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|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|
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|||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||
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||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|
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|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|
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||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|
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|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|
##
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|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|
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|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|
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|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|
##
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|||||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)|
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|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)|
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