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