|||Page|Page||
|---|---|---|---|---|
|Report ofthe Trustees||1|to|4|
|Report ofthe Independent|Auditors|5|to|7|
|Statement ofFinancial Activities|||||
|Balance Sheet|||||
|Cash Flow Statement|||10||
|Notes to the Financial Statements||11|to|20|
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||for|the Year|Ended 5April 2|023|||
|---|---|---|---|---|---|---|
||||||5.4.23|5.4.22|
||||Unrestricted|Endowment|Total|Total|
||||fund|fund|funds|funds|
|||Notes|||||
|INCOME AND ENDOWMENTS FROM|||||||
|Donations
and legacies||||500,000|500,000|2,500,000|
|Investment
income|||501,891||501,891|198,987|
|Other income||||||9,841|
|Total|||501,$91|500,000|1,001,891|2,708,828|
|EXPENDITURE|ON||||||
|Raising funds||||4,420|4,420|22,889|
|Charitable
activities|||||||
|General charitable|activities||743,$17||743,817|774,044|
|Total|||743,817|4,420|748437|796,933|
|Net gains/(losses)|on investments|||(855,133)|(855,133)|316,076|
|NET INCOME/(EXPENDITURE)|||(241,926)|(359,553)|(601,479)|2,227,971|
|Transfers between
funds||14|241/26|(241/26)|||
|Net movement
in|funds|||(601,479)|(601,479)|2,227,971|
|RECONCILIATION
OF FUNDS|||||||
|Total funds brought
forward||||13,063,745|13,063,745|10,835,774|
|TOTAL FUNDS|CARRIED FORWARD|||12,462/66|12,462/66|13,063,745|
##
|||||5.4.23|5.4.22|
|---|---|---|---|---|---|
|||Unrestricted|Endowment|Total|Total|
|FIXEDASSETS|Notes|fund|fund|funds|funds|
|Investments||||||
||||11,S36,668|11,836,668|12,575,615|
|CURRENT ASSETS||||||
|Debtors
Cash at bank|12|3,056
4,444|626,798|3,056
631,242|497,947|
|||7,500|626,798|634,298|497,947|
|CREDITORS||||||
|Amounts
falling due within one year|13|(7,500)|(1,200)|(8,700)|'
(9,817)|
|NET CURRENT ASSETS||||||
||||625,598|625,598|488,130|
|TOTAL ASSETSLESSCURRENT||||||
|LIABILITIES||||||
||||12,462,266|12,462/66|13,063,745|
|NETASSETS||||||
||||12,462,266|12,462,266|13,063,745|
|FUNDS|14|||||
|Endowment
funds||||||
|||||12,462,266|13,063,745|
|TOTALFUNDS||||||
|||||12,462,266|13,063,745|
##
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||for the Year Ended|5April 2023||
|---|---|---|---|
|||5.4.23|5.4.22|
||Notes|||
|Cash flows from operating
activities
Cash generated
&om operations|16|(747,990)|(766,092)|
|Net cash used in operating
activities||(747,990)|(766,092)|
|Cash flows from investing
activities
Purchase offixed asset investments||(118,186)|(15,972,065 )|
|Sale offixed asset investments||2,000|13,788,583|
|Interest received||3,897|129|
|Dividends
received||497,994|198,858|
|Net cash provided
by/(used
in) investing|activities|385,705|(1,984,495 )|
|Cash flows from flnancing
activities
Income attributable
to endowment||500,000|2,500,000|
|Expenditure
attributable
to endowment||(4,420)|(22,889)|
|Net cash provided
by financing
activities||495,580|2,477,111|
|Change in cash and cash equivalents
the reporting
period|in|133/95|(273,476)|
|Cash and cash equivalents
at the
beginning
ofthe reporting
period||497,947|771,423|
|Cash and cash equivalents
at the end
the reporting
period|of|631442|497,947|
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||DONATIONS
AND LEGACIES|DONATIONS
AND LEGACIES|||5.4.23|5.4.22|
|---|---|---|---|---|---|---|
||Gifts||||400,000|2,000,000|
||Gift aid||||100,000|500,000|
||||||500,000|2,500,000|
|3.|INVESTMENT INCOME||||||
||Investment
income|comprises:|||5.4.23|5.4.22|
||||||f,||
||Interest received on|UK investments|||3,897|3,946|
||UK Dividends
Interest received on
Overseas Dividends|overseas investments|||497,994|165,475
9,552
20,014|
||||||501,891|198,987|
|4.|RAISING FUNDS||||||
||INVESTMENT MANAGEMENT||COSTS||5.4.23|5.4.22|
||Portfolio management||||4,420|22,889|
|5.|CHARITABLE ACTIVITIES COSTS||||||
|||||Grant|||
|||||funding of|||
|||||activities|Support||
|||||(see note|costs (see||
|||||6)|note 7)|Totals|
||General charitable|activities||641/10|102407|743,817|
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|GRANTSPAYABLE||||
|---|---|---|---|
|||5.4.23|5.4.22|
|General charitable
activities||641,510|683,300|
|The total grants paid to institutions
during|the year was as follows:|5.4.23|5.4.22|
|Build Atrica/Streetchild
Eastside Young Leaders Academy
Foundation
and Friends ofthe Royal Botanic Gardens Kew
National Deaf Children's
Society
Royal Shakespeare
Company
First Give
Wave Project
Music Masters
Kent Academies Network
Primary Robbins
Envision||25,000
3,000
25,000
18,000
21,510
10,000|20,000
2,400
15,000
22,120
13,125
8,000
13,265
21,510
10,000|
|Royal National
Theatre - NT Connections,
News Views and Let's Play
programmes
English National Ballet
Springboard
Foundation
Royal Ballet School
Schoolreaders
Chance to Shine
Seaview
Into University
Rugby Football Foundation
Sporting Way
Victoria and Albert Museum
Young Minds
London Children's
Ballet
Small grants 81,000 and less -3(2021:Nil)
Bush Theatre Company
Caterham
Primary Maths programme
World Heart Beat Music Academy
Untold Creative Training||250,000
30,000
20,000
5,000
14,000
40,000
5,000
125,000
10,000
5,000
25,000
10,000|250,000
24,000
30,000
20,000
5,000
14,000
12,500
40,000
11,000
4,100
125,000
10,000
11,000
1,280|
|||641,510|683,300|
##
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|SUPPORT C|OST|S||||||
|---|---|---|---|---|---|---|---|
|||||||Governance||
|||||Management|Finance|costs|Totals|
|General charitable||activities||88,846|81|13/80|102407|
|Support costs,|included||in the above,|are as follows:||||
|MANAGEMENT||||||5.4.23|5.4.22|
|||||||General||
|||||||charitable|Total|
|||||||activities|activities|
|Wages
Social security
Pensions
Website costs
Postage and stationery
Travel and subsistence||||||77,013
4/16
1,170
564
362
1@75|72,592
5,001
1,065
431
986
203|
|ITSupport||||||4,146||
|||||||88,846|80/78|
|||||||5.4.23|5.4.22|
|||||||General||
|||||||charitable|Total|
|||||||activities|activities|
|Bank charges||||||81|116|
|GOVERNANCE||COSTS||||5.4.23|5.4.22|
|||||||General||
|||||||charitable|Total|
|||||||activities|acttvtttes|
|Auditors'
remuneration
Professional
fees||||||5,760
7,620|5,400
4,950|
|||||||13@80|10/50|
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|STAFFCOSTS||||||
|---|---|---|---|---|---|
|||||5.4.23|5.4.22|
|Wages and salaries
Social security costs
Other pension costs||||77,013
4/16
1,170|72,592
5,001
1,065|
|||||82P99|78,658|
|The average monthly
number ofemployees||during the year was|as follows:|||
|||||5.4.23|5.4.22|
|||||2|2|
|Administration||||||
|No employees
received emoluments|in excess off60,000.|||||
|COMPARATIVES FORTHE STATEMENT OFFINANCIAL ACTIVITIES
Unrestricted||||Endowment|Total|
||||fund|fund|funds|
|INCOME AND ENDOWMENTS
Donations
and legacies|FROM|||2,500,000|2,500,000|
|Investment
income
Other income|||198,987
9,841||198,987
9,841|
|Total|||208,828|2,500,000|2,708,828|
|EXPENDITURE ON
Raising funds||||22,889|22,889|
|Charitable
activities
General charitable
activities|||774,044||774,044|
|Total|||774,044|22,889|796,933|
|Net gains on investments||||316,076|316,076|
|NKT INCOME/(EXPENDITURE)
Transfers
between funds|||(565,216)
565,216|2,793,187
(565,216)|2,227,971|
|Net movement
in funds||||2,227,971|2,227,971|
||Notes to the Financial Statements -continued
for the Year Ended 5 April 2023|Notes to the Financial Statements -continued
for the Year Ended 5 April 2023|Notes to the Financial Statements -continued
for the Year Ended 5 April 2023||
|---|---|---|---|---|
|10.|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES -continued
Unrestricted
Endowment|||Total|
|||fund|fund|funds|
||RECONCILIATION
OFFUNDS
Total funds brought
forward||10,835,774|10,835,774|
||TOTAL FUNDS CARRIED FORWARD||13,063,745|13,063,745|
|11.|FIXEDASSET INVESTMENTS|||Listed|
|||||investments|
||MARKET VALUE
At 6 April 2022
Additions
Disposals|||13,190498
118,186
(2,185)|
||At 5 April 2023|||13/06/99|
||PROVISIONS
At 6 April 2022
Provision for year|||614,783
854,948|
||At 5 ApB1 2023|||1,469,731|
||NET BOOK VALUE
At 5 April 2023|||11836668|
||At 5 April 2022|||12,575,615|
||Investments
at market|value comprise:-|5.4.23|5.4.22|
||Multiple
Asset Class||11,836,668|12,575,615|
||Ofthe investments
held atthe balance sheet date fNil (2022: KNil) relate to overseas holdings.||||
|12.|DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR||5.4.23|5.4.22|
||Other debtors||3,056||
##
||||||||||
|---|---|---|---|---|---|---|---|---|
|13.|CREDITOR|S|: AMOUNTS FA|LING DUE WITHIN ONE|YEAR||5.4.23|5.4.22|
||Other creditors|||||||1,117|
||Accrued expenses||||||8,700|8,700|
||||||||8,700|9,817|
|14.|MOVEMENT IN FUNDS||||||||
|||||||Net|Transfers||
||||||movement||between|At|
|||||At 6.4.22|in|funds|funds|5.4.23|
||Unrestricted||funds||||||
||General fund||||(241,926)||241,926||
||Endowment|funds|||||||
||Expendable|endowment|||||||
|||||13,063,745|(359,553)||(241,926)|12,462466|
||TOTAL FUNDS|||13,063,745|(601,479)|||12,462/66|
||Net movement||in funds, included|in the above are as follows:|||||
|||||Incoming|Resources||Gains and|Movement|
|||||resources|expended||losses|in funds|
||Unrestricted||funds||||||
||General fund|||501,891|(743,817)|||(241/26)|
||Endowment||funds||||||
||Expendable|endowment|||||||
|||||500,000||(4,420)|(855,133)|(359,553)|
||TOTAL FUNDS|||1,001,891|(748437)||(855,133)|(601,479)|
##
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|Comparatives|Comparatives|for movement|for movement|in funds||||||
|---|---|---|---|---|---|---|---|---|---|
||||||||Net|Transfers||
||||||||movement|between|At|
|||||||At 6.4.21|in funds|funds|5.4.22|
|Unrestricted
General fund||funds|||||(565,216)|565,216||
|Endowment||funds||||||||
|Expendable|endowment|||||||||
||||||10,835,774||2,793,187|(565,216)|13,063,745|
|TOTAL FUNDS|||||10,835,774||2,227,971||13,063,745|
|Comparative||net movement||in funds, included|in the above are as||follows:|||
|||||||Incoming|Resources|Gains and|Movement|
|||||||resources|expended|losses|in funds|
|Unrestricted
General fund||funds||||208,828|(774,044)||(565,216)|
|Endowment||funds||||||||
|Expendable||endowment||||||||
|||||||2,500,000|(22,889)|316,076|2,793,187|
|TOTAL FUNDS||||||2,708,828|(796,933)|316,076|2,227,971|
|A current year 12months|||and prior year 12months|||combined position is as follows:||||
||||||||Net|Transfers||
||||||||movement|between|At|
|||||||At 6.4.21|in funds|funds|5.4.23|
|Unrestricted
funds
General fund|||||||(807,142)|807,142||
|Endowment||funds||||||||
|Expendable||endowment||||||||
|||||||10,835,774|2,433,634|(807,142)|12,462,266|
|TOTAL FUNDS||||||10,835,774|1,626,492||12,462,266|
##
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|as follows:||||||
|---|---|---|---|---|---|
|||Incoming|Resources|Gains and|Movement|
|||resources|expended|losses|in funds|
|Unrestricted|funds|||||
|General fund||710,719|(1,517,861 )||(807,142)|
|Endowment|funds|||||
|Expendable|endowment|||||
|||3,000,000|(27,309)|(539,057)|2,433,634|
|TOTAL FUNDS||3,710,719|(1,545,170)|(539,057)|1,626,492|
##
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|RECONCILIATION
OFNET (EXPENDI
OPERATING ACTIVITIES|TURE)/INCOME
TO NET|CASH FLOW FROM||
|---|---|---|---|
|||5.4.23|5.4.22|
|Net (expenditure)/income
for the reporting
Statement ofFinancial Activities)|period (as per the|(601,479)|2,227,971|
|Adjustments
for:
Losses/(gain)
on investments
Interest received||855,133
(3,897)|(316,076)
(129)|
|Dividends
received||(497,994)|(198,858)|
|Income attributable
to endowment
Expenditure
attributable
to endowment
Increase in debtors
Decrease in creditors||(500,000)
4,420
(3,056)
(1,117)|(2,500,000 )
22,889
(1,889)|
|Net cash used in operations||(747,990)|(766,092)|
##
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|ANALYSIS OF CHANGES IN NET F|UNDS|||
|---|---|---|---|
||At 6.4.22|Cash flow|At 5.4.23|
|||f.||
|Net cash
Cash at bank|497,947|133/95|631/42|
||497,947|133,295|631742|
|Ttl|497,947|133/95|631/42|