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|||Page|
|---|---|---|
|Trustees and advisers|||
|Report ofthe Trustees|||
|Independent
auditor's|report||
|Statement
offinancial|activities||
|Balance sheet||12|
|Notes to the financial|statements|13|
|TRUSTEES|||||||||
|---|---|---|---|---|---|---|---|---|
|The trustees|who served during|the year were:|||||||
|Chairman:||Mr S F M Lloyd BSc(Hons)||||Est Man,|MRICS||
|Trustees:||Brigadier (Retd)||RJ Bacon,||MBA, Chartered||FCIPD, FCMI, CMILT|
|||Mrs CJ Duckworth|||MA (Hons)||||
|||Mr N J Gregory,||BA, Med|||||
|||Mr A RTaylor|MA (Cantab)|||(appointed|21 August 2023)||
|||Mr T P Wood,|BA (Hons), FCA (retired 4 August 2023)||||||
|Secretary:||Mr A RTaylor|MA (Cantab)|||(appointed|21 August 2023)||
|||Mr T P Wood,|BA (Hons), FCA (retired 4 August 2023)||||||
|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|||||||
|||Gloucesters hire|||||||
|||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|||||||
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|||Note|Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||Funds|Funds|2023|2022|
||||2023|2023||f.|
||||E||||
|Income and endowments|||||||
|from:|||||||
|Voluntary
sources|||||||
|Donations
and|||||||
|legacies|||3,001|1,060|4,061|110,637|
|Investments|||12,905|21,467|34,372|19,318|
|Total income and|||||||
|endowments|||15,906|22,527|38,433|129,955|
|Expenditure
on:|||||||
|Raising funds|||(4,676)|(7,755)|(12,431)|(12,616)|
|Charitable
activities|||(53,055)|(75,525)|(128,580)|(72,566)|
|Total expenditure|||(57,731)|(83,280)|(141,011)|(85,182)|
|Net Incoming
funds from|||||||
|operations
before|||||||
|investment
gains|||(41,825)|(60,753)|(102,578)|44,773|
|Net (losses)/gains
on|||||||
|Investment
assets|||(7,402)|(12,314)|(19,716)|(71,804)|
|Net (expenditure)/income|||(49,227)|(73,067)|(122,294)|(27,031)|
|Transfers
between|funds|11|||||
|Net movements
in|funds||(49,227)|(73,067)|(122,294)|(27,031)|
|Reconciliation
offunds|||||||
|Total funds brought|forward||685,228|1,249,254|1,934,482|1,961,513|
|Total funds carried|||||||
|forward|||636,001|1,176,187|1,812,188|1,934,482|
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||||||2023|2022|
|---|---|---|---|---|---|---|
|||||Notes|F||
|FIXEDASSETS|||||||
|Investments|||||1,910,332|1,908,251|
|CURRENT|ASSETS||||||
|Cash at bank and||in|hand||32,120|31,318|
|Creditors:|Amounts||falling due within one year||130,264|5,087|
|Net current assets|||||(98,144)|26,231|
|Net assets|||||1,812,188|1,934,482|
|||||10|||
|Funds|||||||
|Unrestricted|funds|||11|636,001|685,228|
|Restricted|funds|||11|1,176,187|1,249,254|
|Endowed
funds||||11|||
||||||1,812,188|1,934,482|
|Total funds|||||||
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|4|Donations|and|legacies||||||
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Endowed|Total|
||||||2023|2023|2023|2023|
||Donations||||3,001|1,060||4,061|
||||||Unrestricted|Restricted|Endowed|Total|
||||||2022|2022|2022|2022|
|||||||f|f||
||Donations||||10,577|100,060||110,637|
|5|Expenditure||||||||
||||||Unrestricted|Restricted|Endowed|Total|
||||||2023|2023|2023|2023|
||Expenditure|on|raising funds:||||||
||Investment|management||costs|4,676|7,755||12,431|
||Expenditure|on|charitable|activities:|||||
||Scholarships|and bursaries|||51,255|75,525||126,780|
||Governance|costs|||1,800|||1,800|
||Total charitable||expenditure||53,055|75,525||128,580|
||Total expenditure||||57,731|83,280||141,011|
||||||Unrestricted|Restricted|Endowed|Total|
||||||2022|2022|2022|2022|
|||||||f|f||
||Expenditure|on|raising funds:||||||
||Investment|management||costs|4,650|7,966||12,616|
||Expenditure|on|charitable|activities:|||||
||Scholarships|and bursaries|||50,851|18,715||69,566|
||Governance|costs|||3,000|||3,000|
||Total charitable||expenditure||53,851|18,715||72,566|
||Total expenditure||||58,501|26,681||85,182|
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|Governa|nce
costs rep|rese|nt
th|e support costs ofthe charity an|d these can be summarised
as fo|llows:|
|---|---|---|---|---|---|---|
||||||2023|2022|
|Auditor's|remuneration|for|audit|services|1,800|3,000|
##
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||||2023|2022|
|---|---|---|---|---|
|Market value at 1"September|||1,868,392|1,866,572|
|Additions|||63,485|1,417,582|
|Disposals|||(42,481)|(1,343,958)|
|Realised|gains/(losses)|on disposals|1,212|9,821|
|Unrealised|gains/(losses)|on revaluation|(20,578)|(81,625)|
|Market value at31"August|||1,870,030|1,868,392|
|Cash on deposit|||40,302|39,859|
||||1,910,332|1,908,251|
##
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|Creditor|s: am|oun|ts
due|in one year|||
|---|---|---|---|---|---|---|
||||||2023f|2022|
|Amounts|owed|to|related|party|127,264|2,087|
|Accruals|||||3,000|3,000|
||||||130,264|5,087|
##
|||||||Fund|
|---|---|---|---|---|---|---|
||||Current|Current||Balances|
|||Investments|Assets|Liabilitiesf|Transfers|2023|
|Unrestricted|funds|683,723|82,542|(130,264)||636,001|
|Restricted|funds|1,226,609|(50,422)|||1,176,187|
|Endowment|funds||||||
|||1,910,332|32,120|(130,264)||1,812,188|
|||||||Fund|
|||||Current|Current|Balances|
||||Investments|Assets|Liabilities|2022|
|Unrestricted|funds||728,981|(38,666)|(5,087)|685,228|
|Restricted|funds||590,243|69,984||1,249,254|
|Endowment|funds||589,027||||
||||1,908,251|31,318|5,087|1,934,482|
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||Balance|||Investment|Balance|
|---|---|---|---|---|---|
||1 September|Incoming|Resources|Gains/|31August|
||2022|Resources|Expended|(losses)|2023|
|Unrestricted
funds||||||
|General
Fund|134,282|3,921|(6,640)|(1,417)|130,147|
|Lewis Bequest|422,219|8,244|(42,046)|(4,642)|383,775|
|Trustees
Discretionary
Fund|128,726|3,741|(9,045)|(1,343)|122,079|
|Total unrestricted
funds|685,228|15,906|(57,731)|(7,402)|636,001|
|Restricted funds||||||
|General
Endowment
Fund|61,266|145|(52)|(84)|61,275|
|Loosley Endowment
Fund|276,510|1,744|(630)|(1,000)|276,624|
|Pearson Bursary Fund|95,600|71|(7,176)|(41)|88,454|
|Ward's Scholarship
Fund|140,410|2,650|(2,277)|(1,234)|139,549|
|J H Edwards Bequest Fund|63,293|702|(12,253)|(403)|51,339|
|Sibly Scholarship
Fund|77,740|781|(282)|(448)|77,791|
|Wilson Scholarship
Fund|36,967|498|(180)|(286)|36,999|
|Selwyn Bursary
Fund|72,010|2,856|(3,531)|(1,638)|69,697|
|Bursaries
Fund|103,434|3,836|(1,386)|(2,200)|103,684|
|Burnet Ward Bursary|70,097|2,814|(5,120)|(1,579)|66,212|
|Educational
Grants fund|1,191|544|(16)|(25)|1,694|
|Honours
Boards|1,057|39|(14)|(22)|1,060|
|Prep School Sports Pavilion|22,376|830|(300)|(476)|22,430|
|Miscellaneous
Funds|3,022|112|(40)|(64)|3,030|
|Hardship
Fund|1,467|54|(20)|(31)|1,470|
|Nowak Family Fund|188,492|3,467|(46,503)|(1,989)|143,467|
|Keith Paget Fund|34,322|1,384|(3,500)|(794)|31,412|
|Total restricted funds|1,249,254|22,527|(83,280)|(12,314)|1,176,187|
|Endowment
funds||||||
|General
Endowment
Fund||||||
|Loosley Endowment
Fund||||||
|Pearson
Bursary Fund||||||
|Ward's Scholarship
Fund||||||
|J H Edwards Bequest Fund||||||
|Sibly Scholarship
Fund||||||
|Wilson Scholarship
Fund||||||
|Total endowment
funds||||||
|Total funds|1,934,482|38,433|~141,011|19,716|1,812,188|
##
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||Balance||||||
|---|---|---|---|---|---|---|
||1||||Investment|Balance|
||September|Incoming|Resources||Gains/|31 August|
||2021|Resources|Expended|Transfers|(losses)|2022|
|Unrestricted
funds|||||||
|General
Fund|144,214|4,512|(9,164)||(5,279)|134,282|
|Lewis Bequest|472,373|7,586|(40,448)||(17,292)|422,219|
|Trustees Discretionary
Fund|136,723|5,897|(8,889)||(5,005)|128,726|
|Total unrestricted
funds|753,310|17,995|~58,501||27,576|685,228|
|Restricted funds|||||||
|General
Endowment
Fund|4,198|81|(54)|57,341|(300)|61,266|
|Loosley Endowment
Fund|50,292|967|(647)|229,491|(3,592)|276,510|
|Pearson Bursary Fund|2,057|40|(26)|93,677|(147)|95,600|
|Ward's Scholarship
Fund|62,654|1,192|(2,298)|83,922|(4,430)|140,410|
|J H Edwards Bequest Fund|20,248|389|(260)|44,363|(1,446)|63,293|
|Sibly Scholarship
Fund|22,504|433|(290)|56,700|(1,607)|77,740|
|Wilson Scholarship
Fund|14,369|276|(185)|23,533|(1,026)|36,967|
|Selwyn Bursary Fund|82,370|1,583|(6,060)||(5,884)|72,010|
|Bursaries
Fund|110,634|2,126|(1,423)||(7,903)|103,434|
|Burnet Ward Bursary|79,420|1,586|(5,237)||(5,673)|70,097|
|Educational
Grants fund|1,274|24|(16)||(91)|1,191|
|Honours
Boards|1,131|22|(15)||(81)|1,057|
|Prep School Sports Pavilion|23,934|460|(308)||(1,710)|22,376|
|Miscellaneous
Funds|3,232|62|(42)||(231)|3,022|
|Hardship
Fund|1,569|30|(20)||(112)|1,467|
|Nowak Family Fund|100,000|101,922|(6,286)||(7,143)|188,492|
|Keith Paget Fund|39,920|767|(3,514)||(2,852)|34,322|
|Total restricted
funds|619,176|111,960|~26,681|589,027|44,228|1,249,254|
|Endowment
funds|||||||
|General
Endowment
Fund|57,341|||(57,341)|||
|Loosley Endowment
Fund|229,491|||(229,491)|||
|Pearson Bursary Fund|93,677|||(93,677)|||
|Ward's Scholarship
Fund|83,922|||(83,922)|||
|J H Edwards Bequest Fund|44,363|||(44,363)|||
|Sibly Scholarship
Fund|56,700|||(56,700)|||
|Wilson Scholarship
Fund|23,533|||(23,533)|||
|Total endowment
funds|589,027|||589,027)|||
|Total funds|1,961,513|129,955|~85,182||71,804|1,934,482|
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