|Referenceandadministrativeinformation||
|---|---|
|aboutthecharityanditsadvisers|1|
|Governors'annualreport|3|
|Independentauditor'sreport|13|
|Financialstatements||
|Statementoffinancialactivities|17|
|Balancesheet|18|
|Statementofcashflows|19|
|Principalaccountingpolicies|20|
|Notestothefinancialstatements|24|
##
|Bankers:|LloydsBank|NationwideBS|
|---|---|---|
||1stFloor|KingsParkRoad|
||39ThreadneedleStreet|MoultonPark|
||London|Northampton|
||EC2R8AU|NN36NW|
|Solicitors:|InvestmentPropertyadvice:|Charityadvice:|
||IBBSolicitors|WombleBondDickinsonLLP|
||CapitalCourt|4MoreLondonRiverside|
||30WindsorStreet|London|
||Uxbridge|SE12AU|
||Middlesex||
||UB81AB||
|Investmentadvisers:|CazenoveCapital|WavertonInvestment|
||ManagementLtd|ManagementLtd|
||1LondonWallPlace|16BabmaesStreet|
||LondonWall|LondonSW1Y6AH|
||BarbicanEC2Y5AU||
|Investmentpropertyadvisers:|AvisonYoungUKLLP||
||BecketHouse||
||36OldJewry||
||London||
||EC2R8DD||
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|||||2021|||2020|
|---|---|---|---|---|---|---|---|
|||Unrestricted|Endowment|Total|Unrestricted|Endowment|Total|
|||funds|funds|funds|funds|funds|funds|
||Notes|£|£|£|f|f|f|
|Income||||||||
|Investmentincome|1|1,229,515||1,229,515|1,341,721|—|1,341,721|
|Totalincome||1,229,515||1,229,515|1,341,721|—|1,341,721|
|Expenditure||||||||
|Costofraisingfunds|2|113,163|—|113,163|—|116,297|116,297|
|Expenditureoncharitable||||||||
|activities|3|1,226,125|-|1,226,125|953,768|-|953,768|
|Totalexpenditure||||||||
|||1,339,288|-|1,339,288|953,768|116,297|1,070,065|
|Netincome(expenditure)||||||||
|beforegains(losses)on|7|||||||
|investments||(109,773)|—|(109,773)|387,953|(116,297)|271,656|
|Netgains(losses)onlisted|12|||||||
|investments|||4,349,974|4,349,974|—|(659,293)|(659,293)|
|Revaluationofinvestment||||||||
|property|11||(200,000)|(200,000)||||
|Netincome(expenditure)||||||||
|fortheyearandnet||||||||
|movementinfunds||(109,773)|4,149,974|4,040,201|387,953|(775,590)|(387,637)|
|Reconciliationoffunds:||||||||
|Balancesbroughtforward||||||||
|at1July||2,558,499|43,651,965|46,210,464|2,170,546|44,427,555|46,598,101|
|Balancescarriedforwardat||||||||
|30June||2,448,726|47,801,939|50,250,665|2,558,499|43,651,965|46,210,464|
||Notes|2021|2021|2020|2020|
|---|---|---|---|---|---|
|Fixedassets||||||
|Tangiblefixedassets|10||—||—|
|Investmentproperties|11||11,525,000||11,725,000|
|Listedinvestments|12||26,709,139||32,591,312|
|Totalfixedassets|||38,234,139||44,316,312|
|Currentassets||||||
|Debtors|13|3,892||600||
|Shorttermdeposits||12,064,843||2,048,285||
|Cashatbank||55,832||4,586||
|Totalcurrentassets||12,124,567||2,053,471||
|Liabilities||||||
|Creditors:amountsfallingdue||||||
|withinoneyear|14|(108,041)||(159,319)||
|Netcurrentassets|||12,016,526||1,894,152|
|Totalnetassets|||50,250,665||46,210,464|
|Thefundsofthecharity||||||
|Accumulatedincomefund|||2,448,726||2,558,499|
|Endowmentfund|||47,801,939||43,651,965|
||15||50,250,665||46,210,464|
##
##
|||2021|2020|
|---|---|---|---|
||Notes|£|£|
|Cashflowsfromoperatingactivities:||||
|Netcashusedinordinaryoperatingactivities|A|(1,393,859)|(1,020,427)|
|Cashflowsfrominvestingactivities:||||
|Investmentincome||`1,229,515`|1,341,721|
|Proceedsfromthedisposalofinvestments||17,687,390|5,599,540|
|Purchaseofinvestmentsandinvestmentproperties||(6,871,282)|(5,431,632)|
|Netcashprovidedbyinvestingactivities||12,045,623|1,509,629|
|Changeincashandcashequivalentsintheyear||10,651,764|489,202|
|Cashandcashequivalentsat1July|B|2,845,535|2,356,333|
|Cashandcashequivalentsat30June|B|13,497,299|2,845,535|
||activities|||||
|---|---|---|---|---|---|
|||||2021|2020|
|||||£||
||Netmovementinfunds(asperthestatementoffinancialactivities)|||4,040,201|(387,637)|
||Adjustmentsfor:|||||
||(Gains)lossesonlistedinvestments|||(4,349,974)|659,293|
||Lossesoninvestmentproperty|||200,000||
||Investmentincome|||(1,229,515)|(1,341,721)|
||(Increase)decreaseindebtors|||(3,292)|54,000|
||(Decrease)increaseincreditors|||(51,279)|(4,362)|
||Netcashusedinordinaryoperatingactivities|||(1,393,859)|(1,020,427)|
|B|Analysisofchangesinnetdebt|||||
|||At|1July||At30June|
||||2020|Cashflows|2021|
||Cashatbankandinhand||4,586|51,246|55,832|
||Shorttermdeposits|2,048,285||10,016,558|12,064,843|
||Cashheldbyinvestmentmanagers(note12)|792,664||583,960|1,376,624|
||Totalcashandcashequivalents|2,845,535||10,651,764|13,497,299|
##
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||Unrestricted|Endowment||Unrestricted|Endowment||
|---|---|---|---|---|---|---|
||funds|
fund|2021|funds|fund|2020|
||£|£|£|f|£|£|
|Propertyrentalincome|286,366|
—|286,366|350,463||350,463|
|Investmentincome|941,850|
-|941,850|983,341|
-|983,341|
|Bankdepositinterest|1,299||1,299|7,417||7,417|
|Other|—||—|500|—|500|
||1,229,515|—|1,229,515|1,341,721|—|1,341,721|
##
||Unrestricted|Endowment||Unrestricted|Endowment||
|---|---|---|---|---|---|---|
||funds|
fund|2021|funds|fund|2020|
||£|£|£|£|£|£|
|Costsofmanaginglisted|113,163||113,163||116,297|116,297|
|investments|||||||
||113,163||113,163||116,297|116,297|
##
|Charitableactivities|||||||
|---|---|---|---|---|---|---|
||Unrestricted|Endowment||Unrestricted|Endowment||
||funds|
fund|2021|funds|fund|2020|
||£|£|£|£|£|£|
|Grantfundingofactivities|1,164,390||1,164,390|866,780||866,780|
|(note4)|||||||
|Supportcosts|||||||
|Premisescosts|617|—|617|63|—|63|
|Officeexpenses|3,167|—|3,167|2,939||2,939|
|Professionalfees|46,628||46,628|75,753|—|75,753|
|Governancecosts(note6)|11,323|—|11,323|8,233||8,233|
||61,735|—|61,735|86,988|—|86,988|
|Totalfunds|1,226,125||113,163|953,768||116,297|
##
||2021|2020|
|---|---|---|
|Grantspayabletoorganisations|£|£|
|Literacyandnumeracy:|||
|PartnersinLearning||(3,231)|
|HegartyMaths||4,800|
|AmblerPrimarySchool|20,500|12,083|
|AshmountPrimarySchool|13,242||
|DraytonParkPrimarySchool|35,624||
|DuncombePrimarySchool|32,583||
|HanoverPrimarySchool|13,746||
|HighburyQuadrant|14,000||
|HughMiddletonPrimarySchool|10,998||
|MontemPrimarySchool|25,498|14,500|
|RotherfieldPrimarySchool|9,339|7,733|
|Thornhillacademy||20,000|
|EleanorPalmerPrimarySchool||37,300|
|ActionTutoring|39,712|36,000|
|NewNorthAcademy|19,568|156,600|
|(prioryearsrefund)|(10,095)||
|PakemanPrimarySchool|46,447|151,500|
|(prioryearsrefund)|(50,493)||
|VittoriaPrimarySchool|10,000||
|MorelandPrimarySchool|11,473||
|LondonBoroughofIslington(library)|1,000|99,989|
|ExceptionalGrants|||
|CamdenLearning|120,263||
|IslingtonFuturesFederation|63,831||
|LondonBoroughofIslington|125,000||
|CareersEducationandGuidanceProgramme|||
|.LondonBoroughofCamden|8,060|17,900|
|.SamuelRhodesSchool||17,316|
|.HampsteadSchool||(20,605)|
|.SMMA|32,300|22,100|
|.EGASchool||55,000|
|(prioryearsrefund)|(17,814)||
|.LSUSchool||16,000|
|.NRCollege||22,408|
|.HaverstockSchool|6,000|6,000|
|.ParliamentHillSchool||14,468|
|.CareerReady|40,000|40,000|
|.LondonBoroughofIslington||16,544|
|.COLAI|(2092)|9,550|
|.LTSB||12,000|
|Heritage:|||
|Christ'sHospital|39,200|39,000|
|Music:|||
|CamdenMusicTrust||11,825|
|Totalgrantstoorganisations|657,890|816,780|
##
|gofactivities(continued)|||
|---|---|---|
||2021|2020|
|Grantspayabletoindividuals|||
|CityUniversity(blockgrant)|—|25,000|
|CityandIslingtonCollege(blockgrant)|25,000|25,000|
|HardshipsGrantsIslingtonandCamden|481,500|—|
|Totalgrantspayabletoindividuals|506,500|50,000|
|Totalgrantspayable|1,164,390|866,780|
||2021-22|2022-23|2023-24|
|---|---|---|---|
|||`£`|`£`|
|Rotherfield|11,600|||
|Ambler|14,500|||
|Montem|14,500|||
|Pakeman|33,000|||
|Duncombe|14,500|||
|DraytonPark|14,500|||
|NewNorthAcademy|17,400|||
|CityUniversity|25,000|25,000||
||145,000|25,000||
|osts|||
|---|---|---|
||2021|2020|
||`£`|`£`|
|Auditor'sremuneration|11,323|8,233|
||11,323|8,233|
||2021|2020|
|---|---|---|
||`£`|£|
|Auditor'sremuneration|||
|.Statutoryaudit|||
|-Currentyearcharge|9,900|8,233|
|-Prioryearcharge|1,423||
|Staffcosts(note8)|||
##
|assets||
|---|---|
||Furnitureand|
||equipment|
|Cost||
|At1July2020|2,184|
|Disposal|(2,184)|
|At30June2021||
|Depreciation||
|At1July2020|2,184|
|Disposal|(2,184)|
|At30June2021||
|Netbookvalue||
|At30June2021||
|At30June2020||
##
|operties|||
|---|---|---|
||2021|2020|
|Atvaluation|||
|At1July|11,725,000|11,725,000|
|Revaluationduringtheyear|(200,000)||
|At30June|11,525,000|11,725,000|
||2021|2020|
|---|---|---|
||`£`|£|
|40BeakStreet|5,625,000|5,950,000|
|1/3UpperJamesStreet|5,900,000|5,775,000|
||11,525,000|11,725,000|
##
##
|ents|||
|---|---|---|
||2021|2020|
||`£`|`£`|
|At1July|31,798,648|32,625,849|
|Additions|6,871,282|5,431,632|
|Disposals(proceeds:£17,687,390,realisedgains£1,100,120)|(16,587,270)|(5,628,506)|
|Unrealisedgains(losses)|3,249,855|(630,327)|
|Marketvalueat30June|25,332,515|31,798,648|
|Cashheldbyinvestmentmanagerforreinvestment|1,376,624|792,664|
|At30June|26,709,139|32,591,312|
|Historicalcostoflistedinvestmentsat30June(includingcash)|19,972,198|27,795,506|
||Total|Total|
||2021|2020|
||`£`|£|
|Listedinvestmentscomprise:|||
|UKfixedinterest|2,010,508|4,506,622|
|UKEquities|4,066,398|5,817,342|
|Overseasfixedinterest|291,375|293,359|
|Overseasequities|15,736,419|16,904,866|
|Portfoliofunds||690,028|
|Property|1,206,409|1,152,339|
|Others|2,021,406|2,434,092|
||25,332,515|31,798,648|
##
||2021|2020|
|---|---|---|
||`£`|`£`|
|Otherdebtorsandprepayments|3,892|600|
||3,892|600|
##
||2021|2020|
|---|---|---|
||`£`|`£`|
|Othercreditors|—|8,863|
|VATpayable|12,891|15,529|
|Accruals|28,900|47,312|
|Deferredincome|66,250|87,615|
||108,041|159,319|
|tassetsbetweenfunds||||
|---|---|---|---|
||Unrestricted|Endowment||
||funds|fund|Total|
||`£`|`£`|`£`|
|Fundbalancesat30June2021arerepresentedby:||||
|Investmentproperties||11,525,000|11,525,000|
|Listedinvestments|1,376,624|25,332,515|26,709,139|
|Shorttermdeposits|1,233,582|10,831,261|12,064,843|
|Othernetcurrentliabilities|(48,317)||(48,317)|
||2,561,889|47,688,776|50,250,665|
||Unrestricted|Endowment||
||funds|fund|Total|
||£|||
|Fundbalancesat30June2020arerepresentedby:||||
|Investmentproperties||11,725,000|11,725,000|
|Listedinvestments|664,347|31,926,965|32,591,312|
|Shorttermdeposits|2,048,285||2,048,285|
|Othernetcurrentliabilities|(154,133)||(154,133)|
||2,558,499|43,651,965|46,210,464|
##
||2021|2020|
|---|---|---|
||`£`|`£`|
|Unrealisedgainsincludedabove:|||
|Oninvestmentproperties|10,366,233|10,566,233|
|Onlistedinvestments|5,360,317|4,003,142|
|Totalunrealisedgainsat30June|15,726,550|14,569,375|
|Reconciliationofmovementsinunrealisedgains|||
|Unrealisedgainsat1July|14,569,375|15,936,037|
|Less:inrespecttodisposalsintheyear|(1,892,680)|(736,335)|
||12,676,695|15,199,702|
|Add:netgainsarisingonrevaluationintheyear|3,049,855|(630,327)|
|Totalunrealisedgainsat30June|15,726,550|14,569,375|