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2023-08-31-accounts

Trustees Mr M R Feeny LLB (Chair to13 November 2023) Mr M R Feeny LLB (Chair to13 November 2023)
Mr H E R FitzHerbert BA(Hons) PGCE
Mr Edward Rice FRICS
Mrs Kirsten Pankhurst
Mr P RVicars MA
Mr AJCross LLB(Hons)
Mr M R Cashin
MA
Mr N P Turner (Chair from 13November 2023) (Appointed 7 November 2022)
Charity number 1068650
Auditor Xeinadin Audit Limited
2 Hilliards
Court
Chester Business Park
Chester
Cheshire
CH4 9QP
Bankers National
Westminster		 Bank Pic
2 Grange Road West
Birkenhead
Wirral
Merseyside
CH41 4DF
Solicitors DWF LLP
5St Paul's Square
Old Hall Street
Liverpool
Merseyside
L39AE
Investment advisors Rathbone
Investment		 Management
Port of Liverpool
Pier Head
Liverpool
Merseyside
L3 1NW

Page
Trustees'
report		 1-2
Statement oftrustees' responsibilities
Independent auditor's report 4-7
Statement offinancial activities
Statement offinancial position
Statement ofcash flows 10
Notes to the financial statements 11-22

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2023 2023 2022 2022 2022
Notes R R R R
Income from:
Donations
and legacies		 3 1,681,463 46,756 1,728,219 194,305 68,161 262,466
Other trading
activities		 4 2,144 15,539 17,683 1,941 25,495 27,436
Investments 5 219,118 3,791 222,909 154,913 2,203 157,116
Total income 1,902,725 66,086 1,968,811 351,159 95,859 447,018
Expenditure
on:
Raising funds 39,789 39,789 37,594 37,594
Charitable
activities		 203,705 130,911 334,616 185,920 55,750 241,670
Total expenditure 243,494 130,911 374,405 223,514 55,750 279,264
Net losses on
investments 12 (171,746) (171,746) (728,572) (728,572)
Net income/(expenditure) 1,487,485 (64,825) 1,422,660 (600,927) 40,109 (560,818)
Transfers
between
funds (67,790) 67,790
Net movement in
funds 1,419,695 2,965 1,422,660 (600,927) 40,109 (560,818)
Reconciliation offunds:
Fund balances at 1 September
2022 5,676,405 136,041 5,812,446 6,277,332 95,932 6,373,264
Fund balances at 31August
2023 7,096,100 139,006 7,235,106 5,676,405 136,041 5,812,446

2023 2022
Notes f.
Fixed assets
Tangible assets 14 45,940 48,968
Investment property 15 462,842 455,154
Investments 16 6,554,560 5,272,828
7,063,342 5,776,950
Current assets
Debtors 17 25,478 14,400
Cash at bank and in hand 210,826 198,739
236,304 213,139
Creditors:
one year		 amounts falling due within 18 64,540 177,643
Net current assets 171,764 35,496
Total assets less current liabilities 7,235,106 5,812,446
The funds ofthe charity
Restricted income funds 19 139,006 136,041
Unrestricted funds 7,096,100 5,676,405
7,235,106 5,812,446

Income fr om donations and legacies
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2023 2023 2022 2022 2022
R R R
Donations and gifts 1,667,463 46,756 1,714,219 194,305 68,161 262,466
Legacies receivable 14,000 14,000
1,681,463 46,756 1,728,219 194,305 68,161 262,466
Other trading activities
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
R F
Income from energy
created 2,144 2,144 1,941 1,941
Fundraising events 15,539 15,539 25,495 25,495
Other trading activities 2,144 15,539 17,683 1,941 25,495 27,436
Investments
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2023 2023f 2023
R		 2022 2022 2022
Rental income 44,502 44,502 27,500 27,500
Income from listed
investments 174,616 3,791 178,407 127,358 2,203 129,561
Interest receivable 55 55
219,118 3,791 222,909 154,913 2,203 157,116

6 Raising funds
Unrestricted Unrestricted
funds funds
2023f 2022f
gradin
dasts
Depreciation
and impairment		 3,028 3,028
Investment
mana		 ement 36,761 34,566
39,789 37,594
7 Charitable
activities
Grants Grants
payable payable
2023f 2022
Charitable
donations		 16,659 19,910
Grant funding
ofactivities (see note 8)		 314,252 215,840
Share ofsupport costs (see note 9) 205 260
Share ofgovernance costs (see note 9) 3,500 5,660
334,616 241,670
Analysis
by fund
Unrestricted
funds		 203,705 185,920
Restricted funds 130,911 55,750
334,616 241,670
8 Grants payable
2023f 2022f
Grants to institutions:
Birkenhead
School		 314,252 215,840

Support costs allocated to activities
Grants Total
payable
2023 2022
R
Sundries 205 260
Governance 3,500 5,660
2023 2022
Governance costs comprise:
Audit fees 3,500 3,500
Legal and professional 2,160
3,500 5,660

Gains and los ses on investments
Unrestricted Unrestricted
funds funds
2023 2022
Gains/(losses) arising on: R
Revaluation of investments (169,992) (750,783)
Sale of investments (1,754) 22,211
(171,746) (728,572)

Tangible fix ed assets
Fixtures snd fittings
Cost
At 1 September 2022 75,704
At 31August 2023 75,704
Depreciation and impairment
At 1 September 2022 26,736
Depreciation charged in the year 3,028
At 31August 2023 29,764
Carrying
amount
At 31August 2023 45,940
At 31August 2022 48,968

16 Fixed asset investments Listed Cash in
investments porffolio Total
Cost or valuation
At 1 September 2022 5,180,079 92,749 5,272,828
Additions 2,419,517 204,483 2,624,000
Valuation
changes		 (169,992) (169,992)
Disposals (1,172,276) (1,172,276)
At 31August 2023 6,257,328 297,232 6,554,560
Carrying
amount
At 31August 2023 6,257,328 297,232 6,554,560
At 31August 2022 5,180,079 92,749 5,272,828
2023 2022
Investments at fair value comprise:
Government stocks 442,250 226,782
United
Kingdom
equities and funds		 2,448,176 1,845,999
Overseas
Equities and funds		 3,366,902 3,107,298
6,257,328 5,783,651
The historical cost of the investments is E5,733,570(2022:f4,475,418)
17 Debtors
2023 2022
Amounts
falling due		 within one year: R
Other debtors 25,478 14,400
18 Creditors: amounts falling due within one year
2023 2022
Other creditors 46,462 166,450
Accruais and deferred income 18,078 11,193
64,540 177,643

At 1 Incoming Resources Transfers At 31August
September resources expended 2023
2022
Bursaries 127,447 50,547 (46,463) 131,531
Fundraising activities 8,594 15,539 (84,448) 67,790 7,475
136,041 66,086 (130,911) 67,790 139,006
Previous year: At 1 Incoming Resources Transfers At 31August
September resources expended 2022
2021
Bursaries 92,923 70,364 (35,840) 127,447
Fundraising activities 3,009 25,495 (19,910) 8,594
95,932 95,859 (55,750) 136,041

At 1 Incoming Resources Transfers Gains and At 31August
September resources expended losses 2023
2022
General funds 5,676,405 1,902,725 (243,494) (67,790) (171,746) 7,096,100
Previous year: At 1
September		 Incoming
resources		 Resources
expended		 Transfers Gains and
losses		 At 31August
2022
2021
R f R R
General funds 6,277,332 351,159 (223,514) (728,572) 5,676,405

Analysis o fnet assets between funds
Unrestricted Restricted Total
funds funds
2023 2023 2023
R R
Fund balances at 31August 2023 are represented by:
Tangible assets 45,940 45,940
Investment properties 462,842 462,842
Investments 6,423,028 131,532 6,554,560
Current assets/(liabilities) 164,290 7,474 171,764
7,096,100 139,006 7,235,106
Unrestricted Restricted Total
funds funds
2022f 2022f 2022
Fund balances at 31August 2022 are represented by:
Tangible assets 48,968 48,968
Investment properties 455,154 455,154
Investments 5,145,381 127,447 5,272,828
Current assets/(liabilities) 26,902 8,594 35,496
5,676,405 136,041 5,812,446

Cash generated
from		 operations operations 2023 2022
R R
Surplus/(deficit)
for the		 year 1,422,660 (560,818)
Adjustments
for:
Investment
income recognised		 in statement offinancial activities (222,909) (157,116)
Loss/(gain)
on disposal		 of investments 1,754 (22,211)
Fair value gains and losses on investments 169,992 750,783
Depreciation
and impairment
oftangible		 fixed assets 3,028 3,028
Movements
in working		 capital:
(Increase)/decrease
in		 debtors (11,078) 7,099
(Decrease)
in creditors		 (113,103) (9,478)
Cash generated
from		 operations 1,250,344 11,287