1 2 3 - - - - 4 5 - - - 6 - - - - - 7 8 The Guildhall School Trust The Trust supports the School's mission to provide scholarships and pastoral support to exceptionally talented students, relieving financial, social and physical barriers to their training Studentr kholarships Income raised throllgh the Trust contributed to 578 scholaiships for undergradllate and p)stgraduaiestlldent5 at the School. This Vlt21 sUPPOrt ha5 enabled the School to continue to deliver world-cl255 piofes5ional trainirtg to the rtext generation tsf musician5, actors and production artists. It has provided hundreds of siudent5 Wlth the mean8 10 live and study in IA)ndon, widened horizons, created unrivalled opportunities and enabled the Schi)ol's international communiry to adapt and flourish despite the impact of aglobal pandemic. Takiyah: firsl year Produ¢lion Arts student I feel incredibly forrunaie to have received support through Guildhall School's Scholarship5 programme. This financial help has quite simply given me freedorn-freedom to focus on things other than how io pay rent or travel costs andjuggle pait-time jobs. I have had the head space and Mental agility to apply myself fully to my le2rning and the tonfidence to try new thiTW and get involyed in projects I could never have committed to had I been having ro hold down yaid work. A5 a more mature Student, I was worried xbout the effect my return to education would have on my life, but the support I've received has alleviated this anxiery and enabled me to Seize every opp0M￿lty. Even with the extra challenges of ayear in lockdowN I've been able to rent the flat I needed, and tontinlle honouring other cotnmitment5 a5 ayouth meThtOT events manager in Hackney- and Still been able to afford to eat more than instant noodLesl I've had the means to travel regularly into Guildhall for practical lesson5 in LX fo(wing* rigging and projection mapping? as well as to our theatre to shadow other Students and help with fit UP5 and strikes of event5 at evenings and weekends, and to Vi5Lt places of interest on my course. I have indulged my creatisryry on all sorts of project5 in soun(L lightingi and video projectLOn, and seen my technical abilities transformed through these experience5. I have gained the confidence io place myself within the industry? believing in my own credentials as a theatre technician, and improvingrny career prospects more than I ever imagined. I have forged really interesting relation5hipS7 experienced the ener￿ OE brilliant colleagues 2nd knowledgeable, apprtsathable leeturer5. I cannor thank Guildhall supponers like Hugh Vanstone enougmwho give myself and other scholars these opporrunitie5, and the freedom to grab them with both hands. Hugh Vanstone is one of the UK'5 forem05t lighting designer5 10 The Guildhall School Trust The Trust supports the School's mission to deliver distinctive degree programmes enabling the School's artists to be world-class Guildhall School training equips students to make their rnark as ac(x)mplishedperforming and pr(Kluction anis14 tOmPOsers and writers, theatre maker4 treative entrepreneur5 2nd teacher5. Students are challengedto woIk to professional standards in a worl&cla5s coniexi, drawing on the insights and skills of internatitsnally renownedariists thd pr2rtitioners. Income raised through ihe Trust has enabled a variery of anistic projects, directly supponing Guildhall School'5 Studen Enhan**Income and Endowments from:**
_Donations and Legacies_
Grants and Donations for Scholarships
Other Grants and Donations
Prizes
Bequests and Endowed gifts
**4**
Membership
Donated Services
_Investment Income_
**Total income**
**Resources expended**
_Expenditure on raising funds_
Investment Management Fees
_Expenditure on Charitable Activities_
Scholarship grants to Guildhall
Grants for Non Scholarship Activity
Prizes
Support Costs
**Total resources expended**
**5**
**Net (expenditure) / income**
**Transfers between funds**
**Adjustment for gains / (losses) on Investments**
**Net Movement In Funds**
**Balance brought forward**
**Balance carried forward**
**10**|**Unrestricted**
**funds**
**Restricted**
**funds**
**Endowment**
**funds**
**Total Funds**
**Jul 2021**
**£**
**£**
**£**
**£**
-
838,260
-
838,260
100,711
169,950
-
270,661
-
15,150
-
15,150
-
-
410,199
410,199
3,653
-
-
3,653
51,312
-
-
51,312
10,351
33,242
312,731
356,324
**166,027**
**1,056,602**
**722,930**
**1,945,559**
-
-
12,527
12,527
611,109
870,554
258,337
1,740,000
14,288
139,447
10,456
164,191
-
4,400
-
4,400
78,942
-
-
78,942
**704,339**
**1,014,401**
**281,320**
**2,000,060**
**(538,312)**
**42,201**
**441,610**
**(54,501)**
**-**
**410,743**
**(410,743)**
**-**
**32,516**
**111,675**
**1,006,784**
**1,150,975**
**(505,796)**
**564,619**
**1,037,651**
**1,096,474**
**1,167,306**
**911,451**
**9,338,571**
**11,417,328**
**661,510**
**1,476,070**
**10,376,222**
**12,513,802**|**Unrestricted**
**funds**
**Restricted**
**funds**
**Endowment**
**funds**
**£**
**£**
**£**
-
707,990
-
91,730
170,050
17,371
-
2,500
-
20,000
-
45,000
35,576
-
-
50,306
-
-
55,911
30,451
324,464
**253,523**
**910,991**
**386,835**|**Total Funds**
**July 2020**| |---|---|---|---| ||||**£**
707,990
279,151
2,500
65,000
35,576
50,306
410,826
**1,551,349**| |||2,475
3,208
28,787
683,578
813,949
340,000
45,543
154,940
-
-
2,500
-
78,261
-
-|34,470
1,837,527
200,483
2,500
78,261| |||**809,857**
**974,597**
**368,787**|**2,153,241**| |||**(556,334)**
**(63,606)**
**18,048**
**(601,892)**
**(43,857)**
**(41,569)**
**(361,266)**
**(446,692)**
**(600,191)**
**(105,175)**
**(343,218)**
**(1,048,584)**
**1,767,497**
**1,016,626**
**9,681,789**
**12,465,912**|| |||**1,167,306**
**911,451**
**9,338,571**
**11,417,328**|| 24 |£
£
**FIXED ASSETS:**
Investments
6
11,565,355
Endowment Bank account
731,043
**Total Fixed Assets**
12,296,398
**CURRENT ASSETS:**
Debtors and prepayments
8
48,808
Cash at bank and in hand
509,168
Total Current assets
557,976
**CURRENT LIABILITIES:**
Creditors: Amounts falling due within one year
9
(340,572)
**NET CURRENT ASSETS**
217,404
**NET ASSETS**
12,513,802
**THE FUNDS OF THE CHARITY**
**CAPITAL FUNDS**
Endowments
10,11
10,376,222
**INCOME FUNDS**
Restricted Funds
10,11
1,476,070
**UNRESTRICTED FUNDS**
General Funds
10,11
661,510
12,513,802
31st July 2021|£
£
**FIXED ASSETS:**
Investments
6
11,565,355
Endowment Bank account
731,043
**Total Fixed Assets**
12,296,398
**CURRENT ASSETS:**
Debtors and prepayments
8
48,808
Cash at bank and in hand
509,168
Total Current assets
557,976
**CURRENT LIABILITIES:**
Creditors: Amounts falling due within one year
9
(340,572)
**NET CURRENT ASSETS**
217,404
**NET ASSETS**
12,513,802
**THE FUNDS OF THE CHARITY**
**CAPITAL FUNDS**
Endowments
10,11
10,376,222
**INCOME FUNDS**
Restricted Funds
10,11
1,476,070
**UNRESTRICTED FUNDS**
General Funds
10,11
661,510
12,513,802
31st July 2021|£
£
10,414,380
823,175
11,237,555
41,367
499,126
540,493
(360,720)
179,773
11,417,328
9,338,571
911,451
1,167,306
11,417,328
31st July 2020| |---|---|---| ||12,513,802|| ||10,376,222
1,476,070
661,510|| ||12,513,802|| 14 December 2021 25 |Notes
**Cash outflow from Operating Activities:**
Net cash used in operating activities
**A**
**Cash inflow from investing activites:**
Dividends and interest from investments
Proceeds from disposals
Purchase of investments
**Net Cash provided by investing activities**
Change in cash and cash equivalents in year
**Cash and cash equivalents at 1st August 2020**
B
**Cash and cash equivalents at 31st July 2021**
B
Notes to cash flow statement for the year to 31st July 2021
A) Reconciliation of net movement in funds to net cash flow from operating activities
**Net movement in funds (as per the statement of activities)**
(Gains) / Losses on investments
Distributions from Investments
(Increase) / Decrease in debtors
(Decrease) / Increase in creditors
**Net Cash used in operating activities**
B) Analysis of cash and cash equivalents
Cash at Hand and in Bank
Cash held in endowment bank account
Cash held by Investment Managers
Total cash and cash equivalents|**Jul 2021**
**£**
(451,778)
374,604
552,942
(572,452)
355,094
(96,684)
1,495,217
1,398,533
Jul 2021
£
1,096,474
(1,150,975)
(369,688)
(7,441)
(20,148)
(451,778)
509,168
731,043
158,322
1,398,533|**Jul 2020**
**£**
(170,219)
402,849
5,807,430
(5,795,184)| |---|---|---| |||415,095| |||244,876
1,250,341| |||1,495,217| |||Jul 2020
£
(1,048,584)
446,692
(320,378)
632,013
120,038| |||(170,219)| |||499,126
823,175
172,916| |||1,495,217| 26 - - 27 - 28 - 29 |**Permanent Endowment:**
Sally Michael Cohen
Berthe Wallis Scholarship
Others under £10,000 *
**Expendable Endowment:**
Jane Ades Ingenuity Scholarship
Eleanor Van Zandt
Harry Rabinowitz Memorial Scholarship
Margaret Easton Scholarship
Ariadne Van de Ven
Unrestricted Funds:
George Law
**Total Gifts & Bequests**|**31 July 2021**
£
-
56,848
-
3,235|**31 July 2020**| |---|---|---| |||
**£**
45,000
-
-
-| ||**60,083**|**45,000**| ||57,300
29,280
20,460
200,000
43,076|-
-| ||**350,116**
**-**|**-**| ||-|20,000| ||**-**|**20,000**| |||| ||**410,199**|**65,000**| * endowment gifts of under £10,000 reflect top-up gifts to existing endowment funds 30 |**Expenditure on Raising Funds**
Fundraising & Events
Investment Management Fees
**Charitable activities**
Scholarship Grant to Guildhall School
Grants for Non Scholarship Activity
Prizes
Support Costs
**Total Expenditure**
**Support Costs can be further analysed as:**
Audit Fees
Other Costs
Staff costs and other Related Costs|**Other**
**Donated Service**
**31 July 2021**
**£**
**£**
**£**
-

-
-

12,527

-
12,527

**12,527**

**-**
**12,527**

1,740,000

-
1,740,000

153,735

-
153,735

4,400

-
4,400

38,086
51,312
89,398


**1,936,221**
**51,312**
**1,987,533**|**31 July 2020**
**£**
-
34,470
**34,470**
1,837,527
200,483
2,500
78,261

**2,118,771**| |---|---|---| |||| ||**1,948,748**
**51,312**
**2,000,060**
11,440
-
11,440
25,596
-

25,596
1,050
51,312
52,362
**38,086**
**51,312**

**89,398**|**2,153,241**
11,440
16,370
50,451
**78,261**| |**Investments at start of year**
Interest & Dividends
Acquisitions
Disposals
Gains / (Losses) on disposal
Unrealised gains/(losses)
Distributions
Management Charges
Investments held
**Cash Deposits**
**Historic Cost at 31 July**||**31 July 2021**
**£**
10,414,380
374,604
572,452
(552,942)
(10,948)
1,121,181
(340,845)
(12,527)
**11,565,355**
731,043
**12,296,398**
9,982,220|**31 July 2020**| |---|---|---|---| ||||
**£**
10,861,072
402,849
5,795,184
(5,807,430)
(491,467)
62,027
(373,386)
(34,469)| ||||**10,414,380**
823,175| ||||**11,237,555**| ||||9,948,973| 31 |Gift Aid & Other Debtors
Funds Held by City of London
Legacy bequest
Amounts due to GSMD
Other Accruals
Bursary Grant Creditors
Deferred income|| |---|---| ||| |At 1 August 2019
Income
Expenditure
Gains / (Losses) on Investments
**At 31 July 2020**
Income
Expenditure
Gains / (Losses) on Investments
Transfers
**At 31 July 2021**|**Permanent**
**Restricted**
**Endowments**
**Permanent**
**Unrestricted**
**Endowments**
**Expendable**
**Endowments**
**_Subtotal_**
**_Endowments_**
**Unrestricted**
**Funds**
**Restricted**
**Funds -**
**Scholarships**
**Restricted**
**Funds - Prizes**
**Total Funds**
8,022,779
1,059,010
600,000
_9,681,789_
1,767,497
1,001,928
14,698
12,465,912
316,369
66,847
3,619
_386,835_
253,523
908,491
2,500
1,551,349
(368,787)
-
-
_(368,787)_
(809,857)
(972,097)
(2,500)
(2,153,241)
(334,168)
(23,048)
(4,050)
_(361,266)_
(43,857)
(41,548)
(21)
(446,692)
**7,636,193**
**1,102,809**
**599,569**
**9,338,571**
**1,167,306**
**896,774**
**14,677**
**11,417,328**| |---|---| ||409,943
37,130
275,857
_722,930_
166,027
1,041,452
15,150
1,945,559
(225,633)
(37,130)
(18,557)
_(281,320)_
(704,339)
(1,010,001)
(4,400)
(2,000,060)
819,708
124,736
62,340
_1,006,784_
32,516
109,758
1,917
1,150,975
(410,743)
-
-
_(410,743)_
-
311,988
98,755
-
**8,229,468**
**1,227,545**
**919,209**
**10,376,222**
**661,510**
**1,349,971**
**126,099**
**12,513,802**| - - - - - - 32 |**Barbara**
**Stringer**
**Scholarship**
**Fund**
**Derek Butler**
**Trust Fund**
**£**
**£**
Opening Balance at 1 August 2020
672,244
567,012
Income
22,149
18,682
Investment gains
74,406
62,759
Dispersals
(22,149)
(18,682)
Closing Balance at 31 July 2021
**746,650**
**629,771**
**Unrestricted**
**Restricted**
**Endowment**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
**Fund balances at 31 Jul 2021**
**are represented by:**
Investments
412,609
1,554,663
10,329,126
Debtors
43,782
5,001
25
Cash
216,559
245,538
47,071
Current Liabilities
(11,440)
(329,132)
-
661,510
1,476,070
10,376,222
**Unrestricted**
**Restricted**
**Endowment**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
**Fund balances at 31 Jul 2020**
**are represented by:**
Investments
1,052,804
1,313,457
8,871,294
Debtors
25,245
16,122
-
Cash
100,697
(68,848)
467,277
Current Liabilities
(11,440)
(349,280)
-
1,167,306
911,451
9,338,571|**Barbara**
**Stringer**
**Scholarship**
**Fund**
**Derek Butler**
**Trust Fund**
**£**
**£**
Opening Balance at 1 August 2020
672,244
567,012
Income
22,149
18,682
Investment gains
74,406
62,759
Dispersals
(22,149)
(18,682)
Closing Balance at 31 July 2021
**746,650**
**629,771**
**Unrestricted**
**Restricted**
**Endowment**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
**Fund balances at 31 Jul 2021**
**are represented by:**
Investments
412,609
1,554,663
10,329,126
Debtors
43,782
5,001
25
Cash
216,559
245,538
47,071
Current Liabilities
(11,440)
(329,132)
-
661,510
1,476,070
10,376,222
**Unrestricted**
**Restricted**
**Endowment**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
**Fund balances at 31 Jul 2020**
**are represented by:**
Investments
1,052,804
1,313,457
8,871,294
Debtors
25,245
16,122
-
Cash
100,697
(68,848)
467,277
Current Liabilities
(11,440)
(349,280)
-
1,167,306
911,451
9,338,571|**Total**
**31 July 2021**| |---|---|---| |||
**£**
12,296,398
48,808
509,168
(340,572)| ||661,510
1,476,070
10,376,222|12,513,802| ||**Unrestricted**
**Restricted**
**Endowment**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
1,052,804
1,313,457
8,871,294
25,245
16,122
-
100,697
(68,848)
467,277
(11,440)
(349,280)
-|**Total**
**31 July 2020**| |||
**£**
11,237,555
41,367
499,126
(360,720)| ||1,167,306
911,451
9,338,571|11,417,328| |Unrealised gains at 1 August
Net gains / (losses) on revaluation arising in the year
Gains / (Losses) in respect to disposals in the year
Unrealised gains at 31 July|31 July 2021
31 July 2020
**£**
**£**
465,407
827,857
1,150,975
(446,692)
(33,247)
84,242
1,583,135
465,407| |---|---| 33 |**Donor**
Arlene Beare
Celia Atkin
Hamish & Sophie Forsyth Charitable Trust
Independent Opera at Sadler's Wells
John Pelham
Sophie's Silver Lining Fund|**31 July 2021**
**31 July 2020**
**£**
**£**
5,000
-
5,000
-
500
-
-
5,000
500
-
2,500
2,500
13,500
7,500| |---|---| 34