2021-04-05-accounts - George Hudson's Charity

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Charity Number: 527204

George Hudson’s Charity

Unaudited Financial Statements For the year ended 5 April 2021

George Hudson’s Charity

	Index
	For the year ended 5 April 2021
	Charity Number: 527204
Contents	Pages
Legal and Administration Details	2
Trustees’ Report	3 - 5
Report of the Independent Examiner	6
Statement of Financial Activities	7
Balance Sheet	8
Notes to the Financial Statements	9 - 15

Page 1

George Hudson’s Charity

Legal and Administration Details

For the year ended 5 April 2021 Charity Number: 527204

Trustees Mr. P. W. Taylor (Chairman) Mr. G. L. Spencer Mrs. D. McKenzie Mr. G. E. Brown Mr. P. R. Wood Mrs. G. Walker Mr. M. Dixon

Secretary Mr. G. Johnston

Address 47 John Street Sunderland SR1 1QU

Bankers Barclays Bank plc 53 Fawcett Street Sunderland SR1 1RS

Independent Examiners Torgersens Somerford Buildings Norfolk Street Sunderland SR1 1EE Solicitors McKenzie Bell Limited 47 John Street Sunderland SR1 1QU

Investment Advisers Brewin Dolphin Time Central Gallowgate Newcastle Upon Tyne NE1 4SR

Page 2

George Hudson’s Charity

Trustees’ Report

For the year ended 5 April 2021

Charity Number: 527204

The trustees present this report together with the financial statements of the Charity for the year ended 5 April 2021. The financial statements have been prepared in accordance with the accounting policies set out on pages 9 to 10 and comply with the current statutory requirements, the requirements of the charity’s governing document and the current Statement of Recommended Practice.

Structure, Governance and Management
1.1 The Charity known as George Hudson’s Charity was founded by a Scheme made by the Charity Commissioners under the Charitable Trusts Acts 1853 to 1887 on 5 August 1890 – registered charity number 527204 as varied by Schemes made by the Minister of Education on 20 November 1947 and 12 October 1960 and amended by a Scheme dated 24 January 1991.
1.2 The Charity is an endowed charity, and all administrative charges are discharged out of income; subject thereto all the income is applied to the objects of the Charity.
1.3 The trustees are appointed by resolution of the existing trustees and are at present 7 in number. The maximum number is eight.
1.4 Meetings of the Trustees are held six times a year at which all decisions regarding investments and payments of benefits are made.
1.5 The Charity employs a part-time administrator who deals with the payments to beneficiaries. All other administrative matters are dealt with by the Secretary, Mr G. Johnston who is a solicitor at McKenzie Bell Limited, Solicitors, Sunderland.
1.6 The Charity owns the freehold premises 54 John Street, Sunderland.
1.7 The administrator is also employed part time by The Sunderland Orphanage and Educational Foundation (the Foundation) and the Secretary is also Secretary of the Foundation. The objects of the Foundation are to benefit persons of either sex under the age of 25 years who are resident in the former County Borough of Sunderland and the neighbourhood whose parents or one of whose parents are dead, disabled, separated or divorced and who are in need of financial assistance.
Objectives and Activities
2.1 The objects of the Charity are the education, maintenance, support and clothing of boys and girls whose father is dead or incapacitated first preference, other things being equal, for such of them as are children of sailors or pilots belonging to the Port of Sunderland and a second preference, other things being equal, for such of them as were born and are resident in the Ancient Township of Monkwearmouth.
2.2 The charity aims to meet its objects through the payment of monthly allowances and provision of clothing vouchers to those children and young people who qualify as beneficiaries under the terms defined in the said objects.
2.3 The charity seeks to raise the necessary funds to meet its objects through investments in listed company shares and UK gilts.
Public Benefit Statement
3.1 The trustees have had regard to the Charity’s Commission guidance on their legal duty on public benefit, and are satisfied that the Charity delivers public benefit, and due regard is paid to the guidance on public benefit when deciding on what new projects the charity should undertake.

Page 3

George Hudson’s Charity

Trustees’ Report

For the year ended 5 April 2021

Charity Number: 527204

Achievements and Performance
4.1 As at 5 April 2021 there were 44 children receiving allowances and all children eligible to receive allowances during the year received their allowances.
Financial Review
5.1 The trustees’ policy in relation to reserves is to ensure that in the event of a significant reduction in income the trustees could at least maintain the regular payments to those beneficiaries who have come to rely on them.
5.2 The free reserves of the charity excluding investments held in the general fund amount to £20,012.
5.3 The cash funds of the charity at 5 April 2021 have decreased by £22,650.
5.4 Total payments to beneficiaries have decreased by £5,639 over the previous year.
5.5 The income of the charity has decreased during the year by £900.
5.6 During the year £56,900 was spent on remediation works due to dry rot in 54 John Street. Capital improvements were £3,600 for a new heating system in the basement of 54 John Street.
Statement of Trustees’ Responsibilities

6.1 The Trustees are required to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Charity and of the Statement of Financial Activities of the Charity for that period. In preparing those accounts the Trustees are required to:

select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
follow the recommendation of the Charity Commission and of the accounting profession with regard to form and content of the financial statements and to disclose and explain any departures therefrom; and
prepare accounts on the going concern basis unless it is inappropriate to presume that the Charity will continue to operate.

The Trustees are responsible for keeping proper records which disclose with reasonable accuracy at any time the financial position of the Charity. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and the detection of fraud and other irregularities.

6.2

Insofar as the trustees are aware:

there is no relevant information of which the charity’s independent examiners are unaware; and
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish the independent examiners are aware of that information.

7. Investment Policy and Performances

7.1 The Trustees’ investment objective is to maintain and enhance the value of the fixed assets over the long term in order to maintain and if possible, increase the income available for the purposes of the Charity.

7.2 To achieve this objective the policy of the Trustees is to invest in a broad range of equities and fixed interest investments. The investments are reviewed, with professional advice, at least six times a year and their performance compared with the appropriate indices. Taking into account market factors being adversely impacted by COVID-19, investment performance has been satisfactory.

Page 4

George Hudson’s Charity

Trustees’ Report

For the year ended 5 April 2020

Charity Number: 527204

Risk Assessment

8.1 The Trustees have considered any risks to which the Charity might be exposed and are satisfied that the administrative, investment and financial procedures which are in place minimise the risk of any loss to the Charity.

Approved by the Trustees on and signed on their behalf by:

Chairman

Trustee

Page 5

Report of the Independent Examiner’s to the Trustees of

George Hudson’s Charity

Year Ended 5 April 2021

I report on the financial statements of the Charity for the year ended 5 April 2021 which are set out on pages 7 to 15.

Respective responsibility of trustees and examiner

The Charity’s Trustees are responsible for the preparation of the financial statements. The Charity’s Trustees consider that an audit is not required for the year under Section 144(2) of the Charities Act 2011 (“the 2011 Act”) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination it is my responsibility to:

examine the accounts under Section 145 of the 2011 Act;
to follow the procedures laid down in the General Directions given by the Charity Commissioners (under Section 145(5)(b) of the 2011 Act); and
to state whether particular matters have come to my attention.

Basis of independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the unaudited financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the unaudited financial statements and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the unaudited financial statements present a “true and fair view”, and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

which gives me reasonable cause to believe that in any material respect the requirements;
to keep accounting records in accordance with section 130 of the 2011 Act; and
to prepare financial statements which accord with the accounting records, comply with the accounting requirements of the Charities Act

have not been met; or

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

Mrs Alison Henshaw Torgersens Chartered Accountants Somerford Buildings Norfolk Street Sunderland SR1 1EE

Date:

Page 6

George Hudson’s Charity

Statement of Financial Activities

For the year ended 5 April 2021

		Unrestricted	Restricted	Endowment
		Income	Income	Capital	Total Funds	Total Funds
Notes		Fund	Fund	Fund	2021	2020
		£	£	£	£	£
Income
Donations and Legacies	2	388	8,725	-	9,113	8,500
Other income	3	10,453	-	-	10,453	6,586
Investment Income	4	14,658	-	-	14,658	20,038
		______	______	_____	______	______
Total Income and endowments		25,449	8,725	-	34,224	35,124
Expenditure
On Charitable Activities	5	80,763	5,228	4,269	90,260	42,520
Net Losses/(Gains) on
investments		666	-	(101,851)	(101,185)	100,293
Gains on revaluation of freehold	9	-	-	-	-	(105,056)
property
		_	___ __	_	_	______
Net Income/Expenditure		(55,930)	3,497	97,582	45,149	(2,633)
Transfers between funds		(3,600)	-	3,600	-	-
		______	______	_	_	______
Net movements in funds		(59,530)	3,497	101,182	45,149	(2,633)
Total funds at 6 April 2020		79,542	200	543,166	622,908	625,541
		______	____	_	_	_
Total funds at 5 April 2021		20,012	3,697	644,348	668,057	622,908

All operations are classed as continuing.

The notes on pages 9 to 15 form part of these financial statements

Page 7

George Hudson’s Charity

Balance Sheet

as at 5 April 2021

Unrestricted Restricted Endowment Income Fund Income Fund Capital Fund Notes 2021 2021 2021 £ £ £ Fixed Assets Property 9 - - 41,077 Investment Property 10 - - 112,500 Investments 11 - - 474,849 - - 628,426 Current Assets Debtors 12 2,616 - 17,144 Balances at Bank 22,804 3,697 (1,222) _ _ _ 25,420 3,697 15,922 Creditors: Amounts falling due within one year 13 (5,408) - - _ _ _ Net Current Assets 20,012 3,697 15,922 Net Assets 20,012 3,697 644,348 Represented by: Funds 14 20,012 3,697 644,348	2021 £ 41,077 112,500 474,849 628,426 19,760 25,279 _ 45,039 (5,408) _ 39,631 668,057 668,057	2020 £ 37,500 112,500 425,523 575,523 6,785 47,929 _ 54,714 (7,329) _ 47,385 622,908 622,908

Authorised & Approved by the Trustees on_____

…………………………………………………….Trustee

The notes on pages 9 to 15 form part of these financial statements

Page 8

George Hudson’s Charity

Notes to the Financial Statements

for the year ended 5 April 2021

1 Accounting Policies

a Basis of Preparation

These unaudited financial statements have been prepared under the historical cost convention as modified by the inclusion of investments at market value, and in accordance with:

i) the Statement of Recommended Practice: Accounting reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) issued in January 2015 (SORP 2015)
ii) the Financial Reporting Standard applicable in the UK and republic of Ireland (FRS 102)
iii) the Charities Act 2011

The unaudited financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these unaudited financial statements are rounded to the nearest £. b Incoming resources

Dividends are included in the Statement of Financial Activities when the right to receive payment is established.

Bank interest is included in the Statement of Financial Activities on receipt.

Cash donations are included in full in the Statement of Financial Activities as soon as they are received.

Rental income is included in the Statement of Financial Activities when receivable.

Investment gains and losses includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

c Expenditure and liabilities

All expenditure, other than that which has been capitalised is included in the Statement of Financial Activities. The value of purchase invoices received before the year end but not paid until after the year end has also been included in the Statement of Financial Activities.

Grants payable to beneficiaries are included in the Statement of Financial Activities when the charity’s obligation has been established. The value of such grants that are unpaid at the year end is accrued.

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

d Fixed asset investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price.

The charity does not acquire put options, derivatives or other complex financial instruments.

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

e Tangible fixed assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Page 9

George Hudson’s Charity

Notes to the Financial Statements

for the year ended 5 April 2021

1 Accounting Policies (continued)

f Depreciation

Depreciation is calculated to write off the cost or valuation, less estimated residual value, of tangible fixed assets (excluding freehold land) over their estimated useful lives to the business. The annual depreciation rates and methods are as follows:

Improvements to property – 5% straight line

g Impairment

At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

h Funds

Endowment funds are funds, the capital of which must be maintained; only income arising from investment of the endowment may be used either as restricted or unrestricted funds depending upon the purpose for which the endowment was established. Transfers to and from funds are made as designated by the trustees.

Restricted funds represent (a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest, and (b) donations or grants received for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the year end must be carried forward as a balance on that fund. Transfers to and from funds are made as designated by the trustees.

Unrestricted (General) funds represent the funds of the charity that are not subject to any restrictions regarding their use and are available for application on the general purposes of the charity. Transfers to and from funds are made as designated by the trustees.

i Operating leases

Lease income is recognised in profit and loss on a straight-line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

j Investment Property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in income or expenditure.

k Going Concern

There are no material uncertainties about the charity’s ability to continue.

Page 10

George Hudson’s Charity

Notes to the Financial Statements

for the year ended 5 April 2021

2
Donations and Legacies
2021
£
Donations
9,113
Donations comprised of £388 unrestricted (2020: £nil) and £8,725 restricted (2020: £8,500)
3
Other Income
2021
£
Rents receivable
10,453
Rents receivable comprised of £10,453 unrestricted (2020: £6,586)
4
Income from investments
2021
£
Dividends – Equities
14,634
Interest on cash deposits
22
UK fixed interest
2
_

14,658

Income from investments comprised of £14,658 unrestricted (2020: £20,038).
5
Expenditure on Charitable Activities
2021
£
_Education, Maintenance & Support of Beneficiaries
Monthly cash payments
9,960
Clothing & footwear
5,228
Christmas bonus
1,350
_
16,538
_Management & Administration of the Charity
Cleaner
303
Rates
256
Heat, light & water
33
Insurance
568
Repairs & maintenance
57,293
Depreciation (Endowment Fund)
23
Telephone
-
Postage
101
Administrator
2,200
Audit and accountancy
2,394
Management Fees (£4,646 Endowment Fund)
8,459
Mr Clarke
322
Legal & professional fees
1,770
Letting fee
-
____
73,722
90,260

2020
£
8,500
2020
£
6,586
2020
£
19,892
91
55
_
20,038
2020
£
10,528
10,474
1,175
__
22,177
299
306
(309)
1,279
1,992
-
(2)
26
2,200
2,274
9,166
322
1,590
1,200
____
20,343
42,520

Expenditure on charitable activities comprised of £80,763 unrestricted (2020: £27,240), £5,228 restricted (2020: £10,474) and £4,269 relating to the Endowment Capital Fund (2020 : £4,806)

Page 11

George Hudson’s Charity

Notes to the Financial Statements

for the year ended 5 April 2021

6 Staff Costs and Numbers

Staff Costs and Numbers Gross wages	2021 £ 2,200 _____ 2,200	2020 £ 2,200 _____ 2,200

No employee had employees benefits in excess of £60,000. The average number of employees during the period was 1 (2020: 1)

7 Trustees Remuneration, Expenses and Key Management Personnel

During the current and preceding year, the trustees did not receive any remuneration.

During the year trustees were reimbursed for out of pocket expenses amounting to £nil (2020: £nil).

The key management personnel of the charity comprise of the secretary only. The total employee benefits of the key management personnel of the charity were £nil (2020: £nil)

8 Realised Gains & Losses on Investment Assets (Endowment Fund unless otherwise stated) Gains on Sale/Reorganisation of Investments CF Miton Close Brothers Group Royal Dutch Shell Smiths Group Whitbread Allianz Aviva Investors UK Coupland Henderson FE Inc Unilever Brit Amer Tobacco First State Inv Glb J P Morgan AM UK Ltd Reckitt Benckiser UK (GOVT OF) 0.75% BDS Aberdeen Std European Invesco Fund Managers Losses on Sale/Reorganisation of Investments JP Morgan GL Inc Pimco Global Advis RSA Insurance M & G Investment High Yield UK(GOVT OF) 1.75% GILT BP HSBC Imperial Tobacco Lloyds Banking Vodafone Group UK (GOVT OF) 2% SNR UK (GOVT OF) 1.5% SNR UK (GOVT OF) 0.125% IDS UK (GOVT OF) 0.625% SNR UK (GOVT OF) 0.125% SNR UK (GOVT OF) 0.5% SNR	_	2021 £ - - - - - 616 11,078 - - - 1,062 416 - 1,082 10 1,160 450 __ 15,874 - - - - - (4,267) (4,336) (1,015) (3,671) (2,720) (316) (283) (99) (83) (72) (60) ____ (16,922) (1,048)	2020 £ 750 2,245 2,186 4,446 8,130 - - 2,887 559 2,970 - - 5,318 - - - - __ 29,491 (24) (266) (1,403) (516) (320) - - - - - - - - - - - ____ (2,529) 26,962

Page 12

George Hudson’s Charity

Notes to the Financial Statements

for the year ended 5 April 2021

9	Fixed Assets		Property
			£
	Cost
	At 6 April 2020		37,500
	Additions		3,600
	Fair Value at 5 April 2021		41,100
	Depreciation
	At 6 April 2020		-
	Charge for the year		23
	At 5 April 2021		23
	Fair Value
	At 5 April 2021 Net Book Value		41,077
	At 5 April 2020		37,500
10	Investment Property		Property
			£
	Fair Value
	At 5 April 2021		112,500
	At 5 April 2020		112.500
	The property held within fixed assets and investment property is classified as a mixed-use property. The
	property was revalued on 23rdJune 2020 by Lofthouse & Partners on the basis of open market value.
	The historic cost of the building is as follows:
		2021	2020
		£	£
	Freehold property	5,460	1,860
	Property improvement	79,468	79,468
		84,928	81,328
	The historic cost is split on the same proportion as the fair value at 25%	fixed assets and 75% investment
	property.
11	Fixed Assets Investments	2021	2020
		£	£
	Quoted U.K. Investments
	Market Value at 6 April 2020	425,523	517,910
	LessDisposals at market value (Proceeds £157,920 plus loss £1,048)	(158,968)	(130,389)
	AddAcquisitions at Cost	106,061	165,256
	Net Loss on Revaluation at 5 April 2021	102,233	(127,254)
	Market Value at 5 April 2021	474,849	425,523
	Investments at market value comprised:
	UK Equities	151,456	137,254
	UK Fixed Interest Securities	-	35,706
	Unit Trusts and Investment Trusts	323,393	252,563
		474,849	425,523
	Historical Cost at 5 April 2021	404,981	458,063
	There were individual investments held at 5 April 2021 which are over 5%	of the portfolio by value.
		Market Value	%
	Baillie Gifford
	Holding of 1,400	24,220	5.10
	Blackrock FM
	Holding of 15,750	27,484	5.79
	JP Morgan US Equity
	Holding of 23,000	29,808	6.28
	Ishares
	Holding of 1,200	34,607	7.29
	SSGA
	Holding of 660	31,126	6.55
12	Debtors	2021	2020
		£	£
	Prepayments	-	734
	Other debtors	19,760	6,051
		19,760	6,785

Page 13

George Hudson’s Charity

Notes to the Financial Statements

for the year ended 5 April 2021

13
Creditors: amounts falling due within one year
2021
£
Accruals
3,309
Other creditors
2,099
_
5.408
14
Funds
B/fwd
Incoming
Outgoing
Gains
@ 06.04.20
Resources
Resources
Transfers
& (Losses)
@
£
£
£
£
£
Endowment Fund
566,763
-
(4,269)
3,600
(145)
Other Reserves
(23,597)
-
-
-
101,996
Total
__
_
_

_
Endowment Funds543,166
-
(4,269)
3,600
101,851
Restricted Funds:
Clothing Fund
-
8,725
(5,228)
-
-
Confectionery Fund
200
-
-
-
-
Total
_
_
_
_
_
Restricted Funds
543,366
8,725
9,497
3,600
101,851
B/fwd
Incoming
Outgoing
Gains
@ 06.04.19
Resources
Resources
Transfers
& (Losses)
@
£
£
£
£
£
Endowment Fund
544,288
-
(4,806)
-
27,281
Other Reserves
(1,233)
-
-
-
(22,364)
Total
__

__
__
Endowment Funds543,055
-
(4,806)
-
4,917
Restricted Funds:
Clothing Fund
-
8,500
(10,474)
1,974
-
Confectionery Fund
200
-
-
-
-
Total
__
_
_
_
_____
Restricted Funds
543,255
8,500
(15,280)
1,974
4,917

2020
£
3,576
3,753
_
7,329
Balance
05.04.21
£
565,949
78,399
_
644,348
3,497
200
_
648,045
Balance
05.04.20
£
566,763
(23,597)
_
543,166
-
200
_____
543,366

The clothing fund represents a donation from the Sir John Priestman Charity to help towards the purchase of clothing vouchers to be distributed to the beneficiaries. All the funds were spent in the year.

The confectionery fund represents a donation received to purchase Easter eggs to distribute to the beneficiaries. At the balance sheet date £200 remained to be spent on Easter eggs.

@ Unrestricted Funds General Reserves Other Reserves Total Unrestricted Funds @ Unrestricted Funds General Reserves Other Reserves Total Unrestricted Funds	B/fwd Incoming Outgoing Gains 06.04.20 Resources Resources Transfers & (Losses) @ £ £ £ £ £ 79,556 25,499 (80,763) (3,600) (903) (14) - - - 237 _ _ _ _ _ 79,542 25,499 (80,763) (3,600) (666) B/fwd Incoming Outgoing Gains 06.04.19 Resources Resources Transfers & (Losses) @ £ £ £ £ £ 82,465 26,624 (27,240) (1,974) (319) (179) - - - 165 _ _ _ _ _ 82,286 26,624 (27,240) (1,974) (154)	Balance 05.04.21 £ 19,789 223 _ 20,012 Balance 05.04.20 £ 79,556 (14) _ 79,542

Page 14

George Hudson’s Charity

Notes to the Financial Statements

for the year ended 5 April 2021

15 Related Party Transactions

There were no related party transactions incurred during the year (2020: £nil) and £nil were outstanding to related parties at the balance sheet date (2020: £nil).

16 Analysis of Net Assets Between Funds

	Unrestricted	Restricted	Endowment	Total Funds
	Income Fund	Income Fund	Capital Fund	2021
	£	£	£	£
Tangible Fixed Assets	-	-	41,077	41,077
Investment property	-	-	112,500	112,500
Investment	-	-	474,849	474,849
Other debtors	2,616	-	17,144	19,760
Cash at bank	22,804	3,697	(1,222)	25,279
Creditors	(5,408)	-	-	(5,408)
	_	______	_	_
	20,012	3,697	644,348	668,057

	Unrestricted	Restricted	Endowment	Total Funds
	Income Fund	Income Fund	Capital Fund	2020
	£	£	£	£
Tangible Fixed Assets	-	-	37,500	37,500
Investment property	-	-	112,500	112,500
Investment	35,706	-	389,817	425,523
Other debtors	3,436	-	3,349	6,785
Cash at bank	47,729	200	-	47,929
Creditors	(7,329)	-	-	(7,329)
	_	______	_	_
	79,542	200	543,166	622,908

Page 15

INSERT 2021 INVESTMENTS EXCEL SCHEDULE