2023-07-31-accounts - Westhill Endowment

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Pro reason strat	Pro reason strat	Pro reason strat		forthe earended31Jul	forthe earended31Jul	forthe earended31Jul	forthe earended31Jul	forthe earended31Jul		2023	2023
The following table sets out what						Westhill			planned			to do at the start of the financial year and the progress			made
against	these objectives.
	What Westhill			said	it would	do							What progress Westhill made against these
	in 2022/2023												objectives in 2022/2023
1.	Allocate	a minimum			of6300,000for grants.								55 grants were awarded with a total value of
													F299,629 (c.f.42 grants totalling F299,340 in
													2021/2022). There have again been more grants
													given to smaller community cohesion projects
													rather than larger RE projects.
2.	Review	of Westhill's			Memorandum			and		Articles			A small working party was established to discuss
	ofAssociation.												Westhill's Memorandum and Articles ofAssociation.
													Proposed changes were taken to the Governance
													Committee and then to all trustees with a view to
													future proofing Westhill. Following consultation	with
													stakeholders and a meeting with a charity lawyer	an
													initial draft was sent to the Charity Commission on 18
													May 2023.
3.	Continue		to promote "Create Talk" programme										The programme has been actively promoted during
	and develop new and existing resources.												the year. Two new exhibitions have been launched
													in 2022/2023. The resources material has been
													further developed. The impact and website report
													forms continue to provide detailed feedback to inform
													the charity's strategic development.
4.	Continue		Westhill's		relationships		with		other grant				Communications and networks have been reviewed
	funders	in	the	fields	of religious		education				and		and developed to ensure that grantees remain
	faith-motivated			social action.									supported, together with networking through national
													and local groups. A meeting ofthe Birmingham	Faith
													Leaders took place at Westhill Lodge in July 2023
													followed by an event to showcase Westhill's
													CreateTalk exhibits.

Trustees		Nominating	body					Appointed/Resigned	Appointed/Resigned
Rev 5Coleman		The Baptist	Union	of		Great Britain
Miss 5 Evans	(Chair)	The Central	England			Area Quaker Meeting
Mrs L Hewlett		The National	Governing				Body
		ofthe United Reformed					Church
Dr RJackson-Royal		Christian Education			Movement
Mr A Morris		The National	Governing				Body
		ofthe Methodist		Church
Rev N Roberts		The Baptist Union		of		Great Britain
Rev C Callanan		The United Reformed				Church		-appointed	21June 2023
Rev K Price		The United Reformed				Church		-appointed	21June 2023
Co-opted trustees
Dr A Ahmad
Mr 5Shiva
Mr DSlade
Mr PJ Ullathorne
Mr P White
Trust office manager
Mrs DWebb
Independent	auditor
JW Hinks LLP
Chartered Accountants
and Statutory	Auditors
19 Highfield	Road
Edgbaston
Birmingha m
8153BH

							2023	2022
						Endowment
					Unrestncted	fund—	Total	Total
					fund	expendable	funds	funds
				Notes	E	E	E	E
INCOME AND ENDOWMENTS			FROM
Investment income				3	482,370		482,370	486,378
EXPENDITURE ON
Charitable activities
Religious Education,		Arts and	Community
Cohesion					377,708		377,708	373,447
Support costs					9,558		9,558	8,853
Total					387,266		387,266	382,300
Net gains/(losses) on		investments		12		(630,748)	(630,748)	43,208
NET INCOME/(EXPENDITURE)					95,104	(630,748)	(535,644)	147,286
RECONCILIATION OF		FUNDS
Total funds brought	forward				764,555	14,499,245	15,263,800	15,116,514
TOTAL FUNDS CARRIED FORWARD					859,659	13,868,497	14,728,156	15,263,800

					2023	2022
				Endowment
			Unrestricted	fund—	Total	Total
			fund	expendable	funds	funds
		Notes	f	E	E	E
FIXED ASSETS
Tangible assets		11	5,129		5,129	7,460
Investments
Investments		12	508,718	1&s&68s497	14377215	15,007,953
Investment	property	13	100,000		100,000	100,000
			613,847	13,868,497	14r482,344	15,115,423
CURRENT ASSETS
Debtors		14	89,479		89,479	&5,15&
Investments		15	200,564		200,564	131,453
Cash at bank			188,506		188,506	195,360
			478,549		478,549	411,971
CREDITORS
Amounts falling due within one year		15	(232,737)		(232,737)	(263,594)
NET CURRENT ASSETS			245,812		245,812	148,377
TOTAL ASSETS LESSCURRENT LIABILITIES			859,659	13,868,497	14,728,156	15,263,800
NET ASSETS			859,659	'13,868,497	14,728,156	15,263,800
FUNDS		17
Unrestricted	funds				859,659	764,555
Endowment	funds				13,&68,497	14,499,245
TOTAL FUNDS

INVESTM	ENT	INCOME
				2023	2022
				6	E
Managed	investment fund		income	473,478	481,806
Playing field		rental income		4,463	4,255
Deposit	account interest			4,424	317
Other sundry		investment	income	3
				482,370	486,378

							Grant
							funding of
							activities	Support
							(see note	costs (see
							5)	note 6)	Totals
							E	E	E
Religious	Education,		Arts	and
Community		Cohesion					288,071	89,637	377,708
Support	costs							9,558	9,558
							288,071	99,195	387,266
GRANTS	PAYABLE
								2023	2022
								f	f
Religious	Education,		Arts	and	Community	Cohesion		288,071	287,340

				2023	2022
				f	f
Big Kids				11,500
British & Foreign Bible		Society (over 2years)			21,000
Chaplaincy (University		of Birmingham)		13,418	12,899
Cinnamon Network				10,000
Entraide					20,000
Grace Enterprises	(over 2 years)				20,000
Grassroots Programme				14,850
NASACRE					15,955
OffThe Fence					10,000
Prison Advice & Care Trust (PACT)					20,000
St Gabriel's Centre	(over 2years)				10,000
Swansea Sacre (over 2		years)			12,000
The Mint House				10,070
Total Insight Theatre (over 2 years)					10,000
Transforming Lives	for	Good (TLG)		19,002
Trinity Church				15,000	10,000
Total grants approved		f10,000 and above		93,840	161,854
			Balance carried forward

				2023	2022
				f	E
		Balance brought forward		93,840	161,854
Grants approved between E5,001-f9,999:14(2022:5)				87,911	34,300
Grants approved up tof5,000:34(2022:26)				117,878	103,186
Total grants approved in the year				299,629	299,340
A detailed analysis ofgrants approved	in the year is available		upon request from the trustees.
				2023	2022
				f	E
Grants approved during the year				299,629	299,340
Grants cancelled during the year				(11,558)	(12,000)
Grant funding ofactivities (see note 5)				288,071	287,340
Grants payable at 1August 2022 and 1August		2021		241,623	233,871
				529,694	521,211
Grants paid during the year				(319,741)	(279,588)
Grants payable as at 31July 2023 and 31July 2022 (see note			16)	209,953	241,623

SUPPOR	T COSTS
						Governance
					Management	costs	Totals
					f	E	f
Religious	Education,	Arts	and	Community
Cohesion					89,637		89,637
Support	costs					9,558	9,558
					89,637	9,558	99,195

					2023	2022
					Religious
					Education,
					Arts and
					Community	Total
					Cohesion	activities
					E	E
Wages					36,670	33,409
Pensions					2,751	2,505
Administration		fee			11,525	10,969
Legal, professional			and	other expenses	6,861	13,893
Office costs					9,711	9,175
Marketing					7,784	4,301
Property	related costs				12,004	9,524
Depreciation		oftangible		assets	2,331	2,331
					89,637	86,107
GOVERNANCE		COSTS
					2023	2022
					Support	Total
					costs	activities
					E	f
Trustees'	expenses				61	27
Auditors'	remuneration				6,480	6,240
Trustees'	indemnity		and	other insurance	3,017	2,586
					9,558	8,853

				2023	2022
				E	E
Auditors'	remuneration			6,480	6,240
Depreciation		—owned	assets	2,331	2 331

				2023	2022
				E	E
	Trustees' expenses			61	27
9.	STAFF COSTS
				2023	2022
				E	E
	Wages and salaries			36,670	33,409
	Other pension costs			2,751	2,505
				39,421	35,914
	The average monthly	number of employees	during the year was as follows:
				2023	2022
	Administration			2	2

10.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
						Endowment
					Unrestricted	fund—	Total
					fund	expendable	funds
					f	6	E
	INCOME AND ENDOWMENTS			FROM
	Investment income				486,378		486,378
	EXPENDITURE ON
	Charitable activities
	Religious Education,		Arts and	Community
	Cohesion				373,447		373,447
	Support costs				8,853		8,853
	Total				382,300		382,300
	Net gains on investments					43,208	43,208
	NET INCOME				104,078	43,208	147,286
	RECONCILIATION	OF FUNDS
	Total funds brought		forward		660,477	14,456,037	15,116,514
	TOTAL FUNDS CARRIED FORWARD				764,555	14,499,245	15,263,800
11.	TANGIBLE FIXEDASSETS
							Leasehold
							improvements
							6
	COST
	At 1August 2022 and 31July 2023						53,614
	DEPRECIATION
	At 1August 2022						46,154
	Charge for year						2,332
	At 31July 2023						48,48S
	NET BOOK VALUE
	At 31July 2023						5,129
	At 31July 2022						7,460

						Endowment
					Unrestricted	Fund-		2023	2022
					Fund	expendable
					E	E		F.	E
Market value	at 31July 2022				508,718	14,499,245	15,007,963		14,964,755
Additions at cost
Sale proceeds	on	disposal
Gain/(loss) in	the	year:
—realised
—unrealised						(630,748)	(630,748)		43,208
Market value	at 31July 2023
Historic cost at 31July 2022							8,	8,88
ANALYSIS OF	INVESTMENTS
								2023	2022
								6	E
COIF Charities	Ethical Investment			Fund			12,910,328		13,251,974
Charities Property		Fund					1,466,887		1,755,989
							,3,3
ASSET ALLOCATION OF COIF			CHARITIES		ETHICAL INVESTMENT	FUND
								2023	2022
								5(8	N
UK equities								8.37	10.27
Fixed interest								8.70
Property								3.06	4.90
Cash								4.78	11.83
Overseas equities								66.19	61.82
Infrastructure	and	operating	assets					6.84	7.90
Other								2.06	3.28
								DD.DD

14.	DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
		2023	2022
		E	E
	Accrued income	87,550	83,138
	Prepayments	1,929	2,020
		89,479	85,158
15.	CURRENT ASSET INVESTMENTS
		2023	2022
		6	6
	Cash at bank on deposit		131,453

CREDITORS: AMOUNTS
	2023	2022
	6	6
Grants payable	209,953	241,623
Accrued expenses	22,784	21,971
	232,737	263,594

MOVEMENT	IN FUNDS
			Net
			movement	At
		At 1.8.22	in funds	31.7.23
		f	E	E
Unrestricted	funds
General fund		764,555	95,104	859,659
Endowment	funds
Endowment	fund - expendable	14,499,245	(630,748)	13,868,497
TOTAL FUNDS		15,263,800	(535,644)	14,728,156

			Incoming	Resources	Gains and	Movement
			resources	expended	lasses	in funds
			E	E	f.	E
Unrestricted	funds
General fund			482,370	(387,266)		95,104
Endowment	funds
Endowment	fund	—expendable			(630,748)	(630,748)
TOTAL FUNDS			482,370	(387,266)	(630,748)	(535,644)

				Net
				movement	At
			At 1.8.21	in funds	31.7.22
			E	E	E
Unrestricted	funds
General fund			660,477	104,078	764,555
Endowment	funds
Endowment	fund	—expendable	14,456,037	43,208	14,499,245
TOTAL FUNDS			15,116,514	147,286	15,263,800

			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
				f	f	f
Unrestricted	funds
General fund			486,378	(382,300)		104,078
Endowment	funds
Endowment	fund	—expendable			43,208	43,208
TOTAL FUNDS			486,378	(382,300)	43,208	147,286

			Net
			movement	At
		At 1.8.21	in funds	31.7.23
		f	E	6
Unrestricted	funds
General fund		660,477	199,182	859,659
Endowment	funds
Endowment	fund - expendable	14,456,037	(587,540)	13,868,497
TOTAL FUNDS		15,116,514	(388,358)	14,728,156

		Incoming	Resources	Gains and	Movement
		resources	expended	losses	in funds
		6	E	E	E
Unrestricted	funds
General fund		968,748	(769,566)		199,182
Endowment	funds
Endowment	fund - expendable			(587,540)	(587,540)
TOTAL FUNDS		968,748	(769,566)	(587,540)	(388,358)

	2023	2022
		E
Within one year		4,310
Between two and five years	16,156	17,240
In more than five years		2,685
	16,156	24,235

	2023	2022
	E	E
Within one year	2,347	2,347
Between two and five years	1,174	3,522
In more than five years
	3,521	5,869