2022-03-31-accounts

				Notes	Unrestricted	Restricted	Endowment	2022	2021
					Funds	Funds	Funds
								f	8
Income and endowments		from:
Donations snd legacies				2	225,110	25,000		250,110	220,294
Investment income				3	942,700	9,684		952,384	782,545
Total					I 167810	34684		1202 494	1002,839
Expenditure on:
Raising fuada
Investment &property management			costs		179,800		34,648	214,448	254,846
Charitable activities
School beneficiaries					820,769	34,684	167,864	1,023,316	1,013,620
Supporting young people in		Southwark			140,199			140,199	102,006
Total					I140767	34684	202 512	I 77963	1370,472
Net (expenditure)/income		before
gains and losses on investments					27,043		( 202,512)	( 175,469)	( 367,633)
Nei gains on investment	assets			12&13	122,902		286,738	409,640	1,731,459
Net income for the year
being net movement	on	funds			149,945		84,226	234,171	1363,826
Balances at I' April 2021					2,417,620	100,000	24,654,864	27,172,484	25,808,658
Balances at 31u March	20ZZ				2 567 565	100000	24739090	Z7,406,655	27172484

	Notes	2022	2021
Fixed assets
Tangible fixed assets	10	5,292,467	5,460,331
Works ofart	11	100,000	100,000
Investment properties	12	14,100,000	14,000,000
Financial investments	13	8,261,960	7,910,454
Total fixed assets		27,754,427	27 478 785
Current assets
Debtors		206,497	268,783
Short term investments		493,448	453,884
Cash at bank and in hand		92,179	616,040
Total current assets		792,124	1438,707
Liabilities
Creditors falling due within one year	15	( 1,139,896)	( 1,637,008)
Net current liabilities		(347,772)	(298801)
Total assets less current liabilites		27,406,655	27,172,484
Net assets		27,406,655	27 172,484
Funds	17tk 18
Endowment funds		24,739,090	24,654,864
Restricted funds		100,000	100,000
Unrestricted funds		2,567,565	2,417,620
		27,406,655	27 172,484

			2022	2022	2021
Net income per SOFA				234,171		1,363,826
Adjustments for:
Depreciation			167,864		167,864
Interest and dividends	received		( 176,777)		( 136,128)
(Gain) on investment	assets		( 409,640)		( 1,731,459)
(Gain) on investment	assets held	on behalf ofschools	( 39,564)		( 90,557)
Uncrease) in debtors (Decrease)9increase in	creditors		62,286 ~499. 2		( 168,397) 517,918
				( 892,943)		( 1,440,759)
Net cash from finance activities				( 658,772)		( 760O3)
Cash flows from investing activities
Interest and dividends	received		176,777		136,128
Purchase offinancial investments Purchase ofinvestment property Disposals offinancial investments			( 3,049,698) ( 92,777) 3,170,954		( 2,953,563) ( 415,768) 2,197,513
Disposai ofinvestment	property				, 428 952
				205456		103,262
Change ia cash and cash equivalents		in the
reporting period				( 453,516)		26329
Cash and cash equivalents at	the beginning ofthe
reporting period				659,064		632,735
Cash and cash equivalents at the ead		ofthe
reporting period				205,548		059064
Analysis ofcash and cash equivalents
Cash in Hand				92,179		616,040
Beafing account deposit				113,369		43,024
Total cash and cash equivalents				20 50		659064

									2022	2021
	The Dulwich Estate - annual				distribution				225,110	202,394
	Donations		to StSaviour's	School		Headteacher's		Funds	25,000	17,900
									250,110	220,294
3	Investment		income
									2022	2021
	Dividends	snd interest on		financial		investments			167,093	126,550
	Property income								775,607	646,417
	St Saviour's		School Headteacher's			Fund			4,740	4,210
	St Otave's Grammar School Headmaster's						Fund			5,368
									952,384	78.5 5
4	Investment		&property	management			costs
									2022	2021
	Investment		management	fee					51,429	41,163
	Duect property management				costs				163,019	213,683
									214448	254 846

			Period Ended	3In March 2022
5 Grants Payable
				2022	2021
				8 g	8
The amount payable in the	year compnses
St Oiave's tk St Saviour's Gtammar School				320,184	320,184
St Saviour's &St Olave's School Total Schools				343,830~664014	343,822~664006
Southwsrk Cathedml's Choirs				12,291	12,050
Foundation Fund Grantst
Grants to tndividuals (2022:		30,202!:23 Individuals)		32,959	24,796
Grants to Organisations
acetUK				2,000	1,500
Afm-Brazilian Arts dcCu)turn)			Exchange	1,000	0
Angel Oak Academy				2,000	0
Bede House Association				6,000	0
Bethwin Road Playground				3,000	0
Bomugh Music School				0	1,950
Bridge the Gap Studios				'2,000	0
Butler's Wharf Riverside Trust				1,000	0
Camberwell After School Pmject				3,000	3,000
Crsmpton Primary School					2,000
Colombo Street Community		dt	SparS Centre	6,000	0
Dream, Believe, Achieve				0	2,290
Downside Fisher Youth Club				3,000	0
Fairbeats Music				2,000	0
Friars Primary Scbool				2,000	0
Friends ofDog Kennel Hill	Primary School			1,530	0
Friends ofGageywall Nature		Ressve		0	3,200
Ignite Hubs				3,000	3,000
Let Me Know				1,000	0
Listening Books				1,500	0
Landon South S~hool Teaching			Alliance	3,000	0
LyndhustPrimsry School				2,000	0
National Theatre				0	1,500
National Youth Theaue ofGreat Britain				0	3,000
Pembmke House				1,000	0
Phoenix Explorer Scout Gmup				3,000	0
Phoenix Place				0	11,530
Purple Ladies				0	1,500
Resources for Autism				0	1,500
Siblings Together				0	3,000
Southwark Playhouse				2,000	0
Southwark Tigers Rugby Club				0	2,000
StMary Magdalene Pnmmy	School			3.000	0
StSaviour's tk St Oiave's School				7,000	8.000
Step Out Mentoring				2,910	0
Team up for Social Mobility				1,500	0
Waterloo Coomumty Theatre				2,770	0
Westminster House Youth Group				3,000	3,000
Is Southwark Scouts 16 Bermondsey Scouts				1,000 ~2345	0 0
				74,555	51,970
Grants under 61,000(2022:5,2021'.4, organ isations)				3,730	3,525
Cancelled Grants				(753)	(7,476)
Total supporting yeung		people in Southwark		122,782

9 Analysis	ofstaff	costs
			2022	2021
Salaries			101!,122	104,100
Employer's	National	Insurance	8,480	7,941
Pension contributions			10,562	10,410
Life assurance			1,107	964
			~1?8271	~I?3415

		Freehold	Furniture	Computer	Total
		Land and buildings	di Fittings	Hardware
		(used by Schools)
Cost
Accumulated	depreciadon
At in April 2021		2,932,894	6,092	7,498	2,946,484
Charge foryear		167,864			167,864
At 31"March	2022
Net book values
At 1o April 2021		5,460,331			5,460,331
At 31oMarch	2022	5,292,467			~5292 467

	works ofart during the period. The works ofart, wh	ich are not regarded as heritage
12	investment Properties
		Total
	Valuation
	Ai le Apti1 2021	14,000,000
	Additions	100,000
	At31 March 2022	~14 100000
	Historleal Cost
At 1"April 2021		7,974,258
Additions		92,777
Historical Cost at31 March 2022		8067035

						2022	2021
(3	6016 t t Market value ofinvestments			at I"April	2021	7,867,430	5,603,129
	Additions					3,049,698	2,953,563
	Disposals proceeds					( 3,170,954)	( 2,197,513)
	Net realised snd unrealised		investment		gains	402,417	1,508,251
	Market value ofinvestments			at 31' March 2022		8,148,591	7,867,430
	Historical cost at 31	March 2022				6,651,137	5,586,641
	Investment cash
	Opening investment	cash				43,024	237,132
	Cash withdrawn						( 500,000)
	Cash added						1,100,000
	Disposal proceeds					3,170,954	2,197,513
	Cost ofadditions					( 3,049,698)	( 2,953,563)
	Investment management fees					( 50,911)	( 38,058)
	Investment cash at 31"March			2022		113369	43,024
						2022	2021
(b)	Financial investments com		rise
	British Government	and other
	frxed interest stocks					381,093	377,395
	Equities (UK and overseas)					7,767,498	7,490,035
						8,148,591	7,867,430
	Deposits and cash awaiting		investment			113,369	43,024
						6,261,960	7,910434
14	Debtors
						2022	2021
	Prepayments					48,781	41,781
	Rents receivable and	other debtors				157,716	227,002
						206,497	268,783

								2022	2021
St Saviour's School								725,203	615,435
StOlave's Grammar School								303.582	692481
Trade creditors								15,562	28,493
VAT								47,641	260,137
Accruals								27,869	25,536
Other creditors								20,039	14,826
								1,139,896	1,637,008
Recoociliatioa ofgrants	payable:
								2022f	2021
Fund grant creditors at 1u	April	2021						14,826	28531
School grant creditors at la April 2021								1,308,016	1,471,875
Grants payable for the period								786,796	774,637
Grants cancelled or recovered								( 753)	( 4,315)
Grants paid during the period							( 1,060,061)		( 947,886)
							1,048,824		1,322,842
Foundation Fund grant creditors		at	31u March	2022				20,039	14,826
School grant creditors at 31u March			2022					1.028,785	1,308,016
								1,048,824	1,322,842
6 Operating lease commitments
At 31u March 2022 the Foundation			had total	commitments	under	non-cancellable	operating	leases as follows:
								Land &	Buildings
								2022	2021
Amounts due:
Within one year								20,036	19,642
Between 1-5years								48,422	67,112
								8. I	B6.
Payments off18,270 were	made in		the year.
Analysis ofnet assets between		funds
				Unrestricted		Restricted	Expendable		Permanent	Total
				Funds		Funds	Endowment		Eadowment
				8				8	8
Fund balances at 31u March 2022
are represented by:
Tangible fixed assets							5292,467			5,292,467
Works ofatt						100,000				100,000
Investment properties				300,000				974,400	12,825,600	14,100,000
Financial investments				2,615,337					5,646,623	8,261,960
Current assets				320,092		472,032				792,124
Creditors falling due within	one year			(667,864)		(472,032)				(1,139,896)
				2,567,565		100,000	6,266,867		18,472,223	27,406,655

Movement	offunds 2021-22
		Broaght	Iacome	Expenditure	Transfers	Carried
		Forward			and Gains	Forward
Endowment	funds	24,654,864		(202,512)	286,738	24,739,090
Restricted	funds	100,000	34,684	(34,684)		100,000
Unrestricted	funds	2,417,620	1,167,810	(1,140,767)	122,902	2,567,565
Total		27,172,484	1,202,494	(1377„t)63)	409,640	27,406,655
Movement	offunds 2020-21
		Brought	Income	Expenditure	Transfers	Carried
		Forward			and Losses	Forward
Endowment	funds	23,652,221		(194,149)	1,196,792	24,654,864
Restricted funds		100,000	27,478	(27,478)		100,000
Ummtricted	funds	2,056,437	975,361	(1,148,845)	534,667	2,417,620
Total		25,808,658	1,002,839	(1370,472)	1,731,459	27,172,484

			Fund	Capital	Income	Expenditure	Capital Gain	Fund
			2021	Introduced				2022
George Dyson Prize Fund Paul Slade Prize Fund Gridley Prize Fund			1,376 !,387 21,884		28 28 336	(30) (31) (100)	(3) (2) {40)	1,370 1,381 22,080
Sanders Prize Fund			4,668		93	(100)	( 11)	4,649
Green Prize Fund			13,189		219		( 26)	13,382
Davis Bequest Owen Gift			8,615 3,257		128 65	(70)	( 16) (9)	8,727 3,243
Felkin Bequest			1,956		40	(43)	(5)	1,948
Headmaster's Fund			210,966		3,434	(2,587)	( 406)	211,407
WG Rushbraoke Trust			18,749		278		( 34)	18,993
Alice Talbot Prize			1,380		29		(3)	1,406
Ashley Prize Fund			930		18	(20)	(2)	926
Phyllis Packer Prize Fund			4,222		86	(93)	( 10)	4,204
1Nixon Memorial	Fund		5,696		165	(161)	643	6,342
Marguerite Wailer	Prize Fund		110,790		2,883		8,352	122,026
St Saviour's Undergraduate		Fund	62,967	25,000	1,857	(2,400)	6,135	93,559
			472,032	25,000

22 Statement ofFinan	cia	l Activities for	the period to 31"M	arch 2021
			Unrestricted	Restricted	Endowment	Total
			Funds	Funds	Funds
Income and endowments		from:
Donations and legacies			202,394	17,900		220,294
Investments			772,967	9,578		782,545
Total			975 61	51167		1002,839
Expenditure on:
Raising funds
Investment k property			228,561		26,285	254,846
management costs
Charitable activities
School beneficiaries			818,278	27,478	167,864	1,013,620
Supporting young people in		Southwark	102,006			102,006
Total			1,148,845	27,478	194,149	I/70 472
Net (expenditure) before
gains on investments			(173,484)		( 194,149)	(367,633)
Net gains on investment	assets		534,667		1,196,792	1,731,459
Net income for the year
being net movement on	funds		361,183		1,002,643	1363,826
Balances at 1 April 2020			2,056,437	100,000	23,652,221	25,808,658
Balances at 31' March 2021			2,417,620	100,000	24,654,864	27,172,484