| Page | ||
|---|---|---|
| Report ofthe Trustees | Ito4 | |
| Report ofthe Independent Auditors |
5to 7 | |
| Statement ofFinancial | Activities | |
| Balance Sheet | 9to 10 | |
| Notes to the Fiuancial | Statements | 11to 17 |
| Detailed Statement ofFinancial Activities 2019 | 18 |
| 2020 | 2019 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total fmtds | Total funds | |||
| funds | funds | |||||
| Notes | ||||||
| INCOME FROM: | ||||||
| Donations | 106,375 | 106,375 | 119,244 | |||
| Investments | 52,503 | 16,098 | 68,601 | 82,765 | ||
| Total income | 158,878 | 16,098 | 174,976 | 202,009 | ||
| EXPENDITURE ON: | ||||||
| Investment management |
costs | 9,792 | 2,843 | 12,635 | 12,428 | |
| Charitable activities |
340,728 | 340,728 | 127,790 | |||
| Total expenditure | 350,520 | 2,843 | 353,363 | 140,218 | ||
| Net gains/losses on investments |
(82,497) | (51,984) | (134,481) | 6,982 | ||
| NET INCOME | (274,139) | (38,729) | (312,868) | 68,773 | ||
| RECONCILIATION | OF FUNDS | |||||
| Total funds brought forward | 2,195,700 | 860,986 | 3.056,686 | 2,987,913 | ||
| TOTAL FUNDS CARRIED FORWARD | 1,921,561 | 822,257 | 2,743,818 | 3,056,686 |
| BALANCE SHEET AT 31STJULY 2020 |
|||
|---|---|---|---|
| 2020 | 2019 | ||
| Total funds | Total funds | ||
| Notes | |||
| FIXEDASSETS | |||
| Investments | 2 576673 | 2 720 308 | |
| CURRENT ASSETS | |||
| Debtors | 12 | 4,550 | 4,896 |
| Cash at bank | 367,064 | 337,452 | |
| 371,614 | 342,348 | ||
| CREDITORS | |||
| Amounts falling due within one year |
13 | (204,469) | (5,970) |
| NET CURRENT ASSETS | 167,145 | 336,378 | |
| TOTAL ASSETSLESSCURRENT | |||
| LIABILITIES | 2,743,818 | 3,056,686 | |
| NKT ASSETS | 2,743,818 | 3,056,686 | |
| FUNDS | |||
| Unrestricted funds |
1,921,561 | 2,195,700 | |
| Restricted funds | |||
| Chipp fund | 646,417 | 685,146 | |
| Griffith | 175,840 | 175,840 | |
| 822,257 | 860,986 | ||
| TOTAL FUNDS | 2,743,818 | 3,056,686 |
| 4. | DONATIONS | |||||
|---|---|---|---|---|---|---|
| 2020 | 2019 | |||||
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | funds | Funds | |||
| 6 | f | f | ||||
| Loan repayments | ||||||
| Parental and other donations |
106,375 | 106,375 | 119,244 | |||
| 106,375 | 106,375 | 119,244 | ||||
| 5. | INVESTMENT INCOME | |||||
| 2020 | 2019 | |||||
| Unrestricted | Restricted | Total | Total | |||
| Funds | funds | Funds | Funds | |||
| Dividends from investments |
51,960 | 16,098 | 68,058 | 82,269 | ||
| Deposit account interest | 543 | 543 | 496 | |||
| 52,503 | 16,098 | 68,601 | 82,765 | |||
| INVESTMKNT MANAGEMENT | COSTS | |||||
| 2020 | 2019 | |||||
| Unrestricted | Restricted | Total | Total | |||
| Funds | ftmds | Funds | Funds | |||
| Portfolio management | 9,792 | 2,843 | 12,635 | 12,428 | ||
| 7. | CHARITABLE ACTIVITIES COSTS | |||||
| Direct costs | Totals | |||||
| Education grants | 307,876 | 307,876 | ||||
| Studentloans | ||||||
| School equipment | 27,703 | 27,703 | ||||
| Governance costs (note 8) |
5,149 | 5,149 | ||||
| 340,728 | 340,728 |
| 2020 | 2019 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | Funds | Funds | |||
| f. | ||||||
| Accountancy | 3,120 | 3,120 | 3,000 | |||
| Administrative | cost | 109 | 109 | 165 | ||
| Auditors' | remuneration | 1,920 | 1,920 | 1,980 | ||
| 5,149 | 5,149 | 5,145 | ||||
| NET INCOME | ||||||
| Net income is stated alter charging/(crediting): | ||||||
| 2020 | 2019 | |||||
| f. | ||||||
| Auditors' | remuneration | 1,920 | 1,980 |
| Listed | |
|---|---|
| investments | |
| MARKET VALUE | |
| At 1stAugust 2019 | 2,720,308 |
| Additions | 692,879 |
| Disposals | (709,486) |
| Revaluations | ~127,028) |
| At 31stJuly 2020 | 2,576,673 |
| NET BOOKVALUE | |
| At 31stJuly 2020 | 2,576,673 |
| At 31stJuly 2019 | 2,720,308 |
| Unrestricted | Restricted | Restricted | |||||
|---|---|---|---|---|---|---|---|
| Listed invesnnents | Total funds | funds | funds | funds | |||
| Griffith | |||||||
| General fund |
Chipp Bequest | Bequest | |||||
| f. | |||||||
| Market value | at beginning | of | the year | 2,720,308 | 2,091,152 | 621,699 | 7,457 |
| Acquisitions | at cost | 692,879 | 410,837 | 282,042 | |||
| Disposal cost at carrying value Net uurealised gains/(losses) on revaluation |
(709,486) ~727,028 |
(402,187) ~82940 |
(299,842) ~44,088 |
(7,457) | |||
| Market value | at end ofyear | 2,576,673 | 2,016,862 | 559,811 | |||
| Cost at year end | 2298,749 | 1,764,171 | 534,578 | ||||
| DEBTORS: | AMOUNTS | FALLING DUE | WITHIN ONE | YEAR | |||
| 2020 | 2019 | ||||||
| Tsx | 4,550 | 4,896 | |||||
| 4,550 | 4,896 |
| 2020 | 2019 | ||||||
|---|---|---|---|---|---|---|---|
| Accruals | 204,469 | 5,970 | |||||
| 14. | MOVEMENT IN FUNDS | ||||||
| Net movement | Transfers | ||||||
| At 1.8.19 | in funds | between funds | At 31.7.20 | ||||
| 6 | f. | ||||||
| Unrestricted | funds | ||||||
| General fund | 2,195,700 | (274,139) | 1,921,561 | ||||
| Restricted | funds | ||||||
| Chipp fund | 685,146 | (38,729) | 646,417 | ||||
| Gtiftith | 175,840 | 175,840 | |||||
| 860,986 | ~38,729) | 822,257 | |||||
| TOTAL FUNDS | 3,056,686 | ~312,868) | 2,743,818 |
| At 1.8.18 Net movement | At 1.8.18 Net movement | Transfer | At 31.7.19 | ||
|---|---|---|---|---|---|
| in funds | between funds | ||||
| Unrestricted | funds | ||||
| General fund | 2,106,623 | 89,077 | 2,195,700 | ||
| Restricted funds | |||||
| Chipp fund | 694,285 | (9,139) | 685,146 | ||
| Griffith | 187,005 | ~11,165) | 175,840 | ||
| 881,290 | (20,304) | 860,986 | |||
| TOTAL FUNDS | 2,987,913 | 68,773 | 3,056,686 |
| Accumulat | ed unspent income in the above Funds is |
: | |
|---|---|---|---|
| Ch pp | Griffith | ||
| At beginning ofyear | 47,067 | 69,396 | |
| Movement | in year | 13,255 | |
| At end of | year | 60,322 | 69,396 |
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2020 | |||
| 8 | |||||
| Inveshnents | 2,016,862 | 559,811 | 2,576,673 | ||
| Current | assets | 109,168 | 262,446 | 371,614 | |
| Creditors | less than | 1 year | (204,469) | (204,469) | |
| Net assets | 1,921,56] | 822,257 | 2,743,818 |
| 2019 | 2018 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total funds | Total funds | |||
| funds | funds | |||||
| Notes | ||||||
| INCOME FROM: | ||||||
| Donations | 119,244 | 119,244 | 104,973 | |||
| Investments | 59,796 | 22,969 | 82,765 | 85,093 | ||
| Total income | 179,040 | 22,969 | 202,009 | 190,066 | ||
| EXPENDITURE ON: | ||||||
| Investment management |
costs | 9,524 | 2,904 | 12,428 | 12,849 | |
| Charitable activities |
127,790 | 127,790 | 136,852 | |||
| Total expenditure | 137,314 | 2,904 | 140,218 | 149,701 | ||
| Net gains/losses on investments |
47,351 | (40,369) | 6,982 | 56,158 | ||
| NKT INCOME | 89,077 | (20,304) | 68,773 | 96,523 | ||
| RECONCILIATION | OF FUNDS | |||||
| Total funds brought forward | 2,106,623 | 881,290 | 2,987,913 | 2,891,390 | ||
| TOTAL FUNDS CARRIED FORWARD | 2,195,700 | 860,986 | 3,056,686 | 2,987,913 |