OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-03-31-accounts

Report for the Year
National
Portrait Gallery
University of Lincoln Medical School
David Ross Education Trust
Nevill Holt Opera
Hanging Stones —Goldsworthy Project
University ofNottingham
British Paralympics
Association

The audited financial statements
are appended
to the rear of		 this report. Commencing
from pag
Report ofthe Trustees 8to 11
Report ofthe Independent
Auditors		 12to 14
Statement of Financial Activities
Statement of Financial Position
Statement ofCash Flows
Notes to the Statement ofCash Flows 18
Notes to the Financial Statements 19to 29

.REPORT OF THE TRUSTEES AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Ross Foundation Page 7

FOR THE YEAR ENDED 31MA RCH 2023
2023 2022
Unrestricted Restricted Total Total
funds funds funds funds
Notes f f f f
INCOME AND ENDOWMENTS FROM
Donations
and legacies		 2,125,000 4,766 2,129,766 3,3S2,322
Investment
income		 30,804 30,804 35,361
Total 2,155,804 4,766 2,160,570 3,417,683
EXPENDITURE ON
Raising funds 1,851 4,743 6,594 6,021
Charitable activities
Donations
made		 5 1,947,291 1,947,291 1,883,350
Other 138,255 440 138,695 146,957
Total 2,087,397 5,183 2,092,580 2,036,328
Net gains/(losses)
on investments		 (284,206) (284,206) (514,862)
NET INCOME/(EXPENDITURE) (215,799) (417) (216,216) 866,493
RECONCIUATION
OF FUNDS
Total funds brought forward 12,606,780 65,760 12,672,540 11,806,047
TOTAL FUNDS CARRIED FORWARD 12,390,981 65,343 12,456,324 12,672,540

31MARCH 2023
2023 2022
Unrestricted Restricted Total Total
Notes funds
f		 fundsf funds funds
FIXEDASSETS
Tangible assets 11 62,855 62,855 62,855
Heritage assets 12 2,389,488 2,389,488 1,869,134
Investments 13 2,513,812 2,513,812 2,463,861
4,966,155 4,966,155 4,395,850
CURRENT ASSETS
Debtors 14 6,754,234 6,754,234 7,280,583
Investments 15 519,350 519,350 803,556
Cash at bank 363,618 65,343 428,961 545,570
7,637,202 65,343 7,702,545 8,629,709
CREDITORS
Amounts
falling due		 within one year 16 (212,376) (212,376) (353,019)
NET CURRENT ASSETS 7,424,826 65,343 7,490,169 8,276,690
TOTAL ASSETS LESS CURRENT LIABILITIES 12,390,981 65,343 12,456,324 12,672,540
NET ASSETS 12,390,981 65,343 12,456,324 12,672,540
FUNDS 17
Unrestricted
funds:
General fund 12,390,981 12,606,780
Restricted funds:
Beckwith Music 53,915 53,915
St. Mary's Church, Nevill Holt 3,737 3,737
North Yorkshire 6,500 6,500
Hanging Stones 1,191 1,608
65,343 65,760
TOTAL FUNDS 12,436,324 12,672,546

2023 2022
Notes E E
Cash flows from operating activities
Cash generated
from operations		 424,660 (206,711)
Net cash provided
by/fused		 in) operating activities 424,660 (206,711)
Cash flows from investing activities
Purchase ofheritage assets (520,354) (572,966)
Purchase ofinvestments (49,951) (47,603)
Sale ofcurrent asset investments 34,369
Investment
management		 fees (1,768) (3,455)
Interest received 30,804 35,361
Net cash used in investing activities (541,269) (554,294)
Change
in cash and cash equivalents		 in the
reporting
period		 (116,609) (761,005)
Cash and cash equivalents at the beginning of
the reporting
period		 545,570 1,306,575
Cash and cash equivalents atthe end ofthe
reporting
period		 428,961 545,570

RECONCILIATION OF NET ( EXPENDITURE}/IN COME
TO NET CASH FLOW FROM OPERAT		 ING ACTIVITIES
2023 2022
f f
Net (expenditure}/Income for the reporting period (as per the Statement of
Financial Activities) (216,216) 866,493
Adjustments
for:
Losses on investments 284,206 514,862
Interest received (30,804) (35,361)
investment
management		 fees 1,768 3,455
Decrease/(increase) in debtors 526,349 (774,494)
Decrease in creditors (140,643) (781,666)
Net cash provided by/(used in) operations 424,660 (206,711}
ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.22 Cash flow At 31.3.23
f f f
Net cash
Cash at bank 545,570 (116,609) 428,961
545,570 (116,609) 428,961
Uquid resources
Deposits included in cash
Current asset investments 803,556 (284,206} 519,350
803,556 (284,206) 519,350
Total 1,349,126 (400,816) 948,311

FOR THE YEAR ENDED 31 THE YEAR ENDED 31 MARCH 2023
4. RAISING FUNDS
Raising donations and legacies
2023 2022
f f
Fundraising costs 4,695 2,395
Bank charges 131 171
4,826 2,566
Investment management costs
2023 2022
E E
investment management fees 1,768 3„455
Aggregate amounts 6,594 6,021
5. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities
{seenote
6)
Donations made 1,947,291
6. GRANTS PAYABLE
2023 2022
f E
Donations made 1,947,291 1,883,350

The total grants paid to institutions during the year was as follows:
2023 2022
f f.
Partner Organisations:
Blackwater Music Festival 10,000
British Olympic Association 1,083 30,246
British Paralympic
Association		 50,000 50,000
Lincoln Medical School (Lincoln University) 500,000 250,000
National
Portrait Gallery		 1,001,032 1,004,749
The University
ofNottingham		 300,0000 307,510
1,852,115 1,652,505
David Ross Education Trust:
David Ross Education Trust 1,250 1,155
DRET inspiration
Fund		 80,690
1,250 81,845
General one offdonations:
Addenbrook's
Charitable		 Trust 250
Alzheimers
Society		 200
Arthur
Rank Hospice Charity		 100
Bone Cancer 100
Brainwave 50
East Anglian
Air Ambulance		 100
Epilepsy Action 500
Eternity Movement 1,000
Game and Wildlife Trust 2,500
James' Place 500
Lady Garden
Fund		 100 250
Medair General 100
Mustique
Charitable
Trust		 20,000
Serpentine
Gallery		 10,926
Teach First 250
University
ofCambridge		 - Hockney Exhibition at Fitzwilliam Museum 25,000
Whitechapel
Gallery		 1,000
13,926 49,000
Nevill Holt Opera Limited 80,000 100,000
1,967,291 1,883,350
SUPPORT COSTS
Governance
Management
f		 costs
f		 Totals
f
Other resources expended 16,978 122,617 198,695
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2023 2022
f
Auditors'
remuneration		 16,530 13,466

COMPARATIVES
 FOR THE ST ATEMENT OF FINANCIAL A CTIVITIES
Unrestricted Restricted Total
funds funds funds
E f
INCOME AND ENDOWMENTS FROM
Donations and legacies 3,379,375 2,947 3,382,322
Investment
income		 35,361 35,361
Total 3,414,736 2,947 3,417,683
EXPENDITURE ON
Raising funds 5,919 102 6,021
Charitable
activities
Donations
made		 1,866,038 17,312 1,883,350
Other 146,957 146,957
Total 2,018,914 17,414 2,036,328
Net gains/(losses) on investments (514,862) (514,862)
NET INCOME/(EXPENDITURE) 880,960 (14,467) 866,493
RECONCILIATION OF FUNDS
Total funds brought forward 11,725,820 80,227 11,806,047
TOTAL FUNDS CARRIED FORWARD 12,606,780 65,760 12,672„540
TANGIBLE FIXEDASSETS
Freehold
property
E
COST
At 1April 2022 and 31March 2023 62,855
NET BOOK VALUE
At 31March 2023 62,855
At 31March 2022 62,855

HERITAGE ASSETS
Totalf
COST
At 1April 2022 1,869,134
Additions 520,354
At 31March 2023 2,389,488
NET BOOK VALUE
At 31March 2023 2,389,488
At 31March 2022 1,869,134

CURRENT ASSET INVESTM ENTS
2023 2022
f
Listed investments 519,350 803,556
Movement in current asset investments comprises:
2023
f		 2022f
Market value as at 1April 2022 803,556 1,263,236
Additions (at market value on acquisition)
Disposals (at market value on disposal)
Gain/(loss) on disposal of investments
Gain/(loss) on revaluation ofinvestments (284,206) (459,680)
Market value asat 31March 2023 519,350 803,556

CREDIT ORS: AMOUNTS
FALLING DUE NITHIN ONE YEAR
2023 2022
f f
Other creditors 198,136 41,192
Amounts due to Historic Lincoln Trust 300,000
Accrued expenses 14,240 11,827
212,376 353,029

MOVEMENT
IN FU		 NDS
Net
movement At
At 1.4.22 in funds 31.3.23
f f
Unrestricted
funds
General fund 12,606,780 (215,799) 12,390,981
Restricted funds
Beckwith Music 53,915 53,915
St.Mary's Church, Nevill Holt 3,737 3,737
North Yorkshire 6,500 6,500
Hanging Stones 1,608 (417) 1,191
65,760 (417) 65,343
TOTAL FUNDS 12,672,540 (216,216) 12,456,324

Incoming Resources Gains and Movement
resources expended losses in funds
f E E E
Unrestricted
funds
General fund 2,155,804 (2,087,397) (284,206) (215,799)
Restricted funds
Hanging Stones 4,766 (5,183) (417)
TOTAL FUNDS 2,160,570 (2,092,580) (284,206) (216,216)
Comparatives
for		 movement in funds
Net
movement At
At 1.4.21 in funds 31.3.22
f f
Unrestricted
funds
General fund 11,725,820 880,960 12,606,780
Restricted funds
Beckwith Music 53,915 53,915
St. Mary's Church, Nevill Holt 2,500 1,237 3,737
North Yorkshire 6,500 6,500
DRET Inspiration Fund 17312 (17,312)
Hanging Stones 1,608 1,608
80,227 (14,467) 65,760
TOTAL FUNDS 11,806,047 866,493 12,672,540
Incoming Resources Gains and Movement
resources expended losses in funds
E E f E
Unrestricted
funds
General fund 3,414,736 (2,018,914) (514,862) 880,960
Restricted funds
St.Mary's Church, Nevill Holt 1,237 1,237
DRET Inspiration Fund (17,312) (17,312)
Hanging Stones 1,710 {102) 1,608
2,947 (17,414) (14,467)
TOTAL FUNDS 3,417,6S3 (2,Q36,328) {514,862) 866,493

Net
movement At
At 1.4.21 in funds 31.3.23
f F. f
Unrestricted
funds
General fund 11,725,820 665,161 12,390,981
Restricted funds
Beckwith Music 53,915 53,915
St.Mary's Church, Nevill Holt 2,500 1,237 3.737
North Yorkshire 6,500 6,500
DRET Inspiration Fund 17,312 (17,312)
Hanging Stones 1,191 1,191
80,227 (14,884) 65,343
TOTAL FUNDS 11,8D6,047 650,277 12,456,324
A current
year 12		 months and prior year 12 months combined net movement
in funds,		 included in the above are
follows:
Incoming Resources Gains and Movement
resources
f		 expended
f		 losses
f		 in funds
f
Unrestricted
funds
Genera
I fund		 5,570,540 (4,106,311) (799,068) 665,161
Restricted funds
St. Mary's Church, Nevill Holt 1237 1237
DRET Inspiration Fund (17,312) (17,312)
Hanging Stones 6,476 (5,285) 1,191
7,713 (22,597) (14,884)
TOTAL FUNDS 5,578,253 (4,128,9D8} (799,068} 65D,277