The Sir Winston Churchill Archive Trust
Registered Charity No 1045646
Report and Financial Statements
for the year ended 30 June 2023
Sir Winston Churchill Archive Trust
Registered Charity No. 1045646
Report and financial statements
for the year ended 30 June 2023
| Page | |
|---|---|
| Contents | 1 |
| Trustees and Advisers | 2 |
| Trustees' Report | 3 - 6 |
| Statement of Trustees' Responsibilities | 7 |
| Report of the Auditors | 8 |
| Statement of Financial Activities | 11 |
| Balance Sheet | 12 |
| Notes to the Financial Statements | 13 - 19 |
1
Sir Winston Churchill Archive Trust
Registered Charity No. 1045646
Trustees and Advisers
Trustees
Chair
The Rt. Hon. Lord Boateng Chair Professor Stephen Toope Vice-Chancellor of Cambridge University (to 1 October 22) Dr Anthony Freeling Acting Vice-Chancellor of Cambridge University (1 October 22 to 1 July 23) Professor Deborah Prentice Vice-Chancellor of Cambridge University (from 1 July 2023) Mrs Tamsin James Bursar of Churchill College Professor Dame Athene Donald Master of Churchill College Dr Jessica Hall Cambridge University Librarian Dr William Frame Representative of the British Library Mrs Gillian Webber Representative of the Imperial War Museum
Chief Executive Officer (to whom day-to-day management is delegated) Mrs T M James
Secretary and Principal Address
Mr A Packwood Churchill College Storey's Way Cambridge CB3 0DS
Statutory Auditors Price Bailey LLP Tennyson House Cambridge Business Park Cambridge CB4 0WZ
Solicitors Bristows LLP 100 Victoria Embankment London EC4Y 0DH
Bankers Lloyds Bank 3 Sidney Street Cambridge, CB2 3HG
CCLA Investment Management Ltd COIF Charity Funds 80 Cheapside London EC2V 6DZ
Investment Managers BNY Mellon Fund Managers Ltd BNY Mellon Centre 160 Queen Victoria Street London EC4V 4LA
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Registered Charity No. 1045646
Sir Winston Churchill Archive Trust
Trustees' report for the year ended 30 June 2023
The Trustees present their annual report and financial statements for the year ended 30 June 2023. 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 trust deed, 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 applicable in the UK and Republic of Ireland (FRS102) effective for accounting period commencing on or after 1 January 2019.
Structure, Governance and Management
The charity was established by a Declaration of Charitable Trust dated 3 April 1995.
The Vice-Chancellor and Librarian of the University of Cambridge are ex-officio Trustees, alongside the Master and Bursar of Churchill College. The British Library and the Imperial War Museum have the power to appoint nominated Trustees. The Ex-officio external and Nominated Trustees appoint the Elected Trustee.
The nominated Trustees and the Elected Trustee hold office for five years and may be re-appointed for one further term of five years. Advice is sought from the Nominating bodies when a vacancy occurs among the Trustees. An appropriate balance of experience and enthusiasm for the objectives of the charity are sought.
New Trustees are shown the work of the Centre and the Trust by the Director, Mr Packwood. They receive detailed reports of the work of the Trust and of the Archives Centre. Training is made available to Trustees from a number of sources, including the investment managers.
The Chairman is elected by the Trustees from among the Nominated and Elected Trustees. The Trust is currently chaired by the Elected Trustee, The Rt. Hon. The Lord Boateng.
In accordance with the Statement of Recommended Practice (Accounting and Reporting by Charities), the Trust is defined as being connected with Churchill College, whose principal address is Storey's Way, Cambridge, CB3 0DS. Both entities have common administration.
Risk Management
The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
Objectives and Activities for the Public Benefit
The object of the Sir Winston Churchill Archive Trust is the conservation and preservation of the Churchill Papers for educational purposes, whether through scholarly research or public display. The papers may be viewed by any member of the general public. The seven Trustees are given wide discretionary powers but they are obliged to observe the statutes of the Trust, to safeguard its assets and to present annual accounts.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities.
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Sir Winston Churchill Archive Trust
Registered Charity No. 1045646
Trustees' report for the year ended 30 June 2023 (continued)
The Trustees of the Sir Winston Churchill Archive Trust are responsible for the conservation and management of the Winston Churchill Archives under the authority of the National Heritage Memorial Fund. They do not employ staff directly but the management and exhibition of the papers is carried out by employees of Churchill College working in the College's Archives Centre who are responsible to the Trustees for that portion of their wider task required for the management of the Churchill Archives itself. The Trustees meet regularly to ensure that the management is effective.
During the year, the main objectives for the Trust were:
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to continue working with commercial partner on the online publication, Churchill Archive Online, and the related Churchill Archive for Schools websites, including plans to add additional material retrieved from the estate of the official Churchill biographer
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to support research and publication of the Churchill Papers collection
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to review and monitor care and use of the Churchill Papers collection
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to review and monitor the management of the Trust’s endowment and cash funds
The Trust contributes every year to the Churchill College Archives Centre which houses the papers owned by the Trust and provides and maintains the facilities to enable them to carry out their work in furtherance of the charitable objectives.
Achievements and Performance
The Trust met on 22 November 2022. The Trustees confirmed the appointment of the two nominated Trustees for a second term, approved the annual accounts and letter of representation, reviewed the statement of risks and Trustee declarations of interests, approved the investment policy and the inhouse digitisation of the Churchill acquired Papers by the Churchill Archives Centre team. They received reports on the Bloomsbury websites and the Archives Centre’s plans for its 50th Anniversary.
The Trust also met on 6 Feb 2023. The Trustees agreed to set aside an amount of £10,000 per annum to be spent on the Archives Centre’s digital preservation management system during the years 2022/23, 2023/24 and 2024/25. They received plans for the Archives Centre’s 50th anniversary conference and considered future access to the Churchill Papers collection.
The full financial report shows that the Trust completed its twenty-seventh year with total funds of £3,076,473 (compared to £2,933,841 in 2022). The Trust made a grant of £55,000 to Churchill College to support the work of the Churchill Archives Centre (£50,000 in 2022). An additional payment of £10,000 was made to Churchill College in respect of the digital preservation management system.
The Churchill Papers were made available through two websites, run by Bloomsbury. The Churchill Archive Online (https://www.churchillarchive.com/) is a subscription site and was accessed 36,897 users in 47,923 sessions between the 1 July 2022 and 30 August 2023. The Churchill Archive for Schools is a free website and was accessed by 54,830 users in 64,810 sessions between 1 July 2022 and 30 June 2023.
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Sir Winston Churchill Archive Trust
Registered Charity No. 1045646
Trustees' report for the year ended 30 June 2023 (continued)
Financial Review
At 30 June 2023 the Trust held £266,476 (2022: £265,923) of unrestricted funds. These funds will be required to meet any shortfall in income against expenditure in the short term until additional funding is secured. £20,000 has been designated for the Trust's contribution to the digital management preservation system over the next 2 years.
The Trust is currently funded by income from its investments.
The Trust has an on-going commitment to fund the management and conservation of the Churchill Papers held on its behalf by the Churchill Archives Centre. It will seek to retain sufficient capital to generate the income required to fulfil these commitments.
The Trustees are of the opinion, on a fund-by-fund basis, that assets are available to fulfil the obligations of the charity.
All investment funds have been invested in Newton Growth and Income Fund for charities since January 2017. The Newton Growth and Income Fund for Charities is a unit trust authorised by the Financial Conduct Authority as a non UCITS retail scheme and is operated by BNY Mellon Fund Managers Limited.
The Newton Growth and Income Fund for Charities aims to generate capital growth and income growth over a period of 5-7 years by investing at least 70% of the assets in a global portfolio of equities and fixed income securities.
The fund is specifically designed for charity clients in the UK and has a policy of no direct investment in companies which derive more than 10% turnover from tobacco production.
The Trustees have wide investment powers and all investments made during the year fall within these powers.
Fundraising Activities
The Trust does not carry out any fundraising activities.
Reserves Policy
The Trustees have a policy of retaining sufficient liquid assets to meet on-going commitments which is deemed to be one year of expenditure. This is estimated to be no more than £90,000. The Trust had unrestricted reserves of £266,476 at 30 June 2023 (£265,923 at 30 June 2022), and net current assets of £169,459 (£173,811 at 30 June 2022) and therefore meets its reserves policy.
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Sir Winston Churchill Archive Trust
Registered Charity No. 1045646
Trustees' report for the year ended 30 June 2023 (continued)
Plans for future Periods
The main objective of the Trust is to support the Churchill Archives Centre in planning and delivering online access to the collection for the benefit of the public.
The Trust will work to ensure the proper security, integrity and preservation of the collection, and will also monitor and advise on the exhibition of the papers in the UK and overseas.
The Trust will work to widen access to the collection, nationally and internationally.
Auditors
Price Bailey LLP was reappointed as the Trust's Auditors, having carried out an Independent Examination in prior years.
By order of the Trustees
Mrs T M James Trustee
Date: ���������������
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Sir Winston Churchill Archive Trust
Registered Charity No. 1045646
Statement of Trustee's Responsibilities
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the Trustees should follow best practice and:
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Observe the methods and principles of the Charities SORP 2019 (FRS102);
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Select suitable accounting policies and then apply them consistently;
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Make judgements and estimates that are reasonable and prudent;
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State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial
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- 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 keeping proper accounting records that 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 Charities (Accounts and Reports) Regulations 2008 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
By order of the Trustees
Mrs T M James Trustee
Date:
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Sir Winston Churchill Archive Trust
Registered Charity No. 1061822
Auditor’s responsibilities for the audit of the financial statements (continued)
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We reviewed minutes of Trustee Board meetings and agreed the financial statement disclosures to underlying supporting documentation.
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We have made enquiries of management and officers of the Trust regarding laws and regulations applicable to the organisation.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standards-andguidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-foraudit.aspx.
This description forms part of our auditor’s report.
Use of our report
This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Price Bailey LLP
Statutory Auditor Tennyson House Cambridge Business Park Cambridge CB4 0W
Date: 15 December 202318 December 2023
Price Bailey LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
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Sir Winston Churchill Archive Trust
Registered Charity No. 1045646
Statement of Financial Activities for the year ended 30 June 2023
| Note INCOME Investment Income 2 Publishing Fees Total Income EXPENDITURE Charitable Activities 3 Total Expenditure Transfer from Endowment Fund to Cash Fund 3 Net Gains/(Losses) on Investments Net Income/(Expenditure) RECONCILIATION OF FUNDS Total Funds Brought Forward Total Funds Carried Forward Net (Expenditure)/Income for the year before transfers Net (Expenditure)/ Income before other gains and losses |
Unrestricted Funds 2023 £ 3,626 12,076 15,702 84,514 84,514 (68,812) 64,460 (4,352) 4,905 553 265,923 266,476 |
Endowment Funds 2023 £ 64,460 - 64,460 - - 64,460 (64,460) - 142,079 142,079 2,667,918 2,809,997 |
Total Funds 2023 £ 68,086 12,076 80,162 84,514 84,514 (4,352) - (4,352) 146,984 142,632 2,933,841 3,076,473 |
Total Funds 2022 £ 63,949 18,221 82,170 66,434 66,434 15,736 - 15,736 (52,763) (37,027) 2,970,868 2,933,841 |
|---|---|---|---|---|
All income and expenditure derives from continuing activities.
The statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 13 to 19 form part of these accounts
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Sir Winston Churchill Archive Trust
Registered Charity No. 1045646
Balance Sheet as at 30 June 2023
| Note Fixed Assets Investments - Securities 5 Investments - Cash 5 Total Fixed Assets Current Assets Debtors 6 Cash at Bank and in Hand 11 Total Current Assets Liabilities: Amounts falling due within one year 7 Net Current Assets Net Assets 10 THE FUNDS OF THE CHARITY Capital Funds Expendable Endowments 8 Income Funds Unrestricted Funds 9 Designated Funds 9 Total Charity Funds |
£ £ 2,845,967 61,047 2,907,014 5,306 194,907 200,213 (30,754) 169,459 3,076,473 2,809,997 246,476 20,000 3,076,473 2023 |
£ £ 2,580,628 179,402 2,760,030 9,336 177,430 186,766 (12,955) 173,811 2,933,841 2,667,918 265,923 - 2,933,841 2022 |
|---|---|---|
The notes on pages 13 to 19 form part of these accounts
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Mrs T M James Trustee
Date:�����������������
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Sir Winston Churchill Archive Trust
Registered Charity No. 1045646
Notes to the Financial Statements for the year ended 30 June 2023
The principal accounting policies adopted are laid out below, presented in sterling, and rounded to the nearest
1 Accounting Policies
(a) Basis of Accounting
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 January 2019) - (Charities SORP (FRS 102)); the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a ‘true and fair’ view and 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 Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective for accounting periods commencing on or after 1 January 2019.
The Trust constitutes a public benefit entity as defined by FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy
(b) Going Concern
As at 30 June 2023, the Trust had enough cash reserves to fund its usual level of activities for the next two years.
The Trustees therefore consider that there are no material uncertainties about the Trust’s ability to continue as a going concern. As such, they continue to adopt the going concern basis of accounts in preparing the financial statements.
(c) Fund Accounting
The financial statements refer to two separately distinguished funds:
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(i) The Income Fund represents all unrestricted funds which are for the cataloguing, care, maintenance and improvement of the condition of the Churchill Archive and such activities relating to the archive as are authorised. The Income Fund also includes all of the normal income and expenditure of the Trust.
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(ii) The Capital Fund includes an endowment fund which was established to provide future income of the Trust.
The Agreement relating to the Churchill Archive provides that the capital of the endowment fund may be expended.
(d) Debtors
Debtors are recognised at the settlement amount due.
(e) Cash at Bank and in Hand
Cash at bank and cash in hand includes cash and money held in deposit or similar accounts.
13
Sir Winston Churchill Archive Trust
Registered Charity No. 1045646
Notes to the Financial Statements for the year ended 30 June 2023 (continued)
(f) Creditors
Creditors 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 are normally recognised at their settlement amount after allowing for any trade discounts due.
(g) Income
Income from grants receivable, investments and bank deposits is included in the Statement of Financial Activities as income. Interest is included gross and dividends include the related tax
(h) Expenditure
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be recovered and is reported as part of the expenditure to which it relates.
Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance expenditure comprises those costs associated with meeting the constitutional and statutory requirements of the Charity and include the audit fees and costs linked to the strategic management of the Charity.
All costs are allocated between the expenditure categories of the statement of financial activities on a basis designed to reflect the use of the resources. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.
(i) Heritage Assets
The Trust has heritage assets which are of historical importance and are held to advance the educational objectives of the charity and for preservation and conservation. Sufficiently reliable information about the value of these assets is not available and hence they are not included in the balance sheet.
(j) Investment Assets
Investments held for the long-term to generate income or capital growth are carried at market value measured as the bid value at the Balance Sheet date which is considered to be the fair value and disclosed as fixed asset investments at the balance sheet date.
(k) Realised and Unrealised Gains and Losses on Investment Assets
Realised gains and losses are recognised as arising at the time of disposals from the portfolio by comparing the sale proceeds with the acquisition cost.
Any unrealised increase or decrease in the value of investment assets is shown as an unrealised gain or loss in the Statement of Financial Activities.
14
Sir Winston Churchill Archive Trust
Registered Charity No. 1045646
Notes to the Financial Statements for the year ended 30 June 2023 (continued)
(l) Financial Instruments
Financial assets and financial liabilities are recognised when the Trust becomes a party to the contractual provisions of the instrument. All financial assets and liabilities are initially measured at transaction price (including transaction costs).
The Trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value which is deemed to be fair value. Investments are valued at the closing bid price as disclosed in note 5.
(m) Significant Accounting Estimates and Judgements
There are no significant accounting estimates or judgements which might materially affect the financial statements.
| 2 Investment Income Income from listed investments Interest 3 Analysis of Expenditure Expenditure 2022/23 Basis of Allocation Costs Directly allocated to Maintenance of Archive: Grant to Churchill College Archives Centre Direct Insurance Direct Legal & Professional Fees Direct Audit Fees Direct Other Costs Direct Expenditure 2021/22 Basis of Allocation Costs Directly allocated to Maintenance of Archive: Grant to Churchill College Archives Centre Direct Conservation and Cataloguing Direct Insurance Direct Legal & Professional Fees Direct Independent Examiner Fees Direct Other Costs Direct |
Cost of Charitable Activities £ 65,000 14,044 - - 30 79,074 Cost of Charitable Activities £ 50,000 3,398 12,305 - - 31 65,734 |
2023 £ 66,686 1,400 68,086 Govern- ance £ - - 40 5,400 - 5,440 Govern- ance £ - - - 40 660 - 700 |
2022 £ 63,889 60 63,949 2023 Total £ 65,000 14,044 40 5,400 30 84,514 2022 Total £ 50,000 3,398 12,305 40 660 31 66,434 |
|---|---|---|---|
15
Sir Winston Churchill Archive Trust
Registered Charity No. 1045646
Notes to the Financial Statements for the year ended 30 June 2023 (continued)
4 Trustees' remuneration
No Trustee received any remuneration in respect of services to the Trust in the year. No expenses were reimbursed to Trustees in the year (2022: £Nil).
| 5 Fixed Asset Investments Opening historic/book cost Opening unrealised appreciation of investments Opening market value Unrealised (loss)/gain Closing calculation Closing historic/book cost Closing unrealised appreciation of investments Closing market value |
2023 £ 2,123,100 636,930 2,760,030 146,984 2,907,014 2,123,100 783,914 2,907,014 |
2022 £ 2,123,100 689,693 2,812,793 (52,763) 2,760,030 2,123,100 636,930 2,760,030 |
|---|---|---|
| 2023 Analysis of Investments Equities Fixed Interest Securities Cash held as part of investment portfolio 2022 Analysis of Investments Equities Fixed Interest Securities Cash held as part of investment portfolio |
UK 2023 £ 976,757 520,356 1,497,113 61,047 1,558,160 UK 2022 £ 1,007,411 436,085 1,443,496 179,402 1,622,898 |
Overseas 2023 £ 1,348,854 - 1,348,854 - 1,348,854 Overseas 2022 £ 1,137,132 - 1,137,132 - 1,137,132 |
Total 2023 £ 2,325,611 520,356 2,845,967 61,047 2,907,014 Total 2022 £ 2,144,543 436,085 2,580,628 179,402 2,760,030 |
Percentage 2023 % 80.00% 17.90% 97.90% 2.10% 100.00% Percentage 2022 % 77.70% 15.80% 93.50% 6.50% 100.00% |
|---|---|---|---|---|
16
Sir Winston Churchill Archive Trust
Registered Charity No. 1045646
Notes to the Financial Statements for the year ended 30 June 2023 (continued)
| 6 Debtors Amounts falling due within one year Publishing Fees All debtors relate to unrestricted funds. 7 Creditors Amounts falling due within one year Churchill College Auditors' remuneration All creditors in 2023 relate to unrestricted funds. 8 Endowments Balance as at 1 July 2022 Movement in funds, gains and transfers Balance as at 30 June 2023 |
Unrestricted Funds 2023 £ 5,306 5,306 Unrestricted Funds 2023 £ 25,354 5,400 30,754 |
Endowment Funds 2023 £ - - Endowment Funds 2023 £ - - - |
Total Funds 2023 £ 5,306 5,306 Total Funds 2023 £ 25,354 5,400 30,754 2023 £ 2,667,918 142,079 2,809,997 |
Total Funds 2022 £ 9,336 9,336 Total Funds 2022 £ 12,295 660 12,955 2022 £ 2,718,920 (51,002) 2,667,918 |
|---|---|---|---|---|
The endowment fund was established in 1995 to provide future income for the Trust.
9 Income Funds - Unrestricted
The income of the Trust represents unrestricted funds for the cataloguing, maintenance and improvement of the condition of the Churchill Archive and such other activities relating to the Archive as authorised. £20,000 has been set aside to cover the costs of the Digital Preservation Managment System over the next two years.
| Unrestricted funds: Balance as at 1 July 2022 Movement in funds, gains and transfers Balance as at 30 June 2023 Designated funds: Balance as at 1 July 2022 Movement in funds, gains and transfers Balance as at 30 June 2023 |
2023 £ 265,923 (19,447) 246,476 - 20,000 20,000 |
2022 £ 251,948 13,975 265,923 - - - |
|---|---|---|
17
Sir Winston Churchill Archive Trust
Registered Charity No. 1045646
Notes to the Financial Statements for the year ended 30 June 2023 (continued)
| 10 Analysis of net assets between funds 2023 Investments Current Assets Current Liabilities Total net assets Unrealised gains at 1 July 2022 Unrealised losses in year Total unrealised gains at 30 June 2023 Analysis of net assets between funds 2022 Investments Current Assets Current Liabilities Total net assets Unrealised gains at 1 July 2021 Unrealised losses in year Total unrealised gains at 30 June 2022 11 Analysis of Cash and Cash Equivalents Current account Deposit accounts Total Cash and Cash Equivalents Analysis of Changes in Net Debt Cash at bank and in hand |
Unrestricted Funds 2023 £ 97,017 180,213 (30,754) 246,476 21,256 4,905 26,161 Unrestricted Funds 2022 £ 92,112 186,766 (12,955) 265,923 23,017 (1,761) 21,256 |
Designated Funds 2022 £ - 20,000 - 20,000 - - - Designated Funds 2022 £ - - - - - - - As at 1 July 2022 177,430 |
Endowment Funds 2023 £ 2,809,997 - - 2,809,997 615,674 142,079 757,753 Endowment Funds 2022 £ 2,667,918 - - 2,667,918 666,676 (51,002) 615,674 2023 £ 28,192 166,715 194,907 Cashflows 17,477 |
Total Funds 2023 £ 2,907,014 200,213 (30,754) 3,076,473 636,930 146,984 783,914 Total Funds 2022 £ 2,760,030 186,766 (12,955) 2,933,841 689,693 (52,763) 636,930 2022 £ 11,950 165,480 177,430 As at 30 June 2023 194,907 |
|---|---|---|---|---|
18
Sir Winston Churchill Archive Trust
Registered Charity No. 1045646
Notes to the Financial Statements for the year ended 30 June 2023 (continued)
12 Related Parties
The activities of the charity are based at Churchill College to whom it makes contribution towards the charity's running costs. The Trust Deed stipulates that the Master and Bursar of Churchill College are exofficio Trustees of the charity. The current chief executive officer is the Bursar of Churchill College.
Expenditure of £79,744 (2022: £66,403) was incurred by the College on behalf of the Trust and the College received £66,685 (2022: £63,889 on behalf of the Trust. Included within the Trust's creditors as at 30 June 2023 is an amount of £25,354 due to the College (2022: £12,295), the Trust having transferred £Nil (2022: £Nil) to the College during the year.
There are not other related party transactions to note.
13 Statement of Financial Activities for the year ended 30 June 2022
| INCOME Investment Income Other Income Publishing Fees Miscellaneous Total Income EXPENDITURE Charitable Activities Total Expenditure Net (Expenditure)/Income for the year before transfers Transfer from Endowment Fund to Cash Fund Net Income before other Gains and Losses Unrealised Losses on Investments Net Movement in Funds RECONCILIATION OF FUNDS Total Funds Brought Forward Total Funds Carried Forward |
Unrestricted Funds 2022 £ 2,192 18,221 - 20,413 66,434 66,434 (46,021) 61,757 15,736 (1,761) 13,975 251,948 265,923 |
Endowment Funds 2022 £ 61,757 - - 61,757 - - 61,757 (61,757) - (51,002) (51,002) 2,718,920 2,667,918 |
Total Funds 2022 £ 63,949 18,221 - 82,170 66,434 66,434 15,736 - 15,736 (52,763) (37,027) 2,970,868 2,933,841 |
|---|---|---|---|
19