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|CONTENTS||Page|
|Legal and Administration|Informanon||
|Report ofthe Governors||2 —6|
|Governors'
responsibilities|in the preparation of||
|Financial Statements|||
|Independent
Auditors Report||8-11|
|Statement ofFinancial Activities||12|
|Balance Sheet||13|
|Notes to the Accounts||14-24|
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|Charity Registration|Number|528672||||
|---|---|---|---|---|---|
|Governors||Rev. David Poultuey|(Chair)|||
|||Mrs Jane Corrigan||||
|||Cllr John Haynes||||
|||Ms April Gold (appointed||7October 2020)||
|||Canon Linda Wainscot (retired|||1August 2020)|
|||Mr Vincent Taylor (to June 2020)||||
|||Mrs Judith Knight||||
|||Mrs Beryl Knight||||
|||Mr Keith Corrigan||||
|||Mr Mark Gutteridge||||
|||Mr Alan Lewis
(resigned 12May 2021)||||
|||Mr John Savin-Baden||||
|||Cllr Richard Chattaway||(toJune 2020)||
|||Mr Robert Maggs (appointed 20January 2021)||||
|Clerk||Daniel Blood, Band Hatton Button, Solicitors||||
|Principal Address||Band Hatton Button||||
|||Earlsdon Park, 53-55|Butts Road|||
|||Coventry, CV12BH||||
|Bankers||Santander Bank Pic||||
|||Bootle||||
|||Merseyside||||
|||L304GB||||
|Solicitors||Band Hatton Button||||
|||Earlsdon Park, 53-55|Butts Road,|||
|||Coventry, CV1 2BH||||
|Auditors||Bishop Simmons Limited||||
|||Chartered
Accountants||||
|||Mitre House, School|Road|||
|||Bulkington,
Bedworth||||
|||CV129JB||||
|Agents||Godfrey-Peyton||||
|||Chartered
Surveyors||||
|||Old Bablake, Hill Street||||
|||Coventry, CV1 4AN||||
|Stockbrokers||Quilter Cheviot||||
|||Provincial House||||
|||37New Walk, Leicester,||LE1|6TU|
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||||Notes|2020|2019|
|---|---|---|---|---|---|
|Income||||||
|Investment
income|||3|303,134|391,211|
|Expenditure||||||
|Expenditure
on raising funds|||4|28,434|17,029|
|Expenditure
on charitable
activities|||5|350,668|354,315|
|Total expenditure||||379,102|371,344|
|Net (expenditure)|income|||(75,968)|19,867|
|Net (Losses) Gains|on invesiment|assets|8|(167,026)|703,253|
|Net movement
in|funds|||(242,994)|723,120|
|Reconciliation offunds:||||||
|Total funds brought|forward|||10,694,096|9,970,976|
|Total funds carried forward||||10,451,102|10,694,096|
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||||||Notes||2020||2019|
|---|---|---|---|---|---|---|---|---|---|
|Fixed assets||||||||||
|Tangible assets||||||||||
|Land and buildings|held||for charitable purposes||9|700,531|||724,423|
|Investments||||||||||
|Land and buildings|held||for investment||10|2,700,000|2,700,000|||
|pmposes||||||||||
|Other Investments|||||11|6,318,405|6,488485|||
|||||||9,018,405|||9,188,285|
|Total fixed assets||||||9,718,936|||9,912,708|
|Current
assets||||||||||
|Debtors|||||12|93,678|33,065|||
|CBFChurch ofEngland-short||||term deposit||465,237|463/69|||
|Bank balances||||||182,826|290829|||
|||||||741,741|786,563|||
|Creditors: amounts||falling due||||||||
|within one year|||||13|(9,575)|(5,175)|||
|Net current assets|||||||732,166||781,388|
|Net assets||||||10,451,102|||10,694,096|
|The funds ofthe charity:||||||||||
|Unrestricted
funds:||||||||||
|Designated
fund|||||14|9,718,936|||9,912,708|
|Accumulated
general||fimd|||15||732,166||781,388|
|Total charity funds||||||10,451,102|||10,694,096|
|The financial
statements|||on pages 12to24were||approved|by the Governors|and authorised|for||
|Bsue on 14July 2021 and are||||signed on their behalf by:||||||
|Rev.DPoultney ...............|||||||.(Chair)|||
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|3|Investment
income||||2020|2019|
|---|---|---|---|---|---|---|
||Rental Income: Farms|and land|||10,130|10,130|
||Commercial
property||||134,737|150,657|
||||||144,867|160,787|
||Rights, wayleaves
snd|sundry|income||711|757|
||Dividends
and interest|receivable||I'rom investment|||
||portfolio||||154,829|222,538|
||Interest on short term deposits||||2,727|7,129|
||||||303,134|391,211|
|4|Expenditure
on raising funds||||2020|2019|
||Investment
management|costs:|||||
||Investment
property expenses||||||
||Legal fees - general|property|||5,287|6,148|
||Legal fees - development||project||12,420||
||Insurauce||||687|680|
||||||18,394|6,828|
||Property management|fees|||10,040|10,201|
||||||28,434|17,029|
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|5|Expenditure
on charitable|Expenditure
on charitable|Expenditure
on charitable|activites|activites|Activites|Grant|||
|---|---|---|---|---|---|---|---|---|---|
|||||||undertaken|fuadiag|Total Total||
|||||||directly|ofactivities|2020|2019|
||Schools|||||||||
||General school|expenditure||||7,003||7,003|26,583|
||Depreciation|||||23,892||23,892|23,892|
|||||||30,895||30,895|50,475|
||Grants:|||||||||
||StMichael's C|ofEAcademy|||||72,773|72,773|26,715|
||All Saints Bedworth Cof|||BAcademy|||17,850|17,850|61,605|
||and Nursery|||||||||
||The Canons C|ofE(Voluntary|||Aided) Primary||47,325|47,325|31,563|
||School|||||||||
||||||||137,948|137,948|119,883|
||Other educational|grants:||||||||
||Henry Bellairs|Bursaries|||||112,040|112,040|109,925|
||Other general grants:|||||||||
||Nicholas Chamberlaine's|||Hospital and||||||
||Sermon Charity|||||||||
||Other organisations||||||27,590|27,590|31,953|
||||||||27,590|27,590|31,953|
|||||||30,895|277,578|308,473|312,236|
||Support and governance||costs -||see note|6||42,195|42,079|
||Total expenditure|on charitable|||activities|||350,668|354,315|
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|6|Support
and governance|costs|2020|2019|
|---|---|---|---|---|
||Accountancy
fees||1000|525|
||Bank charges and interest|paid|167|172|
||Sundry expenses||1.323|1,349|
||Audit fees||4,500|4,750|
||Clerk's fees||31,293|28,750|
||Trustees Insurance||1,058|1,058|
||Founders Day costs|||2,720|
||Professional
fees||2,854|2,755|
||||42,195|42,079|
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|9|Tangible ftxed assets - Land|and buildings|held for charitable|purposes||
|---|---|---|---|---|---|
||Cost||||f|
||At 31December 2019and 31|December 2020|||1,194,618|
||Accumulated
depreciation|||||
||At 31December 2019||||470,195|
||Charge for the year||||23,892|
||At 31December 2020||||494,087|
||Net book value 31December|2020|||700,531|
||Net book value 31December|2019|||724,423|
||Properties at cost at 31December 2020were:|||||
||The Canons CofE(Voluntary|Aided) Primary School|||495,298|
||StMichael's CofEAcademy||||509,322|
||All Saints Bedworth CofEAcademy and Nursery||||189,998|
||||||1,194,618|
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||||As at|As at|Income|Income|
|---|---|---|---|---|---|---|
||||31.12.2020|31.12.2019|2020|2019|
|||||8|||
|Valuation|||||||
|Moat Farm|||600,000|600,000|6,500|6,500|
|Land at Bedworth Woodlands|||450,000|450,000|3,630|3,630|
|Units 34to|38BSydenham||1,000,000|1,000,000|87,229|109,877|
|Industrial|Estate||||||
|Chamberlaine||Court|650,000|650,000|41,680|40780|
||||2,700,000|2,700,000|139,039|160,787|
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|Other investments||2020|2019|
|---|---|---|---|
|Market Value at start ofyear||6,488,285|5,667,359|
|Disposals at carrying value||(388,282)|(1,585,257)|
|Acquisitions
at cost||349,126|1,619,051|
|Unrealised
gains(losses)||(54,231)|523,765|
|Net movement offunds awaiting|investment|(76,493)|263,367|
|Market Value at end ofyear||6,318,405|6,488,285|
|Cost at 31December||4,720,088|4,796,581|
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|11|Other investments
continued|Other investments
continued||2020|2019|
|---|---|---|---|---|---|
||Summary ofinvestments|held in the UK|||0|
||Listed investments|||5,256,915|5,441,393|
||COIF Charites Investment|Fund||803,105|712,015|
||Funds awaiting
investment:|Brokers|capital accounts|258,384|334,877|
||Market Value at 31December 2020|||6,318,404|6,488,285|
||The following
investments|represent|more than 5%ofthe total holding:|||
|||||2020|2019|
||COIF Charities Investment|Fund||803 105|712,015|
|12|Debtors|||2020|2019|
||Due within one year:|||||
||Rents receivable|||4,974|15,648|
||Rent held by agents|||77,332||
||Brokers income accounts|||10,827|15,906|
||Prepayments|||545|1,511|
|||||93,678|33,065|
|13|Creditors|||2020|2019|
||Audit and accountancy|||4,750|4750|
||Invoice accruals|||4,825|425|
|||||9,575|5,175|
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|||||Transfer||
|---|---|---|---|---|---|
||||31.12.2019|designations|31.12.2020|
||||||g|
|Capital|reserve|fund|9,912,708|(193,772)|9,718,936|
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|Fund at 31December 2019|781,388|
|---|---|
|Net decrease in funds|(242,994)|
|Transfer (rom designated
funds|193,772|
|Fund at 31December 2020|732,166|
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|The carrying amounts ofthe|charity's fi|nancial
instruments
are as follo|ws:||
|---|---|---|---|---|
||||2020|2019|
||||E|8|
|Financial assets|||||
|Measured
at fair value|||||
|-Land and buildings
held as|investment|properties (note 10)|2,700,000|2,700,000|
|-Other investments
(note 11)|||6,318,405|6,488,285|
|Debt instruments
measured|at amortised|cost:|||
|Rents receivable (note 12)|||4,974|15,648|
|Estate agent account|||77,332||
|Brokers income accounts (note 12)|||10,827|15,906|
|CBFChurch ofEngland-short|term deposit||465,237|463,269|
|Bank balances|||182,826|290,229|