|CONTENTS|PAGE|
|---|---|
|Trustees, officers and advisers|1-2|
|Annual
Report ofthe Trustees|3-7|
|independent
Auditor's
Report|8-10|
|Statement ofFinancial Activities|11-12|
|Balance Sheet|13|
|Statement ofCashflows|14|
|Notes to the Financial Statements|15-25|
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||||Unrestricted|Restricted|2021|2020|
|---|---|---|---|---|---|---|
|||Notes|Funds|Funds|Total|Total|
||||6|E|6|E|
|income|||||||
|Donations,
legacies and grants||2b, 3|304,635|387,171|691,806|1,094,291|
|investments||2b|205|183|388|4,523|
|Total income|||304,840|387,354|692,194|1,098,814|
|Expenditure|||||||
|Costs of raising funds|||75,375||75,375|120,284|
|Expenditure
on charitable|activities:||||||
|Donations to Sherborne School
Operational
costs|||981,147
100,345|1,086,807|2,067,954
100,345|181,480
128,915|
|Total expenditure||2c|1,156,867|1,086,807|2,243,674|430,679|
|Net income/(expenditure)|and net movement||||||
|in funds before gains and losses on|||||||
|investments|||(852,027)|(699,453)|(1,551,480)|668,135|
|Net gains/(losses)
on investments||||||2,022|
|Net movement
in funds|||(852,027)|(699,453)|(1,551,480)|670,157|
|Reconciliation offunds|||||||
|Total funds brought
forward|||1,452,302|817,638|2,269,940|1,599,783|
|Total funds carried forward||12, 13|600,275|118,185|718,460|2,269,940|
##
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|Detailed Statement of Financial Acti|vities for the year ended 3|0June 2020:|||
|---|---|---|---|---|
|||Unrestricted|Restricted|2020|
||Notes|Funds
E|Funds
f|Total
E|
|income
Donations,
legacies and grants|2b, 3|513,660|580,631|1,094,291|
|investments|2b|3,359|1,164|4,523|
|Total income||517,019|581,795|1,098,814|
|Expenditure
Costs of raising funds||120,284||120,284|
|Expenditure
on charitable
activities:
Donations to Sherborne School
Operational
costs||7,967
128,915|173,513|181,480
128,915|
|Total expenditure|2c|257,166|173,513|430,679|
|Net income/(expenditure)
and net|movement||||
|in funds before gains and losses on
investments||259,853|408,282|668,135|
|Net gains/(losses)
on investments||2,022||2,022|
|Net movement
in funds||261,875|408,282|670,157|
|Reconciliation offunds
Total funds brought
forward||1,190,427|409,356|1,599,783|
|Total funds carried forward|12,13|1,452,302|817,638|2,269,940|
||||||2021|2020|
|---|---|---|---|---|---|---|
|||||Notes|6|6|
|Fixed assets|||||||
|Tangible assets||||8||283|
|Investment
assets||||9|654,741|736,741|
||||||654,741|737,024|
|Current assets|||||||
|Debtors||||10|6,302|241,515|
|Cash at bank and in|hand||||65,564|1,299,663|
||||||71,866|1,541,178|
|Creditors: amounts|falling due within one year|||11|(8,147)|(8,262)|
|Net current assets|||||63,719|1,532,916|
|Total net assets|||||718,460|2,269,940|
|The funds ofthe charity:|||||||
|Restricted funds||||12|118,185|817,638|
|Unrestricted
funds||||12|600,275|1,452,302|
|Total charity funds|||||718,460|2,269,940|
|The financial statements||were approved|and authorised|for issue by the Board on|J) 0/r
I)2 I|and signed|
|on its behalf by:|||||||
|as at 30June 2021||||||
|---|---|---|---|---|---|
|||||2021|2020|
||||Notes|6|6|
|Cash flows from operating|activities:|||||
|Net cash provided
by/(used|in)|||||
|operating activities|||14|(1,316,099)|392,828|
|Cash flows from Investing|activities:|||||
|Purchase ofinvestments|||||(1,900,047)|
|Proceeds from sale ofinvestments||||82,000|1,214,840|
|Net cash provided
by/(used|in) investing||activities|82,000|(685,207)|
|Change
in cash and cash equivalents||in the||||
|reporting
period||||(1,234,099)|(292,379)|
|Cash and cash equivalents|at the beginning|||||
|ofthe reporting
period||||1,299,663|1,592,042|
|Cash and cash equivalents|at the end|ofthe||||
|reporting
period||||65,564|1,299,663|
|Cash and bank balances||||65,564|1,299,663|
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|Income fr|om donations
and legacies|||
|---|---|---|---|
|||2021|2020|
|||f|f|
|Donations||||
|Committed|giving|67,281|58,557|
|Donations||254,687|415,851|
|Legacies||196,269|321,068|
|Grants received||11,941|12,217|
|Donation|ofservices|161,628|237,086|
|Donations|as shares||49,512|
|||691,806|1,094,291|
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|Analysis|of|expenditure|
on|charitable
activit|ies||||
|---|---|---|---|---|---|---|---|---|
|||||||Donations|||
|||||||to|||
||||||Staff|Sherborne|Support||
||||||Costs|School|Costs|Total|
||||||E|f|E|E|
|Charitable|Activities:||||||||
|Donation|to|Sherborne|School|||2,067,954||2,067,954|
|Operational||costs|||55,525||44,820|100,345|
|Total - year||ended 30|June|2021|55,525|2,067,954|44,820|2,168,299|
|||||||Donations|||
|||||||to|||
||||||Staff|Sherborne|Support||
||||||Costs|School|Costs|Total|
||||||E|E|f|f|
|Charitable|Activities:||||||||
|Donation|to|Sherborne|School|||181,480||181,480|
|Operational||costs|||82,440||46,475|128,915|
|Total - year||ended 30|June|2020|82,440|181,480|46,475|310,395|
|Net Income/(expenditure)||||for the year|||||
|This is stated after charging:|||||||||
||||||||2021|2020|
||||||||f|f|
|Depreciation|||||||283|283|
|Auditor's|remuneration||for|audit ofthe financial statements|||5,220|5,040|
||2021|2020|
|---|---|---|
||E|E|
|Gross salaries|101,650|133,970|
|Social security costs|10,110|11,906|
|Pension costs|11,208|12,602|
||122,968|158,478|
|The number of higher paid employees was:|||
||2021|2020|
||No.|No,|
|E60,000 - E70,000|||
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|2021|2020|
|---|---|
|No|No|
|Management|staff|
|---|---|
|Administrative|staff|
##
|8.|Tangible fi|xed asse|ts|||
|---|---|---|---|---|---|
||||||Fixtures and|
||||||fittings|
||||||E|
||Cost|||||
||At 1July 2020||||1,134|
||Additions|||||
||At 30June|2021|||1,134|
||Depreciation|||||
||At 1July 2020||||851|
||Charge for|the year|||283|
||At 30June|2021|||1,134|
||Net book value|||||
||At 30June|2021||||
||At 30June|2020|||283|
|9,|Investments|||||
||||||2021|
||||||E|
||At 1July 2020||||736,741|
||Additions|||||
||Disposals at book value||||(82,000)|
||tfnrealised|gain/(loss)||||
||At 30June|2021|||654,741|
||investments|listed|on the Stock Exchange||654,741|
||Hi sto rica
I cost||||654,741|
|10.|Debtors|||||
|||||2021|2020|
|||||E|E|
||Tax recoverable|||2,741|37,390|
||Other debtors|||3,561|204, 125|
|||||6,302|241,515|
|11.|Creditors: amounts||falling due within one year|||
|||||2021|2020|
|||||E|E|
||Accruals|||8,147|8,262|
##
||||Balance at|Balance at|||Investment||Balance at|
|---|---|---|---|---|---|---|---|---|---|
||||1July 2020||Income|Expenditure|Gains/(losses)||30June 2021|
|||||E|E|E||E|E|
|Restricted Funds:||||||||||
|Academic
Life||||7,559|12||||7,571|
|Andrew Yorke Sail Training||Fu|nd|1,002|1,000|(1,990)|||12|
|Art Department||||188|||||188|
|Boarding||||81,944|(49,685)||||32,259|
|Bursary Programme||||8,812|13,468|(21,797)|||483|
|Chapel Project||||2,702|121||||2,823|
|CCF Field Gun||||588||(588)||||
|Drama —Northern|Campus|2||4,024|527||||4,551|
|Ed Moorhouse
Fund||||8,106|154|(414)|||7,846|
|Extra Curricular||||7,225|3|(7,228)||||
|Foundation
Fellows||||12,091|4,056||||16,147|
|FOS||||279|19||||298|
|Grand Piano||||2,799|1||||2,800|
|Hardship
Fund||||99|36,475|(36,573)|||1|
|Inspirational
Speakers||||10,664|2,932||||13,596|
|Laser Cutter||||525|75||||600|
|Music Master Class||||296|||||296|
|Music Outreach||||2,801|1||||2,802|
|Music Projects||||2,327|1|(1,152)|||1,176|
|Music Studio Equipment||||881|220||||1,101|
|Northern
Campus|||158,704||4,868|(163,572)||||
|Outward
Bound Cottage||||1,697|14||||1,711|
|Personal
Development||||5,876|3||||5,879|
|Peter Currie Commemoration|||Fund|||||||
|Sailing Centre||||2,014|||||2,015|
|Sailing Project 2004||||5,131|||||5,133|
|Scholarships||||||||||
|Sports Coaching/Elite||||4,404|3,551||||7,955|
|Sports Projects||||484,433|369,060|(853,493)||||
|Travel and Tour Bursary Fund||||275|475||||750|
|Upper Pavilion||||192|||||192|
||||817,638||387,354|(1,086,807)|||118,185|
|Unrestricted
Fund:||||||||||
|General
Fund|||1,452,302||304,840|(1,156,867)|||600,275|
|Totals|||2,269,940||692,194|(2,243,674)|||718,460|
##
|Analysis ofmovem|ents
In|fun|ds (continued j|ds (continued j|||||
|---|---|---|---|---|---|---|---|---|
||||Balance at||||Investment|Balance at|
||||1|July 2019|Income|Expenditure|Gains/(losses)|30June 2020|
|||||E|E|E|E|E|
|Restricted
Funds:|||||||||
|Academic
Life||||7,442|117|||7,559|
|Andrew Yorke Sail Training||Fu|nd|11,907|1,002|(11,907)||1,002|
|Annual
Fund Bursaries||||109||(109)|||
|Art Department||||188||||188|
|Boarding||||675|81,269|||81,944|
|Boissier Bursary||||10||(10)|||
|Bursary Programme||||77,323|8,812|(77,323)||8,812|
|Chapel Project||||2,576|126|||2,702|
|CCF Field Gun|||||588|||588|
|Drama —Northern|Campus|2||3,460|564|||4,024|
|Ed Moorhouse
Fund||||7,938|168|||8,106|
|Extra Curricular||||2,219|5,006|||7,225|
|Foundation
Fellows||||75|23,007|(10,991)||12,091|
|FOS||||260|19|||279|
|Grand Piano||||2,593|206|||2,799|
|Hardship
Fund||||2,266|99|(2,266)||99|
|Inspirational
Speakers||||7,912|2,752|||10,664|
|IT||||4,870||(4,870)|||
|Laser Cutter||||449|76|||525|
|Lyon House Fund||||1,743||(1,743)|||
|Music Master Class||||295|1|||296|
|Music Outreach|||||2,801|||2,801|
|Music Projects||||742|1,585|||2,327|
|Music Studio Equipment||||660|221|||881|
|Northern
Campus|||153,458||5,246|||158,704|
|Outward
Bound Cottage||||1,681|16|||1,697|
|Personal Development||||5,863|13|||5,876|
|Peter Currie Commemoration|||Fund|1,003||(1,003)|||
|Sailing Centre||||2,009|5|||2,014|
|Sailing Project 2004||||5,119|12|||5,131|
|Scholarships||||62,616||(62,616)|||
|Sports Coaching/Elite||||1,056|3,348|||4,404|
|Sports Projects||||40,173|444,260|||484,433|
|Travel and Tour Bursary Fund||||475|475|(675)||275|
|Upper Pavilion||||191|1|||192|
||||409,356||581,795|(173,513)||817,638|
|Unrestricted
Fund:|||||||||
|GeneralFund|||1,190,427||517,019|(257,166)|2022|1,452,302|
|Totals|||1,599,783||1,098,814|(430,679)|2,022|2,269,940|
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|||Unrestricted|Restricted||
|---|---|---|---|---|
|||Funds|Funds|Total|
|||6|6|6|
|Fixed assets||608,422|46,319|654,741|
|Current|assets||71,866|71,866|
|Current|liabilities|(8,147)||(8,147)|
|Total at|30June 2021|600,275|118,185|718,460|
|||Unrestricted|Restricted||
|||Funds|Funds|Total|
|||6|f|6|
|Fixed assets||737,024||737,024|
|Current|assets|723,540|817,638|1,541,178|
|Current|liabilities|(8,262)||(8,262)|
|Total at|30June 2020|1,452,302|817,638|2,269,940|
|Reconciliation of|net movem|ents
in funds|to net cash flow from|operating
activities||
|---|---|---|---|---|---|
|||||2021|2020|
|||||E|E|
|Net movement
in|funds|||(1,551,480)|668,135|
|Adjustment
for:||||||
|Depreciation||||283|283|
|Donation
received|as shares||||(49,512)|
|||||(1,551,197)|618,906|
|Movements
in working capital:||||||
|(Increase)/decrease|in debtors|||235,213|(228,526)|
|Increase/(decrease)|in creditors|||(115)|2,448|
|Cash generated
from/(used||in) operations||(1,316,099)|392,828|
|Net cash provided|by/(used|in) operating|activities|(1,316,099)|392,828|
|||2021|2020|
|---|---|---|---|
|||E'000|E'000|
|Donations|to parent|2,068|181|
|Donated|services from parent|162|237|
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