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|CONTENTS||
|---|---|
||Page|
|Reference and administrative details of the charity, its trustees and advisers|1|
|Trustees' report|2-5|
|Independent auditors' report|6-9|
|Statement of financial activities|10|
|Balance sheet|11|
|Statement of cash flows|12|
|Notes to the financial statements|13-22|
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|||Endowment Unrestricted|Endowment Unrestricted|Total|Total|
|---|---|---|---|---|---|
|||funds funds||funds|funds|
||2022 2022
Note £ £|||2022
£|2021£|
|INCOME AND ENDOWMENTS FROM:||||||
|Investments|2||361,469|361,469|276,603|
|TOTAL INCOME AND ENDOWMENTS|||361,469|361,469|276,603|
|EXPENDITURE ON:||||||
|Raising funds||29,296|22,405|51,701|31,900|
|Charitable activities|5,4||466,568|466,568|194,448|
|TOTAL EXPENDITURE|6|29,296|488,973|518,269|226,348|
|NET INCOME / (EXPENDITURE) BEFORE||||||
|INVESTMENT GAINS||(29,296)|(127,504) (156,800) 50,255|||
|Net gains on investments|9,10|1,950,812||1,950,812 2,813,729||
|NET INCOME / (EXPENDITURE) BEFORE||||||
|OTHER RECOGNISED GAINS AND||||||
|LOSSES||1,921,516|(127,504) 1,794,012 2,863,984|||
|NET MOVEMENT IN FUNDS||1,921,516|(127,504) 1,794,012 2,863,984|||
|RECONCILIATION OF FUNDS:||||||
|Total funds brought forward||16,466,493|350,620 16,817,113 13,953,129|||
|TOTAL FUNDS CARRIED FORWARD||18,388,009|223,116 18,611,125 16,817,113|||
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||Note|£|2022
£|£|2021£|
|---|---|---|---|---|---|
|FIXED ASSETS||||||
|Investment property|9||360,000||360,000|
|Investments|10||18,661,147||16,592,822|
||||19,021,147||76,952,822|
|CURRENT ASSETS||||||
|Debtors|11|14,128||14,499||
|Cash at bank and in hand||237,319||299,891||
|||251,447||314,390||
|CREDITORS: amounts falling due within||||||
|one year 12||(273,133)||(260,099)||
|NET CURRENT (LIABILITIES)/ASSETS|||(21,686)||54,291|
|TOTAL ASSETS LESS CURRENT LIABILITIES|||18,999,461||17,007,113|
|CREDITORS: amounts falling due after||||||
|more than one year|1 3||(388,336)||(190,000)|
|NET ASSETS|||18,611,125||16,817,113|
|CHARITY FUNDS||||||
|Endowment funds|15||18,388,009||16,466,493|
|Unrestricted funds|15||223,116||350,620|
|TOTAL FUNDS|||18,611,125||16,817,113|
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||Note|2022
£|2021£|
|---|---|---|---|
|Cash flows from operating activities||||
|Net cash used in operating activities|17|(306,527)|(212,739)|
|Cash flows from investing activities:||||
|Dividends, interest and rents from investments||361,469|276,603|
|Proceeds from sale of investments||3,311,171|3,141,549|
|Purchase of investments||(3,428,685)|(3,093,204)|
|Net cash provided by investing activities||243,955|324,948|
|Change in cash and cash equivalents in the year||(62,572)|112,209|
|Cash and cash equivalents brought forward||299,891|187,682|
|Cash and cash equivalents carried forward||237,319|299,891|
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|INVESTMENT INCOME||||
|---|---|---|---|
||Endowment Unrestricted|Total|Total|
||funds funds|funds|funds|
||2022 2022
£ £|2022
£|2021£|
|Investment income - local investment||||
|properties|10,740|10,740|10,740|
|Investment income - local listed||||
|investments|273,206|273,206|155,021|
|Investment income - foreign listed||||
|investments|77,484|77,484|110,789|
|Investment income - local cash|39|39|53|
||361,469|361,469|276,603|
|Total 2021|276,603|276,603||
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|T OF INSTITUTIONAL GRANTS PAYABLE|||
|---|---|---|
|Name of institution/grant|2022£|2021£|
|1. Culford School - Bursaries
2. Ely Cathedral - Video
3. Ely Cathedral - Bursaries|103,336
(6,170)|150,000
(4,532)
14,000|
|4. Angles Theatre|10,000||
|5. Culford Science Laboratory|200,000||
|6. Priscilla Bacon Hospice|25,000||
|7. Pulse||17,000|
|8. East Anglia Air Ambulance|2,500|2,500|
|9. Ely Cathedral - Paving|(11,118)||
|9. Ely Cathedral - Safety rails|||
|10. Alzheimers Research Trust|3,000|2,500|
|11. West Norfolk hlospice Tapping House|1,000|1,000|
|11. Ely Cathedral - Octagon Work|||
|12. Ely Cathedral - IT System|117,288||
|13. Cambridge Arts Theatre|10,000||
||454,836|182,468|
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|||Endowment Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds funds|funds|funds|
|||2022 2022
£ £|2022£|2021£|
|Grant|Making|454,836|454,836|182,468|
|Total|2021|182,468|182,468||
|GOVERNANCE COSTS||||
|---|---|---|---|
||Endowment Unrestricted|Total|Total|
||funds funds|funds|funds|
||2022 2022
£ £|2022£|2021£|
|Audit Fees|3,129|3,129|2,822|
|Accountancy Fees|6,203|6,203|5,796|
|Legal Fees|2,400|2,400|3,362|
||11,732|11,732|11,980|
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||Other costs|Total|Total|
|---|---|---|---|
||2022£|2022
£|2021£|
|Expenditure on investment management|51,701|51,701|31,900|
|Costs of raising funds|51,701|51,701|31,900|
|Grant Making|454,836|454,836|182,468|
|Expenditure on governance|11,732|11,732|11,980|
||518,269|518,269|226,348|
|Total 2021|226,348|226,348||
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|DITORS' REMUNERATION|||
|---|---|---|
||2022£|2021£|
|Fees payable to the charity's auditor and its associates for the|||
|audit of the charity's annual accounts|3,129|2,822|
|Fees payable to the charity's auditor and its associates in respect
of:|||
|All other non-audit services not included above|6,203|5,796|
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|INVESTMENT PROPERTY||
|---|---|
||Freehold|
||investment|
||property£|
|Valuation||
|At 1 April 2021 and 31 March 2022|360,000|
|Comprising||
|Cost|329,932|
|Annual revaluation surplus/(deficit):
2021|30,068|
|At 31 March 2022|360,000|
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|IXED ASSET INVESTMENTS||||
|---|---|---|---|
||Listed Other|||
||securities|investments|Total|
||£ £||£|
|Market value||||
|At 1 April 2021|16,078,394|514,428|16,592,822|
|Additions|2,539,790|888,894|3,428,684|
|Disposals|(1,816,636)|(1,106,295)|(2,922,931)|
|Revaluations|1,562,572||1,562,572|
|At 31 March 2022|18,364,120|297,027|18,661,147|
|Historical cost|11,803,658|297,027|12,100,685|
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||UK
£|Overseas£|2022
£|2021£|
|---|---|---|---|---|
|Listed investments|17,582,761|781,358|18,364,119|16,078,394|
|Other fixed asset investments|297,028||297,028|514,428|
|Total market value|17,879,789|781,358|18,661,147|16,592,822|
|11. DEBTORS|||||
||||2022
£|2021£|
|Prepayments and accrued income|||14,128|14,499|
|12. CREDITORS: Amounts falling due within one year|||||
||||2022
£|2021£|
|Trade creditors|||29,419|^8,797|
|Accruals and deferred income|||11,670|11,200|
|Grants accrued - Institutional|||232,044|230,102|
||||273,133|260,099|
|13. CREDITORS: Amounts falling due after more than one year|||||
||||2022£|202?£|
|Grants accrued - Institutional|||388,336|190,000|
|14. FINANCIAL INSTRUMENTS|||||
||||2022
£|2021£|
|Financial Assets|||||
|Financial assets measured at fair value through net income||19,021,146||16,952,822|
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||||Balance at|
|---|---|---|---|
||Balance at||Gains/ 31 March|
||1 April 2021£|Income Expenditure
£ £|(Losses) 2022
£ £|
|Unrestricted funds||||
|General Fund|350,620|361,469 (488,973)|223,116|
|Endowment funds||||
|Endowment Funds - all funds|16,466,493|(29,296)|1,950,812 18,388,009|
|Total of funds|16,817,113|361,469 (518,269) 1,950,812 18,611,125||
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|STATEMENT OF FUNDS - PRIOR|YEAR|||
|---|---|---|---|
||||Balance at|
||Balance at||Gains/ 31 March|
||1 April 2020
£|Income Expenditure
£ £|(Losses) 2021
£ £|
|General funds||||
|General Fund|271,148|276,603 (197,132)|350,619|
|Endowment Funds - all funds|13,681,980|(29,216)|2,813,729 16,466,493|
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|||Balance at|
|---|---|---|
||Balance at|Gains/ 31 March|
||1 April 2021£|Income Expenditure
£ £
(Losses) 2022
£ £|
|General fund
Endowment funds|350,620
16,466,493|361,469 (488,973) - 223,116
(29,296) 1,950,812 18,388,009|
||16,817,113|361,469 (518,269) 1,950,812 18,611,125|
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||||Balance at|
|---|---|---|---|
||Balance at||Gains/ 31 March|
||1 April 2020
£|Income Expenditure
£ £
(Losses) 2021
£ £||
|General funds
Endowment funds|271,148
13,681,980|276,603|(197,132) - 350,619
(29,216) 2,813,729 16,466,493|
||13,953,128|276,603|(226,348) 2,813,729 16,817,112|
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||Endowment Unrestricted Total|
|---|---|
||funds funds funds|
||2022 2022 2022|
||£ £ £|
|Fixed asset investments|18,661,146
1 18,661,147|
|Investment property|360,000
360,000|
|Current assets|251,448 251,448|
|Creditors due within one year|(273,133) (273,133)|
|Creditors due in more than one year
Other assets/(liabilities)|(633,137)
(388,337) (388,337)
633,137|
||18,388,009
223,116 18,611,125|
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||Endowment Unrestricted
Total|
|---|---|
||funds funds
funds|
||2021 2021
2021|
||£ £
£|
|Fixed asset investments|^6,592,822
16,592,822|
|Investment property|360,000
360,000|
|Current assets|3^4,390 314,390|
|Creditors due within one year|(260,099) (260,099)|
|Creditors due in more than one year
Other assets/(liabilities)|(486,329)
(190,000) (190,000)
486,329|
||16,466,493
350,620 16,817,113|
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|
ACTIVITIES|||
|---|---|---|
||2022£|2021£|
|Net income for the year (as per Statement of Financial Activities)|1,794,012|2,863,984|
|Adjustment for:|||
|Losses on investments
Dividends, interest and rents from investments
Decrease/(increase) in debtors
Increase in creditors|(1,950,812)
(361,469)
372
211,370|(2,813,729)
(276,603)
(14,195)
27,804|
|Net cash used in operating activities|(306,527)|(212,739)|
|NALYSIS OF CASH AND CASH EQUIVALENTS|||
||2022£|2021£|
|Cash in hand|237,319|299,891|
|Total|237,319|299,891|
|RANT COMMITMENTS|||
||Total|Total|
||2022£|2021£|
|At 31 March 2022 the charity had commitments as follows:|||
|Commitments in respect of grants approved for projects which|||
|have not been accrued in the financial statements but will form|||
|part of grants:|||
|Within one year||2,500|
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