| Page | ||||||
|---|---|---|---|---|---|---|
| Reference and administrative | details ofthe Charitable | Company, | its Trustees and | |||
| advisers | ||||||
| Trustees' report | 2-6 | |||||
| Independent examiner's |
report | |||||
| Statement offinancial | activities | |||||
| Balance sheet | ||||||
| Statement ofcash flows | 10 | |||||
| Notes to the financial | statements | 11-21 |
| REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, | REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, | REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, | REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, | REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, | REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, | REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, | REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, | ITSTRUSTEES AND |
|---|---|---|---|---|---|---|---|---|
| ADVISERS | ||||||||
| FOR THE YEAR ENDED 31JULY 2022 | ||||||||
| Trustees | Lors De Felice, Co-opted Trustee, Chair | |||||||
| Mark Miller, Co-opted Trustee | ||||||||
| Barbara Burman, Co-opted Trustee |
||||||||
| Yvonne Sonsino, Co-opted Trustee (resigned 26 October 2020) | ||||||||
| Adrian Capps, Co-opted | Trustee, Vice | Chair | ||||||
| John Parmiter, Nominee |
of the | University ofthe Aria |
London | |||||
| Alison Lowton, Nominee | ofthe | Mary Ward Settlement | ||||||
| Alexi Marmot, Nominee |
of the Working | Mens's College (appointed 3September | ||||||
| 2020) | ||||||||
| Darius Farrokh Pocha, Co-opted Trustee (appointed | 27 September 2021) | |||||||
| Company | registered | |||||||
| number | 10388335 | |||||||
| Charity registered number |
1169925 | |||||||
| Registered | office | 85Great Portland Street | ||||||
| First Floor | ||||||||
| London | ||||||||
| Wiw TLT | ||||||||
| Company | secretary | Catherine Armskong |
||||||
| Independent | Examiner | John Howard FCA |
||||||
| Azets Audit Services Limited | ||||||||
| 2"v Floor, Regis House | ||||||||
| 45 King William Street | ||||||||
| London. EC4R 9AN | ||||||||
| Bankers | CAF Bank Ltd | |||||||
| PO Box289 | ||||||||
| West Mailing | ||||||||
| Kent | ||||||||
| ME'i9 4TA | ||||||||
| Solicitors | Stone King LLP | |||||||
| Boundary House | ||||||||
| 91 Charlerhouse Street |
||||||||
| London | ||||||||
| EC1M 6HR | ||||||||
| Investment | Managers | CCLA Investment Management |
Ltd | |||||
| Senator House | ||||||||
| 85Queen Victoria Street | ||||||||
| London | ||||||||
| EC4V 4ET |
| Unrestricted | Total | Toia/ | ||||
|---|---|---|---|---|---|---|
| funds | funds | funds | ||||
| 2022 | 2022 | 2021 | ||||
| Note | E | E | 6 | |||
| Income from: | ||||||
| Donations: | ||||||
| Queens prize | 500 | 500 | 1,000 | |||
| Government Grants |
700 | 700 | ||||
| Investments | 95,774 | 95,774 | 95,111 | |||
| Total income | 96,974 | 96,974 | 96,111 | |||
| Expenditure on: |
||||||
| Charitable activities |
4 | 105,298 | 105,298 | 10'/,571 | ||
| Total expenditure | 105,298 | 105,298 | 101,571 | |||
| Net (expenditure) | before net gains on | |||||
| investments | (8,324) | (8,324) | (5,460/ | |||
| Net (loss)/gains on |
investments | 10 | (40,173) | (40,173) | 354,696 | |
| Net movement | in funds before other recognised | |||||
| gains | (48,497) | (48,497) | 349,438 | |||
| Other recognised | gains: | |||||
| Gains on revaluation | offixed assets | 1,333,721 | ||||
| Net movement in |
funds | (48,497) | (48,497) | 1,663,159 | ||
| Reconciliation of |
funds: | |||||
| Total funds brought | forward | 12,552,000 | 12,562,00D | 10,878,841 | ||
| Net movement in funds |
(48,497) | (48,497) | 1,663,159 | |||
| Total funds carried | forward | 12,513,503 | 12,513,503 | 12,562,000 |
| Unrestricted | Total | Tote/ | |||
|---|---|---|---|---|---|
| funds | funds | funds | |||
| 2022 | 2022 | 2021 | |||
| E | s | f | |||
| Property rental income |
21,411 | 21,411 | 21,411 | ||
| Listed investments | - dividend | income | 74,219 | 74,219 | 73,687 |
| Bank interest | 144 | 144 | 13 | ||
| Total 2022 | 95,774 | 95774 | 06,111 | ||
| Total 2021 | 95,111 | 95,111 |
| Grant | ||||
|---|---|---|---|---|
| funding of | Support | Total | ||
| activities | costs | |||
| 2022 | 2022 | 2022 | ||
| E | E | |||
| Charitable | activities | 62,478 | 42,620 | 105,298 |
| Grant | ||||
| funding of | Support | Total | ||
| acti vitiss | costs | |||
| 2021f | 2021 6 |
2021 f |
||
| Charitable | activities | 66,054 | 32,617 | 101,571 |
| Analysis | ofsupport costs |
| Activities | Total | Total | ||
|---|---|---|---|---|
| 2022 | 2022 | 2021 | ||
| E | K | |||
| Staff costs | 23,171 | 23,171 | 23,150 | |
| Sundry expenditure | 171 | 171 | 2,458 | |
| Governance | costs | 5,864 | 5,864 | 7,000 |
| Professional | fees | 13,614 | 13,614 | |
| 42,820 | 42,820 | 32,617 |
| 5. | Governance costs | ||||||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| 2 | |||||||
| Independent Examiner's |
remuneration: | ||||||
| - Examination of the |
financial statements | 1,850 | 6,000 | ||||
| - Financial statements | preparation | 2,500 | |||||
| Under accrual ofprior year accounts preparation | fees | 1,000 | |||||
| 4,350 | 7,000 | ||||||
| 6. | Grants payable | ||||||
| 2022 | 2021 | ||||||
| 5 | |||||||
| Grants to institutions | |||||||
| Working Men's College |
4,900 | 4,000 | |||||
| Mary Ward Centre | 11,000 | 14,000 | |||||
| Morley College | 10,700 | 11,000 | |||||
| Birkbeck College | 8,800 | 8,000 | |||||
| City &Guilds of London | Art School | 7,000 | 6,000 | ||||
| University ofthe Arts |
London | 20,600 | 21,000 | ||||
| AAD School London | Metropolitan | University | 7,000 | 5,000 | |||
| Grants authorised in |
previous years but not taken | up | (9,022) | (2,046) | |||
| 60,978 | 66,054 | ||||||
| Grants to individuals | |||||||
| Queen's Scholarship |
1,000 | 1,500 | |||||
| William Atkinson Scholarship |
500 | 500 | |||||
| 1,500 | 2,000 | ||||||
| 62,478 | 68,054 |
| 2022 f |
2021 f |
||||
|---|---|---|---|---|---|
| Wages and | salaries | 20,650 | 20,799 | ||
| Social security costs | 1,691 | 1,712 | |||
| Contribution | to defined | contribution | pension schemes | 630 | 648 |
| 23,171 | 23,f50 |
| 2022 | 2021 |
|---|---|
| No. | No. |
| Listed | |
|---|---|
| investments | |
| E | |
| Cost or valuation | |
| At 1 August 2021 | 2,614,659 |
| Disposals | |
| Revaluations | (40,173) |
| At 31 July 2022 | 2,574,486 |
| Net book value | |
| At 31July 2022 | 2,574,486 |
| At 31Ju/y 2021 | 2,614,659 |
| 2022 | 2021 | ||
|---|---|---|---|
| E | |||
| Due within | one year | ||
| Prepayments | and accrued income | 18,836 | 18,619 |
| 18,836 | 18,619 |
| 2022 | 2021 | |
|---|---|---|
| E | E | |
| Other taxation and social security | 327 | 535 |
| Other creditors | 353 | 5408 |
| Accruals | 4,350 | 6,000 |
| Grant commitments | 140,510 | 144,860 |
| 145,540 | 152,803 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| E | ||||||
| Net inoome | for the year (as | per Statement | of Financial | Activities) | (48,497) | 349,438 |
| Adjustments | for: | |||||
| Net loss/ (gains) on investments | 40 173 | (354898) | ||||
| Investment | income | (95,774) | (95,111) | |||
| (Increase) in debtors | (217) | (201) | ||||
| (Decrease) | in creditors | (7,263) | (22,590) | |||
| Net cash used in operating | activities | ~111578) | ~f23462 |
| 2022 | 2021 | ||
|---|---|---|---|
| Amounts | receivable | ||
| Within 1 |
year | 21,411 | |
| Between | 1 and 5years | ||
| 21,411 |
| 2022f | 2021f | ||||||
|---|---|---|---|---|---|---|---|
| Alison | Lowton | - nominated | by the Mary Ward | Setllement | 11,000 | 14,000 | |
| Alexi | Marmot | - | nominated | by the Working Men's College | 4,900 | 4,000 | |
| John | Parmiter | - nominated | by the University | ofArts London | 20,600 | 21,000 | |
| 30,500 | 39,000 |