2023-08-31-accounts

CONTENTS			Page
Report ofthe Trustees			1 —5
Report ofthe independent		auditors	6 —8
Statement offinancial	activities
Balance sheet			10
Statement ofcash flows
Notes to the financial	statements		12 —18

							For the year	For the 13
							ended 31	months
							August	ended 31
							2023	August
				Unrestricted	Restricted	endowment		2022
				Funds	Fund	Fund	Total	Total
			Note
INCOME AND
ENDOWMENTS
FROM:
Investments Donations				389,927 6,369	18,573		408,500 6,369	331,684 22,651
Total income				396,296	18,573		414,869	354,335
EXPENDITURE	ON:
Raising funds: Investment Manager'		s		24,938			24,938	34,676
fees
Charitable activities				75,225			75,225	77,423
Total expenditure				100,163			100,163	112,099
Net income before				296,133	18,573		314,706	242,236
(losses)/ gains on
investments
Net (losses)/gains		on		(786,987)			(786,987)	477,184
investments
Net movement in funds				(490,854)	18,573		(472,281)	719,420
Balance brought	fonvard			12,763,535	4,620	318,080	13,086,235	12,366,815
Balance carried fonvard at 31August 2023				12,272,681	23,193	318,080	12,613,954	13,086,235

				2023		2022
			Note
FIXEDASSETS
Investments				5,173,882		5,741,203
Investment propeity				1,994,807		2,083,200
					7,168,689		7,824,403
CURRENT ASSETS
Cash and bank balances Debtors				2,917,399 2,353,366		3,290 622 598,810
				5,270,765		3,889,432
CREDITORS: Amounts due within one year		falling	10	(5,500)		(7,600)
NET CURRENT ASSETS					5,265,265		3,881,832
DEBTORS: Amounts in more than one year	falling due				180,000		1,380,000
NET ASSETS					12,613,954		13,086,235
Representing:
Unrestricted funds:
General Fund					12,272,681		12,763,535
Restricted funds: Godolphin &Latymer	School				23,193		4,620
bursary fund
Endowment fund: Permanent endowment					318,080		318,080
TOTAL FUNDS					12,613,954		13,086,235

							For the year	For the 13
							ended 31	months ended
							August 2023	31August
								2022
					Note
	Net cash outflow from operations:
	Net cash used in operations				A		(200,450)	(61,089)
	Cash flows from investing activities: Income from investments Purchase of investments Sale ofinvestments Repayment ofloan Issue new loan						408,500 (797,794) 666,521 500,000 (950,000)	331,684 (216,803) 901,470 500,000
	Net cash (used in)/provided by investing		activities				(172,773)	1,516,351
	Change in cash and cash equivalents	in the reporting		period	B		(373,223)	1,455,262
	Cash and cash equivalents at beginning	of	period				3,290,622	1,835,360
	Cash transferred from predecessor entity
	Cash and cash equivalents at end ofperiod				B		2,917,399	3,290,622
A.	RECONCILIATION OF NET MOVEMENT IN FUNDS TO						2023	2022
	NET CASH OUTFLOW FROM OPERATIONS
	Net movement in funds before transfer Increase in debtors Increase creditors Interest and dividends Gains on investments						(472,281) (104,556) (2,100) (408,500) 786,987	719,420 23,580 4,779 (331,684) (477,184)
	Net cash outflow from operations						(200,450)	(61,089)
B.	ANALYSIS OF CHANGES IN CASH AND CASH EQUIVALENTS			At 1 September 2022	Cashflows		Other Changes	At 31August 2023
	Cash and cash equivalents Deposit accounts			118,991 3 171631	35,387 (408,610)			154,378 2,763,021
				3,290,622	(373,223)			2,917,399

2.	INCOME FROM INVESTMENTS	INCOME FROM INVESTMENTS		2023	2022
	Investment income Loan interest Rental income			150,788 214,355 43,357	151,966 133,397 46,321
				408,500	331,684
3.	DONATIONS			2023	2022
	Gross covenants Other donations			3,240 3,129	3,510 19,141
				6,369	22,651
4.	CHARITABLE ACTIVITIES			2023	2022
	Grants to the Godolphin and Latymer School Support costs ofgrant making (note 5) Finance costs			69,255 5,680 290	69,365 8,058
				75,225	77,423
5.	ANALYSIS OF SUPPORT	COSTS		2023	2022
	Management charge Governance costs —Auditor's Legal and professional fees	remuneration	for audit fees	1,000 4,680	1,000 4,200 2,858
				5,680	8,058

6.	INVESTMENTS	2023	2022
	Balance at 1 September Additions	5,741,203 797,794	6,166,886 216,803
	Disposals Unreal ised investment (loss)	(580,835) (784,280)	(418,201) (224,285)
	Balance at 31 August 2023	5,173,882	5,741,203
	The balance at 31 August 2023 was	made up ofthe following;
	Fixed interest Government Stocks UK Equities Europe Equities Unit Trusts Global Other Equities Cash	273,278 1,518,684 432,430 2,284,991 546,041 118,458	284,279 1,506,438 364,378 653,615 2,243,862 688,631
		5,173,882	5,741,203
	Historical cost	3,363,564	3,146,605
	All investments are quoted on a recognised UK Stock Exchange.
7.	INVESTMENT PROPERTY	2023	2022
	At 1 September 2022 Revaluation	2,083,200 (88,393)	1,865,000 218,200
	At 31 August 2023	1,994,807	2,083,200
	Historical cost	1,933,597	1,933,597
	The investment property was revalued as at 31 August 2023 using the Nationwide house price		indices.
8.	DEBTORS: amounts falling due one year	in less than 2023	2022
	Income tax recoverable Prepayments and accrued income Amounts due from the Godolphin Amounts due from the Godolphin Loan to the Godolphin &Latymer Loan to the Godolphin &Latymer	&Latymer School &Latymer Foundation School Foundation 14,003 113,335 76,028 500,000 1,650,000	46 10,187 49,011 39,566 500,000
		2,353,366	598,810

DEBTORS: amounts	falling due after more than one year	2023	2022
Loan to the Godolphin Loan to the Godolphin	Ec Latymer School &Latymer School Foundation	180,000	680,000 700,000
		180,000	1,380,000

CREDITO	RS: amounts	falling due within	one year
					2023	2022
Accruals					5,500	7,600
FUNDS ANALYSIS
		At 31August 2022	Income	Expenditure	Investment loss	At 31August 2023
Unrestricted	funds	12,763,535	396,296	(100,163)	(786,987)	12,272,681
Restricted funds Endowment funds		4,620 318,080	18,573			23,193 318,080
		13,086,235	414,869	(100,163)	(786,987)	12,613,954
Comparative fund movements in year
		At 31July 2021	Income	Expenditure	Investment gains	At 31August 2022
Unrestricted	funds	12,045,680	352,770	(112,100)	477,113	12,763,535
Restricted Endowment	funds funds	3,055 318,080	1,565			4,620 318,080
		12,366,815	354,335	(112,100)	477,113	13,086,235

			Unrestricted	Restricted	Endowment
			Fund	Fund	Fund	Total
			2023	2023	2023	2023
Fixed asset investment			7,168,689			7,168,689
Non current assets			180,000			180,000
Current	assets		4,929,492	23,193	318,080	5,270,765
Current	liabilities		(5,500)			(5,500)
			12,272,681	23,193	318,080	12,613,954
Comparative		split ofnet	assets between funds
			Unrestricted	Restricted	Endowment
			Fund	Fund	Fund	Total
			2022	2022	2022	2022
Fixed asset investment			7,824,403			7,824,403
Non current assets			1,380,000			1,380,000
Current	assets		3,566,732	4,620	318,080	3,889,432
Current	liabilities		(7,600)			(7,600)
			12,763,535	4,620	318,080	13,086,235

15. COMPAR	ATIVE	STATEMEN	T OF FINAN	CIAL ACTIVITI	ES
							For the 13
							months ended
				Unrestricted	Restricted	Endowment	31August
							2022
				Funds	Fund	Fund	Total
			Note
INCOME AND ENDOWMENTS
FROM: investments Donations				330,119 22,651	1,565		331,684 22,651
Total income				352,770	1,565		354,335
EXPENDITURE	ON:
Raising funds: Investment Manager's		fees		34,676			34,676
Charitable activities				77,423			77,423
Total expenditure				112,099			112,099
Net income before gains on				240,671	1,565		242,236
investments Net gains on investments				477,184			477,184
Net movement in funds				717,855	1,565		719,420
Balance brought	forward			12,045,680	3,055	318,080	12,366,815
Balance carried	forward at 31			12,763,535	4,620	318,080	13,086,235
August 2022