| Page | ||
|---|---|---|
| Report ofthe Trustees | 1 to4 | |
| Report ofthe Independent Auditors |
5 to 7 | |
| Statement ofFinancial | Activities | |
| Balance Sheet | 9to 10 | |
| Notes to the Financial | Statements | 11 to 17 |
| Detailed Statement of | Financial Activities 2020 | 18 |
| FOR THK YEAR END | ED 31STJULY 2021 | |||||
|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||
| Unrestricted | Restricted | Total funds | Total funds | |||
| funds | funds | |||||
| Notes | I | |||||
| INCOME FROM: Donations Investments |
113,685 46,455 |
13,586 | 113,685 60,041 |
106,375 ~68 601 |
||
| Total income | 160,140 | 13,586 | 173,726 | 174,976 | ||
| EXPENDITURE ON: Investment management Charitable activities |
costs | 10,370 559,495 |
2,930 | 13,300 559,495 |
12,635 340,728 |
|
| Total expenditure | 569,865 | 2,930 | 572,795 | 353,363 | ||
| Net gains/losses on investments |
402,140 | 89,391 | 491,531 | (134,481) | ||
| NET INCOME | (7,585) | 100,047 | 92,462 | (312,868) | ||
| RECONCILIATION | OF FUNDS | |||||
| Total funds brought forward | 1,921,561 | 822,257 | 2.743,818 | 3,056,686 | ||
| TOTAL FUNDS CARRIED FORWARD | ~f1,913976 | 6922,304 | 62,836,280 | 82,743,818 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| Total funds | Total funds | |||
| Notes | ||||
| FIXEDASSETS | ||||
| Investments | 2,817,277 | 2,576,673 | ||
| CURRENT ASSETS | ||||
| Debtors Cash at bank |
12 | 4,550 64,247 |
4,550 367,064 |
|
| 68,797 | 371,614 | |||
| CREDITORS | ||||
| Amounts falling due within |
one year | 13 | (49,794) | (204,469) |
| NKT CURRENT ASSETS | 19,003 | 167,145 | ||
| TOTAL ASSETSLESSCURRENT | ||||
| LIABILITIES | 2,836,280 | 2,743,818 | ||
| NKT ASSETS | f2 836280 | $2,743,818 | ||
| FUNDS | 14 | |||
| Unrestricted funds |
1,913,976 | 1,921,561 | ||
| Restricted funds |
||||
| Chipp fund Griffith |
746,464 175,840 |
646,417 175,840 |
||
| 922,304 | 822,257 | |||
| TOTAL FUNDS | g2,836,280 | f2,743,818 |
| 4. | DONATIONS | DONATIONS | |||||
|---|---|---|---|---|---|---|---|
| 2021 | 2020 | ||||||
| Unrestricted | Restricted | Total | Total | ||||
| funds | Funds | Funds | Funds | ||||
| f | |||||||
| Loan repayments | |||||||
| Parental | and other donations | 113,865 | 113,865 | 106,375 | |||
| 113,865 | 113,865 | 106375 | |||||
| 5. | INVESTMENT INCOME | ||||||
| 2021 | 2020 | ||||||
| Unrestricted | Restricted | Total | Total | ||||
| Funds | Funds | Funds | Funds | ||||
| f | f | ||||||
| Dividends lrom investments Deposit account interest |
46,438 17 |
13,586 | 60,024 17 |
68,058 543 |
|||
| 46,455 | 13,586 | 60,041 | 68,601 | ||||
| 6. | INVESTMENT MANAGEMENT | COSTS | |||||
| 2021 | 2020 | ||||||
| Unrestricted | Restricted | Total | Total | ||||
| Funds | funds | Funds | Funds | ||||
| f | f | ||||||
| Portfolio management | 10,370 | 2,930 | 13,300 | 12,635 | |||
| 7. | CHARITABLE ACTIVITIES COSTS |
| Direct costs | Totals | |
|---|---|---|
| Education grants LAET grants School equipment |
536,848 17,324 |
f, 536,848 17,324 |
| Governance costs (note 8) |
5,323 | 5,323 |
| 559,495 | 559,495 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | Funds | Funds | |||
| f, | I | |||||
| Accountancy | 3,180 | 3,180 | 3,120 | |||
| Administrative | cost | 103 | 103 | 109 | ||
| Auditors' | remuneration | 2,040 | 2,040 | 1,920 | ||
| 5,323 | 5,323 | 5,149 |
| Net income is stated after charging/(crediting): | Net income is stated after charging/(crediting): | ||
|---|---|---|---|
| 2021 | 2020 | ||
| 6 | f. | ||
| Auditors' | remuneration | 2,040 | 1,920 |
| FIXEDASSETINVESTMKNTS | |
|---|---|
| Listed | |
| investments | |
| MARKET VALUE | |
| At 1stAugust 2020 | 2,576,673 |
| Additions | 241,347 |
| Disposals | (401,451) |
| Revaluations | 400)708 |
| At 31stJuly 2021 | 2,817,277 |
| NET BOOK VALUE | |
| At 31stJuly 2021 | 2,817,277 |
| At 31stJuly 2020 | 2,576,673 |
| Unrestricted | Restricted | Restricted | |||||
|---|---|---|---|---|---|---|---|
| Listed investments | Total funds | funds | funds | funds | |||
| Griffith | |||||||
| General fund |
Chipp Bequest | Bequest | |||||
| Market value | at beginning | ofthe year | 2,576,673 | 2,016,862 | 559,811 | ||
| Acquisitions | at cost | 241,347 | 178,486 | 62,861 | |||
| Disposal cost Net unrealised |
at carrying value gains/(losses) on revaluation |
(401,451) 400 708 |
(348,456) 314,003 |
(52,995) 86705 |
|||
| Market value | at end ofyear | 2817277 | 2169895 | 656582 | |||
| Cost at year end | 2,165,540 | 1,631,987 | 533,553 |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| Accruals | 49,794 | 204469 | |||||
| MOVEMENT IN FUNDS | |||||||
| Net movement | Transfers | ||||||
| At 1.8.20 | in funds | between | funds | At 31.7.21 | |||
| E | |||||||
| Unrestricted General fund |
funds | 1921,561 | ~7,585) | 1,913,976 | |||
| Restricted funds | |||||||
| Chipp fund Griffith |
646,417 175,840 |
100,047 | 746,464 175840 |
||||
| 822,257 | 100,047 | 922,304 | |||||
| TOTAL | FUNDS | 2,743,818 | 92,462 | ~2836,280 |
| At 1.8.19 Net movement | At 1.8.19 Net movement | Transfer | Transfer | At 31.7.20 | ||
|---|---|---|---|---|---|---|
| in funds | between | funds | ||||
| f. | ||||||
| Unrestricted | funds | |||||
| General fund | 2,195,700 | (274,139) | 1,921,561 | |||
| Restricted funds | ||||||
| Chipp fund | 685,146 | (38,729) | 646,417 | |||
| Griffith | 175,840 | 175,840 | ||||
| 860,986 | (38,729) | 822,257 | ||||
| TOTAL FUNDS | 3,056,686 | ~312868) | 2,743,818 |
| Chipp | Griffit | ||
|---|---|---|---|
| At beginning ofyear | 60,322 | 69,396 | |
| Movement | in year | 13,586 | |
| At end of | year | 73,908 | 69,396 |
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2021 | |||
| f | f | f | |||
| Investments | 2,160,895 | 656,382 | 2,817,277 | ||
| Current | assets | (197,125) | 265,922 | 68,797 | |
| Creditors | less than | 1 year | (49,794) | (49,794) | |
| Net assets | 1,913,976 | 922,304 | 2,836,280 |
| 2020 | 2019 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total funds | Total funds | |||
| funds | funds | |||||
| Notes | f. | |||||
| INCOME FROM: | ||||||
| Donations Investments |
106,375 52,503 |
16,098 | 106,375 68,601 |
119,244 ~82 765 |
||
| Total income | 158,878 | 16,098 | 174,976 | 202,009 | ||
| EXPENDITURE ON: | ||||||
| Investment management |
costs | 6 | 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 FOR3YVARD | 1,921,561 | 822,257 | 2,743,818 | 3,056,686 |