| Page | ||
|---|---|---|
| Trustees and advisers |
||
| Report ofthe Trustees | ||
| Independent auditor's |
report | |
| Statement offinancial | activities | |
| Balance sheet | 12 | |
| Notes to the financial | statements | 13 |
| The trustees | who served | who served | during | the year were: | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Chairman: | Brigadier (Retd) | RJ Bacon, MBA, | Chartered | FCIPD, | FCMI, CMILT (retired as | |||||||
| Trustee and Chair ofWycliffe College (Incorporated) 31 August 2021) Mr S F M Lloyd BSc (Hons) Est Man, MRICS (1,3,4) (appointed |
Chair of | |||||||||||
| Wycliffe College | (Incorporated) | 31 | August | 2021 | ||||||||
| Trustees: | Mr S P Etheridge, Brigadier (Retd) Mr N J Gregory, |
MBE, TD, JP, MBA (retired 4 December 2021) RJ Bacon, MBA, Chartered FCIPD, FCMI, CMILT BA, M.Ed |
||||||||||
| Mrs SJ Lacey, Meng, BA | (Hons) (retired | 13December 2021) | ||||||||||
| Mr T P Wood, BA (Hons), | FCA | |||||||||||
| Secretary: | Mr T P Wood, BA (Hons), | FCA | ||||||||||
| Principal address: | Finance Department | |||||||||||
| Regent Street | ||||||||||||
| Stonehouse | ||||||||||||
| Gloucestershire | ||||||||||||
| GL10 2AD | ||||||||||||
| Registered | Charity | Number: | 1078286 | |||||||||
| ADVISERS | ||||||||||||
| Bankers | Lloyds Bank Commercial | |||||||||||
| Barnwood 1 |
||||||||||||
| Barnett Way | ||||||||||||
| Gloucester | ||||||||||||
| GL4 3RL | ||||||||||||
| Solicitors | Harrison Clark Rickerbys |
|||||||||||
| Ellenborough House |
||||||||||||
| Wellington Street |
||||||||||||
| Cheltenham | ||||||||||||
| Gloucestershire | ||||||||||||
| GL50 1YD | ||||||||||||
| Auditors | Hazlewoods | |||||||||||
| Staverton Court |
||||||||||||
| Staverton | ||||||||||||
| Cheltenham | ||||||||||||
| Glos | ||||||||||||
| GL51 OUX | ||||||||||||
| Investment | managers | Paradigm Norton |
Financial | Planning | Ltd | |||||||
| Paradigm House |
||||||||||||
| Macrae Road, Ham Green | ||||||||||||
| Bristol | ||||||||||||
| BS20ODD |
| Unrestricted | Restricted | Endowed | |||||
|---|---|---|---|---|---|---|---|
| Note | Funds | Funds | Funds | Total | Total | ||
| 2021 | 2021 | 2021 | 2021 | 2020 | |||
| f | |||||||
| Income and endowments | |||||||
| from: | |||||||
| Voluntary sources |
|||||||
| Donations and |
|||||||
| legacies | 15,428 | 142,915 | 158,343 | 14,329 | |||
| Investments | |||||||
| Gross dividends and interest |
10,637 | 6,517 | 17,154 | 21,268 | |||
| Bank deposit interest | 8 | 34 | 42 | 341 | |||
| Total income and | |||||||
| endowments | 26,073 | 149,466 | 175,539 | 35,938 | |||
| Expenditure on: |
|||||||
| Raising funds | (9,51 1) | (4,287) | (13,798) | (9,491) | |||
| Charitable activities |
(7,800) | (5,150) | (12,950) | (35,988) | |||
| Total expenditure | (17,311) | (9,437) | (26,748) | (45,479) | |||
| Net Incoming funds from | |||||||
| operations before |
|||||||
| investment gains |
8,762 | 140,029 | 148,791 | (9,541) | |||
| Net (losses)/gains | on | ||||||
| investment assets |
97,885 | 59,851 | 77,439 | 235,175 | (24,079) | ||
| Net (expenditure)/income | |||||||
| and net movement | in funds | 106,647 | 199,880 | 77,439 | 383,966 | (33,620) | |
| Reconciliation of |
funds | ||||||
| Total funds brought | forward | 646,663 | 419,296 | 511,588 | 1,577,547 | 1,611,167 | |
| Total funds carried | |||||||
| forward | 753,310 | 619,176 | 589,027 | 1,961,513 | 1,577,547 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | |||||
| FIXEDASSETS | |||||
| Investments | 1,913,140 | 1,501,974 | |||
| CURRENT ASSETS | |||||
| Debtors | 1,879 | ||||
| Cash at bank and | in | hand | 50,873 | 82,426 | |
| 50,873 | 84,305 | ||||
| Creditors: Amounts | falling due within one year | 10 | 2,500 | 8,732 | |
| Net current assets | 48,373 | 75,573 | |||
| Net assets | 1,961,513 | 1,577,547 | |||
| Funds | |||||
| Unrestricted funds |
12 | 753,310 | 646,663 | ||
| Restricted funds | 12 | 619,176 | 419,296 | ||
| Endowed funds |
12 | 589,027 | 511,588 | ||
| Total funds | 1,961,513 | 1,577,547 |
| Unrestricted | Restricted | Endowed | Total | |||||
|---|---|---|---|---|---|---|---|---|
| 2021 | 2021f | 2021 | 2021 | |||||
| Donations | 15,428 | 142,95 | 158,343 | |||||
| Unrestricted | Restricted | Endowed | Total | |||||
| 2020 F |
2020 | 2020f | 2020 | |||||
| Donations | 1,509 | 12,820 | 14,329 | |||||
| 5 | Expenditure | |||||||
| Unrestricted | Restricted | Endowed | Total | |||||
| 2021 | 2021 | 2021 | 2021 | |||||
| Expenditure | on | raising funds: | ||||||
| Investment | management | costs | 7,011 | 4,287 | 11,298 | |||
| Expenditure | on | charitable | activities: | |||||
| Scholarships | and bursaries | 7,800 | 5,150 | 12,950 | ||||
| Governance | costs | 2,500 | 2,500 | |||||
| Total charitable | expenditure | 10,300 | 5,150 | 15,450 | ||||
| Total expenditure | 17,311 | 9,437 | 26,748 | |||||
| Unrestricted | Restricted | Endowed | Total | |||||
| 2020 | 2020 | 2020 | 2020 | |||||
| Expenditure | on | raising funds: | ||||||
| Investment | management | costs | 5,944 | 3,547 | 9,491 | |||
| Expenditure | on | charitable | activities: | |||||
| Scholarships | and bursaries | 17,371 | 15,027 | 32,398 | ||||
| Governance | costs | 3,590 | 3,590 | |||||
| Total charitable | expenditure | 20,961 | 15,027 | 35,988 | ||||
| Total expenditure | 26,905 | 18,574 | 45,479 |
| Governa follows: |
nce costs rep |
rese | nt the |
support costs ofthe charity an | d these can be summarised as |
|
|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||
| P | ||||||
| Auditor's | remuneration | for | audit | services | 2,500 | 2,500 |
| Auditor's | remuneration | for | other | services | 1,000 | |
| 2,500 | 3,500 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Market value at 1"September | 1,451,347 | 1,485,821 | |||
| Additions | 255,268 | 475,190 | |||
| Disposals | (75,091) | (485,585) | |||
| Realised | gains/(losses) | on disposals | 10,491 | ||
| Unrealised | gains/(losses) | on revaluation | 235,08 | (34,570) | |
| Market value at31"August | 1,866,572 | 1,451,347 | |||
| Cash on deposit | 46,568 | 50,627 | |||
| 1,913,140 | 1,501,974 | ||||
| Debtors: | amounts | due | in one year | ||
| 2021f | 2020 | ||||
| Other debtors | 1,879 |
| Creditor | s: am | ou | nts du |
e in one year | ||
|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||
| Amounts | owed | to | group | undertakings | 5,232 | |
| Accruals | 2,500 | 3,500 | ||||
| 2,500 | 8,732 |
| Fund | |||||
|---|---|---|---|---|---|
| Current | Current | Balances | |||
| Investments | Assetsf | Liabilitiesf | 2021 | ||
| Unrestricted | funds | 704,937 | 50,873 | (2,500) | 704,937 |
| Restricted | funds | 619,176 | 619,176 | ||
| Endowment | funds | 589,027 | 589,027 | ||
| 1,913,140 | 50,873 | ||||
| Fund | |||||
| Current | Current | Balances | |||
| Investments | Assets | Liabilities | 2020f | ||
| Unrestricted | funds | 571,090 | 84,305 | (8,732) | 646,663 |
| Restricted funds | 419,296 | 419,296 | |||
| Endowment | funds | 511,588 | 511,588 | ||
| 1,501,974 | 84,305 | (8,732) | 1,577,547 |
| 12 Funds |
|||||||
|---|---|---|---|---|---|---|---|
| Balance | |||||||
| Balance | Investment | 31 | |||||
| 1 September | Incoming | Resources | Gains | August | |||
| 2020 | Resources | Expended | l(losses) | 2021 | |||
| Unrestricted funds |
|||||||
| General Fund |
127,968 | 6,558 | (9,682) | 19,370 | 144,214 | ||
| Lewis Bequest | 409,647 | 6,743 | (6,025) | 62,008 | 472,373 | ||
| Trustees Discretionary |
Fund | 109,048 | 12,772 | (1,604) | 16,507 | 136,723 | |
| Total unrestricted funds |
646,663 | 26,073 | (17,311) | 97,885 | 753,310 | ||
| Restricted funds | |||||||
| General Endowment |
Fund | 3,619 | 70 | (38) | 547 | 4,198 | |
| Loosley Endowment | Fund | 43,467 | 716 | (471) | 6,580 | 50,292 | |
| Pearson Bursary Fund | 2,945 | 48 | (1,382) | 446 | 2,057 | ||
| Ward's Scholarship | Fund | 55,449 | 913 | (2,101) | 8,393 | 62,654 | |
| J H Edwards Bequest Fund | 17,501 | 288 | (190) | 2,649 | 20,248 | ||
| Sibly Scholarship Fund |
19,451 | 320 | (211) | 2,944 | 22,504 | ||
| Wilson Scholarship | Fund | 12,420 | 204 | (135) | 1,880 | 14,369 | |
| Selwyn Bursary Fund |
72,490 | 1,193 | (2,286) | 10,973 | 82,370 | ||
| Bursaries Fund |
93,030 | 4,531 | (1,009) | 14,082 | 110,634 | ||
| Burnet Ward Bursary | 68,592 | 1,189 | (744) | 10,383 | 79,420 | ||
| Educational Grants |
fund | 1,101 | 18 | (12) | 167 | 1,274 | |
| Honours Boards |
978 | 16 | (11) | 148 | 1,131 | ||
| Prep School Sports | Pavilion | 23,900 | 34 | 23,934 | |||
| Miscellaneous Funds |
2,793 | 46 | (30) | 423 | 3,232 | ||
| Hardship Fund |
1,560 | 590 | (817) | 236 | 1,569 | ||
| Nowak Family Fund |
100,000 | 100,000 | |||||
| Keith Paget Fund | 39,290 | 39,920 | |||||
| Total restricted funds |
419,296 | 149,466 | (9,437) | 59,851 | 619,176 | ||
| Endowment funds |
|||||||
| General Endowment |
Fund | 48,065 | 7,276 | 55,341 | |||
| Loosley Endowment | Fund | 199,320 | 30,171 | 229,491 | |||
| Pearson Bursary Fund | 81,361 | 12,316 | 93,677 | ||||
| Ward's Scholarship | Fund | 72,889 | 11,033 | 83,922 | |||
| J H Edwards Bequest Fund | 38,531 | 5,832 | 44,363 | ||||
| Sibly Scholarship Fund |
49,246 | 7,454 | 56,700 | ||||
| Wilson Scholarship | Fund | 22,176 | 3,357 | 23,533 | |||
| Total endowment | funds | 511,588 | 77,439 | 589,027 | |||
| Total funds | 1,577,547 | 175,539 | (26,748) | 235,175 | 1,961,513 |
| Balance | ||||||
|---|---|---|---|---|---|---|
| Balance | Investment | 31 | ||||
| 1 September | Incoming | Resources | Gains | August | ||
| 2019 | Resources | Expended | l(losses) | 2020 | ||
| Unrestricted funds |
||||||
| General Fund |
146,714 | 2,922 | (19,443) | (2,225) | 127,968 | |
| Lewis Bequest | 413,523 | 8,234 | (5,838) | (6,272) | 409,647 | |
| Trustees Discretionary | Fund | 108,640 | 3,680 | (1,624) | (1,648) | 109,048 |
| Total unrestricted funds |
668,877 | 14,836 | (26,905) | (10,145) | 646,663 | |
| Restricted funds | ||||||
| General Endowment Fund |
3,632 | 72 | (30) | (55) | 3,619 | |
| Loosley Endowment Fund |
43,648 | 869 | (388) | (662) | 43,467 | |
| Pearson Bursary Fund |
4,159 | 83 | (1,234) | (63) | 2,945 | |
| Ward's Scholarship Fund |
57,135 | 1,139 | (2,008) | (867) | 55,449 | |
| J H Edwards Bequest Fund |
17,574 | 350 | (156) | (267) | 17,501 | |
| Sibly Scholarship Fund |
19,532 | 389 | (174) | (296) | 19,451 | |
| Wilson Scholarship Fund |
12,472 | 248 | (111) | (189) | 12,420 | |
| Selwyn Bursary Fund |
74,127 | 1,476 | (1,989) | 1,124) | 72,490 | |
| Bursaries Fund |
93,417 | 1,860 | (830) | (1,417) | 93,030 | |
| Burnet Ward Bursary | 68,717 | 1,528 | (611) | (1,042) | 68,592 | |
| Educational Grants fund |
1,106 | 22 | (10) | (17) | 1,101 | |
| Honours Boards |
881 | 118 | (8) | (13) | 978 | |
| Prep School Sports Pavilion | 23,568 | 332 | 23,900 | |||
| Miscellaneous Funds |
2,805 | 56 | (25) | (43) | 2,793 | |
| Hardship Fund |
12,560 | (11,000) | 1,560 | |||
| Total restricted funds |
422,823 | 21,102 | (18,574) | (6,055) | 419,296 | |
| Endowment funds |
||||||
| General Endowment Fund |
48,805 | (740) | 48,065 | |||
| Loosley Endowment Fund |
202,390 | (3,070) | 199,320 | |||
| Pearson Bursary Fund |
82,604 | (1,253) | 81,361 | |||
| Ward's Scholarship Fund |
74,012 | (1,123) | 72,889 | |||
| J H Edwards Bequest Fund | 39,124 | (593) | 38,531 | |||
| Sibly Scholarship Fund |
50,004 | (758) | 49,246 | |||
| Wilson Scholarship Fund |
22,518 | (342) | 22,176 | |||
| Total endowment funds |
519,467 | (7,879) | 511,588 | |||
| Total funds | 1,611,167 | 35,938 | (45,479) | (24,079) | 1,577,547 |