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|Trustees||A M Baker1||||||
|---|---|---|---|---|---|---|---|
|||Rev BBatstone2||||||
|||C EAdlam
(appointed||3 March|2023, resigned||22 September 2023)|
|||E C Griffith||||||
|||TJ Hammett1||||||
|||Archdeacon J E|I Hawkins|||||
|||J Manyan||||||
|||P C Roberts MBE2||||||
|||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|
||||||2023|2023|2022|
|||||Note|f.|f.||
|Income from:||||||||
|Investments|||||248,533|248,533|263,394|
|Total income|||||248,533|248,533|263,394|
|Expenditure
on:||||||||
|Raising funds|||||116,978|116,978|135,471|
|Charitable
activities|||||783,252|783,252|706,543|
|Total expenditure|||||900,230|900,230|842,014|
|Net movement|in|funds before other recognised||||||
|gains/(losses)|||||(651,697)|(651,697)|(578,620)|
|Other recognised||gains/(losses):||||||
|(Losses)/gains|on|revaluation|of fixed assets||(1,560,498)|(1,560,498)|1,852,578|
|Net movement|in|funds|||(2,212,195)|(2,212,195)|1,273,958|
|Reconciliation|of|funds:||||||
|Total funds brought||forward|||28,771,436|28,771,436|27,497,478|
|Net movement|in funds||||(2,212,195)|(2,212,195)|1,273,958|
|Total funds carried forward|||||26,559,241|26,559,241|28,771,436|
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||||||2023||2022|
|---|---|---|---|---|---|---|---|
||||Note||f.|||
|Fixed assets||||||||
|Investments|||10||24,556,590||26,258,907|
|Investment
property|||9||2,700,000||3,108,379|
||||||27,256,590||29,367,286|
|Current assets||||||||
|Debtors||||21,019||18,699||
|Cash at bank|and|in hand||51,243||57,306||
|||||72,262||76,005||
|Creditors: amounts||falling due within one||||||
|year|||12|(769,611)||(671,855)||
|Net current liabilities|||||(697,349)||(595,850)|
|Total assets|less|current liabilities|||26,559,241||28,771,436|
|Total net assets|||||26,559,241||28,771,436|
|Charity funds||||||||
|Unrestricted|funds||13||26,559,241||28,771,436|
|Total funds|||||26,559,241||28,771,436|
##
|||||||2023|2022|
|---|---|---|---|---|---|---|---|
|Cash flows from operating|||activities|||||
|Net cash||used
in operating|activities|||(804,794)|(806,290)|
|Cash flows from investing|||activities|||||
|Dividends,||interests
and rents from investments||||248,533|263,394|
|Proceeds||from sale of investments||||7,505,524|18,660,768|
|Purchase||of investments||||(6,955,326)|(15,040,938)|
|Purchase||of investment
property|||||(3,108,379)|
|Net cash||provided
by investing
activities||||798,731|774,845|
|Change|in cash and cash||equivalents|in|the year|(6,063)|(31,445)|
|Cash and||cash equivalents|at the beginning||ofthe year|57,306|88,751|
|Cash and||cash equivalents|at the end|of|the year|51,243|57,306|
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|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2023|2023|
|Rental|income|7,000|7,000|
|Quoted|investments|241,533|241,533|
|||248,533|248,533|
|||Unrestricted|Total|
|||funds|funds|
|||2022|2022|
|Rental|income|5,252|5,252|
|Quoted|investments|258,142|258,142|
|||263,394|263,394|
##
|Investment|management|fees|
|---|---|---|
|Investment|management|fees|
|Unrestricted|Total|
|---|---|
|funds|funds|
|2023|2023|
|116,978|116,978|
|Unrestricted|Total|
|---|---|
|funds|funds|
|2022|2022|
|135,471|135,471|
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|Grants to|Total|
|---|---|
|Institutions|funds|
|2023|2023|
|754,500|754,500|
||||||Grants to|Total|
|---|---|---|---|---|---|---|
||||||Institutions|funds|
||||||2022|2022|
|Grants to schools/beneficiaries|||||682,582|682,582|
|The Charity has made the following||material|grants to institutions|during|the year:||
||||||2023|2022|
|Name of institution|||||||
|Greig City Academy|||||250,000|210,000|
|Bishop Stopfords School||||||38,422|
|StAidians VC Primary School||||||15,000|
|St Michael-at-Bowes||||||15,000|
|St Marys C of E Primary|School||||481,500|238,000|
|StArms CE Primary School||||||28,363|
|St Michaels CE Primary|School|||||29,842|
|St Pauls and All Hallows|Primary School|||||44,280|
|StJames CE Primary School||||||15,675|
|Holy Trinity CE Primary School||||||25,000|
|YMCA North
London|||||5,000|5,000|
|North London Pastoral Assistants||Scheme|||18,000|18,000|
||||||754,500|682,582|
||||||754,500|682,582|
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|Promoting|education|
|---|---|
|Promoting|education|
|Unrestricted||
|---|---|
|funds|Total|
|2023|2023|
|783,252|783,252|
|Unrestricted||
|funds|Total|
|2022|2022|
|706,543|706,543|
##
|||Grant|||
|---|---|---|---|---|
|||funding
of|Support|Total|
|||activities|costs|funds|
|||2023|2023|2023|
|Promoting|education|754,500|28,752|783,252|
|||Grant|||
|||funding
of|Support|Total|
|||activities|costs|funds|
|||2022|2022|2022|
|Promoting|education|682,582|23,961|706,543|
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||||Promoting|Total|
|---|---|---|---|---|
||||education|funds|
||||2023|2023|
|Insurance|costs||321|321|
|Administrator||charges|16,528|16,528|
|Bank charges|||23|23|
|Accounting|8|audit costs|11,880|11,880|
||||28,752|28,752|
||||Promoting|Total|
||||education|funds|
||||2022|2022|
|Insurance|costs||324|324|
|Administrator||charges|11,716|11,716|
|Bank charges|||26|26|
|Accounting|8|audit costs|10,800|10,800|
|Misc costs|||1,095|1,095|
||||23,961|23,961|
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||||||2023|2022|
|---|---|---|---|---|---|---|
|Fees payable|to the Charity's|auditor|for the audit ofthe Charity's|annual|||
|accounts|||||6,900|6,000|
|Fees payable|to the Charity's|auditor|in respect of:||||
|All non-audit|services not included
above||||3,000|3,000|
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||Freehold|
|---|---|
||investment|
||property|
|Valuation||
|At 1 April 2022|3,108,379|
|Revaluations|(408,379)|
|At 31 March 2023|2,700,000|
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||Listed|Cash on||
|---|---|---|---|
||investments|Portfolio|Total|
|Cost or valuation||||
|At 1 April 2022|25,984,834|274,073|26,258,907|
|Additions|3,193,408|3,761,953|6,955,361|
|Disposals|(3,523,797)|(3,981,727)|(7,505,524)|
|Revaluations|(1,152,154)||(1,152,154)|
|At 31 March 2023|24,502,291|54,299|24,556,590|
|Net book value||||
|At 31 March 2023|24,502,291|54,299|24,556,590|
|At 31 March 2022|25,984,834|274,073|26,258,907|
##
||||2023|2022|
|---|---|---|---|---|
|Due within|one year||||
|Investment|income receivable||21,019|18,699|
||||21,019|18,699|
|Creditors:|Amounts|falling due within one year|||
||||2023f|2022|
|Grant creditors|||754,500|649,730|
|Accruals and deferred||income|15,111|22,125|
||||769,611|671,855|
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|Stateme|nt o|ffunds - curren|t year|||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
||||Balance at 1|||Gains/|31 March|
||||April 2022|Income|Expenditure|(Losses)
f|2023|
|Unrestricted||funds||||||
|General|Funds - all funds||28,771,436|248,533|(900,230)|(1,560,498)|26,559,241|
|Stateme|nt o|ffunds - prior y|ear|||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
||||Balance at|||Gains/|31 March|
||||1 April 2021|Income|Expenditure|(Losses)|2022|
|Unrestricted||funds||||||
|General|Funds - all funds||27,497,478|263,394|(842,014)|1,852,578|28,771,436|
|||||||Balance at|
|---|---|---|---|---|---|---|
|||Balance at 1|||Gains/|31 March|
|||April 2022|Income|Expenditure|(Losses)|2023|
|||f.|f.|f.|f.|f.|
|General|funds|28,771,436|248,533|(900,230)|(1,560,498)|26,559,241|
|||||||Balance at|
|---|---|---|---|---|---|---|
|||Balance at|||Gains/|31 March|
|||1April 2021|Income|Expenditure|(Losses)|2022|
|General|funds|27,497,478|263,394|(842,014)|1,852,578|28,771,436|
##
##
|Analysis of net assets between funds - current ye|ar||
|---|---|---|
||Unrestricted|Total|
||funds|funds|
||2023|2023|
|Fixed asset investments|24,556,590|24,556,590|
|Investment
property|2,700,000|2,700,000|
|Current assets|72,262|72,262|
|Creditors due within one year|(769,611)|(769,611)|
|Total|26,559,241|26,559,241|
|Analysis ofnet assets between funds - prior year|||
|---|---|---|
||Unrestricted|Total|
||funds|funds|
||2022|2022|
|Fixed asset investments|26,258,907|26,258,907|
|Investment
property|3,108,379|3,108,379|
|Current assets|76,005|76,005|
|Creditors due within one year|(671,855)|(671,855)|
|Total|28,771,436|28,771,436|
|16.|Reconciliation
of net movement|Reconciliation
of net movement|in funds to|net cash flow from operating|activities||
|---|---|---|---|---|---|---|
||||||2023|2022|
||Net expenditure
for|the year (as per Statement||of Financial Activities)|(651,697)|(578,620)|
||Adjustments
for:||||||
||Dividends,
interests|and rents from|investments||(248,533)|(263,394)|
||Decrease/(increase)|in debtors|||(2,320)|7,300|
||Increase
in creditors||||97,756|28,424|
||Net cash used in operating
activities||||(804,794)|(806,290)|
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