2023-08-31-accounts

			Page
Report ofthe Trustees		1	to	9
Report ofthe Independent	Auditors	10 to		12
Statement of Financial Activities
Balance Sheet			14
Notes to the Financial Statements		15 to		24

		FOR TH	E YEAR ENDED 31AUG	UST 2023
				31.8.23		31.8.22
				Unrestricted--~-		Total
				funds		funds
			Notes	F		F
INCOME AND ENDOWMENTS		FROM
Investment income				283,596		279,164
EXPENDITURE ON
Raising funds				3,354		4,216
Charitable activities
Educational grants				269,381		283,657
Total				272,735		287,873
Net gains/(losses)	on investments			(21,948)		(93,306)
NET INCOME/(EXPENDITURE)				(11,087)		(102,015)
RECONCILIATION	OF FUNDS
Total funds brought	forward			8,512,542	8,614,557
TOTAL FUNDS CARRIED FORWARD				8,501,455	8,512,542

	BALANCE SHEET 31AUGUST 2023
		31.8.23	31.8.22
		Unrestricted	Total
		funds	funds
	Notes
FIXEDASSETS
Tangible assets		572	934
Investments
Investments	10	707,536	723,870
Investment property	11	7,800,000	7,800,000
		8,508,108	8,524,804
CURRENT ASSETS
Debtors	12	7,153	1,284
Cash at bank		113,147	161,770
		120,300	163,054
CREDITORS
Amounts falling due within one year	13	(126,953)	(175,316)
NET CURRENT ASSETS		(6,653)	(12,262)
TOTAL ASSETS LESSCURRENT
LIABILITIES		8,501,455	8,512,542
NET ASSETS		8,501,455	8,512,542
FUNDS	14
Unrestricted funds		8,501,455	8,512,542
TOTAL FUNDS		8,501,455	8,512,542

INVESTMENT INCOME	INVESTMENT INCOME
								31.8.23	31.8.22
								F	F
Rents received								263,500	263,500
Investment portfolio								19,132	15,652
Bank interest								964	12
								283,596	279,164
RAISING FUNDS
Investment management			costs
								31.8.23	31.8.22
								F
Portfolio management								3,354	4,216
GRANTS PAYABLE
								31.8.23	31.8.22
									F
Educational grants								240,051	255,078
The total grants paid	to institutions			during		the year was as follows:
								31.8.23	31.8.22
								F
Royal Academy ofMusic								12,500	14,288
Royal College of Music								12,500	9,526
The St Marylebone Church			of England		School			100,527	139,434
The St Marylebone Church			of England		Bridge		School	47,939	26,605
Deaneries ofthe City	ofWestminster							(8,000)	8,000
StVincent's Family Project								5,000	2,000
Paddington Academy									10,000
St Mary ofthe Angels	School								14,200
All Souls Church of England			Primary School					1,000
Christ Church Bentinck Church of England						Primary School		1,000
St Mary's Bryanston	Square		Church	of	England		Primary School	1,000
								173,466	224,053
The total grants paid	to individuals			during		the year was as follows:
								31.8.23	31.8.22
Grant payable to individuals								66,585	31,025
Grants payable analysed		by nature:
								31.8.23	31.8.22
								F	F
Provision ofequipment								56,829	80,152
School maintenance								28,182	8,000
Building works/ improvements								22,330	85,887

	GRANTS PAYABLE -	GRANTS PAYABLE -	GRANTS PAYABLE -	GRANTS PAYABLE -	continued
	Student grants						127,710	54,839
	Provision		of	project funding				14,200
	Provision		of	school trips				10,000
	Provision		of	uniforms			5,000	2,500
							240,051	255,078
5.	SUPPORT COSTS
							Governance
						Management	costs	Totals
						F
	Educational			grants		21,775	7,555	29,330
	Support costs, included				in the above, are as follows:
	Management
							31.8.23	31.8.22
							Educational	Total
							grants	activities
							F
	Wages						16,632	15,778
	Pensions						313	286
	Rent						15	45
	Insurance						437	437
	ITsupport						2,497	2,196
	Subscriptions						294	294
	Printing,	postage and stationery					764	767
	Bank charges						98	107
	Sundry expenses						363	993
	Depreciation						362	361
							21,775	21,264
	Governance			costs
							31.8.23	31.8.22
							Educational	Total
							grants	activities
								E
	Auditors'		remuneration				3,780	3,600
	Auditors'		remuneration		for non audit
	work						750	720
	Legal and		professional		fees		3,025	2,995
							7,555	7,315

There were no truste 31 August 2022.	es' expen	ses	paid f	or the year ended 31 August 20	23 nor for t	he year ended
STAFF COSTS
					31.8.23	31.8.22
					F	F
Wages and salaries					16,632	15,778
Other pension costs					313	286
					16,945	16,064
The average monthly	number of	employees		during the year was as follows:
					31.8.23	31.8.22
Clerk to the trustees					1	1
No employees received emoluments			in excess off60,000.
COMPARATIVES FOR THE STATEMENT				OF FINANCIAL ACTIVITIES
						Unrestricted
						fundsf
INCOME AND ENDOWMENTS		FROM
Investment income						279,164
EXPENDITURE ON
Raising funds						4,216
Charitable activities
Educational grants						283,657
Total						287,873
Net gains/(losses) on	investments					(93,306)
NET INCOME/(EXPENDITURE)						(102,015)
RECONCILIATION OF FUNDS
Total funds brought	forward
As previously reported						1,036,515
Prior year adjustment						7,578,042
As restated						8,614,557

9.	TANGIBLE FIXEDASSETS
		Computer
		equipment
	COST
	At 1 September 2022 and
	31 August 2023	1,446
	DEPRECIATION
	At 1 September 2022	512
	Charge for year	362
	At 31 August 2023	874
	NET BOOK VALUE
	At 31August 2023	572
	At 31 August 2022	934
10.	FIXEDASSET INVESTMENTS
		Listed
		investments
	MARKET VALUE
	At 1 September 2022	723,870
	Additions	902,876
	Disposals	(897,262)
	Revaluations	(21,948)
	At 31 August 2023	707,536
	NET BOOK VALUE
	At 31 August 2023	707,536
	At 31 August 2022	723,870

of in	vestmen	ts by geographical area is as follo	ws:
			31.8.23	31.8.22
			E	F
Held	within	UK	707,536	547,006
Held	outside	UK		176,864
			707,536	723,870

Material	Investments	Investments
						Holding	Market Value
COIF Charities Rathbone Unit		Investment Fund - Income units Trust Management -Core for Charities			Inc	8,304.27 450,936.45	f156,702 f535,623

INVESTMENT PROPERTY
FAIR VALUE
At 1 September 2022
and 31 August 2023	7,800,000
NET BOOK VALUE
At 31 August 2023	7,800,000
At 31 August 2022	7,800,000

				FOR THE YE	FOR THE YE	FOR THE YE	AR ENDED 31AUGUST 2023
12.	DEBTORS:AMOUNTS			FALLING DUE			WITHIN ONE YEAR
								31.8.23	31.8.22
	Accrued income							7,017	874
	P repayments							136	410
								7,153	1,284
13.	CREDITORS: AMOUNTS				FALLING DUE WITHIN ONE YEAR
								31.8.23	31.8.22
								F	E
	Grant commitments							100,465	149,038
	Deferred income							21,958	21,958
	Accrued expenses							4,530	4,320
								126,953	175,316
	Deferred income	relates		to	rent	received	in advance.
								31.8.23	31.8.22
	Brought forward							21,298	21,298
	Released to incoming		resources			in year		(21,298)	(21,298)
	Income deferred	in year						21,298	21,298
	Carried forward							21,298	21,298
14.	MOVEMENT IN FUNDS
								Net
								movement	At
							At 1.9.22	in funds	31.8.23
									E
	Unrestricted funds
	General fund						527,328	(11,087)	516,241
	Designated fund						385,214		385,214
	Fair value reserve						7,600,000		7,600,000
							8,512,542	(11,087)	8,501,455
	TOTAL FUNDS						8,512,542	(11,087)	8,501,455

Net movement	in funds, included	in the above are as follo	ws:
		Incoming	Resources	Gains and	Movement
		resources	expended	losses	in funds
		F			F
Unrestricted	funds
General fund		283,596	(272,735)	(21,948)	(11,087)
TOTAL FUNDS		283,596	(272,735)	(21,948)	(11,087)

Compar	ative	s for moveme	nt in fun	ds
						Prior	Net
						year	movement	At
					At 1.9.21	adjustment	in funds	31.8.22
Unrestricted		funds
General	fund				651,301	(21,958)	(102,015)	527,328
Designated		fund			385,214			385,214
Fair value reserve						7,600,000		7,600,000
					1,036,515	7,578,042	(102,015)	8,512,542
TOTAL	FUNDS				1,036,515	7,578,042	(102,015)	8,512,542
Comparative		net movement	in funds,	included	in the above	are as follows:
					Incoming	Resources	Gains and	Movement
					resources	expended	losses	in funds
						F
Unrestricted		funds
General	fund				279,164	(287,873)	(93,306)	(102,015)
TOTAL	FUNDS				279,164	(287,873)	(93,306)	(102,015)