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|Reports||
|---|---|
|Referenceandadministrativeinformation|3|
|Trustees'report|4|
|Independentauditor'sreport|9|
|Financialstatements||
|Statementoffinancialactivities|12|
|Balancesheet|13|
|Statementofcashflows|14|
|Principalaccountingpolicies|15|
|Notestothefinancialstatements|17|





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|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|





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|||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<br>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|





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|||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|





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|||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|<br>6,292,157|7,498,149|
|Cashandcashequivalentsat31December2023|B|<br>6,211,952|6,292,157|



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||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|



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|Cashandcashequivalents|||
|---|---|---|
||2023|2022|
||`£`|`£`|
|Cashatbankandinhand|6,211,952|6,292,157|
|Total|6,211,952|6,292,157|





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|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|



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|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|





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|Netmovementinfunds<br>Thisisstatedaftercharging:|||
|---|---|---|
||Yearto31|Yearto31|
||December|December|
||2023|2022|
||`£`|`£`|
|Amountspayabletotheauditorinrespectof:|||
|.Externalauditservices|11,100|10,500|
||11,100|10,500|



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|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|





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