| Trustees' Report | ||
|---|---|---|
| Objectives and Activities | ||
| Achievements and Performance |
||
| Financial Review | ||
| Future Plans | ||
| Structure, Governance | and Management | |
| Reference and Administrative | Details | |
| Statement ofTrustees' Responsibilities | ||
| Independent Auditors' Report |
||
| Statement ofFinancial Activities | ||
| Balance Sheet | ||
| Statement of Cash Flows | ||
| Accounting Policies |
||
| Notes to the Financial Statements |
| 12Month | ||||||
|---|---|---|---|---|---|---|
| Note | Unrestricted | Restricted | Endowment | Total | 7Month | |
| fund | fund | fund | 2022 | Total 2021 | ||
| Income and endowments | from: | |||||
| Donations and legacies |
28,892 | 28,892 | 75,677 | |||
| Rental income | 410,526 | 410,526 | 245,307 | |||
| Investment income |
135 | 135 | 146,796 | |||
| Total | 410,661 | 28,892 | 439,553 | 467,780 | ||
| Raising funds | ||||||
| Investment costs |
14,756 | |||||
| 14,756 | ||||||
| Charitable activities |
||||||
| Grants | 300,000 | 300,000 | 14,679,508 | |||
| Support costs | 45,168 | 45,168 | 68,498 | |||
| 345,168 | 345,168 | 14,748,006 | ||||
| Total expenditure | 345,168 | 345,168 | 14,762,762 | |||
| Net gains on investments | 142,192 | 142,192 | 814,866 | |||
| Net movement in funds |
65,493 | 28,892 | 142,192 | 236,577 | (13,480,116) | |
| Funds at 1August 2021 | 767,092 | 253,597 | 6,128,983 | 7,149,672 | 20,629,788 | |
| Funds at 31July 2022 | 832,585 | 282,489 | 6,271,175 | 7,386,249 | 7,149,672 |
| Note | 31July 2022 | 31July | 2021 | ||
|---|---|---|---|---|---|
| Fixed assets | |||||
| Investment | property | 6,271,175 | 6,128,983 | ||
| 6,271,175 | 6,128,983 | ||||
| Current assets | |||||
| Debtors | 768,048 | 711,671 | |||
| Cash at bank | 412,516 | 390,995 | |||
| 1,180,564 | 1,102,666 | ||||
| Creditors | 65,490 | 81,977 | |||
| Net current assets | 1,115,074 | 1,020,689 | |||
| Total assets | 7,386,249 | 7,149,672 | |||
| Funds | |||||
| Endowment | 10 | 6,271,175 | 6,128,983 | ||
| Restricted | 9 | 282,489 | 253,597 | ||
| Unrestricted | 8 | 832,585 | 767,092 | ||
| 7,386,249 | 7,149,672 |
| 2022 | 2021 | ||
|---|---|---|---|
| Cash flows from operating activities: |
|||
| Net cash provided by operating activities |
21,521 | (580,411) | |
| Cash flows from investing activities: |
|||
| Proceeds from sale ofinvestments | 1,553,671 | ||
| Purchase of investments | (1,637,773) | ||
| Net cash used in investing activities: |
(84,102) | ||
| Change in cash and cash equivalents | in the period | 21,521 | (664,513) |
| Cash and cash equivalents at 1August 2021 |
390,995 | 1,055,508 | |
| Cash and cash equivalents at 31July |
2022 | 412,516 | 390,995 |
| Cash flows from operating activities |
2022 | 2021 | |
| Net income for the reporting period |
|||
| (as per the statement of financial activities) |
236,577 | (13,480,116) | |
| Adjustments for: |
|||
| (Gains) on investments | (142,192) | (807,866) | |
| Investments gifted to Merchant Taylors' Foundation |
13,517,486 | ||
| (Increase)/Decrease in debtors |
(56,376) | 159,143 | |
| (Decrease)/Increase in creditors |
(16,488) | 30,942 | |
| 21,521 | (580,411) |
| . Grants |
|||
|---|---|---|---|
| 12Month Total | |||
| 2022 | |||
| Institutional | grants | ||
| Merchant | Taylors' Foundation | 300,000 | |
| Total | 300,000 | ||
| Comparative | information | ||
| 7Month Total | |||
| 2021 | |||
| Institutional | grants | ||
| Merchant | Taylors' Foundation | 14,683,946 | |
| Individual | Grants | 362 | |
| Historical | grants written back | (4,800) | |
| Total | 14,679,508 |
| 12Month Total | 7Month Total | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Administration | costs | 29,048 | 27,484 | |
| Debt written | off | 29,802 | ||
| Insurance | 520 | 286 | ||
| Professional | fees | 4,126 | ||
| Audit fees —current year | 7,200 | |||
| Audit fees —prior year | 8,400 | 6,800 | ||
| 45,168 | 68,498 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Valuation | at | 1August 2021 | 6,128,983 | 6,180,903 |
| Revaluation | 142,192 | (51,920) | ||
| Valuation | at | 31July 2022 | 6,271,175 | 6,128,983 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Valuation | at 1August 2021 | 12,846,293 | ||
| Additions | 1,637,773 | |||
| Disposals | (15,071,157) | |||
| Market value gains | 866,786 | |||
| Movement | in investment | cash | (279,695) | |
| Valuation | at 31July 2022 |
| 2022 | 2021 | ||
|---|---|---|---|
| Prepayments | &accrued income | 427 | 481 |
| Rent receivable | 16,019 | ||
| Other debtors | 751,602 | 711,190 | |
| 768,048 | 711,671 |
| 2022 | 2021 | |
|---|---|---|
| Accruals | 10,203 | 8,401 |
| Deferred income | 49,285 | 58,956 |
| Other creditors | 6,002 | 14,620 |
| 65,490 | 81,977 |
| Other creditors includes balances with connected parties: | ||
|---|---|---|
| 2022 | 2021 | |
| Bradestrete Services Limited | 6,002 | 14,620 |
| Balance | Income | Expenditure | Balance | ||
|---|---|---|---|---|---|
| 1August 2021 | 31July 2022 | ||||
| Unrestricted | funds | 767,092 | 410,661 | (345,168) | 832,585 |
| Comparative | information | Balance | Income | Expenditure | Balance |
| 1January 2021 | 31July 2021 | ||||
| Unrestricted | funds | 1,430,648 | 436,573 | (1,100,129) | 767,092 |
| 9. Restricted |
Funds | ||||
| Balance | Income | Expenditure | Balance | ||
| 1August 2021 | 31July 2022 | ||||
| Parker bequest | 253,597 | 28,892 | 282,489 | ||
| Comparative | information | Balance | Income | Expenditure | Balance |
| 1January 2021 | 31July 2021 | ||||
| Parker bequest | 222,752 | 31,207 | (362) | 253,597 |
| Balance | Net Income | Investment | Balance | ||||
|---|---|---|---|---|---|---|---|
| 1 | August 2021 | gains | 31July 2022 | ||||
| Permanent | Endowment | 6,128,983 | 1421,92 | 6,271,175 | |||
| Comparative | information | Balance | Net Income | Investment | Balance | ||
| 1 | January 2021 | gatns | 31July 2021 | ||||
| Permanent | Endowment | 18,976,388 | (13,662,271) | 814,866 | 6,128,983 |
| At 31July 2022 | Unrestricted | Restricted | Endowment | Total |
|---|---|---|---|---|
| funds | funds | funds | funds | |
| Investments | 6,271,175 | 6,271,175 | ||
| Current assets | 832,585 | 282,489 | 1,115,074 | |
| 832,585 | 282,489 | 6,271,175 | 7,386,249 | |
| At 31July 2021 | Unrestricted | Restricted | Endowment | Total |
| funds | funds | funds | funds | |
| Investments | 6,128,983 | 6,128,983 | ||
| Current assets | 767,092 | 253,597 | 1,020,689 | |
| 767,092 | 253,597 | 6,128,983 | 7,149,672 |
| 2022 | 2021 | ||
|---|---|---|---|
| Due | within one year | 410,526 | 410,526 |
| Due | between one and five years | 1,642,107 | 1,642,107 |
| Due | after five years | 5,798,694 | 6,209,220 |
| 7,851,327 | 8,261,853 |
| 7Month | |||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | ||
| fund | fund | fund | 2021 | ||
| Income and endowments | from: | ||||
| Donations and legacies |
44,470 | 31,207 | 75,677 | ||
| Rental income | 245,307 | 245,307 | |||
| Investment income |
146,796 | 146,796 | |||
| Total | 436,573 | 31,207 | 467,780 | ||
| Raising funds | |||||
| Property costs | |||||
| Investment costs |
14,756 | 14,756 | |||
| 14,756 | 14,756 | ||||
| Charitable activities |
|||||
| Grants | 1,031,631 | 362 | 13,647,515 | 14,679,508 | |
| Support costs | 68,498 | 68,498 | |||
| 1,100,129 | 362 | 13,647,515 | 14,748,006 | ||
| Total expenditure | 1,100,129 | 362 | 13,662,271 | 14,762,762 | |
| Net gains on investments | 814,866 | 814,866 | |||
| Net movement in funds |
(663,556) | 30,845 | (12,847,405) | (13,480,116) | |
| Funds at 1January 2021 | 1,430,648 | 222,752 | 18,976,388 | 20,629,788 | |
| Funds at 31July 2021 | 767,092 | 253,597 | 6,128,983 | 7,149,672 |