| Reports | |
|---|---|
| Referenceandadministrativeinformation | 3 |
| Trustees'report | 4 |
| Independentauditor'sreport | 9 |
| Financialstatements | |
| Statementoffinancialactivities | 12 |
| Balancesheet | 13 |
| Statementofcashflows | 14 |
| Principalaccountingpolicies | 15 |
| Notestothefinancialstatements | 17 |
| Trustees | CharlesBedford |
|---|---|
| DeanBowie | |
| MarkHynd | |
| ClivePavey | |
| SimonRich | |
| Principaloffice | ThePrecinct |
| PoseidonWay | |
| Warwick | |
| CV346BY | |
| Charityregistrationnumber | 1181336 |
| Companyregistrationnumber | 10801299 |
| Auditor | BuzzacottLLP |
| 130WoodStreet | |
| London | |
| EC2V6DL | |
| Bankers | HSBC |
| 21KingsMail | |
| KingsStreet | |
| Hammersmith | |
| London | |
| W6OQF |
| Unrestricted | funds | ||
|---|---|---|---|
| Yearto31 | Yearto31 | ||
| December | December | ||
| 2023 | 2022 | ||
| Notes | £ | £ | |
| Incomefrom: | |||
| Donationsandgrants | 1 | 34,000,000 | 33,500,000 |
| Interestreceived | 168,186 | 15,299 | |
| Totalincome | 34,168,186 | 33,515,299 | |
| Expenditureon: | |||
| Charitableactivities | |||
| .Grantspayable | 2 | 34,190,287 | 29,694,010 |
| .Supportandgovernancecosts | 21,042 | 54,665 | |
| Totalexpenditure | 2 | 34,211,329 | 29,748,675 |
| Net(expenditure)Incomebeforeinvestmentgainsand losses |
(53,143) | 3,766,624 | |
| Unrealisedgains(losses)oninvestments | 6 | 182,091 | (35,035) |
| Netincomefortheyearandnetmovementinfunds | 128,948 | 3,731,589 | |
| Reconciliationoffunds: | |||
| Fundbalancesbroughtforward | |||
| at1January2023 | 11,218,498 | 7,486,909 | |
| Fundbalancescarriedforward | |||
| at31December2023 | 11,347,446 | 11,218,498 |
| 2023 | 2022 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Fixedassets | |||
| Investments | 6 | 5,147,056 | 4,964,965 |
| Currentassets | |||
| Cashatbankandinhand | 6,211,952 | 6,292,157 | |
| Creditors:amountsfallingdue | |||
| withinoneyear | 7 | (11,562) | (38,624) |
| Netcurrentassets | 6,200,390 | 6,253,533 | |
| Totalassetslesscurrentliabilities | 11,347,446 | 11,218,498 | |
| Netassets | 11,347,446 | 11,218,498 | |
| Representedby: | |||
| Fundsandreserves | |||
| Unrestrictedgeneralfunds | 11,347,446 | 11,218,498 | |
| 11,347,446 | 11,218,498 |
| Yearto31 | Yearto31 | ||
|---|---|---|---|
| December | December | ||
| 2023 | 2022 | ||
| Notes | |||
| Cashflowfromoperatingactivities: | |||
| Netcash(usedin)providedbyoperatingactivities | A | (80,205) | 3,794,008 |
| Netcashflowfromfinancingactivities | |||
| Investmentpurchasesintheyear(note6) | - | (5,000,000) | |
| Changeincashandcashequivalentsintheyear | (80,205) | (1,205,992) | |
| Cashandcashequivalentsat1January2023 | B | 6,292,157 |
7,498,149 |
| Cashandcashequivalentsat31December2023 | B | 6,211,952 |
6,292,157 |
| Yearto31 | Yearto31 | |
|---|---|---|
| December | December | |
| 2023 | 2022 | |
| Netmovementinfunds(asperthestatementoffinancialactivities) | 128,948 | 3,731,589 |
| Adjustmentsfor: | ||
| Unrealised(gains)lossesoninvestments | (182,091) | 35,035 |
| (Decrease)increaseincreditors | (27,062) | 27,384 |
| Netcash(usedin)providedbyoperatingactivities | (80,205) | 3,794,008 |
| Cashandcashequivalents | ||
|---|---|---|
| 2023 | 2022 | |
£ |
£ |
|
| Cashatbankandinhand | 6,211,952 | 6,292,157 |
| Total | 6,211,952 | 6,292,157 |
| Incomefromdonationsandgrants | ||
|---|---|---|
| Yearto31 | Yearto31 | |
| December | December | |
| 2023 | 2022 | |
| £ | £ | |
| DonationsreceivedfromUBT(EU)Limited | 16,000,000 | 1,200,000 |
| GrantsreceivedfromTheGraceTrust | 18,000,000 | 32,300,000 |
| 34,000,000 | 33,500,000 |
| Charitableexpenditure | ||
|---|---|---|
| Yearto31 | Yearto31 | |
| December | December | |
| 2023 | 2022 | |
| £ | £ | |
| Grantspayable(seebelow) | 34,190,287 | 29,694,010 |
| Bankcharges | 923 | 988 |
| Administrativecharges | 10,761 | 10,592 |
| Governance | ||
| .Auditandaccountancy | 11,100 | 10,719 |
| .Legalfees | (1,742) | 32,366 |
| 34,211,329 | 29,748,675 |
| Duringtheyear,theFundmadethefollowinggrants: | ||
|---|---|---|
| 2023 | 2022 | |
| Recipient | £ | £ |
| OneSchoolGlobalUK | ||
| FeereliefgrantsforpupilsofOneSchoolGlobalUK | 2,184,800 | 1,886,822 |
| OperationalGrants | 30,344,760 | 27,807,188 |
| OperationalgrantstoNAFEU | 1,660,727 | - |
| 34,190,287 | 29,694,010 |
| Netmovementinfunds Thisisstatedaftercharging: |
||
|---|---|---|
| Yearto31 | Yearto31 | |
| December | December | |
| 2023 | 2022 | |
£ |
£ |
|
| Amountspayabletotheauditorinrespectof: | ||
| .Externalauditservices | 11,100 | 10,500 |
| 11,100 | 10,500 |
| Fixedassetinvestments | ||
|---|---|---|
| 2023 | 2022 | |
£ |
£ |
|
| Marketvalueoflistedinvestmentsat1January2023 | 4,964,965 | |
| Additionsinyear | 5,000,000 | |
| Unrealisedinvestmentgains(losses) | 182,091 | (35,035) |
| Marketvalueoflistedinvestmentsat31December2023 | 5,147,056 | 4,964,965 |
| 2023 | 2022 | |
|---|---|---|
£ |
£ |
|
| Accruals | 11,562 | 38,624 |
| 11,562 | 38,624 |