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2023-12-31-accounts
| 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 |