The Ty Glyn Davis Trust Limited Charity Accounts

The Ty Glyn Davis Trust Limited Charity Accounts

THE TY GLYN DAVIS TRUST LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03267674
CHARITY REGISTRATION NUMBER: 1068156
The Ty Glyn Davis Trust Limited
Company Limited by Guarantee
Unaudited Financial Statements
31 March 2020
The Ty Glyn Davis Trust Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2020
Page
Trustees' annual report (incorporating the director's report)
1
Chartered accountant's report to the board of trustees on the preparation of the unaudited statutory financial statements
6
Statement of financial activities (including income and expenditure account)
7
Statement of financial position
8
Statement of cash flows
10
Notes to the financial statements
11
The Ty Glyn Davis Trust Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2020
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2020 .
Reference and administrative details
Registered charity name
The Ty Glyn Davis Trust Limited
Charity registration number
1068156
Company registration number
03267674
Principal office
The Retreat
Graig Place
Aberdare
CF44 7RE
Registered office
The Retreat
Graig Place
Aberdare
CF44 7RE
The trustees
Geoffrey Brookes
Bruce Cardwell
Sian Davies
Anne Evans
(Resigned 11 September 2020)
Dr. Helen Herbert
Nina Hockridge
(Resigned 13 February 2020)
Roger Earis
(Resigned 18 December 2019)
Rev. John Jones
Nicholas Foot
(Resigned 18 December 2019)
Jacqui Lyne
Wendy Symons-Jones
Mary McGlynn
Lewis Thomas
(Appointed 13 February 2020)
The following trustees retire at the 2020 Annual General Meeting and being eligible offer themselves for re-election:
Accountants
Francis Gray Chartered Accountants
Chartered accountants
Ty Madog
32 Queens Road
Aberystwyth
Ceredigion
SY23 2HN
Structure, governance and management
Governing document
The charity's governing document is the Memorandum and Articles of Association on incorporation on 23 October 1996, as amended by Special Resolution dated 27 November 2013 as amended by Special Resolution registered at Companies House on 17 March 2016.
Objectives and activities
Objectives
The charitable objects of the charity are, for the public benefit:
1) The relief of those who are in need by any reason of youth, age, ill-health, disability, financial or other disadvantage by the provision and maintenance of residential holiday centres, facilities and/or projects for the use, enjoyment and benefit of such people who are in need ( in particular children and young people) and such persons as may be necessary to look after their needs.
2) To organise and provide or assist in the organisation and provision of facilities or projects for recreation in the interests of social welfare with the object of improving the condition of life for boys and girls both disabled and able-bodiedwho are under the age of 25 years (or such higher educational
age as the trustees may from time to time decide) and any person who has been injured in work or through activity and any person who needs respite care and who by reason of their youth or social and economic circumstances have need of such facilities or projects.
3) The provision of facilities, for members of the public at large in the interests of social welfare, for recreation or other leisure time occupation.
Policy to achieve objectives
The objectives are being achieved by the provision of purpose built accomodation and facilities at Ty Glyn for use by disabled individuals and groups.
Public benefit
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.
How our activities deliver public benefit
Our main activities and who we try to help are described below. All our charitable activities focus on the activities outlined in the 'Objectives' paragraph above and are undertaken to further our charitable purposes for the public benefit.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
Financial review
Risk management
In line with the requirements set by the Charity Commission, the trustees have compiled a register of potential risks. It is now felt that the major risks to which the charity is exposed, as identified by the trustees, have been reviewed and systems have been established to mitigate these risks. The risk register is reviewed on an annual basis.
Reserves
The trustees have determined that they will retain as reserves a sum which is not less than £150,000.
Review of the Year
The generous donations received during the year are much appreciated. Restricted donations received in the year were £11.7k from Morrison Foundation for improvements to the Centre.
Net incoming resources was a loss of (£10.4k), mostly due to low income from Centre bookings and additional depreciation on Centre improvements, garden building and compost toilet.
Unrestricted reserves were used to carry out further improvements to the Centre including wall insulation, new ceiling and lighting to the hallway, bedroom and washroom. Garden improvements included a new building and compost toilet. It was necessary to draw down £30k from investments in order to fund these significant improvements.
The trustees wish to express their gratitude to Kelly Melnicenko, Centre Manager, and Tony Vallance, Gardener, for their considerable achievements during the year.
Trustees' responsibilities in relation to the financial statements
The trustees (who are also directors of The Ty Glyn Davis Trust Limited for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards.
Company law requires the trustees to prepare financial statements for each financial 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, including the income and expenditure, of the charity for the year. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP;- make judgments and estimates that are reasonable and prudent;
- 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 operation.
The trustees are responsible for maintaining proper accounting records which 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 Companies Act 2006. The trustees 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 and the strategic report were approved on 26 October 2020 and signed on behalf of the board of trustees by:
Jacqui Lyne
Trustee
The Ty Glyn Davis Trust Limited
Company Limited by Guarantee
Chartered Accountant's Report to the Board of Trustees on the Preparation of the Unaudited Statutory Financial Statements of The Ty Glyn Davis Trust Limited
Year ended 31 March 2020
As described on the statement of financial position, the trustees of the charity are responsible for the preparation of the financial statements for the year ended 31 March 2020, which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes.
You consider that the charity is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Francis Gray Chartered Accountants Chartered accountants
Ty Madog 32 Queens Road Aberystwyth Ceredigion SY23 2HN
26 October 2020
The Ty Glyn Davis Trust Limited
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2020
2020
2019
Unrestricted funds
Restricted funds
Endowment funds
Total funds
Total funds
Note
£
£
£
£
£
Income and endowments
Donations and legacies
5
24,157
–
–
24,157
34,876
Investment income
6
6,130
–
–
6,130
7,937
--------
----
----
--------
--------
Total income
30,287
–
–
30,287
42,813
--------
----
----
--------
--------
Expenditure
Expenditure on charitable activities
7,8
52,852
–
–
52,852
53,250
--------
----
----
--------
--------
Total expenditure
52,852
–
–
52,852
53,250
--------
----
----
--------
--------
Net (losses)/gains on investments
9
15,290
–
–
15,290
( 26,013)
--------
----
----
--------
--------
Net (expenditure)/income and net movement in funds
( 37,855)
–
–
( 37,855)
15,576
--------
----
----
--------
--------
Reconciliation of funds
Total funds brought forward
497,532
15,887
104,844
618,263
602,687
---------
--------
---------
---------
---------
Total funds carried forward
459,677
15,887
104,844
580,408
618,263
---------
--------
---------
---------
---------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The Ty Glyn Davis Trust Limited
Company Limited by Guarantee
Statement of Financial Position
31 March 2020
2020
2019
Note
£
£
£
Fixed assets
Tangible fixed assets
13
226,330
231,255
Investments
14
345,259
380,549
---------
---------
571,589
611,804
Current assets
Debtors
15
2,930
3,512
Cash at bank and in hand
11,073
9,677
--------
--------
14,003
13,189
Creditors: amounts falling due within one year
16
2,475
6,730
--------
--------
Net current assets
11,528
6,459
---------
---------
Total assets less current liabilities
583,117
618,263
Creditors: amounts falling due after more than one year
17
2,709
–
---------
---------
Net assets
580,408
618,263
---------
---------
Funds of the charity
Endowment funds
104,844
104,844
Restricted funds
15,887
15,887
Unrestricted funds
459,677
497,532
---------
---------
Total charity funds
19
580,408
618,263
---------
---------
For the year ending 31 March 2020 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The Ty Glyn Davis Trust Limited
Company Limited by Guarantee
Statement of Financial Position (continued)
31 March 2020
These financial statements were approved by the board of trustees and authorised for issue on 26 October 2020 , and are signed on behalf of the board by:
Jacqui Lyne
Trustee
The Ty Glyn Davis Trust Limited
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2020
2020
2019
£
£
Cash flows from operating activities
Net (expenditure)/income
(37,855)
15,576
Adjustments for:
Depreciation of tangible fixed assets
4,925
4,925
Net (losses)/gains on investments
15,290
(26,013)
Other interest receivable and similar income
( 6,130)
( 7,937)
Accrued income
( 4,256)
( 13,417)
Changes in:
Trade and other debtors
582
3,176
Trade and other creditors
5,419
1
--------
--------
Cash generated from operations
( 22,025)
( 23,689)
Interest received
6,130
7,937
--------
--------
Net cash used in operating activities
( 15,895)
( 15,752)
--------
--------
Cash flows from investing activities
Purchase of tangible assets
–
( 41,412)
Purchases of other investments
35,290
4,164
Proceeds from sale of other investments
( 15,290)
25,835
--------
--------
Net cash from/(used in) investing activities
20,000
( 11,413)
--------
--------
Net increase/(decrease) in cash and cash equivalents
4,105
( 27,165)
Cash and cash equivalents at beginning of year
9,677
36,842
--------
--------
Cash and cash equivalents at end of year
13,782
9,677
--------
--------
The Ty Glyn Davis Trust Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2020
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is The Retreat, Graig Place, Aberdare, CF44 7RE.
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 Companies Act 2006.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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.
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: - 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. - legacy income is recognised when receipt is probable and entitlement is established. - 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
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
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.
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
-
2% straight line
Equipment
-
15% 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.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
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 cash-generating 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.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
The Ty Glyn Davis Trust Limited is a company limited by guarantee and a registered charity governed by its memorandum and articles of association.
5. Donations and legacies
Unrestricted Funds
Restricted Funds
Total Funds 2020
£
£
£
Donations
Unrestricted donations
1,579
–
1,579
Restricted donations
–
–
–
Accomodation
22,578
–
22,578
--------
----
--------
24,157
–
24,157
--------
----
--------
Unrestricted Funds
Restricted Funds
Total Funds 2019
£
£
£
Donations
Unrestricted donations
1,028
–
1,028
Restricted donations
–
11,227
11,227
Accomodation
22,621
–
22,621
--------
--------
--------
23,649
11,227
34,876
--------
--------
--------
6. Investment income
Unrestricted Funds
Total Funds 2020
Unrestricted Funds
Total Funds 2019
£
£
£
£
Bank interest receivable
3
3
6
6
Other investment income
6,127
6,127
7,931
7,931
-------
-------
-------
-------
6,130
6,130
7,937
7,937
-------
-------
-------
-------
7. Expenditure on charitable activities by fund type
Unrestricted Funds
Total Funds 2020
Unrestricted Funds
Total Funds 2019
£
£
£
£
Activity type 1
52,852
52,852
53,250
53,250
--------
--------
--------
--------
8. Expenditure on charitable activities by activity type
Activities undertaken directly
Total funds 2020
Total fund 2019
£
£
£
Activity type 1
52,852
52,852
53,250
--------
--------
--------
9. Net (losses)/gains on investments
Unrestricted Funds
Total Funds 2020
Unrestricted Funds
Total Funds 2019
£
£
£
£
Gains/(losses) on other investment assets
( 15,290)
( 15,290)
26,013
26,013
--------
--------
--------
--------
10. Net (expenditure)/income
Net (expenditure)/income is stated after charging/(crediting):
2020
2019
£
£
Depreciation of tangible fixed assets
4,925
4,925
-------
-------
11. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2020
2019
£
£
Wages and salaries
22,762
22,426
--------
--------
The average head count of employees during the year was 2 (2019: 2 ). The average number of full-time equivalent employees during the year is analysed as follows:
2020
2019
No.
No.
Number of staff
2
2
----
----
No employee received employee benefits of more than £60,000 during the year (2019: Nil).
12. Trustee remuneration and expenses
None of the trustees have been paid any remuneration by the charity, or received any other benefits from an employment with the charity or any related entity.
No trustee expenses have been incurred or paid during the year.
13. Tangible fixed assets
Land and buildings
Equipment
Total
£
£
£
Cost
At 1 April 2019 and 31 March 2020
227,811
78,975
306,786
---------
--------
---------
Depreciation
At 1 April 2019
59,988
15,543
75,531
Charge for the year
4,925
–
4,925
---------
--------
---------
At 31 March 2020
64,913
15,543
80,456
---------
--------
---------
Carrying amount
At 31 March 2020
162,898
63,432
226,330
---------
--------
---------
At 31 March 2019
167,823
63,432
231,255
---------
--------
---------
At Cost or Revaluation: Land £45,000 (2019:£45,000), Buildings £246,244 (2019:£246,244). At Net book value: Land £45,000 (2019:£45,000), Buildings £181,330 (2019:£186,255). The Land is not depreciated, whereas the Buildings are depreciated at 2% on a straight line basis. The land on which the centre stands was transferred to Ty Glyn Davis Trust Limited as a gift in 1998. The building and equipment was transferred to Ty Glyn Davis Trust Limited in October 1996. The trustees elected to revalue at their discretion and using their best judgement.
14. Investments
Other investments
£
Cost or valuation
At 1 April 2019
380,549
Additions
–
Other movements
(35,290)
---------
At 31 March 2020
345,259
---------
Impairment
At 1 April 2019 and 31 March 2020
–
---------
Carrying amount
At 31 March 2020
345,259
---------
At 31 March 2019
380,549
---------
All investments shown above are held at valuation.
15. Debtors
2020
2019
£
£
Prepayments and accrued income
2,930
3,512
-------
-------
16. Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
451
450
Accruals and deferred income
2,024
6,280
-------
-------
2,475
6,730
-------
-------
17. Creditors: amounts falling due after more than one year
2020
2019
£
£
Accruals and deferred income
2,709
–
-------
----
18. Deferred income
2020
2019
£
£
Amount deferred in year
2,709
–
-------
----
19. Analysis of charitable funds
Unrestricted funds
At 1 Apr 2019
Income
Expenditure
Transfers
Gains and losses
At 31 Mar 2020
£
£
£
£
£
£
Unrestricted Funds
497,532
30,287
(52,852)
–
(15,290)
459,677
---------
--------
--------
----
--------
---------
At 1 Apr 2018
Income
Expenditure
Transfers
Gains and losses
At 31 Mar 2019
£
£
£
£
£
£
Unrestricted Funds
526,876
31,586
(53,250)
(33,693)
26,013
497,532
---------
--------
--------
--------
--------
---------
Restricted funds
At 1 Apr 2019
Income
Expenditure
Transfers
Gains and losses
At 31 Mar 2020
£
£
£
£
£
£
Garden Restoration Fund
15,887
–
–
–
–
15,887
--------
----
----
----
----
--------
At 1 Apr 2018
Income
Expenditure
Transfers
Gains and losses
At 31 Mar 2019
£
£
£
£
£
£
Garden Restoration Fund
12,379
11,227
–
(7,719)
–
15,887
--------
--------
----
-------
----
--------
Endowment funds
At 1 Apr 2019
Income
Expenditure
Transfers
Gains and losses
At 31 Mar 2020
£
£
£
£
£
£
Endowment Fund
104,844
–
–
–
–
104,844
---------
----
----
----
----
---------
At 1 Apr 2018
Income
Expenditure
Transfers
Gains and losses
At 31 Mar 2019
£
£
£
£
£
£
Endowment Fund
63,432
–
–
41,412
–
104,844
--------
----
----
--------
----
---------
20. Analysis of net assets between funds
Unrestricted Funds
Restricted Funds
Endowment Funds
Total Funds 2020
£
£
£
£
Tangible fixed assets
105,599
15,887
104,844
226,330
Investments
345,259
–
–
345,259
Current assets
14,003
–
–
14,003
Creditors less than 1 year
(2,475)
–
–
(2,475)
Creditors greater than 1 year
(2,709)
–
–
(2,709)
---------
--------
---------
---------
Net assets
459,677
15,887
104,844
580,408
---------
--------
---------
---------
Unrestricted Funds
Restricted Funds
Endowment Funds
Total Funds 2019
£
£
£
£
Tangible fixed assets
110,524
15,887
104,844
231,255
Investments
380,549
–
–
380,549
Current assets
13,189
–
–
13,189
Creditors less than 1 year
(6,730)
–
–
(6,730)
Creditors greater than 1 year
–
–
–
–
---------
--------
---------
---------
Net assets
497,532
15,887
104,844
618,263
---------
--------
---------
---------
21. Analysis of changes in net debt
At 1 Apr 2019
Cash flows
At 31 Mar 2020
£
£
£
Cash at bank and in hand
9,677
1,396
11,073
-------
-------
--------