This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.
2024-04-05-accounts
| Trustees |
Mr TG White |
(Appointed 13 February 2023) |
|
Mrs CJ White |
(Appointed 13 February 2023) |
|
Mrs JL D'Angelo |
(Appointed 13 February 2023) |
|
Mr AEJ Hall |
(Appointed 13 February 2023) |
| Senior management |
Mr T G White |
Chair |
|
Mrs J L D'Angelo |
Administrative role |
| Charity number (England and Wales) |
1201929 |
|
| Principal address |
The Grange |
|
|
Longmeadow |
|
|
Lode |
|
|
Cambridge |
|
|
CB25 9HA |
|
| Auditor |
Whitings LLP |
|
|
Fenland House |
|
|
15B Hostmoor Avenue |
|
|
March |
|
|
Cambridgeshire |
|
|
PE150AX |
|
| Bankers |
Lloyds Bank |
|
|
98 Victoria Street |
|
|
London |
|
|
SW1W 5JL |
|
| Investment advisors |
City Asset Management PLC |
|
|
7 Bishopgate |
|
|
London |
|
|
EC2N 3AR |
|
|
Page |
| Trustees' report |
1 -4 |
| Statement of trustees' responsibilities |
5 |
| Independent auditor's report |
6-8 |
| Statement of financial activities |
9 |
| Balance sheet |
10 |
| Statement of cash flows |
11 |
| Notes to the financial statements |
12-18 |
|
|
Unrestricted Total |
Unrestricted Total |
|
|
funds |
|
|
|
2024 2024 |
|
|
Notes £ £ |
|
|
| Income from: |
|
|
|
| Donations and legacies |
3 |
3,500,000 |
3,500,000 |
| Investments |
4 |
96,210 |
96,210 |
| Total income |
|
3,596,210 3,596,210 |
|
| Expenditure on: |
|
|
|
| Charitable activities |
5 |
2,395 |
2,395 |
| Investment management costs |
|
16,211 |
16,211 |
| Other expenditure |
8 |
3,561 |
3,561 |
| Total expenditure |
|
22,167 |
22,167 |
| Net gains/(losses) on investments |
|
42,287 |
42,287 |
| Net income and movement in funds |
|
3,616,330 3,616,330 |
|
| Reconciliation of funds: |
|
|
|
| Fund balances at 13 February 2023 |
|
|
|
| Fund balances at 5 April 2024 |
|
3,616,330 3,616,330 |
|
|
|
2024 |
|
Notes |
£ £ |
| Fixed assets |
|
|
| Investments |
10 |
3,098,613 |
| Current assets |
|
|
| Debtors |
12 |
123 |
| Cash at bank and in hand |
|
518,655 |
|
|
518,778 |
| Creditors: amounts falling due within one year |
13 |
(1,061) |
| Net current assets |
|
517,717 |
| Total assets less current liabilities |
|
3,616,330 |
| Net assets |
|
3,616,330 |
| The funds of the Foundation |
|
|
| Unrestricted funds |
14 |
3,616,330 |
| Total funds |
|
3,616,330 |
| The financial statements were approved by the trustees on |
izKfx^ |
|
| Mr TG White |
|
/^FS^
;J White |
| Trustee |
|
^t
see |
|
|
2024 |
|
Notes |
£ £ |
| Cash flows from operating activities |
|
|
| Cash generated from operations |
17 |
3,478,771 |
| Investing activities |
|
|
| Purchase of investments |
|
(3,056,327) |
| Investment income received |
|
96,211 |
| Net cash used in investing activities |
|
(2,960,116) |
| Net cash generated from financing activities |
|
|
| Net increase in cash and cash equivalents |
|
518,655 |
| Cash and cash equivalents at beginning of period |
|
|
| Cash and cash equivalents at end of period |
|
518,655 |
|
|
Unrestricted |
Total |
|
|
funds |
|
|
|
2024 |
2024 |
|
|
£ |
£ |
|
Donations and gifts |
3,500,000 |
3,500,000 |
| 4 |
Income from investments |
|
|
|
|
Unrestricted |
Total |
|
|
funds |
|
|
|
2024 |
2024 |
|
|
£ |
|
|
Income from listed investments |
51,762 |
51,762 |
|
Interest receivable |
44,448 |
44,448 |
|
|
96,210 |
96,210 |
|
|
Unrestricted |
Total |
|
|
funds |
|
|
|
2024 |
2024 |
|
|
£ |
£ |
|
Direct costs |
|
|
|
Grant funding of educational courses |
2,000 |
2,000 |
|
Grant funding of activities (see note 6) |
395 |
395 |
|
|
2,395 |
2,395 |
|
Analysis by fund |
|
|
|
Unrestricted funds |
2,395 |
2,395 |
| 6 |
Grants payable |
|
|
|
|
Unrestricted |
Total |
|
|
funds |
|
|
|
2024 |
2024 |
|
|
£ |
£ |
|
Grants to individuals |
395 |
395 |
|
Unrestricted |
Total |
|
funds |
|
|
2024 |
2024 |
| Bank Fees |
30 |
30 |
| Insurance |
105 |
105 |
| Website & IT Costs |
2,435 |
2,435 |
| Financing costs |
956 |
956 |
| Other expenditure |
35 |
35 |
|
3,561 |
3,561 |
|
Listed |
|
investments |
|
£ |
| Cost or valuation |
|
| At 13 February 2023 |
|
| Additions |
3,056,327 |
| Valuation changes |
42,287 |
| At 5 April 2024 |
3,098,614 |
| Carrying amount |
|
| At 5 April 2024 |
3,098,614 |
| 11 |
Financial instruments |
|
|
|
2024 |
|
|
£ |
|
Carrying amount of financial assets |
|
|
Instruments measured at fair value through profit or loss |
3,098,614 |
| 12 |
Debtors |
|
|
|
2024 |
|
Amounts falling due within one year: |
£ |
|
Prepayments and accrued income |
123 |
| 13 |
Creditors: amounts falling due within one year |
|
|
|
2024 |
|
|
£ |
|
Trade creditors |
461 |
|
Accruals and deferred income |
600 |
|
|
1,061 |
|
At 13 Incoming Resources Gains and At 5 April |
|
February 2023 resources expended losses 2024 |
|
£ £ ££ £ |
| General funds |
3,596,210
(22,167)
42,287 3,616,330 |
|
Unrestricted |
Total |
|
funds |
|
|
2024 |
2024 |
|
£ |
£ |
| At 5 April 2024: |
|
|
| Investments |
3,098,613 |
3,098,613 |
| Current assets/(liabilities) |
517,717 |
517,717 |
|
3,616,330 |
3,616,330 |
| 17 |
Cash generated from operations |
2024 |
|
|
£ |
|
Surplus for the period |
3,616,330 |
|
Adjustments for: |
|
|
Investment income recognised in statement of financial activities |
(96,210) |
|
Net gains/( losses) on investments |
(42,287) |
|
Movements in working capital: |
|
|
(Increase) in debtors |
(123) |
|
Increase in creditors |
1,061 |
|
Cash generated from operations |
3,478,771 |