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|Trustees||A M Baker, Chair1|A M Baker, Chair1|||||
|---|---|---|---|---|---|---|---|
|||Rev BBatstone2||||||
|||SGoldberg
(resigned||31 October 2022)||||
|||E C Griffith||||||
|||TJ Hammett1||||||
|||Archdeacon J E|I Hawkins|||||
|||J Manyan||||||
|||P C Roberts MBE (appointed|||1 September 2022)2|||
|||I R M Woolf1,3||||||
|||" Members ofthe Investment|||Committee|||
|||~ Ex Officio Trustees
' Ex Officio Trustee to 31/08/2022,||||appointed|as co-opted Trustee on 03/10/2022|
|Charity registered||||||||
|number||1160318||||||
|Principal office||St Mary's C of E|Primary School|||||
|||Rectory Gardens||||||
|||London||||||
|||N8 7PJ||||||
|Independent|auditors|BKLAudit LLP||||||
|||Chartered
Accountants||||||
|||Statutory
Auditor||||||
|||35 Ballards Lane||||||
|||London||||||
|||N3 1XW||||||
|Bankers||National
Westminster||Bank Plc||||
|||The Broadway||||||
|||1 Crouch End Hill||||||
|||London||||||
|||N8 8DL||||||
|Investment|managers|Barclays||||||
|||1 Churchill
Place||||||
|||Canary Wharf||||||
|||London||||||
|||E145HP||||||
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|||||Unrestricted|Total|Total|
|---|---|---|---|---|---|---|
|||||funds|funds|funds|
|||||2021|2021|2020|
||||Note|f.|f.||
|Income from:|||||||
|Investments||||310,129|310,129|398,934|
|Total income||||310,129|310,129|398,934|
|Expenditure
on:|||||||
|Raising funds||||124,889|124,889|118,302|
|Charitable
activities||||791,426|791,426|612,086|
|Total expenditure||||916,315|916,315|730,388|
|Net movement|in funds before other recognised||||||
|gains||||(606,186)|(606,186)|(331,454)|
|Other recognised||gains:|||||
|Gains on revaluation||offixed assets||6,136,466|6,136,466|210,532|
|Net movement|in funds|||5,530,280|5,530,280|(120,922)|
|Reconciliation|offunds:||||||
|Total funds brought||forward||21,967,198|21,967,198|22,088,120|
|Net movement|in funds|||5,530,280|5,530,280|(120,922)|
|Total funds carried forward||||27,497,478|27,497,478|21,967,198|
##
||||||2021||2020|
|---|---|---|---|---|---|---|---|
||||Note||f.|||
|Fixed assets||||||||
|Investments|||||28,026,159||22,445,367|
||||||28,026,159||22,445,367|
|Current assets||||||||
|Debtors|||10|25,999||17,128||
|Cash at bank and|in hand|||88,751||106,703||
|||||114,750||123,831||
|Creditors: amounts|falling due within one|||||||
|year|||11|(643,431)||(602,000)||
|Net current liabilities|||||(528,681)||(478,169)|
|Total assets less|current liabilities||||27,497,478||21,967,198|
|Net assets excluding||pension asset|||27,497,478||21,967,198|
|Total net assets|||||27,497,478||21,967,198|
|Charity funds||||||||
|Restricted
funds|||12|||||
|Unrestricted
funds|||12||27,497,478||21,967,198|
|Total funds|||||27,497,478||21,967,198|
##
|||||2021|2020|
|---|---|---|---|---|---|
|Cash flows from operating||activities||||
|Net cash|used
in operating|activities||(883,755)|(721,773)|
|Cash flows from investing||activities||||
|Dividends,|interests
and rents from investments|||310,129|398,934|
|Proceeds|from sale of investments|||8,225,229|333,173|
|Purchase|of investments|||(7,669,555)||
|Net cash|provided
by investing
activities|||865,803|732,107|
|Cash flows from financing||activities||||
|Net cash|provided
by financing
activities|||||
|Change
in cash and cash||equivalents
in|the year|(17,952)|10,334|
|Cash and|cash equivalents|at the beginning|ofthe year|106,703|96,369|
|Cash and|cash equivalents|at the end of|the year|88,751|106,703|
|The notes|on pages 16to 25 form part ofthese financial statements|||||
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|Quoted|investments|
|---|---|
|Quoted|investments|
|Unrestricted|Total|
|---|---|
|funds|funds|
|2021|2021|
|310,129|310,129|
|Unrestricted|Total|
|funds|funds|
|2020|2020|
|398,934|398,934|
##
||||Unrestricted|Total|
|---|---|---|---|---|
||||funds|funds|
||||2021|2021|
|Investment|management|fees|124,727|124,727|
|Tax payments|||162|162|
||||124,889|124,889|
||||Unrestricted|Total|
||||funds|funds|
||||2020|2020|
|Investment|management|fees|118,302|118,302|
##
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|||||Grants to|Grants to|Grants to|Total|
|---|---|---|---|---|---|---|---|
|||||Institutions||Individuals|funds|
||||||2021|2021|2021|
|Grants to schools/beneficiaries||||764,200||3,000|767,200|
|||||||Grants to|Total|
|||||||Institutions|funds|
|||||||2020|2020|
|Grants to schools/beneficiaries||||||581,000|581,000|
|The Charity has made the following||material|grants to institutions|during|the|year:||
|||||||2021|2020|
|Name of institution||||||||
|Greig City Academy||||||240,000|211,000|
|Bishop Stopford's School||||||20,400||
|StAidian's VC Primary School||||||25,000|15,000|
|St Michael-at-Bowes||||||21,800|11,000|
|St Mary's C of E Primary|School|||||255,000|224,000|
|St Ann's CE Primary School||||||35,000|25,000|
|St Michael's CE Primary|School|||||30,000|25,000|
|St Pauls and All Hallows|Primary School|||||54,000|27,000|
|Holy Trinity CE Primary School||||||35,000|25,000|
|Parish of Holy Innocents|||||||18,000|
|YMCA North
London||||||30,000||
|North London Pastoral Assistants||Scheme||||18,000||
|||||||764,200|581,000|
|||||||764,200|581,000|
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|||Unrestricted||
|---|---|---|---|
|||funds|Total|
|||2021|2021|
|Promoting|education|791,426|791,426|
|||Unrestricted||
|||funds|Total|
|||2020|2020|
|Promoting|education|612,086|612,086|
##
|||Grant|Support
&||
|---|---|---|---|---|
|||funding
of|governance|Total|
|||activities|costs|funds|
|||2021|2021|2021|
|Promoting|education|767,200|24,226|791,426|
|||Grant|Support 8||
|||funding
of|governance|Total|
|||activities|costs|funds|
|||2020|2020|2020|
|Promoting|education|581,000|31,086|612,086|
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|||||||||Promoting|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||||||education|funds|
|||||||||2021|2021|
||Insurance|costs||||||370|370|
||Adminstrator||charges|||||12,388|12,388|
||Bank charges|||||||28|28|
||Telephone|costs||||||640|640|
||Accounting|8|audit costs|||||10,800|10,800|
|||||||||24,226|24,226|
|||||||||Promoting|Total|
|||||||||education|funds|
|||||||||2020|2020|
||Insurance|costs||||||337|337|
||Administrator||charges|||||17,874|17,874|
||Accounting|8|audit costs|||||9,900|9,900|
||Legal fees|||||||2,525|2,525|
||Trustee expenses|||||||450|450|
|||||||||31,086|31,086|
|7.|Auditors'|remuneration||||||||
|||||||||2021|2020|
||Fees payable||to the Charity's|auditor||for the audit ofthe Charity's|annual|||
||accounts|||||||6,000|4,500|
||Fees payable||to the Charity's|auditor||in respect of:||||
||All non-audit||services not included||above|||3,000|3,750|
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||Listed|Cash on||
|---|---|---|---|
||investments|Portfolio|Total|
|Cost or valuation||||
|At 1 April 2020|22,246,849|198,518|22,445,367|
|Additions|3,448,109|4,221,446|7,669,555|
|Disposals|(3,851,862)|(4,375,575)|(8,227,437)|
|Revaluations|6,138,674||6,138,674|
|At 31 March 2021|27,981,770|44,389|28,026,159|
|Net book value||||
|At 31 March 2021|27,981,770|44,389|28,026,159|
|At 31 March 2020|22,246,849|198,518|22,445,367|
##
|||2021|2020|
|---|---|---|---|
|Due within|one year|||
|Investment|income receivable|25,999|17,128|
|||25,999|17,128|
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|Grant creditors||
|---|---|
|Accruals and deferred|income|
|2021f|2020|
|---|---|
|622,200|581,000|
|21,231|21,000|
|643,431|602,000|
##
|Stateme|nt o|ffunds - curren|t year|||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
||||Balance at 1|||Gains/|31 March|
||||April 2020|Income|Expenditure|(Losses)|2021|
||||f.|f.|f.|f.|f.|
|Unrestricted||funds||||||
|General|Funds - all funds||21,967,198|310,129|(916,315)|6,136,466|27,497,478|
|Stateme|nt o|ffunds - prior y|ear|||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
||||Balance at|||Gains/|31 March|
||||1April 2019|Income|Expenditure|(Losses)|2020|
|Unrestricted||funds||||||
|General|Funds - all funds||22,088,120|398,934|(730,388)|210,532|21,967,198|
##
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|Analysis of net assets between funds - current ye|ar||
|---|---|---|
||Unrestricted|Total|
||funds|funds|
||2021|2021|
|Fixed asset investments|28,026,159|28,026,159|
|Current assets|114,750|114,750|
|Creditors due within one year|(643,431)|(643,431)|
|Total|27,497,478|27,497,478|
##
|Analysis ofnet assets between funds - prior year|||
|---|---|---|
||Unrestricted|Total|
||funds|funds|
||2020|2020|
|Fixed asset investments|22,445,367|22,445,367|
|Current assets|123,831|123,831|
|Creditors due within one year|(602,000)|(602,000)|
||21,967,198|21,967,198|
##
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||||2021|2020|
|---|---|---|---|---|
|Net expenditure
for|the year (as per Statement|of Financial Activities)|(606,186)|(331,454)|
|Adjustments
for:|||||
|Dividends,
interests|and rents from investments||(310,129)|(398,934)|
|Decrease/(increase)|in debtors||(8,871)|5,074|
|Increase
in creditors|||52,331|3,541|
|Net cash used in operating
activities|||(872,855)|(721,773)|
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