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|---|---|---|---|---|---|
|Reference and Administrative||Details ofthe Foundation,|its Trustees|and Advisers||
|Trustees'
Report|||||2-5|
|Independent
Auditors'|Report|on the Financial Statements|||6-9|
|Statement
of Financial|Activities||||10|
|Balance Sheet||||||
|Statement
of Cash Flows|||||12|
|Notes to the Financial|Statements||||13 —25|
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||||Unrestricted|Endowment|Total|Tntni|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
||||2023|2023|Z023|2022|
|||Nate|E|E||6|
|Income and endowments|from:||||||
|Investments|||260,442||260,442|262,711|
|Other income|||366,298||366,298||
|Total income end endowments|||626,740||626,740|262,711|
|Expenditure
on:|||||||
|Investment
management|costs|5||11,024|11,024|6.142|
|Charitable
activities||7|765,636||765,636|847,813|
|Total expenditure|||765,636|11,024|776,660|853,955|
|Net expenditure
before net|||||||
|gams/(losses)
on investments|||038,896)|(11,024)|(149,920)|(591,244)|
|Not gains/(losses)
on investments||||979,372|979,372|(3,140,400)|
|Net (expenditure)/income|||035,896)|968,348|829,452|(3,740,653)|
|Transfers
between
funds|||138,896|(138,896)|||
|Net movement
in funds before other|||||||
|recognised
gains/(losses)||||829,452|829,452|(3,740,653)|
|Other recognised
gains/(losses):|||||||
|Other losses||||(56,273)|(56,273)|(248,701J|
|Net movement
in funds||||773,179|773,17'9|(3,989,354)|
|Reconciliation
of funds:
Total funda
brought
forward||||M,4$8,27$|16,48$,27$20,477,682||
|Net mavement
in funds||||773,179|773.179|(3,989,354)|
|Total funds carried forward||||17,261,457|17,261,457|16,4S8,278|
##
|||||||BALANCE SHEET|BALANCE SHEET||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||AS AT 28 FEBRUARY 2023|||||
|||||||||7073||7077|
|||||||Note||8||6|
|Fixed assets|||||||||||
|Investments||||||10||12,822,417||14,665,624|
|||||||||12,822,417||14,665,624|
|Current assets|||||||||||
|Cash at bank|and|in|hand||||4,465,551||1,858,677||
||||||||4,465,551||1,858,677||
|Creditors: amounts|||falling|due within|one||||||
|year||||||11|(26,511)||(36,023)||
|Not current oeecte||||||||4,439,040||4822, 654|
|Total assets|less current|||liabilities||||17,261,457||16,488,278|
|Total net assets||||||||17,261,457||16,488,778|
|Chadty funds|||||||||||
|Endowment|funds|||||13||17,261,457||16,488,278|
|Total funds||||||||17,261,457||16,4S8,278|
##
||||STATEMENT OF CASH FLOWS|STATEMENT OF CASH FLOWS|STATEMENT OF CASH FLOWS|||
|---|---|---|---|---|---|---|---|
||FOR THE YEAR ENDED 28 FEBRUARY 2023|||||||
|||||||2023|2022|
||||||||6|
|Cash flows from operating|activities|||||||
|Net cash used in operating|activities|||||(582,003)|(376,019)|
|Cash flows from investing|activities|||||||
|Proceeds from sale of investments||||||10,776,740|16,79a,264|
|Purchase
of investments||||||(7,95la,l69)|(17,144,7051|
|Net cash provided
by investing
activities||||||2,822,579|1,649,559|
|Cash flows from financing|activities|||||||
|Net cash provided
by financing
activities||||||||
|Change
in cash and cash|equivalents|in|the|year||2,240,576|1,273,540|
|Cash and cash equivalents|at the beginning|||nf the year||1,858,677|689,985|
|Change
in cash and cash|equivalents|due to exchange|||rate movemenis|366,293|(1068oa)|
|Cash and cash equivalents|at the end|of|the year|||4,465,551|1,858,677|
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|3.|Investment|Investment|Income|||||
|---|---|---|---|---|---|---|---|
||||||Unrestricted|Total|Total|
||||||funds|funds|funds|
||||||2023|2023|2022|
||||||8|g|6|
||Dividend|income|||227.328|227,328|259,726|
||Bank interest receivable||||33,114|33,114|2,983|
||||||260,442|260,442|262,711|
||Total 2022||||262,711|Z6Z,711||
|4.|Other incoming resources|||||||
||||||Unrestricted|Total|Total|
||||||funds|funds|funds|
||||||2023|2023|2022|
||||||0||6|
||Exchange||gains||366,298|366,298||
|6.|Investment||management|costs||||
|||||Endowment|Total|Terai|
|---|---|---|---|---|---|---|
|||||funds|funds|funds|
|||||2023|2023|ZOZZ|
|||||E|8|6|
|Investment|management||fees|11,024|11,024|5,924|
|Research|investment|fees||||216|
|||||11,024|11,024|6,14Z|
|Total 2022||||6,142|6,142||
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||Grants to|Total|Tatet|
|---|---|---|---|
||Institutions|funds|funds|
||2023|2023|2022|
|||k|6|
|Grants|693,803|693,803|681,648|
|Toto/2022|681,648|6S1,648||
|The Foundation
has made t|he fo|llowing
materia|l grants to institutions|during
the year:||
|---|---|---|---|---|---|
|||||2023|2022|
|||||8|6|
|Name of institution||||||
|Abingdon
ttridge||||10,000||
|Chase Africa|||||15,000|
|Children
Heard and Seen||||25,000||
|Garsington
Opera||||50,000|50,000|
|Karta Initiative||||100,000|200,000|
|Keble College, Oxford||||149,250|258,con|
|LIFE beat||||10,000||
|Lincoln College, Oxford||||156,750|250,400|
|One Small Thing (Hope Street)||||10,000||
|Open University
(Sanctuary|Scholarships)|||15,000||
|Reuben
College, Oxford||||30,000|tO.000|
|Somerville
College, Oxford||||6,000||
|Turquoise
Mountain|||||5,000|
|Tutor the Nation||||50,000|50,000|
|United World Schools||||35,352|45,097|
|University
of Oxford Department||of Continuing|Education|15,000|25,OOO|
|University
of Oxford Psychiatry||Department||15,000|52,500|
|Veernt Foundation||||11,026|9,092.|
|||||691,378|680,588|
|Other grant-" to in titutions|of less than E1,000|||2,425|2,060|
|||||693,803|6S1,648|
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||||Grant||||
|---|---|---|---|---|---|---|
||||funding
of|Support|Total|Total|
||||activities|costs|funds|funds|
||||2023f|2023f|2023f|2022
6|
|Grant|making||693.803|38,I109|731,812|821,928|
|Governance||costs||33,824|33,824|25,885|
||||693,803|71,833|765,636|847,813|
|Total|2022||681,648|1bb,1bb|847,813||
|||Charitable|Governance|Total|Total|
|---|---|---|---|---|---|
|||activities|COSLS|funds|funds|
|||2023
E|2023f|2023
E|2022
6|
|Accountancy|fees|3,501|3,501|7,002|8,478|
|Audit fees|||6,900|6,900|5,418|
|Consultancy|costs|25,496||25,496|24,348|
|Professional|casts|7,807|23,423|31,230|21,637|
|Bank charges|and interest|1,205||1,205|1,486|
|Exchange losses|||||104,848|
|||38,009|33,824|71,833|166,165|
|Total 2022||140,280|25,885|166,165||
##
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||||||2023|2022|
|---|---|---|---|---|---|---|
|||||||E|
|Fees payable|to the Foundation's|auditor||for the audit of the Foundation's|||
|annual
accounts|||||6,900||
|Fees payable|to the Foundation's|auditor||in respect of:|||
|All non-audit|services not included||above||2,700||
|Fees payable|to the Foundation's|previous|auditoi|in|i espert of.||
|---|---|---|---|---|---|---|
|The auditing|of the Foundation's|annual
accounts||||5,418|
|All non-audit|services not included
above|||||4,470|
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|||||Asset||
|---|---|---|---|---|---|
|||Equity|Alternative|allocation||
|||investments|investments|funds|Total|
|||E|K|0|E|
|Cost or valuation||||||
|At 1 March 2022||10,709,415|3,797,802|158,407|14,(i65,624|
|Additiono||7,964069|||7,964,169|
|Disoosals||(10.836.134)|||(10.836.134)|
|Revaluations||903,832|133,282|1,644|1,038,758|
|At 28 February|2023|8,731,282|3,931,084|160,051|12,822,417|
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|||||||Balance at|
|---|---|---|---|---|---|---|
||Balance at I|||Transfers|Gams/|28 February|
||March 2022
8|Income
E|Expenditure
8|in/out
8|(Losses)
f|2023
0|
|Unrestricted|||||||
|funds|||||||
|General Funds||260,442|(399,338)|138,896|||
|Unallocated|||||||
|amounts||366,298|(366,298)||||
|||626,740|(765,636)|138,896|||
|Endowment|||||||
|funds|||||||
|Fndowment|||||||
|Fund|16,488,278||(11,024)|(138,896)|923,099|17,261,457|
|Total of funds|16,488,278|626,740|(776,660)||923,099|17,261,457|
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|||||||Balance at|
|---|---|---|---|---|---|---|
||Balance at|||Iransfers|Oahas/|28Iehl sary|
||1 March 2021|Income|ExpenChture|in/aut|(Lasses)|2022|
||E|E|E|E|E|E|
|Unrestricted|||||||
|funds|||||||
|General Funds||202,711|(847,813)|582102|||
|Endowment|||||||
|funds|||||||
|Endowment|||||||
|Funds|20,477,632||(6,142)|(585,102)|(3,398,110)|16,488,278|
|Total of funds|20,477,632|262,711|(853,955)||(3,39S,110)|16,488,278|
|Analysis|of net asset|s between
funds - current year|||
|---|---|---|---|---|
||||Endowment|Total|
||||funds|funds|
||||2023f|2023f|
|Fixed asset investmenta|||12,822,417|12,822,417|
|Current|assets||4,465,551|4.465.551|
|Creditors|due within|one year|(26,511)|(26,511)|
|1'otal|||17,261,457|17,261,457|
##
##
|Analysis
of net asse|ts between
funds - prior year|||
|---|---|---|---|
|||Endowment|Total|
|||funds|funds|
|||2022|2022|
|||E|E|
|Fixed asset investments||14665624|14,665,624|
|Current assets||1,858,677|1,858,677|
|Creditors due within|one year|(36,023)|(36,023)|
|Total||16,488,278|16,488,278|
##
||||||||||7073|7077|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||E|
|Net
income/expenditure|for||the|year|(as|per|Statement|of Financial|||
|Activities)|||||||||829,452|(3,740,653)|
|Adjustments
for:|||||||||||
|Decrease
in debtors||||||||||375,632|
|Decrease
in creditors|||||||||(9,512)|(16,553)|
|(Gains)/tosses
on revaluation||of investments|||||||(979,372)|3,149,408|
|Other gains/(losses)|||||||||(56,273)|(248,701)|
|Foreign exchange (gains)/losses|||recognised|||in the|SOFA||(366,298)|104,848|
|Net cash used in operating|activities||||||||(582,003)|(376,019)|
|Analysis
of cash and cash|equivalents||||||||||
||||||||||2023|7022|
|Cash in hand|||||||||4,465,551|1,858,677|
|Total cash and cash equivalents|||||||||4,465.551|1,858,677|
##
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|Net gains/(l|asses)
on i|nve|stment|s||||
|---|---|---|---|---|---|---|---|
|||||||2023|1022f|
|Foreign exchange gains/gasses)||||on Investments|held at year end|598,366|165,763|
|(Loss)/gain|on foreign|exchange||forward contracts||(56,273)|(748,701)|
|(Loss)/gain|on revaluation||of investments|||660,392|(2,403,578)|
|(Loss)/gain|on disposal|of|investments|||(59,386)|(911,614)|
|||||||923,099|(3,308,110)|