Cnarity nurnber. 1197289 KING EDWARD VI SHELDON HEATH ENDOWMENT FUND UNAUDITED TRUSTEE'S REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
KlI%G EDWARD VI SHELDON V.EATH ENDOWIAENT FUND CONTENTS Page R•f•r•nc• and Admlnlstratlve Detalls of the Fund. Its Tnwt••s •nd Advls•rs TThst••'s R•port In(kpondont Examlnefs Report Balance 8he8t 10 Notes to the Flnanclal SL*m
KING EDVIIARD VI SHELDON HE4TH ENDOWAIENT FUND REFERENCE AND ADMINISTIiATfdE DETAILS OF THÉ FUND. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2022 Trustoe Klng Eitrward Vl Shekkn Heath Charflable Fur4J (the Company) {appointed 30 September 2020) Charlty r•gl¥tsr•d number 1197289 PrIne11 OPeTatlng offlce (not yet r•gl3tgr8d) Clo lQrKJ Ethvard Vl Sh8klon Heath Charbtable FUNI fjng Edward Vl sheld Healh Academy Shddon Hoath Road Sheldon. 8irmingham 826 2RZ A¢¢ounlants Crw U.IQ LLP Bla¢k Cwnty House Rwnds Green Road Oldbury West MKllands 869 2DG Investment Advlsors EFG Haryis Ajlday 33 Gr8at Charles Street Birningham 83 3JN Sollcltors stone lfjrwJ LLP 16 St John's Lane EC1M 48S Page 1
ING FDITVARD VI QAELDON HEAI H ENDoW,ENT FUND TRUSTEE'S REPORT FOR THE YEAR ENDED 31 AUGUST 2022 The Trustee present their annual repwt tiwJether 7th the statements of the Endcmiment Fund {th8 Fund) for the 1 September 2021 to 31 AU$l 2022. The Trustee o)nfimis that the Annu81 R8POrt and finanaal statements of the fund comply Y•ith the lrent Statutory requlrements. the requirements of the Fund's gov8rnirwJ document and the prOS)nS of the Ststement of Recommended Practlce (SORP) applicable to charities eparing their accounts in acc4)rdance w1h the Finanoal Reporting Slandard applicabl8 in the UK and Republic of Ireland (FRS102) (effecknve 1 January 2019). Objectlves and aclmtles a. Object8 and alms The Fund's obJ8(a8 are as cyJUlned in the Deed of G The primary p[ of the Fund ate'.- (11 to provide grants, scholarships, bursaries any olher assistance. as tho Trusteos of the Cthnpany think fft to Klng Ethward Vl Shekson Heath Academy (the Academy) pupils in financh81 need., (21 to 8UPPOrt the provksion of services and fadlibes at Ihe Ac&Jemy. (31 to SUPFKXt the educational a(ievewit of A(3demy pupi15 tlwowJh pro.ng awards. prlles and other (41 to foster closer tss belween Ihe Academy and the (y)mrwnty. Induding prurnting educ¥tion and social welrare kn lh8 0munty Seed by the Academy The Trustee must agree to all withdraYraLs from Ihe Fund at a Board moeting. after tan9 into aCcol the views and recommendations of the ACademS senu rnargent le•n. The Trustee confimis that it has referred lo th8 guidance rtaIned In thè Charity Commission's general guidance on public benefft when reviewing the Fun(fs aims and otyectsves and in planning future activities and $8tting the grant making FKAicy for the Jvr. The Fund pn)vJès grants to asst eligible people to achi8ve the Fund's iknjects. a. Maln aChI•v•m• of the Fund The Investrnent portfolio has had 8 dlsappolnllrwJ perf(xmaThx. and was (hy•m s(Th 10% over the yoar. Thor8 W8r8 Some large lluctuations in the ffinanaal markets duriThJ the year. partIlartY due to Ihe war in Ukraine, and the flxed interest stocks in wr portfolio were espallY affeL#ed. Trustees recognise the importance of maintsining regular lines of ¢cKnmunication wilh the invesbnent thsers, and will continug io monitor their perfOance. The final instalment from the spLwwxs of £100.IXM). vms ro¢wved in the weNious financial yaar. HIStollY amounts receNed undgr the Deed of Gift hm bow wnlsed (m a receipls basis. a PL4icy that the company ntinues to a(knpL At the end of the current Trn¢la1 ar the sland at £2.639.0 (2021: £2,941 ,000). Expenditure in respect of grants paKI to hKllvlthl, or grrAys of, Sdents of the Academy are in line th tho oblects ofthe fund. Page 2
KING EDWAP.D I'l SHELDO% TH ENDOIP'PAENT FUND TRUSTEE'S REPORT (CONTINUÉD) FOR THE YEAR ENDED 31 AUGUST 2022 Achlev•m•nts and p•rfornwnc• (ntInUed1 b. Help lor Indivldual• In pursult of 11$ tharitable objectives, the company was abl8 to award grants to individuals. Grant Panents have been made, as far as [sible, direct to the individual. or group. to vhKxn the amount is due. This included as$l$tan¢o to the kademvs Music Club in the forni of iuition fees and musical instrumgnls. During the ar the ¢ompany was alAe to provide grants and further assislanc£ totalling £306.834 (2021: £74,880). The total of these grants has been agreed by the Board during the rrent year. The grants are paid via a donation of funds to the Charitsble Fund, V*K) in tum pay out the grants to indNlduals from their bank account. TrustO85 had previously expressed concern that tho numt¢r of awards being made was lower than anticlpaied. Dis¢us5ions took Iace with senior management. and plans arg in placg to make signfficant awards whlch will be of real benefit to the pupils as a whole. Trustees have agreed to furKI Iwo trips in the c¥Jming year. to the value of £18,920. In addition Trustees have agrèed to ¢ontribLrte £250,t)00 to the buikling of an all-weather pitch. on which work comrnencgd in late 2022. Th1$ woieLt will be both the Academy pupils. but also th8 bxal communty. Fundralslng The Endowment had no lundral$lrwJ a(iw1S requiriw disc]0gJre under S162A of the Charities Act 2011. d. Inveslm•nt pollcy The Trustee has agrèod to adopl a medium risk strategy of its investment portfollo. and thk8 will bo r•vIeW with the Invesknent Advisers on a regular basis. ProFrfJsed income yields are of the order of 3%. In June 2020 Tn100$ ayro8d to transler £2LKI.(KJO of Investhwt irK¢yne to the Investmont porttollo. Thls sum would fom part of the pryttdio. but be availatle for thdraWal whèn requirgd for awards, whether to indivldual$ or the lder communty. The movement in value of the £200.CN)O will reflect the mvement of the total portlolio. At 31 AU51 2022. the value had increased lo £230.252 12021.. £256.072) and is shown thIn restrl¢ted funds in the Ststem8nt of Financial Adivitias. These funds v4ill be used to fund the award for tho all- w¢alher pitch as notsd eadier in this ReporL Flnan¢lal r•vl•w a. Golng conc•m After making appropriate enquiries, Ihe Trustse has a reasonabl? wgthtion trt the Fund has adequate resources to continue in operati1 existence for the ft)reSe8ab fubJre and that there are no material uncertainties. For this reason, they continue to adopt the goiThJ concem basis in preparing the financial statem8nts. Further details regarding thé adop1 of Ihe ng concem basis can b8 found In th8 accounting polictes. b. Rosorves pollcy The reserrfe levels of the Endowment Fund fun in Ilno th the inv8stsn8nt portfollo valuatSon at the end of each year. The Tnjstees assess the valuation each quarter to 8nsure Ihat investments are perfomiing at an appropriat8 level. Page 3
I,¥G EDWARD V] SHELDON HEITH EN'DOWhlENT FUND TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Flnancl•l revl•w The Trttstee conslders that the assets we suffiaenl and lequ8te to fulffl the oblig8tkn of the cadty. In the foreseeable future. d. Prfnclp•l rlsks and ffic•rtalnll•s The Trustee has COndered the risks to whith the thwity is exp)sed arKI has laken Steps to mgate those rfsks. The primary risk is the proper managernent of the quoted investThEnts trk1 by the charivs investment advlws, EFG Harris Alday, on behaff of the tharity. The Trtee seeks to mitigate Ihi5 risk by receiving regular repcts detalllng the inveslment Pttl0. In lrbon. Ihe Trtse communicates with a represenlalfve of the Advlsers on a gUlar ba5. . Conslftutlon ng Ecbward Vl Sheldon Heath Endovmenl Fund wa$ regtslered as a charity Vith tho Charftles CommIssk on 23 December 2021 and is ¢onstiluled under a Deed ol Gift dated 30 September 2020. ng Edward Vl Slldon Heath Charllable Fund acts as custodlan for the Entknmient Fund and the day to day Operat of the Fund is administered by the (>Jvemors of King Edward Vl Sheldon Heath Academy. The overall respon$lblllty lor the man4•ff*nt of the Fund lies vAlh Ihe Tntslee. The strudure of the Fund ¢pIlse$ the Twsteo and the Tnle8'S diredtys. Th• Trustee directors meet at least ts¥lce por . and is supported by a Finance cmmittee. Details of Ihe Truste8 serrfed during the r is Ind In the Refarenca Administrative d8tails c page 1. The Tntstee dlrectors of the Charltable Fund who sw•ad durlr#J the y were: Ms L McWhlnnt¢, Chair untll CW11)r2022 Ms L Roan. Athng Chair from 10110r2022 (app(Mtrted as Tffustee 01101r2023) Mr J J Trafftird, Vi¢¢ Chair unlil 1511212021 (resigned as Trtth 07107r2022) Ms K R Farroll. Wi¢8 Chair from 24111r2022 Ms R Eltkncks. Prinopal Mr G Dowling Mr D Haword Ms P N Mealia Ms C Clawlon (resigned 19101r2023) Ms M Gill (resigned 1710312022) Mr R Palmer. (resigned 0710712022) Ms A Clark (appointed 1710312022) Mr D R Kattva (apFKMnted 15104120221 Mr Y Mahrnoc#J (appcrfnted 07n712022) Ms H TcMns8nd {app)inted 07107r2022) Ms L Johnson {appJinted 01101r2023) Mr N Reed (opfmthtsd 01m1r2023) Page 4
ING EDWARD VI SHELDON HEATH ENDOWMENT FUND TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 8truclur•. gov•rnanc• and management (conllnu•d) b. D••d of Gift On 25 May 2010, a Deed of Gift and Dlar8150n ofTrust was 8Stablished involving the folowng P8rtie8: The Secretwy of Stste for Children arKI Famili85' the Company and three Sponsors Bimiingharn Cty Council. The National Exhibition Caltre Ltd and Cawts Binningham Limited. The Sponsors agreed to gfft a total of £2,000.000 to the Academy as an End¥ment Fund. and this has now been fulty paid. In September 2020. a Deed of variati to th8 Deed of Gtft and Oedaralion of Tnt fROvi$ Deed'> wa5 agreed and dY gned by all parbes on 30 September 2020. c. Method$ ol appolntm•nt or el•ctton of Tntee The Trustee was appolnted in acujrdance 1h Ihe t)eed of Gift arwj Ded•rati of Trust {'Revisgd Deed">. Before anYe considers seeking appoinknent as a Tnlee or Trusteg director, and as part of the induction process. they are ex[ to familiarise themselves ¥th the responsibilibes of trustees. read the Charity Commission literature on this subject and (arefully read the Deed of Gift and D8daration of Trust the latest finanaal statements. Opportunities for training are readlty awlable and Trustee director5 are euraged to familiarlse themselv¢s wtth the day to day operations. d. Connothd pwty rolaUon•hlps Klng Edward Vl Shekkn Heath Charitable Fund. TnJst80 ofthis fund. is custfJlan to Ihe Endowment Fund. o. Tru•ts• Ind•mnlty The Trustee aTranged Trustee lTrJ8mnty InsurwTh Zwlth Irwran¢e. Plans for futur• pgrlods The Truste8 will continue to monitor and reviaw inveslmÈnt pwromnce ryth thdr Investment advlsers to ensure that the retum remains at any apprrylate level. Trust••'s Ilablllty Each trustee of Iho ¢arfty ur¥Jertakes to contrbbute to thg assets of th8 in the event of It b8lng wound up while helshe Is a trustoe. or thin one after helshe ceases to be a trustso, suth amount as may b required. Mt exceeding £ 1 fw Iho dobts liabiliiies contracted before helsho ¢easo$ to bp a trustse. Page 5
.Ilh'G ED JVARD VI SHEI DON ,TH Ft4DOWI.IENT FUND TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Stat•m8rt of Tnte•' TupoMlblllll•s The TTUSte• 1$ responsible for weparlng the Trustee's ReF#t and the ftnancial statements in a0lance applicable law and United ngdarn ACtnting Standards (United lQngdom Generalty ALep Accounting Practice). The law apph'cable to Charl in Englarnl & Walos wulres the Tntstee to prepwe financial statements Jr each finanal spar which give a trug and fair of the state of affairs of the Charity and of Its incfjming resourc0$ and application (rf resou, induding ts In0) and expenditure. tor that rrltsJ. In preparing th8S8 finanL?al statements, the Trustee are required to: select surtable a(xountlng poli(ies arml then apply them consistty. Obse the metlK)ts and principle5 of the Charttses SORP (FRS 102). make judgments and accwnting estirrths that are reasonabb aThJ wuden¢ state whether applicablg UK A¢¢oLmtirwJ Slandards IFRS 102) have been followed, subJ8d to any materi81 deparlurns disdosed and explaln&l in the finanual statements. prepare the financial slatemonts (m the goin9 Conl basts unless it 15 inappropriate to presume Ihat tho Charity will ojntinue in business. The Trusteg is T9sFlIe for keeFMrwJ uate accountiThJ rec4xds that ar6 Suffiaenl to show and explain the Charws transactions and disd05e 1th reascrfthle ac(XJTacy at any time the financlal poshion of the Charity and enable them to grre that the finral statements comF4y ryth the Charities Act 2011, the Charity {A¢eounts and Reports) Regulations 2008 the provisions of the Trust deed. They are also responsible for safeguaTdlng the assets of the Chanty and heno for taklng reasonable steps for the prevention and detection of fraud and other irre9ar1tie5. Approved by order of ts Board and SIryd ivs behalf ty. sLRoan For and on behaw of Klng Edwwd Vl Sheldon Healh Charilable Fund Date: 11 '2QI3 Page 6
KING FD'14ARD VI SHFLDON HEATH ENDOWMENT FUND INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2022 Independent Examln•rf• R•port to the Tn1•0 of Klng Edward Vl Sheldon Hmth Endoment Fund fthe Fund.) I report to the Fund Trtlee my examination of the accamts of Ihe Fund fr the year eThJed 31 August 2022. Responslbllltlu •nd Basls of Report As the Trustse of the Fund we responsible for the pr•pation of the acc¢)unts in aCrdance th the requlrements ofthe Charities Act 2011 fthe 2011 Acr). I report In r8sp9Ct of my examination of the Funds accounts out und8r section 145 of the 2011 Act and In carrng out my examination I have folhxed the apF4itablo Directions gN8n by lh& Charity Commission under section 145(51(bl of the 2011 ACL Independent Examlnerf8 Statement Your attention is drawn to the fact th th? Fund ha5 prepared the ac(x)unts in accaydance wth A¢¢ounlng and Reporting by Charities.. Statement of Recommended Practice appliCae to charities preparing their accounts in accordance with the Finanual R8wrting Standard applicable in the UK and Republic of Ireland IFRS 102) in preference to the Accounting aj Reportirvj by Charities: Ststement of Recommended PractiCO issued on 1 April 2005 vthich Is referred to In the extant regulalions but has been withdrawn. l understand Ihat this has been d(Th in order for the acca)unts to Provide a tme arKI falr Mow in accordance with the Generaltykwted Accountrng Pra(c effective for reporting per8 beglnnlng on or •fter 1 January 2015. I have compwd my exam81. I c¢Jnfirni that no matters have c¢)me to my attontkn Ni connec4ion ryth the examlnallon gmng me to beli8v8 Ihat materS8l respec a¢o)unt6ng rec15 not kept in respect oflhe Fund as reqred by section 130 01 the 2011 Act., ( the accounts do not aCcd with those recls. or the accounts do not CoMY with the applicab requirements tnming the forni and content of aco)unts set out in the Charitles IA¢¢ounts and Reports) ReguLgtions 2008 other than any requirement that the accounts glve a Irue and wl¥th is not 8 matter (ThSKlered a8 Part of an Independent examlnation. I hava no c(wms and have come vLross no othér mattors n connK*on the examination to which att•ntlon shoukl be drdvm in this rewt in order to onabb a pmp•r underslanding of the accounts to be reached. Page 7
KING EDI/IARL) 111 Srl.Ft P.EATli EIQDQW11ENT FUND INDEPENDENT EXLI:,:liER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Thls report is made solely to the Fun(fs TNstee wi acc(thn(¥ vrfh Part 4 of the Charftles (Accwnts and Ropjrts) Regulations 2008. My Drk has been undertaken so that I might stste to the Fund's Trustee those matters l am required to state to Ihem in an Irthpendent Examiners ReFxyi and for no other purtM)se. To the fullest exlenl pennitted by law. I do nol a¢c¢pt or assume responsbilty lo anycffle other than the Fund and the Fund's Trustee for my th or this rewt Signed: Matt D0ylfrH08Y Da1. 28 April 2023 Crowe U.IL LLP Chartered Accountants Blad( County House Rounds Green Road Oldbury West Mldlands 869 2DG Page 8
ING EDWARD VI SP.ELDON HEAI H EIDOwlENT FQND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2022 Total fvnds 2022 £000 Total fvnds 2021 funds 2022 funds 2022 £ODO Incomo from: Donations and legaae8 Investments 100 59 Totsl InGom• 92 159 Expgndlture on: Charitable activlties 92 59 Total •xpendlture 59 Nat In¢om• befor• net (los•esygaln8 on Invostments Net (lossesygains on investments (302) {302) 512 Net mov•m•nt In fvnds (302) 1302) 612 Roconclllatlon of funds: Total funds broughl forward Net movement in funds 2J41 (302) 2941 (302) 2.329 612 T¢Jtal funds carrled forwvd 1639 2,941 The Statemonl of Financial Actsvibes includes all gains and losses reCogned in the yoar. Tha noto$ on pages 11 to 19 fo part of these finanaal statements. Page 9
,ARn Vl ¢4fl nC,I liEAI H C%IDaivMEN I FUND BALANCE SHEET AS AT 31 AUGUST 2022 2022 2021 £000 Flxod assets Investrnonts 2,871 3.198 2,871 3.198 CuYr•nt ¥ss•ts Creditors: amounts falllw du8 rylhSn one year 10 (232) (257) 1639 2.941 Total n•t ass•ts 1639 2,941 Charlty fvnds Endo*Thent funds Restricted fiJKIs 11 11 2.941 11 Totsl funds 2.941 The finwdal statsments appru4ad author issu8 by the Trustee and Sied on their behalf by. M8 L Roan For and on bohalf of Ethrd M Sheldon Healh Charilav Fund Date: oi IOL The rK)tes on pages 11 to 19 fomi wt of Ihese naal slatement& Pa98 10
.r(ING EDWARD VI SHELDON tr.IEATH ENDOWV.FNT FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 G•n•ral Informatlon lQng Edward Vl Sheldon Heath ErKfynent Fund was registered as a tharlty wtth the Charities Comrni5sion on 23 December 2021. Its prrncipal operating office is sheld Heath Road. B1ingham, 826 2RZ. The Trustee of the fund is detailed on page 1. Accountlng pollcles 2.1 Basls of preparatton d flnanclal slatements The financial statements have been prepared in a(xordarTh wlth ts Charltlas SORP {FRS 102) - Accounting and Reporting by Charibes: Stat&ment of Recommended Practic& appSi¢abl¢ to ¢hartts8S preparing their accounts in accordance with the Finanaal ReWing Standard applicablo in Ihe UK and Republic of Ireland IFRS 102) leffedive 1 January 2019}. thè FinanGial ReportiThJ Standard applicable in the UK and Rwblic of Ireland {FRS 102) and the Charilies Act 2011. The financk81 statements hav8 been wopared to gr¥8 a aThd fairf NryV4V and have dgparted from the Charibes (Accounts and Reports) RegulatiS 2008 onty to the extent required to prowde a 'true and falff wew. This departure has InvoW follovding the Charitigs SORP (FRS 102) published in October 2019 rather than the ACc%nting arml Reporting by Charlbes: Statement of Recommended PractiCO off8¢tiVo fr(xn 1 Awil 2005 whith has Sin been withdrawn. Klng Edward Vl Sheldon Heath Endowment Fund meets the deffinon of a public b&nefit entity under FRS 102. ets and liatiltlies are inibalty recognised at historical cost or transaction value unless Otherwise slated in the relevant accwnting policy. 22 Inm• Al income is recognised once the tharity has entitsment to the Income. M 1$ probable that the income will be received and the amount of income can be measured reliably. Investment income. gn5 and ktsses are allocated to the appropriats fvnd. 2.3 Exp•ndlturn Grants payable are tharged in the year when tho offer 1$ m•Je to the institution in accordance with the companls Grant-making Policy. Grants are onty payable to lfjng Ed¥Yard Vl Sheldon Heath Academy for the benefft of the individual students of lfjng E(hvard Vl Sheldon Heath Academy. Expenditure is recx)gnised Or Ihère Is alogal or ¢onstrucve olgation to transf8r ecorK)mic benefit lo a third paty. Is probable that a transfer of oconcwnic beneffts will be required in setUem8nt and the amount of Iho obllgatbn on bo mwurod rBliabty. Expendre on dwritsblo a¢tivitse$ ara costs incurred on the fijnds operations, including donations to KirKJ Edvmrd W Sheklon kath Charitable Furnl in ijrder to award the grants to indNiduals. Expenditure ¢)n Charilaa a¢tivitsos is incurred on diredly und8ftaking th8 actrrfities whith furlher the Cha]itys 0ty8thvos, as wo11 as any assooatod supwt costs. All expendltyro k8 IU*ve of ITre(x)verabl8 VAT. Page 11
'(IXIy EDI.'JARD 111 V4E' DON HF'.T.4 ElI4)OW..,Ei¥T CLIIID NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 ¢ounting pollGlps (wthuod) 2A Inv0Stmonts Quoted fixed asset inveslments are a fomi of ffinan(aal Instsumont ard are Inltialty recognlsed at their transadion c05t and unty measured at fair valu¢ at thè Balanco Sheet date. Investmant gains and kjsses, whether realised or unrpallsed. wo cyJmbin¢d and shtrwn in the heading 'Gnsl(10550sl on inves1Tnts, in the Ststerrnnl of Flnan¢iat Acllvllie$. UrNId invdslrnnts are accwntod at transa(ath prf(. 2.5 Inv•slm•nt in¢om• Invgstsnont in¢<xno b Ied arKI kndudes dmdends and Interest from Invgstmants. 2.6 Llabllitim and prnvisi Liabllities are retsjgnised when there is an obligalion at the Balance Sheet dale as a result of a past event. 11 is probable that a transler of ec¢0mle benefii wiu be required in settiement. and the amount of the setement can be estimated reliably. Llabllities are regnISed at Ihe affl(nt that the FurKI anllupates 11 11 pay to setue debt or Ihe amount it has recdved as advanced paents for the gthls or servlces it must provlde. are Me8red at the best estimate of the arnnts r4Lffired to settle Ihe obllgat)n. Where the effect of the time value of money is maierial. the prov10 rs based on the present value of those amounts. discounted at the pr&tax thscount rate that rellects risks specrflc to the liabilty. The unwindirwJ of the discount is recognised In the Slatement of Finarthl Activilles as a flnance cost. 2.7 FlnwKlal Instrum•nts The fvnd onty hold5 basic finandal Instruments as defired In FRS 102. The ffinandal assets and finan(ial liabile$ of the crynpany and their measurement basls a as follows: Finandal assets- Investnts are held at fair value a5 detemilned bythe Investment Manager al the ar ervj. Financial liabilbtses- amourts OY•ing lo grnip c(xwny are flnandal Instruments, arKJ are mea$ur*J al amortised cost. 2.8 Fund accountlng End(Ywmgnt funds represents rostricled dwlion$ from BimIaM City Coundl. CAptta Blmiingham and The National Exhitxtson Centre Limited. The int8r85t r8ceNed ¢)n the assots on bo Spont on the furtherarKe of the fund's chwitablo objects, at the ithsuolim oftho Trustse. Page f2
KING fDWA?D VI SHELDON HEATH ENDOWMtNT FUND NOTES TO THE FINANCIAL STATEMÈNTS FOR THE YEAR ENDED 31 AUGUST 2022 Income from donatlons and l•y¢l funds 2022 £000 funds 2022 £000 Donations frryn Sponsors Endobvment fvnds 2021 Total lunds 2021 £000 100 Donatlons from Sponsors 100 Investment Income Restrlcted fund$ 2022 £000 Total lund8 2022 £ODO Incorne from listed investw 92 92 Total fvnds 2021 £000 fvnds 2021 £000 Income from listed investrnents Summary ty lund tyP• R•strl¢t•d funds 2022 £000 Totsl 2022 £000 Investrnent Incomè donated to KESH Charitabl8 Fund 92 92 Page 13
K'.J EDIYA4D W SLfELDONI PJ-IITL: C%'DO¥Vi&_hlT fuND NOTES I O THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 tysls of expendlttre on ¢harfval a¢tl¥ltles {¢onUnu•d) Summary by fund typo (contlnued) lunds 2021 Total 2021 £000 Investment inc¢x))e donated to KESH Charllable Fund 59 Analysis of expendlknre by a¢tlvh Actlvltles undortaken dlrectsy 2022 Total funds 2022 £000 Invesknent inccAne donated to KESH Charitable Fund 92 92 undertaken Total funds 2021 2021 Investrngnt Incm donated to KESH Charltatle Fund Ind•p•nd•nt wmin¢rfs r•mun•rat The kMleFrthnt examinets romeratk)n 0rtS to an indgpendgnt examiner fe8 of £320 r2021 - £310). arKI preparation of the finwKxal statwnents of £220 {2021- £210). Durlng the year, no Tntste8s rocot4ed any IrallOn or oO*r benth (2021 . £NILJ. Durlng the yoar erKlod 31 AJ51 1122, Th) Trustee eXpSeS have bo8n in(xwred 12021 . £NILI. Page 14
l!hlG ED'AXRD VI SHELDOW HÈATH EfvIDOINMEhlT FbND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Flxed ass•t Invulm•nts Investment awaltlng portlolbo relnvestment £000 Totsl £000 Cost or valu•tlon At 1 September 2021 Additions Dlsposals Unrealisgd gainl(k)8sI ravaluations Transfer of galnl(h)ss) on revaluation5 to KESH Charitabl8 Fund 3,171 3.114 (2,864) (552) 27 3,198 3,115 251 (552) 126) {26) At 31 Augusl 2022 28 2,871 All investments are held in listed inveslrnents. Paga 15
Llf .ATU EN'Dv¥J.<l-N i UND NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 AUGUST 2022 Cr•dltov•: Amounts falllng wlthln on• year 2022 2021 Amounts to KlrKJ Ei*wd Vl Sheidon Healh Charitsblg Furrfl 232 257 Pag8 16
VI SHFI DON HAF TH FhlDO¥JMENT fUN NOTES TO THE FINANCAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 11. Statement of funds Statement of funds- curr•nt •r Balanu at 1 S•pt•mber 2021 8alanco at GaIn 31 August (Loss) 2022 £000 £000 Income Expondlturo £000 EndoThnt funds End0Vent Funds- all fundg 1941 1302) 2,639 Restrlct•d funds Restricted Funts- all funds (921 Total of funds 192) (302) 2.639 The speoflc purposes for wh6th the furwjs aTr to be appl are as follows: Restrfcted funds represent ItrM)se resrceS vthich May be used towards meeting any of Ihe tharltable objects of Ihe company al the d1stret1 of Ihe Trustses. The End(mmt fund represents restri(aed donth from BiThiThJham CNY Coundl. Caplta Blmiingham Limited and The National Exhibition Centr8 Limited. The interest receNed on tre assets can be spent on the furtherance of the En&TlunlrS dwilabte objects. Statomont of funds- prfor yoar Balancg al 31 Augusl 2021 £000 1 September Gain 2020 Incorn Expenditure (Losses) Endowrnent funds Endowment FurKls - all furwjs 2.329 11x7 512 2,941 Restrlcted funds R•stricbJ Funds- all funds -(59) Total of funds 2.329 159 (59) 512 2,941 Page 17
l.iK'G fJ',l RD Il.. SblfLDQX LI.] rf Eh'=OV!?,.IEN. r FJJND NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 AUGUST 2022 12. Analy81s of net as•ets bètwe funds Total funds 2022 £000 funds 2022 £000 Fed asset inveslrnents Creditors due 2.871 P32) 2.871 1232) 2.639 2.639 Analysls of net assets betwn funds- prfor year funds 2021 fvnds 2021 Fixed asset investments Credltcrfs duo ¥Athln crn 3.198 (257) 3,198 (257) Total 2.941 2,941 11 R•lated party transactio Edowmerrt Fund donated investrnent income of £92,IM)0 (2021: £59.000} to lfjng Edward Vl Shel Heath Charitable Fund. th8 Trustee of the En(kn Fund. dumg the yBar. The Endowment Fund iyAed £232,000 (2021.. £257.ow) to l¥j Edward V] Sheldon Heath Charitab Fund. the Trustee of the Ermbwl Fund. at the swr eThl. 1& Mwnb•rn' liobility Eath membgr of the dHrStsble o)mpany undertakes to cJ)nlribute to the assets of the company in the ovont of il b0irwJ wwnd hile hel$ Is a rnemb. or within one ar after helshe ceases to be membor, $uth amount a$ may be required. not exeding £1 for Ihe debts and liabilrfies contracled bef<Ye hd$he ctsse$ to a member. Page 18
-,<ING EDWARD VI S4ELDOKI HEAIH ENDO':kMEN'T FUN'D NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 15. contAlIng party Klng Edward Vl Sheldon Heath Charitsble Fund Is the Trustee of thi$ Endowment Fund. Ils registered •Jdress is lfjrvj E¢*ward Vl Shddon Heath Ademy, Shehkni Heath Ro8d, Sheldon, 8imingham. B26 2RZ. The Principal purFM)ses are Ihe same as thls Endthvrnent Fund. Flnancial statements can be found at Companies House. P40 19