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|Governors'
report|||
|Strategic Report|||
|Independent|Auditors'
Report|13|
|Consolidated|Statement of Financial Activities|15|
|Consolidated|and Company
Balance Sheets|16|
|Consolidated|Cash Flow Statement|17|
|Notes to the|Financial Statements|18|
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||||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|---|
||||||funds|funds|funds|funds|
|||||Note|2020
f|2020f|2020
f|2019
f|
|INCOME FROM:|||||||||
|Charitable
activities:|||||||||
|School fees receivable||||7|17,666,345||17,666,345|17,782,533|
|Other educational|income|||7|217,507||217,507|179,805|
|Other trading
activities:|||||||||
|Trading company|income|||3|41,662||41,662|90,369|
|Other trading
income||||5|55,173|~|55,173|80,889|
|Investment
income||||6|8,309|19,057|27,366|41,114|
|Donations
and grants||||4|523,830|202,348|726,178|608,011|
|TOTAL INCOME|||||18,512,826|221,405|18,734,231|18,782,721|
|EXPENDITURE ON:|||||||||
|Charitable
activities||||8|18,047,525|247,677|18,295,202|17,464,811|
|Raising funds:|||||||||
|Trading expenses and||other costs|||63,524||63,524|81,049|
|Trading company|expenditure||||64,480||64,480|85,093|
|Investment
manager's||fees||||5,190|5,190|5,808|
|TOTAL EXPENDITURE|||||18,175,529|252,867|18,428,396|17,636,761|
|NET INCOME BEFORE||INVESTMENT|||||||
|GAINS &LOSSES|||||337,297|(31,462)|305,835|1,145,960|
|Unrealised
investment|(loss)/gain|||||(17,287)|(17,287)|11,169|
|Realised investment|(loss)/gain|||||(4,370)|(4,370)|5,202|
|NET MOVEMENT
IN|FUNDS FOR THE||||||||
|YEAR|||||337,297|(53,119)|284,178|1,162,331|
|Total funds at 1 September 2019|||||17,243,374|1,948,870|19,192,244|18,029,913|
|TOTAL FUNDS AT 31AUGUST 2020|||||17,580,671|1,895,751|19,476,422|19,192,244|
|All activities relate to|continuing||operations.||||||
##
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|||2020|2020|2019|2019|
|---|---|---|---|---|---|
|||Group|Company|Group|Company|
||Note|E|E||E|
|FIXEDASSETS||||||
|Tangible assets|12|19,918,233|19,918,233|19,799,743|19,799,743|
|Investments|13|808,411|808,511|728,060|728,160|
|||20,726,644|20,726,744|20,527,803|20,527,903|
|CURRENT ASSETS||||||
|Stocks|14|34,719|34,719|42,319|42,319|
|Debtors|15|838,349|879,457|675,267|725,123|
|Bank||1,798,781|1,776,245|2,609,318|2,531,749|
|||2,671,849|2,690,421|3,326,904|3,299,191|
|CREDITORS: amounts|falling due within|||||
|one year|16|(2,970,004)|(2,966,367)|(3,255,610)|(3,225,316)|
|NET CURRENT (LIABILITIES)/ASSETS||(298,155)|(275,946)|71,294|70,875|
|TOTAL ASSETS LESS|CURRENT LIABILITIES|20,428,489|20,450,798|20,599,097|20,598,778|
|CREDITORS: amounts|falling due atter|||||
|more than one year|17|(952,067)|(952,067)|(1,406,853)|(1,406,853)|
|NET ASSETS||19,476,422|19,498,731|19,192,244|19,191,925|
|CHARITYFUNDS||||||
|Restricted funds|18|1,895,751|1,895,751|1,948,870|1,955,870|
|Unrestricted
funds|18|17,580,671|17,602,980|17,243,374|17,233,055|
|||19,476,422|19,498,731|19,192,244|19,191,925|
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||||||2020|2019|
|---|---|---|---|---|---|---|
|||||Note|K||
|Net cash flow from operating||activities||20|818,593|2,164,652|
|Cash flows from investing|activities|||21|(1,130,972)|(1,372,661)|
|Net cash flow from financing||activities||21|(498,157)|(560,007)|
|(DECREASE)/INCREASE|IN CASH IN THE||YEAR||(810,536)|232,164|
|Cash and cash equivalents||at the beginning|ofthe year||2,609,318|2,377,134|
|Cash and cash equivalents||at the end ofthe|year||1,798,782|2,609,316|
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|A summary
ofthe f|inancia|l
activities un|dertaken
by the charity|is set out below:||
|---|---|---|---|---|---|
|||||2020|2019|
|||||E|E|
|Gross income||||18,692,379|18,692,162|
|Costs ofgenerating
funds
Expenditure
on charitable||activities||(68,714)
(18,295,202)|(86,857)
(17,464,811)|
|Realised and unrealised||(losses)/gains|on investments|(21,657)|16,371|
|Net movement
in funds||||306,806|1,156,865|
|Total funds brought|forward|||19,191,925|18,035,060|
|Total funds carried|forward|||19,498,731|19,191,925|
|Represented
by:||||||
|Restricted funds||||1,905,751|1,958,870|
|Unrestricted
funds||||17,592,980|17,233,055|
|Total||||19,498,731|19,191,925|
##
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##
|entire share capital off100 or|dinary
shares|o|ff1 each. A|summary
ofthe t|rading
results
is s|hown
below:|
|---|---|---|---|---|---|---|
||||||2020f|2019f|
|Turnover —external|||||41,662|90,369|
|Cost of sales and administration|costs - Bancroft's School||||||
||-external||||(64,480)|(85,093)|
|Interest receivable|||||190|189|
|Net profit/(loss)|||||(22,628)|5,465|
|The assets and liabilities of|the subsidiary||were:||||
|Current assets|||||39,273|79,430|
|Current
liabilities|||||(61,482)|(79,011)|
|Total net (liabilities)/assets|||||(22,209)|419|
|Aggregate
share capital and reserves|||||(22,209)|419|
|DONATION
AND GRANT INCOME||Restricted||Unrestricted|Total|Total|
||||funds|funds|funds|funds|
||||2020f|2020f|2020f|2019f|
|Bancroft's Foundation|||134,253||134,253|94,743|
|Drapers'
Charitable
Fund|||50,000||50,000|50,000|
|Peter Salsbury Legacy||||||250,000|
|Francis Bancroft Trust||||170,867|170,867|173,219|
|Old Bancroftian
Association|||||||
|(Vl Form Scholarship
Trust )|||18,095||18,095|18,123|
|Government
grant: CJRS||||333,714|333,714||
|Other donations||||19,249|19,249|21,926|
|Voluntary
income|||202,348|523,830|726,178|608,011|
##
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|VOLUNTARY INCOME (continued)|Restricted|Unrestricted|Total|
|---|---|---|---|
||funds|funds|funds|
||2019
8|2019
E|2019f|
|Bancroft's Foundation|94,743||94,743|
|Drapers'
Charitable
Fund|50,000||50,000|
|Peter Salsbury
Legacy|250,000||250,000|
|Francis BancroR Trust||173,219|173,219|
|Old BancroRian Association||||
|(Vl Form Scholarship
Trust )
Other donations|18,123|21,926|18,123
21,926|
|Voluntary
income|412,866|195,145|608,011|
|OTHER TRADING INCOME||||
|Total|Total|
|---|---|
|funds|funds|
|2020|2019|
|E|5|
|55,173|80,889|
##
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##
|||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|
|||funds|funds|funds|funds|
|||2020|2020
5|2020
6|2019f|
|Investment|income|19,057||19,057|25,092|
|Interest receivable|||8,309|8,309|16,022|
|||19,057|8,309|27,366|41,114|
|INVESTMENT INCOME (2019)||||||
|||Restricted|Unrestricted|Total||
|||funds|funds|funds||
|||2019|2019|2019||
|||F|f|8||
|Investment|income|25,092||25,092||
|Interest receivable||6,025|9,997|16,022||
|||31,117|9,997|41,114||
##
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##
|INCOME FROM CHARITABLE ACTIVITIES|INCOME FROM CHARITABLE ACTIVITIES|INCOME FROM CHARITABLE ACTIVITIES|INCOME FROM CHARITABLE ACTIVITIES||Unrestricted|Unrestricted|Unrestricted|
|---|---|---|---|---|---|---|---|
|||||||Funds|Funds|
|||||||2020f|2019
5|
|School Fees Receivable||||||||
|Gross fees||||||19,420,298|19,560,404|
|Less: Total scholarships||and other allowances||||(1,960,175)|(2,039,832)|
|Add: Bursaries funded|from —restricted||funds|||206,222|261,981|
|||||||17,666,345|17,782,533|
|Academic scholarships||||||1,474,075|1,525,918|
|Other Allowances||||||467,691|454,842|
|||||||1,941,766|1,980,760|
|Other educational
income||||||||
|Entrance and registration||fees||||79,079|49,550|
|Rents and lettings||||||24,539|35,281|
|Other incoming resources||||||113,889|94,974|
|||||||217,507|179,805|
|EXPENDITURE BYCHARITABLE||||Restricted|Unrestricted|Total|Total|
|ACTIVITY||||funds|funds|funds|funds|
|||||2020|2020|2020|2019|
||||||6|8||
|SUMMARY BYFUND|TYPE|||||||
|Teaching|||||11,572,532|11,572,532|10,687,782|
|Welfare|||||1,111,032|1,111,032|1,261,118|
|Premises|||||3,219,572|3,219,572|3,212,170|
|Support and administration|||||2,112,175|2,112,175|1,987,129|
|Grants and awards||||247,677||247,677|256,153|
|Bank loan interest
&bank||charges|||32,214|32,214|60,459|
|||||247,677|18,047,525|18,295,202|17,454,811|
##
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|SUMMARY BYEXPENDITUR|E TYPE|||||
|---|---|---|---|---|---|
||Staff costs|Depreciation|Other costs|Total|Total|
||2020
f|2020
f|2020
f|2020f|2019f|
|Teaching
Welfare|10,494,680
547,518||1,077,852
563,514|11,572,532
1,111,032|10,687,782
1,261,118|
|Premises|563,796|900,265|1,755,511|3,219,572|3,212,170|
|Support and administration
Grants and awards|1,381,703||725,472
247,677|2,107,175
247,677|1,987,129
256,153|
|Bank loan interest|||37,214|37,214|60,459|
||12,987,697|900,265|4,407,240|18,295,202|17,464,811|
|||Restricted|Unrestricted|Total||
|||funds|funds|funds||
|||2019
f|2019
f|2019f||
|SUMMARY BYFUND TYPE|(2019)|||||
|Teaching
Welfare|||10,687,782
1,261,118|10,687,782
1,261,118||
|Premises|||3,212,170|3,212,170||
|Support and administration
Grants and awards||256,153|1,978,169|1,978,169
256,153||
|Bank loan interest|||60,459|60,459||
|||256,153|17,199,698|17,455,851||
|SUMMARY BYEXPENDITURE TYPE (2019)||||||
||Staff costs|Depreciation|Other costs|Total||
||2019
f|2019
f|2019
f|2019||
|Teaching
Welfare|9,509,961
571,360||1,177,821
689,758|10,687,782
1,261,118||
|Premises|515,693|806,938|1,889,539|3,212,170||
|Support and administration
Grants and awards|1,339,940||638,229
256,153|1,978,169
256,153||
|Bank loan interest|||60,459|50,459||
||11,936,954|806,938|4,711,959|17,455,851||
##
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##
##
##
|GOVER|NANCE
|COS|TS INCLU|DED IN SUPPORT AND AD|MINISTRATION||
|---|---|---|---|---|---|---|
||||||Total|Total|
||||||funds|funds|
||||||2020f|2019
F|
|Auditors|remuneration||(including|VAT)|||
||Audit fee||||23,500|25,620|
||Non-audit|services|||3,900|4,500|
##
##
##
|One governor has a child
in the School and paid f|ees on an arms-length
basis (2019:one)|.|
|---|---|---|
|STAFF COSTS|2020f|2019f|
|Staff costs were as follows|||
|Payroll costs were:|||
|Teaching staff|10,494,680|9,509,962|
|Non-teaching
staff|2,516,341|2,480,949|
||13,011,021|11,990,911|
|Wages and salaries|9,784,378|9,420,649|
|Social security costs|1,053,962|1,016,689|
|Other pension costs|1,874,520|1,323,832|
|Medical 6 health
Insurance|298,161|229,741|
||13,011,021|11,990,911|
##
##
##
##
|STAFF CO|STS (cont||inued)|inued)||||
|---|---|---|---|---|---|---|---|
|The average|monthly||number ofemployees||during the year was as follows:|||
|||||||2020|2019|
|||||||No,|No.|
|Teaching
Support||||||171
102|198
65|
|||||||273|263|
|The number|of higher||paid employees|was:||2020|2019|
|||||||No.|No.|
|In the band|f60,001 —f70,000|||||19|17|
|In the band|670,001 -||f80,000|||6|4|
|In the band|680,001 -||690,000|||3|3|
|In the band|f90,001 -||F100,000|||1|1|
|In the band|f100,001||—6110,000|||1|0|
|In the band|f140,001||—f150,000||||1|
|In the band|f190,001||—f200,000|||||
|||||||31|26|
|The number|of higher||paid employees|belonging||to pension schemes were as follows:||
|||||||2020|2019|
|||||||No|No.|
|Defined Benefit Scheme||||||28|23|
|Defined Contribution||Scheme||||3|3|
|Total||||||31|26|
##
##
##
|12.|TANGIBLE FIXEDASSETS|||||
|---|---|---|---|---|---|
|||Freehold|Motor|Fixtures 6||
||GROUP|propertyf|vehicles
6|fittings
6|Total
8|
||COST|||||
||At 1 September 2019|25,134,445|106,969|1,997,458|27,238,872|
||Additions|963,201||55,553|1,018,754|
||At 31 August 2020|26,097,646|106,969|2,053,011|28,257,626|
||DEPRECIATION|||||
||At 1 September 2019|6,115,367|53,556|1,270,206|7,439,129|
||Charge for the year|667,003|19,537|213,724|900,264|
||At 31 August 2020|6,782,370|73,093|1,483,930|8,339,393|
||NET BOOK VALUE|||||
||At 31 August 2020|19,315,276|33,876|569,081|19,918,233|
||At 31 August 2019|19,019,078|53,413|727,252|19,799,743|
||COMPANY|||||
||COST|||||
||At 1 September 2019|25,134,445|106,969|1,997,458|27,238,872|
||Additions|963,201||55,553|1,018,754|
||At 31 August 2020|26,097,646|106,969|2,053,011|28,257,626|
||DEPRECIATION|||||
||At 1 September 2019|6,115,367|53,556|1,270,206|7,439,129|
||Charge for the year|667,003|19,537|213,724|900,264|
||At 31August 2020|6,782,370|73,093|1,483,930|8,339,393|
||NET BOOK VALUE|||||
||At 31 August 2020|19,315,276|33,876|569,081|19,918,233|
||At 31 August 2019|19,019,078|53,413|727,252|19,799,743|
##
##
|13.|INVESTMENTS|INVESTMENTS|GROUP||COMPANY||
|---|---|---|---|---|---|---|
||||2020
f|2019
f|2020
f|2019
f|
||At 1 September 2019||728,060|698,497|728,160|698,597|
||Additions||290,427|226,722|290,427|226,722|
||Disposals
(Loss)/gain||(192,339)
(21,656)|(214,255)
16,367|(192,339)
(21,656)|(214,255)
16,367|
||||804,492|727,331|804,492|727,331|
||Movement|in cash held within|||||
||porffolio||3,919|729|3,919|729|
||At 31August 2020||808,411|726,060|808,511|728,160|
||Historic cost||757,710|636,226|757,710|638,226|
||At market|value|||||
||Listed investments||808,411|726,060|808,411|728,060|
||Investment|in Bancroft's|||||
||Enterprises|Limited|||100|100|
||||808,411|728,060|808,511|728,160|
|14.|STOCKS||GROUP||COMPANY||
||||2020
f|2019
f|2020
f|2019
f|
||Stocks and|finished goods for resale|34,719|42,319|34,719|42,319|
##
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||||||||
|---|---|---|---|---|---|---|
|15.|DEBTORS||GROUP||COMPANY||
||||2020|2019|2020|2019|
||||6|6|6|F|
||Fee debtors (less bad debt provision)||518,587|209,613|518,587|209,613|
||Amounts
owed by subsidiary||||57,846|51,717|
||Other debtors||319,762|465,654|303,024|463,793|
||||838,349|675,267|879,457|725,123|
|16.|CREDITORS: amounts|falling due|GROUP||COMPANY||
||within one year||2020|2019|2020|2019|
||||6||||
||Bank loans||549,556|500,000|549,556|500,000|
||Bank overdraft||||||
||Payments
received on|account|1,418,812|1,302,938|1,418,812|1,302,938|
||Trade creditors||1,692|526,727|1,692|513,549|
||Social security and other taxes|||2,917|||
||Other creditors||322,137|323,643|322,137|323,643|
||Accruals and deferred|income|677,807|599,385|674,170|588,186|
||||2,970,004|3,255,610|2,966,367|3,228,316|
||||GROUP||COMPANY||
|17.|CREDITORS: amounts|falling|||||
||due after more than one year||2020|2019
6|2020|2019
f|
||Bank loans||486,449|1,034,162|486,449|1,034,162|
||Deposits
in advance||442,125|354,935|442,125|354,935|
||Fees in advance||23,493|17,756|23,493|17,756|
||||952,067|1,406,853|952,067|1,406,853|
##
##
##
##
||||||||2020|2020|2019|
|---|---|---|---|---|---|---|---|---|---|
|||||||||8||
||Within
1 to 2 years|||||||23,493|17,756|
|||||||||23,493|17,756|
||Within
1 year|||||||17,756|34,761|
|||||||||41,249|52,517|
||The balance represents||the accrued
liability||under the contracts. The movements|||during the year were:||
||||||||2020||2019|
|||||||||6|6|
||Balance at 31 August 2019|||||||52,517|86,377|
||New contracts|||||||23,493||
|||||||||76,010|86,377|
||Amounts
utilised
in payment|||offees||||(34,761)|(33,560)|
||Balance at 31|August|2020|||||41,249|52,517|
|18.|CHARITY FUNDS - 2020|||Brought|||Investment||Carried|
|||||Forward
6|Income
f|Expenditure|gains
6||Forward
8|
||GENERAL FUNDS|||||||||
||General
Fund|||17,243,374|18,512,826|(18,175,529)|||17,580,671|
||Total Unrestricted
funds|||17,243,374|18,512,826|(18,175,529)|||17,580,671|
||RESTRICTED|FUNDS||||||||
||Bancroft's Foundation|||1,557,753|153,310|(252,867)|(21,657)||1,436,539|
||Clark Willmott legacy|||50,000|||||50,000|
||Other Bursaries|||91,117|68,095||||159,212|
||Peter Salsbury|Legacy||250,000|||||250,000|
||Total Restricted|Funds||1,948,570|221,405|(252,867)|(21,657)||1,895,751|
||Total funds|||19,192,244|18,734,231|(18,428,396)|(21,657)||19,476,422|
##
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##
##
##
|CHARITY FUNDS (continued
CHARITY FUNDS - 2019|)|||||
|---|---|---|---|---|---|
||Brought|||Investment|Carried|
||Forward
E|Income
E|Expenditure
E|gains
E|Forward
f|
|GENERAL FUNDS||||||
|General
Fund|16,279,436|18,338,738|(17,374,800)||17,243,374|
|Total Unrestricted
funds|16,279,436|18,338,738|(17,374,800)||17,243,374|
|RESTRICTED FUNDS||||||
|Bancroft's Foundation|1,630,477|94,743|(183,838)|16,371|1,557,753|
|Drapers' Chantable
Fund||50,000|(50,000)|||
|Old Bancroftian
Association||||||
|(Vl Form Scholarship
Trust)||18,123|(18,123)|||
|Clark Willmott legacy|50,000||||50,000|
|Peter Salsbury
Legacy||250,000|||250,000|
|Other Bursaries|70,000|31,117|(10,000)||91,117|
|Total Restricted
Funds|1,750,477|443,983|(261,961)|16,371|1,948,870|
|Total funds|18,029,913|18,782,721|(17,636,761)|16,371|19,192,244|
##
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|ANALYSIS OF NET|ASSETS BETW|EEN FUNDS - 2020||||
|---|---|---|---|---|---|
|||Restricted|Unrestricted|Total|Total|
|||funds|funds|funds|funds|
|||2020|2020f|2020
6|2019|
|Tangible fixed assets|||19,918,233|19,918,233|19,799,743|
|Investments||808,411||808,411|728,060|
|Current assets||1,087,340|1,584,509|2,671,849|3,326,904|
|Creditors due within one year|||(2,970,004)|(2,970,004)|(3,255,610)|
|Creditors due
in more than one year|||(952,067)|(952,067)|(1,406,853)|
|||1,895,751|17,580,671|19,476,422|19,192,244|
|ANALYSIS OF NET|ASSETS BETWEEN FUNDS —2019|||||
|||Restricted|Unrestricted|Total|Total|
|||funds|funds|funds|funds|
|||2019|2019|2019|2018|
|||6|6|6|6|
|Tangible fixed assets|||19,799,743|19,799,743|19,227,482|
|Investments||728,060||728,060|698,497|
|Current assets||1,220,810|2,106,094|3,326,904|3,053,579|
|Creditors due within|one year||(3,255,610)|(3,255,610)|(3,054,268)|
|Creditors due in more than one year|||(1,406,853)|(1,406,853)|(1,895,377)|
|||1,948,870|17,243,374|19,192,244|18,029,913|
|NET CASH FLOW FROM OPERATING ACTIVITIES||||2020
K|2019f|
|Net income before revaluations||||305,835|1,145,960|
|Returns
on investments
and servicing||offinance||10,211|40,724|
|Depreciation
oftangible fixed assets||||900,264|806,936|
|(Decrease)/increase|in stocks|||7,600|(2,657)|
|Decrease/(increase)|in debtors|||(163,082)|(56,404)|
|Increase/(decrease)|in creditors|||(242,235)|212,371|
|NET CASH INFLOW FROM OPERATIONS||||818,593|2,164,852|
##
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|21.|ANALYSIS OF CASH FLOWS FOR HEADINGS NETTED IN|ANALYSIS OF CASH FLOWS FOR HEADINGS NETTED IN|2020|2019|
|---|---|---|---|---|
||CASH FLOW STATEMENT||5||
||CASH FLOW FROM INVESTING ACTIVITIES||||
||Interest received||8,309|15,387|
||Income from investments||19,057|9,705|
||Investment
management
charges
Purchase
oftangible
fixed assets
Purchase of listed investments||(5,190)
(1,018,754)
(290,427)|(5,808)
(1,379,199)
(226,722)|
||Sale of listed investments||192,339|214,255|
||Movement
in cash investment||(3,920)|(729)|
||NET CASH FLOW FROM INVESTING|ACTIVITIES|(1,098,586)|(1,372,661)|
||FINANCING||||
||Interest paid||(32,386)|(60,459)|
||Net Repayment
ofbank loans||(498,157)|(499,548)|
||NET CASH FLOW FROM FINANCING|ACTIVITIES|(530,543)|(560,007)|
##
##
##
##
##
##
##
##
|At31 August 2020the Group minimum
lease pay|At31 August 2020the Group minimum
lease pay|ments
un|der non-cancellabl|e
operating leas|es as follows:|
|---|---|---|---|---|---|
|GROUP AND COMPANY||||2020
6|2019f|
|EXPIRY DATE:||||||
|Less than
1 year
Between
1 and 5|years|||205,401
109,'269|250,265
314,670|
|25.
COMPARATIVE|STATEMENT OF FINANCIAL|ACTIVITIES||||
||||Unrestricted|Restricted|Total|
||||funds|funds|funds|
|INCOME FROM:||Note|2019f|2019
8|2019|
|Charitable
activities:||||||
|School fees receivable||8|17,782,533||17,782,533|
|Other educational
income||8|179,185||179,185|
|Other trading
activities:||||||
|Trading company||4|90,369||90,369|
|Activities for generating|funds|6|80,889||80,889|
|Investment
income||7|9,997|31,117|41,114|
|Voluntary
income||5|195,145|412,866|608,011|
|TOTAL INCOME|||18,338,738|443,983|18,782,721|
|EXPENDITURE ON:||||||
|Charitable
activities||9|17,208,658|256,153|17,464,811|
|Raising funds:||||||
|Trading expenses
and|other costs||81,049||81,049|
|Trading
company|||85,093||85,093|
|Investment
manager's|fees|||5,808|5,808|
|TOTAL EXPENDITURE|||17,374,800|261,961|17,636,761|
|NET INCOME BEFORE|INVESTMENT GAINS 8|||||
|LOSSES|||963,938|182,022|1,145,960|
|Unrealised
investment
gains||||11,169|11,169|
|Realised investment
gain/(loss)||||5,202|5,202|
|NET MOVEMENT
IN FUNDS FOR THE||||||
|YEAR|||963,938|198,393|1,162,331|
|Total funds at 1 September 2018|||16,279,436|1,750,477|18,029,913|
|TOTAL FUNDS AT 31 AUGUST 2019|||17,243,374|1,948,870|19,192,244|