##
|Reference|and Administrative|Details|||||
|---|---|---|---|---|---|---|
|Trustees:|||||||
|||Dr G.M. Copland,|C.B.E., M.A.,||D.Phil. , C.Phys.|, F.lnstP. ,|
|||F.R.S.A., (Chairman)|||||
|||Mr. S Bediako O.B.E.|||(appointed|9August 2020)|
|||Ms. S.Bray|||||
|||Dr. K Hewlett
M.B.E.|||||
|||Ms. T. Nickson,
M.A.,||B.Ed (Hons)|||
|||Ms.J.Tyler|||||
|||Rev. Prof. William|Whyte||||
|||Prof. T.Wilkinson|M.A., Ph.D.||(retired 23|November 2020)|
|Administrator:||Pellipar Services|Limited||||
|Auditors:||Wenn Townsend,|||||
|||Chartered
Accountants,|||||
|||30StGiles',|||||
|||Oxford.|||||
|Bankers:||National
Westminster||Bank,|||
|||91 London Road,|||||
|||Headington,|||||
|||Oxford.|||||
|Investment|managers:|CCLA Investment|Management||Limited,||
|||80 Cheapside,|||||
|||London.|||||
|Registered|Charity No:|206121|||||
|Registered|Office:|Skinners'
Hall,|||||
|||8 Dowgate
Hill,|||||
|||London,|||||
|||EC4R2SP.|||||
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||||Note|Unrestricted|Designated|2021|2020|
|---|---|---|---|---|---|---|---|
|||||General|Capital|Total|Total|
|||||||E||
|Income from:||||||||
|Donations|||||2,040|2,040|340|
|Investments||||124,191||124,191|122,339|
|Properties||||56,830||56,830|70,695|
|Total income||||181,021|2,040|183,061|193,374|
|Expenditure
on:||||||||
|Charitable
activities||||(342,508)||(342,508)|(127,519)|
|Total expenditure||||(342,508)||(342,508)|(127,519)|
|Realised gains on investment||assets||||||
|Unrealised
gain on revaluation||of||||||
|investment
assets||||25,921|566,838|592,759|41,381|
|Net (expenditure)/income||||(135,566)|568,878|433,312|107,236|
|Fund balance brought|forward|||492,656|4,879,720|5,372,376|5,265,140|
|Fund balance carried|forward|||357,090|5,448,598|5,805,688|5,372,376|
##
||||||Note|||||
|---|---|---|---|---|---|---|---|---|---|
||||||||2021||2020|
|Fixed assets||||||||||
|Investments|||||||4,386,334||3,793,575|
|Investment|properties||||||1,213,900||1,213,900|
||||||||5,600,234||5,007,475|
|Current assets||||||||||
|Debtors|||||9|76,225||66,725||
|Cash at bank and|||in hand||10|161,216||321,535||
|||||||237,441||388,260||
|Creditors: Amounts||falling due||||||||
|within one year||||||(37,820)||(30,647)||
|Net current assets|||||||199,621||357,613|
|Debtors due after more than one||||year|||5,833||7,288|
|Net assets|||||||5,805,688||5,372,376|
|Unrestricted
funds||—general|||13||357,090||492,656|
|||-designated||capital|13||5,448,598||4,879,720|
|Total funds|||||||5,805,688||5,372,376|
##
##
##
##
||g)|Going Concern|Going Concern||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||The|financial
statements
have||been||prepared|||on a going|||||concern
basis as the trustees|||believe||that||no|material|||
||uncertainties
exist. The trustees|||have considered|||||the level||offunds
held and||||the expected
level ofincome|||||and|expenditure||||
||for 12 months
from authorising|||these||financial|||statements.|||The budgeted|||income
and expenditure|||is|sufficient|||with|the||
||level|of reserves for the charity||to|be able to continue as a|||||||going concern. The Trustees
have considered||||||||the|impact||that||
||Covid|19has had on its operations|||when assessing|||||going concern.|||||||||||||||
||2|Donations
and legacies|||||||||||||||||||||||
|||Included
in donations|are||the following||||including|||gift||aid received|in the year:||||||||||
||||||||||||||||2021||||||2020||||
|||Sundry donations|||||||||||||2,040|||||||340|||
||3|Investment
income|||||||||||||||||||||||
|||Interest receivable|||||||||||||59|||||||1,403|||
|||Dividends
receivable|from investments||||||and unit||trusts||||124,132||||||120,936||||
||||||||||||||||124,191||||||122,339||||
|||Charitable
activities|||||||||||||||||||||||
|||Grants made
in the year|||- to|individuals|||||||||73,930||||||47,224||||
||||||-to|charitable|||organisations||||||159,579||||||32,747||||
||||||-other||including|||Digital||Skills
Programme
57,572|||||||||||||
|||Surveyors
8 legal fees||re investment|||||property|||||||||||||600|||
|||Audit|||||||||||||2,718|||||||2,640|||
|||Management
fees|||||||||||||44,988||||||40,011||||
|||Office costs including|meetings,||||travel||8|training|||||541|||||||418|||
|||Bank charges|||||||||||||102||||||||||
|||Website costs|||||||||||||3,078|||||||3,879|||
||||||||||||||||342,508||||||127,519||||
||Included
within Grants made|||in|the|ear are|||a|ments|to||the followin||or anisations:||||||||||
|Articulate
Cultural
Trust||||||||||5,000||||M
Time||||||||||5,000|
|Bliss|abilit|Itd||||||||2,500||||The National|Emer encies|||||||||25,000|
|Buckin
hamshire
Disabili
Service||||||||||5,000||||North T neside Disabilit
Forum||||||||||3,700|
|Carmarthenshire
Youth and Children's||||Association||||||5,000||||Park View Pro ect||||||||||2,977|
|The|Chamwell
Centre|||||||||5,000||||Recom||||||||||5,000|
|Cleveland
Housin
Advice Centre||||||||||5,000||||Slou
h Refu|ee Su
ort|||||||||4,000|
|E ic|Partners|||||||||4,995||||Startu
online||||||||||4,750|
|Faith|Forum London|||||||||5,000||||Stren
th and|Learnin
Throu|h Horses||||||||5,000|
|Foundation||92||||||||5,000||||Sussex Association
for S ina||Bifida 8||H droce|||halus|||5,000|
|Ga|-ACommunit
Pro'ect|||||||||1,208||||Thanet Communit
Develo
ment|||Trust||Ltd|||||3,000|
|Hull|FC Ru|b
Communit
S orts 8|Education||||Trust|||5,000||||Thomas Wall Nurse||||||||||250|
|Hacro||||||||||5,000||||Time To Hei|UK|||||||||5,000|
|It's|our choice|||||||||5,000||||Townsend
Youth Partnershi||||||||||5,000|
|Kilmamock||YMCA Plus||||||||3,699||||Workin
0 tions in Education||||||||||5,000|
|Kin|standin|Re eneration
Trust RC||||||||5,000||||Youn
Creatives
Nottin
ham||||||||||3,500|
|Men|h s|||||||||5,000||||Youth Fedn.|for Cheshire,
Halton,||Warrin|||ton 8 Wirral||||5,000|
||All ofthe above recipients each||||received one grant payment
during
the year.
The Digital||||||||||||Skills||Programme||||was||
||an initiative
to celebrate the||centenary||||of the Charity||||and|||there are currently
no plans||to repeat||||it. The Charity|||||
||also|made two large grants to the National||||||Emergencies|||||Trust in response to the crisis|||caused|||by|Covid||19.|||
##
##
##
|||||Unrestricted|Funds||
|---|---|---|---|---|---|---|
|||||2021||2020|
|||||E|||
|Auditor's|remuneration|including|VAT:||||
|Current|year|||2,718||2,640|
##
##
##
##
|Fixed asset investments|Fixed asset investments|||||2021|2020|
|---|---|---|---|---|---|---|---|
|COIF:||||||||
||Market value at 1stAugust 2020|||3,793,575||3,752,194||
||Disposal proceeds|||||||
||Purchases|||||||
||Realised gains on disposal|||||||
||Unrealised
gains
in year|||592,759||41,381||
||Market value at 31stJuly 2021|||||4,386,334|E3,793,575|
|Investment
properties:||||||||
|55|High Street, Staines|||||||
||Market value at 1stAugust 2020|||1,200,000||1,200,000||
||Movement
in valuation|||||||
||Market value at 31stJuly 2021|||||1,200,000|1,200,000|
|2a|Outram Street, Sutton
in Ashfield|||||||
||Market value at 1stAugust 2020|||13,900||13,900||
||Movement
in valuation
in the year|||||||
||Market value at 31stJuly 2021|||||13,900|13,900|
||Total investment
properties|||||1,213,900|1,213,900|
|a)|The historic cost of the COIF|investments||at 31st|July|2021 was F3,408,965 (2020: E3,408,965).||
||The increase
in market value|during|the period was 15.6% (2020: 1.1%).During||||the same period,|
||the FTSE 100 index rose by 19.2%(2020:|||-22.2%).||||
|b)|The market value of COIF investments||held within||and|outside the UK, using asset allocation as at||
||30th June 2021 was:|||||||
|||||||2021|2020|
||||||||E|
||inside the UK|||||1,390,468|1,441,334|
||Outside the UK|||||2,995,866|2,352,241|
|||||||4,386,334|3,793,575|
##
##
##
##
|that date.|||||
|---|---|---|---|---|
||||2021|2020f|
|Balance|brought
forward 1stAugust 2020||4,879,720|4,839,808|
|Donations
received|||2,040|340|
|Realised|profit on sale of investments||||
|Change|in market value of investments||566,838|39,572|
|Balance|carried forward 31stJuly 2021||5,448,598|4,879,720|
|General|fund||||
|This fund|represents
money
not set aside for a particular|purpose.|||
|Balance|brought
forward
1stAugust 2020||492,656|425,332|
|(Deficit)/surplus
for the year|||(161,487)|65,515|
|Realised|profit on sale of investments||||
|Change|in market value of investments||25,921|1,809|
|Balance|carried forward 31stJuly 2021||357,090|492,656|
##
##
||||Unrestricted|Designated|2020|
|---|---|---|---|---|---|
||||Generalf|Capital|Total
f.|
|Donations||||340|340|
|Investments|||122,339||122,339|
|Properties|||70,695||70,695|
|Total income|||193,034|340|193,374|
|Expenses||||||
|Charitable
expenditure|||(127,519)||(127,519)|
|Realised gains on investments||||||
|Unrealised
gain on investment||assets|1,809|39,572|41,381|
|Net movements
in funds|||67,324|39,912|107,236|
|Fund balance brought|forward||425,332|4,839,808|5,265,140|
|Fund balance carried|forward||492,656|4,879,720|5,372,376|
##
##
##
|||||||2021||2020|
|---|---|---|---|---|---|---|---|---|
|Income|||||||||
|Dividends
and interest on investments||||||124,132||120,936|
|Deposit interest||||||59||1,403|
|||||||124,191||122,339|
|Rents receivable:||55 High|Street, Staines||56,135||70,000||
|||2a Outram||Street,|||||
|||Sutton|in Ashfield||695||695||
|||||||56,830||70,695|
|Donations
received||||||2,040||340|
|Total income||||||183,061||193,374|
|Deduct: expenditure|||||||||
|Professional fees|||||||||
|Audit|||||2,718||2,640||
|Management
fee|||||44,988||40,011||
|Investment
property||costs|||||600||
||||||47,706||43,251||
|General|||||||||
|Postage, stationery,||printing|8|telephone|178||349||
|Subscriptions|||||264||||
|Travelling
and meeting expenses|||||||34||
|Website costs|||||3,078||3,879||
|Training|||||||||
|Bank charges|||||102||||
|Sundry expenses|||||99||35||
||||||3,721||4,297||
|Grants|||||||||
|To individual
students|||||73,930||47,224||
|Digital Skills Programme|||||57,822||||
|To organisations|||||159,329||32,747||
||||||291,081||79,971||
|Total expenditure||||||(342,508)||(127,519)|
|Net (deficit)/surplus|for the year|||||(159,447)||65,855|
##
##
|||||||2021f||2020
E|
|---|---|---|---|---|---|---|---|---|
|Capital fund|||||||||
|Balance|at 1stAugust 2020|||||4,879,720||4,839,808|
|Donations||received|||2,040||340||
|Realised|and unrealised|||gains on investments|566,838||39,572||
|||||||568,878||39,912|
|Balance|at 31stJuly||2021|||5,448,598||4,879,720|
|Represented||by:|||||||
|Investment||properties|at market value|||1,213,900||1,213,900|
|Quoted|investments||at market value|||4,194,520||3,627,682|
|Cash and||bank||||40,178||38,138|
|Net assets on||capital fund||||5,448,598||4,879,720|
|||||2021||2020f|
|---|---|---|---|---|---|---|
|Income fund|||||||
|Accumulated
surplus at|1stAugust 2020|||492,656||425,332|
|(Deficit)/surplus
for the year||||(161,487)||65,515|
|Realised and unrealised|gain on investments|||25,921||1,809|
|Accumulated
surplus at|31stJuly 2021|||357,090||492,656|
|Represented
by:|||||||
|Investments||||191,814||165,893|
|Debtors|||||||
|—Prepayments||and accrued income||82,058||74,013|
|Cash and bank|||||||
|- Bank current||and COIF deposit account||121,038||283,397|
|Creditors|||||||
|- Sundry Creditors|||23,315||27,833||
|— Accruals|||2,718||2,640||
|— Rent received||in advance|11,787||174||
|||||(37,820)||(30,647)|
|Net assets on income fund||||357,090||492,656|
|Reconciliation
ofnet assets|
|---|
|At 31stJuly 2021|
||2021|2020|
|---|---|---|
|Net assets on capital fund (see page B)|5,448,598|4,879,720|
|Net assets on'income
fund (see page C)|357,090|492,656|
|Total net assets (see page 8)|5,805,688|5,372,376|