**Company Number: 02232358 Charity Number: 700042**
**Crosby Hall Educational Trust** (A Company Limited by Guarantee) **Annual Report & Financial Statements For the year ended 31 March 2021**
**Greater Merseyside Community Accountancy Service Sefton Council for Voluntary Service 3rd Floor, Suite 3b Burlington House Crosby Road North Waterloo Liverpool L22 0LG**
**Crosby Hall Educational Trust Contents**
|Pages||
|---|---|
|3-7|Trustee's Annual Report|
|5-8|Independent Examiner's Report|
|9|Statement of Financial Activities|
|10|Balance Sheet|
|11-27|Notes to the Financial Statements|
page 2
**Crosby Hall Educational Trust Trustee's Annual Report For the year ended 31 March 2021**
The Trustees, who are also Directors for the purposes of the Companies Act, present their annual report and financial statements of the charity for the year ended 31 March 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 102 applicable in the UK and Republic of Ireland.
## **Objectives and Activities**
The objects of the charitable company are the advancement of the education of the public (including in particular those suffering from need, hardship and distress); the promotion of knowledge, understanding and appreciation of the arts; the advancement of religion for the benefit of the public and such other exclusively charitable purposes as the company deems appropriate.
The aims of the charitable company are to promote the cultural, educational and spiritual development of children, young people and adults, by providing residential courses and facilities in the quiet of the countryside.
The main focus of our activities remains the education and personal development of the visiting children. It is increasingly recognised that out-of-classoom learning has a valuable role to play in supplementing more traditional school based curricula. Time spent at CHET also benefits children by developing their self-confidence and social skills.
In setting our objectives and planning our activities the trustees have given careful consideration to the Charity Commission's guidance on public benefit.
## **Achievements and Performance**
During the year the charity was unable to offer a residential educational experience due to the pandemic. A great deal of effort led to schools taking up day visits as soon as was allowed. The feedback has been extremely positive and bookings for the current year leave very few days still available. Our wonderful staff are committed to giving every child a great time and a chance to try out new activities, whether it be rafting, archery, orienteering, shelter building, photography, or using our challenging adventure course. The children not only benefit individually through their personal development, but also take home with them new social skills and a life enhancing experience to share with others, which stays with them for decades.
The project to replace the old barn with a splendid new building will greatly enhance opportunities to provide indoor activities. We now have a place that is safe, dry, warm, bright and well furnished.
Restrictions to school visits meant that the Bursary Fund was only used to support a small handful of families for day visit purposes. The Bursary Fund is provided by covenants from our CHET friends.
We were unable to undertake any fundraising.
page 3
**Crosby Hall Educational Trust Trustee's Annual Report For the year ended 31 March 2021**
## **Financial Review**
The charity's financial position remains strong, despite the impact of the pandemic on trading activity. The General Fund has reduced from £208,225 to £82,311. Much reduced income and expenditure was partly balanced by government funding and furlough payments, leaving a trading deficit of £44,310 and property depreciation of £12,091. This included a number of premises improvements that became possible during lockdown. Replacement of the old barn cost £90,763. Gift Aid of £4,981 and investment income £4,707 was received.
The Bursary Fund increased from £54,056 to £80,363.
The Endowment Fund increased from £262,508 to £288,800.
The charity has a policy of holding a reserve of six months turnover in cash. This reserve is held for reasons of financial prudence.
The Trustees are confident that the charity is a going concern. No fund or subsidiary is in deficit.
## **Reference and administrative details**
**Charity number:** 700042 **Company number:** 02232358 **Registered Office:** Crosby Hall, Little Crosby, Liverpool. L23 4UA
## **Our advisors**
Independent Examiner: Anthony Deegan MAAT Pm. Dip Bankers: Barclays Bank Plc, 18-22 Liverpool Road, Great Crosby, Liverpool. L23 5SF Solicitors: Weightmans, India Buildings, Liverpool
## **Directors and trustees**
The directors of the charitable company (the charity) are its trustees for the purposes of charity law. The trustees and officers serving during the year and since the year-end were as follows:
## **Trustees**
Mr M F W Blundell Chair of Trustees Mr F W Cowell Mrs C Baxter Mrs J H Daly Dr F A Prichard Mr A J Walker **Company Secretary** Mr F W Cowell
page 4
**Crosby Hall Educational Trust Trustee's Annual Report For the year ended 31 March 2021**
## **Structure, Governance and Management**
## **Governing Document**
Crosby Hall Educational Trust is a company limited by guarantee governed by its Memorandum and Articles of Association dated 8th March 1988. It is registered with the Charity Commission. There are currently - members (5 in 2020), each of whom agrees to contribute £1 in the event of the charity winding up.
## **Appointment of trustees**
As set out in the Articles of Association the trustees are elected by members of the charitable company attending the Annual General Meeting.
## **Trustee induction and training**
New trustees undergo an orientation day to brief them on: their legal obligations under charity and company law, the Charity commission guidance on public benefit, and inform them of the content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan and recent financial performance of the charity. During the induction process they meet key employees and other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
## **Organisation**
The board of trustees, which currently has 6 members, administers the charity. The board normally meets quarterly. A Principal is appointed by the trustees to manage the day to day operations of the charity. To facilitate effective operations the Principal has delegated authority, within the terms of delegation approved by the trustees, for operational matters including finance, employment, and service delivery activity.
## **Related parties and co-operation with other organisations**
None of our trustees receive remuneration or other benefit from their work with the charity. Any connection between a trustee or senior manager of the charity and any client or supplier is disclosed to the full board of trustees in the same way as any other contractural relationship with a related party.
## **Pay policy for senior staff**
The board of trustees and the senior management team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis. All trustees give of their time freely and no trustee received remuneration in the year. Details of trustees expenses and related party transactions are disclosed in note 16 to the accounts.
The pay of the senior staff is reviewed annually by trustees excluding the chair. In view of the nature of the charity, the Trustees benchmark against pay levels in other organisations of a similar size run on a voluntary basis.
page 5
**Crosby Hall Educational Trust Trustee's Annual Report For the year ended 31 March 2021**
## **Risk Management**
The trustees have a risk managment strategy which comprises:
* an annual review of the principal risks and uncertainties that the charity faces;
* the establishment of policies, systems and procedures to mitigate those risks identified in the annual review; and
* the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise.
The Trustees believe that the financial risk to the charity is minimal at the present time. However, attention also been focused on non-financial risks arising from fire, health and safety of clients, food hygiene. These risks are managed by ensuring accreditation is up to date, having robust policies and procedures in place, and regular awareness training for staff working in these operational areas.
page 6
**Crosby Hall Educational Trust Trustee's Annual Report For the year ended 31 March 2021**
## **Trustees' Responsibilities**
The trustees, who are also the directors of Crosby Hall Educational Trust for the purpose of company law, are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application or resources, including the income and expenditure, of the charitable company for that year. in preparing the financial statements, the trustees are required to:
1) select suitable accounting policies and then apply them consistently;
2) observe the methods and principles on the Charities SORP;
3) make judgements and estimates that are reasonable and prudent;
4) state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
5) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will contionue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
This report was approved by the board of trustees on 14th July 2020 and signed on their behalf.
Mr F W Cowell Company Secretary
Mr M F W Blundell Chair of Trustees
page 7
**Crosby Hall Educational Trust Trustee's Annual Report For the year ended 31 March 2021**
I report to the trustees on my examination of the accounts of the Crosby Hall Educational Trust for the year ended 31 March 2021.
## **Responsibilities and basis of report**
As the charity trustees of Crosby Hall Educational Trust (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ("the 2006 Act").
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ("the 2011 Act"). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Accounting Technicians.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
(1) accounting records were not kept in respect of the Crosby Hall Educational Trust as required by section 386 of the 2006 Act; or
(2) the accounts do not accord with those records; or
(3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
(4) the accounts have not been prepared in accodance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Anthony Deegan MAAT Pm. Dip Community Accountant Sefton Council for Voluntary Service Burlington House
14th July 2020
page 8
## **Crosby Hall Educational Trust Statement of Financial Activities (Incorporating Income & Expenditure Account) For the year ended 31 March 2021**
|**Unrestricted Restricted**
**Endowment**
**Note**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
**Income and endowments from:**
Donations and
legacies
2
127,648
26,307
-
Charitable activities
3
48,533
-
-
Other trading
activities
4
17,837
-
-
Investments
5
4,707
-
-
Total income
198,725
26,307
-
**Expenditure on:**
Raising funds
6
-
-
-
Charitable activities
7
255,127
-
-
Total expenditure
255,127
-
-
Net gains/(losses) on
investments
-
-
26,292
**Net**
**(expenditure)/inco**
**me**
(56,402)
26,307
26,292
**Other recognised gains:**
**Net movement in**
**funds**
(56,402)
26,307
26,292
**Reconciliation of funds:**
Funds b/fwd
1,281,136
54,056
262,508
Funds c/fwd
1,224,735
80,363
288,800|**Total**
**2021**
**£**
153,955
48,533
17,837
4,707
225,032
-
255,127
255,127
26,292
(3,803)
(3,803)
1,597,700
1,593,898|_Total_
_2020_
_£_
42,057
308,496
44,535
5,488
400,576
6,485
397,322
403,807
(3,158)
(6,389)
(6,389)
1,604,090
1,597,700|
|---|---|---|
The Statement of Financial Activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
All income and expenditure derive from continuing activities.
The notes on pages 11 to 27 form part of these financial statements
page 9
**Crosby Hall Educational Trust Balance Sheet As at 31 March 2021**
**Company Number: 02232358**
|**Note**
**Fixed Assets**
Tangible assets
10
Investments
11
**Current Assets**
Stock
12
Debtors
13
Cash at bank and in hand
14
**Creditors: Amounts falling due within one**
**year**
15
**Net Current Assets**
**Total Net Assets**
**Funds of the charity**
Designated Funds
General Fund
Total Unrestricted Funds
17
Restricted Funds
18
Endowment Funds
19
**Total Funds**|**2021**
**£**
**£**
1,142,425
153,523
1,295,948
2,308
48,609
324,254
375,171
77,221
297,950
1,593,898
1,142,425
82,310
1,224,735
80,363
288,800
1,593,898|_2020_
_£_
1,072,913
127,231|
|---|---|---|
|||1,200,144|
|||2,308
53,996
432,916|
||375,171
77,221|489,220
91,663|
|||397,557|
|||1,597,701|
|||1,072,913
208,223|
|||1,281,136
54,056
262,508|
|||1,597,700|
In approving these financial statements as directors of the company we hereby confirm the following: For the year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
1) The members have not required the company to obtain an audit for its accounts for the year in question in accordance with section 476.
2) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
## **The accounts were approved by the board of directors on 14th July 2020.**
Mr M F W Blundell,
,
The notes on pages 11 to 27 form part of these financial statements
page 10
**Crosby Hall Educational Trust Notes to the Accounts For the year ended 31 March 2021**
## **1 Accounting Policies**
## **1a Basis of preparation**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 Janaury 2015) - (Charities SORP (FRS 102)), and the Companies Act 2006 and the UK Generally Accepted Accounting Practice as it applies from 1 January 2015.
Crosby Hall Educational Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
The accounts have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for Charities applying FRS102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The functional currency used by Crosby Hall Educational Trust is the £ Sterling.
## **1b. Preparation of the accounts on a going concern basis**
The trustees consider that the accounts should be prepared on the going concern basis as there are no indicators that the charitable company will not be able to continue in operation.
## **1c. Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
Dividend income is recognised when the right to receive payment is established, usually when the investment is declared ex-dividend.
page 11
**Crosby Hall Educational Trust Notes to the Accounts (cont.) For the year ended 31 March 2021**
## **1 Accounting Policies (cont.)**
## **1d. Deferred income**
Income from donations and grants, including capital grants are deferred when the following conditions are met:
a) when donors specify that donations and grants given to the charity must be used in future accounting periods, the income is deferred until those periods
b) when donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred and not included in incoming resources until the preconditions for use have been met.
## **1e. Donated services and facilities**
Donated professional servies and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that the economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised and refer to the trustees' annual report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
## **1f. Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
Educational & Personal Development of Children
a) Costs of raising funds comprise the costs of commercial trading including the bar and coffee lounge and their associated support costs.
b) Expenditure on charitable activities includes the costs of performances, exhibitions and other educational activites undertaken to further the purposes of the charity and their associated support costs.
c) Other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
page 12
**Crosby Hall Educational Trust Notes to the Accounts (cont.) For the year ended 31 March 2021**
## **1 Accounting Policies (cont.)**
## **1g. Funds Accounting**
All income and expenditure together with gains and losess are allocated to a specific charitable fund.
Unrestricted funds are available to spend on activities that further any of the purposes of the charity.
Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Further details of designated funds together with their purpose are set out in note 17.
Restricted funds are donations which the donor has specified are to be used soley for particular areas of the charity's work or for specific projects being undertaken by the charity. Further details of restricted funds together with their purposes are set out in note 18.
Endowment funds are resources received by the charity which represent capital, which can be held as either a permanent or expendable endownment. Permanent endowments are where the trustees have no power to convert it into income and apply it to the charitable objectives. Expendable endownment is distinguishable from income funds in that there is no requirement to spend or apply the capital unless, or until the trustees decide to do so. Further details of endowment funds together with their purposes are set out in note 19.
page 13
**Crosby Hall Educational Trust Notes to the Accounts (cont.) For the year ended 31 March 2021**
## **1 Accounting Policies (cont.)**
## **1h. Tangible fixed assets and depreciation**
Tangible assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. cost includes the original purchase price, costs directly attributable to bringing the asset into its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised.
Items costing more than £1,000 are capitalised.
Land and buildings include freehold offices and community centres. Land and buildings are stated at cost (or deemed cost for land and buildings held at valuation at the date of transition to FRS 102) less accumulated depreciation and accumulated impairment losses.
Plant and machinery and fixtures, fitting, tools, and equipment are stated at cost less accumulated depreciation and accumulated impairment losses.
Depreciation is provided at the following annual rates in order to write each asset off over its anticipated useful economic life. A full year's depreciation charge is charged in the year of acquisition and no depreciation is charged in the year of disposal.
Long leasehold properties Straight line basis over lifetime of the lease Motor vehicles 25% pa on a reducing balance basis Fixtures and fittings 10% to 25% pa on a reducing balance basis Equipment 25% pa on a reducing balance basis
Subsequent costs are included in the assets carrying amount or recognised as a separate asset, as appropriate, only when it is probable that economic benefits associated with the item will flow to the charitable company and the cost can be measured reliably.
Repairs, maintenance and minor inspection costs are expensed as incurred.
Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the Statement of Financial Activities.
page 14
**Crosby Hall Educational Trust Notes to the Accounts (cont.) For the year ended 31 March 2021**
## **1 Accounting Policies (cont.)**
## **1i. 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 value. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.
The charity does not acquire put options, derivatives or other complex financial instruments.
## **1j. Stock**
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the item on the open market.
## **1k. Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **1l. Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1m. Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
page 15
**Crosby Hall Educational Trust Notes to the Accounts (cont.) For the year ended 31 March 2021**
## **1 Accounting Policies (cont.)**
## **1n. Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
## **1o. Pension costs**
The company operates a defined contribution plan for its eligible employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payment obligations. the contributions are recognised as an expense when they are due. Amounts not paid are shown in creditors or accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.
## **1p. Cash Flow Statement**
The trustees have taken advantage of applying Update Bulletin 1 to the Statement of Recommended Practice (FRS 102) to disapply the need to produce a cash flow statement.
## **2. Donations and Legacies**
|Donations
Gift Aid Recoverable
Coronavirus Job Retention Scheme
Sefton MBC|**2021**
**£**
37,870
4,981
59,961
51,143
153,955|_2020_
£
33,364
8,693
-
-|
|---|---|---|
|||42,057|
page 16
**Crosby Hall Educational Trust Notes to the Accounts (cont.) For the year ended 31 March 2021**
## **3. Charitable Activity Income**
|Educational activities
Centre Hire
Tuckshop
**4.**
**Other trading activity income**|**2021**
**£**
48,533
-
-
48,533|_2020_
_£_
272,703
27,582
8,211|
|---|---|---|
|||308,496|
||||
|Fundraising income
Ofgem
**5.**
**Investment Income**|**2021**
**£**
-
17,837
17,837|_2020_
_£_
32,676
11,859|
|---|---|---|
|||44,535|
||||
|Dividends
Interest Receivable|**2021**
**£**
4,484
223
4,707|_2020_
_£_
4,396
1,092|
|---|---|---|
|||5,488|
page 17
**Crosby Hall Educational Trust Notes to the Accounts (cont.) For the year ended 31 March 2021**
## **6. Expenditure on Raising Funds**
|Fundraising expenses|**2021**
**£**
-
-|_2020_
_£_
6,485|
|---|---|---|
|||6,485|
## **7. Charitable Activities Expenditure**
Educational & Personal Development of Children
## **8. Staff Costs**
|Wages and Salaries
Redundancy
Social Security costs
Pension costs|**2021**
**£**
139,179
10,302
5,826
9,028
164,335|_2020_
_£_
179,263
-
10,266
11,034|
|---|---|---|
|||200,563|
The trustees received no remuneration during the year (2020: £nil). The trustees did not receive any expenses during the year (2020: £nil).
page 18
**Crosby Hall Educational Trust Notes to the Accounts (cont.) For the year ended 31 March 2021**
## **9. Key Management Personnel**
The trustees consider that the key management personnel comprise the trustees and the Senior Management Team as follows:-
## **Trustees**
Mr M F W Blundell Mr F W Cowell Mrs C Baxter Mrs J H Daly Dr F A Prichard Mr A J Walker
## **Senior Management Team**
Principal - Graham Still-Blundell
||**2021**|_2020_|
|---|---|---|
||**£**|_£_|
|Total Salary|57,745|48,150|
page 19
**Crosby Hall Educational Trust Notes to the Accounts (cont.) For the year ended 31 March 2021**
## **10. Tangible Fixed Assets**
|**Cost / Valuation**
At 1 April 2020
Additions
At 31 March 2021
**Depreciation**
At 1 April 2020
For the year
At 31 March 2021
**Net Book Amounts**
**At 31 March 2021**
_At 31 March 2020_
**Fixed Asset Investment**
**Quoted Investments**
Market value as at 1 April 2020
Net unrealised gain in the year
**Market value as at 31 March 2021**|**Long**
**Motor**
**Fixtures &**
**Leasehold**
**Vehicles**
**Equipment**
**£**
**£**
**£**
1,209,118
9,450
355,721
88,874
-
-
1,297,992
9,450
355,721
208,762
5,579
287,035
12,091
1,890
5,381
220,853
7,469
292,416
1,077,139
1,981
63,305
1,000,356
3,871
68,686||**Total**
**£**
1,574,289
88,874|
|---|---|---|---|
||||1,663,163|
||||501,376
19,362|
||||520,738|
||||1,142,425|
||||1,072,913|
||||**£**
127,231
26,292|
||||153,523|
## **11. Fixed Asset Investment**
page 20
**Crosby Hall Educational Trust Notes to the Accounts (cont.) For the year ended 31 March 2021**
## **11. Fixed Asset Investment (cont.)**
|COIF Charities Investment Fund
Historical cost information is not available.
**12. Stock**
Stock comprises
Stock of sale items
**13. Debtors**
Amounts falling due within one year
Trade debtors
Other debtors
Prepayments and accrued income
**14. Cash at bank and in hand**
Cash at bank
Short term deposits
Cash in hand|**No. of**
**Units**
8,564
8,564|**2021**
**Market**
**Value**
153,523|**2021**
**Market**
**Value**
153,523||
|---|---|---|---|---|
|||153,523|||
||||||
||||||
||||||
page 21
**Crosby Hall Educational Trust Notes to the Accounts (cont.) For the year ended 31 March 2021**
## **15. Creditors: Amounts falling due within one year**
|**Creditors: Amounts falling due within one year**|||
|---|---|---|
|Trade creditors
Other taxes and social security
Other creditors
Accruals and deferred income|**2021**
**£**
5,078
13,282
55,851
3,010
77,221|_2020_
_£_
164
24,480
64,759
2,260|
|||91,663|
## **16. Related Party Transactions**
The charity leases its premises from the Crosby Hall Estate, in which the Chairman of Trustees, Mark Blundell, holds an interest. The annual rent payable (if demanded) under the terms of the lease is a single red rose.
The Principal Graham Still-Blundell, is the son-in-law of the Chair of Trustees. Graham Still-Blundell was employed on an arms length basis with the full support of the trustees.
Alexandra Still-Blundell, the daughter of the Chairman of Trustees, Mark Blundell, and wife of the Principal, was appointed in July 2016 as Business Manager on an arm's length basis with the full support of the Trustees.
page 22
**Crosby Hall Educational Trust Notes to the Accounts (cont.) For the year ended 31 March 2021**
## **17. Unrestricted Funds**
|General Fund
_Designated Funds_
Fixed Asset Fund
Total Funds (previous
year)
General Fund
**Designated Funds**
Fixed Asset Fund
Total Funds (current
year)|_Balance_
_brought_
_forward_
_2019_
_£_
119,294
1,162,517
1,281,811
**Balance**
**brought**
**forward**
**2020**
**£**
208,223
1,072,913
1,281,136|_Transfers_
_between_
_Gains &_
_Income_
_Expenditure_
_funds_
_losses_
_£_
_£_
_£_
_£_
392,650
(393,324)
89,604
-
-
-
(89,604)
-
392,650
(393,324)
-
-
**Transfers**
**between**
**Gains &**
**Income Expenditure**
**funds**
**lossess**
**£**
**£**
**£**
**£**
198,725
(255,127)
(69,512)
-
-
-
69,512
-
198,725
(255,127)
-
-|_Balance_
_carried_
_forward_
_2020_
_£_
208,224
1,072,913|
|---|---|---|---|
||||1,281,137|
||||**Balance**
**carried**
**forward**
**2021**
**£**
82,309
1,142,425|
||||1,224,734|
page 23
**Crosby Hall Educational Trust Notes to the Accounts (cont.) For the year ended 31 March 2021**
## **18. Restricted Funds**
|**Restricted Funds**||||
|---|---|---|---|
|Bursary Fund
Total Funds (previous year)
Bursary Fund
Total Funds (current year)|_Balance_
_brought_
_forward_
_2019_
_£_
56,613
56,613
**Balance**
**brought**
**forward**
**2020**
**£**
54,056
54,056|_Income_
_Expenditure_
_£_
_£_
7,926
(10,483)
7,926
(10,483)
**Income Expenditure**
**£**
**£**
26,307
-
26,307
-|_Balance_
_carried_
_forward_
_2020_
_£_
54,056|
||||54,056|
||||**Balance**
**carried**
**forward**
**2021**
**£**
80,363|
||||80,363|
page 24
**Crosby Hall Educational Trust Notes to the Accounts (cont.) For the year ended 31 March 2021**
## **19. Endowment Funds**
|**Endowment Funds**||||
|---|---|---|---|
|_Expendable Endowment_
Expendable Endowment
Total Funds|_Balance_
_brought_
_forward_
_2019_
_Income_
_Expenditure_
_£_
_£_
_£_
_265,666_
_-_
_-_
_265,666_
_-_
_-_
**Balance**
**brought**
**forward**
**2020 Income Expenditure**
**£**
**£**
**£**
262,508
-
-
262,508
-
-|_Gains &_
_losses_
_£_
_(3,158)_
_(3,158)_
**Gains &**
**losses**
**£**
26,292
26,292|_Balance_
_carried_
_forward_
_2020_
_£_
_262,508_|
||||_262,508_|
||||**Balance**
**carried**
**forward**
**2021**
**£**
288,800|
||||288,800|
This fund was created on 31st March 2006 using funds given previously by donors to CHET. It is a type of fund proposed by the Charity Commission's guidance paper CC19. It is partly invested on the stock exchange through the Charities Official Investment Fund (COIF) and partly held on deposit with COIF. The proportions may be varied from time to time by decision of the trustees. The income is applied at the discretion of the trustees for the support of the charitiable company's activities and is therefore treated as unrestricted income.
page 25
**Crosby Hall Educational Trust Notes to the Accounts (cont.) For the year ended 31 March 2021**
## **20. Analysis of Net Assets**
|_Previous year ended 31 March 2020_
_Unrestricted_
_Designated_
_Restricted_
_Endowment_
_Funds_
_Funds_
_Funds_
_Funds_
_£_
_£_
_£_
_£_
Fixed Assets
-
1,072,913
-
-
Investments
-
-
-
127,231
Current Assets
299,888
-
54,056
135,277
Current Liabilities
(91,663)
-
-
-
208,225
1,072,913
54,056
262,508
Current year ended 31 March 2021
**Unrestricted**
**Designated Restricted**
**Endowment**
**Funds**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
**£**
Fixed Assets
-
1,142,425
-
-
Investments
-
-
-
153,523
Current Assets
159,531
-
80,363
135,277
Current Liabilities
(77,221)
-
-
-
82,310
1,142,425
80,363
288,800|_Total_
_Funds_
_£_
1,072,913
127,231
489,221
(91,663)
1,597,702
**Totals**
**Funds**
**£**
1,142,425
153,523
375,171
(77,221)
1,593,898|
|---|---|
page 26
**Crosby Hall Educational Trust Notes to the Accounts (cont.) For the year ended 31 March 2021**
## **21. Comparative Statement of Financial Activities Information**
In order to comply with Financial Reporting Standard 102 which requires comparative information to be provided for all amounts, this note provides the necessary disclosure for comparative purposes of the Statement of Financial Activities for the year ended 31 March 2020.
|**Unrestricted Restricted**
**Endowment**
**Fund**
**Fund**
**Fund**
**£**
**£**
**£**
**Income**
Donations and legacies
34,131
7,926
-
Comparative activities
308,496
-
-
Other Trading Activities
44,535
-
-
Investments
5,488
-
-
**Total income**
**392,650**
**7,926**
**-**
**Expenditure on**
Raising funds
6,485
-
-
Charitable activities
386,839
10,483
-
**393,324**
**10,483**
**-**
Net losses on investments
(3,158)
-
(3,158)
**Net expenditure**
**(674)**
**(2,557)**
**(3,158)**
Other Recognised gains:
**Net movement in funds**
**(674)**
**(2,557)**
**(3,158)**|**Total**
**Funds**
**£**
42,057
308,496
44,535
5,488
**400,576**
6,485
397,322
**403,807**
(3,158)
**(6,389)**
**(6,389)**|
|---|---|
page 27