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|ReportoftheTrustees|24|
|lndependent examiner'sreporr|5|
|Statement offìnancialactivities|6|
|Balance sheet|7|
|Statement ofcashflows|I|
|Notestothefinancial statements|9-17|
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|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|
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||||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|
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|||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|
|-|||||||
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||||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|
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|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|
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|2020
I|20t9t|
|---|---|
|80,52t|342,736|
|80,521|342,736|
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|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|
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|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|
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|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||
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|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|
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|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|
##
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|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|||||||||
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|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)||
##
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|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|