31 DeC¢M￿r 2020 is £4295.000. At the veal. end the net assets. Comprise freehold inieslmcn( properties at a valuation of £4.295,000 12019.. £4,11 0,000 and bank balanc¢s and debtors of £401.149 11019.. £354,331 } l¢ss sundry (r￿[tOrS & accruals of £52,349 (2019.. £60,432) Reserve's policy Th¢ Truste¢s l)ave ekamined the r¢quii'ement for free re5eives which are Ihose unrestricted funds not invested in fixed assets oi" otherw ise cominitted. fhey consider free r¢seTres of £?50.000 to be appropriate. Ai the balance shee( date the Trust had £348,800 (2019.. £293,899) of free reserves. The Trusiees plan to mainrain the free re5eD¥es at the leirel of £250.000 ofver the coming years in order . to fund a further property investrnent to proi ide larger Charithble granis 10 rmportanl projects as and when requiTed to protect its assets against fluctuations in ihe market lo cover administration and property costs.

THE URSULA KEYES TRUST TRUSTEESi' REPORT 31 December 2020 (continued) Risk review The Ti-ustees have examined the major risks io whi¢h the charity is exposed and systems havc b¢en established to miligaie Ihose risks. Ini¢rnal risks are m inimised by the iJJJplementation of pr(Kedures for authorisarion of all rransaciions and projects. Exrenial risks to funding had led io an invescmeni portfolio which generaies boih income and capital gr0￿h over a number of years. Future plans The Trustees intend to continue pi'ovidin8 graiits in a similar way and they intend to contlliue lookin8 for appi'opriate investment Opwrtuiiilies. Trustees. responsibilities in relation to the financial statements The laiv applicable to charilies in England and Wales requires the charity irustees io prepare financial staieinents for each year which gitre a true and fair N'i¢w of the stale of affairs of the chai'ity and of the incoming resources and applicatioii of I'esources of the charity for ihai period. In preparing the financial stateinents, th¢ irustces al'e requii'ed to.. select suitable accounting wlicies and ihen apply them consisi¢ntly observe the method5 and principles in the Charities SORP Inake jiidgemenrs and eslimates ihai ar¢ I'¢asonabl¢ and prudeni 51aie wli¢rher applicabl¢ accounting staiidards have beeii followed, subject to any matei'ial departures disclosed and explained in the financial statemenls. and prepare ihe financial 5¢at¢in¢n15 on rhe going Loncern basis uiiless it is inappropriate io pirsume that the charity will Continue in business. Thc trusiees art responsible for keeping proper accounting I'ecords tliat disclose with reasonable accuracy at any time the fiiianLial position of the charit>. and io enable them to ensure that rhe financial 51atements comply with the Charilies Act 201 l. the applicable Charities (Accounts and Reports) Regulations and Ilie provisions of the Trust deed. The>. are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detcction of fraud and oiher irr¢gularities. They are also I'esponsible for safeguarding the assets of the charity and hence for raking reasonable sreps for the pi'eveiition and deiecrion of fraud and other irregularities. Approved bj. the (rust¢¢s and signed on iheir behalf by.. By order of the Trustees JDLme Mr J D Brimelow Date '. Ig'oci68fr< JD21,

5

THE URSULA KEYES TRUST AUDITORS’ REPORT

Independent Auditors’ Report to the Trustees of The Ursula Keyes Trust

Opinion

We have audited the financial statements of The Ursula Keyes Trust (the ‘the trust’) for the year ended 31 December 2020 which comprise the statement of financial activities, the balance sheet and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the accounts section of our report. We are independent of The Trust in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report .�

Other information

The other information comprises the information included in the Trustee report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the Trustee report Our opinion on the financial statements does not cover the other information and, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

6

THE URSULA KEYES TRUST AUDITORS’ REPORT

Independent Auditors’ Report to the Trustees of The Ursula Keyes Trust (continued)

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing The Trust’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditors under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

Extent to which the audit is considered capable of detecting irregularities, including fraud

Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit

Audit procedures

We determine significant applicable laws and regulations through discussion with those charged with governance and our own knowledge of the sector and design audit procedures to help identify instances of non-compliance with those laws and regulations that may have a material effect on the financial statements.

We consider the applicable laws and regulations to be the financial reporting framework - the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102), the Charities Act 2011 and relevant tax regulations.

We consider the control environment and the procedures in place to address identified risks, including management override, non-compliance with laws and regulations and to prevent and detect fraud or irregularity. Our procedures are designed to provide reasonable assurance that the financial statements are free from material misstatement or error and include: enquiries of individuals in key compliance functions; review of minutes of meetings of those charged with governance; review and testing of manual journals and significant transactions outside the normal course of business; review of financial statement disclosures and testing to supporting documentation; performance of analytical procedures.

7

THE URSULA KEYES TRUST AUDITORS’ REPORT

Independent Auditors’ Report to the Trustees of The Ursula Keyes Trust (continued)

We are not responsible for preventing non-compliance and due to the inherent limitations of an audit, as described above, the audit cannot be relied upon to detect all instances of non-compliance with laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Susan Harris MA ACA (Senior Statutory Auditor)

19 October 2021 for and on behalf of Champion Accountants LLP ......................... Chartered Accountants Statutory Auditor 2nd Floor Refuge House 33-37 Watergate Row Chester CH1 2LE

Champion Accountants LLP is eligible for appointment as auditor of The Trust by virtue of its eligibility for appointment as auditor of a company under of section 1212 of the Companies Act 2006

THE URSULA KEYES TRiiST STATEMENT OF FINANCIAL ACTIVITIES (or the year ended 31 December 2020 L'nTe5tricltd 2020 2019 Note INC()ME In%'e5tment income: Rental incomc from invesmienl prope11ies in the UK Bank inicresi 307.917 317 350.655 749 Total income 308.234 351,404 EXPENDTURE Cost5 of r•i5ing funds 52,499 130.813 Expenditure eharitable activities 200.834 247.847 Toial expenditure 253,333 378.660 Net ineome before investments gainsl (losses) 54,901 (27,256) Nel investment gain￿ (losscsl 185,000 (315,000) Net income and net movement in funds 239,901 (342.2561 Fund balances brought forward 4,403.899 4.746.155 Fund balan¢es carried forward 4,643.800 4.403.899 All of the abO￿e results are d¢riv¢d from ¢ontinuin8 activities.

THE URSULA KEYF.S TRIST BALANCF. SHEET at 31 December 2020 2020 2019 Fixed a$se¢s Investments 4.295.000 4,110,000 Current assets Deb¢i)rs Cash ai bank and in hand 108,485 ?9?,664 89.436 264.895 401.149 354,331 Credilors: Ainounts falling due within one j.ear 152.3491 {60,432) Nei curreni assets 348.800 ?93,899 4.643.800 4,403,899 Funds Unresti'icted General 4.643.800 4,403,899 Approved and allthorised fnr issue hy ihe Trusie¢s onl£ocToscR.J é2ad signed on their behalf by.. Mrj D Brimelow Trustee

io THE LIRSLILA KEI'ES TRLST NOTF,S TO THE ACCOLINTS 31 De¢emb¢r 2020 Aeeounting policie5 Basis of aeeounting The financial stai¢m¢nts have been pr¢paied under the historical ¢05¢ ¢onv¢ntion w'ith items recogni%ed at cost or tran.4aciion kalue unless oiherwise sthted in the relewani notes to ihese accounts. The financial staietnents have been pr¢par¢d in accordance w ith the s￿lement of Re¢ommended Practice.. Accounting and Reportin8 bv Charities preparing their accounts in accordance w ith the Financial Rewrting Standard applicable in th¢ UK and Republic of Ireland {FRS 102} (effe¢iive I sl January 2019) and the Charilies Act2011. The financial statements are prepared in 5tcrling, which is the functional curi'ency of the entity and rounded 10 the nearest £. The trust constituies a public benefit entily as defined by FRS 102. Going Concern The Trustees hai'e considered the likel) level of income and expenditure for the foreseeable future. The Trustees are saiisfsed ihat the charity can meet its obligations as and when thes fall due. Ac¢ordingly, the going concern basis of prepai'aiion is appropriate for these financial siateinents. Incoming Resources All incoming resources are inLluded in the Staiement of Financial Actii'ilies ISOFAI when the chai'ity is legall) eniitled to ihe income and the amount can be qLiantified with reasonable accuraev. The following specific policies are applied to particular categorie5 of incc)me'. Inv¢stment income and bank interest 15 included when receiN'able. Renial income is included in full in the Statement of Financial Actii'ities in the period in which tlie Trusi is eniiiled to the receipt. Direct charitable expendif ure Expenditure is accounted for on an accruals basis. Costs of generating funds are those costs incurred in maintaining ihe propert). portfolio. charl￿b]e activities include expenditure associaied w'itli the running of the charity and include knth the direct Costs and support ¢osts relating to tlios¢ actitrities. Grants payable are paym¢nts made to third parties li) furtl)¢ran¢e of th¢ charity s objects under the terms of (he trust deed. Cjrants that are approwed by the Trustees and authorised for pa) ment are accrued in the financtal statemenis. CJrants approved but not authorised for payment noi a¢¢rued a5 expenditure. Govemance cos15 comprise the costs of running the charitable Irust. including straiegic planning for its future de￿elOpMent. audit and legal fees and all the costs of compl)'ing with constitutional and statutory requiremen[& such as any costs of trustee meetings. of preparing slatutory accounts and satisfying public accountability.

THE URSULA KEYES TRUST OTES TO THE ACC.011 NTS 31 De¢ember 2020 A¢countin% polieies (continued) Taxation The Trust is a registered charity and generally exempi from tsxatioii. Freehold investmeftt propertles Freehold investment properties are initially recognised at their iransaclion value and subsequently measured at their market value as at tlie balance sheet date. The properties ale forJnally &alued by an external valuer every five years and on an annual basis the Trvstees update the i'aluation followin8 coiisultation with the Trusts propeily adviser if th¢i'e has been a significant change in market values. The next full external valuation is due to take pla¢¢ on 31 December 2021. Debtors Debtors are measured on initial i-ecognition at settlement amount. Subsequently they are measured ai the cash or other consideration expected to be received. Creditors The Trust has creditors ￿,hICh are measured at settlement amounts less any discounts. Provisions for liabilities A liabi lily is measured on recognition al its historical cost and th¢n subsequently measured at the best estimate of the amount required io settle the obligation ai the reporting date. Irrecoverable VAT Irrecoverable V A T is charged as a cosl to the SOFA. Fund Accountirbg General Funds are unrestt'icted funds ￿'hICh are aN'ailable for use ai the disir¢fi(In of the Trus(¢cs in furtherance of the generdl objectives of tlie Charity and ￿'hILh have noi beell designaied foi. other purposes. Charitable Expendlture Basis of Apportionment Total 2020 Total 2019 Gi'ants payable Gofvemance costs Actual Actual Nlote 2a Note 2d 184.664 16,170 2•8,20 19.645 200.834 ?47.847

12 THE URSULA KEYES TRUST OTES TO THF. ACCOUNTS 31 De¢emb¢r 2020 Grants payable Thc charit). did noi undertake any activity directly but mel its charitable purrK)ses by Tnaking grdnts 10 Institution5 and indii iduals. Th¢ total amount of grants payable. analysed between institutional grants and grants to individuals are as follows. Institutions (note 2b) Individuals (note 2c) Total 2020 Total 2019 Charitable grants p&yable 184.664 184,664 228,202 2b Grants to Institution5 Total unrestricted funds 2020 2019 Grants to Institutions A Ider Iley Children's Charit Bishops Blue C'oat Church of England khool Broughton Bcll¢s Netball club Bread Togethcr Chapter (11 est Cheshire) Ltd c.heshire Phoenix Wheelchair Baskctball Club C.hcshire Auli5m PrdLii£al School c.hester Aid to Ihe Homeless "rhe Chesier Male Voice Choir c.hester FC Community Trusl Chester Scouts Cheshire Young Corers Ltd City of Chesrer imming Club The Countes4 Charity Claire Hou%e Court Based Support DSL Friends of Mulberry Go KidsGo Guide Dogs Trlead Injured Peuple in Cheshi Hearing Dogs for Deaf People The I lelpin8 Hand L o Ltd Hospice of th¢ Good Shepard Huntington s Disease Foundaiion INSPIRE Foundation Kingswa!, Chapel Lache Primary School New Scene Youth Club MicKle Trafford School North West Air Ambulance Neuro Therap> Centr¢ Oldfield Pre %cho()I Passion for Learning 7,096 1.730 5.000 ?.340 ,500 5.000 4,000 14.470 2.877 40.000 5.000 2,906 5.000 2.341 3,704 2,000 2,325 5.000 1,000 1,000 2.660 1.500 500 23.842 2.000 5,000 2.000 1.300 ?.000 8,000 1,500 i 00.000 13.995 10,308 25,000

13 THE URSULA KEYES TRLST NOTE.S TO THE ACCOL'YTS 31 December 2020 2b Grants to Institutions (continued) Ro￿.a1 Chester Rowing Club Sa&e thc Family l.im ited Shine Charity Space Stick & Slep Strok¢ Association Thc DruEwaicli The Garden Quarter Association I'he Wingdale Special Children Trusl Vision Support Vital Signs Foundaiion Walking with the Wouiid¢d W'est Clieshire Athletic Club Whizi - Kidz W'oodmork to Wellness Donations under £ 1.000 (irants M ri11en off 8,008 5,000 9,000 1.165 9,OIM) 1.000 3.970 3.000 i.soo 30.000 1.000 2.000 1,000 2.129 184.664 220.202 Grants to Individuals 2020 2019 Grants to Indii'iduals Total amounr paid in aggregate 8.000 8,000 Number of individuals who receiTred grants Total of charitable gi?nts payable 184.664 228.202 2d Governanee costs Basis of Apportionment Total 2020 Total 2019 Legal and Profc8sional fees Statutory audit fccs Actual Actual 11.985 4,185 15.660 3,985 16.170 19,645

14 THF. liRSULA KF.YF.S TRliST NOTF,S TO THE ACCOLNTS 31 December 2020 Cosls of raising funds Basis of Apportionment Total 2020 Total 2019 Propertl, Costs Website costs Bank inieresi and charges Bad debts (recoveredy charged Actual Actual Actual Actual 52,023 150 326 129,379 160 988 52.499 130.813 Tolal resources expended No staff are cmployed by the Trust. The Trustees rec¢ived no remuneraiion. or incurred any other expenses during tlie )tai'. Fixed asset investments Total 2020 Total 2019 Market Value- blfwd al l January Djsposals Revaluaiion 4.110.000 4,425,000 185,000 1315.000) Market value clfwd at 31 December 4,295,000 4,110,000 14istorical cosi 4,062,154 4,06? 154 Tl)e in￿eStMe171 propcities were fom)all J. walued at 28 January ?015 bj Mr R He>'es FRICS, Chartered Suri'eyor on behalf of Bolton Birch Chartered Surievors. Follow'ing consultation w'ith the Trust5 property advisor, the valuation of ihe property market portlolio has ken ainended 10 rhe values in¢luded in ihis report updated for fuithei. propeit). valuation movements in the year eiided 31 December 2020. Deblors 2020 2019 Rents due from tenanis and property agents Pi"epaymenis and accrLied Income Value Add¢d Tax 104.320 4,165 84.782 4.654 108,485 89,436

Is THE URSULA KEYF.S TRUST I OTF.S TO THF. ACCOLINTS 31 December 2020 Creditors: amounts falling due within one year 2020 2019 Accruals and deferred income Value added tax Other creditors 40,506 10.178 1.665 48.704 11.728 52,349 60.432 Related Parties The trustees all give their tiine and expertise freely wiihoul any forni of IEmuneration or other benefii in cash or kind12019.. £nill. No related party. ti'ansactions arose during the year.