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|Administrative|Details|||
|Trustees'
Annual
Report||||
|Independent|Auditors'|Report to the Trustees||
|ofSir Thomas|White's|Charity||
|Statement
of|Financial|Activities 2020||
|Statement
of|Financial|Activities 2019|10|
|Balance Sheet||||
|Statement
of|Cash Flows||12|
|Notes to the Financial||Statements|13|
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|||||Restricted|||||
|---|---|---|---|---|---|---|---|---|
|||||income|Endowment|Total||Total|
|||||funds|funds|2020||2019|
||||||||~eee|a e1D|
||||Notes||||||
|Income and endowments||from:|||||||
|Investment
income|||||||||
|Rents receivable||||1,702,503||1,702,503|1,714,178||
|Interest on government
stocks||||||||8,327|
|Dividends
and interest on||quoted|||||||
|securities||||887,245||887,245||914,521|
|Interest on bank|deposits|||7,829||7,829||9,969|
|Sale of rights issue||||88||88|||
|Other income||||||||200|
|Total income and|endowments|||2,597,665||2,597,665|2,647,195||
|Expenditure
on:|||||||||
|Raising funds||||219,082|113,325|332,407||307,739|
|Charitable
activities|||||||||
|Clear yearly income available|||||||||
|for distribution||||2,295,478||2,295,478|2,250,468||
|Distribution
related|support costs|||18,577||18,577||19,659|
|Total expenditure||||2,533,137|113,325|2,646,462|2,577,866||
|Net gains/(losses)|||||||||
|on investments|||||(1,678,846)|(1,678,846)|3,296,137||
|Net income
/ Net movement||in funds||64,528|(1,792,171)|(1,727,643)|3,365,466||
|Reconciliation
offunds:|||||||||
|Total funds brought|forward|||645,956|74,418,724|75,064,680|71,699,214||
|Total funds carried forward||||710,484|72,626,553|73,337,037|75,064,680||
##
||||||Restricted|||
|---|---|---|---|---|---|---|---|
||||||income|Endowment|Total|
||||||funds|funds|2019|
||||Notes|||||
|Income and endowments|||from:|||||
|Investment
income||||||||
|Rents receivable|||||1,714,178||1,714,178|
|Interest on government||stocks|||8,327||8,327|
|Dividends
and interest on|||quoted|||||
|securities|||||914,521||914,521|
|Interest on bank|deposits||||9,969||9,969|
|Other income|||||200||200|
|Total income and|endowments||||2,647,195||2,647,195|
|Expenditure
on:||||||||
|Raising funds|||||196,112|111,627|307,739|
|Charitable
activities||||||||
|Clear yearly income available||||||||
|for distribution|||||2,250,468||2,250,468|
|Distribution
related|support||costs||19,659||19,659|
|Total expenditure|||||2,466,239|111,627|2,577,866|
|Net gains/(losses)||||||||
|on investments||||||3,296,137|3,296,137|
|Net income (expenditure)|||INet movement|in funds|180,956|3,184,510|3,365,466|
|Reconciliation
offunds:||||||||
|Total funds brought|forward||||465,000|71,234,214|71,699,214|
|Total funds carried forward|||||645,956|74,418,724|75,064,680|
##
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|||BALANCE SHEET|||
|---|---|---|---|---|
|||30September 2020|||
||Notes|2020||2019|
|FIXEDASSETS|||||
|Investments||72,473,228||71,941,372|
|CURRENT ASSETS|||||
|Debtors||915,852|775,337||
|Cash at bank and
in hand||2,716,386|6,639,224||
|||3,632,238|7,414,561||
|CREDITORS: Amounts|falling||||
|due within one year|8|2768429|4291 253||
|NET CURRENT ASSETSI(LIABILITIES)||863,809||3,123,308|
|NET ASSETS||73,337,037||75,064,680|
|FUNDS OF THE CHARITY:|||||
|Restricted
income funds|10|710,484||645,956|
|Endowment
funds||72,626,553||74,418,724|
|TOTAL CHARITY FUNDS:||73,337,037||75,064,680|
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|||for the year ended 30Sept|ember 2020|||
|---|---|---|---|---|---|
||||Notes|2020|2019|
|||||E|E|
|Net cash flow from operating||activities|12|(4,309,713)|(1,188,741)|
|Cash flow from investing|activities|||||
|Payments
to acquire investment||properties||(2,722,903)|(808,793)|
|Receipts from sales of investment
properties||||1,605,072|7,564,751|
|Payments
to acquire quoted|investments|||(10,599,023)|(11,179,480)|
|Receipts from sales ofquoted
investments||||9,506,152|7,870,375|
|Interest received||||7,829|18,296|
|Dividends
received||||887,245|914,521|
|Rents received from investment||properties||1,702,503|1,714,178|
|Net cash flow from investing||activities||386,875|6,093,848|
|Net (decrease)/increase
in|cash and cash equivalents|||(3,922,838)|4,905,107|
|Cash and cash equivalents|at|1 October 2019||6,639,224|1,734,117|
|Cash and cash equivalents|at|30September 2020||2,716,386|6,639,224|
|Cash and cash equivalents|consists of:|||||
|Cash at bank and
in hand||||2,716,386|6,639,224|
|Short term deposits||||||
|Cash and cash equivalents|at|30September 2020||2,716,386|6,639,224|
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|COSTS OF RAISING FUNDS|COSTS OF RAISING FUNDS|||||2020|2019|
|---|---|---|---|---|---|---|---|
|||||||F|E|
|Restricted income fund:||||||||
|Investment
Properties:||||||||
|Ground
rent, council|tax and|water|rates|||6,033|2,609|
|Repairs||||||60,871|56,935|
|Insurances||||||12,468|12,129|
|Legal and other professional||charges||||30,171|20,702|
|Planning,
consultant
Agents fees|and architect's||charges|||(1,316)
107,254|(3,550)
104,438|
|Compensation
payment||||||989||
|Other||||||2,612|2,849|
|Investment
Portfolio:||||||||
|Portfolio management|charge|||||||
|Endowment
fund:||||||||
|Investment
Porffolio:||||||||
|Portfolio management|charge|||||109,173|111,627|
|Foreign exchange losses||||||4,152||
|||||||332,407|307,739|
|At 30September 2020, unrecovered
were 2118,035(2019:2120,201).||planning||costs incurred|in facilitating|the ultimate sale ofproperties||
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|The trustees
have no|discretion|discretion|in|the distribution|of the "clear yearly|of the "clear yearly|income" which|is still made|in|
|---|---|---|---|---|---|---|---|---|---|
|70ths, in accordance
with the original Trust Deed|||||and subsequent
amendments.
The|||beneficiaries|are|
|as follows:-||||||||||
|||||||Number|2020|2019||
|||||||of70ths|E|||
|The Trustees of:||||||||||
|General
Charity (Coventry)||||||||||
|Comprising:||||||||||
|Coventry Trustees||||||8|262,341|257,196||
|Coventry
General|Charities|||||24|787,021|771,590||
|Clerk to Coventry|General|Charities||||1|32,793|32,150||
|Coventry Stock Charity||||||4|131,170|128,598||
|Sir Thomas White's
Northampton|||Charity|||8|262,340|257,196||
|Leicester, Sir Thomas|White's|Loan||Charity||8|262,340|257,196||
|Nottingham,
SirThomas White's|||Loan Money Charity|||8|262,340|257,196||
|Warwick, The Charity|of Sir Thomas|||White||8|262,340|257,196||
|The Master and Wardens,
Merchant||||Taylors' Company||1|32,793|32,150||
|||||||70|2,295,478|2,250,468||
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|SUPPORT COSTS -|GOVERNANCE COSTS|GOVERNANCE COSTS||2020|2019|
|---|---|---|---|---|---|
||||||E|
|Trustees'
professional|indemnity|insurance||1,643|1,643|
|Clerks' fees||||10,057|11,604|
|Auditors'
remuneration||||4,327|3,912|
|Accountancy||||2,550|2,500|
|||||18,577|19,659|
|EMPLOYEE AND TRUSTEE REMUNERATION|||AND EXPENSES|||
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|FIXEDASSET INVESTMENTS||||
|---|---|---|---|
||Freehold|||
||Investment|Quoted||
||~Pro ertles|Investments|Total|
||E|E||
|Fair value at 1 October 2019|43,767,900|28,173,472|71,941,372|
|Additions|2,722,903|10,599,023|13,321,926|
|Disposals|(1,605,072)|(9,506,152)|(11,111,224)|
|Net realised and unrealised|(585,431)|(1,093,415)|(1,678,846)|
|losses||||
|Fair value at 30September 2020|44,300,300|28,172,928|72,473,228|
|Payton, C|hartered
S|urveyors.|||
|---|---|---|---|---|
||||2020|2019|
||||E||
|Quoted investments||at market value comprise:|||
|Other UK|Fixed Interest||3,062,225|2,318,047|
|Ordinary|stocks and|shares|25,110,703|25,855,425|
||||28,172,928|28,173,472|
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|DEBTORS|||2020f|2019
f|
|---|---|---|---|---|
|Other debtors|||366,835|242,619|
|Prepayments|and accrued income||549,017|532,718|
||||915,852|775,337|
|CREDITORS:|Amounts|falling due within one year|2020f|2019
f|
|Clear yearly income not
Other creditors||yet distributed|2,295,478
170,439|2,250,468
1,699,915|
|Deferred income|||295,492|311,776|
|Accruals|||7,020|29,094|
||||2,768,429|4,291,253|
##
|Total future|minimum
lease rentals receivable|under non-cancellable|operating
leases|are as follows:|
|---|---|---|---|---|
||||2020
f|2019
f|
|Not later than one year
Later than one and not later than five years
Later than five years|||1,079,746
2,623,647
1,340,335|1,426,969
2,683,037
1,469,835|
||||5,043,728|5,579,841|
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|RESTRICTED FUNDS||||||
|---|---|---|---|---|---|
||Balance at||||Balance at 30|
||1 October|Incoming|||September|
||2019
f|resources
f|~Ex enditure
f|Transfers
f|2020
f|
|Income account||2,597,665|(2,533,137)|(64,528)||
|Income Reserve Fund|645,956|||64,528|710,484|
||645,956|2,597,665|(2,533,137)||710,484|
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|ANALYSIS|OF NET ASSETS BETWEEN FUNDS||Net||
|---|---|---|---|---|
|||Fixed|current||
|||assets|assets
E|Totalf|
|Restricted|funds||||
|Income Reserve Fund|||710,484|710,484|
|Endowment|fund|72,473,228|153,325|72,626,553|
|Total funds|at 30September 2020|72,473,228|863,809|73,337,037|
##
||||||2020|2019|
|---|---|---|---|---|---|---|
||||||E||
|Net income/(expenditure)||for|year||(1,727,643)|3,365,466|
|Dividends
received|||||(887,245)|(914,521)|
|Rents received from investment||||properties|(1,702,503)|(1,714,178)|
|Interest receivable|||||(7,829)|(18,296)|
|Losses/(gains)
on investments|||||1,678,846|(3,296,137)|
|(Increase)/decrease|in|debtors|||(140,515)|(230,303)|
|(Decrease)/increase|in|creditors|||(1,522,824)|1,619,228|
||||||(2,532,070)|(4,554,207)|
|Net cash flow from operating|||activities||(4,309,713)|(1,188,741)|
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