2023-03-31-accounts - The Wulfris Educational Foundation

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		Page
Report ofthe trustees		2-4
Report ofthe auditors		5-7
Statement offinancial	activities
Balance sheet
Notes forming part ofthe financial statements		10—13
Detailed statement offinancial activities		14

Reference	and administrative	and administrative
Trustees			RHarris - Chairman
			A JAskham
			Ms C Cunio
			Ms LForster
			Mrs KVowles
			Councillor DPaffey (resigned 31.05.23)
			Councillor A Winning	(appointed 01.06.23)
Charity No			1079137
Clerk to the		trustees	DA Hoare F.C.A. (retired 01.09.23)
			N JLapage A.C.A. (appointed 01.09.23)
Principal	otIIce		Ashton House
			12The Precinct
			Winchester Road
			Chandlers Ford
			Eastleigh SO53 2GB
Accountants			Secretarial Law Ltd
			Ashton House
			12The Precinct
			Winchester Road
			Chandlers Ford
			Eastleigh SO53 2GB
Auditors			Westlake Clark Audit	LLP
			7 Lynwood Court
			Priestlands Place
			Lymington SO41 9GA
Bankers			Lloyds Bank pic
			Above Bar Street
			Southampton SO147DT
Solicitors			Abels
			6 College Place
			London Road
			Southampton SO152XL
Investment		managers	Rathbones
			Fiennes House
			32 Southgate Street
			Winchester SO23 9EH

								2023				2022
						Unrestricted Funds						Total
Note					Capital			income		Total		Funds
	Income and Endowments		from:
2	Investments Grants receivable						42,540 ~25 000		42,540 ~25 000			29,793
	Total income						~67 540		~67540		~29 793
	Expenditure on:
3 4	Raising funds Charitable activities			(	2,728)		( 712) (~35i71		( 3,440) (~35 171		( 9,930) ~3tl 940
	Total expenditure			(	2728)		(	35883)	(~38611)		(~40 870
6 7	Revaluation loss Net (loss)/gains	on investment on investments	property	( 9,375) (~27 067					( 9,375) (~27067)		~7 884
	Net movement	in funds		(	39,170)			31,657	(	7,513)	(	3,193)
	Reconciliation	offunds
	Total funds brought forward				752453			95,236		847,489		850,682
11	Total funds carried forward				713,083			126,893		839,976		847,489

		Balance S	heet as at31stMarch 2023
					2022
Notes
	Fixed assets
6 7	Investment pmperty Investments			406750 ~333 81	415,625 ~366 355
				739,531	~781 980
	Current assets
8	Debtors Cash at bank		2,570 ~115338		2,450 ~79 351
			117,908		81,801
9	Current liabilities: Creditors		~17463		~16292
	Net current	assets		100,445	65,509
10	Total net assets			839,976	847,489
	Funds
11 11	Unrestricted Unrestricted	capita1 income		713,083 126,893	752353 95436
				839,976	847,489

	(k)	Judgements in applying	Judgements in applying	accounting	accounting	policies and key sources ofestimation	policies and key sources ofestimation	policies and key sources ofestimation	policies and key sources ofestimation	policies and key sources ofestimation	uncertainty	uncertainty
		Estimates aud judgements		are	continually		evaluated aud	are based	on	historical		experience		and other factors,
		including expectations	offuture		events	that	are believed to	be reasonable		under	the	circumstances.			Although		these
		estimates are management's		best knowledge			ofthe amount,	events or	actions, actual			amounts	ultimately			may differ
		fiom those estimates.
												2023					2022
2	Investment income
	Rents receivable											32,500					15,148
	Dividends —equities											10,009					12,526
	Interest —fixed interest securities											31					2 119
												42 540					29 793
3	Expenditure on raising		funds
	Stock market investments:
	Investment management		fees									2,728					3,003
	Property costs:
		Rates															2,994
		Insurance									(	158)					76
		Occupancy													(		500)
		Professional fees										725					3,618
		VAT paid										145					739
												3 440					9 9311
4	Expenditure on charitable			activities
	Grants paid and authorised:											g
		Grants under f1,000 benefitting			361 (2022:438) children:							23,311					20,852
		Governance aud support	costs									11860					10088
												35 171					30944
	There is only one charitable		activity		being	the payments ofgrants for the			provision of			school clothing			and	equipment
	for	children in need.
	Governance and support		costs
		Audit fee										1,285					1,391
		Accountancy fc administration										8,306					6,757
		Trustees indemnity insurance										296					296
		Postage/mileage										119					88
		VAT paid										I 854					1556
												11,860					10088

	Mr NILapage was paid f3	00(2022:f300)for bookkeeping services.
6	Investment property			2023		2022
	Investment property: 2,4&	6London Road, Southampton
	Valuation at 1st April 2022			415,625		415,625
	Revaluation loss			9 3757
	Valuation at 31stMarch 2023			406 250		415 625
	The investment property has	been valued by tho trustees at fair value	for existing use.
7	Fixed asset investments	—listed investments
	Market value at 1stApril 2022			366,355		360,861
	Acquisitions at cost and cost adjustment			16,881		150,916
	Proceeds fiom dispossis		(	22,888)	(	153,306)
	(Losses)/gains in the year			27 0671		7 884
	Market value at 31stMarch	2023		333281		366 355
	Investments at market value	comprised:-
	UK equities			304,494		360,449
	Overseas equities			28 787		5 906
	Historicalcostat31stMarch	2023		333281		366 355

	Notes formin art ofthe tntancial st	atements for the ear	ended 31stMa	ended 31stMa	rch	2023
10	Analysis oftotal net assets by fund	Unrestricted capital	Unrestricted income			Total
	Fixed assets - investment property - inveslments Net current assets	406450 333,281 ~26448)		126 893		406,250 333,281 100446
		713083		126 893		839976
11	Outline summary offund movements	Unrestricted capital	Unrestricted income			Total
	Fund balances brought forward Incoming resources Outgoing resources Gains and losses	752,253 ( 2,728) ( 36442)	(	95,236 67,540 35,883)	( (	847,489 67,540 38,611) 36 442)
	Fund balances carried forward	713 083		126 893		839976