| Page | |
|---|---|
| ReportoftheTrustees | 24 |
| lndependent examiner'sreporr | 5 |
| Statement offìnancialactivities | 6 |
| Balance sheet | 7 |
| Statement ofcashflows | I |
| Notestothefinancial statements | 9-17 |
| coronavirus restrictionsis managedbyrelyin donationsfromSirChristopher\y'ates. Referenceandadministrative details |
gon theassetswithinthe charity'sinvestment |
|---|---|
| RegisteredCharitynumber | 801479 |
| Registeredaddress | TuftonPlace |
| EwhurstLane | |
| Northiam | |
| Rye | |
| East Sussex | |
| TN3I6HL | |
| Trustees | Wates Charitable Trustees Limited |
| Principal Officers | SirChristopherWates |
| LadyWates |
| lndependentExaminers | GregorySmye-Rumsby |
|---|---|
| Dixon Wilson | |
| 22ChancerTLane | |
| London | |
| wc2AtLs | |
| Bankers | HSBC Private Bank(UK)Limited |
| 78StJames'sStreet | |
| London | |
| swrArJB |
| Expendable | |||||
|---|---|---|---|---|---|
| Unrestricted | Endowment | Total | Total | ||
| Note | funds t |
funds Ê |
2020 e |
20t9r | |
| lncomeandendowmentsfrom: | |||||
| Donations andlegacies | 2 | 49,098 | 49,098 | I,t30 | |
| CharitableActivities: | |||||
| OastHouses | 3 | 80,52t | 80,52t | 342,736 | |
| lnvestmentActivities: | |||||
| lnvestment lncome | 4 | t7,50t | 17,50t | t7,352 | |
| Totalincomeandendowments | t47,120 | t47,120 | 36t,2t8 | ||
| Expenditureon: | |||||
| Raisingfunds | 5 | 6,547 | 6,547 | 7,267 | |
| Charitable activities: | |||||
| OastHouses | 6 | 235,374 | 235,374 | 3It,867 | |
| Grantsmade | 7 | 794,t2s | 794,125 | 633,35t | |
| Other | I | s,482 | 5,482 | 530 | |
| Totalexpenditure | r,034,98I | 6,547 | t,04t,528 | 953,0t5 | |
| Netgainsoninvestments | 5,369 | 5,369 | t5,429 | ||
| FX(loss)/gainoninvestments | (4) | (4) | (2,082) | ||
| Net(expenditure)/income | (887,86s) | ( r,r78) | (88e,043) | (s78,4s0) | |
| Transfers betweenfunds | 473,089 | (473,08e) | |||
| Netmovement infunds | (414,776)(474,267) | (88e,043t | t,8ss,02s | ||
| Reconciliation offunds: | |||||
| Totalfundsbrought forward atIJanuary 2020 |
8t8,t20 | t,036,905 | t,8s5,025 | 2,433,475 | |
| Totalfundscarriedforward | |||||
| at3lDecember2020 | 443344 | 562,638 | 965,982 | t,855,02s |
| Notc | Í | 2020 t |
t | 2'019 t. |
||
|---|---|---|---|---|---|---|
| Fixedassets | ||||||
| Tangibleassets | il | 127.293 | 427,293 | |||
| lnvestments | l2 | 326,1t9 | 990,896 | |||
| 753,4t2 | t,4 t8,t89 | |||||
| Currrntassêts | ||||||
| Debtors | l3 | t4,560 | t2,267 | |||
| Cashatbankand inhand | 305,I88 | 647,394 | ||||
| Liabilities | ||||||
| ereditors:Amountsfalling due withinone year |
t4 | (t07,t78) | (222,82s) | |||
| Net currentassets | 2t2,574 | 436"836 | ||||
| Totalassetslesscurrentliabilities | 965,982 | t,855,025 | ||||
| Netassets | 965,982 | t,855,025 | ||||
| Thefundsofthecharity: | ||||||
| UnrestrictedIncome funds ---ffiabte-fu owmenrfirndr |
- | t515_- | 403,344 | 8t8,t20 -rfrt6;905 |
||
| 965,982 | t,855,025 | |||||
| - |
| Expendable | |||||
|---|---|---|---|---|---|
| Unrestricted | Endowment | Total | Total | ||
| Note | funds e. |
funds ¿ |
2020 e. |
20r9I | |
| Cashflowsfromoperating activities: | |||||
| Netcashprovidedby (usedin) operatingact¡vit¡es |
r6 | (r,023,302) |
(6,s47\ (r,029,849) | (4s7,340) | |
| Cash flowsfrominvestingactivities: | |||||
| Purchaseof fixedasset ¡nvestments | (38,3e6) | (38,3e6) | (6t6,34t) | ||
| Proceedsfromsaleof fixedassetinvestments | 708J42 | 708,542 | 41,166 | ||
| lnterestreceived | 737 | 737 | 4,t74 | ||
| Fixedinterest | t5,506 | t5,506 | t2,365 | ||
| Dividends received | t,258 | r,2s8 | 2,t47 | ||
| Transfers between funds | 474,029 | (474,029) | |||
| Netcashprovidedby (usedin)investingactivities | 49r,530 | t96,tt7 | 687,647 | 556,489 | |
| Change incashandcashequivalentsin reportingperiod |
(s3t,772', | r89,s70 | (342,202)(t,0t3,82e) | ||
| Cash andcashequivalentsat thebeginningof reportingperiod |
60044s | 46,949 | 647,394t,663,304 | ||
| Change incashandcashequivalents dueto exchangerate movements |
(4) | (4) | (2,082) | ||
| Cash andcashequivalentsat theendof reportingperiod |
68,669 | 236,sr9 | 30s,r88 | 642393 |
| 2. Donationsan |
dlegacies | |||||
|---|---|---|---|---|---|---|
| Expendable | Expendable | |||||
| Unrestricted | Endowment | Unrestricted | Endowment | |||
| funds f. |
funds ¿ |
2420 Ê |
funds e |
funds r. |
20t9I | |
| Donations | 2,160 | 2,t60 | I,t30 | 1,t30 | ||
| Furloughgrant -CJRS | t9,938 | t9,938 | ||||
| Other government | ||||||
| grants | 27,000 | 27,000 | ||||
| 49,098 | 49,098 | t,t30 | 1,t30 |
| 2020 I |
20t9t |
|---|---|
| 80,52t | 342,736 |
| 80,521 | 342,736 |
| 4. lnvestment income |
2020 | 2019 |
|---|---|---|
| Dividend income | t,258 | 2,056 |
| Fixedinterestincome | t5,506 | t t,t22 |
| Depositaccount interest | 737 | 4,t74 |
| r7,50t | t7,352 |
| 5. Raisingfunds |
2020 | 20t9 |
|---|---|---|
| lnvestment managementcosts: | ||
| Portfoliomanatement | 6,547 | 7,267 |
| 6,547 | 7,267 |
| 6. CharitableactiviÇcosts |
||||
|---|---|---|---|---|
| Grant | ||||
| fundingof | ||||
| Direct | activities | Total | Total | |
| costs | (seenote7) | 2020 | 2019 | |
| r. | €. | r. | €. | |
| OastHouses | ||||
| - Wages | 84,359 | 84,359 | t0t,t77 | |
| -Socialsecurity | 623 | |||
| -Pensions | 2,1l4 | 2,tt4 | 2,228 | |
| - Operations(utilities,council tax, repairs etc.) | 148,90r | t48,90t | 207,839 | |
| Grantsmade | 794,125 | 794,125 | 633,35t | |
| 235,374794,125 | 1,029,499 | 945,2t8 |
| 7. Grantspayable |
2020 | 20t9 |
|---|---|---|
| î. | c | |
| Grantsmade | 794,125 | 633,35t |
| 794,125 | 633,35t | |
| Grantsmadetocharitable institutíons: | ||
| ACT | t2,500 | |
| Alpha lnternational | 70,000 | |
| BaildonMethodistChurch | s,000 | |
| Catholic Faith Exploration | s,000 | |
| ChurchRevitalisationTrust | rs0,000 | ts0,000 |
| Demelza Hospice CareforChildren | 5,000 | |
| Farleigh School | t6,000 | |
| Glyndebourne Productions | 20,000 | 22,500 |
| HolyTrinity,Hastings | t9 t,636 | 25,000 |
| HOPETogether | 20,000 | |
| KentMSTherapyCentre | 5,000 | |
| Ltcc | t00,000 | |
| LondonCityMission | 30,000 | |
| MissionAviationFellowship | t5,000 | |
| OffTheFence | 30,000 | t0,000 |
| ParochialChurch ofBrandon | t0,000 | |
| PccGoudhurst-WealdFamilyHub | t0,000 | |
| Relational Peacebuildinglnitiatives | 5,000 | |
| ReSource | 7,500 | |
| RyeHarbourDiscoveryCentre | 7,500 | |
| RyeMemoríal CareCentre | t0,000 | |
| SpinnakerTrust | 7,000 | |
| StMichael'sHospice | 30,000 | |
| Stowe School Foundation | 40,000 | |
| Stowe PCCRestorationFund | s,000 | |
| The Archbishops' Council | r4,000 | |
| TheBible Reading Fellowship | r0,000 | |
| The GhurkaWelfare Trust | 5,000 | |
| The Point Church | s,000 | |
| TheRoyalFreeCharity | 269,389 | 7t,85I |
| XLP | r0,000 | |
| Othergrantsbelow f5,000 | 14,600 | t3,000 |
| 794,t25 | 633,35t |
| 8. Supportcosts |
2020 | 20t9 |
|---|---|---|
| r. | r. | |
| Otherresources expended: | ||
| Governancecosts | 5,008 | 326 |
| Bankcharges | 474 | 204 |
| 5,482 | 530 | |
| Accountancy | 4,758 | 326 |
| Independent examination | 250 |
| 10.Stafr Costs | 2020 | 2049 |
|---|---|---|
| Â, | r. | |
| Wagesandsalaries | 84,359 | t0t,t77 |
| Socialsecuritycosts | 623 | |
| Otherpensioncosts | 2.t t4 | 2,228 |
| 86,473 | t04,028 | |
| Theaveragemonthlynumber ofemployeesduringtheyearwasasfollows: | ||
| Oast Houses operat¡ons | l4 | t8 |
| t4 | t8 |
| Il. Tangible fixedassets |
|||
|---|---|---|---|
| Freehold | Fixtures | Total | |
| property Â. |
andfittings î |
2020 r. |
|
| Cost | |||
| AsatIJanuarT2020 and3lDecember2Q20 | 427,293 | 142,643 | 569,936 |
| Depreciation | |||
| AtIJanuary 2020 | 142,643 | 142,643 | |
| Chargeforyear | |||
| At3lDecember2020 | t42,643 | 142,643 | |
| Netbook value | |||
| At3lDecember202O | 427,293 | 427,293 | |
| At3lDecember20l9 | 427,293 | 427,293 |
| 12.Fixedassetinvestments-listed investments | 2020 | 20t9 |
|---|---|---|
| €. | Ê | |
| Marketvalueatstartof year | 990,896 | 400,293 |
| Additions | 38,396 | 6t6,34t |
| Disposals | (70r,34t) | (42,444) |
| Netunrealised gains/(losses)on investmentassets | (r,832) | t6,706 |
| Marketvalueat end of year | 326,t t9 | 990,896 |
| Historicalcostasat3IDecember20l9 | 980,367 | 406,tII |
| Historicalcostasat3lDecember2020 | 326,162 | 980,367 |
| 13. | Debtors:Amountslblllngduewlthlnoneyear | 2020 | 20t9 |
|---|---|---|---|
| Trade | debtors | 8,974 | 8,652 |
| Other | debtors | 5,5e0 | 3,615 |
| r4,560 | t2,267 | ||
| 14. | Creditors:Amountsfallingduewithinoneyear | ||
| Trade | creditors | 6,055 | t3,608 |
| Grants | payable | 60,000 | t50,000 |
| Other | creditors | 32,3l0 | s0,838 |
| t07,178 | 222,82s |
| Movementinfunds¡ | ||||||
|---|---|---|---|---|---|---|
| At | Transfer | At | ||||
| I fanuary 2020 e |
lncoming resourcesI |
Resources expendedt |
Gains and losses ¿ |
between3l funds e.t |
December 2020 |
|
| Unrestrictedfunds | 8t8,t20 | t47,120 | (r,034,98r) | (4) | 473,089 | 403,344 |
| ExpendableEndowmenc funds | t,036,90s | (6,s47) | 5,369 | (473,08e) | 562,638 | |
| Totalfunds | r,8s5,025 | 147,t20 | (r,04r,s28) | 5,3ó5 | 965,982 |
| Analysisof netassets: | |||
|---|---|---|---|
| Expendable | |||
| Unrestricted | Endowment | ||
| Fundst | funds t |
Total r |
|
| Fixedassets | 427,293 | 326,tl9 | 753,412 |
| Netcurrentassets | (23,e4e) | 236,5t9 | 212,570 |
| Totalfunds | 403,344 | 562,638 | 965,982 |
| Comparativefor themov | ement¡nfu | nds: | ||||
|---|---|---|---|---|---|---|
| At | Transfer | At |
||||
| I fanuary 20¡9 e |
lncoming resources r. |
Resources expended a |
Gainsand losses a |
between3l funds r.L |
December 201 9 |
|
| Unrestrictedfunds | t,402,857 | 36t,2t8 | (e4s,748) | Qa7) | 8t8,t20 | |
| Expendable Endowmentfunds | t,030,6t8 | (7,267) | r3,554 | t,036,905 | ||
| Totalfunds | 2,433,47s3ót,2t8 | (9s3,0ts) | 13,347 | t,855,025 |
| Expendable | |||
|---|---|---|---|
| Unrestricted | Endowment | ||
| Funds r. |
funds r. |
Totalt | |
| Fixedassets | 427,293 | 990,896 | 1,4r8,r89 |
| Net currentassets | 390,827 | 46,009 | 436,836 |
| Totalfunds | 8t8,r20 | t,036,905 | t,8s5,025 |
| Expendable | ||||||||
|---|---|---|---|---|---|---|---|---|
| Unrestrlcted | Endowment | Total | Total | |||||
| fundst | fundst | 2020 t |
20t9! | |||||
| Net expenditure forthe reportingperiod | ||||||||
| --L -¿E--- -:-l (¿5 Per Lne sfaLctflettt ur rr¡ralll¿r |
--r:--:A:--\ ¿LL¡Y¡Llc!, |
- ¡ |
1ôô7 ôl F\ (00, ,ooJl |
/ fI70\ \r rr/ 9,, |
/ooo \os |
^rt\ rtwJ,, |
I E70 tEñ\ \r/ u'a¿v/ |
|
| Adiustments for: | ||||||||
| (Gains)/lossesoninvestments | (s,36e) | (s,36e) | (t5,42e) | |||||
| Bankinterestreceived | (737) | (737) | (5,4t8) | |||||
| Decrease/(increase) in debtors | (2,2e3) | (2,2e3) | (3,336) | |||||
| lncreaseincreditors | (tts,647) | (rr | s,647) | t56,479 | ||||
| (Gains)/lossesonforeignexchange | 4 | 4 | 2,082 | |||||
| Netcash usedinoperating activities | (r,023,302) | (6,s47) | (t,Ù2e,ue) | (457,340) |
| 19.Financialinstruments | 2020 | 20t9 |
|---|---|---|
| f. | Â. | |
| Financialassetsmeasuredat fairvaluethroughincome and expenditure | 326,1t9 | 990,896 |
| Fi¡rancial assetsmeasuredat amortised cost | 3r7,582 | 656,745 |
| 643,701 | 1,647,64i | |
| Financialliabilitiesmeasuredat amortised cost | t06,5 t3 | 222,049 |