CHARITY REGISTRATION NUMBER: 800610
The Christabella Charitable Trust Unaudited Financial Statements 31 December 2021
HAFFNER HOFF LTD
Accountants 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
The Christabella Charitable Trust
Financial Statements
Year ended 31 December 2021
| Pages | |
|---|---|
| Trustees' annual report (incorporating the directors' report) | 1 to 5 |
| Independent examiner's report to the trustees | 6 |
| Statement of financial activities | 7 |
| Statement of financial position | 8 |
| Notes to the financial statements | 9 to 17 |
The Christabella Charitable Trust
Trustees' Annual Report (Incorporating the Directors' Report)
Year ended 31 December 2021
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2021.
Reference and administrative details
Registered charity name The Christabella Charitable Trust Charity registration number 800610 Principal office 3 Burses Way Hutton Brentwood Essex CM13 2PL The trustees I Elliott C Turner R Hilburn RF Folwell M Wentworth (Appointed 12 November 2021) M Humphreys (Appointed 12 November 2021) Accountants Haffner Hoff Ltd Accountants
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The Christabella Charitable Trust
Trustees' Annual Report (Incorporating the Directors' Report) (continued)
Year ended 31 December 2021
Structure, governance and management
The Christabella Charitable Trust is constituted by Deed of Trust dated 14 October 1988 and is a registered charity, number 800610.
The Charity is run by the trustees who all act in an honorary capacity. A new trustee would receive copies of the previous years' Annual Report and Accounts and a copy of the Charity Commission leaflet 'The Essential Trustee : What you need to know'.
There is no Chief Executive Officer of the charity.
Two new trustees were appointed during the year. Each brings their own range of useful knowledge and experience, and both have worked for some years as volunteers at Barnards Farm on either the garden facilities or miniature railway.
Risk Management
The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived risks.
The major risks to the charity are fluctuations in the value of its investments. This is mitigated by the share portfolio being spread across a broad range of industry sectors. The charity has further diversified its investments through the purchase of its subsidiary undertaking. The subsidiary holds retail property as its main asset.
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Trustees' Annual Report (Incorporating the Directors' Report) (continued)
The Christabella Charitable Trust
Year ended 31 December 2021
Objectives and activities
The trust deed allows the trustees to exercise discretion in determining the charitable causes to be supported. For a number of years, the trustees have determined that the primary objective of the charity is to maintain the charity's property at Barnards Farm in West Horndon as the home of the National Malus Collection, to allow the general public access on various published dates each year and for use by other charitable organisations. In addition, the trustees support various good causes, many of which are local to the area of West Horndon, on a discretionary basis as allowed by its income after deducting the costs of maintaining Barnards Farm.
The trustees meet regularly to agree the strategy for activities, investments and risk management as well as to make decisions concerning donations and grants. The day to day administration of the trust is carried out by a trustee, on a voluntary basis.
The Charity makes considerable use of volunteers to maintain the grounds and miniature railway.
Public Benefit Policy
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Grant Making Policy
Grants are made to charitable institutions and organisations which accord with the objects of the charity.
Investment Policy
The trustees continue to invest in a mixture of equities, charity based common investment funds and both listed and unlisted fixed interest securities. The unlisted fixed interest securities comprise mostly of secured loans and which, together with the listed fixed interest securities, provide the trustees with quantifiable income for each year. The trustees consider the mix of investments to be appropriate to the charity's requirements and also prudent, so as not to place the capital base of the charity at any significant exposure, especially given the current uncertainties in the equities' markets. The trustees obtain professional advice from their independent investment managers in order to assist with achieving these policies.
Investment performance
The investments of the charity have performed well (net return 5.9%) in the year as compared to returns on cash deposits.
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Trustees' Annual Report (Incorporating the Directors' Report) (continued)
The Christabella Charitable Trust
Year ended 31 December 2021
Achievements and performance
With the use of volunteers extensive works continued to be carried out within government guidelines to maintain and improve the Trust's property at Barnards Farm in West Horndon, Essex. As restrictions were gradually reduced the Trust was able to resume its fundraising activities welcoming the public back into the property and by the end of the year income was exceeding pre-pandemic levels.
During the year the charity continued to support St Francis Church in West Horndon by providing free of charge a building linked to the church for use by the church together with its maintenance costs and other general donations.
The Trust also continued its support of various charities and good causes making grants and donations ranging from £240 to £27,600 to a total of 15 institutions and with one individual associated with charities supported by the Trust. These are summarised in Note 10 to the Financial Statements.
For the last four years the Trust has supported efforts to relieve the suffering of refugees and homeless people in the North of France through the offices of Mr. Charlie Whitbread, who is based in Northern France, by regular monthly donations. During the year a local charity, Mobile Refugee Support, was founded and was one of the 15 institutions supported.
The Trustees continue to consider many applications and appeals from both institutions and individuals and their policy continues to be to favour projects and causes local to its Brentwood, Essex base, especially those with Christian associations, and those not involving ongoing future financial commitments on the Trust. Details of grants made during the year are provided in the in the notes and financial statements.
During the year the charity made grants totalling £79,054 in furtherance of its objectives.
In reviewing the Trust's financial position in 2019 the trustees noted that there had been a significant increase in the value of the Trust's investments in recent years and decided to spread risk and improve cashflow by reducing its exposure to the stock market and invested in a commercial property by purchasing the whole share capital of Acer Regional Properties Limited. Two trustees, I Elliott and R Folwell were appointed as directors of the company. That company performed well during 2021 despite the effects of the Covid19 pandemic, and made regular payments of interest and loan repayments.
Financial review
As at 31 December 2021 the charity held free reserves of £910,660 (2020:£1,140,268) which represent the net current assets of the charity.
Reserves Policy
The Unrestricted Fund represents the unrestricted funds arising from past operating results.
All the funds of the charity are unrestricted and therefore available for application in accordance with the charity's general objects. The trustees have a policy not to commit the charity to any significant long term commitments in respect of grants or other charitable expenditure. In addition, the trustees need to retain sufficient reserves, which are represented by tangible fixed assets and investments, in order to generate incoming resources which will enable the charity to carry out its activities and to meet continuing obligations. Accordingly the reserves policy is designed to retain adequate cumulative funds so that investments are not reduced to a level so as to compromise the charitable activities. The trustees consider the reserves held at the end of the year to be sufficient to produce the necessary income to maintain its current level of expenditure. Grants approved by the trustees prior to the year end are accrued as commitments.
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The Christabella Charitable Trust
Trustees' Annual Report (Incorporating the Directors' Report) (continued)
Year ended 31 December 2021
Plans for future periods
In accordance with the Trust's stated objectives and activities, its aims are to continue maintaining the property at Barnards Farm, West Horndon as the home of the National Malus Collection and to support good causes at the discretion of the Trustees.
The level of unrestricted funds held at the balance sheet date have put the Trust in a satisfactory position to meet these aims.
Trustees' responsibilities statement
The trustees 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).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees' annual report (incorporating the directors' report) was approved on 30 May 2022 and signed on behalf of the board of trustees by:
RF Folwell Trustee
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The Christabella Charitable Trust
Independent Examiner's Report to the Trustees of The Christabella Charitable Trust
Year ended 31 December 2021
I report to the trustees on my examination of the financial statements of The Christabella Charitable Trust ('the charity') for the year ended 31 December 2021.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
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:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
M S Black FCCA CTA Independent Examiner
30 May 2022
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The Christabella Charitable Trust
Statement of Financial Activities
Year ended 31 December 2021
| 2021 | 2021 | 2020 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 78,500 | 78,500 | 500 |
| Charitable activities | 5 | 45,971 | 45,971 | – |
| Investment income | 6 | 119,492 | 119,492 | 130,541 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total income | 243,963 | 243,963 | 131,041 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Expenditure | ||||
| Expenditure on charitable activities | 7,8 | (377,876) | (377,876) | (296,085) |
| Other expenditure | 11 | (7,610) | (7,610) | – |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total expenditure | (385,486) | (385,486) | (296,085) | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Net gains on investments | 12 | 502,720 | 502,720 | 158,551 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Net income/(expenditure) and net movement in funds | 361,197 | 361,197 | (6,493) | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 7,548,683 | 7,548,683 | 7,555,176 | |
| ৄৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | ||
| Total funds carried forward | 7,909,880 | 7,909,880 | 7,548,683 | |
| ৶৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 9 to 17 form part of these financial statements.
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The Christabella Charitable Trust
Statement of Financial Position
31 December 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 18 | 2,034,652 | 1,692,024 | |
| Investments | 19 | 4,964,568 | 4,716,391 | |
| ৄৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | |||
| 6,999,220 | 6,408,415 | |||
| Current assets | ||||
| Debtors | 21 | 813,959 | 940,160 | |
| Cash at bank and in hand | 119,002 | 213,567 | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | |||
| 932,961 | 1,153,727 | |||
| Creditors: amounts falling due within one year | 22 | 22,301 | 13,459 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | |||
| Net current assets | 910,660 | 1,140,268 | ||
| ৄৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | |||
| Total assets less current liabilities | 7,909,880 | 7,548,683 | ||
| ৄৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | |||
| Net assets | 7,909,880 | 7,548,683 | ||
| ৶৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | |||
| Funds of the charity | ||||
| Unrestricted funds | 7,909,880 | 7,548,683 | ||
| ৄৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | |||
| Total charity funds | 24 | 7,909,880 | 7,548,683 | |
| ৶৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ |
These financial statements were approved by the board of trustees and authorised for issue on 30 May 2022, and are signed on behalf of the board by:
RF Folwell Trustee
The notes on pages 9 to 17 form part of these financial statements.
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The Christabella Charitable Trust
Notes to the Financial Statements
Year ended 31 December 2021
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 3 Burses Way, Hutton, Brentwood, Essex, CM13 2PL.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported at the year end.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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The Christabella Charitable Trust
Notes to the Financial Statements (continued)
Year ended 31 December 2021
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure.
Charitable activities are made up of grants to institutions.
Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.
Expenditure on charitable activities includes expenditure on the maintenance and upkeep of land and buildings made available for charitable purposes.
Governance costs are included on an accruals basis and are recognised when there is a legal or constructive obligation to pay for expenditure.
Tangible 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 recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
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The Christabella Charitable Trust
Notes to the Financial Statements (continued)
Year ended 31 December 2021
3. Accounting policies (continued)
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Freehold Property (buildings | - | 2% straight line |
|---|---|---|
| only) | ||
| Plant & Equipment | - | 25% straight line |
| Histrorical Vehicles/Art | - | not depreciated |
| Collection | ||
| Solar Panels | - | 4% straight line |
| Miniature Railway | - | 5% straight line |
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
Investment property
Investment properties are included in the accounts at their market value. Any gains or losses are taken to the Statement of Financial Activities.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations - general | 78,500 | 78,500 | 500 | 500 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ |
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The Christabella Charitable Trust
Notes to the Financial Statements (continued)
Year ended 31 December 2021
5. Charitable activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Barnards Farm income | 45,971 | 45,971 | – | – | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ | ||
| 6. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Rent receivable | 11,705 | 11,705 | 15,019 | 15,019 | |
| Net dividends received | 20,457 | 20,457 | 25,596 | 25,596 | |
| Interest income | 87,330 | 87,330 | 89,926 | 89,926 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| 119,492 | 119,492 | 130,541 | 130,541 | ||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
| 7. | Expenditure on charitable activities by fund type | Expenditure on charitable activities by fund type | |||
|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Barnards Farm | 268,267 | 268,267 | 203,400 | 203,400 | |
| Grants payable | 79,054 | 79,054 | 65,516 | 65,516 | |
| Support costs | 30,555 | 30,555 | 27,169 | 27,169 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| 377,876 | 377,876 | 296,085 | 296,085 | ||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
8. Expenditure on charitable activities by activity type
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Grant funding | Total funds | Total fund | ||
| directly | of activities | Support costs | 2021 | 2020 | |
| £ | £ | £ | £ | £ | |
| Barnards Farm | 268,267 | – | 25,154 | 293,421 | 225,250 |
| Grants payable | – | 79,054 | – | 79,054 | 65,516 |
| Governance costs | – | – | 5,401 | 5,401 | 5,319 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| 268,267 | 79,054 | 30,555 | 377,876 | 296,085 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
9. Analysis of support costs
| Analysis of | |||
|---|---|---|---|
| support costs | Total 2021 | Total 2020 | |
| £ | £ | £ | |
| Communications and IT | 314 | 314 | 289 |
| General office | 73 | 73 | 51 |
| Governance costs | 4,493 | 4,493 | 5,320 |
| Depreciation | 25,675 | 25,675 | 21,509 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 30,555 ৶৶৶৶৶৶৶৶ |
30,555 ৶৶৶৶৶৶৶৶ |
27,169 ৶৶৶৶৶৶৶৶ |
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Notes to the Financial Statements (continued)
The Christabella Charitable Trust
Year ended 31 December 2021
10. Analysis of grants
Grants to institutions Grants to institutions Grants to individuals Grants to individuals Total grants Grants to Institutions Grants over £1,000
| 2021 | 2020 |
|---|---|
| £ | £ |
| 51,454 | 33,916 |
| 27,600 | 31,600 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ |
| 79,054 ৶৶৶৶৶৶৶৶ |
65,516 ৶৶৶৶৶৶৶৶ |
| Grants over £1,000 | |
|---|---|
| 2021 | |
| £ | |
| Bible Reading Fellowship | 2,086 |
| Handicapped Childrens Action Group | 1,229 |
| Just Different | 4,557 |
| Latin American Foundation for the | |
| Future | 400 |
| LDF Charitable Trust | 10,000 |
| Mobile Refugee Support | 6,600 |
| Sightsavers | 1,000 |
| St Anne Line Catholic Junior School | 2,195 |
| St Francis Parish Church | 3,592 |
| Stubbers Adventure Centre | 2,094 |
| The Basildon Community Resource | |
| Centre | 5,500 |
| The Children's Society | 9,175 |
| Further Grants | 1,512 |
| ৄৄৄৄৄৄৄৄ | |
| Total Grants to Institutions | 51,454 |
| ৄৄৄৄৄৄৄৄ | |
| Grants to Individuals | 27,600 |
| ৄৄৄৄৄৄৄৄ | |
| Total Grants Payable | 79,054 |
| ৶৶৶৶৶৶৶৶ |
The grants to institutions went towards the following purposes; the relief of poverty, relief of those in need by reason of ill health or disability, the advancement of religion and the advancement of education.
11. Other expenditure
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Loss on disposal of tangible fixed | ||||
| assets held for charity's own use | 7,610 | 7,610 | – | – |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ |
- 13 -
The Christabella Charitable Trust
Notes to the Financial Statements (continued)
Year ended 31 December 2021
12. Net gains on investments
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Gains/(losses) on listed investments | 502,720 | 502,720 | 158,551 | 158,551 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| 13. | Net income/(expenditure) | ||||
| Net income/(expenditure) is stated after charging/(crediting): | |||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Depreciation of tangible fixed assets | 24,724 | 21,838 | |||
| Loss on disposal of tangible fixed assets | 7,610 | – | |||
| Loss on disposal of heritage assets | – | 833 | |||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||||
| 14. | Auditors remuneration | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Fees payable for the audit of the financial statements | – | 3,000 | |||
| ৶৶৶৶ | ৶৶৶৶৶৶৶ | ||||
| Fees payable to the charity's auditor and | its associates | for other services: | |||
| Other non-audit services | – | 1,320 | |||
| ৶৶৶৶ | ৶৶৶৶৶৶৶ | ||||
| 15. | Independent examination fees | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Fees payable to the independent examiner for: | |||||
| Independent examination of the financial | statements | 2,200 ৶৶৶৶৶৶৶ |
– ৶৶৶৶ |
16. Staff costs
The average head count of employees during the year was 5 (2020: 3).
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
17. Trustee remuneration and expenses
-
no remuneration or other benefits from employment with the charity or a related entity were received by the trustees
-
no trustee expenses have been incurred
- 14 -
The Christabella Charitable Trust
Notes to the Financial Statements (continued)
Year ended 31 December 2021
18. Tangible fixed assets
| Works of | ||||||
|---|---|---|---|---|---|---|
| Arts & | ||||||
| Land and | Fixtures and | Vehicle | Miniature | |||
| buildings | fittings | Collection Solar | Panels | Railway | Total | |
| £ | £ | £ | £ | £ | £ | |
| Cost | ||||||
| At 1 Jan 2021 | 354,175 | 271,265 | 1,233,742 | 30,000 | 270,382 | 2,159,564 |
| Additions | – | 7,868 | 384,485 | – | – | 392,353 |
| Disposals | – | – | (25,000) | – | – | (25,000) |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | |
| At 31 Dec 2021 | 354,175 | 279,133 | 1,593,227 | 30,000 | 270,382 | 2,526,917 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | |
| Depreciation | ||||||
| At 1 Jan 2021 | 99,228 | 258,803 | 22,234 | 11,900 | 75,376 | 467,541 |
| Charge for the | ||||||
| year | 4,384 | 6,766 | – | 1,200 | 12,374 | 24,724 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | |
| At 31 Dec 2021 | 103,612 | 265,569 | 22,234 | 13,100 | 87,750 | 492,265 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | |
| Carrying amount | ||||||
| At 31 Dec 2021 | 250,563 | 13,564 | 1,570,993 | 16,900 | 182,632 | 2,034,652 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | |
| At 31 Dec 2020 | 254,947 | 12,462 | 1,211,508 | 18,100 | 195,006 | 1,692,023 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ |
19. Investments
| Shares in | ||||
|---|---|---|---|---|
| Investment | group | Other | ||
| properties | undertakings | investments | Total | |
| £ | £ | £ | £ | |
| Cost or valuation | ||||
| At 1 January 2021 | 448,500 | 552,104 | 3,715,787 | 4,716,391 |
| Additions | – | – | – | – |
| Disposals | (25,000) | – | (250,000) | (275,000) |
| Fair value movements | – | – | 502,720 | 502,720 |
| Transfers | – | – | 20,457 | 20,457 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | |
| At 31 December 2021 | 423,500 | 552,104 | 3,988,964 | 4,964,568 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | |
| Impairment | ||||
| At 1 January 2021 and | ||||
| 31 December 2021 | – | – | – | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | ||
| Carrying amount | ||||
| At 31 December 2021 | 423,500 | 552,104 | 3,988,964 | 4,964,568 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | |
| At 31 December 2020 | 448,500 | 552,104 | 3,715,787 | 4,716,391 |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ |
All investments shown above are held at valuation.
Investment properties
The investment properties are stated at market value at the year end.
- 15 -
The Christabella Charitable Trust
Notes to the Financial Statements (continued)
Year ended 31 December 2021
19. Investments (continued)
The listed investments are stated at market value based on published stock market value at the year end.
20. Investment entities
Subsidiaries and other investments
| Class of | Percentage of | ||||
|---|---|---|---|---|---|
| Registered office | share | shares held | |||
| Subsidiary undertakings | |||||
| Acer Regional Properties Limited | Warth Business Centre | Ordinary | 100 | ||
| Warth Industrial Park | |||||
| Warth Road | |||||
| Bury | |||||
| BL9 9TB | |||||
| The results for subsidiaries and other undertakings are as | follows: | ||||
| Capital and reserves | Profit/(loss) | for the year | |||
| 2021 | 2020 | 2021 | 2020 | ||
| £ | £ | £ | £ | ||
| Subsidiary undertakings | |||||
| Acer Regional Properties Limited | 352,344 | 252,532 | 99,812 | 87,883 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| 21. | Debtors | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Amounts owed by group undertakings | 810,906 | 936,184 | |||
| Prepayments and accrued income | 3,053 | 3,976 | |||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||||
| 813,959 | 940,160 | ||||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||||
| 22. | Creditors: amounts falling due within one year | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Accruals and deferred income | 21,883 | 13,041 | |||
| Other creditors | 418 | 418 | |||
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||||
| 22,301 ৶৶৶৶৶৶৶৶ |
13,459 ৶৶৶৶৶৶৶৶ |
23. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £2,624 (2020: £2,343).
- 16 -
The Christabella Charitable Trust
Notes to the Financial Statements (continued)
Year ended 31 December 2021
24. Analysis of charitable funds
Unrestricted funds
| At | |||||||
|---|---|---|---|---|---|---|---|
| At | Gains and | 31 December | |||||
| 1 | January | 21 | Income | Expenditure | losses | 2021 | |
| £ | £ | £ | £ | £ | |||
| General funds | 7,548,683 | 243,963 | (385,486) | 502,720 | 7,909,880 | ||
| ৶৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | |||
| At | |||||||
| At | Gains and | 31 December | |||||
| 1 | January | 20 | Income | Expenditure | losses | 2020 | |
| £ | £ | £ | £ | £ | |||
| General funds | 7,555,176 | 131,041 | (296,085) | 158,551 | 7,548,683 | ||
| ৶৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ |
25. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2021 | |
| £ | £ | |
| Tangible fixed assets | 2,034,652 | 2,034,652 |
| Investments | 4,964,568 | 4,964,568 |
| Current assets | 932,961 | 932,961 |
| Creditors less than 1 year | (22,301) | (22,301) |
| ৄৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | |
| Net assets | 7,909,880 | 7,909,880 |
| ৶৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ | |
| Unrestricted | Total Funds | |
| Funds | 2020 | |
| £ | £ | |
| Tangible fixed assets | 1,692,024 | 1,692,024 |
| Investments | 4,716,391 | 4,716,391 |
| Current assets | 1,153,727 | 1,153,727 |
| Creditors less than 1 year | (13,459) | (13,459) |
| ৄৄৄৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄৄৄৄ | |
| Net assets | 7,548,683 | 7,548,683 |
| ৶৶৶৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶৶৶৶ |
26. Related parties
Aggregate donations totalling £62,800 were received during the year from trustees and related parties.
Other unlisted investments constitutes a loan to Sheffield & Regional Properties Limited. BCNR Holmes, who is vested with the power to appoint new trustees is a director of Sheffield & Regional Properties Limited. I Elliot, a trustee, is also a director of Sheffield & Regional Properties Limited.
This loan is repayable on demand and attracts interest at a rate of 6% per annum. During the year interest of £60,000 (2020: £60,000)was payable on this loan and this was received in full during the year by the charity.
A total of £810,906 (2020: £936,184) is due from the subsidiary undertaking, this loan is repayable on demand and attracts interest at 3% over base. During the year interest of £27,330 was payable on this loan.
- 17 -