||||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|
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||||||||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|
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|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|