Company Repstrthn No. 07493744 IEngl•nd and W•lesl Charity Registrntw Ilo. 1142320 Report oftheTTurtees and Flnancial Statements forthe yearended 31 January 2021 for Old Warwicklan Tn (A Company Limit by Guarantee) *AAEP0ZYP4 0811012021 COMPANIES HOVSE A25 243
Old W•rwi(ki•nTrurt Contents of th¢ financial SLitements Forthe yearended 31 January 2021 Report of the Trnstees Page 2 Independent Examinerfs Report to the Trustee5 Page 7 statement.of Financial Activities Page 8 Balance Sheet Page'9 Notes to the Financial Ststements Page 11
Old Warwickian Tn Reportof the Trustees Forthe year end 31 January 2021 The tTusteeswho are a150 directors of thecharity. present their reportwith the financial statements of the charity for the year ended 31 January 2021 which are aEso prepared to meet the requirements for directors, report and accounts for Companies Act purpo The financial statements have been ppared in accordance wtth the accounting policies set out in notes to the accounts and complywith the tharity'5 governingdocument, the CharitiesArt2011and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their ccounts in accordance with the finarKial Reporting Standard applicable in the UK and Republic of Ireland published in October2019. REFERENCE AND ADMINisfRATIVE DEfAILS Register Cgmpany numb•r 07493784 (England and Wales) Registered Charity number 1142320 PrincipalAddress and R4i5tered Office Edmund House Rugby Ro4d Leamlngton Spa Warwickshire CV32 6EL Trustee$ Mr J SBarker (appointed 3" September20201 Mr J S Button MrSWHaln MrCR N Heaton MrJ C Meredith Mr N J Robinson Dr D A Smith Iresigned 3rf September 20201 Mr D B Stevens Mr R H Thornton Mr C P Willford Solicitors Blythe Liggins Edmund House Rugby Road Leamington Spa warnickshire cirJ2 6EL
Old Vlarnitkian Trust Report of theTnstees {cMtlnued) Fwthe y¢ar ended 31 January2021 Independent Examiners Charlotte Toemaes BSC FCA Ellacotts LLP Chartered Accountants & Registered Auditors 23 West Bar Street Banbury Oxfordshire OX16 9SA Bankers Lloyds Bank plc, 73 The Parade Leamington Spa CV32 488 Stockbrokers and Investment advisors EFG Harris Allday. 33 Gat Charles StreeL 8irrningham 833JN
Old WarnickianTn RePortthe Tnstees Icontinued) Fortheyearended 31 January 2021 STRUCTURI GOVERNANCEAND MANAGEMEI(r Governing document The organisation is a charitsble company limited by guarantee, incorpKirated on 14 January 2011 and registered as a chartyon 8 June2011. The companywas established undera Memorandum ofAssociation. which established the objects and power5 ofthe charitable company and is governed under itsArticles of Association. Appointmentof newtrustoes New trustees are eletted to the board by majorityvote of existingtrustees. Tryst•e induct14)n and trainin¥ Potential new trnstees meet other trustees prior to appointment Trustees are encouraged to attend appropriate external trainingevents where these will facilitstethe undertakingof their role. Organis•tional structure The board oftrustees administers the charity. The board meets a minimum of every twelve months and in the interim is managed by5ub-committeescompri5ingtrustee Risk management Thetrustees have conducted a reviewofthe major risksto which the charityisexposed. where appropriate, systems or procedures have been estsblished to mitigate the risks the charity f3ces. Internal control risks are minimised by the implemertation of Procedures forauthorisation of all transactions and projects. OBJECTIVES ANDAcfMTIE5 The objectives of the chaiity are: - The advancement ofeducation bythe provision ofgrants forcapttsl projects atWapNick School. - To provide scholarship5 and bursaries to pupils and potential pupils of Warwick School 50 that more pupils benefitfrom education atWarwid( School irrespective of theirfamilies. abilityto pay fees. The main objective5 and artivities forthe year were to focus upon the above. To assist the charity to meet these objectives, the management of investments is placed in the hands of a professional advisor to maximise a mixture ofgrowth and retum. ACHIEVEMEwf AND PERFORMA14CE Provision of bursarles During the year under review the charity granted bursaries of £53,360. The trustees are inindful of the incomè generated by the trust now and projected and have agreed additional bursaries in the medium term. The Trust investments showed a decaSe in value during the year. but the trustees are mindfvl that investment values flurtuate, and a(Pt regular advice from the investment advisors to protert the value and incorne as far as is possible.
Old Wanvi¢kianTrust RÈp•rtof theTrustees Icontinued) Far the yearended 31 January 2021 FINANCIAL REVIEW Reserves policy The trustees have examined the charitys requirements for feseNes in the light of the main risks to the organi5ation. In theirviewthe company has adequate but notexcessive reseNes to meet its obligations as they fall due. The level of reserves held atthe end of the year was £1.473,414 and full details are included in note 9t0 the financial statements. Prlndpalfundingsour¢¢s The large majorityoffunding duringthe yeararose from rents receivable and dNidends on investments. Inv¢stmeht polity The policy is for growth and an income return with moderate iisk to maxirnisethatgrowth and income. PUBLIC BENEFIT sfATEMENT This report sets out the objectives of the charity and which are considered for the future. The award of bursaries is to enable boys to attend Warwick Schoolwithout restrrction to people from whatever means. In preparingthe report the trustees confirm that they have referred to the Charity Commisston guidance on public benefiL PLANS FOR FUTURE PERIODS The charity will continue as present and take full advantage of income from investments and rent to achieve its objectives in granting bursarie OVERVIEW OF THE PERIOD For the year 2020121 the Trustees are satisfied that the objects of the charity have been achieved with a commitment to funding bursaries within the criteria v4ith addÉtiortal amounts being considered for 2021122. STATEMÉNT OF TRusfEES' RESPOIISIBIUTIES The trustees (who are also directors of Old Warwickian Trust for the purpose5 of company lawl are responsible for preparing the Trustees. Annual Report and the financial 5tstements in accordance with applicable law and United ingdOM Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law fequires thetrustees to preparefinancialstatementsforeach financial year. Undercompany law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitsble company and of the incoming resources and application of OUrCes. includingthe income and expenditure, of the charitablecompany forthat period. In preparingthese financial statements, the trustees are" required t¢y.
Old W•rwickianTrust Reportofthe Tnthes (contlnued) Fortheyearended 31 January2021 selertsuitabie accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP 2019 IFRS 1021: makejudgements and estimatesthat are reasonable and prudenL' state whether applicable UKAccounting Standards have been followed. subjertto any material departu5 disc105ed and expLiined in the financial statements. prepare the financial statements on the going concem basis unle5S it is inappropriate to presume thatthe charttable companywill continue in operation. The trustee5 are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial positKJn of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguardingthe assets of the charitsble company and hence"fortsking asonable steps forthe pre4tention and detection of fraud and other irregularities. In so faras the ¢rustees are aware: there is no relevant audit infonnation of which the charitable company's auditor is unaware; and the trustees have tsken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. INDEPENDENT EXAMIMER The independent examiner. Charlotte Toemaes B5c FCA of Ellacotts LLP, will be proposed for re• appointmenL ON BEHALFOFTH BOARD: C R N Heaton- Trustee C P Willford- Trustee Date
Old Warwickian Trurt Independofit Examiners Report tothe Trustees Forthe yearondod 31 January2021 I rep(irt on the financial ststements forthe yearended 31 January 2021 setouton pages 8t0 16. Responsibilities and basis of rert The tnjstees (who are 3150 the directors of the companyforthe purposes of company lawl are responsible for the preparation ofthe accounts in accordan wtth the requirements of the Companie5 Act 2006. Having satisfied myself that the accounts ofthecharity are notrequired to be audited under Part16 ofthe 2006 Act and a eligible for independent examination, l pOrt in respert of my examination of your company's accounts a5 carried out undersection 145 of the Charities Art 2011 ('the 2011 Act'l. In carrying out my examination I have followed the Dirertions gtven by the Charity Cornmi$5ion under section 145151{bl ofthe 2011 Act Independent exarninerf55tatement I have completed myexamination. I confimi that no rnatter5 have cometo my attention in connectivn with the examination giving me causeto believe that in any material respect l. Accounting records were1t kept in respert of the company as required by section 386 of the 2006 2. The accountsdo not accord with those record% or 3. The accounts do not comply with the accounting fequirements of sertion 396 of the 2006 Act other than any requirement that the accounts give a and kirview. which is nota matterconsidered as part of an independent exaFnination: or 4. The accounts have not been prepared in accordance with the Methods and principles of the Statement of Recommended Practice for accounts"ngand reportingby charities I have no concerns and have come acrok% no other matters in connection with the examination to whi¢h ttention should be drawn in thls report in order to enable a proper understanding of the accounts to be reached. Charlotte Toemaes B5c FCA Ellacotts LLP Chartered Accountants & Registered Auditors Countrywlde House 23 West Bar Street Banbury Oxfordshire OX16 9SA Date.. 30109121
Old WarwickianTnJt Statementof finan¢ialArti¥its (and Income and Expenditure Account) Forthe yearended 31 January 2021 2021 Total funds 2020 Total funds Unrestricted Restricted fund5 funds Notes INCOMING RESOURCES Incomin8 resources fvom generated funds Donations and gifts Investment income Insurance premium recoverable 559 72.731 3331 69.111 3.981 69.111 3.981 Totsl intoming résourc 73.092 73.092 76,621 RESOURCES EXPENDED Charitable activities 161.793) (61.7931 157,1041 Totsl rosoufces expended (61,793) 161,7931 IS7.1041 NET GAINSIILOSSES) ON INVESTMÉNTS Increasel (decrease) in value ot investments (195281 119,5281 76,946 NÈY INCOMING RESOURCESAND NEr MOVEMENT IN FUNDS FOR THE PERIOP [82291 142291 96,463 RECONCIUATION OF FUNDS Totalfunds brou8ht forward . 1,481,643 1.481,643 1,385.180 TOTAL FUNDS CARRIED FORVIARD 1.473.414 1.473.414 1.481,643
old Warwickian fr4tst B•lan Sheet At 31 January2021 2021 Total Fund5 2020 Total Funds Unrestrtcted Restricted funds funds Notes FIXED A55Ers Investments 1387.750 1387,750 1392,830 I7.750 1387.750 lJ92.830 CURRENT ASSETS Debtors Cash at bank and in hand 20,648 69,171 20.648 69,171 17.888 111574 89.819 89,819 129.462 CREDITORS Amounts fallingdue within one year (4.1551 14,155) 140.6491 NET CURREiifA5SETS 140,649 TOTAL ASSETS LESSCURREirr LIABILITIES 1.473,414 1,473,414 1.481.643 FUMD5 Unrestricted funds Restricted lunds 1.473.414 1,481.643 TOTAL FUNOS 1.473.414 For the year ended 31 January 2021 the charitywas entitled to exemptton from audit under section 4TT ofthe Companies Act 2006 relatingto small companie& Trustees, responstbilitie& The member5 have not required the charity toobtain an audit of its accounts forthe year in question in acCOrdaeW1th sertion476- The tnJstees acknowledge their responsibilities for complying with the reqU1ments of theArt with SpeCtto accounting records and thepreparntion ofxcounts. These financial statements have t*en prepared in accordancewith the spechal provisions applicable to companie5 subject to the5mallcompanles' rewme ofthe companie5kt21JO6.
Old WaThvkkianTnJst Balance Sheet (contlnued) At31 January 2021 The financial statements were approved by the Board of Trustees ort 6 St lertO21 and were signed on its behalf by. C R N Heaton-Trustee C P Willford- Trustee Company Registration No. Q7493784 io
Okl Wanvickian Tnt Notesto the financial Statements Forthe yearended 31 Jamiary2021 ACCOUNTING POUCIES Charity Inforniation Old warWican Trust is a private company limited by guarantee incorporated in England and Wales. The regISted offi.ce is given in the reference and administrativedetsi15 on pagel. Basis of preparntion The charity consiitutes a public benefit entity as defined by FRS 102. The financial ststements have been prepared in accordan with Accountingand Reporting by Charitie5: Statementof Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Sreland issued in Ortober 2019. the financial Reporting Standard. applicable in the United Kingdom and Republic of Iland (FRS 1021. thecharities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Prartice. The accounts are Prepa in sterlin& which is the functional currency of the Old WaNfickian Trust. Monetary amounts in these financial statements are rounded to the nearest £. The slgnificant accounting policies applied in the preparation of these financial statements a set out below. These policies have been consistently applied to all yeats presented unless otherwise stated. Incoffling rn50urces All incoming resources are included on the Statement of financi31 Activities ISOFAI when the charity is legally entitled to the income and the amountcan be quantified with reasonable accuracy. Résources èxpehded All expenditure Is accounted for on an accruats basis and has been classified under headings that ggregate all costs related to the category. Where costs cannot be directly attributed to particular heading5 they have been allocated to activities on a basis consistent with the use of the resources. Charitable actfvltles Charitable expenditure comprises those costs incurred by the Charity in the perforrnance of its aCtivitie5. It includes both costs that can be allocated to Such artivities and those of an indirect nature necessary to supportthèm. Company ststus The charity 15 a company limited by guarantee. The members of the company are the trustees named in the report ofthe ttee$. Fund auountinz General funds are unrestricted funds whb are available for use at the discretion of the trustees in furtherance of the general objertives of the charity and which have not been degnated for other purposes. fixed asset investments Fixed a55et investments are held at market value as at the balance sheet date with movements shown in the SOFK
OldWarnlckl•n Tntst Notes tothe Flnanci•1Ststemefftts (continu) Forthe yeJrended 31 January2021 Investment properties are included in the balance sheet at thropen marketvaluÈ. DepcIatiOn 15 .provided onty on those investrnent propertie5 which a leasehold and where the unexpired lease term is less than 20 years. Finan(ial ipstruments The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments a initially retO8nised at transaction Wdlue and subsequèntly measured at theirsettlerrient value. Taxation The charity is exempt from corporation tsx on its charitsble activities. DONATIONSAND GIFTS 2021 2020 Gift ofcash 559 In 2021, the t.otal of £nil {202(k. £5S9) was attributable to Unrestri fund INVESTMENT INCOME 2021 2020 Dividends and intert received Rents 39.111 30.fM)O 32,731 40.000 69,111 72.731 In 2021, the total of £69,11112020: £TI731) was attr5butable to unrestricted funds. 12
Oldwarwicklan Tntst N¢)tes to the fiTrancial Ststemnts (continued) Forth¢yearended 31 January 2011 RESOURCES EXPENDED Unresrriaed furtds Restricted funds Totsl 2021 Total 2020 DirtChantsble expendire Bursaries awarded Book keepingand'software support Investment management charges Insurance premium payable (including survey feel Bank charges 53J60 53360 47.873 407 3.993 3,331. 2.778 3,981 15 60,134 60,134 55,604 Governance Costs Independent Examinerfs fee5 1.659 1.659 1.5¢X) Total resources expended 61.793 61,793 57.104 In 2021, the totsl resources expended amount of £61.793 (2020: £57,104) was charged to unrestricted funds. TRUSTEES. REMUNERATION AND BEMEFITS The trustees neither rec•ved norwaived any emoluments duringtheyear12020: £nil). FIXEDASSET INVEsfMEKrs 2021 2020 Property Investments 489397 898.353 1.387.750 489.397 903.433 1,392.830 Freehold properties held to provide a returrL UK Valuation as at 31 January 2021 489.397 Market value as at31 January 2021 489397 Investments: Property Valuation brought fotrward 489,397 489.397 Valuation carried forward
Old Warwkklan Trurt Notes to the Fin•nci•l Ststements (continued) Forthe year ended 31 January 2021 FIXED ASSEf INVESTMENTS (Cont'd) 2021 2020 Historical c05tof property 52.041 52,041 Investments Valuation bfOU8ht forward Additions Disposals Decrease in marketvalue 903.433 153.274 1138.8261 119.5281 Valuation carried foThvard 89853 7. DEBTORS: AMOVMTS FALLING DUE WIThIN OME YEAR 2021 2020 Prepayments and acc1 income 20.648 20,648 17.888 17,888 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONEYEAR 2021 2020 Trade creditor5. accruals and deferred income 4.155 40.649 4,155 40,649
OldWarvAcklanTntst Notesto the Financial Statements (continued Forthe yearended 31 January 2021 9. MOVEMENT IN FUNDS Atinr20 Net rnovement in funds At3111121 Unrestri¢t•d funds General fund 1.481,643 (8229) 1,4T3,414 TOTAL FUNDS 1,481.643 18,2291 1,473,414 Net movement in funds, included in the abo are as follo Incoming Resourcès resources expended Gainsand 11055esl Movement in fvnds Unrestrict¢d funds General fund 73.(82 (61.7931 (19,5281 18,229) TOTAL FUMDS 73.(B2 {61.7931 119%81 18,2291 The General Fund represents the free funds which have not been designated for particular purposes. 10. ULTIMATE COMTROLL1116 PARTY The Trustees have overall control ofthe Charitsble Company. 11. RELATED PARTYTRANSACTIONS During theyear, membersof The Old Warwickian A550ciation gifted Enilto Old Wanvickian Trust 12020: £559). Trustees Mr J S Button. and Mr D B Steven5 were committee members of The Association.
Old Warwicki•n Twst Notes to the financial Statements Icontinued) Forthe yearended 31 January 2021 12. ANALYSIS OF NEfASSEfs BETWEEN FUNDS Unrestrtcted Restricted Fund Fund Total 2021 Fixed asset investments. Current assets Current liabilities 1.387.7SO 89.417 (1.550) 1.387,750 89,417 (1,5501 TOTAL FUNDS 1.475.617 1.475.617 Unre5tsirted Fund Restrirted Total Fund 2020 Fixed asset investments Current assets Current liabilities 1?92,830 129,462 (40.6491 lJ92,830 129.462 140,6491 TOTAL FUNDS 1,481.643 The unrestricted funds of the tharity may be applied in accordance with the charit5 Memorandum ofAssociation and in furtherance of its tharitsble objects. 16