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||Notes|2022|2022|2022|2021|
|---|---|---|---|---|---|
|||Unrestricted<br>income fund<br>f|Expendable<br>endowment<br>fundsf|f<br>Total|f,<br>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:<br>Rentalactivity<br>Charitable activities|4<br>5|218,618<br>1,633,761|0<br>0|218,618<br>1,633,761|182,287<br>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<br>Netunrealisedinvestmentgains(2021:losses)|7<br>7|r,888,241<br>214,3'76|0<br>0|1,888,241<br>214,376|974,950<br>(153,015)|
|Netincomeandnetmovementinfunds||2,671,264630,086||3,301,350|2,062,912|
|Reconciliation of funds||||||
|Fundsbroughtforward|10|<br>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<br>f<br>f||2021<br>f<br>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<br>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<br>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||5,938,502|
|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<br>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<br>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)<br>(||(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<br>f||31May2021<br>f|
|Cashandbank balances|20,000||20,000|
|Shorttermdeposits|27,533,',l11||14,283,732|
||2t,553,7r1||t4,303,732|





## 

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## 

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## 

## 



## 

## 

## 

## 

## 



## 

## 

|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<br>needs,disabilitiesormentalillhealth|414,771|51,279|532,050|
|Trustees'Discretion-Unrestrictedincome fund:education|145,82',7|83<br>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<br>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<br>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<br>Pension|4,86r<br>)<'))|270<br>140|5,131<br>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<br>investmentfunds|Investment<br>properties||Loans|Totalfor<br>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|30,747,648|
|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|45,301,000|
|At3lI|l4ay2021|7,5oo,o0o||1,000|38,800,000|46,301,000|
|||||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||28|
|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<br>2021|IncomeExpenditure|Gains and<br>losses|At31<br>llay2022|
|||f,|s<br>c|î,|f|
||Expendableendowments<br>Endowmentgifts|45,001,000|0<br>0|0|45,001,000|
||Furtherexpendable endowmentgifts|86,914|630,086<br>0|0|717,000|
|||45,087,914630,086<br>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<br>Æ|3,051,112(1,852,3',79)|2,102,617|54,32',7,766|
||Charity|At1June<br>2021|IncomeExpenditure|Gainsand<br>losses|At31<br> M,aY2022|
|||f|t<br>f|f|f,|
||Expendableendowments<br>Endowmentgifts|45,001,000|0<br>0|0|45,001,000|
||Furtherexpendable endowmentgifts|86,914<br>630,086<br>45,087,914630,086<br>0<br>0||0<br>0|7r7,000<br>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<br>2020|IncomeExpenditure||Gains and<br>losses||At31<br>May2021|
|||f|f,|f||f|f|
||Expendableendowments|||||||
||Endowmentgifts|45,001,000|0|0||0|45,001,000|
||Furtherexpendableendowmentgifts|87,405<br>45,088,405|9<br>9|(s00)<br>(s00)||0<br>0|86,914<br>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<br>:--=:-|||||51,026,416|
||Charity|At1June<br>2020|IncomeExpendíture||Gainsand<br>losses||At31<br> M.aY202L|
|||gf,tff||||||
||Expendableendowments|||||||
||Endowmentgifts|45,001,000|0|0||0|45,001,000|
||Furtherexpendableendowmentgifts|87,405<br>45,088,405|9<br>9|(so0)<br>(s00)||0<br>0|96,914<br>45,087,914|
||Income funds|||||||
||Unrestricted fund|1,570,6072,435,634(1,571,535)||||1,141,9853,576,691||
|||46,659,012<br>:-=:-:|2,435,643(1,572,035)|||1,141,985|48,664,605|





## 

|Änalysisofnetassetsbetweenfunds|||||||
|---|---|---|---|---|---|---|
|Group -2022|Endowment<br>fund||Expendable<br>endowment||Unrestricted<br>incomefund|Total<br>funds|
|||||fund|||
|||Ê||*"|f|f|
|Fixedassets|33,960,027|||0|0|33,960,027|
|Currentassets||rL,040,973|7|,000<br>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<br>fund||Expendable<br>endowment||Unrestricted<br>incomefund|Total<br>funds|
|||||fund|||
|||c||f|t|f,|
|Fixedassets<br>Currentassets||45,00<br>,000<br>0<br>1|7|0<br>,000<br>,||1,150,568<br>5,685,3',70|46,151,568<br>6,402,3',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<br>fund||Expendable<br>endowment||Unrestricted<br>incomefund|Total<br>funds|
|||||fund|||
|||f||c|f|f|
|Fixedassets||37,761,r92||0|0|37,761,r92|
|Currentassets||7,239,808||96,91<br>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<br>fund||Expendable<br>endowment||Unrestricted<br>incomefund|Total<br>funds|
|||||fund|||
|||c||f,|f|f,|
|Fixedassets||45,00 1,000||0|1,936,192|46,937,192|
|Currentassets||0||9<br>86,<br>t4|3,634,519|3,721,433|
|Currentliabilities<br>Creditorspayableaftermore thanoneyear||0<br>0||0<br>0|(1,460,950)<br>(533,070)|(1,460,950)<br>(533,070)|
|At3IMay202t||45,001,000||g6,9143,576,69148,664,605|||





## 

## 

##