| Notes | 2022 | 2022 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Unrestricted income fund f |
Expendable endowment fundsf |
f Total |
f, Total |
||
| Incomefrom: | |||||
| Donation | 2 | 0 | 630,073 | 630,073 | 0 |
| Investments and cash dePosits | 3 | r,395,064 | 13 | t,395,077 | t,482,484 |
| Rentalincome | 4 | r,025,962 | 0 | 1,025,962 | 1,528,316 |
| Total income | 2,421,026 | 630,086 | 3,051,112 | 3,010,860 | |
| Expenditureon: | |||||
| Raisingfunds: Rentalactivity Charitable activities |
4 5 |
218,618 1,633,761 |
0 0 |
218,618 1,633,761 |
182,287 1,587,596 |
| Totalexpenditure | 1,852,379 | 0 | 1,852,379 | 1,769,883 | |
| Netoperating income | 568,647630,086 | r,t98,733 | 1,240,9',77 | ||
| Netrsalisedinvestmentgain Netunrealisedinvestmentgains(2021:losses) |
7 7 |
r,888,241 214,3'76 |
0 0 |
1,888,241 214,376 |
974,950 (153,015) |
| Netincomeandnetmovementinfunds | 2,671,264630,086 | 3,301,350 | 2,062,912 | ||
| Reconciliation of funds | |||||
| Fundsbroughtforward | 10 | 5,938,50245,087,914 |
51,026,416 | 48,963,504 | |
| Fundscarriedforward | 10 | 8,609,'76645,718,000 | 54,327,766 | 51,026,416 |
| Consolidated Balance Sheetasat3l1ùdzy2022 | |||||
|---|---|---|---|---|---|
| Notes | 2022 f f |
2021 f f, |
|||
| Fixedassets | |||||
| Managed investmentfunds | 7 | 10,350,568 | 8,136,r92 | ||
| Investment proPerties | 7 | 8,775,000 | 18,075,000 | ||
| Loans | 7 | 14,834,459 | 11,550,000 | ||
| Totalinvestments | 33,960,027 | 37,761,192 | |||
| Currentassets | |||||
| Debtors | 8 | 506,234 | 1,167,264 | ||
| Cashatbank andinhand | |||||
| Cash andbank balances | 20,000 | 20,000 | |||
| Short term deposits | 21,533,',l1I | t4,283,732 | |||
| 22,059,945 | 15,470,996 | ||||
| Creditors:amountsfallingduewithinoneyear | |||||
| Charitable grantsprovidedand contractedfor, but notpaid |
5 | (786,425) | (1,443,407) | ||
| Othercreditors | 9 | (376,401) | (229 .295) | ||
| (1,162,826) | (1,672,702) | ||||
| Netcurrentassets | 20,897,119 | 13,'798,294 | |||
| Totalassetslesscurrent liabilities | 54,857,146 | 51,559,486 | |||
| Creditors:amountspayableaftermorethanoneyear | |||||
| Charitable grantsprovidedand contractedfor, but notpaid |
5 | (529,380) | (533,070) | ||
| Netassets | 54,327,766 | 51,026,416 | |||
| Expendableendowments | |||||
| Endowmentgifts | l0 | 45,001,000 | 45,001,000 | ||
| Expendableendowmentgift | 10 | 717,000 | 86,914 | ||
| 45,718,000 | 45,087,914 | ||||
| Income funds | |||||
| Unrestricted incomefund | l0 | 8,609,', | 66 | ||
| Totalexpendableendowmentand incomefunds | 54,327,766 | 51,026,416 |
| BalanceSheetasat3lMay2022 | |||||
|---|---|---|---|---|---|
| Notes | 2022 | 2021 | |||
| f | f | t | s | ||
| Fixedassets | |||||
| Managedinvestment funds | 7 | 10,350,568 | 9,136,192 | ||
| Loan to subsidiary company | 1 | 35,800,000 | 38,800,000 | ||
| Investmentinsubsidiary company | 7 | 1,000 | 1,000 | ||
| Totalinvestments | 46,151,568 | 46,937,192 | |||
| Currentassets | |||||
| Debtors | 8 | 933,502 | 1,366,956 | ||
| Cashatbankandinhand | |||||
| Cashandbank balances | 10,000 | 10,000 | |||
| Short term deposits | 5,458,868 | 2,344,4'17 | |||
| 6,402,370 | 3,',721,433 | ||||
| Creditors:amountsfallingduewithinoneyear | |||||
| Charitable grants,providedand contracted,but notpaid |
5 | (786,425) | (1,443,407) | ||
| Othercreditors | 9 | (2l,l9l) | (17,543) | ||
| (807,616) | (1,460,950) | ||||
| Netcurrentassets | 5,594,754 | 2,260,483 | |||
| Totalassetslesscurrent liabilities | 5r,746,322 | 49,197,675 | |||
| Creditors:amountspayableaftermore thanone | year | ||||
| Charitablegrants,providedand contracted,but | |||||
| notpaid | 5 | (529,380) | (533,070) | ||
| Netassets | 51,216,942 | 49,664,605 | |||
| Expendable endowments | |||||
| Endowmentgifts | 10 | 45,001,000 | 45,001,000 | ||
| Expendableendowmentgift | 10 | '117,000 | 86,914 | ||
| 45,718,000 | 45,087,914 | ||||
| Income funds | |||||
| Unrestricted income fund | 10 | 5,498,942 | 3,576,691 | ||
| Totalexpendableendowmentandincomefunds | 51,216,942 | 49,664,605 |
| 2022 | 2021 | 2021 | |
|---|---|---|---|
| f f |
f | f | |
| Netincomeforthereporting period | 3,301,350 | 2,062,912 | |
| Adjustments for: | |||
| Realised gains on investments | (1,888,241) | (974,950) | |
| Unrealisedgains(2021:losses) oninvestments | (214,376) | 153,015 | |
| Incomereceivablefrominvestmentsandcashdeposits | (1,395,077) | (t,492,484) | |
| Rents receivablefrominvestments | (1,025,962) | (1,528,376) | |
| Incease(2021:decrease)indebtors | (56,197) | 57,033 | |
| Decreaseincreditors | 464,267) ( |
(1,045,445) | |
| Netcash usedby operating activities | (1,742,'770) | (2,758,295) | |
| Cashflowsfrominvesting activities: | |||
| Dividenddistributionsandintcrest received | 1,261,014 | 1,452,781 | |
| Rentreceived | 1,110,745 | 1,567,409 | |
| Proceedsfrom investmentloan repayments | 2,058,453 | 9,907,742 | |
| Investmentloans made | (4,600,000) | 0 | |
| Purchaseofmanagedinvestment funds | (2,000,000) | 0 | |
| Proceedsfromdisposalofinvestmentproperty | r1,t62,537 | 0 | |
| Netcashprovided by investing activities | 8,992,749 | 12,927,932 | |
| Changeincashinthereportingperiod | 7,249,979 | 10,169,637 | |
| Cashatthebeginningofthereportingperiod | 14,303,732 | 4,r34,095 | |
| Cash attheendofthereportingperiod | 21,553,7ll | 14,303,732 | |
| Analysisofcash | 3lMay2022 f |
31May2021 f |
|
| Cashandbank balances | 20,000 | 20,000 | |
| Shorttermdeposits | 27,533,',l11 | 14,283,732 | |
| 2t,553,7r1 | t4,303,732 |
| Incomefrominvestmentsandcashdeposits | ||
|---|---|---|
| 2022 | 2021 | |
| f | f | |
| Income from listcdinvestments | 301,777 | 259,244 |
| Interest receivablefromloansforpropertydevelopment | 1,092,433 | 1,222,149 |
| Interest roceivablefrom bankdepositsand other deposit accounts: | ||
| Unrestricted income fund | 854 | 1,082 |
| 1,395,064 | 1,482,475 | |
| Expendable endowmentfund | 13 | 9 |
| 1,395,077 | 1,492,484 |
| 2022 | 2021 | |
|---|---|---|
| r. | f | |
| Rentalincome | 1,025,962 | 1,528,376 |
| Interestreceivable | r,093,270 | 1,223,014 |
| Operatingexpensesforrental activities | (218,618) | (182,287) |
| Fair valuegains/(losses) oninvestmentproperties | 1,862,537 | (1,295,000) |
| Otheroperatingexpenses | (9,372) | (15,561) |
| Interest payable on shareholder loans | (895,783) | (814,800) |
| Shareofnetdevelopmentprofitonloans | 25,705 | 974,950 |
| Profitonordinary activities | 2,883,701 | t,418,692 |
| Donationpayabletoparentcharity | (2,r34,688) | (1,361,373) |
| Profitretainedinthesubsidiary | 749,013 | 57,319 |
| Charitableactivities | |||
|---|---|---|---|
| Grants | Support | Total | |
| awarded | costs | ||
| f | c | f | |
| 2022 | |||
| Opportunities through Sport | 888,065 | I14,559 | r,002,624 |
| SupportforChildrenandYoungPeoplewhohave specialeducational needs,disabilitiesormentalillhealth |
414,771 | 51,279 | 532,050 |
| Trustees'Discretion-Unrestrictedincome fund:education | 145,82',7 | 83 8,1 |
154,010 |
| -Unrestricted income fund:other | 0 | 0 | 0 |
| -Expendable endowmentfunds | 0 | 0 | 0 |
| Less grants awardedinpreviousyearsnottakenup | 0 | 54,923) | |
| 1,453,740 | 180,02i | 1,633,761 | |
| 2021 | |||
| Opportunities through Spott | 8',74,090 | 100,184 | 974,274 |
| SupportforChildrenandYoungPeoplewhohave specialeducational needs,disabilitiesormentalillhealth |
365,961 | 45,181 | 4lt,l42 |
| Trustees'Discretion-Unrestrictedinçome fund:education | 149,752 | 9,822 | 159,574 |
| - Unrestricted income fund:other | 125,000 | 7,858 | 132,858 |
| - Expendableendowment funds | 500 | 0 | 500 |
| Less grants awardedin previousyearsnottakenup | (90,752) | 0 | (90,752) |
| r,424,551 | 163,045 | 1,58'7,596 |
| Reconciliation ofgrantsprovidedorreserved: | ||
|---|---|---|
| 2022 | 2021 | |
| f | f | |
| Grants awardedduringtheyear | 1,453,740 | r,424,551 |
| Addcharitablegrants awarded andcontractedinprevious yearbut not paid at3lMay2021 |
1,976,4772,999,543 | |
| 3,430,217 | 4,424,094 | |
| Charitablegrantspaid duringtheyear | (2,Ll4,412) | (2,447,617) |
| Charitablegrantsprovidedandcontracted forbut notpaidat3li | l4ay2022 | 1,315,805r,976,477 |
| Charitablegrantsprovidedand contractedforbut notpaidcomprise: | ||
| Grants payable aftermorethan one yearbutwithinfiveyears | 506,852 | 511,538 |
| Grantspayableafterfiveyears | 22,528 | 21,532 |
| Grants payable aftermorethanoneyear | 529,380 | 533,070 |
| Grants payableduringthenextyear | '786,425 | t,443,40'7 |
| 1,315,8051,976,477 |
| Grant-making | Governance | Total support | |
|---|---|---|---|
| 2022 | costs | costs | costs |
| f | f, | f | |
| Staffcosts | |||
| Gross salaries | 59,474 | 3,298 | 62,772 |
| Employer's NationalInsurance Pension |
4,86r )<')) |
270 140 |
5,131 2,662 |
| Staff recruitmentandtraining | 20,049 | 0 | 20,049 |
| 96,906 | 3,708 | 90,614 | |
| Professionalfees | |||
| Auditfees | 0 | 22,223 | 22,223 |
| Legalandprofessionalfees | 0 | 243 | 1,243 |
| 0 | 23,466 | 23,466 | |
| Premisescosts | |||
| Rent | 19,299 | 1,070 | 20,369 |
| Rates | 9,687 | 482 | 9,169 |
| Premises management | 6,083 | JJI | 6,420 |
| 34,069 | 1,889 | 35,958 | |
| Officecosts | 28,408 | 1,575 | 29,983 |
| 149,383 | 30,638 | 180,021 |
| 6 | Supportcosts(continued) | |||
|---|---|---|---|---|
| Grant-making | Governance | Totalsupport | ||
| 2021 | costs | costs | costs | |
| s | f, | f | ||
| Staffcosts | ||||
| Gross salaries | 59,525 | 3,982 | 63,507 | |
| Employer'sNationalInsurance | 4,902 | 3Zl | 5,123 | |
| Pension | 2,401 | t6t | 2,562 | |
| Staff recruitmentandtraining | 295 | 0 | 295 | |
| 67,023 | 4,464 | 71,487 | ||
| Professionalfees | ||||
| Auditfees | 0 | 21,096 | 21,096 | |
| Legalandprofessionalfees | 0 | 8,1 13 | 8,1 13 | |
| 0 | 29,209 | 29,209 | ||
| Premisescosts | ||||
| Rent | 19,092 | 1,277 | 20,369 | |
| Rates | 8,3 18 | 556 | 8,874 | |
| Premises management | 5,538 | 370 | 5,908 | |
| 32,948 | 2,203 | 35,151 | ||
| Officecosts | 25,493 | 1,705 | 27,r98 | |
| r25,464 | 37,581 | t63"045 |
| Investments | |||||
|---|---|---|---|---|---|
| Group | Managed investmentfunds |
Investment properties |
Loans | Totalfor group |
|
| f | f | f | c | ||
| Costand valuation | |||||
| AtIJune2021 | 8,136,192 | 18,075,000 | 11,550,000 | 37,',l6l ,192 | |
| Additions | 2,000,000 | 0 | 4,600,000 | 6,600,000 | |
| Disposals | 0 | (11,762,537) | (1,315,541) | (12,478,078) | |
| Revaluationgains | 214,376 | 1 | 7 | 0 | 13 |
| At3ll | l4ay2022 | 10,350,5688,775,000 | 14,834,45933,960,027 | ||
| Historiccost | |||||
| At3lI | lf,ay2022 | 9,500,000 | 6,413,189 | 14,834,459 | |
| At3l}i4ay2021 | 7,5oo,ooo | 20,025,702 | II,550,000 | 39,075,702 | |
| Managed | fnvestmentin | Loanto | Totalfor | ||
| Charity | investmentfunds | subsidiary | subsidiary | charity | |
| company | company | ||||
| f | s. | f | c | ||
| Costand valuation | |||||
| AtIJune2021 | 9,136,192 | ,000 | 38,800,000 | 46,937,192 | |
| Additions | 2,000,000 | 0 | 0 | 2,000,000 | |
| Repayment | 0 | 0 | (3,000,000) | (3,000,000) | |
| Revaluation gain | 214,376 | 0 | 0 | 214,376 | |
| Ar3lI | /.ay2022 | 10,350,568 | 1,000 | 35,800,00046,157,568 | |
| Historiccost | |||||
| At3lI | lday2022 | 9,500,000 | 1,000 | 35,800,000 | |
| At3lI | l4ay2021 | 7,5oo,o0o | 1,000 | 38,800,000 | |
| 2022 | 2021 | ||||
| f | t | ||||
| Netrealised investmentgains | |||||
| Revaluationgain on investmentpropertysold | 1,962,537 | 0 | |||
| Loans:shareofdevelopmentprofits | 25,'704 | 974,950 | |||
| 1,888,241974,950 | |||||
| Net unrealisedinvestmentgains(20212 losses) | |||||
| Managedinvestment funds | 214,376 | t,141,985 | |||
| Revaluationlosseson inveshnentproperties | 0 | (r | |||
| 214,376(153,015) |
| Debtors | ||||
|---|---|---|---|---|
| Group | Group | Charity | Charity | |
| 2022 | 2021 | 2022 | 202r | |
| f | I | f | s | |
| Tradedebtors | 84,930 | 169,820 | 0 | 0 |
| Profitsharesreceivable | 0 | 71',7,208 | 0 | 0 |
| Otherdebtors andprepayments | 35,318 | 28,313 | 5,446 | 5,583 |
| Accruedincomereceivable | 385,986 | 25t,923 | 0 | 0 |
| Donation receivable from subsidiary company | 0 | 0 | 928,056 | 1,361,373 |
| 506,234 | 1,167,264 | 933,502 | 1,366,956 |
| Other creditors | |||||
|---|---|---|---|---|---|
| Group | Group | Charity | Charity | ||
| 2022 | 202t | 2022 | 2021 | ||
| f | f, | Ê | s. | ||
| Rent receivedinadvance | 51,870 | 101,169 | 0 | 0 | |
| Trade creditors | 259,567 | 56,7',' | 8 | 1,606 | |
| Accruals | 28,887 | 34,498 | 19,585 | t7 | ,515 |
| Taxes andsocial security | 1,279 | 36,850 | 0 | 0 | |
| Other creditors | 34,',l98 | 0 | 0 | 0 | |
| 376,401 | 229,295 | 2l,l9l | 17,543 |
| 10 | Analysis of funds | ||||
|---|---|---|---|---|---|
| Group | AtlJune 2021 |
IncomeExpenditure | Gains and losses |
At31 llay2022 |
|
| f, | s c |
î, | f | ||
| Expendableendowments Endowmentgifts |
45,001,000 | 0 0 |
0 | 45,001,000 | |
| Furtherexpendable endowmentgifts | 86,914 | 630,086 0 |
0 | 717,000 | |
| 45,087,914630,086 0 |
0 | 45,718,000 | |||
| Income funds | |||||
| Unrestricted fund | 5,938,502 | 2,421,026(r,852,379) | 2,102,6178,609,',766 | ||
| 51,026,416 Æ |
3,051,112(1,852,3',79) | 2,102,617 | 54,32',7,766 | ||
| Charity | At1June 2021 |
IncomeExpenditure | Gainsand losses |
At31 M,aY2022 |
|
| f | t f |
f | f, | ||
| Expendableendowments Endowmentgifts |
45,001,000 | 0 0 |
0 | 45,001,000 | |
| Furtherexpendable endowmentgifts | 86,914 630,086 45,087,914630,086 0 0 |
0 0 |
7r7,000 45,718,000 |
||
| Income funds | |||||
| Unrestricted fund | 3,576,691 | 3,332,265(1,624,389)214,3',755,498,942 | |||
| 48,664,605 | 3,962,351(I,624,389)214,375 | 51,216,942 |
| 10 | Analysisoffunds (continued) | ||||||
|---|---|---|---|---|---|---|---|
| Group | AtIJune 2020 |
IncomeExpenditure | Gains and losses |
At31 May2021 |
|||
| f | f, | f | f | f | |||
| Expendableendowments | |||||||
| Endowmentgifts | 45,001,000 | 0 | 0 | 0 | 45,001,000 | ||
| Furtherexpendableendowmentgifts | 87,405 45,088,405 |
9 9 |
(s00) (s00) |
0 0 |
86,914 45,087,914 |
||
| Income funds | |||||||
| Unrestricted fund | 3,875,0gg3,010,851(1,769,383)821,9355,938,502 | ||||||
| 48,963,5043,010,860(1,769,883)821,935 :--=:- |
51,026,416 | ||||||
| Charity | At1June 2020 |
IncomeExpendíture | Gainsand losses |
At31 M.aY202L |
|||
| gf,tff | |||||||
| Expendableendowments | |||||||
| Endowmentgifts | 45,001,000 | 0 | 0 | 0 | 45,001,000 | ||
| Furtherexpendableendowmentgifts | 87,405 45,088,405 |
9 9 |
(so0) (s00) |
0 0 |
96,914 45,087,914 |
||
| Income funds | |||||||
| Unrestricted fund | 1,570,6072,435,634(1,571,535) | 1,141,9853,576,691 | |||||
| 46,659,012 :-=:-: |
2,435,643(1,572,035) | 1,141,985 | 48,664,605 |
| Änalysisofnetassetsbetweenfunds | ||||||
|---|---|---|---|---|---|---|
| Group -2022 | Endowment fund |
Expendable endowment |
Unrestricted incomefund |
Total funds |
||
| fund | ||||||
| Ê | *" | f | f | |||
| Fixedassets | 33,960,027 | 0 | 0 | 33,960,027 | ||
| Currentassets | rL,040,973 | 7 | ,000 7 |
10,301,972 | 22,059,945 | |
| Currentliabilities | 0 | 0 | (1,162,826) | (1,162,826) | ||
| Creditorspayableaftermore thanoneyear | 0 | 0 | (529,380) | (529,380) | ||
| At3LM.ay2022 | 45,001,000 | 717,0008,609,766 | 54,327,766 | |||
| Charity-2022 | Endowment fund |
Expendable endowment |
Unrestricted incomefund |
Total funds |
||
| fund | ||||||
| c | f | t | f, | |||
| Fixedassets Currentassets |
45,00 ,000 0 1 |
7 | 0 ,000 , |
1,150,568 5,685,3',70 |
||
| Currentliabilities | 0 | 0 | (807,616) | (807,616) | ||
| Creditorspayableaftermore thanoneyear | 0 | 0 | (529,380) | (529,380) | ||
| At3lill{ay2022 | :- | 45,001,000 | '717,0005,498,942 | 51,216,942 | ||
| Group-202t | Endowment fund |
Expendable endowment |
Unrestricted incomefund |
Total funds |
||
| fund | ||||||
| f | c | f | f | |||
| Fixedassets | 37,761,r92 | 0 | 0 | 37,761,r92 | ||
| Currentassets | 7,239,808 | 96,91 4 |
9,144,274 | 15,470,996 | ||
| Currentliabilities | 0 | 0 | (1,672,702) | (1,672,702) | ||
| Creditorspayableaftermore thanoneyear | 0 | 0 | (533,070) | (533,070) | ||
| At3I}lf.ay2021 | 45,001,000 | 86,9145,938,50251,026,416 | ||||
| Charity -2021 | Endowment fund |
Expendable endowment |
Unrestricted incomefund |
Total funds |
||
| fund | ||||||
| c | f, | f | f, | |||
| Fixedassets | 45,00 1,000 | 0 | 1,936,192 | 46,937,192 | ||
| Currentassets | 0 | 9 86, t4 |
3,634,519 | 3,721,433 | ||
| Currentliabilities Creditorspayableaftermore thanoneyear |
0 0 |
0 0 |
(1,460,950) (533,070) |
(1,460,950) (533,070) |
||
| At3IMay202t | 45,001,000 | g6,9143,576,69148,664,605 |