| Page | ||||
|---|---|---|---|---|
| Report ofthe Trustees | 1 | to | 7 | |
| Report ofthe independent Auditors |
8 | to | 9 | |
| Statement ofFinancial Activities |
10 | |||
| Balance Sheet | ||||
| Cash Flow Statement | 12 | |||
| Notes to the Cash Flow Statement | 13 | |||
| Notes to the Financial Statements | 14 | to | 22 | |
| Detailed Statement ofFinancial |
Activities | 23 | to | 24 |
| 2022 | 2021 | |||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||||
| fund | funds | funds | funds | |||||
| Notes | ||||||||
| INCOIVIL" | AND ENDOWMENTS | FROM | ||||||
| Donations | and legacies | 2,102 | 2,102 | 759 | ||||
| Investment | income | 478,838 | 478,838 | 553,172 | ||||
| Total | 480,940 | 480,940 | 553,931 | |||||
| EXPEiNDITURE ON | ||||||||
| Raising funds | 174,346 | 174,346 | 150,877 | |||||
| Charitable | activities | |||||||
| Grants to Foundationers | 918,773 | 918,773 | 607,201 | |||||
| Total | 1,093,119 | 1,093,119 | 758,078 | |||||
| Net gains | on investments | 115,015 | 115,015 | 4,608,596 | ||||
| NET INCOIVI E/(EXP END IT U RE) | (497,164) | (497,164) | 4,404,449 | |||||
| RECONC | ILIA'I'ION | OF FUNDS | ||||||
| Total funds brought | forward | 20,659,675 | 17,461 | 20,677,136 | 16,272,687 | |||
| TOTAL FUiNDS CARRIED FORWARD | 20,162,511 | 17,461 | 20,179,972 | 20,677,136 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | funds | funds | funds | |||
| Notes | ||||||
| FIXEDASSETS | ||||||
| Tangible assets |
10 | 27,985 | 27,985 | 14,759 | ||
| Investments | ||||||
| Investments | 11 | 16,803,705 | 16,803,705 | 16,735,034 | ||
| Investment property |
12 | 4,200,000 | 4,200,000 | 4,200,000 | ||
| 21,031,690 | 21,031,690 | 20,949,793 | ||||
| CURRENT ASSETS | ||||||
| Debtors | 13 | 1,396 | 1,396 | 979 | ||
| Cash at bank and in hand | 31,897 | 17,461 | 49,358 | 199,060 | ||
| 33,293 | 17,461 | 50,754 | 200,039 | |||
| CRE1DITORS | ||||||
| Amounts falling due within |
one year | 14 | (377,387) | (377,387) | (266,184) | |
| NET CURRENT ASSETS | ~344,094) | 17,461 | ~326,633) | ~66,146) | ||
| TOTAL ASSETSLESSCURRFNT | ||||||
| LIABILITIES | 20,687,596 | 17,461 | 20,705,057 | 20,883,648 | ||
| CREDITORS | ||||||
| Amounts falling due after more than one year |
15 | (525,085) | (525,085) | (206,512) | ||
| NET ASSETS | 20,162,511 | 17,461 | 20,179,972 | 20,677,136 | ||
| FUNDS | 17 | |||||
| Unrestricted funds |
20,162,511 | 20,659,675 | ||||
| Restricted funds |
17,461 | 17,461 | ||||
| TOTAL FUNDS | 20,179,972 | 20,677,136 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Notes | |||||
| Cash flows from operating | activities | ||||
| Cash generated from operations |
~655,504) | ~534,530) | |||
| Net cash used in operating | activities | ~655,504) | ~534,530) | ||
| Cash flows from investing | activities | ||||
| Purchase oftangible fixed assets |
(19,380) | (15,245) | |||
| Purchase offixed asset investments | (5,247,904) | (7,351,029) | |||
| Sale offixed asset investments | 5,294,248 | 7,486,755 | |||
| Interest received | 168 | ||||
| Dividends received |
301,122 | 375,705 | |||
| Rental income received | 177,716 | 177,299 | |||
| Net cash provided by investing activities |
505,802 | 673,653 | |||
| Change in cash and cash | equivalents | in | |||
| the reporting period |
(149,702) | 139,123 | |||
| Cash and cash equivalents | at the | ||||
| beginning ofthe reporting |
period | 199,060 | 59,937 | ||
| Cash and cash equivalents | at the end | of | |||
| the reporting period |
49,358 | 199,060 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Net (expenditure)/income | for the reporting | period (as per the | ||
| Statement ofFinancial Activities) Adjustments for: |
(497,164) | 4,404,449 | ||
| Depreciation charges |
6,154 | 901 | ||
| Gain on investments | (115,015) | (4,608,596) | ||
| Interest received | (168) | |||
| Dividends received |
(301,122) | (375,705) | ||
| Rental income received | (177,716) | (177,299) | ||
| (Increase)/decrease in debtors |
(417) | 5,452 | ||
| Increase in creditors | 429,776 | 216,436 | ||
| Net cash used in operations | ~655,504) | ~534,530) |
| At 1.9.21 | Cash flow | At 31.8.22 | |
|---|---|---|---|
| E | |||
| Net cash | |||
| Cash at bank and in hand | 199,060 | (149,702) | 49,358 |
| 199,060 | (149,702) | 49,358 | |
| Total | 199,060 | t)49,702) | 49,358 |
| 2. | DONATIONS AND LE |
GACIES | |||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Donations | 2,102 | 759 | |||
| 3. | INVESTMENT INCOME | ||||
| 2022 | 2021 | ||||
| Rents received Dividend income Deposit account interest |
177,716 301,122 |
177,299 375,705 168 |
|||
| 478,838 | 553,172 | ||||
| 4. | RAISING FUNDS | ||||
| Investment management |
costs | ||||
| 2022 | 2021 | ||||
| Portfolio management Maintenance charges |
153,317 649 |
139,097 729 |
|||
| Rates Legal k professional Insurance Custodian Trustee fees |
1,331 12,922 3,534 2,593 |
1,485 6,508 3,058 |
|||
| 174,346 | 150,877 | ||||
| 5. | CFIARITABLE ACTIVITIES COSTS | ||||
| Grant | |||||
| funding of | |||||
| activities | Support | ||||
| (see note | costs (see | ||||
| 6) | note 7) | Totals | |||
| E | |||||
| Grants to Foundationers | 760,193 | 158,580 | 918,773 | ||
| 6. | GRANTS PAYABLE | ||||
| 2022 | 2021 | ||||
| Grants to Foundationers | 760,193 | 458,419 |
| SUPPORT | COSTS | ||||||
|---|---|---|---|---|---|---|---|
| Governance | |||||||
| Management | Finance | costs | Totals | ||||
| I: | |||||||
| Grants to Foundationers | 148,677 | 543 | 9,360 | 158,580 | |||
| Support costs, included | in thc above, | are as | follows: | ||||
| 2022 | 2021 | ||||||
| Grants to | Total | ||||||
| Foundationers | activities | ||||||
| Wages | 103,741 | 89,688 | |||||
| Social security | 6,040 | 3,011 | |||||
| Pensions | 195 | 195 | |||||
| Light, heat and water | 2,047 | 1,592 | |||||
| Telephone | 3,041 | 2,845 | |||||
| Postage and | stationery | 795 | 92 | ||||
| Advertising | 4,000 | 675 | |||||
| Sundries | 5,358 | 9,977 | |||||
| Head Office Rent Travel k subsistence |
16,800 96 |
16,800 | |||||
| Subscriptions | 410 | 577 | |||||
| Bookkeeping | 14,459 | ||||||
| Depreciation | oftangible | and heritage | assets | 6,154 | 901 | ||
| Bank charges | 543 | 775 | |||||
| Bad debts | 35 | ||||||
| Auditors' remuneration |
9,360 | 7,160 | |||||
| 158,580 | 148,782 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Wages | and salaries | 103,741 | 89,688 | |
| Social | security | costs | 6,040 | 3,011 |
| Other | pension | costs | 195 | 195 |
| 109,976 | 92,894 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Management | and | administration | 2 | 1 |
| Fundraising | and | welfare | 1 | 1 |
| 10. | The total employee benefits ofthe key manageme TAiNGIBLE FIXEDASSETS |
nt personnel ofthe charity wer |
e f60,691(20 | 21:256,520). |
|---|---|---|---|---|
| Motor | Computer | |||
| vehicles | equipment | Totals | ||
| f. | ||||
| COST | ||||
| At 1st September 2021 |
13,104 | 9,370 | 22,474 | |
| Additions | 19,380 | 19,380 | ||
| At 31stAugust 2022 | 13,104 | 28,750 | 41,854 | |
| DEPRECIATION | ||||
| At 1st September 2021 Charge for year |
2,621 | 7,715 3,533 |
7,715 6,154 |
|
| At 31st August 2022 | 2,621 | 11,248 | 13,869 | |
| NET BOOK VALUE | ||||
| At 31st August 2022 | 10,483 | 17,502 | 27,985 | |
| At 31st August 2021 | 13,104 | 1,655 | 14,759 | |
| 11. | FIXED ASSET INVESTIVIENTS | |||
| Cash and | ||||
| Listed | settlements | |||
| investments | pending | Totals | ||
| f. | E | |||
| MARKET VALUL' | ||||
| At 1st September 2021 |
15,618,157 | 1,116,877 | 16,735,034 | |
| Additions | 2,526,259 | 2,721,645 | 5,247,904 | |
| Disposals Revaluations |
(2,063,509) ~437,637i |
(2,678,087) | (4,741,596) ~437,637) |
|
| At 31st August 2022 | 15,643,270 | 1,160,435 | 16,803,705 | |
| NET BOOK VALUE | ||||
| At 31st August 2022 | 15,643,270 | 1,160,435 | 16,803,705 | |
| At 31st August 2021 | 15,618,157 | 1,116,877 | 16,735,034 |
| Cash and | Cash and | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Listed | settlements | |||||||||||||
| investments | pending | Totals | ||||||||||||
| Valuation in 2022 |
I5,643,270 | 1,160,435 | I6,803,705 | |||||||||||
| 12. | INVESTMENT PROPERTY | |||||||||||||
| I AIR VALUE | ||||||||||||||
| At 1st September 2021 |
||||||||||||||
| and 31st August 2022 | 4,200,000 | |||||||||||||
| NET BOOK VALUE | ||||||||||||||
| At 31st August 2022 | 4,200,000 | |||||||||||||
| At 3 Ist August 2021 | 4,200,000 | |||||||||||||
| Bearwood Estate was |
valued | in the year | ended | 31 August | 2021 | by | Strutt | and | Parker, | the | fair value | was | ||
| estimated at 54,200,000. |
||||||||||||||
| Fair value at 31st August | 2022 | is represented | by: | |||||||||||
| Valuation in 2022 |
4,200,000 | |||||||||||||
| 13. | DFBTORS: AMOUNTS | FALLliVG DUF. | WITHIN ONE YEAR | |||||||||||
| 2022 | 2021 | |||||||||||||
| Prepayments and accrued |
income | 1,396 | 979 |
| CREDITORS: AMO | UNTS FALLING DUE WITIIIN | ONE YEAR | |
|---|---|---|---|
| 2022 | 2021 | ||
| Trade creditors | 974 | 401 | |
| Social security and other taxes Grants payable Deposits received |
2,442 328,293 900 |
2,010 219,583 900 |
|
| Accruals and deferred |
income | 44,778 | 43,290 |
| 377,387 | 266,184 |
| CREDITORS: AMOUNTS | FALLING DUE AFTER MO | RE THAN ONE YEAR | |
|---|---|---|---|
| 2022 | 2021 | ||
| Grants payable | 525,085 | 206,512 | |
| 2022 | 2021 | ||
| Brought forward Net new grant commitments Paid in the year |
in the year | 426,095 212,128 771,572 458,419 (344,289)~244,432) |
|
| Carried forward | 853,378 | 426,095 | |
| Due: | |||
| In less than one year After more than one year |
328,293 525,085 |
219,583 206,512 |
|
| 853,378 | 426,095 |
| 2022 | 2021 | |
|---|---|---|
| Within one year Between one and five years |
16,800 35,700 |
16,800 52,500 |
| 52,500 | 69,300 |
| MOVElV | IE | N | T IN FUNDS |
|||
|---|---|---|---|---|---|---|
| Net | ||||||
| movement | At | |||||
| At 1.9.21 | in funds | 31.8.22 | ||||
| Unrestricted | funds | |||||
| General | fund | 20,659,675 | (497,164) | 20,162,511 | ||
| Restricted | funds | |||||
| Underhill | 311 | 311 | ||||
| Watson | 904 | 904 | ||||
| Capital Flats | 12,962 | 12,962 | ||||
| Tree Fund | 3,284 | 3,284 | ||||
| 17,461 | 17,461 | |||||
| TOTAL | FUNDS | 20,677,136 | ~497,)64) | 20,179,972 |
| Net movement | in funds, included | in funds, included | in the above are as follows: | |||
|---|---|---|---|---|---|---|
| Incoming | Resources | Gains and | Movement | |||
| resources | expended | losses | in funds | |||
| Unrestricted | funds | |||||
| General fund |
480,940 | (1,093,119) | 115,015 | (497,164) | ||
| TOTAL FUNDS | 480,940 | ~),093,))9) | l)5,015 | ~497,164) | ||
| Comparatives | for movement | in | funds | |||
| Net | ||||||
| movement | At | |||||
| At 1.9.20 | in funds | 31.8.21 | ||||
| Unrestricted | funds | |||||
| General fund |
16,255,226 | 4,404,449 | 20,659,675 | |||
| Restricted funds |
||||||
| Underhill | 311 | 311 | ||||
| Watson | 904 | 904 | ||||
| Capital Flats | 12,962 | 12,962 | ||||
| Tree I'und | 3,284 | 3,284 | ||||
| 17,461 | 17,461 | |||||
| TOTAL FUNDS | 16,272,687 | 4,404,449 | 20,677,136 |
| Incoming | Resources | Gains and | Movement | |||
|---|---|---|---|---|---|---|
| resources | expended | losses | in funds | |||
| Unrestricted | funds | |||||
| General | fund | 553,931 | (758,078) | 4,608,596 | 4,404,449 | |
| TOTAL | FUNDS | 553,931 | ~758,0787 | 4,608,596 | 4,404,449 |
| Net | ||||||
|---|---|---|---|---|---|---|
| movement | At | |||||
| At 1.9.20 | in funds | 31.8.22 | ||||
| f. | ||||||
| Unrestricted | funds | |||||
| General | fund | 16,255,226 | 3,907,285 | 20,162,511 | ||
| Restricted | funds | |||||
| Underhill | 311 | 311 | ||||
| Watson | 904 | 904 | ||||
| Capital Flats | 12,962 | 12,962 | ||||
| Tree Fund | 3,284 | 3,284 | ||||
| 17,461 | 17,461 | |||||
| TOTAL | FUNDS | 16,272,687 | 3,907,285 | 20,179,972 |
| incoming | Resources | Gains and | Movement | |||
|---|---|---|---|---|---|---|
| rcsourccs | expended | losses | in funds | |||
| F. | ||||||
| Unrestricted | funds | |||||
| General | fund | 1,034,871 | (1,851,197) | 4,723,611 | 3,907,285 | |
| TOTAL | FUNDS | 1,034,871 | (1,851,197) | 4,723,611 | 3,907,285 |
| 2022 | 2021 | ||
|---|---|---|---|
| INCOME AND ENDOWMENTS | |||
| Donations and legacies |
|||
| Donations | 2,102 | 759 | |
| Investment income |
|||
| Rents received | 177,716 | 177,299 | |
| Dividend income |
301,122 | 375,705 | |
| Deposit account interest | 168 | ||
| 478,838 | 553,172 | ||
| Total incoming resources |
480,940 | 553,931 | |
| EXPENDITURE | |||
| Investment management |
costs | ||
| Portfolio management | 153,317 | 139,097 | |
| Maintenance charges |
649 | 729 | |
| Rates | 1,331 | 1,485 | |
| Legal &professional | 12,922 | 6,508 | |
| Insurance | 3,534 | 3,058 | |
| Custodian Trustee fees |
2,593 | ||
| 174,346 | 150,877 | ||
| Charitable activities |
|||
| Grants to individuals | 760,193 | 458,419 | |
| Support costs | |||
| Management | |||
| Wages | 103,741 | 89,688 | |
| Social security | 6,040 | 3,011 | |
| Pensions | 195 | 195 | |
| Light, heat and water | 2,047 | 1,592 | |
| Telephone | 3,041 | 2,845 | |
| Postage and stationery | 795 | 92 | |
| Advertising | 4,000 | 675 | |
| Sundries | 5,358 | 9,977 | |
| Head Office Rent | 16,800 | 16,800 | |
| Travel k, subsistence | 96 | ||
| Subseriptions | 410 | 577 | |
| Bookkeeping | 14,459 | ||
| Depreciation ofcomputer |
equipment | 6,154 | 901 |
| 148,677 | 140,812 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Management | ||||
| Finance | ||||
| Bank charges | 543 | 775 | ||
| Other | ||||
| Bad debts | 35 | |||
| Governance costs |
||||
| Auditors' remuneration |
9,360 | 7, | 160 | |
| Total resources expended | 1,093,119 | 758,078 | ||
| Net expenditure before gains and losses |
(612,179) | (204, | 147) | |
| Realised recognised | gains and losses | |||
| Realised gains/(losses) | on fixed asset investments | 552,652 | 224,327 | |
| Net (expenditure)/income | ~59,5272 | 20, | 180 |